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Imagine a marketplace where all nominal money prices are the same for products (for tax purposes), but you gain and lose "reputation" in the form of a Bitcoin style transaction.

Case 1: Those who have provided the most value in actual wealth (goods and services) to others, gain reputation (repcoins?). The money price could be $1, and that is what anyone who pays taxes, calculates that tax, based on. Say you buy a used laptop for $1 + 2 repcoins. You calculate tax, based on the $1.

Case 2: One might even ostensibly "collect" dollars with particular characteristics of serial number or whatever, so that you buy the "collectible" dollar, for $1 + 2 repcoins and the laptop is a free gift. That way, no one could accuse you of tax dodging. You paid for the product you wanted (the dollar) They threw in the laptop.

Shane Maness
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  • I think the main benefit would be using something with the characteristics of the blockchain. Basically a decentralized list of reputation that can be confirmed by each user and cannot be gamed. – Charles S Oct 30 '15 at 13:09
  • Taxes are usually based on the fair market value of goods and services exchanged, not solely on money. – Nate Eldredge Oct 30 '15 at 14:25
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    This question reminded me of http://xkcd.com/1494/ – Nate Eldredge Oct 30 '15 at 15:19
  • nate, the good exchanged is worth a dollar. ;) – Shane Maness Oct 30 '15 at 16:42
  • @ShaneManess I'm not sure what you're going for. Are you trying to create a tax dodge? (In that case, I don't think this will fool the IRS.) Are you trying to create a reputation system? (In that case, the laptop seller might have a lot of repcoins, even though everyone hates his guts.) – Nick ODell Oct 30 '15 at 17:12
  • nick. dodge, like the dog/pig trades used to circumvent the price controls on pigs in WWII Germany – Shane Maness Oct 30 '15 at 17:16

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