Author: Mike Hearn 2013-09-29 11:33:50
Published on: 2013-09-29T11:33:50+00:00
The conversation between Neil Fincham and Melvin Carvalho on the Bitcoin development mailing list was centered on taxation and donations. Neil requested to keep philosophy and tax evasion out of the discussion, but Melvin clarified that it was about voluntary donations going to the correct place and being verified by an oracle. The discussion then moved towards the uncertainty of regulatory environments in various geographical regions and the need to pay capital gains and sales taxes. Rob, another member of the group, stated that BTC is just "another currency" and accounted for the same way as any other currency. Melvin proposed the idea of voluntarily preempting legislation by giving donations to government agencies for Bitcoin service providers. However, most people are not satisfied with how their donations are spent, and 80% of donations end up being spent on administration rather than their intended purpose. Neil suggested fixing this issue so that everyone wins, including the business person who wishes to contribute, the government that gets more revenue, and the fire department that receives revenue to do its work. Rob pointed out that donating is different from paying taxes, which one has no control over. He advised giving donations directly to the fire department if that's where the contribution is intended. The discussion ended with a link to Free Intel Webinars that can help accelerate application performance.
Updated on: 2023-06-07T17:05:53.198396+00:00