> It makes collecting taxes ... harder.
How does that mesh with "If some company systematically went country by country, learned the local HR laws, ... and then handled all accounting and taxes"?
> the point of my business idea above was to solve a pain point around paying a global work force considering the costs of global wire transfers
How much do you think it will cost to "systematically go country by country, learned the local HR laws, partner with the most trusted exchange, and then handle all accounting and taxes"?
> Having a crypto wallet is like having an offshore bank account
> It makes collecting taxes ... harder.
How does that mesh with "If some company systematically went country by country, learned the local HR laws, ... and then handled all accounting and taxes"?
The answer is government, laws, and culture. The governments of Argentina (until things got so bad they elected a self-described anarcho capitalist libertarian!), Venezuela, Cuba, Lebanon, etc. have created terrible environments for their citizens. Crypto is allowing their citizens to break laws that are hurting them. I support the citizens fighting against their socialist and communist governments that are robbing them. That's the core function of empowering citizens with decentralized money.
These are two descriptions you started with: https://news.ycombinator.com/item?id=39371127 and https://news.ycombinator.com/item?id=39371520
It literally is this:
""" If some company systematically went country by country, learned the local HR laws, partnered with the most trusted exchange, and then handled all accounting and taxes, a truly global HR and payment system could be built to make onboarding and paying everyone 10x simpler.
the point of my business idea above was to solve a pain point around paying a global work force considering the costs of global wire transfers vs. instant USDC settlement. """
So. Given all this, here are the questions:
1. Given that wire transfers cost money, and you want to make them cheap/free and instant, how much do you think it will cost to "systematically go country by country, learned the local HR laws, partner with the most trusted exchange, and then handle all accounting and taxes"?
2. Given that, by your own words, crypto is like having money in offshore accounts making tax collection more difficult, how does this mesh with your proposal of having a company do accounting and collect taxes?
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Note: I'm not in the least surprised that you can't answer these questions even if the first one of these I asked very early in this discussion: https://news.ycombinator.com/item?id=39372364
That's the reason there's so much "unwarranted hate" on HN: because people are not stupid, and they don't fall for demagoguery and grand proclamations. 99.9999999999% of all crypto proposals fall down immediately under the lightest of scrutinies: they are inevitably self-contradictory, unworkable, costly, don't do the job advertised, better implemented other technologies, or any or even all of the above.
