The world at large is still absolutely clueless about Bitcoin. We can say that the general awareness was only really reached last month. The previous bubbles generated publicity, which faded away. Now it is not fading away, it is gaining grassroots adoption, and I believe that by trickling the knowledge that I and others generate, to the masses, the party can go on and on. It is possible that 2014 will be the year of Bitcoin. Yes, I am aware that 2013 already saw 100x gains  I do appreciate your writings and thoughts Mr. Rpietila, they are very influential in helping me realize the future power potential of Bitcoin and what that responsibility entails Perhaps next year will also see the rise of the Supernode. |
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One question to consider is which countries will allow you to stay indefinitely as a non-citizen without a job. Unless you're willing to frequently return to the states, that might limit your options somewhat.
Considering this, I could see myself as a world traveller. Stay in a country as long as you can, then move somewhere more fun and do it all again. Maybe only for like a year or three, but I'd like to do this  life is too short for any one place |
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I should note you should not hesitate to take your profits and clear your loan
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It is rationally in JR's self interest as a 30% stakeholder to raise the value of his 30% of the system, not make decisions that might tank it.
You're disregarding an obvious point: JR might think that something will raise the value of MSC that others don't agree with. For example, JR has consistently encouraged us to buy 5000 BTC worth of MSC with our funds, which there has been much disagreement over. If, in a proof-of-stake voting system, JR decided, in contradiction to what he had previously said, to exercise his right to vote, he could certainly tip the vote in his favor. This isn't fear-mongering, it's a real concern. I am not saying that JR should or shouldn't exercise his voting rights. My point is that JR should be *bound to his word*; it is important that he not just be able to change his mind on a case-by-case basis. then we will reconsider if the decision was suboptimal or not, fix anything if necessary, then vote again. The only thing JR would be able to do is turn down a proposal. You're not addressing the point. Within Mastercoin, JR should be held to his word about whether he will vote. There should be no ambiguity here. Your responses are obviously dismissive. My apologies. It is of my personal belief that people are allowed to change their minds pending better thoughts. There is a political cartoon somewhere comparing a businessman who changes his mind and a politician who changes his mind on a generic issue. I can't find it, but in it, the businessman who changes his mind is lauded as adaptive and rational whereas the politician who changes his mind is negatively seen as a flip flopper even if the decision is for the better. But like I said, this is not something I can speak on behalf of JR for, but it is of my conviction that JR would better serve Mastercoin participating with the process than not (yes I know, I know, JR has been MIA this week). |
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Dacoinminister does deserve those mastercoins as he created the white paper and started this project. He bought them fair and square like everyone else, and the reason he had an 'unfair advantage' is because he created the project. So thats where the 'unfair advantage due to risk' is cancelled out. However we do need someone like Robby involved, as controversial as he might be, he can add alot to the future success of mastercoin. Everyone's entitled to their own opinion, that may be his opinion, however i get the impression Robby does want mastercoin succeed as much as we all do. I personally think JR should contribute some of his holdings towards mastercoin. Thats not to say he doesn't deserve him, as he entirely does, it is to say that he should contribute a portion of his mastercoin towards the mastercoin project so his remaining holdings is worth more, which makes sense. This would only be due to the fact he has such a large stake in mastercoin that he should drive it with his own holdings more than anyone else. But of course JR willet is free to do what he likes. I hope Robby does come on board, i think he has the right attitude.
The bonus MSCs were meant to *attract and incentivize* early investors, and to that extent it seems a little bizarre that JR would give himself this same bonus, since presumably as the creator of Mastercoin he didn't need incentives... Anyway, you actually have not addressed the question of "unfair advantage due to risk" yet; JR was sending himself Bitcoins, whereas everyone else was sending Bitcoins to somebody who weren't themselves. Obviously everyone else faced greater risk than JR... I don't think it's a question of whether someone "deserves" or doesn't deserve his 50k MSC bonus. I think that JR objectively owns too many Mastercoins (which I haven't heard anyone disagree with yet - except for JR), and so now it's a question of damage control. Robby's proposal provides a way for JR to cede some of his Mastercoins that benefits the community at large. Also, I would like to reiterate Robby's "beanie baby" point: JR's unwillingness to cede *some* of his Mastercoins in order to help the project may make *all* of his (and everyone else's!) Mastercoins worthless. It is up to the community to decide whether it thinks this is reasonable. Regardless of what people think of killerstorm personally, I think that a comparison between his commitment to Colored coins and JR's commitment to Mastercoin is apt. killerstorm is making no money from Colored coins, and is using his own funds to support the project, as well as contributing to the project itself. JR on the other hand has thus far about $20 million from MSC, does not contribute to the project, and has stated that he will sell 1% of his Bitcoins when his personal MSC holdings are valued at about $450 million (assuming it's 1,000USD/BTC, when it's .7 BTC/MSC, which in my opinion is conservative). At the same time, we in Exodus were all free to agree to these terms. Personally I don't mind that JR gets rewarded as such for obsessing two years on his brainchild. |
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thanks vokain. one more question, for buying mastercoin all you need is a bitcoin address to have them sent to right? only a bitcoin address from a wallet whose private key only you control. still, coin sending is barely supported at the moment. instructions included here: https://bitcointalk.org/index.php?topic=287145.0still very experimental and I am sorry to say that this is all done on your own risk. I understand this sounds scary but at this point in time you must tread cautiously. |
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It is rationally in JR's self interest as a 30% stakeholder to raise the value of his 30% of the system, not make decisions that might tank it.
