Colorado Allowing Payment of Taxes With Cryptocurrency

in LeoFinance4 years ago

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The state of Colorado is partnering with PayPal to enable people to pay their taxes using cryptocurrency. This i s a big step forward in legitimizing it.

In this video I discuss how even though the state gets paid in USD, it does allow people to use PayPal to pay with crypto. This is another step forward in the battle against those who oppose crypto.

Here is the link to the article mentioned:

https://blockworks.co/colorado-residents-can-now-pay-state-taxes-with-crypto-for-a-fee/


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Paying the State with crypto feels very dirty to me.

It would actually be paying PayPal since the state isnt collecting the crypto itself but I get your point.

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Slowly other nations will join in this causing shock in supply, the future of money is gradually paving way

The bottom line is governments want taxes. If setting up payments in crypto helps them get more money, they will sign up for it.

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Wow. This is a step to mainstream. Before you know it there are general salary payment in crypto

Definitely a step forward.

$1 + 1.83% fee seems like a pretty good deal considering you can use crypto on the upswing.

I'm sure they just turn around and cash out immediately as to not be exposed to volatility. It's basically like accepting the next generation of credit cards.

So, somebody is a visionary there.

Less than the credit card charges.

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One step at a time we are getting there, crypto is future of money

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The tentacles are spreading.

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I !Love this:

Colorado’s plan to accept cryptocurrency for state tax payments and other government fees is proof of crypto’s wide acceptance as both an investment and payment method.

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It is another line of defense. We have to build millions of these.

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I think it's a good option because the state would be paid in fiat regardless and you said it would also be cheaper than paying with a credit card. So I think this will help more states move towards this change if it works out well.

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If they can get more money, they will all do it.

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ironic

Not really. Politicians greed knows no limit.

So if they can get more money, they embrace it.

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the truth is that it is a step forward to cancel taxes with Cryptocurrencies would make everything much easier for everyone

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