Bitcoin Forum

with regulations coming to the scene, where is the coin that can be tracked and regulated for tax concern's?

Now I know this can be a touchy subject, but it might be a good thing for the main stream population to have something that has a low transaction rate, encrypted wallet that removes banks from the picture, and a digital alternative to a fiat controlled by pocket lining politicians, everyone worry's about the bottom line right?

Let the community regulate the inflation, cost's associated with use, and distribution.

USD, Euro, et al.

Both are easily printed without using cryptography, I do not mean a government backed coin, but one generated by solving encrypted algorithm's, like all these other alt coins, but backed by a source that has the investment to back it.

The developer puts in initial parameters, they are constant and usually don't change. You're asking for a coin that can be tracked?

Sure, The U.S. has been able to give an approximate number of where the dollar is worldwide for quite some time now, but that is not what I am saying, tracked to a degree so that its trail coming into your account could be verified to have come from legal means, during an audit from the IRS in the U.S. you might like to show your not operating a Silk Road and you obtained your House through honest work, back tracking the bitcoin could be a nightmare, most people I know might slide on a tax here and there, but in general do not want to hide multiple thousand's from the IRS, or be under an investigation because they cannot prove their wealth was acquired legally.

Bitcoin after Gavin & Co. adds CoinValidation.

Hopefully we can stop that.

Not looking for something built on bitcoin or any other coin, but something else, not sure...

Note that, because Bitcoin and all AltCoins are decentralized and distributed, all node on the network end up with the whole transaction history in their local copy of the blockchain.
So most cryptocoins can get tracked any way. (Except laundry protocols like Zerocoin).


It's not possible to both *regulate* the inflation and at the same time remove the banks and politicians out of the picture.
If there's central control, you've just replaced the name of the regulator, you've juste renamed "banks and politicians" into "centralized regulation of cryptocoin".
If there's NO central control by design, not only have you kicked banks and politicians out, but you can't regulate anything on the coin, you just let it float around almost on its own autonomous life.

the only influence the community can have is simply indirect effect by its size (and regular economic phenomenons like demand/supply)
e.g.: currently bitcoin's price goes up, because there's a constant influx of new comer who buy to use them. They're are investing money into it (or if you prefer, the demand for bitcoin has gone up, while the supply follows the strict mathematical progression of its mining rules). Nobody takes decision. Only the massive increase of community has an indirect effect. The same happened recently with the other major crypto currencies (Litecoin) once it got the media spotlight. The same is happening currently with the minor cryptocoins as newcomer are currently hearing about them too (although I suspect that lots of the minor coin will end-up busting eventually).

If there was someone influencial on the coin, if the critical decision you mention (deciding inflation, cost, etc.) were taken by anyone instead of algorithmically/by supply/demande economic rules, that would be a single point of failure: that would be a entity or a group of person that could be targetted by government wanting to ban the cryptocurrencies, by shady groups wanting to manipulate the economics, etc. You would be back into the "bank and politician" scheme, only with a different name.

What kind of communist country are you living in? Oh wait, murica... Proof of burden lies with them, not you to prove it. You just have to provide the documents that they need.

Alot to ponder in just a few post's here, back to the boards to track down past info  ::)

I think he is trying to get us to "find" Microcash LOL...

RS cultist are amusing to say the least.


~BCX~

https://bitcointalk.org/index.php?topic=78825.0 after all that, who is going to touch it? RS? i once found a thread with abbreviations and such, now i guess i better put a flag on it to find it quickly so that I don't appear burned by someone who knows his $--- here and I can make a informed reply, you guys with history make it difficult for the newcomers, iz ok though-sleep when i am dead I guess

Ripple, I was looking for Ripple, it comes close to everything I was looking for back then.