Is it possible to use the Bitcoin technology as a reputation system for sales?


Imagine a marketplace where all nominal money prices are the same for products (for tax purposes), but you gain and lose "reputation" in the form of a Bitcoin style transaction.

Case 1: Those who have provided the most value in actual wealth (goods and services) to others, gain reputation (repcoins?). The money price could be $1, and that is what anyone who pays taxes, calculates that tax, based on. Say you buy a used laptop for $1 + 2 repcoins. You calculate tax, based on the $1.

Case 2: One might even ostensibly "collect" dollars with particular characteristics of serial number or whatever, so that you buy the "collectible" dollar, for $1 + 2 repcoins and the laptop is a free gift. That way, no one could accuse you of tax dodging. You paid for the product you wanted (the dollar) They threw in the laptop.

Shane Maness

Posted 2015-10-30T11:26:03.013

Reputation: 123

I think the main benefit would be using something with the characteristics of the blockchain. Basically a decentralized list of reputation that can be confirmed by each user and cannot be gamed. – Charles S – 2015-10-30T13:09:09.917

Taxes are usually based on the fair market value of goods and services exchanged, not solely on money. – Nate Eldredge – 2015-10-30T14:25:56.947


This question reminded me of

– Nate Eldredge – 2015-10-30T15:19:53.720

nate, the good exchanged is worth a dollar. ;) – Shane Maness – 2015-10-30T16:42:14.010

@ShaneManess I'm not sure what you're going for. Are you trying to create a tax dodge? (In that case, I don't think this will fool the IRS.) Are you trying to create a reputation system? (In that case, the laptop seller might have a lot of repcoins, even though everyone hates his guts.) – Nick ODell – 2015-10-30T17:12:42.040

nick. dodge, like the dog/pig trades used to circumvent the price controls on pigs in WWII Germany – Shane Maness – 2015-10-30T17:16:13.333

No answers