One thing that would further legitimize Bitcoin with government oversight is the payment of relevant taxes to Federal and State government (in local equivalent currency) for e-commerce and mining activities.

To this end, I think it would be good to highlight the legitimate business models, and how much tax revenue those companies are bringing to their community. One way this could happen is to have a website of sorts that details the tax paid on the transactions and/or mining. Perhaps this could be detailed on a per country basis.

  • Is there any effort underway that is attempting this?

  • If not, what are some possible ways to publicize the taxes paid to each local government?

  • Trying to stir up a debate? StackExchange Q&A is not a good place for this. I voted to close it. Nov 22, 2012 at 20:29
  • @StephenGornick I had no idea this might be considered controversial. My thought was along the lines of creating a voluntary "Better Business Bureau" of companies that are transparent in their actions with viable business models. Like my opening statement said, I'm exploring ways to legitimize Bitcoin... from many different perspectives. Nov 22, 2012 at 23:57

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I think it would be fantastic if my tax jurisdiction were to accept payment in bitcoins. Every additional way bitcoins can be used adds to bitcoin's value -- it accelerates the network effect.

When they do begin accepting bitcoins, each jurisdiction could be asked to supply the totals (via FOIA request, at a minimum). Some organization or individual could then take that data and compile a report.

But expect this to occur long, long after bitcoin is "legitimized", as you describe it, and not before.

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    I clarified the question. I'm not talking about paying taxes in Bitcoin format, but to partner with other business that are using Bitcoin and to highlight those companies and their success. Doing so may bring more diversity and quality to the seller ecosystem. Nov 23, 2012 at 0:25

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