ok the china deadline is tomorrow
why is the market not reacting?
Tomorrow? It was the Chinese New Year, not? So, the deadline should be the 30.1.14. Yup, it was Chinese new year, so we still have another month to go. oh the deadline it on the 30th of next month. shit i thought it was tomorrow There is a different deadline tomorrow: Swiss Banking and USA Foreign Account Disclosure Compliance and taxation. Swiss banks have a deadline of tomorrow to sign up for compliance. Some are doing so: http://www.reuters.com/article/2013/12/27/us-tax-switzerland-lombardodier-idUSBRE9BQ03T20131227Everyone I know pays their taxes, and usually end up overpaying to be conservative... But I imagine there might be some folks in the USA that have used Swiss accounts to hide money. They might want to do something else with that money.  |
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lol I don't have anything against public nudity but I would think twice about talking to people who are into it or taking part in it, I'm just not into exhibitionism  Lol, talking with them probably isn't your concern there, unlikely to have a language in common with those folks. Their culture has not yet had much use for clothing. I doubt it is considered exhibitionism to them, clothing just isn't something they have got around to yet in their hierarchy of needs. |
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The idea of a school is a good one.
It is something that could be attached to the conferences that are regularly scheduled all over the planet.
The folks that can teach are certainly there. The facility is there. It may make sense to do classes as an addition to those.
Another great idea in this thread. Maybe this platform (or one like it) could be leveraged ( https://www.hackerrank.com/ ) to support a Bitcoin challenge track? Something that is a series of "courses" which starts with the basic like installing bitcoind, moving the data directory, configuring config file, etc. Higher level courses could cover RPC calls, pywallet, creating watching only wallets. Highest level courses could cover raw transactions, message internals, modifying the source code, etc. So many ideas and so few people to do the meaningful and necessary things, this one... education for the motivated, is on the critical path. Passion * Capability * Opportunity = success, we are short on the capabilities and long on the other ingredients. This problem is not going away, and is going to get worse, so it is an opportunity worthy of some investment. |
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Wow, thanks! but that is WAY over my head. I'd better go watch the Khan Academy videos. . .
People will come up with pretty tools to make it easier as we go. But for now, the guts are certainly here and do work. This really can be done by hand though, if you have an urgent need to do it. Decoding a transaction in hex by hand is pretty easy. Just follow the docs and remember that each byte is 2 chars, and that you are counting in hex (in my example below, the pkscript length 19 is in hex and means 16+9=25). And double check everything before you send anything.
01000000 - version
01 - vin count
2084ba9f2f0f98bb - prevout hash
1cf0320ee1c486b5
9b6b79e243de7596
d3e44fa087b597aa
01000000 - prevout index
00 - signature script length
ffffffff - sequence
01 - vout count
00e1f50500000000 - value
19 - pkscript length
76a91428f60d621b - pkscript
5d07b9c2820c11cc
c6d41146b53a3e88
ac
00000000 - locktime
One of the problems someone at my skill level has is not exactly knowing what environment I need to be in to even begin to understand what you're going for. This is n00b, but can you recommend a resource? Competence is there, I just haven't really turned the corner on being able to look up what I need when I need it - so that I can manipulate things the way the heroes do. I've been nagging at the idea for a bitcoin school. I would pay for it. I'm 2 years too late to the party and I want to chill with the cool kids so bad. I'd pay in bitcoin for challenges you guys could write and just moderate passively. The idea of a school is a good one. It is something that could be attached to the conferences that are regularly scheduled all over the planet. The folks that can teach are certainly there. The facility is there. It may make sense to do classes as an addition to those. |
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Anyone know a real life accountant who will take BTC tax cases? I do not think I owe taxes but I want to check. I'm very willing to pay fees.
Thanks.
You're probably right, especially with that new company car on the expense sheet. There have been a few US accountants posting in the forums that take BTC but have not worked with any here yet. |
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That would be a different coin.
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* As far as I know, there is no easy way to do this step. If people are serious about doing this, I'll see about adding a getpublickey RPC command.
