Amagi Metals said that by the end of 2016, it will no longer accept dollar-denominated business, and will do all of its business in cryptocurrencies (or gold, of course). Surely, that couldn’t be. Why would any retail business decide not to accept the world’s most widely distributed and widely used currency? We had to talk to somebody at the company, to see if this story was right.
Yeah, it’s pretty right. “I’m a big advocate of sound money,” CEO Stephen Macaskill told us over the phone. The dollar, no longer backed by gold, is controlled by “political whim,” he said. It’s not a currency he wants to hold.
BitBeat: Bitcoin Accepted Here; Dollars, Not So Much - MoneyBeat - WSJ
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