Tax is the price we may not to be arrested.

I re-invest my earnings into additional assets.

Most definitely. But there is a sense of scale of the corruption in Africa. To demonstrate, here's a story:

In South Korea, America and Nigeria, the government plans to build a highway. They each budget it for the equivalent of $50mn.

In South Africa, the contractors take a few hundred thousand dollars and then build a decent highway. In America, the contractors take a few million and build a below-decent highway. In Nigeria, the contractors take $100mn and the highway is forgotten about.

Corruption is just the cost of doing business around the world. In Africa, it is business. That is because financial institutions and formal government structures are owned by the patrimonial warlords that thrive off corruption.

But there are reformists who want to change. They are just lacking formal institutions and the willpower to build them. Crypto is a financial institution that is lightweight and can be adopted by reformers and civil society. I think that with a decent crypto that can bring informal traders into the taxpool, governments will be very keen to adopt it.

For interest sake, and because I may be writing a white paper for an alt-coin in the near future, what do the white paper readers want and look for in a white paper?

I'm a big fan of Dash. Was relatively easy to get a hold of some and had good gains. Just needs to get on some decent exchanges.

Looking forward to a new crypto in the works called Afris. It is being backed by some big institutional players, so should be stable.

Crypto, not only Bitcoin, has the capacity to replace fiat currencies. Especially in Africa, which doesn't have stable financial institutions, crypto could be the solution to our failing financial infrastructure. I don't think BTC would be the solution here, though. Too expensive and too volatile to be used as a day-to-day currency. I'm pegging my hopes more on Etherium or Afris.

The transparency inherent in Blockchain has potential to fight corruption. Not only Bitcoin, but all cryptos.

Afris are a crypto being developed in Africa to fight corruption in development funding. It is very promising: http://afri.africa/

I'm pretty sure the Flat Earth Society started out as a joke. The entire thing is a good demonstration of how jokes can end up breeding the genuine article.

My theory is that the original FES was meant to be a prank, but some influencers thought it was real and attacked it. The attacks legitimized it in the eyes of many and this ended up forming genuine believers.

There isn't anything inherently morally wrong with polygamy. It is just an arbitrary cultural principle that has infected many societies. Tolerance of polygamy has been damaged by quite a few polygamist societies that have bad human rights records (like Islam and many African cultures).

But these abuses are often in addition to the cultural principle of polygamy. It can technically work without these bad additions.

A good thought experiment in the ideas of untraditional marriage is Heinlein's The Moon is a Harsh Mistress, where a huge inequality in the amount of females to males leads to many competing and compatible forms of marriage from polygamy and polyandry, to clan marriages. A very good book, that I strongly advise.

I don't buy that argument that Bitcoin is volatile because it has no intrinsic value to be backed upon. Nothing is backed by anything substantive! Fiat is backed by the monopoly power of the state, gold is backed by the social capital given to it. If Bitcoin's lack of physical asset backing was a problem, all currencies would be volatile.

Bitcoins volatility is not new in financial history. Earlier forms of currency like tobacco used in the early American colonies were much more volatile. Bitcoin's instability is just a demonstration of the market. Hype led to speculators buying up the supply, and scares by regulators and panic sellers caused price drops.

There is nothing intrinsic in Bitcoin, besides maybe slow and expensive transactions coming to the fore, that makes it volatile. It is a commodity, and like any commodity, is a slave to market forces - let it be euphoria or panic.

In South Africa, Bitcoin themselves are not taxed because they are not recognised as currency. When they are sold for fiat, the income gained from that is taxed.

https://www.fin24.com/Tech/how-bitcoin-earnings-are-still-taxable-20171214