S.1241 Proposing Digital Currency Disclosure: Tyrannical Seizure of Liberty

[Anonymous 0]

https://cointelegraph.com/news/us-senate-moves-to-criminalize-non-disclosure-of-cryptocurrency-ownership

The government has no authority to prevent barter. Bitcoin is a means of barter. The Constitution gives the govt the right to create money “The Congress shall have Power To…coin Money, regulate the Value thereof, and of foreign Coin….”. But it doesnt give the right to prevent people using some other medium of exchange. Outlawing bitcoin would be like outlawing the trading of food at potluck dinners. If it becomes law, S.1241 is an unconstitutional abuse of power. “Concealing a financial account”, where an account is defined so broadly as a “digital currency” is an attempt to criminalize valuation of non-monetary goods. A digital trade medium like Bitcoin could just as easily represent ANY relatively fixed commodity, let’s say platinum. There are only 16 tons of platinum ever mined, and it’s very hard to find. So let’s say we get all of the platinum owners to co-own a new startup which creates a blockchain of 16 million BitPlats, one million for each ton in existence. BitPlats are theoretically redeemable with real bits of Platinum, but no one really wants to take possession of it, they just want BitPlats as a medium of exchange. S.1241 would outlaw undisclosed ownership BitPlats as a “digital currency”. What if a rich guy commissions a 100 foot tall granite statue of Carrot Top the comedian, and creates a blockchain of 1 million BitCarrots? Again, S.1241 forbids “concealment” of ownership of BitCarrots. What about a consortium of 40 year old female virgins…Bit40’s? Value based on medically verified hymens intact for lets say 1 million women. Banning secret digital currency is like banning secret barter, which is like banning secret holiday dinners or secret unpaid sex. The slippery slope to a totalitarian slave state is clear to see here. F~~~ S.1241 and f~~~ the totalitarian politicians who support it. It’s a dictatorial aggression. Treat it accordingly. Certain politicians better read some history to see what happens to tyrants.

[Anonymous 42]

The government is a bunch of rapists that have to stick their dicks into EVERYTHING!

[Jan SobieskiParticipant 28791]

Do taxes need to be paid on barter?

Love is just alimony waiting to happen. Visit mgtow.com.

[Secret Agent MGTOWParticipant 22596]

Not a tax guy.

But I would say no, since you both (assuming) already own what you are bartering and paid taxes on it when you originally bought it.

Barter is for most people trading used things. Unless you are a business selling used things, selling your private used things is not taxable and therefore barter of things you already paid taxes on isn’t either. Barter is just a sale for a medium of exchange other than money. Your used stuff, you paid taxes for already. Private sales by individuals selling their own used stuff are not taxable. Otherwise one could never have a rummage sale or craigslist sale without becoming a tax collector. And you don’t have to be. You own something, you can sell it. You’ve already given the king his taxes, they have already been paid.

Women want everything, but want responsibility and accountability for nothing.

[AllenParticipant 146]

I think you’re right. Digital currency just can’t be defined in such terms, but you know they will work their asses off to make you share the wealth.

Woman - I picture a man, then take away reason and accountability. - Melvin Udall

[Author]

Posts