Bitcoin Forum

New York is at it again. Now, a member of the government is suggesting to make bitcoin a 'penalty money'.

http://bitforum.info/t/use-your-bitcoin-in-new-york-to-pay-for-parking-fines/275?u=angelo

I think it would be wise if Bitcoin can be used that way.

Imagine using bitcoin for government fines and etc.

What do you think?

Let's all make this the new equivalent of those jerks who pay fines and taxes in pennies. Those guys never actually accomplish more than wasting the time of the clerks who have to count it. At least with Bitcoin, they'll just have to go through the annoyance of finding a good reliable exchange to dump it on. :P

How would makin it penalty money any good for bitcoin ?

Hello?

Bitcoin will be introduced in the mainstream masses. More adoption. Right?

Indeed, any publicity is good.

Its not a penalty, but using it for it. You probably are misunderstanding the news

government accepts bitcoins = trust that its genuine value

that said. the OP's link to another forum who's link to a document is on a 'pastebin' like site, which was created by coindesk.
i wonder if anyone has even bothered to search the NY government websites to see if the draft even exists.

bitcoin being used as legal tender for court/government fines.. seems a little to eye opening to be true

Really?
what is the use of Bitcoin anonymity if we pay govt. taxes ?
And i don't really think they will be doing so anyway

- Manipulation
- Sabotage
- Corruption
::)

if this happens it means that government accepts it as a legit currency which leads to more adoption, but honestly it seems a little bit too good to be true!

any adoption by the mass would be good, it always can be extended to more uses when more people require the acceptation

if bitcoins will be used for parking fines,that is good because when you dont have cash,you can just use bitcoins...and that will be more easier for bitcoiners ;)

Hey, this isn't a done deal, yet.

It could be huge since it implies official government support for BTC, but I guess it will take years.

I don't think that will be accepted
but if it does ,that would really be awesome! though BTC might gt little dirty cos of the officials but well! more people will know :)

Man would Bitcoin grow if paying fines in bitcoins was a requirement all around the country.

:)

How many accounts you've to promote bitforum.info?
I can find at least 20 different just now...

This is quite a good idea hope it goes to the uk too but the uk isn't as invested as the U.S. into bitcoin

It definitely will be huge.
I wonder how they will tackle the volatility of bitcoin though.
The fines must be denominated in USD, with the equivalent amount in BTC being paid?
Will they utilize the services of a processor like coinbase?

If they can make parking fines to be paid exclusively only using bitcoin.

That's why councilman Levine is making a bill about it.

They are planning on using a payment processor similar to coinbase/bitpay however it is a smaller competitor of theirs.

Payments work the same way that payments work when you buy something via coinbase/bitpay, they have the exchange rate set at the time you initiate the transaction and you have a limited amount of time to send a tx to the payment address specified

I just got a parking fine here in Australia  >:(
Good news is i can pay this fine with BTC using https://www.livingroomofsatoshi.com/   :)

Yup. Thought as much.
It will be a long time before the government accepts BTC and does not convert it to dollars. :)

Yes, I don't think the government would like to accept Bitcoin. But it would be nice to offer them to pay our fines with it anyway.

Levine has a point.
Maybe that bill could be adopted and integrated in big cities around the world.

Not sure if I approve or I'm pissed off :O

Will it be doing it 'just bitcoin' or people can still pay in fiat?

It would be awesome to pay park fines or any type of fees via bitcoin

Great! it seems awesome

New York is currently focusing in the bitlicense proposal.
 
New yorkers doesnt have time for that.

That would be great if it could be used worldwide.

Throughout all of history, what has mainly made a currency legitimate was a ruler accepting it for taxes.

Paying fines won't be a problem as far as it gives free advertisement and knowledge to people of what Bitcoin is, which can help Bitcoin get adopted at a wider pace.

Seems like the kind of shit NYC crime families would orchestrate w/ the local government. I love it, though. NYC sets trends in general and is always looking for new and innovative ways to fine you for every little thing, so it's sooo NY. Who the fawk even drives in NYawk anyway. Just keep letting NYers jaywalk, though, b/c other cities w/o that constant motion seem less magical by comparison.

Are you serious about this question ? all adoption is good adoption. there's no such thing as bad adoption my friend  : )

It maybe a good method, but if governments get involved into BTC, then I think the concept of decentralization and anonymity will get vanished.

Great idea councilman, but these bill should be supported by others too.
Until right now, everything is just rumors and hearsays.

I think it might make us be less motivated to pay our fines!

Kidding, any new payment option improves liquidity, which is a good thing. Also, it makes bitcoin appears as commonplace as paypal which is a really good thing.

Wonder how many people would delay their payment just to wait for BTC price decrease - sort of gamble  8)