The bill would empower states to require online retailers to collect state and local sales taxes for purchases made over the Internet. The sales taxes would be sent to the states where a shopper lives.

We’ve written on the hyperdeflation problem before. Basically, with Bitcoin prices surging, nobody wants to buy anything, you just want to hold onto your Bitcoins. Conversely, when they collapse, nobody wants to sell. So volatility means nobody wants to transact in Bitcoins, because there’s a good chance that the next day someone will feel like a fool.