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From: George Burke <gb@geoburke.com>
Date: Thu, 1 Aug 2024 16:38:11 -0700
Message-ID: <CAHYx7Bu9SfTgmLoPJ-7v=rY+C9pS4p4gO3e7gqKurwRuij8ouA@mail.gmail.com>
Subject: Re: [bitcoindev] HODL Tax Proposal
To: Richard Greaser <thebitcoinbugle@gmail.com>
Cc: Bitcoin Development Mailing List <bitcoindev@googlegroups.com>
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A tax on property already owned is something I'm fundamentally against.
Being charged for lack of usage erodes our concept of property ownership,
especially when usage itself sufficiently subsidizes the network. The
"network tax" was already paid on the acquisition of the asset by the
sender, and another network tax will be paid by the current owner upon
every subsequent sale or self-transfer.

My perspective: HODLers are indeed providing a valuable service to the
longevity and growth of network value. They're providing scarcity.

--

*George Burke *
*Co-founder, Portal <https://portaldefi.com/> *
Silicon Valley Bitcoin <https://svbtc.org/>, Organizer
Co-founder, FounderPool <https://founderpool.co/>

San Juan, PR / San Francisco, CA
Keybase <https://keybase.io/geoburke> || OneName
<https://onename.com/geoburke>

*For security, encrypt with my PGP key <https://onename.com/geoburke>*


On Thu, Aug 1, 2024 at 2:13=E2=80=AFPM Richard Greaser <thebitcoinbugle@gma=
il.com>
wrote:

> Hi everyone,
>
> It has become apparent to me that there is an issue where users of the
> network holding their coins, are not adding value to the network.
>
> As miners continue to get squeezed post halving, they would benefit
> tremendously from fees being taken from individuals refusing to move thei=
r
> coins, providing increased security to the network.
>
> I have written out a proposal more in depth and is attached below.
>
> --
> You received this message because you are subscribed to the Google Groups
> "Bitcoin Development Mailing List" group.
> To unsubscribe from this group and stop receiving emails from it, send an
> email to bitcoindev+unsubscribe@googlegroups.com.
> To view this discussion on the web visit
> https://groups.google.com/d/msgid/bitcoindev/6512db18-bd15-462e-92fd-7549=
b5e885e7n%40googlegroups.com
> <https://groups.google.com/d/msgid/bitcoindev/6512db18-bd15-462e-92fd-754=
9b5e885e7n%40googlegroups.com?utm_medium=3Demail&utm_source=3Dfooter>
> .
>

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<div dir=3D"ltr">A tax on property already owned is something I&#39;m funda=
mentally against. Being charged for lack of usage erodes our concept of pro=
perty ownership, especially when usage itself sufficiently subsidizes the n=
etwork. The &quot;network tax&quot; was already paid on the acquisition of =
the asset by the sender, and another network tax will be paid by the curren=
t owner upon every subsequent sale or self-transfer.=C2=A0<div><br></div><d=
iv>My perspective: HODLers are indeed providing a valuable service to the l=
ongevity and growth of network value. They&#39;re providing scarcity.<br cl=
ear=3D"all"><div><div dir=3D"ltr" class=3D"gmail_signature" data-smartmail=
=3D"gmail_signature"><div dir=3D"ltr"><div dir=3D"ltr"><div dir=3D"ltr"><di=
v dir=3D"ltr"><div dir=3D"ltr"><div dir=3D"ltr"><div dir=3D"ltr"><div dir=
=3D"ltr"><p><span style=3D"font-family:arial">--</span></p><div><div dir=3D=
"ltr"><div dir=3D"ltr"><div dir=3D"ltr"><p><b style=3D"font-size:16px">Geor=
ge Burke=C2=A0</b><font style=3D"font-size:16px"><b><br></b></font><b><font=
 size=3D"2">Co-founder,=C2=A0</font><a href=3D"https://portaldefi.com/" sty=
le=3D"color:rgb(17,85,204)" target=3D"_blank">Portal</a>=C2=A0</b><br><a hr=
ef=3D"https://svbtc.org/" style=3D"color:rgb(17,85,204)" target=3D"_blank">=
Silicon Valley Bitcoin</a>, Organizer=C2=A0<br><font size=3D"2">Co-founder,=
=C2=A0</font><a href=3D"https://founderpool.co/" style=3D"color:rgb(17,85,2=
04)" target=3D"_blank">FounderPool</a>=C2=A0<br></p><div><div dir=3D"ltr"><=
div dir=3D"ltr"><div dir=3D"ltr"><p><span style=3D"font-size:x-small">San J=
uan, PR / San Francisco, CA=C2=A0</span><font size=3D"1"><br></font><a href=
=3D"https://keybase.io/geoburke" style=3D"font-size:x-small;color:rgb(17,85=
,204)" target=3D"_blank">Keybase</a><span style=3D"font-size:x-small">=C2=
=A0||=C2=A0</span><a href=3D"https://onename.com/geoburke" style=3D"font-si=
ze:x-small;color:rgb(17,85,204)" target=3D"_blank">OneName</a>=C2=A0<font s=
ize=3D"1"><br></font></p></div></div></div></div><p></p><p><i>For security,=
 encrypt with my=C2=A0<a href=3D"https://onename.com/geoburke" target=3D"_b=
lank">PGP key</a></i></p><div style=3D"display:inline-block;width:16px;heig=
ht:16px"><i>=C2=A0</i></div></div></div></div></div></div></div></div></div=
></div></div></div></div></div></div><br></div></div><br><div class=3D"gmai=
l_quote"><div dir=3D"ltr" class=3D"gmail_attr">On Thu, Aug 1, 2024 at 2:13=
=E2=80=AFPM Richard Greaser &lt;<a href=3D"mailto:thebitcoinbugle@gmail.com=
">thebitcoinbugle@gmail.com</a>&gt; wrote:<br></div><blockquote class=3D"gm=
ail_quote" style=3D"margin:0px 0px 0px 0.8ex;border-left:1px solid rgb(204,=
204,204);padding-left:1ex">Hi everyone,=C2=A0<div><br></div><div>It has bec=
ome apparent to me that there is an issue where users of the network holdin=
g their coins, are not adding value to the network. <br><br></div><div>As m=
iners continue to get squeezed post halving, they would benefit tremendousl=
y from fees being taken from individuals refusing to move their coins, prov=
iding increased security to the network.=C2=A0<br><br>I have written out a =
proposal more in depth and is attached below.=C2=A0</div>

<p></p>

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roups.google.com/d/msgid/bitcoindev/6512db18-bd15-462e-92fd-7549b5e885e7n%4=
0googlegroups.com</a>.<br>
</blockquote></div>

<p></p>

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