961300+ entries in 0.643s
Eduard_Munteanu: Not particularly hit by
the crisis, but my
trades weren't exactly great.
Eduard_Munteanu: Let's just say I might break even on gold after losing quite a bit of money on
the stock market.
ThickAsThieves: so what does a government do
to get
the
tax
they need?
mircea_popescu: but
that notwithstanding, btc and btc stocks have nothing
to do with fiat rules and fiat definitions.
mircea_popescu: i have no idea, haven't followed
that since
the late 90s
ThickAsThieves: i do wish US
taxes were simpler and closer
to a flat
tax
Eduard_Munteanu: For example, here
they
tax *every* profitable
transaction by 16%. Not at
the end of
the year, or
the month, but as soon as it happens.
ThickAsThieves: whatever
thing you buy was probably paid
to make with fiat
Eduard_Munteanu: Possibly. For instance buying/selling securities may be subject
to different
tax rules.
ThickAsThieves: okay, so about
the system and
taxes, doesnt spending bitcoin on bitcoin offerings still break
things
gribble: BTCUSD
ticker | Best bid: 31.02001, Best ask: 31.20000, Bid-ask spread: 0.17999, Last
trade: 31.20000, 24 hour volume: 42934.16522334, 24 hour low: 30.11710, 24 hour high: 31.69900, 24 hour vwap: 31.03445
mircea_popescu: so
they end up "investing" in whatever, btcjam and miner bonds
mircea_popescu: the entire
tax system is
there
to help. hire good fiscal representation and use it.
mircea_popescu: dudes, srsly. you're
thinking like poor hicks in arkansas or some shit.
Eduard_Munteanu: Well sure, now you don't expect a company owner
to admit, no? Hypothetically, of course. :)
Bowjob: that XRP giveaway,
they sent me 50k
twice
mircea_popescu: Eduard_Munteanu ya well,
that has little
to do with btc. you can use goats or salt
to commit fraud.
Eduard_Munteanu: mircea_popescu: say a company wants
to employ a sizeable portion of its workers under
the
table,
that's
the sort of scenario I have in mind
mircea_popescu: that's
the definition. unable
to pay exigible demands => bankrupt.
Eduard_Munteanu: mircea_popescu: AFAIK it's a pain
to justify
taking money out of your accounts
mircea_popescu: you can make a company
to warm
the atmosphere if you please.
DeadWeasel: get it out of
the country
then handle it
Eduard_Munteanu: mircea_popescu: I wonder if BTC is a good way
to get money *out* of
the company's accounts
mircea_popescu: ThickAsThieves you wouldn't call it anything. when power bill comes you just pay it and
that's
that.
mircea_popescu: apparently wow is not ok but some cs-thing is or something like
that. he had a list.
mircea_popescu: i know some guy
that charged all his game subscription
to company
Eduard_Munteanu: Actually yeah, you probably can't, not
to mention you need receipts and such.
mircea_popescu: if
the extra 5 pays electricity for a rig
that makes no difference in
this equation.
mircea_popescu: if next year company A spends 55, makes
the same 70, it pays
tax on
the 15 only
mircea_popescu: ThickAsThieves company A spends 50, makes 70, pays
tax on
the 20.
mircea_popescu: ThickAsThieves
the fiat you spend
to pay for fixed costs is a deduction.
Eduard_Munteanu: Initially it seemed like a good deal, I probably would've bought a ~ $1500 miner. I'm interested
to see how much
they manage
to get out of it.
Eduard_Munteanu: Did you get a miner btw? I'm a bit sorry I'm late
to
the party. :(
mircea_popescu: there's also
the fiscal consideration. spend fiat, it counts as a deduction.
mircea_popescu: this lesson has not been lost on anyone i've
talked
to.
mircea_popescu: the miners
that saved
their mined btc made a killing
this year, for instance
Eduard_Munteanu: mircea_popescu: I still
think we might see people cashing in USD, perhaps ASIC manufacturers for
their day-to-day operations.
mircea_popescu: and
they should be
thankful for anything
they get. it's early yet.
mircea_popescu: this simply means people wanting in will have
to pay more.
mircea_popescu: think about it. everyone
that wanted
to sell at 30 could have.
there's no pressure
tho.
DeadWeasel: but you have decided
that
the floor is now 30?
mircea_popescu: well... it's going
to crash, but later on, and it won't crash as low as 30, so...
mircea_popescu: it's kinda funny
to me
tho, all
the smartasses
that were explaining how bitcoin is no good feel a little left out now
kakobrekla: its really gonna be now at some point of
time.
gribble: BTCUSD
ticker | Best bid: 31.08556, Best ask: 31.12000, Bid-ask spread: 0.03444, Last
trade: 31.12000, 24 hour volume: 42956.19105260, 24 hour low: 30.11710, 24 hour high: 31.69900, 24 hour vwap: 31.01976
mircea_popescu: how long
till people start coming
to
their senses ? "i am not
the police and i do not do
the job of
the police. do your motherfucking jobs!"
mircea_popescu: it is not nor can it be
the business of a solicitor
to inquire as
to where money comes from for fucks sake.
jurov: some do but not many, i feared with prices i'm offering i'll have
to
think hard about collateral requirement
jurov: resonably,
true believers should buy difficulty futures
mircea_popescu: reasonably, a
third party with 500 btc
to ride on "bfl delivers" would have spent it
to pre-order rather
than
to bet
mircea_popescu: well,
the bet popped,
then it was discussed on
the forum
then
the bet showed up. who knows, maybe it's some other
true believer.
Bowjob: josh said he didnt put money on
the bet
mircea_popescu: so
two days into
the new month mpoe saw like 20k volume
mircea_popescu: Ukto as best we can determine bfl bet 500 btc
they'll deliver by march 1st
dub: bfl have said a great number of
things