301800+ entries in 2.215s
mircea_popescu: well let's look at it. company has 100 btc. it buys "the right to use
a boat for 1 year" for 50.
mircea_popescu: as to the relevance :it's not just taxes. why should
a shareholder that buys now get the benefit of an arbitrary charge for 1 year ?
davout: i'll sell you
a full accounting piece of software
davout: the whole "it can't be taken as
a one time charge" is relevant when you use expenses to reduce your net result as
a way to reduce your taxes, i don't think it has much relevance in BTC-LAND
mircea_popescu: these btc can't be taken as
a one time charge, as they reflect
a multi-period thing
benkay: at the end of amortization, you don't have
a thing to sell for scrap value.
davout: can you resell the box ? no, so what you bought is
a service, tracking its accounting value makes no real sense
davout: it might just be
a language problem here
mircea_popescu: davout yes it would be, at the cost of making
a more extensive account plan than "cash", "type 1" and "type 2"
mircea_popescu: the rationale behind that separation between "tangibles" and "intangibles and goodwill" was that some items have
a resale value. these are tangible.
davout: an item that has
a 0 accounting value may still have
a shitton of utility value
mircea_popescu: so i have
a special knapsack where i keep the 0 value items ?
davout: when you have amortised something, that this something reaches
a zero accounting value, that means you still own the physical thing
davout: to
a french person, leasing is like some stuff you do usually with cars where you pay
a fat premium the first month, and then rent it
mircea_popescu: that sounds
a little nutty. what's leasing in this approach ?
davout: like to me it sounds contradictory, either you rent for
a limited time, or you buy and it's yours forevar
mircea_popescu: and if you liquidate in 6 months you have
a server worth x/2
mircea_popescu: because if you liquidate today you have
a server worth x
mircea_popescu: if its after
a full period it can;'t be reported in the respective period
davout: either you account for them on
a monthly basis (which i've never seen, but this is BTC after all) or on
a yearly basis, you seem to go for the former, so my question is "why don't you start accounting for an expense of 1/12th of the server value on month #1"
mircea_popescu: then B brings 100 btc in, gets his 100 shares, and now
a 300 btc corp is divided to 200 shares
mircea_popescu: simple example :
A and B meet to make
a fishery.
A contributes 100 BTC gets 100 shares, B is going to fish, gets 100 sws at 1.
davout: anyway, i had
a question regarding the financial statements
davout: dunno, it was
a legitimate question
mircea_popescu: ok. company
A has 100 shares issued, of which managwement owns 10. company
A has 100 shares issued as sws to mnanagement
davout: is the motivation to get
a god deal on them
mircea_popescu: management holds
a shitton of warrants in the first place
davout: mircea_popescu: it doesn't have to be accounted for per-se, but the warrants list has to come with the financial statements, because as you said it is something that needs to be taken into account to get
a full picture of the company
davout: just account for it as exceptional revenue when it comes in, if it does, any loss relative to the par market price will be borne by shareholders getting diluted at
a bargain
mircea_popescu: it could be argued that
a company with issued sws is worth less than the same w/o having issued them
davout: there's zero risk for MG, the ones actually bearing
a risk are the shareholders, not MG
davout: will the shares be summoned into existence by MG or will MG buy the shares at market price and resell them to the holders of
a warrant at the agreed-upon price ?
mircea_popescu: bought at the price. having
a warrant for 1 share at 1 btc means you pay 1 btc get the share
davout: like
a stock option, right ?
mircea_popescu: technically speaking they should be in the accounts as they're
a materially different situation than simply not existing
mircea_popescu: the distinction comes fromwhether you can claim to be given THE lost sheep, or
A sheep in place of THE sheep.
mircea_popescu: in the simplest translation of common law that even
a napoleonic lout might get, they don't have tyhe right to THAT capital. just to something equivalent, as practicable.
davout: capital is
a liability to the shareholders
thestringpuller: mircea_popescu: you made me use
a credit to refresh the page
davout: thestringpuller: they all bleed
a bit the first time you know
davout: take your accounts list, add
a column, toss the capital on the right side, poof, sums to zero
mircea_popescu: davout you figure turn the present "accounts" thing into more of
a normal balance ?
mircea_popescu: it's negotiable in the following sense. you have
a game which we suppose agree took 1k btc to make. if we agree it's sensible i spend 1k btc pushing it then i expect half the revenue.
davout: mircea_popescu: i think an assets/liabilities is quite useful, i think it gives
a quite synthetic and understandable picture of the situation, it is expected by people who are used to accounting, and is easy enough to understand for anyone who has any business reading financial statements anyway
mircea_popescu: so apparently the forum has
a hole in it allowing acct hijacks
imsaguy: thestringpuller: hey assmuch, there are
a lot more games than left4dead that have zombies.
mjr_: i would "recommend" reading REAMDE, it talks
a lot about such things and I hope this becomes something like that
mjr_: if you capture
a small portion of WoW players in china it will be
a smashing success
mjr_: that is
a great strategy
mircea_popescu: thestringpuller im of
a diff philosophy. it's not my job to micromanage the player/make poaths etc.
thestringpuller: so if you use the emergence to your advantage there could be
a n00b that rises to power without depositing any money at all
mircea_popescu: it's just if you want tio have
a bottle of elven wine or w/e, well... it's gonna cost you more. deal with it or else go back to springwater
mircea_popescu: jborkl notably actually there's two of them here, one with an o one with
a 0
ThickAsThieves: i was actually just thinking
a few days ago, wondering why everyone trusts coinlenders
kakobrekla: well one can order
a hooker in
a bakery, and you will get it, but only if its
a really good bakery
kakobrekla: well i have the capacity but dunno if theres
a will
arij: kakobrekla, are you getting
a bunch of them? are you making boards or something? taking orders? :D
dub: jesus fuck somebody wants me to attend
a meeting at 9am
mircea_popescu: why does seth godin look like
a total retard/faggot these days ?
mircea_popescu: gotta bear in mind i'm unembarassable, which may be
a required feature.
dub: might be nice to holiday
a while on the body of
a hot female
Namworld: There's also
a flabbergasting lack of any kind of bid support for ASICMINER
dub: spent
a lot of time fuckign with the vci-300 and always wanted an MPC style cue pad with it
dub:
a website used to search other websites? It'll never catch on
dub: pankkake: yes but in todays climate its possibly akin to buying
a GPU farm
dub: back when difficulty was rising more predictably I would have agreed, now I feel they are
a certain loss
furuknap: I think it's quite possible to make money on them; in fact, if I hadn't gotten today's vote, I would have listed privately with
a form of guarantee. I may still, haven't decided, offer that guarantee.
dub: bitcointalk is
a true socialist community where individuals come together and share their stupidity for the greater retardation
benkay: there was
a community? i thought it was just
a small pool filled with large sharks and miscellaneous lampreys
kakobrekla: Garr255: Also see how this thread got no responses, and the one accusing me gets hundreds. Seems as though what was once
a community here, now just enjoys ripping one another apart more than anything.
FabianB_: naemsi: i guess the counterparty on mpex shouldn't be
a problem
ThickAsThieves: reports are that the next hardware release will be
a "mini blade"
ThickAsThieves: “The United States should be giving
a clear and thorough explanation to the citizens of the world regarding this issue,” Patino said.
kakobrekla: im already
a member of michael jackson fan club
pigeons: its not an exchange its
a fan club
mccartyb03: he didnt use it enough, i kept offering to take it off his hands but he never went for it. moved to the other side of the country
a few months ago