No.  Not unless they is a flaw in the PRNG.  The entropy pool is filled by chaotic events like pagefaults, mouse click intervals, cpu temp, etc.  The same user likely couldn't produce the same entropy pool if they tried.  Now if the distribution of the PRNG is flawed then one could increase their chances by focusing on the area with higher occurance but unless it is horribly flawed that would just give you an academic speed up at best (i.e. a planetary sized supercomputer needing "only" 1B years instead of 100B years).

Still on a more general level the security of a wallet any wallet is only as good as the PRNG so that should be an area of scrutiny.  If you are really concerned there are hardware RNG.

Just a guy who got burned, having to write a giant check to the IRS when you were totally not expecting is a motivator to do some self research.  It was a long term gain and I naively thought that meant 0%.  It didn't.  I found out when the IRS sent me a "friendly" letter advising me I was delinquent and demanding payment in full.

Ironically I actually did work for H&R block when I was 19 (and learned absolutely nothing useful "tax pro" school is about 3 weeks long so "tax pro" doesn't mean a whole lot).  Use a CPA is you want a real professional.


Well I gave you the exact forms and line numbers.  You could pretend and fill out the forms yourself using $1M in long term gain and $0 in wages and see what you get.  Hint it won't be taxes = $0.00.  It should take you all of 5 minutes.  The answer is right there in black and white.

The point is that Bitcoin is perfectly parallel. Even those 1.2 TH/s "units" consists of 400 to 500 GH/s boards.  It makes absolutely not sense to sell a 38 TH/s unit.  You could just sell lots of 2 TH/s units.  Modular, cheaper mainstream power supplies, redundancy (one unit fails send 2 TH/s back for RMA and keep mining with the other 36 TH/s not 38 TH/s).

Today you could buy 20 Cointerra rigs and put them into a datacenter rack and tada 40 TH/s.  What does a single 38 TH/s unit get you?  Bitcoin is an embarrassingly easy parallel problem.  It means twenty 2 TH/s units work just as efficiently as a single 40 TH/s unit.  The advantage of smaller units if you can use off the shelf parts (cooling, power, cases, data, etc).

The number of coins is immaterial.  

It is like saying who is going to buy gold at $20 million per ton (a very good price BTW).  I can barely afford 0.00001 tons.

As for 1/10th of a coin being a lower return than 1 coin come on man is basic math not taught in school anymore.

If you spend $200 for 1 BTC and the exchange rate doubles you now have $400 worth of BTC.
If in some hypothetical future you spend $200 for 1/10th of a BTC and the exchange rate doubles you now have .... TADA ... $400 worth of BTC.


Still if you are worried and your only interest in hype and massive returns there is this revolutionary "altcoin" which has tracked the exact same return as Bitcoin.  You can buy 1 mBTC for the low price of ~$0.25 ea. UNDER A DOLLAR!!!!! MUCH BETTER THAN BITCOIN. Amazing.  Think of how much you can make if 1 mBTC goes to $200.  INSANE PROFITS FOR EVERYONE!!!!!!!!!  Plus while you wait to make your billions you can spend/trade/exchange your mBTC EVERYWHERE THAT TAKES BITCOIN.  Forget BTC buy mBTC today.

Once again failing to understand the concept of open source.  What magical powers would the creator use to kill a cryptocurrency?  Is he going to hack into your computer and steal your copy of the blockchain and client?
Nobody would be interested in cryptocurrencies if Satoshi for example could just show up and flip the off switch on Bitcoin.  The point of a cryptocurrency is to allow payments between two parties without the need for the third party (central authority).

Crypto currencies will live on as long as someone is mining and doing enough development to fix fatal bugs (or as long as people keep buying them on dubious hope that the banks will swoop in and make them overnight millionaires with no work or effort on their part).

The bolded pertion is incorrect. Trust me I know for painful personal experience (>$100K tax bill).  The simple version is they are taxed at their own rate but ALL INCOME counts towards the taxable income number (and in this case WHICH capital gains rate will apply).  For the simple version take a look at line 22 of Form 1040.  It is total income.  Note it is a sum of lines 7 to 21.  Line 13 is Capital gains.

Total Income (see line 22) = Wages + Capital Gains + Business Income + etc
Taxable Income (see line 43) = Total Income - Deductions - Exemptions
Taxes (see line 44) = Taxable Income * Rates <- the different types of revenue are computed at their own rate but that doesn't change the fact that all income from all sources in all forms is part of taxable income.

