COUNTY, IF IT'S SOMETHING THAT IT'S AN ACTUAL CURRENCY THAT WE NEED TO START ACCEPTING TO BE CUTTING EDGE TECHNOLOGY, THEN WE'RE GOING TO DO IT MAGGIE: WE ARE JOINED NOW BY DAVID HOOTEN, THE OKLAHOMA COUNTY CLERK HOW DO YOU EXPLAIN BITCOIN? >> CRYPTO CURRENCY IS JUST A FORM OF LEGAL TENDER THAT DOESN'T HAVE — IT IS NOT TIED TO A COUNTRY

IT IS A WAY OF THERE BEING MONEY WHERE THERE ISN'T ANY IT IS NOT ATTACHED TO A GOLD STANDARD OR AN ECONOMY OR A GROSS NATIONAL PRODUCT IT IS A FREESTANDING FORM OF TENDER ANYBODY CAN USE IT COME ANY COUNTRY CAN USE IT YOU CAN USE IT INTERNATIONALLY

IT IS NOT TIED TO A BANK OR A COUNTRY THAT'S WHAT MAK IT INTRIGUING MAGGIE WHY DO PEOPLE BUY INTO BITCOIN? WHY ARE PEOPLE TELLING YOU THEY ARE INTERESTED? IT'S BEEN AROUND SINCE 2009 YOU COULD BUY A UNIT FOR A CERTAIN AMOUNT OF MONEY $100

NOW, IT HAS GOTT SO JAZZED UP, PEOPLE ARE BUYING AND SELLING THEM — THERE'S SUPPLY AND DEMAND SO MUCH DEMAND THAT IT WENT UP TO ALMOST $20,000 FOR UNIT IT'S GOING UP AND DOWN PEOPLE ARE BUYING I BECAUSE IT IS PROFITABLE IF YOU BUY A UNIT OF THE THEORY ETHEREUM A $299, THAT IS WORTH $299 UNTIL SOMEONE PAYS MORE

IF SOMEBODY WANTS IT, THERE'S ONLY SO MANY IN THE WORLD THEY ARE MINED BY HA DRIVE COMPUTERS IT'S VERY ADVANCED AND VERY INTENSE WHEN PEOPLE WANT SOMETHING, IT'S GOING TO GO UP IN PRICE ETHEREUM IS NOW AT $1250

PEOPLE ARE BUYIN IT ON EXCHANGES LIKE GEMINI YOU GET ON AND SAY I WANT TO BUY IT AND IF SOMEBODY IS WILLING TO SELL IT FOR WHATEVER PRICE, YOU EXCHANGE IT AND THERE'S NO FEE IT'S A REALLY INTERESTING THING IT IS NOT REGULATED PER SE IT IS FAIRLY NEW

THERE WILL BE PLENTY REGULATIONS THERE'S 1300 CRYPTO CURRENCIES RIGHT NOW YOU WILL SEE THREE OR FOUR HONEST THAT ARE THE ONES THAT EVERYONE USES EVERYONE KNOWS THAT GOING — WINDO BITCOIN — EVERYONE KNOWS BITCOIN

IT'S GOING TO COME DOWN TO WHO LIKES THEM THE MOST, WHICH ARE THEMOS SECURE YOU HAVE A DIGITAL WALLET WHERE YOU LITERALLY HAVE IT IN YOUR PHONE, IN THE CLOUD YOU CAN USE IT ANYTIME YOU WANT ANYWHERE YOU WANT IT'S NOT TIED TO A COUNTRY IT WILL BE A GIVEN VALUE UNTIL SOMEONE WANTS IT AND IN THE VALUE GOES UP — AN THEN THE VALUE GOES UP

WE WOULD WANT TO HAVE A MACHINE THAT CAN TAKE IT WE SCAN IT LIKE YOUR CREDIT CARD AND ACCEPTED WHEN YOU PAY FOR YOUR $13 ED, THAT MAY BE WORTH $15 BY THE TIME I GIVE IT TO THE TREASURER IF WE KEEP IT ANOTHE MONTH, IT COULD BE WORTH $1500 THAT'S THE INTERESTING PART