There are so very many reasons for this, beyond just this application. |
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I'm glad to see opportunities like this cropping up.
Bottled up subconscious humor. |
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You can set a lock time, but it isn't as cool as you'd like.
The network won't remember your locked transaction for you, so you have to give them the raw transaction to be broadcast in the future. Oh, and unless you delete the keys, you can always double spend it away during the lock time.
Could you elaborate? What would it take to implement this, so that it makes sense? I thought at least basic scripts are working (although I haven't seen them used). I think a locktime would be the first basic smart contract. This is not entirely accurate then: https://en.bitcoin.it/wiki/Contracts, in terms of how much has been implemented. This is something we have been working at also within the Bitcoin specie project. A sort of nlock_time+BIP38 certificate for gifting / point-of-sale transactions. It could also function as a sort of savings bond or bearer bond. We are looking at having something ready early in 2014, but no formal announcements are made yet. |
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We have a lot of the "silliest" answers here, from people who have no datacenter or AC experience. You put up a bounty, you get stupid spammers and beggars.
Inside a closed air conditioned building, evaporative cooling may enhance efficiency a bit. AC removes humidity, to the point where the IDUs need to pump water out. You could add some humidity back to pre-cool the hot AC intake air (you can't humidify cold air AC output). The humidity would have to be strictly monitored to not go overboard or add more humidity than the AC can remove.
+1 You should pass some of the bounty to DC for being so accurate and on point. If you are doing raised flooring, you will have moisture sensors under the floor (spills, leaks, plumbing, flooding), you may also want air humidity alarming if you are using swamp cooling as part of your mix. Design for what happens when things go wrong, not just for how you want it to work. |
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how does one redeem your bitcoins if your website for whatever reason goes down?
how am i supposed to get the btc out of my coins if your site goes down or you go out of business?
You can select "private key" version if you can trust they destroy the private key after they fund your coin once you receive it in the mail. Technically there's no way for one to know if indeed they destroy the private keys. Again - trust bip 38 solves this Whats bip38 It lets someone create a private key for you that only you can decrypt Sort of solves it. It makes for a second factor, which is helpful. Forward transfer-ability is yet another matter. To make that as simple and durable as current money is another issue. |
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Bob, I look at it a little different... Take this example.
Imagine there is a company that makes frozen banana machines. I purchase a banana machine and produce my own frozen bananas. I then find a group of people who are willing to accept payment for my goods in frozen bananas. Im no tax expert, but it seems to me that the IRS has no control over my frozen bananas in this barter system and only when it changes to fiat and I start selling them, then I pay sales tax/business taxes. Now even if I do decide to sell them, seems i should only pay sales taxes/biz taxes. I dont see where a capital gains tax comes into play here. Even if i produced TONS off banans when the price was lower.. Or if the great banana shortage of the 30s comes back and they skyrocket. Its still a banana, not fiat...
Is this an incorrect assumption?
It is an incorrect assumption of how the IRS will treat such a frozen banana maker. There is nothing magical about converting to fiat triggering tax, any soft of conversion can work similarly. Bitcoin is a pretty good unit of account in its own right. Take your cost of production, and the value at which they are converted to something else (and as proudhon reminds us, the interval between the dates, for LTCG) and do the math. Including all your costs of production for some people they will have losses as a miner depending on their depreciation rate for equip. Then there are wash-sale rules, and mark-to-market opportunities... there is a lot of money to be made in writing or adapting software to read your block chain inputs, pulling exchange data, and making tools for automating this. |
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Well what im wondering is if you just only mine, never put $$ into it, it doesnt seem you would ever have to pay capital gains? From what I understand, capital gains are only if you purchased the product.. What do you guys think? Seeing as I didnt "invest" but rather "produced" the product?
