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Couldn't the client software just keep track of addresses sent and received in a log file, and when you submit a tax return, you send them that file? They then
by adrianwaj 15y ago
Couldn't the client software just keep track of addresses sent and received in a log file, and when you submit a tax return, you send them that file? They then determine how much tax you owe (either a consumption tax or wealth tax,) and you pay it in bitcoin. The government can then inject or withdraw bitcoins from the money supply as it sees fit to promote or ease inflationary pressure.
So the government has two sets of transactions: those accounted for, and those unaccounted for.
- Udo 15y agoIn theory, a government-approved client could be implemented that is restricted to only send BTC to other government-registered addresses. There would have to insane restrictions on using and authenticating to the client software. And they would probably require the implementation to safeguard against unregistered addresses sending you money as well. All in all, shoehorning this into something approaching legal compliance would require stripping away every single point that makes Bitcoin worthwhile for end users.
- adrianwaj 15y agoGovernments could just setup there own versions of mybitcoin or authorize the private sector to run those versions on their behalf. They can even give tax breaks to those that use it.
- deleted 15y ago[deleted]