The folks behind web privacy tool Tor will now accept donations in Bitcoins. The project, which attempts to anonymize connections across the internet, will team up with payment biz Bitpay to allow users to donate using the crypto-currency; BTC contributions will be ultimately converted into dollars for the developers' coffers …
Rise and fall
If these guys declare revenue, then I presume that they will have to pay taxes, what happens should they make a declaration when bitcoin is worth $4000, receive their tax bill, then bitcoin drops down to £200 dollars just before they make their payment?
Due to the volatile nature of Bitcoins, I would consider it an extremely risky means by which to get paid or make any kind os declaration.
Would it not be safer to wait until some stability can be ensured ?
Like the Stock market some people will make money with bitcoins but the majority will end up losing.
Re: Rise and fall
Well no, they're a recognizedly non-profit org, so they don't pay taxes (not on income, anyway). The volatility is certainly a concern in general though.
" the Tor platform is popular among privacy advocates and anyone else who simply doesn't want to be easily traced online"
Its also growing in popularity amongst people who carry out SQL injection attacks against websites. I've blocked about 20 Tor exit nodes in the past two weeks... and of course there is no-one you can complain to. If scummy "hackers" abuse Tor and websites start blocking Tor exit nodes en-mass then it makes the whole thing useless for those people who really have a need for it (and no I'm not talking about people who are simply paranoid)
Did I read that right ? $40,000 per coin ?
Looks like the ones who started bitcoining at the beginning are the ones who will cash in on the whole thing the best.
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