Slightly shorter Taxability and Entities section

This commit is contained in:
Jeff Burdges 2016-11-08 17:03:46 +01:00
parent e34c2da1fc
commit 25a4daa8d4

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@ -422,17 +422,19 @@ entity. Finally, we assume that at the time digital coins are
withdrawn, the wallet receiving the coins is owned by the individual
who is performing the authentication to authorize the withdrawal.
Preventing the owner of the reserve from deliberately authorizing
someone else to withdraw electronic coins would require extreme
measures, including preventing them from communicating with anyone but
the exchange terminal during withdrawal.
someone else to withdraw electronic coins would require even more
extreme measures.
% SHORTER:
% including preventing them from communicating with anyone but
% the exchange terminal during withdrawal.
% FIXME: Oddly phrased:
As such measures would be
totally impractical for a minor loophole, we are not concerned with
enabling the state to strongly identify the recipient of coins
from a withdrawal operation.
% As such measures would be
% totally impractical for a minor loophole, we are not concerned with
% enabling the state to strongly identify the recipient of coins
% from a withdrawal operation.
% FIXME: Seems to kinda duplicate the previous paragraph, albeit doing
% a better job.
% SHORTER: There might be a shorter way to say this and the previous
% paragraph together, but now I see why they were kept apart.
We view ownership of a coin's private key as a ``capability'' to spend
the funds. A taxable transaction occurs when a merchant entity gains
control over the funds while at the same time a customer entity looses