I think the whole idea of a RULING is LAUGHABLE! The IRS doesn't RULE over US!They need to abide by and run by LAWS and There is no Law that declares Bitcoin PROPERTY! And the IRS HAS NO POWER TO MAKE LAWS! It house to run through the system The house and Congress and most of all us THE PEOPLE!!!!They can't just make up NEW Tax laws on a whim  They are grasping at straws for anyone dumb enough to declare their Bitcoin as Property!Whats next everyone has too declare their Computers as Property and pay a EXTRA yearly tax for owning a simple computer?Computers are going to need Registration Numbers and Certs for your asic or graphic card like a Car or House? Businesses use computers to make money everyday and there's no such thing where they have to pay extra for the tecknology and a miner is a just a simple complex computer when you break it down. The key is just NEVER SELL YOUR BITCOIN FOR FIAT or ever SELL ON A EXCHANGE once you trade for FIAT well then you just set your self up for them to ask for thier share since they own the US dollar lol But BITCOIn has no CENTRAL AUTHORITY and THE IRS HAS NO JURISDICTION to TAX A WORLDWIDE FORIEGN CURRENCY thats like them say they will tax all GOLD IN existance no matter where it is! They say it's property? I say show me THE LAW that says so? PROVE IT!Show us the law that says so? Because we all know its a CURRENCY and they don't want to say it!a RULING MEANS JACK SHIT! JUDGES MAKE RULINGS not IRS without something put into LAW and WRITING and going through Congress and the PEOPLE having a say? they have no leg to stand on! That may very well change in time as they try and be the WORLD POLICE but when it all comes too it they don't have the MAN POWER nor RESOURCES to MAKE ANYTHING ever STICK! People just give the Gov way way too much Credit ! Most of their Power is just a ILLUSION instilled with FEAR in our MINDS on what might happen?when that's all it is is a big might backed by NOTHING!! much like the U.S DOLLAR lol people need to take back their power People need to ease up on the exclamation point. |
|
|
|
Referring to it as a "line of credit" implies that the underlying value represents a loan, which is not factually accurate in any possible way.
This. OP needs to put down the crack pipe. |
|
|
|
Fucked off? I took his own assumption, proved him wrong as you can check for your self No, you didn't. Not even close. The fact that you still believe you're winning (or making a point, or whatever it is you think you're doing here) is positively comical. In point of fact, you're still a fucking dumbshit. |
|
|
|
Yes, exactly, and another word for hoarding is of course saving. That's too simplistic. Hoarding gold (or Bitcoin) is really about speculation. You're converting fiat into something that you think will be worth more at some point in the future. That's not quite the same as saving, where the fiat at least has an opportunity to work while it is being saved. Bitcoin is clearly not the same as gold, of course -- even if people are in fact speculating with it and using it as a store of value. As for whether there's too much capital for the available work, well... I don't think we've reached that point yet. |
|
|
|
|
Warren Buffet is also famously derisive of gold, so I wouldn't get too worked up about it. WB's philosophy is about putting capital to work, something gold is largely incapable of. Inasmuch as Bitcoin has a vague resemblance to gold (people hoarding it as a store of value) I wouldn't expect WB to see its utility. Not yet, anyway.
|
|
|
|
Sorry, but you are thinking inside the box of todays technology.
Come back after you study fractal computing (using light waves instead of those atoms).
Electromagnetic waves are the answer.
It's true what they say. Bitcointalk has no shortage of dumb fuckwits. Unfortunately, half of them think they're actually smart. |
|
|
|
Yep it is different because profit on gold or silver is subject to "capital gains tax" bitcoin is not. Jesus dude go study some economics. I daresay that my knowledge of economics is not deficient here. You, on the other hand, seem not to understand that profits from buying and selling BTC is -- by default -- taxed as ordinary income in the US. If and when the IRS decides to tax Bitcoin profits as capital gains, that may or may not actually be an improvement, depending on your current tax bracket. So what is your complaint again? Please be specific, because you have utterly FAILED to state anything coherent or meaningful here, except to spew partisan rhetoric about "them", whoever "they" are. |
|
|
|
Say you bought 10000 dollars of bitcoin in January '13 then cashed out in November '13. Tada you just became a millionaire durp. You seem to be inferring that profit from buying and selling Bitcoin is somehow special -- different than, say, gold or some other collectible asset. Is that what you're trying to say? |
|
|
|
The difference is freedom of trade. DEMOCRATS are much more likely to throw a high tax on gains so we can pay for more entitlements and big government programs like free healthcare for all.
