More Cryptocurrency Talk And Results

While it is tempting to have some fun with Jon Matonis fire breathing call for aggressive legal attacks on, well, money.  At least he recognizes that the powers that be have no interest at all in being “disrupted”, and have the means and the will to resist.

In stead I’ll comment on Pete Rizzo’s report in Coindesk about NCR offering Bitcoin payments in its name-brand-of-all-name-brand small business equipment, which he reports was very well received initially.

I’m still not convinced that Bitcoin will be as popular as Apple Pay and competitors, but this certainly demonstrates both the “end-to-end” principle and the importance of “trust” in this supposedly “trustless” system.  NCR is scarcely the first POS system that takes Bitcoin, but NCR is freakin’ NCR, man.  They practically invented the cash register, we trust them.  If they let you pay with sea shells merchants would be happy to take them.

Bitcoin Narrative: More Real World Intrusions

Apparently dissatisfied with the volatile and manipulated markets in Bitcoin, the usual suspects are pushing into Bitcoin based derivatives.

First:  isn’t the whole point of Bitcoin that it isn’t some artificial, manipulated, “fake” money?

Second:  Aren’t these sharks the problem we are trying to solve with cryptocurrencies?

A totally terrible idea, IMO.  But what do I know?

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On the “Bitcoin can’t be taxed” front, we see that Polish authorities firmly disagree.  At least, bitcoin mining–which occurs in the real world, after all–is taxable.

At least, it is supposed to be taxed, at least in Poland.  Obviously, the tax authority is correct, whether miners will follow the rules or not is a different question.