I thought I would share my experience.
--Background
My accountant is also a Tax Lawyer and the following is based on our conversation.
This is NOT tax advice so use at your own risk.
I use bitcoin as a private investment and as payment method for one of my businesses.
Merchant side:
It's barter.
I must declare product sales in bitcoin as AUDs for both income and GST purposes.
I must declare any profit/loss while converting from bitcoin to AUDs. No GST "should" apply on that process.
Private Investment:
Profit/losses subject to CGT.
Once we get a system like Bitpay you instantly convert the btc to fiat so there should be zero profit or loss so the whole accounting issue just goes away. |
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Did they leave any way to contact them? A phone number?
Did you google the name on the email address to see if it is a real person ? Check linked in?
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Got pulled over for speeding in the Lambo (30 MPH over). Did not get a ticket:)
Sometimes life is win!
Care to share your tips on talking your way out of tickets? |
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What makes you think he has actual lawyers involved and isn't just faking you out?
Did the email come from real lawyers?
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These markets are supremely boring right now.
They will get very fucking exciting if Ghash.io gets another 8% hashing power. It is currently sitting on 42% and climbing fast. Blockchain.info stats only show 38%. Did you get the 42% figure from somewhere else? Look at past 24 hours chart. |
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These markets are supremely boring right now.
They will get very fucking exciting if Ghash.io gets another 8% hashing power. It is currently sitting on 42% and climbing fast. |
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If you look at the 24 hour chart they are at 41%.
Ghash combined with "unknown" is well over 51%.
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A coal dragline peaks at 21,575 kW each time it scoops. (Marion 8750).
That's over 50 times the entire bitcoin network for a single piece of machinery.
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But wait there's more!
what? More scam ! |
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Will make for some good press. Don't expect it to happen any time soon.
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Wonder what effect the alibaba news will have on this news-sensitive market
The fact that it did anything at all shows how stupid traders are. It shows how stupid traders think other traders are. |
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Whales
*to be sung to the tune of Royals by Lorde
I've never seen a Casascius in the flesh
I cut my teeth on doge coins with the groupies
And don't have no vanity address,
In a torn-up town, no QR code envy
But every post's like alt-coins,
Bit Fog, trippin' on the Silk Road
Blockchains, ball gowns, hashin' the mining boom,
We don't care, we're driving Lamborghinis in our dreams.
But everybody's like Bubble, black hat, bitcoins on your press release.
Jet planes, islands, tigers on a gold leash.
We don't care, we aren't caught up in your love of bears.
And we'll never be whales (Whales).
It don't run in our FUD,
That kind of luxe just ain't for us.
We crave a different kind of buzz.
Let me be your p2p pooler (pooler),
You can call me BTC
And baby I'll pool, I'll pool, I'll pool, I'll pool.
Let me live that fantasy.
My friends and I—we've cracked the code.
We count our millbits on the train to the party.
And everyone who knows us knows that we're fine with this,
We didn't come from crypto.
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Hail Whale, full of BTC.
Our Bot sells with thee.
Blessed art thou among bears,
and blessed is the fiat of thy algorithms.
Satoshi.
Holy Whale, Mother of All BTC,
manipulate the news out of China
now and at the hour of our double digit coins.
Amen.
Did a lil remixing to your quote btw ^ came to verify your sacrifice... However with a bearish post from Rpiella in Adam's observer thread and my crystal ball will have the stars aligning to make a rocket ship constellation. Praise be to the Crypto, Praise be to the BTCNice one. If I can figure out how to post a picture from an iphone without too much faffing ill confirm my sacrifice (six times). |
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So where are these $650 coins I was promised with the Taobao crash.
make a sacrifice at the whale temple. however stamp is twittering on going sub 800 again...however panic spread in waves.. on both sides.. my guess was 900 or so for gox even by the coming Friday before the last rally. I think zynga hyped it and taobao ended it. I think fortress fud started it all. I will have to do that then. Wonder if there is any plankton in the goldfish pond. to me a true sacrifice is just panic selling the entire stash  I'm in the hodl it for a year kinda phase to be honest.. I lurked on it for to long before buying or even mining  Luckily my panic buys started at 140. I have placed my prayer in the temple and will light a red candle for Chinese New Year. Long may it burn. |
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Hail Whale, full of grace.
Our Bot is with thee.
Blessed art thou among traders,
and blessed is the fruit of thy algorithms.
Satoshi.
Holy Whale, Mother of All Dumps,
manipulate the news out of China
now and at the hour of our double digit coins.
Amen.
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So where are these $650 coins I was promised with the Taobao crash.
make a sacrifice at the whale temple. however stamp is twittering on going sub 800 again...however panic spread in waves.. on both sides.. my guess was 900 or so for gox even by the coming Friday before the last rally. I think zynga hyped it and taobao ended it. I think fortress fud started it all. I will have to do that then. Wonder if there is any plankton in the goldfish pond. |
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So where are these $650 coins I was promised with the Taobao crash.
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I am going to name my dog Geoff just so I can take him for a walk and yell out "Geoff don't poop on that man's lawn".
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FBI is tumbling them in bitcoinfog.
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Want to snag a rich guy? Accept Bitcoin.
I was thinking more in terms of being a hot blonde and hanging around the yacht club but ok. NB: this attractive young female reporter has just been taken on by CNBC from Forbes last month and her first article is about bitcoin, coincidence? https://twitter.com/MorganLBrennanCNBC is the mouthpiece for Wall St. ... dyodd, she is hot blonde btw (maybe she hangs around yacht clubs too?) ... and you think they might know who the target audience is, right? That's where the billionaires are. You can tell which ones they are because they have the maxi racing yachts with a crew of 19. Time for a boat for Goat? |
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