891600+ entries in 0.623s
Diablo-D3: if you buy 1 BTC at $20, and
then
trade it for a $30 gift card, you STILL owe
taxes on
the $10 difference.
Diablo-D3: you still need
to pay because you bartered
Diablo-D3: which means
the seller must convert BTC
to USD
to do so
Diablo-D3: and dont give me
that "well
the internet" bullshit either, amazon is going
to get
their nuts
trapped in a door jam soon enough
jurov: you'll
take
them
to court "butbutbut it has no usd value"
they'll say "how many bitcoins do you pay your lawyer, again?"
Diablo-D3: its not your problem as much as
the seller
Diablo-D3: they also cover everything from wow gold
to real non-monetary gold
jurov: thus, it is subject
to barter
jurov: ThickAsThieves:
they do recognize it as
tokens of value
Diablo-D3: the IRS nor
the US Gov recognizes Bitcoin
Diablo-D3: ThickAsThieves: bartering does exist in
the IRS
tax code
Diablo-D3: ThickAsThieves: and you may also still owe
taxes
Diablo-D3: the guy you bought shit from with
the btc? owes
taxes.
jurov: what if you buy a house for bitcoins
that you mined in 2011 ? no
taxes either?
Diablo-D3: buy physical gold and never sell
them? no
taxes owed.
Diablo-D3: buy stocks and never sell
them? no
taxes owed.
Diablo-D3: soon as
they become USD in any form, you owe
taxes
Diablo-D3: theres no
taxes
to be paid on
that
Diablo-D3: or $10
to $30, you owe on
that $30
Diablo-D3: lets say you buy btc at $10
then sell at $20
Diablo-D3: the btc had
to come from somewhere
Diablo-D3: theres no such
thing
ThickAsThieves
Diablo-D3: trading from usd
to btc back
to usd?
Diablo-D3: ThickAsThieves: how did you get
the btc?
jurov: what about
the sale of
the shirt
then?
Diablo-D3: you pay
the
tax when you sell
the btc
jurov: don't worry,
they'll make
the jump for you ;)
jurov: Cue: "Bill is a Bitcoin miner. He successfully mines 25 Bitcoins. Bill may have earned
taxable income from his mining activities."
jurov: *to store ->
to capture , i mean
jurov: and i wouldn't put it past
them
to ask NSA
to store btc
transactions and where
they originated from
jurov: "exchanging
tokens of value"
jurov: no.
they salivate on prospect
to
tax pure btc
transactions
jurov: but IRS already said it's gonna be
taxed
jurov: in any case, i can agree with
the premise
that
trying
to operate btc business from US needs indeed a state of denial
ThickAsThieves: i'm not sure how much info he is sharing publically so you'll need
to pm him for more details
jurov: who actually
touches $$
jurov: yes it struck me as "it will be okay, just bow deeper". but i'd like
to know opinion of someone like ukto
ThickAsThieves: "my advice for
them would be –as
the first step–
to recognize and acknowledge
the regulatory challenges
they face. Also, don’t forget
to join
the NMTA, and enroll for some of our compliance
training courses!"
jurov: what do you
think?
assbot: [HAVELOCK] [ASICM] [PAID] 42.19795224 BTC
to 245`394 shares, 17196 satoshi per share
peterl: Does -PR go into
the newbie section?
jcpham: in
the newbie jail no less
jcpham: opportunity for -PR
to shine
Diablo-D3: why are
they selling before
the div was paid out?
TradeFortress: Wouldn't it be funny if ASICMINER share prices followed btcusd/100? It'll go down all
the way
to 0.7 BTC per share :P
TradeFortress: I wonder if we are going
to come back
to 2.5 btc..
jcpham: or headed in
that direction as
the diff skyrockets
jcpham: now it's aprobably a regular mining
turd
jcpham: i'm not sure
they do anymore
jcpham: how about
that difficulty!
jcpham: mining revenue
this week: 0.0148758 /share
ThickAsThieves: but
then
the voting rights details were removed from
the asset description
ThickAsThieves: this means you have zero ability
tobe a Hero unless you've been active for 1 year
deadweasel: do you understand
the actual calculatin min(time*14, posts)? I don't. help.
deadweasel: what is
this calc? min(time*14, posts)