 Some alpacas.... |
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Localbitcoin will get you the best and fastest prices, some sales over 2000USD.
Generally fast coins are worth more, so local is #1 for sellers.
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so I assume we still haven't answered whether bitcoin miners are money transmitters (even small-time miners) ??
Unfortunately, that is what legal scholars would call an "interesting question" and spend upwards of six figures arguing about, should it ever come to a court case. My personal opinion is no, but the opinions of the kind of idiots who would prosecute a case like this seems to be leaning the other direction. And by idiot, I don't mean stupid people, that's just my term for people with whom I disagree. It may eventually hit a jury. |
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I am happy for no reason at all. -0-
Such senseless bliss can never be removed.
I do not need coins to be happy.
Coins help me to make others happy, which is fun. So they are good.
+1 There should be one more option in the poll "Bitcoins can't buy happiness" Since there was no such option I voted "BUY BUY BUY" of course. i voted 0, but "Bitcoins can't buy happiness" is more precise buying a few bitcoins has how ever brought much joy into my life, and its not about the profits i made along the way, its the things that i learned about life & myself.http://youtu.be/vaiEwbDkKAQ  but now its over sell sell sell  For me, its the people. Bitcoiners are special. "to the journey" |
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I want to start this in Tampa Bay Florida, we have tons of families in need, does anyone have any ideas as far as making a website to get donations and post ledgers and so forth. I'm a student who does not work and would be basically funded by donations. I'm thinking about trying a 6 months food drive, perhaps the site can go nationwide and actually help more than one area. If anyone is interested please let me know!
Get in touch with Jason King here: https://bitcointalk.org/index.php?action=profile;u=102381He'll direct you anyway possible. Loving this franchise model of philanthropy. Bring the dignity of freedom from hunger, to spawn the creativity of travelers, wheree'er they be.. |
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Would be interesting to "transmit" money through the mail using colored Legos. The Legos themselves wouldn't be the money, just the colors as they are stacked.
I am so going to send a lego private key for the holidays. Maybe an embroidered one, on a pillow, using alpaca yarn. |
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So now if I make a physical cookie dough coin I am a money transmitter?
if it has a private key that gives access to virtual currency in or on it perhaps using chocolate chips for encoding then yes you are a money transmitter. How do you know? The definitions seem vague and ill defined and without effective rationale. I get that we don't want to be helping criminals, but most people aren't criminals and I'm not a policeman, just normal business in low volume and personal level. Just what level of business needs all taxpayers to pay for monitoring and stored in the central database to prevent the purported threats? |
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I am happy for no reason at all. -0-
Such senseless bliss can never be removed.
I do not need coins to be happy.
Coins help me to make others happy, which is fun. So they are good.
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This would need to be modified by the limits of communication, and population.
In the early days, the chances of someone you talk to already knowing about bitcoin were about zero
Today it is greater than zero. as adoption increases, the rate will necessarily slow by the percentage of folks that are already in.
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Great and erudite analysis of why all TA is utterly useless, unless you have inside knowledge of what the big movers are about to do or know news before others do.
Which is why financial markets have a preponderance of insider knowledge cheats and market manipulators, it's the only thing that gives you an edge.
Perhaps it is possible to learn about sentiments, meaning sometimes it is possible to have a good idea of how others are likely to react - but this is again at best marginal and can of course go horribly wrong.
This thread is burning a straw man. Having a p value of less than 100% is different from being useless. TA is less about being always right, and more about how much confidence you put in being right at any particular point. How much you make when you are right, vs how much you lose when you aren't is what makes it valuable or not. For example: RP gave himself an 80% p value for that prediction. He may be right or not, but either way it isn't going to be indicative of whether TA is useful of not, just whether that application of it worked well or didn't. What you have here is an analogy and a theory. Science uses data, so from that point RP's TA is more scientific than your criticism of it. Markets aren't pendulums. In any efficient market TA should yield zero edge over random chance. That said, Bitcoin markets have demonstrated, time and again, startling examples of inefficiency. The scientific way to settle this argument is to create 30 TA algos that backtest well, simulate them them for a year, and find out if there's statistical significance. The efficient market is like doing physics in space and discounting all variables. Yes, the experimentation is needed to settle it. Its been done with the stock market extensively across backtested trade data from databases reaching back decades for every trade recorded. This was most famously done by William O'Neil and condensed in the CANSLIM methods (which just scratches the surface now). Having worked for O'Neil and done some programming for him a few decades ago, I developed some respect for both the scientific methods used and the effectiveness of their rigorous application. I haven't analyzed RP's methods, but claiming that all TA is bunk based on an analogy to pendulums or any other analogy is, well... I think you can do better. |
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Great and erudite analysis of why all TA is utterly useless, unless you have inside knowledge of what the big movers are about to do or know news before others do.
Which is why financial markets have a preponderance of insider knowledge cheats and market manipulators, it's the only thing that gives you an edge.
Perhaps it is possible to learn about sentiments, meaning sometimes it is possible to have a good idea of how others are likely to react - but this is again at best marginal and can of course go horribly wrong.