The complicated version (only follow if you enjoy tax hell).
It really only makes sense if you have a copy of "Schedule D", "Form 1040", and "Capital Gains Tax Computation Worksheet" in front of you.  You can google those terms and get copies of the forms.  
It begins in the "Schedule D".  Gains are separated into long term and short term capital gains but the total capital gains is computed in line 16.
The total capital gain (line 16) from Schedule D is transferred to the "Form 1040" under line 13.  You can see this both in Schedule D instruction for line 16 AND the fact that line 13 on 1040 is labeled "capital gains".

So on form 1040 the total capital gain is copied to line 13.  You will notice that line 22 is total income.  It is the sum of lines 7 to 21 (wages, capital gains, dividends, business income, etc).  On the next page deductions, and exemptions are subtracted from total income to finally end up at "taxable income" (line 43).  Line 44 is taxes.  If you only have regular income you can just look that up but if you have long term capital gains you need to use the ultra fun "Capital Gains Tax Computation Worksheet".  

So on the "Capital Gains Tax Computation Worksheet" for those following along in the home game, you will see you it starts with your taxable income (which includes all forms of income including capital gains) on line 1.  On line 8 the max of the 15% bracket is computed, and subtracted on line 11.  So if you have more income than the max of the 15% bracket line 11 will be positive.  The rest (lines 12 to 19) is computed using a combination of the capital gains rate for >15% bracket or regular income rate.

Capital gains are calculated at the capital gains RATE however they are included in taxable income for the determination of what that rate is.  At one time for long term it was 0% or 15% but it is now 0%/15%/20% plus a bonus (on a completely different form 3.8% to pay for ObamaCare) and then you can add states taxes to that as well as MOST states simply use federal taxable income (line 43) to determine state taxable income.  Worse for 2013 onward is short term gains are regular income PLUS the 3.8% bonus ObamaCare tax so you end up paying more than regular income.

Weak.  As stated before I have a single unit on order with KNC, HF, and Bitfury each.  It is of no stress I intend to experiment with them (and there is a non zero chance I will damage them in the process).  Depending on how well the perform in immersion cooling will depend on if I make a large purchase in 2014 (when prices are lower).  I consider all of them high cost prototypes.  If I break even a across all three that will be a success.


So set the deposit at greater than fair market value.  At $4000 deposit per module RMA I doubt many would be willing to "jump the line" and if people don't want to pay a deposit they can ship first.  As far as not having many modules lying around I would certainly hope they do for both future RMAs and the Nov orders (mine included).  As others have said if you don't want to do something you can always find a reason why it is "impossible".

The entire "second level pcb" is a standalone part. 

Who are you going to pay to do development?  A monkey?  A janitor?  A cosmonaut?
I am pretty sure if would be a SOFTWARE DEVELOPER aka a "dev".  



Anyone who can add a meaningful improvement to the codebase IS A POTENTIAL DEVELOPER.  That is the whole damn point of open source.  What do you think the creator of IXC was?  A guy who added some lines of code to Bitcoin and made IXC.  That concept is called software development.  There is nothing special about the creator.  In your mind you seem to think the creator of an open source project holds mystical powers and thus has the title of "dev".  A developer is someone who develops the codebase.   On a large open source project like Bitcoin many additions to the codebase are not included, many are refined by multiple people over a period of time.  Sometimes developers get annoyed with the process and fork the project to start a new one, either one that is compatible (i.e. another client for Bitcoin) or incompatible (i.e. alt-coin).

If you think 90% of this forum is software developers well that explains why you are so confused about a lot of things.  A minority of people on this forum can write software (beyond "hello world" examples).

Monarch isn't 0.5 J/GH at the wall.  The chip "may" use 0.5 J/GH but when you add in 10% (or more) DC conversion losses, 10% (or more ATX PSU losses), plus the balance of the system you are closer to 0.8 J/GH which is suprisingly pretty close to the numbers from Cointerra, HashFast, and KNC.  Not that surprising given there is only so much efficiency possibly at 28 nm.

Yeah that isn't how ETFs work.  The shares are owned by the shareholders.  If Bitcoin explodes in price the shareholders realize the game not the ETF trustee.  The ETF management company makes a profit on transaction and operational fees and they make those profits regardless of the price.  It is like saying MtGox made billions because the price of Bitcoin went up.

