THIS IS NOT A CALL TO ARMS
This is however, a formal request for transparency.
The following post, is letter-for-letter what I posted in the comments of the "The State of Voat" thread that is currently at the top of all. My post starts below the line.
Your donations have helped tremendously to these offset expenses and we love each of you who donated, but we are on a whole new level now. Take for example that the total amount of all donations received didn’t entirely cover our first month in the cloud.
That's weird, because according to your old bitcoin donation address, you've only spent a about one fifth of the money we gave you guys.
I'm giving you guys the benefit of the doubt here, because I liked your site enough to donate, but I can personally promise you guys a PR shit storm if you don't have a satisfactory answer for why you need more money, with 46.8 BTC sitting untouched in your donation jar. Does $13K really not put a dent in it? Maybe you should release some expenses so we can verify your claims.
@atko and @PuttItOut, I truly hope I'm overreacting here.
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definitelynotabot ago
Transparency is always good. One thing I wonder, how does a business deal with the tax implications of turning bitcoin into money? I mean, sure you can just sell the bitcoin and get a wire transfer, but what do you do when the tax man comes and says "hey, where'd this 13grand come from? you planning on claiming that as income?". Dealing with that may be whats preventing them from using the bitcoin.
HoneyNutStallmans ago
In most jurisdictions, it will be income. They "earned" the BTC as income.
There are no capital gains in Switzerland. If they exchange BTC for money, they do not have to worry about the diffence in the price when they bought it versus when they sold it.
...I also imagine they don't have to say anything about their income until it's time for the yearly filing. I don't know, ask someone Swiss.