Yeah, but none of those 20nm designs are bitcoin miners.
that doesn't mean they couldn't be. Yeah, and I could find a bitcoin block with my CPU mining today. Sure, it's possible. |
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Since when does the tax service get copies of your bank statements?
Since always. Where'd you get the idea that they don't? Yikes! Where do you live? At least in the US, the tax service isn't sent such private information. At least not until you are audited. The government has no business combing through everyones bank statements without cause. |
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confirms customers are taping out 20nm designs now and they've done quite a few already, and will start 16nm in 2014.
Yeah, but none of those 20nm designs are bitcoin miners. |
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I think $1000 might be too far away. What about a party at a closer milestone, say $420?  |
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<= 12.5 BTC = 4 additional boards
I don't see how anyone will break even, even with a 4-module MPP delivery 90 days later. |
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Will the tax service look at these deposits as income?
Since when does the tax service get copies of your bank statements? |
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To those that got in in 2011 I'm sure 10K coins is no big deal.
Yeah, it's a pizza. Two pizzas, actually. |
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It apparently is related to mining pools dumping there nice new coins directly onto the exchange. So apparently with minted coin, they need 100 confirmations before they can be spent? So he mixes your transfer out with the new mints, and presto...you are stuck waiting 3 days for your coins...
The solution is trivial. 2 hot wallets. All deposits go into one wallet, then when matured, then transfer to the other wallet. All withdrawls come out of the second hot wallet. Problem solved. |
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Added all seven AMT machines. Check their page for a larger section of timing
Anything above 192 GH/s is untested. |
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and it is not clear that BFL has a financial leg to file a lien against.
No need to worry about that. Josh loves to gloat about how they're raking in the dough. |
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This, the FBI is going to be visiting the address of every single person who purchased from SR. Anyone who uses these sites is a fool.
How? SR didn't get the addresses of buyers. Only sellers got peoples addresses. |
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If this bubble can reach $1k, will it promptly create a crash from all of the sellers at that price point? Or will it begin much sooner ($500)?
The more it goes up, the less I want to sell. |
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See updated OP with new dates and pricing.
BTC 0.92? You're kidding, right? |
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1 mBTC only costs 27 cents.
They are cheap.
Too rich for my blood. I deal with satoshis. |
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It's a standard back to base warranty.
Refusing advanced RMAs is a huge cost to their customers. It does not cost them any extra. I guess the "under-promise, over-deliver" dosn't go very far. |
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I am taking BFL to court this week in Pennsylvania, also suing for treble damages since they knowingly violated the law and the FTC guidelines in not honoring refunds when requested after delays as well as the Pennsylvania Consumer Protection Law If anyone has any horror stories or if anyone would like to make any statements for me in court that would be awesome, i'll update this thread once everything is processed. Has anyone else taken ButterflyLabs to court? If not im very surprised, seems like an easy win to me.
Post a successful court decision and I'll send you a bitcoin donation! |
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Woo hoo I am RICH and never knew it. I need to call my mom!
Well, I left out having a home paid off. If so, congrats! That is incorrect. Not sure how much simpler I can make it. The 0% capital gains rate only applies to TOTAL INCOME (in all forms including capital gains) which would put you in the two lowest brackets.
If you have $0 in wages and $1M in capital gains you are looking at as much as 53% short term capital gains rates. Even long term rates are at least 20% + 3.8% (Obamacare bonus) + state rate. IRS hasn't yet clarified on treating Bitcoins as other Forex transactions but if they do it would be >30% plus state for all tx long and short.
While you don't pay "regular income" tax rates on long term capital gains, ALL FORMS OF INCOME count towards the threshold for which bracket you will pay.
Thanks for the clarification. You don't have to pay taxes on growth in value for capital assets until you cash them out, right? So go with $0 in wages, cash out $72K in capital gains each year, and leave the rest of the $10M in bitcoins untouched? |
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Once again "nice living" =/= rich. Please try to stay on topic. The claim made was the "rich" pay little to nothing in capital gains taxes. That is a false statement. Poinring out that the middle class has a low capital gains tax is "proving" to me something I never disputed.
Then we have a different definition of rich. I consider someone pulling in $70k in salary, with absolutely no debt, to be basic-rich. Add in millions in capital gains at 0% tax rate, and that's mega-rich. |
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How are you going to pay off your mortgage? By selling $200K worth of BTC? That is going to put you above the first two tax brackets. Yes, for just 1 year. Then the next 50 years I'll be back down in the bottom tax brackets. Can someone live on $38K in taxable income. Sure. People live on a lot less. It is hardly what I would consider rich. If you are living on more than that well you are going to pay capital gains taxes.
A couple making up to $72,500 is in the 15% tax bracket, and without any debt, $72k is a very very nice living. Beyond that you get the 0% long-term capital tax rate. Score! |
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Key word in the two lowest tax brackets. I doubt most people would consider the two lowest tax brackets as "rich".
But "rich" people can drop themselves down into the lowest tax brackets. For example, if bitcoins go up high enough, I'll pay off my mortgage, have no other debt, and be able to reduce my regularly needed income to much lower levels and stay down in the bottom tax brackets while living very comfortably. |
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