Farming is dead - long live the node-hosting volunteers

As part of the legal tidying up required to move to the Swiss-based
foundation, @JimCollinson mentioned a few weeks back that the term farming had unfortunate tax consequentials for some folks

Which begs the question - What should we now call the process of earning income from hosting chunks?

And perhaps any consensus we get here may help us finally find an acceptable name for Genesis DBC.

Node Hosting ?
Guarding the Sacred Chunks?
Chunk Cherishing?
Defending the Data?
NOTAs? None of the Above?

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Interested to hear why.
Call it what you like if you earn from doing “it” then it will be taxed, no?

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Aye, but how it is classified it depends on taxation to which degree. In this case avoiding the VAT it would potentially incur by it being misclassified as a ‘passive’ endeavour.

So we are being a bit more deliberate and direct in the language we are using for the legals… “Resource Supply Rewards” in this case. So you “supply resources” to the Network by running a Node, and are rewarded, as a supplier, with Resource Rewards.

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Could we also have a Safe specific term that is defined to mean supplying resources for rewards?

Example: safeing

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Can you say anything about when we can expect the swiss-based foundation to become established?

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It’s going through incorporation as we speak, so likely will be up on it’s feet within the next month–six weeks

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taxes - is the face of beast on the made safe protocol ?
Yeah you should KYC everyone just to be SAFE !!!
And don’t forget to embed a back door into the protocol !

Can we have a considered way forward from you that
a) does not get our developers and investors hammered for these nasty taxes
b) does not rely on juvenile wannabe anarchist bravado?

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bitherding :ram: :sheep:

juvenile wannabe anarchist bravado

think about the children, they need to SAFE
so why not on top of built-in on chain government taxes we do social spending too ?
Like we should have SAFE the children fund !!!

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OK lets hear more about this proposal in detail then :slight_smile:

WE take your money and WE donate them to MY SAFE the government children foundation for social spending and equality.

Is that it?

DA COMRADE, and it should be mandatory built-in the protocol with a back door for safety and security.

yawn yawn yawn - more yawn

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One of the reasons storj died is because they did the tax meme.

lost all interest now

These tax implications will still only be voluntary when we are up and running I hope? I mean there is still no way for anyone but me to know how many coins I have and what I do with them right?

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That depends, if node operators are plainly visible, the network can be taken down, simply targeting those IPs. Not even physically, just blocking a certain port on those IPs by the ISPs.
There is a reason why development is taking so long.