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    Author Topic: Why is the Occupy movement not immediately embracing bitcoin?  (Read 18004 times)
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    October 15, 2011, 10:29:22 PM
     #161

    There would be no point in selling your whitelisted account as you would no longer be able to buy so much as a pack of gum in a legitimate business without one.

    Perhaps. But today one can purchase items without paying tax in so many different ways that I can't begin to count them, so I think you are ignoring reality on this one. Cheers.

    There is no such thing as perfect enforcement, but Bitcoin provides tools to make it much easier to detect evasion in the form of the transaction log.  If an address is receiving a large amount of coins a certain percentage should be leaving in tax.  Random checks could be entirely automated against a formula that could look for suspicious activity to be passed on to a human investigator to check.

    "Money is like manure: Spread around, it helps things grow. Piled up in one place, it just stinks."
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