New Hampshire says "no" to Bitcoin tax payments.

[commandrix]

Well, that's...unfortunate. It's good that the New Hampshire legislature was willing to at least consider it, though. Maybe next time. http://www.forbes.com/sites/kellyphillipserb/2016/01/28/legislature-says-no-to-bitcoin-tax-payments/#502b6759b6ad

[155UE]

That sucks. Would have been nice if they did allow it and it would help for mass adoption.

[countryfree]

I try to imagine the consequences. Thousands would have rushed to buy BTC, price would jump, which would make even more new people eager to join the party, raising the number of transactions so much that the network couldn't handle it... New Hampshire's not ready yet, BTC neither.

[ajun96]

The poll may occur only for a few residents only. not thorough to all citizens of new hampshire, there must be some people who accept,
but do not worry, one day they will accept

[SFR10]

This is really a good news even if it got down voted as to majority went against it. It was almost 1/4 of representative going with BTCitcoins and the signs are there that with enough education towards BTCitcoins, many would change their insight in the future in which could lead, for this to happen.

[bargainbin]

Lol, Bitcoiners paying taxes. This is a joke, amirite?

[European Central Bank]

I would feel dirty letting my lovely bitcoins go to pay horrible taxes. I'll throw away my regular money instead.

[OROBTC]

...

That's interesting that NH will not take BTC as tax payments.  That almost hints that TPTB may NOT be behind the Bitcoin Ecosystem after all (as alleged by conspiracy theorists).  One would think that the state (even a mid-level component of The State) would be delighted to encourage use of Bitcoin...

On the other hand, NH takes a little bit of a "right" away, to pay as one would choose...

New Hampshire's state motto is "Live Free or Die".

Hmm.

[futureofbitcoin]

I try to imagine the consequences. Thousands would have rushed to buy BTC, price would jump, which would make even more new people eager to join the party, raising the number of transactions so much that the network couldn't handle it... New Hampshire's not ready yet, BTC neither.

You're kidding.... right?

There's no way people would "rush to buy" bitcoins just to pay taxes... they can do so much more conveniently by using their "real money".

There may be a few early adopters who would pay in bitcoins, but that's it. there's absolutely no reason for someone who doesn't have bitcoins to go through ALL THAT TROUBLE just so they can do something they could've done much more simply with the money they already have.

And the problem is, so many bitcoiners are so delusional they don't realize this.

[aso118]

It was voted down 264 to 74. It wasn't close, but nice to see *some* support for Bitcoin. 
 

[The Sceptical Chymist]

I try to imagine the consequences. Thousands would have rushed to buy BTC, price would jump, which would make even more new people eager to join the party, raising the number of transactions so much that the network couldn't handle it... New Hampshire's not ready yet, BTC neither.

Think even further--what happens when NH doesn't dump the bitcoin and the price crashes.  TONS of lost tax revenue.  I'm sorry, I'm glad gov't isn't taking bitcoin for taxes.  It's like that stupid ass idea of investing Social Security contributions into the stock market that GW Bush or one of those boneheads had some years ago.  Bitcoin is just not stable enough for this.

[pooya87]

the government is never going to give up on taking taxes on any kind of businesses , so why they should start with bitcoin business. they have arrested and prosecuted a lot of people for tax evasion when they were using bitcoin. and that is not gonna change anytime soon.

[NorrisK]

Luckily there are several apps and services under development that can let you pay your taxes exactly with bitcoin! If the governments say no to it, these services can bypass that by paying them in fiat.

Not the perfect situation ofcourse, but much better than no option at all.

At the moment I wouldn't pay my taxes with bitcoin, as most tax I need to pay is automatically deducted from my wages anyway, but if that changes I might consider it.

[Amph]

Lol, Bitcoiners paying taxes. This is a joke, amirite?

yeah especially for micropayment, and for payment that can be made using altcoin or in the future sidechain

it would be a pain in the ass to even pretend to collect taxes from that, there is no way it will work

bitcoin should be the only thing labelled as a tax free, doing this will actually help bitcoin grow, because more people will use it

[Patatas]

The fact is simple,the majority went against it because they're scared of the revolution.It does not matter anyway.Once the majority of the trades start accepting bitcoins as long as it remains decentralized (which I'm sure will) the tax payments will start accepting bitcoins.

[Swordsoffreedom]

Hey 74 votes that not bad for a first attempt besides knowing the legal system it takes only one passing of a bill before it really becomes locked in and Bitcoin has all the time in the world to do it.
(Repeals are rare after all)

[calkob]

Yeah i think that it will finally come but i dont think as has been said that even bitcoin is ready for that yet. 

[Herbert2020]

it is awesome to see that such thing is even being discussed and even get that much vote. in my opinion it shows that bitcoin is moving forward and everybody is thinking about using it. but it will take time until it really gets accepted massively.

[tyz]

It is a sad decision but I think Bitcoin needs more regulation in order to accept it for tax payments. I am not from the States but I think it is a big step that the sate New Hampshire is discussing about this option.