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Author Topic: The IRS decision and the Bitcoin foundations opportunity to redeem itself  (Read 508 times)
equinox9
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March 27, 2014, 01:59:06 PM
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We keep getting told that the purpose of the Bitcoin foundation is to lobby governments and push for adoption.
If there was ever a time when a decision needed the voice of the community to protest this would be it.

Is there a member of the bitcoin foundation willing to detail their plans for countering this new development?
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5thStreetResearch
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March 27, 2014, 02:02:32 PM
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We keep getting told that the purpose of the Bitcoin foundation is to lobby governments and push for adoption.
If there was ever a time when a decision needed the voice of the community to protest this would be it.

Is there a member of the bitcoin foundation willing to detail their plans for countering this new development?

Its gonna take quite a bit more than them to do anything.  The IRS dealt the death blow.

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March 27, 2014, 03:56:42 PM
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Its gonna take quite a bit more than them to do anything.  The IRS dealt the death blow.
Death blow? Roll Eyes

Hardly.

Bitcoin will continue to develop as a global currency until its useage as a currency can no longer be ignored by the IRS.  They will have to change their position.

Agree that the Foundation should be taking the lead, if they want to be relevant.
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March 27, 2014, 04:05:28 PM
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Its gonna take quite a bit more than them to do anything.  The IRS dealt the death blow.
Bitcoin will continue to develop as a global currency until its useage as a currency can no longer be ignored by the IRS.

If it is considered a global "currency" than taxation of profits exchanging in and out will be handled like exchanges in and out of any other "currency" (which as an aside is actually less favorable).

I don't understand that point? You want it to be a recognized "currency"...but not one subject to all the other properties of other currencies world-wide when exchanged from one to the other?
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