Quote from: Beliathon on March 26, 2014, 05:17:35 PM

Quote from: IrishFutbol on March 26, 2014, 03:55:35 PM

Then all you're describing is a partnership. Your income is 1/# of miners, unless you have some agreement saying you get more or less than that, and you'll get taxed on this. Take money out, and you have taxable income. Leave the money in there, and the partnership is subject to taxation.

Taxation by what nation? How can a nation-state tax international income that supercedes the sovereignty of the nation-state? Sorry, does not compute.

Let's say our group received this money as a donation - we didn't mine it ourselves. Let's say we can only spend it by group consensus.

Quote from: Joshuar on March 26, 2014, 04:10:42 PM

This would never work..You'd be in a partnership.

An international partnership which transcends any single nation's laws! If the USA can tax the PRINTING/ GENERATION of international, worldwide money, can every other nation do the same?

So each time we mine BTC we are forced to pay income taxes to all 14 of the nations in which all of us live? Does that sound reasonable to you? No, it doesn't. Because it's highway robbery.

BITCOIN IS SOVEREIGN. LEARN IT. ACCEPT IT. LOVE IT.

You would pay taxes on your earnings as a US citizen. Same as before. The US would tax: Total BTC Mined x (# of US people in pool / Total # of people in pool).

Simple way to think about this: If it was this easy, why wouldn't any of the major multi-national accounting partnerships or law firms do this?