Sorry bro I didn’t mean anything!! I just got excited about SAFE I didn’t mean to offend anybody. Seriously man I hope you and everyone stays a part of the community! I’m so excited to see this community really taking off after so long and everyone here is awesome man, I’m really sorry if my excitement came off as smart-assedness because honestly I’m just excited about this project is all. I gotta control it though man I apologize
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Apparently you don’t understand the tax code or you’re not in the United States. In the United States barter is taxed, even gifts are taxed. Any kind of value exchange is taxed.
And if you don’t pay the tax then you can be investigated whenever the government is looking to make an example of someone. Just like how the SEC did.
Bitcoin is technically barter but you still have to pay taxes on those transactions even if you never cash out. Safecoin farmers likely will have to pay income taxes.
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Alright I’ll just DIRECTLY reiterate what my post already DIRECTLY said. “I’m not sure if there are trolls in here.” Anyway my mention of trolls was barely the main point, hence why it appeared like I was beating around some kind of bush, by putting it in parentheses (in relation to my actual main topic, lol). And yeah, well, sure, after the Maidsafe-affiliated moderators gave their response—with the highest possible accuracy of answering an unsure person’s question—of course continued discussion can happen. I guess, LOL (oops, beating around the bush again… I think). On that point it should be clear that I have not as much knowledge as they do, so I didn’t talk about anything else. That said, I know there are a trillion reasons for creating SC instead of BTC, but I’m not good at giving a perfectly technical response. Snide remarks aside, I can see that there could be some people that have a completely different argumentative style that lets discussion go on and on and on. It just makes no sense to me. But since there are now a million discussion points out of nowhere beside the OP’s question, they look a little fun to talk about.
No actually nevermind, they aren’t fun. Look at all those mentions of multi-billion dollar companies. Sounds like a moral thing to talk about… not. I’ll stick with what this company chooses to do. I just read a bunch of people saying to be nicer, so hopefully more are, but I’m not (I’ll be the one bad guy!). But I actually am, see, look at this face 
All I’m saying is to have more social acceptance for bipolar people…
Pegging works just fine for it’s purpose. If you don’t like it then just hold dollars.
Just wanted to mention only @ioptio is affiliated to Maidsafe, but doesn’t do any moderating actually. The other moderators are all volunteers out of the community.
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Barter doesn’t happen though…
It is trading computing services for computing services. With no negotiation involved.
Is my SMTP server taxed for trading emails?
Certainly if you want to be a stickler you can report it. I don’t forsee it being an income for most folks though. Just Services for like services as a break even co-op.
If you have a massive server farm and make money you ought to report it. Unlike most, I don’t see that happening. The value in the network is the network. Farming is going to always work out to be break even financially at the very best – Because the value of using the network far exceeds the cost using and participating the network, you don’t need to pay people much to use the network.
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This seems to be wandering of topic, maybe time to consider “reply as linked topic”.
I disagree. Taxation is definitely either and advantage or disadvantage however it is cut.
Bitcoin is definitely “on radar” and highly regulated.
It will be very difficult for authorities to to have a radar on SAFE, aside from the fiat exchanges – Once it is in the network there is no blockchain to trace… It’s a different bird…
how exactly is this related to the topic? (Why SAFE COIN instead of Bitcoin?)
Edit: Oh i got it … sorry xD
SAFEcoin has advantages over bitcoin when it comes to the traceably and taxability.
Seems clearly on topic to me.
Yes it would be a wild guess… Unfortunately. Why? Because that’s why many individuals and companies avoid crypto currencies - wild guessing means risk with tax audits. That has a negative impact on the adoption of crypto currencies of course.
I cannot show you the accounting procedure but I am sure your government has one. Roughly speaking, the moment you get a coin, you are supposed to record its fiat equivalent and the same when you spend it. Then you report income tax on the net difference (at the end of reporting period).
If nobody can audit it, that doesn’t mean you are not obliged to report (I don’t blame anyone for not reporting, I am just saying how it is supposed to work).
When you spend your SAFE coin, it doesn’t matter what it’s for, you just need to check how much it’s worth in fiat at the time.
