Topic: Governments worldwide embraces Bitcoin's economic fluidity and transaction tax. - page 2. (Read 3644 times)
May 16, 2011, 05:38:51 PM
The obvious difficulty of getting current users to agree to such a tax collection mechanism to be added to their clients aside. Which government would this tax be collected for? Any government entity that you could choose will 1) not have the jurisdiction to tax all bitcoin users and 2) will have citizens of other nations that would desire to actively undermine the collecting government's ability to collect any taxes.
May 16, 2011, 05:08:46 PM
I vote no
May 16, 2011, 05:05:15 PM
A Bitcoin tax will however have to be implemented in the client
Why didn't we think of this earlier?
Edit: I am of course being sarcastic.
May 16, 2011, 05:00:19 PM
Whilst the above could have been a good April fools' joke on 1 April - it's too late for April fools' jokes this time of year. So the above might only be one of the numerous future scenario mainstream news headlines...
The fact is that a Bitcoin tax could very easily be implemented as a transaction tax percentage of the value of transfer. This will in effect be a kind of turnover tax on the Bitcoin economy - allowing for the administrative easing of the burden of book keeping, etc., etc.
In its present form, the Bitcoin blockchain also allows for a legitimate, above board business, to easily prove non-involvement in money laundering activities - as a direct link can be proven of legitimately acquiring coins through sales / rendering of services and the expenditure of those coins leaving the business.
A Bitcoin tax will however have to be implemented in the client - and more than 50% of Bitcoin client users will have to democratically elect to the use of this client - all in the spirit of Bitcoin. Social services should also make more use of Bitcoin donations - and the direct transfer it enables between the needy and the freely giving.
The fact is that a Bitcoin tax could very easily be implemented as a transaction tax percentage of the value of transfer. This will in effect be a kind of turnover tax on the Bitcoin economy - allowing for the administrative easing of the burden of book keeping, etc., etc.
In its present form, the Bitcoin blockchain also allows for a legitimate, above board business, to easily prove non-involvement in money laundering activities - as a direct link can be proven of legitimately acquiring coins through sales / rendering of services and the expenditure of those coins leaving the business.
A Bitcoin tax will however have to be implemented in the client - and more than 50% of Bitcoin client users will have to democratically elect to the use of this client - all in the spirit of Bitcoin. Social services should also make more use of Bitcoin donations - and the direct transfer it enables between the needy and the freely giving.
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