• Forum has been upgraded, all links, images, etc are as they were. Please see Official Announcements for more information

Pre-Proposal: DASH U.S. Tax Guide for Masternodes, Miners and Investors

John Flynn

John Flynn

New member
Hello everyone. My name is John Flynn and I’m an attorney in Central Arkansas. I’ve been in solo practice for 18 years, representing primarily small businesses and consumers in bankruptcy, and estate and tax planning.

I first became involved in cryptocurrency in early 2011 when I started mining bitcoin with the GPUs on my office computers. I did that for about two weeks before I decided I was not beating the cost of electricity and I was concerned about ruining my GPUs. I’ve been a cryptocurrency user and investor since then and, since last summer, I've been using DASH as well.

With the huge gains that everyone experienced last year, it seems to me that many are concerned about taxes. With DASH, it seems there are special concerns that MNs might have as well and I wondered what the community, and specifically the Masternodes, might think of a proposal in which I would agree to write and publish in the public domain a DASH Tax Guide. It would be US focused of course, and if it worked out, attorneys in other countries might be willing to propose similar guides. I would envision this to be a booklet written in layman’s terms, avoiding the legalese and complexities that a more comprehensive treatment might include. I would expect it to be between 18–30 pages and I would publish in PDF and Word here and on the DASH subreddit. I would also publish free through Smashwords which would get it on iBooks, Barnes and Noble and other ebook outlets for free, which would also have the effect of promoting DASH through those online publishing outlets.

My thought is that the research, writing and editing would likely take me 60-80 hours and if approved at the end of January I could guarantee publication by April 15th, 2018.

The proposal would be for 24 DASH, broken down as follows:

Proposal Fee: 5 DASH
LexisNexis / Legal Research costs: 3 DASH
Editing: 1 DASH
Attorney Time in Research and Writing: 15 DASH


I appreciate any feedback.

Thanks,

John Flynn


EDIT: PROPOSAL IS NOW LIVE: https://www.dashcentral.org/p/DASH-US-Tax-Guide
 
Last edited:
Some have asked in a previous thread about a YouTube Q and A video. While I don’t want to make it part of the official proposal as I’m not sure it will be needed, after release of the Guide, I will post here and in the subreddit soliciting questions and if there are more than a few I’ll happily do a video.
 
Dear @John Flynn,

I'm just a new member here, somehow it is a good proposal to look on. But could you give specific details what will you do and how will you do. And I think it could be better if you could create your timeline projection regarding this project.

Wish you good luck for this project. :)

Cheers,

Admin
RocketTeam
 
RocketTeam said:
Dear @John Flynn,

I'm just a new member here, somehow it is a good proposal to look on. But could you give specific details what will you do and how will you do. And I think it could be better if you could create your timeline projection regarding this project.

Wish you good luck for this project. :)

Cheers,

Admin
RocketTeam
Click to expand...

Well, it’s essentially as I laid out above. I am an attorney and will research and write a DASH tax Law guidebook for the community. It’s fairly straightforward and more scaled down than a pre-proposal I previously made. I would have it published by April 15th. I’m not quite sure what else you might be interested to know, but I’ll be happy to answer any specific questions.
 
John Flynn said:
Well, it’s essentially as I laid out above. I am an attorney and will research and write a DASH tax Law guidebook for the community. It’s fairly straightforward and more scaled down than a pre-proposal I previously made. I would have it published by April 15th. I’m not quite sure what else you might be interested to know, but I’ll be happy to answer any specific questions.
Click to expand...

Dear @John Flynn,

Thank you so much for your reply, I think it is a good proposal and it does sure give a great exposure for the community regarding DASH tax Law. Wish you good luck for this project :)

Cheers,

Admin
RocketTeam
 
I quit running MNs because of the fickle and corrupt regulatory environment in the US. Back when it was nearly worthless, MNs were a fun way to participate and test the ideas of a crypo for grown ups.

I fear your guide won't really make much difference because the US regulators don't follow any of their own rules or laws. They just make stuff up, pretend not to understand, etc... They do anything to monkey-wrench you even when you're being completely open and "honest" (Not that there is anything honest about allowing these people to get away with what they're doing. Codified corruption is still corruption.).

The only good thing I see coming from this, is that the man behind the curtain will have to step out and show us just how evil he really is.

But, will anyone take a stand, even then?

It's looking like crypto will allow itself to be crushed under the burden of corrupt regulation. Compliance only puts you on the radar as a target, it's a guarantee you'll be attacked, not safety from the attack.

It's a rigged game and the only way not to be thrown in prison is to not play. So, I quit.
 
Last edited:
I just voted yes.
We need to be ahead in this field. If the regulators don't know what they are doing, the better, we will have a stronger influence when the time comes.
Hope your proposal passes.
Regards,
 
John Flynn said:
Anyone have any clue as to why I’m getting so many no votes with my scaled back proposal?
Click to expand...

The pre-proposal discussion was quite short / didn't garner wider discussion. Stay engaged and have robust answers to every challenge. You probably need to highlight the differences between this proposal and the legal advice that was previously issued by Core.
https://www.dash.org/legal/
 
Well, with 8 hours of voting left, it is sitting at 412 Yes and 314 No. And no one can explain why there is such opposition. Yet I have a majority of voting masternodes saying yes. Is there any avenue for getting the 5 Dash proposal fee (or some portion of it) reimbursed?
 
Last edited:
@John Flynn Unfortunately the 5 Dash are gone. Since most vocal MNs where very supportive you could ask them for donations to get back some of your Dash.

I voted yes and really don't get why this failed.
 
TheSingleton said:
@John Flynn Unfortunately the 5 Dash are gone. Since most vocal MNs where very supportive you could ask them for donations to get back some of your Dash.

I voted yes and really don't get why this failed.
Click to expand...

Thank you.

To that end, if anyone would care to donate towards a 5 Dash reimbursement campaign, contributions would be greatly appreciated at this address: XqXtez4p8kv7otVM1yWwmojcjcp9gLKn8W

If i get even half of my Dash back, I would likely try this again with some modifications.
 
I would really like to hear the reasoning of someone who did vote no because all comments on Dash Central where positive.
Have you ever asked on Discord if there are MNOs who oppose your proposal?
 
Orion said:
I would really like to hear the reasoning of someone who did vote no because all comments on Dash Central where positive.
Have you ever asked on Discord if there are MNOs who oppose your proposal?
Click to expand...

Thanks, I was confounded as well. I've never used Discord.
 
John Flynn said:
If i get even half of my Dash back, I would likely try this again with some modifications.
Click to expand...
I fear you'd likely get the same results, even with modifications. I voted for it, but my guess is that many MNOs, particularly those outside the US, saw limited utility in the proposal. For a proposal like this that's relatively low cost and benefits only a small subset of the Dash ecosystem, it might be more effective to raise funds independent of the budget system. That way you could raise the funds directly from those who have a vested interest in the service and wouldn't require consensus of the entire DAO.
 
You must log in or register to reply here.
Back
Top