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1  Economy / Computer hardware / Bitfury v1.2 H-Cards on: March 12, 2018, 07:18:39 AM
Does anyone in the U.S. have any original Bitfury v1.2 H-Cards they would be willing to donate or sell to me for like $5 a piece?  Looking for enough to populate an original M-Board (16) for my own personal hardware hacking amusement.

Thanks.
2  Bitcoin / Legal / Tax example for US miners using the new IRS ruling on: March 30, 2014, 05:16:24 AM
I'd like a few others to chime in on a hypothetical example which tries to apply the new IRS ruling for miners (or hashrate providers per se).

A miner buys a mining device for 5 BTC @ $100/BTC ($500 cost), the expected life of which is well under 1 year.

The mining device uses $100 in electricity over the year ($100 cost)

The device generates 2 BTC @ $200/BTC and 2 BTC $250/BTC over the year ($900 income)

The miner spends the 4 BTC in 4 transactions:

1 BTC @ $200/BTC
1 BTC @ $300/BTC
1 BTC @ $400/BTC
1 BTC @ $500/BTC

The total gross income is $900

The total cost of the income is $600 ($500 + $100 Electricity)

So the net income is $300.

For capital gains, the basis is:

2 BTC @ $200
2 BTC @ $250

and to consume those 4 BTC via FIFO:

1 BTC $200 from 1 BTC @ $200 => $0 Gain
1 BTC $300 from 1 BTC @ $200 => $100 Gain
1 BTC $400 from 1 BTC @ $250 => $150 Gain
1 BTC $500 from 1 BTC @ $250 => $250 Gain
------------------------------------------------------
4 BTC         from 4 BTC                 $500 Gain.

So the owed taxes are calculated from:

$300 taxed as income plus $500 taxed as capital gains (short term in this example).

Sound right?
3  Bitcoin / Legal / The Law Of Bank Checks on: October 20, 2012, 07:51:24 AM
For anyone interested in the history of payment systems, I found this little gem in Google's archive:

The Law Of Bank Checks

http://books.google.com/books?id=risuAAAAYAAJ&pg=PP1#v=onepage&q&f=false

So far its a fascinating read on how money started to become information.

The most striking part of it is the sheer number of citations to actual litigation since the 1760's to get things in order.


4  Bitcoin / Development & Technical Discussion / License on the block chain on: October 10, 2012, 07:27:17 PM
Is there an existing license on the block chain that puts it in the public domain?

Thanks.
5  Economy / Securities / [GLBSE] Buyback question on: September 25, 2012, 05:41:02 PM
Is it possible to have a listing on GLBSE that can be repurchased by the issuer on a ongoing basis instead of on a particular date?

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