Ah interesting. Would price volatility make this practice too difficult? Or woul... | Hacker News

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zacinbusiness on March 25, 2014 | parent | context | favorite | on: IRS Says Bitcoin Is Property

Ah interesting. Would price volatility make this practice too difficult? Or would the market eventually reach a basic equilibrium price?

derekp7 on March 26, 2014 [–]

Actually, I think I stated that kind of backwards. If I sell you a cow for 2 BTC, then I owe taxes based on the cash value of the cow. Same as if I sold a cow for 10 pigs. But, you can't pay taxes in BTC or pigs, so that is one thing that will always keep USD in use.

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