Re: HODL Tax Proposal

George Burke, a co-founder of Portal and an organizer for Silicon Valley Bitcoin, shares his views on the concept of a "network tax" on property that is already owned. He argues against the notion of being charged for not utilizing an asset, stating that it undermines our understanding of property ownership. Burke points out that when an asset is acquired, a network tax is paid by the sender, and this tax is incurred again with every sale or self-transfer by the current owner. He emphasizes that holders (HODLers) of assets provide a crucial service by contributing to the scarcity of the network, which in turn supports the longevity and growth of its value. His perspective highlights the importance of recognizing the contributions of those who choose to hold onto their assets rather than actively use them.

For further information about George Burke's ventures and initiatives, one can visit the websites of Portal, Silicon Valley Bitcoin, and FounderPool. Additionally, for enhanced security communications, Burke recommends using his PGP key, accessible through Onename.