aigeezer
Legendary
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Activity: 1450
Merit: 1013
Cryptanalyst castrated by his government, 1952
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August 28, 2014, 11:48:41 AM |
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I read this to see how the teaser headline ended.
Spoiler: "The question of which country has a right to tax (and ability to enforce tax rules) is increasingly difficult to answer in the digital world. If mining, or trading, bitcoin is a business or service, where does this occur, given that bitcoin operates on a global peer-to-peer network?"
The story is out of Australia. I'm in Canada, but I am still very glad I read the story. It outlines many of the issues facing regulators who want to grab a piece of the BTC action and shows some of the unintended consequences of the various approaches floated so far. For example, a capital gains tax approach (CGT) destroys fungibility.
Meddlers gotta meddle though, so messy days ahead imho.
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