@KrzysiekJ I think it's all a glorious comedy 😄 Laws are nowhere near a place where this could be handled adequately. I'm pretty sure we have not legal frame that could serve as basis to what the state can do with BTC that it has confiscated. Is it money, is it assets, is it goods?
Obviously if as with most confiscated goods, it could simply cash it in and put the money in the budget that would be fucking awesome, alas I doubt there's a procedure in place that can facilitate handling BTC.
@KrzysiekJ I'm quite against using BTC for payments though. Something with such a mind blowing volatility is incredibly impractical as an actual currency. If I pay my taxes in BTC today that means it'e equally possible that either I'm fucked, cause I could've bought a house with the BTC I used to pay my car tax, or the state is fucked, cause all the taxes it collected now sum up to the price of a badly brewed cup of coffee.
@KrzysiekJ Honestly I assume this will end with someone losing/destroying the wallet due to incompetence and effectively burning all that "money".
In a perfect world we'd pay out a significant part of the external debt, but that's just a laughable concept considering how bad state authorities are at handling new concepts, especially wonky and not well understood like BTC and crypto currencies in general.
@KrzysiekJ and the payer would do best to convert conventional money to BTC before paying, so then the government can convert back to conventional currency on the otherside, in order to escape volatility. At this point there seems to be no upside to bitcoint itself, except maybe that you pay the processors to use the blockchain as a possibly faster payment method, even though AFAIK there have been issues with legitimate transactions getting stuck.
@kunev In Poland there is a general notion of wealth right, so I suspect that government here could treat BTC similarly to other wealth rights. Not sure though whether this would solve the problem completely and also I don’t know whether there is a similar notion in Bulgaria. 🙂
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