For example in Oz you need to keep transaction records of parties you transact with and how much the coin was worth at the time of transaction. That seems to apply even if you’re not running a business.
And by the way I would bet that bitcoin mining rules apply to SAFE mining rules if you farm enough SAFE (A$10K or more per year - it at would be a nice problem to have of course).
@Artiscience, yes it’s uncommon to have such large SD capacity today, but it is also true that with pruning on (if you don’t need the whole copy of the BTC block chain), anyone can use SD cards.
I think I paid $10 or so for my 16GB SD card. I just checked on BestBuy, a good 64GB microSD card from Samsung is $21, enough for the OS and entire blockchain and the difference between a fairly “basic” option of 16GB and it is just $11, not too bad.
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Like I said, What is the buy price if I never bought, what is the sell price if I never sold? How can it be a capital gain or loss if I never invested?
It just doesn’t fit. It isn’t any different than me having a SMTP server or a Web server or anything else. The bandwidth isn’t taxible unless I buy or sell it…
It is related but better in a separate thread if it continues, because the scope for debate is large and could obscure other points of comparison.
But the fees don’t come out of the people’s pockets, they come out of the SAFE Network’s pocket. It’s a cool new idea, but SafeCoin flows back n forth between the people and the network, so the Network is the one covering the cost of paying the farmers to host the data, not us. So we won’t feel it 
no fees!
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One point that seems to really be missing so far in this thread is this:
Anyone who can provide resources to the network and use it, can access safecoin, and thus fully use the network. If one were to require bitcoin for full usage of the network, use of the SAFE network would be extremely limited. It would be constrained by the availability of bitcoin infrastructure. We’re talking here about anywhere in the world that the network can be interfaced with, even amongst hostile political environments or ones that bitcoin has no presence in.
Safecoin allows resource provided to be translated into recourse received, directly and relevantly, at network speed, without having to interface with another system (bitcoin, dollars, rubles, yen, etc.) and all the hassles attendant with that dance all over the world.
How it might be used as a currency outside of the direct functioning of the network is relevant only in that the characteristics of safecoin should cause it to be desirable beyond the needed use on the network. This will incentivize network participation, beyond the fact that the network should be desirable in many other ways due to its features, killer apps, etc.
Another thing which seems to have not been raised (the lack of which makes the proposal unproductive) is this: It is easy to say, “Why not incentivize the network with bitcoin?” It is quite another to make a technically reasonable proposal as to how such a thing could work, and still have a SAFE Network that retained its functions and capabilities. Comparing the virtues of safecoin vs bitcoin is irrelevant unless this hurdle is jumped. I haven’t seen any evidence of such a proposal that wasn’t completely disrelated to the principles and functions of the SAFE Network as it is coming forward.
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Its completely unfair of you to post that because A) you know I am not a technical person B) You know I don’t come here often and C) It is a completely different question and D) it’s not even a matter of it being a question. I was wanting a dialogue. This dialogue has turned into a question of marketing.
Privacy sells, anonymity doesn’t (maybe to small tech crowds and activists) because it is synonymous with something bad and the media will have a field day with it even if they don’t understand it, in fact especially if they don’t understand it.
SAFEcoin is much more tangible than Bitcoin.
Bitcoin is actually a genealogy… Where x number of bitcoin where created and then sent to x and y, the x sent it to Z and A and y sent it to B and c. c sent his to d f and g. etc etc…
SafeCoin is a lot like real estate – It exists at a certain address and remains there forever. The owner changes, but the coin stays the coin. and doesn’t mutate into smaller and smaller children like Bitcoin does…
I think it is much easier to understand and explain.
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I dont think I understood when I first started this post but now thinking about it yes, popularity. Marketing.
There has been 25 Million dollars of Bitcoin bought and sold in the last 24 hours and that only accounts for trade not taking into account the purchase of goods and services with BTC. There is no crypto-currency out there that even comes close to this.
I’ll clarify my thought process. Safe Coin (SC) will still be used, obviously. I am suggesting via this dialogue that I think Bitcoin and regular old USD should be promoted as the currencies that are able to be used with SC, or to buy into SC… something like that.
I think it is fantastic that you asked! The answers get better every time. Please keep asking away, we are all better for revisiting the basics.
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