Or a 2015 thing.

http://www.eetimes.com/document.asp?doc_id=1319679


Let that sink in.  TSMC expect by the end of next year to only have taped out two dozen designs.  Now think about all the billion dollar semiconductor companies in the world, AMD, NVidia, NXP, Infineon, Texas Instruments, etc. TSMC isn't talking about thousands of 20nm chip tapeouts or even hundreds but a staggering two dozen to be taped out by the end of the year.  

16/14nm isn't even a possibility for 2014.  The only one who will have it is Intel who spends $10B a year on R&D and builds their own fabs.  Even Intel is pushing back 16nm chips to the later half of 2014 due to yield issues. So saying 16nm and 2014 in the same sentence even with "maybe" is just wrong.

TSMC is just starting production 20nm in Q3-2014.  It has never been done before, costs will be extremely high, tons of risk, yields are unknown, double patterning will be required for the first time which present a whole host of design and production challenges, and we are talking about two dozen designs for the entire planet.   Still think KNC said they will have a 20/16nm chip in 2014? (Hint: they didn't.)

Once again key word EARNED.  Yes it would be a capital gain not wages.  It would be INCOME but not EARNED INCOME.

I think you are really asking "so I don't have to pay taxes?". Yes you have to pay taxes.  You pay taxes on ALL INCOME not just EARNED INCOME.

Did you think this through?  What would buying a coin on BTC-e, sending it to MtGox and turning around and sending it right back to BTC-e do?

You would have 1 BTC on BTC-e.  Exactly what you had to begin with.  

If you mean SELL a coin on MtGox for USD and then withdraw that USD, deposit the USD on BTC-e and buy another coin to pocket the difference well as someone said .... if it was easy someone would have done it.

It is nearly impossible to get USD out of MtGox, delays are on the order of MONTHS.  It is also nearly impossible to get USD into BTC-e.  The difficulty is reflected in the different price.

Yes.  Everything is income (capital gains, wages, dividends, interest, business profit, gambling wins, etc).  They key was EARNED.  EARNED usually means wages/salary/bonus.

 

No once lost the coins are lost.  The coins are "lost" because the wallet generates an address not in the backup and if no updated backup is made there is no record of the private key (if the original is lost/damaged).   There is nothing to import, they private key is missing.

You can however expand the keypool with the -keypool=xxxx command line argument.  Make the keypool 1,000 keys to give yourself some more "slack" between backups.

Well KNC will be droppping 2.5 PH/s in Nov so I think difficulty will do "something".


KNC never said they are looking to launch 16 or 20 nm miner in March 2014.   TSMC isn't even looking to do tapeouts of 16nm in 2014 so unless KNC is going to build their own $15B fab that timeline is impossible.   Of course KNC never claimed something so silly.

Scammer fail.

All capital gains are capital gains.   The only difference beween long term capital gain and short term capital gain is the tax rate but they are both capital gains.  The fact that short term capital gains are taxed at the same rate as regular income doesn't mean they aren't capital gains.

So it really comes down to does the exclusion cover capital gains or just earned income.  From the name I would assume the latter but this is why tax attorneys make good money.

You can move it yourself.  Look in the lower left there is an option "Move Topic".

Decentralized money has two potential problems.

Tx signing solves the "authentic user" problem.
Mining solves the "consensus" problem.  

There is no purpose to mining other than to secure the network.  New coins are the incentive for mining but the purpose is to secure the network.  If you can solve the consensus problem without mining then there is no reason to keep it.

Mining is required as tx signing only solves half the problem.  You can authenticate txs but you can't bring the network into consensus when their is a conflict (two valid but incompatible txs) with just tx signing.

Miners force the network to accept a consensus. That really is all mining is doing. 

If the same "coin" (technically unspent output) is sent to two addresses (A & B) as seperate incompatible txs then the network will be in conflict.  Some nodes believe A is valid, some believe B is valid.  Technically from a tx signing standpoint they are BOTH valid but obviously the same "coin" can't be spent twice.  Mining is Satoshi's way of forcing all nodes to accept one tx as valid.

b]Without mining how would you achieve consensus when part of the network thinks one thing (like tx A is valid) and part of the network believes a different incompatible thing (like tx B is valid)?[/b]

The MPP calculates what you would earn each day (based on hashrate and difficulty).  Pretty clear that days prior to shipment will be 0 BTC.  The days after shipment until 28 Jan (the end of 90 day window) will depend on hashrate and difficulty for each of those days.

Sure.

Yes. One issue is we don't know how Bitcoin velocity will compare to global velocity so it makes any comparison difficult.  Globally M0 has roughly 15 velocity.  M3 is roughly 1 velocity.  In other words the global economy sustains ~$75T in transactions on $5T in currency (M0) and $75T in broad money (M3).

My thinking is that if Bitcoin was widely adopted it probably would have a higher velocity due to the low friction in transactions but honestly that is just a guess.

I don't envy this "fun" part of your job.  The fact that it never ends has to be an added bonus.

Solid. 

I can't seem to find KNC tapeout announcement.  I believe they announced after the fact but I can't seem to find even the belated announcement anymore.   Still say KNC was 45 days.

That means with three vendors:
KNC = 45 days
Hashfast = 70 days.
BFL >70 days (still not provided any detail on exactly when taped out and hasn't yet indicated they received chips unless they were lying about Aug tapeout it is probably >70 days).

Throw another two weeks for post fabrication work and a week to hedge for any issue and you are looking at 60-90 days (possibly more for BFL) from tapeout to shipping depending on how perfect and how fast the fabrication is.  

Given that I can't really see how Cointerra is going to ship in Dec (31 DEC is 54 days away) and even Jan (31 JAN is 85 days away) becomes increasingly hard to believe if they haven't taped yet.  Maybe Cointerra would like to show us how they are going to meet their timeline or provide an update pushing shipping schedule back.  At this point they have to know if Dec/Jan is realistic or impossible waiting until Dec is just bad faith.   It isn't like they don't know.  They know if the tapeout is done, they know their delivery window from the fab. 

Well it depends on when Batch 2 ships.  Remember Batch 1 was much cheaper even with MPP.  Batch 1 is going to ship at least 6 weeks late so making the MPP retroactive isn't some huge windfall but more the least they could do.   If Batch 2 is heavily delayed as well then they may be worse off but if they ship on time or right after Batch 1 they may even come out ahead.

I agree I just thought I would cover the bases so on the miracle chance it ends up higher than someone doesn't say "D&T that liar he said we would guaranteed get 4 extra boards".   I would bet money it end up being 4 boards shipped per original board for the MPP at least for Batch 1.  Batch 2 & 3 well that might be a little different depending on when they actually ship.

Hashfast clarified today that the MPP begins on 30 OCT for Batch 1.

HashFast Production Update
Miner Protection Program
For those of you covered under the Miner Protection Program™ (https://hashfast.com/miner-protection-program/), this delay will not affect the starting point from which benefits are calculated. For First Batch Baby Jets, the start date of the program will be retroactive to October 30th. We want to make sure a delayed ship date does not reduce the value of the program.[/quote]

That is a good question.  If it is a lot of value I would consult a tax attorney.