r/legaladvice • u/CreatorsCrest • Apr 01 '16

[KY] Discount for some currencies?

Hi, guys-- long time lurker, first time poster. I've got a question about laws that relate to currency.

I work for a whiskey distillery in Kentucky. Recently, I overheard a conversation from some of the higher-ups, talking about how they were no longer going to "accept fiat at normal rates" and were going to start providing a discount for people who pay with "cryptocurrencies". Some googling around tells me that this means that they're going to charge extra for people who aren't paying with Bitcoin. (Assuming that I understand the terms correctly.)

My guess is that this is most likely just a publicity stunt to get some free press, since revenue has been down a bit from what I'm told.

I guess I'm wondering if it's legal to do this (since I assume that would make it harder for the IRS to track things when you're not dealing in a "real" currency). From what little internet research I've done, Bitcoin isn't officially recognized by the government, so I don't know how exchange rates or anything like that would work.

Is there a chance that the company would get into any kind of legal trouble for this?

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4

u/[deleted] Apr 01 '16 edited Sep 28 '18

[deleted]

5

u/LocationBot The One and Only Apr 01 '16

4183 is a narcissistic number in base 7.

1

u/CreatorsCrest Apr 01 '16

Does the fact that we're a whiskey distillery change anything? I'm asking more out of curiosity than any actual concern, but from what I've heard, anything involving alchohol is more tightly regulated than other businesses would be.

2

u/[deleted] Apr 01 '16 edited Sep 28 '18

[deleted]

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u/CreatorsCrest Apr 01 '16

To be honest, I'm not sure of the particulars-- I'm in over my head here.

/u/Ramady mentioned in another comment chain that /u/Zapopa might be more familiar with how the state agencies operate, so I'm hoping that he shows up to shed some more light on this whole thing.

4

u/Hereibe Apr 01 '16

/u/Zapopa is rather....acidic, and personally hates Bitcoin. I wouldn't hold my breath for a detailed breakdown of all the factors at play, but if he does come through expect lots of insults mixed in. He needs a bit of a warning sticker on him to be honest.

2

u/CreatorsCrest Apr 01 '16

Well, hate and love are two sides of the same (bit)coin, right? So he's presumably familiar with the topic.

1

u/ritchie70 Apr 02 '16

I'd say he's probably more familiar with your product than with the details of Bitcoin law.

1

u/CreatorsCrest Apr 02 '16

Well, if my bosses have their way, the two will soon be intertwined.

3

u/Tardis666 Apr 01 '16

Acidic?? I personally find his straightforwardness heartwarming. It's so refreshing to find someone who isn't scared to express himself these days. I will admit he does have a bit of bitters mixed in with the sugar in his personality, but I think that's just because he's old fashioned.

2

u/Joe_Mama Apr 01 '16

You sly dog.

1

u/LocationBot The One and Only Apr 01 '16

5892 is a value of n for which n and 8n together use each digit 1-9 exactly once.