This thread is burning a straw man. Having a p value of less than 100% is different from being useless. TA is less about being always right, and more about how much confidence you put in being right at any particular point. How much you make when you are right, vs how much you lose when you aren't is what makes it valuable or not. For example: RP gave himself an 80% p value for that prediction. He may be right or not, but either way it isn't going to be indicative of whether TA is useful of not, just whether that application of it worked well or didn't. What you have here is an analogy and a theory. Science uses data, so from that point RP's TA is more scientific than your criticism of it. Markets aren't pendulums. |
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Markets always bust after they boom.
The bust defines the boom. tautology |
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These two statements contradict each other. I am very confused by your escrow system now. Are you holding the coins when you make the quote or are you asking the seller to send the coins to escrow after the deposit is confirmed? I am not trying to smear your service I have used it many times and have never had a problem. I am simply trying to understand the system.
Sounds like both are true. 1) BB holds the coins in escrow. 2) Depositor buys coins. 3) BB askes seller for new coins to replenish escrow. and repeat... |
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Okay, I get that buying Bitcoin and then selling for a profit probably falls under capital gains.
What about mining? Say I started with 0 bitcoin, bought some mining equipment with fiat, and mined 1 bitcoin. If I cash that out, is it capital gains? Other income?
With my situation, it gets even weirder. That bitcoin that I mined has never been exchanged for fiat, but instead has been invested into things like CEX and CryptoStocks. In addition I have a 2nd bitcoin that I bought for $200 that is also invested in these ventures.
I don't plan on cashing any of it out before the end of the year, in fact my mined coins all get reinvested into something. But I have no idea on how to treat this stuff with regards to U.S. taxes. Mining in particular is unique in that I'm "creating" either a commodity or a currency, (depending on how you view Bitcoin) as well as performing a service (collecting a fee for confirming transactions).
If you mine bitcoins it is counted as income based on the value of the bitcoins at the time you mine them. Yes, it's a huge pain to keep those kinds of records, but it is the legal way to do it. It should be "0" when you mine it. At least this is certainly the case with speculative altcoins. After that it should just be treated as a commodity with capital gain applications, where you're initial cost was "0" and anything after that is pure profit. A tax lawyer may tell you that the cost will include all the costs of the mining equipment (depreciated on a schedule) the monthly electricity, rent, and support costs. Some people lose money mining. You don't pay tax on a loss. |
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Having a subscription, and an article in the magazine and still didn't get a copy. I did however get a solicitation for advertising. Its a small market for them, and they have growing pains. Just hope they can pull it together.
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I live in Canada, and I never knew the government took bitcoin as an actual currency o.O
Legal =/= Legal tender. The legal tender laws are not such a great thing for all people. It is how refunds may be given in the local legal tender instead of the original payment currency that was tendered in accepting the offer. (The legal tender are good for all debts public and private) The point here being that "legal tender" is a characteristic of the more rude currencies. It means that you are forced to accept it in payment of a debt, and reduces your choice. A legal characteristic that Bitcoin neither needs nor ought desire. |
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I haven't made a big deal out of this, but I too have registered as an MSB with FinCEN. It's actually not that big of a deal. You can do it online yourself at http://bsaefiling.fincen.treas.gov in 15 minutes, even registering yourself as an individual if you felt like it. Making an account on BSA seemed easier than making a gmail account, and then filling out RMSB (Register Money Services Bureau) was only painful to just get the form working (uses some weird PDF-related plugin and seems to only work in IE7-10) but even still, after having filled out the second form, it was still far easier than applying for Obamacare. As I understand it, it's the states that impose the licensing requirements, as though FinCEN just wants you to sign up and proactively give them a good feed of data as to who's moving money where and then they're happy (which comes chained to a due diligence burden of KYC since you can't really give "good" data without it). My sense is that if FinCEN says I'm a money transmitter, the states need to either say in their eyes no I'm not, or let me license, before they declare "you knew you were a money transmitter, the feds even told you so, and you still didn't comply"... and there's 50 individual states. Am not aware of what you might be doing that ought to trigger this MSB requirement, were they specific? Which is it according to them (if you don't mind sharing)? (1) Currency dealer or exchanger. (2) Check casher. (3) Issuer of traveler's checks, money orders or stored value. (4) Seller or redeemer of traveler's checks, money orders or stored value. (5) Money transmitter. (6) U.S. Postal Service. |
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1) Lawsuit against FINCEN to reclassify bitcoin as commodity/virtual goods.
2) Maintaining database of lawyers who will specialize in bitcoin related cases.
EFF is a good example of similar organization.
It's a waste of money that could be better used to relocate to a less-hostile country. Both are simultaneously possible, and its not that expensive or hard to get started. My last move was more than US$5K and it was only across town. |
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It was organized by MediaBistro. They aren't really Bitcoin folks yet, just getting their feet wet and this was their first Rodeo... If you were there, that would be funnier.... Oh hey NewLibertyDollar! I bought 20 Ounces off you and need to pick up some more. Let me know if you have time next week. Sure, I am waiting on the first 2014 dies but have some of the 2013 yet. Are we doing mail or meetup? |
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