Post
Topic
Board Bitcoin Discussion
Re: The UK Treasury probably isn't fond of Bitcoin
by
koin
on 25/07/2012, 04:25:14 UTC
Alternatively, businesses are required to register the root public deterministic key, so the tax collectors can generate all the public keys that the business will be using. Random audits and/or micro-payments to consumers for reporting transactions mean the collectors can cross-check against the public addresses. If a business requests payment to an address that isn't derived from the right root key, it's obvious they are not reporting all their income.

that is the scariest thing about bitcoin i didn't know was possible.