THIS IS AN ACTUAL THING THAT IS CHANGING AND VALUE ALL THE TIME MAGGIE: WHEN WE STARTED THIS STORY, BITCOIN WAS AT $19,000 IT'S NOW HOVERING AROUND $14,000 HOW WOULD THE COUNTY HANDLE THIS? ARE YOU IMMEDIATELY GOING TO TAKE IT AND CHANGE IT BACK INTO DOLLARS? WHAT HAPPENS IF THE BITCOIN VALUE DROPS? THE VERY FACT THAT IT COULD INCREASE IS THE SAME THING IT COULD GO DOW — THE DOLLAR GOES UP AND DOWN IN VALUE DAILY IT JUST DOESN'T DO IT AS VOLATILE AS THIS IS HAPPENING

IT'S CHANGING SO MUCH SO FAST THAT THAT'S WHY SOME PEOPLE ARE A BIT AFRAID OF IT YOU TAKE I FOR $13 AND IF IT'S WORTH MORE, YOU WOULD PAY TAXES ON T INCREASE FOR CAPITAL GAIN THAT'S WHERE SOME PEOPLE ARE GOING TO G — IF YOU ARE BUYING IT AND KEEPING IT, WHEN YOU SELL IT, YOU OH TAXES ON THE INCREASE — Y OWE TAXES ON THE INCREASE YOU BROUGHT SOMETHING THAT IS JUST LITERALLY LIKE GOING TO A FOREIGN COUNTRY AND BUYING 10 FRANCS IT'S WORTH 1000 TIMES WHAT IT WAS

THAT'S A GOOD PROBLEM TO HAVE YOU EXCHANGE IT TO DOLLARS OR YEN WHATEVER, AFTER YOU PAY THE TAXES ON THAT, YOU HAVE WHATEVER YOU HAVE IF THE COUNTY WERE TO TA IT, WE WOULD HAVE A POLICY – WE ARE WORKING ON CONTRACTS THAT IS A BIT OF AN ISSUE IT'S NO DIFFERENT THAN A DOLLAR

MAGGIE: YOU GUYS HAVE AN ATM? >> YES MAGGIE: HOW CLOSE ARE YOU TO THAT? >> ONCE AWAY — MONTHS AWAY WE'VE STARTED TALKS ABOUT IT THAT COM INTO WHAT DO YOU DO WITH THE INCREASE OF THE VALUE OKLAHOMA COUNTY, WE WANT T WORK SMARTER, NOT HARDER

WE WANT TO DO ANYTHING WE NEED TO DO TO MAKE THE CUSTOMER HAVE WHAT THEY WANT AT THEIR FINGERTI THE MAJORITY OF THE WORLD IS GOING TO WANT TO USE THIS IT IS GOING THAT DIRECTION IT WON'T REPLACE THE DOLLAR IT MAY BE SOMETHING AS STRONG AS THE DOLLAR

IT'S BEING USED BY PEOPLE ALL OVER THE WORLD ALL THE TIME MAGGIE: WHAT KINDS OF CONFIRMATIONS THE YOU HAVE TO HAVE IN PLACE FOR THIS TO GO FORWARD? >> OUR COUNTY COMMISSIONERS WILL ULTIMATELY MEET ABOUT IT WE WILL TALK ABO IT THE ROAD BE ANY MISTAKES MADE ALONG THE WAY WE ARE BEING VERY CAREFUL

— THERE WON'T BE ANY MISTAKES ALONG THE WAY WE ARE BEING VERY CAREFUL THIS WOULD JUST BE ANOTHER FORM OF AN ATM MAGGIE: THAT ATM CAN TAKE OTHER CRYP CURRENCIES? >> IT COULD TAKE ANYTHING YOU COULD SET THEM UP TO TAKE WHATEVER YOU WANT

IT WILL BE SET UP THE SAME WAY PAYP IS MAGGIE: YOU HEARD IT HERE FIRST ON KOCO