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Bitcoin?

Stones

By Stones
in General Bourbon Discussion

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Stones Enthusiast

Stones

Posted
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Just curious as to whether anyone has looked into or bought any whiskey with bitcoin? :searching:

or bitcoins if it was an expensive purchase... ;)

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393foureyedfox Guru

393foureyedfox

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i wonder if, technically speaking, it would be illegal to 'buy' alcohol from an individual in this manner, as it is not, technically speaking, legal tender

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Stones Enthusiast

Stones

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i wonder if, technically speaking, it would be illegal to 'buy' alcohol from an individual in this manner, as it is not, technically speaking, legal tender

Germany formally recognises Bitcoin as a legal form of private currency, I'm not sure if any other governments of the world see it as legal tender or fiat currency 'yet' though. I see wordpress now supports it as a type of payment.

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MauiSon Connoisseur

MauiSon

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Being the proud owner of two Bitcoin cents, I'm unlikely to buy any bourbon with it until a Bitcoin reaches parity with a couple thousand dollars. Anyone want to donate to my cause?

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GaryT Guru

GaryT

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i wonder if, technically speaking, it would be illegal to 'buy' alcohol from an individual in this manner, as it is not, technically speaking, legal tender

Even trading alcohol without a license is illegal, so my guess is this wouldn't have any impact on that.

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squire Deity

squire

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It's the sale by an unlicensed individual that's illegal, not how their are paid whether it be money, goods, services, anything of value.

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SmoothAmbler Advanced Taster

SmoothAmbler

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Squire, since most here aren't legally allowed to sell alcohol, maybe I should take donations of their bitcoins and put them to good use. Good plan? :)

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squire Deity

squire

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Last time I checked only the U.S. Treasury is authorized to manufacture legal tender, believe I'll stick with coin of the realm.

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LostBottle Virtuoso

LostBottle

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Should've put in $100 USD back when I first found out about it. Hindsight and all that...

Not to make you feel bad, but doing this would have bought a lot of bourbon.

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MtnDew Connoisseur

MtnDew

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That's exactly what I was referring too... Hah!

Yeah, for a couple of years I mined bitcoins with my GPU's and used the proceeds to buy new PC equipment. Over that time period I cleared about $1k after power and equipment costs so it was worth it to me. Unfortunately, I was sitting on about 100 bit coins when the price fell out over a year ago and I ended up selling them for about $3 each which broke even with the power I had used for that batch. Too bad I did not sell them when they hit $250 a few months ago, not to mention the almost $400 they are trading for now.

I remember seeing them for $1 too and thinking that I should buy a bunch just for the heck of it... argh! Now you can't mine them unless you have an ASIC, GPU mining is essentially dead.

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