BSR idea: Donate to erase the debt!

[tjcbs]

I used to think donating to a bitcoin reserve was a dumb idea. I was wrong, it's powerful as hell, not at all a sad second place to redenominating gold reserves or something.

• The debt worries everyone in this country, crossing political lines.
• Ask people to compete to erase it, by contributing bitcoin (directly or in $).
• Gamify it with leaderboards. By individual. By city and state. By company.
• A high ranking is a public signal of giving back, and of wealth. That is worth $$$.
• What company won't want to be top 10? 100? Number 1? Number 1 in their state, or city? They will compete for it.
• Everyone gets a ranking. Everyone can boost theirs, with just a few $.
• Rankings are denominated in bitcoin, not $. Contributing early is key!
• Allow DCAs, even if only a few dollars a month.
• Give every contributor a page showing their contributions and gains.
• This will also expose the population to participating in bitcoin, and to its value add over time.
• This could be a perpetual sat black hole.
• Even if other countries don't pick up on the idea. If successful, they certainly will!

What do you think of this idea?

And I know, I know, it would be rich for this administration in particular to ask citizens to help pay down the debt, when they in particular are one of the chief contributors, with the reckless and corrupt cuts/giveaways to the rich and corporations. As always, one works with what one has.

[NotFuzzyWarm]

Only way I'd go for it would be if it is a 100% tax write off whose value is set at current rate at time of the donation. Same as charitable donations are write offs.

[franky1]

or.........
instead of gov/media blaming the citizens and saying its a national debt the citizens have to pay.. how about:
a. Fed gov downsize its employee roster. and put savings into paying down debt
b. Fed gov sell derelict public sector buildings (due to less staff/less departments)
c. when fed makes $$ demands on states. states use their BTC reserves instead of state taxes to pay fed costs
d. use non tax income such as DMV permits(+other public services not free) at state level and entry visas/passports at fed level to buy more BTC

this would allow:
there to be more treasury funds to pay public services and not require adding more debt(a+b+c)
more BTC shifting to the fed bitcoin reserve without costing taxpayer(c+d)

oh wait.. dang it i just stole trumps idea
ummm.. ok heres an idea that trump has not mentioned about debt

if the US owes china Z billion in US bonds. and china owes [other country] Y billion in chinese bonds
and [other country] owes US X in [other country] bonds.. how about a triangular deal whereby if:
US writes off [other country] X debt
[other country] writes off the X amount from Y to china then china can write off X amount from Z to the US. bringing down the debt that way

and as for the BSR
when the us gov puts a sanction on another country. make it a requirement for other country to give the US BTC

[tjcbs]

Only way I'd go for it would be if it is a 100% tax write off whose value is set at current rate at time of the donation. Same as charitable donations are write offs.

True, good point. It should, though technically it wouldn't be revenue neutral then.

[pinggoki]

Only way I'd go for it would be if it is a 100% tax write off whose value is set at current rate at time of the donation. Same as charitable donations are write offs.

Same, but I don't think that 100% write offs in crypto is going to be a thing for most government because there's money to be made on people that are into cryptocurrency. Maybe it's not the taxation or donation that the government should focus on to, rather they need to make an efficient money spending and cut the really unnecessary things.

[odolvlobo]

Why limit it to the debt? Why not get rid of taxes completely and fund governments solely from donations?

[Ambatman]

What's the essence of taxes?
That's their responsibilities not the citizens
They have already done their parts
Why pay for anothers inefficiency and what's the assurance the funds won't be 'mismanaged'

[tjcbs]

What's the essence of taxes?
That's their responsibilities not the citizens
They have already done their parts
Why pay for anothers inefficiency and what's the assurance the funds won't be 'mismanaged'

I agree it is the government's responsibility. I don't like asking everyday citizens either. But the wealthy and corporations share a huge portion of the blame. They donate and lobby for tax cuts for themselves, which has blown up the budget. They enjoy the benefits, and we enjoy the resulting debt, which now threatens our currency and national security. They can give the most, and benefit the most, with a positive press release issued at every donation.

[Doan9269]

Why must every solution to challenges like this must come from the people, why must we pay for what we don't even know about or have an idea on how it's been done, it's improper to started asking the people for donation to clear the debt, one thing am well assured of is that the world itself cannot be debt free, we should stop pretending as if we don't know the government or leader that during his own tenure accrue the debt to a certain percentage before leaving, then another comes in and continues on the same, so we are the ones that should now contribute our money on all these, when most of them have taken every spread of it on their personal ambitions, that is why bitcoin will always be for the people while fiat for the government.

[tjcbs]

Why must every solution to challenges like this must come from the people, why must we pay for what we don't even know about or have an idea on how it's been done, it's improper to started asking the people for donation to clear the debt, one thing am well assured of is that the world itself cannot be debt free, we should stop pretending as if we don't know the government or leader that during his own tenure accrue the debt to a certain percentage before leaving, then another comes in and continues on the same, so we are the ones that should now contribute our money on all these, when most of them have taken every spread of it on their personal ambitions, that is why bitcoin will always be for the people while fiat for the government.

Really I agree, the bulk of any donations should come from companies and billionaires. They have taken grift in tax cuts and given us debt. Let them write it off their taxes and issue press releases about their wealth and generosity.a

[Bitcoin Smith]

I am already paying 50 to 60% of what I earn to the government in the name of direct and indirect taxes now I have to give more to pay their debts?

