St. Louis Fed: 'Enforcing Outright Bitcoin Ban Close to Impossible'
David Andolfatto, Vice President of the Federal Reserve Bank of St. Louis, is not quick to dismiss Bitcoin. Vice President of the Federal Reserve Bank of St. Louis David Andolfatto released a report on Bitcoin (PDF) yesterday, and it gave the Bitcoin community another peak into what financial regulators really think about cryptocurrency. The report is 36 pages long, but one of the most interesting slides in the report has to do with Bitcoin's effect on taxation. It talks about how the recent IRS ruling could limit the bitcoin's attractiveness as a currency, but the St. Louis Fed also....
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The Vice President of the St. Louis Federal Reserve Bank in the United States, David Andolfatto, has come out with a 36-page slideshow/report on the topic of bitcoin. Now, if you have a few minutes, you'll probably want to take a look at it (it's very quick to get through). Based on my review of the report, I find it to be mostly fair. The report calls bitcoin "A stroke of genius", informing readers that it is a monetary system governed by complex algorithms. In addition, the report recognizes that banning bitcoin is next to impossible. A specific point I feel is spot-on about this report....
American comedian and producer Louis Székely, professionally known as Louis C.K has started to accept bitcoin payments for his comedy show performed at Madison Square Garden. The audio-only show can be purchased with bitcoin through BitPay, and customers can choose the price for this audio album. Louis CK mentioned on his website: Louis C.K is the first comedian ever to accept bitcoin for comedy albums and shows. C.K integrated BitPay on his website louisck.net, to enable his fans and customers to purchase any of his shows, albums and recordings with bitcoin. “We have the price set to 5....
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