Regarding recent discussions concerning the legitimacy of Bitcoin, or lack of.
See: http://www.theverge.com/2014/2/26/5450640/senator-calls-upon-the-us-governme nt-to-ban-bitcoin Title: Senator calls on the US government to ban Bitcoin. Excerpt: "Senator Joe Manchin (D-WV) just sent a letter to federal regulators calling for a ban on the virtual currency Bitcoin. The senator says Bitcoin attracts and enables criminals even as its value to the US economy is "suspect, if not outright detrimental." The letter is nonbinding." * * * * While the senator appears to focus on the evils of Bitcoin... i.e. criminals use it, etc... and how Bitcoin could ruin the U.S. economy, the cynical part is more inclined to suspect the real issue, the issue not being discussed out in the open may have more to do with some within government halls becoming worried about the possibility that it might turn out to be impossible tax Bitcoin transactions. If more and more individuals start using systems like BItcoin for most if not all of their on-line commerce transactions, and if the technology is designed to effectively avoid government intervention in order to apply taxes, whose going to pay their salaries? I'm a state government employee, so perhaps I should be worried since my salary comes from taxes. Curiously, I'm not. Whether I'm right or not, I'm of the opinion that Bitcoin commerce and related on-line commerce models can be taxed, if everyone would simply cooperate with each other rather than these models focusing on flipping the finger at Uncle Sam. Please correct me if I error on the following assumption but I'm assuming BItcoin was conceived to be neutral on the subject of taxation. I'll be curious to know if Mr. Rothwell might have a differing opinion on this matter. Regards, Steven Vincent Johnson svjart.OrionWorks.com www.zazzle.com/orionworks tech.groups.yahoo.com/group/newvortex/
