Gold bugs and bitcoin enthusiasts tend to be a lot alike, what with their affinity for conspiracy theories and wariness of governments and their fiat currencies that would totally collapse if people just really thought about it. So I guess it should be no surprise that the first company anywhere to say “thanks but no thanks” to dollars would be a precious metals dealer. You see, CEO Stephen Macaskill is a self-professed “big advocate of sound money” who has still not gotten over that time the U.S. dropped the gold standard several decades before he was born. And what’s sounder than a highly-volatile imaginary “currency” susceptible to near-collapse when role-playing enthusiasts lose a bunch of them? Plus, you know, the U.S. is looking a lot like Zimbabwe to Steve, so he’s just going to turn away greenbacks as of Jan. 1, 2017, to avoid the embarrassment of having any on hand when they become just worthless paper and those benighted souls without an e-wallet are massed in breadlines and selling their bodies to the biterati for a Snickers bar.

“I think we’re going to have a very different world in five years,” he said. “We’re pretty close to the last leg of the dollar….”

“There’s going to be a point when I will turn away business for dollars, and that’s going to be 2017,” he said. “I’m pretty sure we’re not going to change that position.”

BitBeat: Bitcoin Accepted Here; Dollars, Not So Much [WSJ MoneyBeat blog]

1 comment (hidden to protect delicate sensibilities)
Show all comments ↓

Comments (1)

  1. Posted by Credit where due | August 25, 2014 at 1:17 PM

    Good job Shaz.