Actually, there's a mining union trying to get funded this way that has exactly this proposal: you fund them, and you get the share of the output for a whole year. I'm tempted to throw a bitcoin their way, but they are asking for 10 BTC and no one has donated yet. Anyone else interested in helping fund their project?
https://bitcoinstarter.com/projects/97Or, you could just buy shares of ASICMiner and get paid dividends derived from the revenue that is generated with their mining operations and hardware sales. Those shares don't expire after one year and are transferrable.
Back to the original topic...Selling digital artwork for fiat and giving away bitcoins as a free bonus
may help you stay in compliance with FINCEN guidelines/regulations, but then the IRS bureaucrats will insist that Americans report those artwork sales as income. I still think it's best to exchange your artwork for cash--the actual FRNs--and to transfer the free bitcoins to the buyer in a face-to-face transaction. Transacting in electronic fiat just makes their job too easy with the surveillance apparatus that is in place.
The whole point of my post was not to avoid IRS taxes. That can be done lots of other ways.
The main point of this idea, is to keep average Joe from having to register as a Money Transmitter when he is just buying and selling bitcoins.
FINCEN regs would like to make it so everyone who transfers bitcoins, and accepts dollars, could be identified as a Money Transmitter.
But, if they are selling digital artwork and giving away FREE bitcoins with it, they are not selling Bitcoins for dollars, then there is NO Money Transmitting service provided.
As well, Paypal TOS claim they do not allow the sales of virtual currencies, for dollars.
A Physical Item MUST accompany the transaction, in order to avoid this. A Digital Artwork item fits that definition, and should work to keep paypal at bay.