Since the US doesn't actually have "free healthcare for all", your statement is basically just rhetoric and can be safely dismissed as such. |
|
|
|
There ARE regulations in the pipeline lol. From your earlier post: There is no bill yet because they havent decided on an approach yet. If they haven't decided on an approach yet, I hold it as self-evident that there's nothing in the pipeline. You're referring to politicians who might have spoken about the subject at some point, which isn't the same as legislation, or a bill, or even a committee investigation. So no, there are no regulations at the moment, and there aren't any in the pipeline. And your blame of such on the "liberals" is asinine, at best. Uncle Sam notices when new millionaires come along and makes sure they pay the fair share. Yes, that's correct. How exactly is that related to Bitcoin? |
|
|
|
There is no bill yet because they havent decided on an approach yet. Most experts believe the will go the "Capital Gains route" but that has yet to be determined. So what you're saying is that there aren't any actual US regulations yet, and there aren't even any in the official pipeline. You're anticipating regulations at some point in the future, and blaming "liberals" for creating them, despite the fact that none actually exist. If and when those regulations do exist, you're expecting the regulations to take the form of a capital gains tax -- much like any other security that individuals might trade for profit -- rather than some prohibition on the actual trade of BTC. Is that the gist of what you're trying to say? |
|
|
|
Well your statement would then imply that the US regulations imposed on Bitcoin do not matter. Is that your stance? Which US regulations would those be? The ones they are working on now. It could be the biggest market factor all year. IT could go either way at this point, does the US want to take the lead on the bitcoin revolution or do they want to protect the dollar. Which ones are "they" working on? Please be specific. A bill number would be helpful. |
|
|
|
Well your statement would then imply that the US regulations imposed on Bitcoin do not matter. Is that your stance? Which US regulations would those be? |
|
|
|
If you like Bitcoin and vote liberal, you are one dumb motherfucker.
This is the dumbest thing I've read all day. Dumber even than that idiot that thinks Moore's law will allow us to brute-force Satoshi's private keys someday. Bitcoin has fuck-all to do with liberals or conservatives or even liberfuckingtarians. Your statement amply demonstrates that mindless fuckwits like yourself desperately need a "them" to blame for everything you don't like. I'll tell you what: the world could do with quite a bit less mindless partisan politics. |
|
|
|
Are you twelve ? You are making yourself looks worst and worst, so again where are your proves? where are your facts? your arguments? weren't you calling me an uneducated idiot in your previous comment? what's happened to that? Re-read my post. I'm not offering any "proves" or facts. It would be a monumental waste of effort, since several people (who are probably smarter than me) have already tried to explain the basics to you right here in this thread. You dismissed them out of hand, without even a very good rationale for doing so. Why would I offer insight to someone who clearly isn't interested in it? What kind of an idiot would I be if I took that particular bait? Nope. Not going to do it. I understand the problem in ways that you clearly don't, and I'm utterly un-interested in trying to "help" you. You're a willful fucking idiot, and I'm quite happy to let you go on being a willful fucking idiot for the rest of your stupid life. Ta-ta! |
|
|
|
I am looking to loan 100 BTC, expecting 50 BTC to be paid back in two days.
Try anything claiming to be "cloud hashing". |
|
|
|
I have a Bachelor degree in fundamental physics, a Master degree in Mechanical Engineering, a European Masters in Management and Business Strategy and also preparing a PhD And yet you're still an idiot. Further proof that education doesn't make you smart. I've worked in the computer industry for several decades. Everybody in this industry knows that Moore's Law is an observation of a trend, not a fundamental guarantee of future performance. And everyone knows that the constraints of physics (which you yourself claim to hold a degree in) will put a halt to that trend. But I'm not going to try to convince you of these fundamental truths, or try to explain the math to you. Trying to educate educated idiots is a provably obvious waste of time. I'm just going to point out what a stupid fuckwit you are and be done with it. Oh, but I will give you a tip: smart people know how to recognize people smarter than themselves. This is a critical differentiator between idiots and smart people. |
|
|
|
Yeah lol, people do that mistake alot when extrapolating, but when you have 5-6 decades of data I believe it is safe to make an extention to the next decade or two, considering, that we've already know what's coming up in the next few year (example 2014, Intel moving to 14nm, and the other Fonderies to 20nm and under when it comes to CPU (production has already started), 2016 10nm with prototypes already existing in Intels labs for example and being tuned for production, everything Graphen related and nanotubes is already in labs all over the world being tested, enhanced and more importantly, starting to get an industrial orientation (production unites, process, and what's not) as for Quantum computing we are already doing the first baby steps in this area, commercial availability to develop software and firmware and alghorithms....
The only thing more annoying than idiots are idiots that think they're smart. You, sir, are an idiot. No amount of technobabble (that you no doubt read somewhere on Gizmodo) is going to convince the actually smart people in the room that you have any idea what you're talking about. Best thing to do at this point is just to shut the fuck up, lest you look any stupider than you already do. You're welcome. |
|
|
|
|
Show Posts