I don't need the government at all.

Because they lack accountability for their bad actions and now just forcing people to bury what ever burden on us. Instead we could create a policy like only candidate who pass certain level of expertise including their skills and graduation should be mandated to ensure they are really spending the money in the right way.

[mindrust]

Why limit it to the debt? Why not get rid of taxes completely and fund governments solely from donations?

That’s a brilliant idea actually. I’m am sick and tired of paying taxes to fund gov workers… If some people like to do it, they can do it freely and voluntarily.

That’s never going to happen though. The gov won’t let it happen.

We should also get rid of income tax as that’s a very stupid thing to have. We already pay lots of taxes on goods. It is stupid to tax income. That’s double taxation.

[moneystery]

it doesn't make sense to make citizens donate just to help the government pay their debts. it is not the responsibility of the people to donate to help the government pay off their debts. even though the purpose of the debt is for the country, but the people have made their participation by paying their taxes, and it is the government's job to be able to manage how they can use the budget and maximize it so that they can pay their responsibilities. there is no need to burden the people with additional things other than taxes. life is getting harder, and the government should help ease it, not make it more difficult.

[DeathAngel]

Only way I'd go for it would be if it is a 100% tax write off whose value is set at current rate at time of the donation. Same as charitable donations are write offs.

This ^^

The government doesn’t give a damn about us, we are on our own. Why should we donate a single satoshi to a cause that we would probably get ripped off on & the money gets funnelled elsewhere. I will pass on this & keep my Bitcoin where they are.

[franky1]

Only way I'd go for it would be if it is a 100% tax write off whose value is set at current rate at time of the donation. Same as charitable donations are write offs.

This ^^

The government doesn’t give a damn about us, we are on our own. Why should we donate a single satoshi to a cause that we would probably get ripped off on & the money gets funnelled elsewhere. I will pass on this & keep my Bitcoin where they are.

if you are paying anything to government. even if you call it a "donation" .. said donation IS A TAX. so what are you writing off?

EG
if i have $100k and i "donate" $20k to government in exchange for writing off the need to pay 20% tax on your $100k.. (not having to pay $20k "tax").. realise you already paid the $20k tax as a "donation"
so you gained nothing you still only have $80k left..

..
the only time a donation to charity is beneficial, is if YOU OWN said charity too..
EG clintons pay 20% into the CLINTON foundation to then not pay the government 20%

however.. if you are paying government 20% donation to offset paying the government 20% tax.. you gain nothing

[peter0425]

• The debt worries everyone in this country, crossing political lines.

Yes the debt worries everyone but because it affects their daily finances. They would not care if it did not affect them. The thing is they would also not want to solve this problem with their own money. Yes the only way to solve this debt is through citizens' money but we would not want to be aware. No one wants to willingly contribute for the greater good. If so, many of our countries would not have debt.

• Ask people to compete to erase it, by contributing bitcoin (directly or in $).
• Gamify it with leaderboards. By individual. By city and state. By company.

I suppose this can work as there is nothing that the rich do not enjoy more than flexing their wealth and appearing superior. But will the government do this? It would seem like a cheap tactic. The government can do better with serious projects instead of basically fooling their citizens. For how long can this be sustained, anyway?

[jcojci]

The government can do anything to their citizens even ask citizens to help pay down the debt. Even the government can increase tax to citizens and tell them that we are in urgent national situation which need money to pay the debt. If that country are free from corruption, I am sure citizens want to help the government. But as we know that many country had corrupt officials, I am not sure that citizens want to do that except they will angry and demo to the government.

They can ask their government to ask the donation from the richest people in their country to help them and not citizens. That money can be used for anything including DCA Bitcoin if the government want to use Bitcoin as their Bitcoin reserve. Citizens have their own way to invest their Bitcoin and not have to involve to the government plan for their Bitcoin reserve. But maybe I am wrong for that, forgive me.

[BenCodie]

The idea is good OP, though just like the idea below (which should have happened after printing money became allowed), the top won't have it. The agenda doesn't like ideas that benefit the entire nation. Otherwise, the fabric of society and the way the economy works to benefit the top, won't work as it should.

Why limit it to the debt? Why not get rid of taxes completely and fund governments solely from donations?

Now you're talking too much sense.

Someone, arrest this man 

[Stablexcoin]

What do you think of this idea?

And I know, I know, it would be rich for this administration in particular to ask citizens to help pay down the debt, when they in particular are one of the chief contributors, with the reckless and corrupt cuts/giveaways to the rich and corporations. As always, one works with what one has.

This is the lamest way of donation, by resources who is to donate and whom is to receive.

If the government can't manage the resources of the country to a level where they are debt free, it is a sign of incompetence to handle donations or any funds allocated to help the economy. The government is now too corrupt to the extent that everything they do that involves finance is considered a trick to swindle huge amounts. I won't donate for any reason, every country has natural resources that are meant to keep the economy running, but political theft has evolved through the system, a topic of donation might even be another plot to fraud the public.

[NotATether]

Really I agree, the bulk of any donations should come from companies and billionaires. They have taken grift in tax cuts and given us debt. Let them write it off their taxes and issue press releases about their wealth and generosity.

Well you have to remember that not all companies and billionaires are grifting.

And many of them are not interested in bitcoin.

Even more of them hold the majority of their money in illiquid assets which cannot be easily sold.

So maybe it would be a better idea to petition whales to invest instead.