You're disregarding an obvious point: JR might think that something will raise the value of MSC that others don't agree with. For example, JR has consistently encouraged us to buy 5000 BTC worth of MSC with our funds, which there has been much disagreement over. If, in a proof-of-stake voting system, JR decided, in contradiction to what he had previously said, to exercise his right to vote, he could certainly tip the vote in his favor. This isn't fear-mongering, it's a real concern. I am not saying that JR should or shouldn't exercise his voting rights. My point is that JR should be *bound to his word*; it is important that he not just be able to change his mind on a case-by-case basis. then we will reconsider if the decision was suboptimal or not, fix anything if necessary, then vote again. The only thing JR would be able to do is turn down a proposal. |
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It seems you got the wrong idea of what I wrote. I do not think in the least that JR should give me MSC. What I meant by that was that JR should consider contributing some of his bonus to others in the project in a controlled/merit-based fashion (i.e. performance plans, bounties met, etc) to preserve the value of his own MSC, especially if his own continued involvement will stay minimal.
It is possible JR believes that under a proof-of-stake system (when/if implemented), preserving his veto power that such a position affords someone will do better to serve the value of all MSCs versus selling at a price he does not like. Just a thought. Unless I am mistaken, JR publicly said that he would not exercise his right to vote in a proof-of-stake system. Unless this is in some sense binding, I not only don't think it's is valuable but think it can actually hurt Mastercoin; if JR can just informally change his mind and vote one day, then, with his overwhelming holdings, he could almost single-handedly change the outcome of a vote. EDIT: The expectation that JR won't vote also will be priced-in to the valuation of Mastercoin, and if he disrupts this expectation, he could tank the price (or raise it, I suppose, but unless there were a vote regarding something which he and the majority of the community disagreed, there would be no reason to exercise it). EDIT 2: It's a little strange that people tout Mastercoin's decentralized nature, and are worried about "some company" taking over the project (when of course that is hardly what Robby's proposal is suggesting), yet very few people have publicly stated concern over one person owning 30% of the currency. By the way, has ripper heard about what's been proposed? Where is he? It is rationally in JR's self interest as a 30% stakeholder to raise the value of his 30% of the system, not make decisions that might tank it. I can't say much about the veto thing at the moment because this is something a wee bit down the road and the best decision is not clear at the moment. To me at this point in time, it would make sense if JR kept his veto power. In regards to Robby's proposal, we are engaging in talks this week about how we can best work together. Because these talks have not happened yet, we have not announced anything because that is obviously irresponsible. That is all I can say. It may or may not happen. Please, patience. It's a weekend. |
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In my studies and practical experience, SSRIs leave you in even more of a mess
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I also realized that Silvervault's net capital is now 90% BTC, 10% circulated silver.
All the other previously silver companies of mine, same thing.
Congratulations, I'm hoping your Bitcoin have grown in value. My Bitcoin portion has radically distorted previous allocation ratios. and despite the volatility it feels more secure. that's because the volatility is kind of biased towards one side the up side |
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If in the US, plan on giving half of the profit to the government. So to keep that $15 mil, you will need to make 30 mil. Unless of course you just spend your coins or attempt to avoid taxes.
