627900+ entries in 0.377s
teward: thestringpuller:
there's a lot of home-specific laws and
tax rules
that other capital gains aren't included under
mircea_popescu: <ThickAsThieves> my wife is all 'maybe
this bitcoin
thing isnt such a good idea' << if i had
to
take a bet on
the matter, it'd go like so : it has exactly zero
to do with any rationalisation she comes up with and everything
to do with how annoyingly you've changed since getting involved with
these loser geeks.
thestringpuller: asciilifeform: when
the dekulakization squad wants your usd << hence not holding usd
mircea_popescu: * xmj would love
to work for Bitcoin, btw <<< sure, but doing what.
thestringpuller: People who have owned a house for 20-30 years and it's escalated in value are not subject
to capital gains. (I know
this
to be
true because I know many people who have sold
their houses for more
than
they bought
them and have not gotten
taxed for it.
The only
tax attached
to
the
transaction is sales
tax on
the buyer).
kakobrekla: <mircea_popescu> peterl> would letting a 2-yo
type be a good random generator? << nah. < better
than 12-yo and prolly even 22.
teward: thestringpuller: differs state-to-state but you have
to look at
the 'two
tax laws' imposed, one being state, one being federal :/
mircea_popescu: <punkman> why is anyone buying at .0075 instead of waiting until after IPO? << or even having waited for a day BEFORE
the ipo ?
teward: capital gains can be done in
the long
term,
the rate is just LOWER for
the
tax. at least in
the US
teward: ehhhhhhhhhhh
that's not entirely accurate
thestringpuller: yea
the loophole is just
to hold and liquidate after
the expiration of capital gains.
teward: thestringpuller: in
theory you're paying four
taxes on
that BTC income, state and federal income, and
then capital gains for both
teward: thestringpuller: if we want
to be
truly logical about analyzing
this situation...
then lets look at state
taxes as well
mircea_popescu: peterl> would letting a 2-yo
type be a good random generator? << nah.
thestringpuller: additionally as property if you own said property for X amount of
time (i don't know
the exact figure in
this state), you get
the capital gains waived.
teward: thestringpuller:
that's a gray area
that you could argue in
the
tax courts, but you're right. if you don't liquidate
the BTC and hold
the BTC for over one fiscal year
then
those bitcoins are only subject
to
the capital gains
tax as well as
the income
tax IF
the liquidation occurs during
that fiscal year. At any later date after
the BTC has been held for a year it should be
the case
that it's
THEN capital gains
taxed.
thestringpuller: yes but
that's not included if say you pay me X BTC
to mow your lawn all year and I don't convert BTC
to fiat
ThickAsThieves: when you convert
to fiat, if
there's gain,
there's
tax due, if not,
then not
thestringpuller: teward: yea if you own
the property for X amount of
time
the capital gains
taxes are waived.
This is a loophole for homeowners, btc falls under
the same statutes. But you still have
to pay income
tax on income from BTC. I.e. i get paid in BTC as part of some employment contract.
The receipt of
those coins needs
to be claimed with
the IRS and
then you gotta pay whatever during income
tax.
rithm: i like
to make money disappear
mircea_popescu: <asciilifeform> vinyl record wallet << good art project, <<
tis
the art project
that caught my eye
mircea_popescu: <ThickAsThieves> "VC's will write $10M checks after 3 weeks of knowing someone, and
there is 0% legit fraud
there." << what's ilegit fraud ? fraudy-fraud ?
assbot: A complete
theory of sociology pe
Trilema - Un blog de Mircea Popescu.
ThickAsThieves: are
the people
that paid you in bitcoin issuing a 1099?
teward: at least in
the USA, we get
taxed
that as part of our income
tax, but depending on
the length of
the ownership of
the item which gets you capital gains,
there's different
tax rates
teward: thestringpuller: isnt
that on
the sale of capital? i.e. capital gains at
the
time of sale.
ThickAsThieves: i'm like, you now i'll have
to pay
taxes on
those
too right?
ThickAsThieves: best part is, she wants me
to sell more bitcoins
to pay
the
taxes
mats_cd03: why don't you just convert it
to cash
xmj would love
to work for Bitcoin, btw
thestringpuller: my accountant was like "If you want fiat you're gonna get double
taxed since some of
this btc was earned
through working"
ThickAsThieves: I attempted
to explain
that all income is
taxed and most at
that rate
ThickAsThieves: my wife is all 'maybe
this bitcoin
thing isnt such a good idea' because we have
to pay cap gains
tax
nubbins`: "Regardless of whether securities in
the offering have been or may be sold
to persons who do not qualify as accredited investors, enter
the
total number of investors who already have invested in
the offering: 1"
ThickAsThieves: sounds right, from what i recall about how havelock wanted
to do
thinks
nubbins`: i guess for
these purposes havelock would be
the "investor"
nubbins`: here's
their SEC filing for
this IPO
punkman: Mrstickball: are
the old ones not equity-bearing?
Mrstickball: they are unsold shares from his last
tranche of shares
gribble: Error:
This url is not on
the whitelist.
kakobrekla: >PawSense normally recognizes a cat on
the keyboard within one or
two pawsteps
nubbins`: "CAT-LIKE
TYPING DETECTED" appears on-screen and one must
type "human"
to unlock
nubbins`: i
think it's essentially just looking for long keypresses, indicating something heavy is on
the kb
nubbins`: we successfully engaged it by pressing a spread palm on
the keyboard
nubbins`: pascale had one of
those extensions on her mac
kakobrekla: change
the animal, need
to change code.
peterl: would letting a 2-yo
type be a good random generator?
peterl: ack, my kid is attacking
the keyboard :(
kakobrekla is curious what
the audio quality would be from
that particular unit
assbot: How Financial Bubbles Fester And Burst—Even As
The Fed Says Not
To Worry | David Stockman's Contra Corner
kakobrekla: well i wonder which one of
those is it
assbot: Logged on 03-03-2014 05:44:01; asciilifeform: benkay: remember
that steganography, unlike cryptography, cannot be simultaneously strong and standardized.
gernika: petrel yes - everyone could update
their constant manually. But
that's only a
temporary fix.
peterl: isn't it open source, can't people go into
the code and change
the hard codings?
gernika: Unfortunately
the POW cutoff level appears
to be a constant.
gernika: To
the point where people aren't getting messages
peterl: isn't it supposed
to ignore low POW messages?
peterl: gotta love all
those bezzle dollars
ThickAsThieves: "VC's will write $10M checks after 3 weeks of knowing someone, and
there is 0% legit fraud
there."
ThickAsThieves: lol
the guys says WoT is a scam,
then explains how
to use a WoT
thestringpuller: 17:20 <qq1932>
That is how people protect
themsevles in
the real world, and it works. VC's will write $10M checks after 3 weeks of knowing someone, and
there is 0% legit fraud
there. << ~_~
ThickAsThieves: interesting phenomenon with AM shares, now
that
they dont pay divs, no one can verify ownerships