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Re: [Taler] How does the "Withdraw Loophole" enable untaxed payments?

From: Christian Grothoff
Subject: Re: [Taler] How does the "Withdraw Loophole" enable untaxed payments?
Date: Fri, 12 Mar 2021 10:14:18 +0100
User-agent: Mozilla/5.0 (X11; Linux x86_64; rv:68.0) Gecko/20100101 Thunderbird/68.12.0

On 3/12/21 8:15 AM, Rune K. Svendsen wrote:
> Dear list,
> I was reading Florian Dold's thesis on GNU Taler, and I had trouble
> understanding the allegedly problematic aspect of the "Withdraw
> Loophole". My reasoning about this being unproblematic is as follows:
> since the merchant, who receives payment via the Withdraw Loophole,
> will eventually need to deposit the funds with an exchange (in order
> to be paid by the exchange), and thus reveal the amount it has
> received, it does not enable untaxed payments. The exchange will
> always know exactly the amount received by a merchant, regardless of
> whether it was received via the Withdraw Loophole or not.
> Can someone elaborate on why the above reasoning doesn't hold?

The merchant receiving coins via the withdraw loophole can spend them at
another merchant.

Anyway, Dold's thesis contains a rather concise explanation on how to
*fix* the withdraw loophole, I've attached an unpublished draft that
elaborates a bit more on the fix and the drawbacks it entails, in case
you are curious.


Attachment: withdraw.pdf
Description: Adobe PDF document

Attachment: signature.asc
Description: OpenPGP digital signature

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