Bank Of America Promoting Bitcoin To Its Business Customers

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

by cdvonstinkpot • 13 years ago

22 8 13 years ago

smallbusinessonlinecommunity.bankofamerica.com

goeric• 13 years ago

Wow. That was...unexpected.

hyborg787• 13 years ago

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?

URSpider94• 13 years ago

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• 13 years ago

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.)

nonchalance• 13 years ago

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...

I guess we've found the next forbes.com

scottcanoni• 13 years ago

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

wheels• 13 years ago

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...

nanidin• 13 years ago

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.

Bank Of America Promoting Bitcoin To Its Business Customers

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