Talk to a real accountant/lawyer. But it seems likely to me that the cost basis would be the price at the time the block was mined / share paid out. Cost basis would be your cost to produce. |
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Right, now European Americans are much further along on their path to being a minority. By 2043, they are projected be less than 50% of the population using the latest census data: http://www.globalpost.com/dispatch/news/regions/americas/united-states/121212/whites-be-minority-america-2043-censusThe fertility rate increases are all coming from African and Latino Americans. Now, I'm not sure I can agree with the claim that this will cause the US to fall, but Ibian is right about immigration leading to a mass demographic shift that will dramatically alter the current power structure. So what? Americans are from everywhere. Skin, eye, and hair color don't make as much a difference in the US as most folks think. |
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Just some acknowledgement from these people showing that they're somewhat self-aware, like "Yeah, I know it was pretty douchey of me, but I was just really excited about the concept when I released that paper. I'm kind of embarrassed about that now."
Do you really give that much of a shit about the title of the paper? His HYPE-meter went off, and he was kind enough to share that information. |
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China (huobi) leading the price movements is not a good indicator. Either it could be fake, or it could be real and then the chinese government can shut it down. Neither would be good news. I would have much preferred to see a recovery without China.
Yeah and I would have much preferred a recovery back in June/July without MtGox and its withdrawal problems, but ironically it was exactly that which gave the market the momentum it needed to get out of the bear market after April. We just have to deal with these things, and at some point China will become irrelevant like the MtGox problems became irrelevant. We'll it's not a definite fact that mtgox's withdrawal problems were really what was driving the market in June. That may have just been a convenient conspiracy theory to serve as a cover up while what was really driving the price was bulls accumulating coins and deals being struck with offline investors like SecondMarket etc. Also, the China situation is not the same as the Mtgox situation. It is not simply a fiat withdrawal problem, but also a fiat deposit problem, and eventually a btc deposit/withdraw problem and a trading problem. It is a problem with their government. If their government acts again, it is likely to cause another panic. Could be, but still people were afraid to sell their coins on MtGox and there was a huge shortage of supply on the ask side there. Other exchanges were too small and insignificant back then to provide a balancing counterweight. So I think it definitely helped to build the bullish momentum. The situation with China is not that different I think. Yes their government could act again and I'm sure it will cause some more panic, but we simply don't know what's going to happen and while this is going on the market is adapting and slowly but surely the situation in China will become less and less relevant and other things will become more important to watch. "China" There is selling pressure in China due to regulatory issues. However, it is easy to get money in to China and BTC out, so any sinosell pressure ends up on all the other exchanges. This is currently the prevalent pressure on pricing. As January deadlines draw nearer, this effect can be expected to ease, and even reverse. (Those leaving the China market due to regulatory issues will have left, and the remainder will be the "strong hands" there. Folks elsewhere who are on the sidelines waiting for this effect to play out will come in.) Bad news can only get so bad before it becomes ineffectual so "government acts again, it is likely to cause another panic." Probably not unless they start tracking and imprisoning folks for using BTC. |
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in any event it may be an action some entity might want to take......
Take what action? Using a free speech defense is not going to force the US government to do anything in particular in response. It will not force a definition of currency, nor would such a definition by the supreme court cause the result you are contemplating (AML law authority reduction), it would instead do the opposite and cement the AML requirement, like MoneyGram. In any case the issue would have to rise to the supreme court of the US before it would have any meaningful constitutional impact, which is not likely. Despite this: http://bitcoinmagazine.com/5027/freedom-of-speech-in-financial-commerce/Commercial speech has LOWER protection with respect to freedom than other speech in the US. http://www.law.cornell.edu/wex/commercial_speech Ohralik v. Ohio State Bar Ass'n, 1978: "To require a parity of constitutional protection for commercial and noncommercial speech alike could invite dilution, simply by a leveling process, of the force of the Amendment's guarantee with respect to the latter kind of speech. Rather than subject the First Amendment to such a devitalization, we instead have afforded commercial speech a limited measure of protection, commensurate with its subordinate position in the scale of First Amendment values, while allowing modes of regulation that might be impermissible in the realm of noncommercial expression." |
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