Let's see. Keep it for a year. Quit my job. Make less than $70,000 (joint) in a year. Pay that 0% tax rate. Whew, those taxes are brutal...  Here is the bracket for 2013: January 1, 2013 - Hold 1 Year or More 10% tax rate = 0% capital gains tax rate 15% tax rate = 0% capital gains tax rate 25% tax rate = 15% capital gains tax rate 28% tax rate = 15% capital gains tax rate 33% tax rate = 15% capital gains tax rate 35% tax rate = 18.8% capital gains tax rate 39.6% tax rate = 23.8% capital gains tax rate Note: Obama is trying to change this for 2014 but they didn't get it done in time for 2013, so keep that in mind. Here are the current Adjusted Gross Incomes for these brackets: 2013 Tax Brackets (For taxes due April 15, 2014) Tax rate Single filers Married filing jointly or qualifying widow/widower Married filing separately Head of household 10% Up to $8,925 Up to $17,850 Up to $8,925 Up to $12,750 15% $8,926 - $36,250 $17,851 - $72,500 $8,926- $36,250 $12,751 - $48,600 25% $36,251 - $87,850 $72,501 - $146,400 $36,251 - $73,200 $48,601 - $125,450 28% $87,851 - $183,250 $146,401 - $223,050 $73,201 - $111,525 $125,451 - $203,150 33% $183,251 - $398,350 $223,051 - $398,350 $111,526 - $199,175 $203,151 - $398,350 35% $398,351 - $400,000 $398,351 - $450,000 $199,176 - $225,000 $398,351 - $425,000 39.6% $400,001 or more $450,001 or more $225,001 or more $425,001 or more Long term capital gains (held more than 1 year) do not count toward AGI. Short term (held less than 1 year) do. Also, get a house payment (interest) and some kids to offset your AGI. Also, donate to your favorite charity instead of the goverment if you like them better to get into a lower bracket. God bless you for bringing this to my attention |
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It seems you got the wrong idea of what I wrote. I do not think in the least that JR should give me MSC. What I meant by that was that JR should consider contributing some of his bonus to others in the project in a controlled/merit-based fashion (i.e. performance plans, bounties met, etc) to preserve the value of his own MSC, especially if his own continued involvement will stay minimal.
It is possible JR believes that under a proof-of-stake system (when/if implemented), preserving his veto power that such a position affords someone will do better to serve the value of all MSCs versus selling at a price he does not like. Just a thought. |
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lets get robby on board,
I've asked the board twice today. Time please. |
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vokain and djohnston:
Thank you for your engagement. Regarding JR: Do you really think it's acceptable that a board member is not active on the forum *at least* 2 out of 7 days of the week? Please answer this question directly.
Not EVERY week, but this week is a big family week in the US. Edit: wow, week is such a weird word |
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Please please give us time, even if it is less than ideal to do so. We are reorganizing and reaffirming responsibilities with the newly hired professional help as you guys have pointed out.
Mastercoin needs its community. This will work out. Every single one of you taking part in this, you're all vital.
You seem to be glazing over the fact that whatever recent hiring that Ron and the rest of the board have done has not been discussed on this forum, and to that extent lacks transparency. Is there a place where all of this is well documented? In any case, it should certainly be posted on this thread as well! How do you reconcile the community being vital with its lack of involvement in the hiring process? David was placed in charge by Ron for the hiring process of the smart property lead. candidates were selected from those 7-8 guys that have took the initiative to reach out to us from the smart property lead callout thread. David then interviewed them, gave us his recs, and we voted for his best one. I'll let David fill in the details. Dominik (prophetx) has been with us since the beginning and he has considerable value to us, so he was hired upon his proposal which we voted in approval of. He can speak for himself if he'd like. Peter Todd, yes, this was rather in the dark but I think he preferred it this way (no announcements or fanfare). His job description is quite unique however. Ron can fill us in on this. |
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Hang on, please give us some time to collect our thoughts so we decide the best decisions together. I know I have been. Robby and Alex (killerstorm), I want to apologize for any seeming inattention or hesitation on our part. The exchange of ideas in truth it has been somewhat one-sided as you guys reach out to us and we spend time mulling over it among the literal hundreds of other messages we get on the mailing lists in addition to it being a holiday week. Please please give us time, even if it is less than ideal to do so. We are reorganizing and reaffirming responsibilities with the newly hired professional help as you guys have pointed out. An important point is that not all discussion of decision making is done here, for better or for worse... I hope that this won't be blown out of proportion in the mean time and I truly thank you all the time effort and concern the community has for this undertaking.
Mastercoin needs its community. This will work out. We're all learning here and being more receptive is at the top of the list. Every single one of you taking part in this, you're all vital.
PS: personally I'd like to see Robby as one of the lead developers if it's not too late. I will await Taariq's and Robby's discourse of course.
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oh thats so weak and sad  Set a limit price at where the profit pays off your loan. When you wake up you can claim the rest as BTC |
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great paradox of Bitcoin:
When it is time to cash out, we won't have to cash out anymore
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