That makes sense, and I see where it could potentially drive BTC adoption in these "deal" communities. Looking forward to testing!

The tone of some of these posts is certainly off putting, and some of the participants are obviously immature, but that doesn't mean there aren't real questions to be answered. I'm sure most CEO's don't especially like being called out on the carpet during their annual meetings either, but when you are an adult, and you handle other people's money, you have to expect it, and handle it professionally.

There is an incredible lack of transparency and communication in these BTC ventures, and while we all knew that going in, it certainly doesn't mean we shouldn't press for more disclosure. And of course some investors don't understand how the businesses is run; they have invested their money to purchase the benefit of someone else's expertise.

Your attitude seems to be that people who've invested should have no right to ask questions, because, well darn, just look at that return. I don't know when you bought your shares, but there are obviously many who haven't seen 20% this year. But that's beside the point anyway, as there is no inverse relationship between profit and disclosure.

Bottom line: if you communicate plans and challenges in a timely, professional manner, you have far less confusion and discord. That should be as self evident as the absurdity of appointing someone with the disposition of Triumph the insult dog to speak on behalf of the company.

Well, judging by the rather jaundiced condition of your ignore button, I don't think it's just me and my mice over here.

You just go on spouting nonsense about how the rest of us with real, actual, assets evaluate investments. It's a nice complement to the incredibly effective PR 2.0 you've introduced to the Internets.

Seriously, comparing what you do to public relations is like comparing Costco potato salad to Pommes Dauphinoise.

If that was their plan, they probably wouldn't have telegraphed it by seizing only their US accounts, thereby giving them time to move funds and destroy evidence.

I don't think Mt. Gox will be shut down, but I do not like that they have not even addressed the issue, and I won't risk funds with them until there is some clarity around their position.

As for Bitcoin itself, anything that happens to Mt. Gox will be a temporary setback. New, compliant exchanges are opening and will continue to open.

How about giving Amazon Marketplace a shot? I see BTC related items for sale over there.

Heavy users are probably still reeling from the loss of their assets. It will take time for the uncertainty to clear, but I think people will eventually migrate to Bitcoin, especially if we continue to experience lower volatility.

I don't believe the USG has any intention of banning the use of Bitcoin, but they obviously intend to impose KYC and AML rules at the points of exchange. Exchanges have always been the weak links, but many are getting their houses in order, and new, compliant, exchanges will come online. In addition, there will always be ways to get money in and out of Bitcoin outside of the professional exchanges (OTC, LocalBitcoins, etc.) for people requiring some semblance of anonymity.

Neat idea!

Do you think it's necessary to offer a discount to BTC sellers since this service allows them to use their coins somewhat anonymously without any conversion / transfer fees?

Anyway, I have a Prime membership and am a bit of an Amazon junky, so I'd be happy to help you test.

This is a fantastic idea and I would definitely purchase one.

I don't really see a big market for a "branded" regular tablet because most of us probably have one or more already. I could see a market for a Bitcoin branded case / cover though, and I'd probably purchase something like that too as a conversation starter.

P.S. I'd be interested in discussing an investment in these two ideas as well.

Does "hearing about it" really equate to "visibility" as an investment opportunity? Most of my relatives who watch the nightly news have heard about it too, but none of them have any visibility into it's potential as an investment or even basic usefulness. :-)

If there was a jurisdictional assumption, it was not made by me, but implicit in the post I was responding to. I was just pointing out that capital gains tax considerations wouldn't influence the strategy as described.

Happy to donate as well, but I don't think it will go that far.

Most state money transmission laws are concerned primarily with protecting the public from people of low character running off with funds, as opposed to the Feds, who are interested in making sure no one moves a penny without "proper oversight." Once OP's attorney makes it clear that he is simply purchasing virtual goods, I bet he'll be right back to business.

The vile worm who made the complaint obviously struggles for a reason to exist. He should do the noble thing and reduce his oxygen consumption by 100%.

Thanks for that. Haven't come across that one.

Cool, I'll send you a message when I'm in Albany. I'm always buying so as long as it's enough to get me up off the couch I'll take whatever you have left.

I wrote up a project for my programmer to create something like this, but I don't think it's going to be necessary thanks to your work.

I'll spend more time with it this week, but so far I'm really impressed. Great job!

LOL, OK kiddo. You've got it all figured out.

Just a minor point... capital gains taxes would be due on his/her profit even if the coins were bought back at a cheaper price immediately after. Capital gains are taxed any time a gain is realized (converted to USD). The only time the outcome of a sale is not immediately recognized for tax purposes is in the case of a capital loss, which is considered a wash sale if a substantially similar asset is purchased within 30 days (before or after) the sale.

tl:dr If he sold at a profit, he owed tax regardless of his strategy.


People who don't want to go to jail. If you think you can avoid taxes on sums this large you are in for a rude awakening.

Thanks for the smooth transaction!

computerguy, I'm going to be in Albany for Father's Day (16th) and a couple days after. If you haven't sold by then, I'll take all 60 at 4% under Mt. Gox.

Edit: Be happy to meet you with cash.

This is precisely the problem with all BTC denominated assets, as it can trip up even sophisticated investors who aren't familiar with currency risk. You might head off some of the criticism if you included reference currency statistics in footnotes to the monthly reports. I realize that including fiat based statistics might raise ideological objections, but the fact is, SD is not really a pure BTC play because betting is highly influenced by exchange rates.

Adding more frequent updates about progress toward the new site design and features would probably also reassure investors that the captain is still at the helm. The single post you made above is more forthright and reassuring than anything put out by the various PR agents involved.

For me, SD is a buy at these prices, but there is room for improvement with regard to shareholder communication.

Perhaps it is your "limited experience," or perhaps your spinning and dissembling have reached new levels of absurdity.

Of course price is considered when making ANY investment; it's integral to even the most basic calculations related to expected return on capital, such as net present value or internal rate of return. You must have started eavesdropping too late in those conversations you overheard because these analyses are done prior to making decisions about how to allocate capital.

It's painfully obvious to all of us lowly forum users, who aren't "actual investors," that you have absolutely no idea what you're talking about. I'm sure it's standard PR procedure to apologize when you've needlessly and erroneously insulted people evaluating an asset you purport to represent.