Quote from: MinorError on April 02, 2014, 04:34:49 PM

Quote from: LAMarcellus on April 02, 2014, 02:19:39 AM

Yes.
Income taxes are "voluntary", Harry Reid said so.

I believe this is a monumental opportunity for bitcoin.
Watch the IRS flail about as it attempts to tax everything that moves including 1's and 0's.
And fail stupendously.

Since the tax is due in USD and not bitcoin, I expect this will quickly hasten the demise of the dollar and send BTC exponentially upward.
This will also result in the US government hyper inflating away its debts, and the IRS turning into a septic cleaning service to clear out all their inked TP.

Grab the popcorn. This should be a good show. David vs. Goliath like.

I'm failing to grasp your logic here...if taxes were to be acceptable using BTC, now THAT would be a good thing for bitcoin. Paying income tax is definitely voluntary... Just like I voluntarily don't rob banks or kill people, because staying out of prison is high on my priority list, as is not being audited and having everything I own taken from me.

I also don't follow the logic. You're taxed on many things including property, they don't expect you to send 20% of your vinyl siding.. they expect you to send the USD of its value.