I think the irs made some kind of ruling about barter that means tax is paid on the profit from a transfer of value, which bitcoin would fall into.
Its all besides the point considering the fact the irs collects tax regardless of anything written in the constitution ie they will do whatever they want to.
Full agree that the IRS will do whatever. But there are many things they could technically tax that they won't because it isn't feasible or it would be bad PR. If my neighbors and I watch each others kids with a barter understanding for an average of 6 hours a week for 3 decades then you've got 9000 unreported hours, that's $180k easily. But they will never try to collect I can practically guarantee it. Most people don't even have enough money to pay tax on all trades they make and they don't even think about it. Maybe Fresno can give us a break for a while and go yell at people for all the barter income tax they owe. Someone needs to make sure they never call it work after all. fresno just gave you a three-week break. What did you do with it? fresno has helped a lot of people to understand the difference between what they owe and what they assume they owe. Were you listening? Hi Fresno, three weeks went by fast. I have no idea what I owe and neither does anyone else. |
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I think the irs made some kind of ruling about barter that means tax is paid on the profit from a transfer of value, which bitcoin would fall into.
Its all besides the point considering the fact the irs collects tax regardless of anything written in the constitution ie they will do whatever they want to.
Full agree that the IRS will do whatever. But there are many things they could technically tax that they won't because it isn't feasible or it would be bad PR. If my neighbors and I watch each others kids with a barter understanding for an average of 6 hours a week for 3 decades then you've got 9000 unreported hours, that's $180k easily. But they will never try to collect I can practically guarantee it. Most people don't even have enough money to pay tax on all trades they make and they don't even think about it. Maybe Fresno can give us a break for a while and go yell at people for all the barter income tax they owe. Someone needs to make sure they never call it work after all. |
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I don't really see the harm. It isn't too important though, so if anyone does care then maybe it is better to not.
Are you setting the max bet so that the double bullseye will take most of what you have, or are you more conservative than that? Can I get in as a backer before I lose all my coins? ;-)
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Very cool.
Purple
Green
Triple Green
Red
It takes quite a few clicks to throw one dart. Not much can be done about the open client, copy, paste, type 1, press send - at least not yet. But "play again" could assume the same receiving address, and give you the send to addy right away.
Edit: I just saw that it is 2BTC now!
Woah: 5 now, have you added a lot of coins? Will it go higher?
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I think the value will be more affected by the appearance of new things to do and buy with coins.
The average cost of producing a coin may actually be going down anyway. The hashing software has gotten more efficient, people are generating with faster and more efficient GPUs, and more people in cold climates and cheaper power areas have heard about bitcoin. So we might be in a decreasing cost phase.
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It is "of course" for you, but how? Well, it depends on what you mean by project. If you are referring to a project for creating the animation that is supported by the bounty contributions from this thread, then I have no idea. I am not aware of any active projects as of yet. If you mean project as in this thread as being a project to offer bounty, incentive for an animation to be produced/designed, then unless everyone that offered to contribute retracts their offer, I imagine that it will continue. Patience is a virtue. ^_^ There is no need for rush. In fact, the longer that it takes for an animation to be produced, the more potential for the value of the bounty to increase and to possibly create even more incentive. Some people will die, etc. But my offer is still good. |
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I don't need anything now, but I'll keep it in mind.
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Yeah, PayPal is doing this because of Red.
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But... how do you shut down a P2P system?  If "they" have trouble keeping centralized websites like TPB down, how can they expect to shut down a massive P2P application? lol If you wanted to keep bitcoin down with force you would go after the biggest bitcoin accepting businesses. It's bad PR to attack granny for sending birthday coins to Johnny. But they can't stop murder, rape, theft, vandalism, etc... so whatever, good luck, guys. |
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You aren't going to win many converts saying "Bitcoin is better than gold", but maybe try "Bitcoin is a great compliment to gold", which is true since it is very different, but still has the important features.
But it is better than gold. I am not saying that it is a better investment option right now, just that it is a better currency. Any commodity is a potential currency. What made gold and silver excellent currencies are some inner features of such precious metals, that are not only shared by bitcoins, but improved. If you have patience with automatic translations, I tried to explain it here: http://tinyurl.com/38llgfqI mostly agree. I think a widely used bitcoin would be way more practical and convenient than gold. It's just that right now something like buying a car would involve a lot of currency loss because of the thin (relative to the price of a car) markets. And the trouble of actually finding the car for sale. Later though, it will be hands down better imo. |
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How to grow the Bitcoin idea and avoid that governments shut it down?
To help it grow we should try not only the geek community as mentioned above, but the libertarian community as well. If we make a good number of libertarians realize that bitcoins are even better than gold as currency, they will support it. If anyone here has any sort of contact with any libertarian think tank, please, talk to them about bitcoins! Regarding avoiding governments to shut it down... well... if it ever gets sufficiently widespread to threat their monetary policies, you may be sure they will try to shut it down. But... how do you shut down a P2P system? You aren't going to win many converts saying "Bitcoin is better than gold", but maybe try "Bitcoin is a great compliment to gold", which is true since it is very different, but still has the important features. |
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One of us is really confused. You cannot pay transactions fees on one fork with coins from another afaik. And it would be really silly to spend cpu time on a fork that only you can create coins on anyhow, I mean, just create some book entries like everyone else for internal credit or points or whatever. All features of bitcoin are gone if you have your own private fork.
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I'm having trouble thinking of how to start a bitcoin futures market. If two parties want to agree to trade 100BTC for $7 one month from today either they have the funds on the market site now, or they do not. If they do then they might as well trade now, and if they don't they how will the trade be enforced?
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There's a solution for this dilemma.  What is the solution? Well you cant really use btc as a virtual currency because it is a cash equivalent. You can sell tokens for btc though. As long as you cant cash the tokens out for any cash equivalents immediately you wont face any repercussions. Once you have the tokens you can use them like any other virtual currency. This is the same reason you cant just use cash and claim it is a virtual currency. Tokens that you can earn however could be cashed out once your users got to an agreed amount. Bitcoin needs its own virtual currency fork to be used as an in game system and not break the terms of service of zynga,super rewards and other virtual currency products. If btc had been setup as virtual currency from the beginning it would be different,so now it has to be done differently. So what is the status of bitcoin funds on MtGox? Would it matter if he called your balance GOXies? What if he said you can't cash out unless you have 1 MTGOXie? |
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It's not a cash equivalent. Unless I don't know what cash equivalent means. What does it mean?
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Whatever you do, don't change your underwear.
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Is anyone else having trouble with webchat.freenode.net when using Chrome? I had no problems for 2 months, now the captcha does not appear. It works fine in Firefox.
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Ok, the server code went through a major refactoring, so if you find any glitches please share asap. Not much changed visually, except now I can run multiple picks concurrently! A Pick4 will be appearing soon, and these tend to end very fast so take your chances, people! If all goes well I may add a Pick5 too. Thanks, everyone, for supporting this idea! Fun, fun, fun That's great, good work. I see the pick 4 already. |
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Sorry, I went to bed right after posting, sent a few to you now.
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