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<div class="moz-cite-prefix">In my experience, Paypal DOES report to
governemnts, over a certain amount. This is mandatory for them.<br>
<br>
The grids, like any other commercial service, are supposed to
report their own transactions (how much virtual currency they
sold) but may escape from the rules of a banking service like
paypal (report what the users earned), at least as far as there
are a few transactions.<br>
<br>
It brings an interesting question. If I sold this year 1000 "MUC"
(My Own Currency) for, keep it simple, 1000 EUR... These are in my
users' accounts, and they will spend it and, some day, they will
ask a refund, so this is not my money. How do I calculate what I
really earned? If I don't make it clear, the tax controlers may
consider my 1000 EUR as benefit and I will have to pay taxes on
money somebody else owns. That's why reporting users transactions
is not only a requirement, it would also be safe practice to avoid
paying taxes on behalf of users.<br>
<br>
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Le 19/12/2014 07:09, M.E. Verhagen a écrit :<br>
</div>
<blockquote
cite="mid:CA+RcaTSAyydXe6nz5xJRwOWm=143ywh6W_xh8SdigwYNtEGpFg@mail.gmail.com"
type="cite">
<div dir="ltr">I do not think paypal, omc, podex or others are the
virtual currency providers of the grids. The grids sure have do
their taxes in the country the reside in.
<div>There is no such requirement thing for the grids to report
transactions over a certain amount. (The banks in the eu have
got some rules about reporting large transactions and so, but
there does not exists such a requirement for the companies
living here.) </div>
</div>
<div class="gmail_extra"><br>
<div class="gmail_quote">2014-12-19 3:27 GMT+01:00 John Sheridan
<span dir="ltr"><<a moz-do-not-send="true"
href="mailto:john@pseudospace.net" target="_blank">john@pseudospace.net</a>></span>:
<blockquote class="gmail_quote" style="margin:0 0 0
.8ex;border-left:1px #ccc solid;padding-left:1ex">
<div text="#000000" bgcolor="#FFFFFF"> Correct me if I'm
wrong, but aren't virtual currency providers required to
register with the government now (ala BitCoin)? I know on
the SL side of things they made some changes wherein those
who cash out over a certain amount yearly need to register
their tax information. Maybe it would be worth running
this past your lawyer or accountant?
<div>
<div class="h5"><br>
<br>
<br>
<div>On 12/18/2014 05:18 PM, Ethan Grammatikidis
wrote:<br>
</div>
</div>
</div>
<blockquote type="cite">
<div>
<div class="h5">
<div>On Thu, Dec 18, 2014, at 02:07 PM, Erik Gordon
Bainbridge wrote:<br>
</div>
<blockquote type="cite">
<div><span style="color:rgb(64,64,64)"><span
style="font-family:"arial""><span
style="font-size:10pt">What are the
advantages and disadvantages of using
Paypal as a grid currency rather than OMC
or Podex? I'm interested in the
perspectives both of people who sell in
grids and of grid owners. I am building a
grid for a company that wants to use a
Kitely model of fictional currency
combined with Paypal instead of using OMC
or Podex. I think the complexity of
setting up fictional currency + Paypal
could outweigh the advantages. I need
both perspectives so I can give my client
the best advice. </span></span></span><br>
</div>
</blockquote>
<div>
<div> </div>
</div>
<div>What? OMC and Podex both offer "fictional
currency" backed by real money. Any grid with an
exchangeable currency provides "fictional
currency" backed by real money in one way or
another. Your choice is whether to contract with a
company (OMC or Podex) which specializes in this,
or to making your own system. <br>
</div>
<div> </div>
<div>Making your own system doesn't just mean
writing code, you will also have to choose what
rules to apply. If I were doing this, I'd think
deciding on the rules would be harder work than
writing the code.<br>
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