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

John Flynn

New Member
Jan 4, 2018
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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
 
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John Flynn

New Member
Jan 4, 2018
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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.
 
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RocketTeam

Member
Nov 18, 2017
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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
 

John Flynn

New Member
Jan 4, 2018
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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
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.
 

RocketTeam

Member
Nov 18, 2017
109
39
78
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.
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
 
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camosoul

Grizzled Member
Sep 19, 2014
2,261
1,130
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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.
 
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John Flynn

New Member
Jan 4, 2018
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Anyone have any clue as to why I’m getting so many no votes with my scaled back proposal?
 

Rodrigo Fernandez

New Member
Jan 24, 2016
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Escazu, Costa Rica
dash.cr
Dash Address
XhaUJfb7kpmTpUXX5dzqPJiFU6xNDvZRKY
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,
 

GrandMasterDash

Grizzled Member
Masternode Owner/Operator
Jul 12, 2015
3,137
1,227
1,183
Anyone have any clue as to why I’m getting so many no votes with my scaled back proposal?
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/
 

John Flynn

New Member
Jan 4, 2018
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8
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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?
 
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TheSingleton

Active Member
Masternode Owner/Operator
Mar 27, 2017
277
141
103
@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.
 

John Flynn

New Member
Jan 4, 2018
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@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.
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.
 

Orion

Member
Aug 21, 2017
135
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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?
 

John Flynn

New Member
Jan 4, 2018
26
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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?
Thanks, I was confounded as well. I've never used Discord.
 

raze

King of the Morlocks
Foundation Member
Masternode Owner/Operator
Mar 9, 2014
337
372
233
Dash Address
Xtrdw361DvoyDhxL5XoeAvTxTPvM4dXuLW
If i get even half of my Dash back, I would likely try this again with some modifications.
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.
 

John Flynn

New Member
Jan 4, 2018
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I explained why there is opposition.

You're putting brand new tires on a car with no engine.
Your comments above amount to little more than a disjointed, pessimistic rant that explains nothing about the thought process of the MNO voters.
 

John Flynn

New Member
Jan 4, 2018
26
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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.
Please see my new pre-proposal here: https://www.dash.org/forum/threads/...-jurisdiction-international-tax-guides.28459/
wherein I propose to, among other things, commission tax guides for a number of other countries. And I would appreciate yours and others thoughts on whether that would allay the concerns that led to no votes.

I truly don’t understand how an inexpensive proposal like my original one failed while things like an 800 Dash per month proposal to sponsor an internet tv show pass.
 

John Flynn

New Member
Jan 4, 2018
26
8
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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.
Also, in terms of raising money from people directly for such a project, I doubt I could raise enough to do it. People don’t want to spend their own money. It seemed like getting to people to vote for a treasury funding of such a project would be an easier sell than getting people to go out of pocket. Especially when there was plenty of money left unallocated in the budget.