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(PBS)   Old and Busted: Bitcoins and other virtual currencies. New Hotness: Homespun, local currencies printed up in someone's garage   (pbs.org) divider line 4
    More: Interesting, currency, Western Massachusetts, PBS NewsHour, Berkshire County, Berkshires, Walmart, alternative currency  
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952 clicks; posted to Business » on 06 Sep 2013 at 10:45 AM (44 weeks ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-09-06 05:23:36 PM
1 votes:

edmo: Illegal?

But the real question is why? We have stable currency. I'll guess people figure they can only be taxed on US money they acquire. Man, people can sure get a lot of "dont' trust the government" going.

Only a fool thinks their made up currency is not subject to inflation. They are intentionally trying to increase demand for the currency which will increase it's value, more so if not matched by supply. I.E, inflation.


The idea is to force people to shop locally or pay a premium to exchange for dollars to shop non-locally. RTFA
2013-09-06 03:39:27 PM
1 votes:

space1999: If you need to buy BerkShares with real dollars, then how is this any different than the tokens you use at Chuck E Cheese to play the games?


In theory, once you buy the tokens, their value will never change.  You should always be able to trade in the tokens for exactly what you paid.  I assume the relative dollar value of BerkShares or any other "currency" changes day-to-day.
2013-09-06 03:18:26 PM
1 votes:

edmo: Illegal?

But the real question is why? We have stable currency. I'll guess people figure they can only be taxed on US money they acquire. Man, people can sure get a lot of "dont' trust the government" going.

Only a fool thinks their made up currency is not subject to inflation. They are intentionally trying to increase demand for the currency which will increase it's value, more so if not matched by supply. I.E, inflation.


Also, if they do spend that money in the US, even though they made up the currency, the Constitution still gives the government the power to tax transactions made with it (again assuming it happens in the US or with American citizens).
2013-09-06 12:03:30 PM
1 votes:
 
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