As long as they ate the roosters after the “sacrifice”, as is common practice e.g. when sacrificing blood to the goddess Kali, I’m fine with the slaughtering. But killing for fun or just to please some crypto gods is despicable.
There is a way to bankrupt a large portion of the US citizens.
Create a new coin and give everyone in the USA say 1 million coins each. Then use one of the erc-20 dex and buy one of your coins for 1000$ Or even 10$
Then write a letter to the IRS informing that everyone in the US was given the coins and show the latest rate of exchange for the coin. By doing this at the end of a tax year then everyone has a tax bill in the millions of dollars that they need to fight the IRS to get removed.
Guess how quick the legislators will amend the law.
This scenario sounds like it might be considered a “gift” from someone and subject to the gift tax guidelines federally. The giver is usually the one who is required to file and pay taxes for a gift but only if the value exceeds 15K USD per calendar year. If the value of the gift was more than 15K the giver would have to file and possibly pay any applicable taxes but only if they used up their lifetime exclusion. On top of the $15,000 annual exclusion, you get an $11.7 million lifetime exclusion. So the giver shouldn’t have any tax liability unless the total of the gifts exceeds $11.7 mil in their lifetime.
For the receiver of a gift, if the asset then produces an income after receipt of the gift (like collecting dividends, rewards or interest from the gift), that income would then likely be taxable under current tax law. Also, if the receiver sold said coin for fiat, they would likely be liable for income taxes from that sale. But the receiver wouldn’t be liable for taxes just for receiving the gift AFAIK. I think the creator of said coin would have more potential tax worries than the receivers in this scenario.
Is anarchism just a kooky fringe ideology? Maybe not.
Michael Malice’s latest book (released a week ago), The Anarchist Handbook, made it all the way to #1 among nonfiction books on Amazon. He accomplished this feat with no publisher, no marketing department, and not even a book launch.
I can see very dense storage coming, it’s almost inevitable and it will help Safe a lot, an awful lot. Then we worry less as redundancy can be almost every node stores every bit of data. The metadata/mutable data/crdt stuff is more real time though and needs the network to continually apply that and make it available to everyone. I love the fact it’s coming together nicely.