September 9th 2013 the Colorado Department of Revenue created the final regulations for Marijuana use and sale, implementing the Colorado Retail Marijuana Code. January 1st 2014 the first official stores has opened for Marijuana sale. The twist however is that you cannot pay for the legal Marijuana with your VISA or Mastercard. You can only use hard cash or Bitcoin.
Matt Miller from Bloomberg explains that:
You can only spend cold hard cash, you cant pay for your weed even for medical use with a credit or debit card. I guess the Banks are unwilling to get into this business yet.
The host of the Bloomberg Surveillance show (watch the video here) says:
You can use Bitcoin to generate tax revenue for Colorado.
Haha, I would never in my entire Bitcoin life think that I would write about such a story. Truly amazing and mind blowing.