

Bank Of America Promoting Bitcoin To Its Business Customers - cdvonstinkpot
https://smallbusinessonlinecommunity.bankofamerica.com/community/running-your-business/merchantservices/blog/2013/10/09/beyond-cash-or-credit-exploring-alternative-payment-solutions-for-small-businesses?utm_source=SBC_Newsletter&utm_medium=EmailSBC&utm_term=More_Article_8&utm_content=SBB&utm_campaign=Nov_2013

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wheels
This is one of those cases where the title of the post really needs to be
changed. As posted on HN it's totally false. (It's currently "Bank Of America
Promoting Bitcoin To Its Business Customers" in case it's later changed.)

Bank of America isn't promoting anything here. This is a community site run on
Bank of America's domain. See the current list of articles here:

[https://smallbusinessonlinecommunity.bankofamerica.com/commu...](https://smallbusinessonlinecommunity.bankofamerica.com/community/running-
your-business/merchantservices)

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nanidin
I thought HN rules required the link title to match the article title with no
editorializing? In that case, the title of this post most definitely needs to
be changed.

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nonchalance
Strictly speaking, it's a community blog post. The author, Touchpoint,
probably paid BOA to put the post up there:
[https://smallbusinessonlinecommunity.bankofamerica.com/peopl...](https://smallbusinessonlinecommunity.bankofamerica.com/people/Touchpoint)

I guess we've found the next forbes.com

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hyborg787
I'm curious, if sales tax applies, how do you apply it to the sale and remit
it to the city? Do you send them USD or BTC?

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URSpider94
That's already well established for barter transactions. Yes, sales tax must
be collected and remitted. The amount is calculated on the fair market value
in USD of the goods received. Tax must be remitted in USD. This is one of the
reasons that national currencies are referred to as "fiat currencies," because
the government dictates their use for paying taxes.

~~~
Codhisattva
That's not what "fiat" means. That's what "currency" means. (That is, if you
can't pay taxes to defer the threat of state sponsored violence against your
person then it's not valuable currency.)

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scottcanoni
I bet that this will be taken down once it receives enough hits or attention.

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goeric
Wow. That was...unexpected.

