A few days ago, the powers that be in Washington decided that Bitcoin will be treated like a commodity and not like a currency. That means it’ll be taxed as capital gains if you make money off it, just like stocks. But there’s one thing that the untraceable, anonymous, and very high-tech crypto-currency can buy that you can’t directly trade your shares of IBM for: guns. Specifically, TrackingPoint’s Toyota Camry-priced rifle . . .
The Biz Journal has the story:
“We’re proponents of progress, both internally in our smart rifle development and externally in the rapidly modernizing world around us,” said John Lupher, TrackingPoint CEO, in a statement. “The recent advent and success of cryptocurrency has the potential to redefine our monetary system—and we must continue to innovate in our business practices as well as our technology.”
Apparently the decision to start taking the still-young currency is former rapper turned marketing meister Oren Schauble.
To put this in context, a company accepting Bitcoin for payment is basically like being able to trade a Vincent Van Gogh painting for a Prosche 911 (the kind that don’t catch on fire) and getting a couple Albrecht Durer sketches as change.
In the grand scheme of things, it’s not really a big deal. Trading goods and services is the basis of all business, no matter the currency. But because it’s the new and shiny Bitcoin that you can (OMG!) buy guns with now it’ll be to grab some headlines. Like this one.