Your delusional if you think a bank can take $1K worth of worthless IXC and convince investors to pay 1000x that.  They would simply buy their own IXC at no markup.  


dev = "software developer".  No code upgrades won't happen without a developer as you are finding out now.  I think you still have problems with the concept of open source.  The person who starts an open source project doesn't "own" or "control" it.  Gavin is a lead developer for Bitcoin he wasn't at the begining and he may not at some point in the future.  Also Gavin isn't the only developer and in the early history of Bitcoin Satoshi wasn't either.  There are dozens of developers working part time on Bitcoin. Bugs are fixed, performance is improved, features are added because many developers are working on Bitcoin over time.  However no developer = no development.  IXC lacks things like basic encryption because it has no development.  Just holding a bunch of coins and praying for the banks to make you rich isn't going to change that.

Nice one.  I remember 1995 clearly as I splurged and bought one of the first economical 1GB drives for a little over $300.  It arrived DOA but luckily the RMA worked fine for years.  When most HDD were measured in MB I had a GB.  I bought it to be able to duplicate CD-ROMs faster and more reliably (as blanks cost IIRC something like $15).  There were a lot of burned copies of warcraft floating around the dorm that year.

The goal was to have all capital gains at 0% for all income brackets.  The longs term gains at 0%/15%/20% depending on income and short term gains at normal income was the "compromise".  Simplified republicans wanted no capital gains tax on anything, the Dems wanted to keep it at regular income, and the complicated tax mess we have today is the compromise in the middle.  Personally I believe interest, dividends, and capital gains should be tax free but if you think the current situation is a scam you likely are going to lynch me so we will save that for another day (hint: you were already taxed on the income BEFORE you wisely invested it).


I think you should clarify with your CPA.  I doubt he is incorrect however you may have misunderstood the limitations.   If your gains are long term (>365 days) and your taxable income (from all sources) puts you in the bottom two brackets then there would be no capital gains tax (the tax rate would be 0%).  However there is no scenario (in 2013, 2014, 2015 or future) in which you can have an unlimited capital gains (say millions of USD) and have no tax liability.

Make sure you keep accurate and detailed records of your Bitcoin trades.  The burden of proof if on you.  If the IRS audits you (generally the chance of audit rises with income) and you can't PROVE your gains are long term the IRS will reclassify them as short term and you will owe the (possibly substantial) difference in tax liability, plus penalties, interest and possibly (if they believe you did it intentionally) penalties.

Note this post should not be considered tax or legal advice and is intended as educational only.

Correct.  There is no wealth tax in the US yet (well not until you die).  This is not tax advice (always consult with a tax professional blah blah blah) but you probably could "cash out" more than $72K per year (assumming no other income source) as long as you did things to offset the income.  For example cashing out an extra $10K and donating it to charity or cashing out $10K and putting it into an IRA (traditional not Roth).   The key thing would be reducing your taxable income NOT tax credits.  A tax credit may reduce the taxes owed but if you go over the "magic line" then the capital gains rate will jump from 0% to 20% likely more than offseting the benefit of any tax credit.  An example would be taking out an extra $20K to put solar panels on your roof.  Sure you could get a $5K tax credit for that but you just bumped your taxable income into the $130K range and now you owe 20% on all of it. 

As long as your taxable income puts you in the bottom two brackets (or tax law changes as it often does) you could avoid any taxes potentially forever.

So they will start an ETF with 100K IXC valued at less than a penny each?  Given the overheads of an ETF I am sure that will be an amazing success.  Still not sure why two posts up you are complaining about no development on critical features and then in post up you are saying "no dev how convenient".

Then again I think you have deluded yourself fully.  You know what will happen and anything which contradicts that has another explanation.  In a year when IXC is still worth next to nothing, has no development, and no investment there will be some other reason why the "savior banks" are going to swoop in any day and boost the price 1000x.

I think I said a lack of statement likely means they haven't completed the tapeout (something that was scheduled for early Oct).  You confirmed my assumption.  Not sure how it was doom & gloom.

Still if the original timeline was tapeout done in early Oct and it is now early Nov how likely do you think delivery in Dec is?

Hint: rocket runs (high cost limited capacity) from foundry generally take 30+ days and standard runs are more like 60+ days.  That is from the date of tape out being complete.   Now that is just raw chips, be sure to add a week or two for packaging, PCB assembly, production, testing and shipping.

That is incorrect.  Old addresses can still be used.  Many people use them everyday. MtGox adds coins received at any one of you addresses to your account balance.

Woo hoo I am RICH and never knew it.  I need to call my mom!  Then again tvbcof post was about ULTRA WEALTHY I assume (and he confirmed with $500K tax post) he was talking about millionaires and billionaires.


That is incorrect.  Not sure how much simpler I can make it.  The 0% capital gains rate only applies to TOTAL INCOME (in all forms including capital gains) which would put you in the two lowest brackets.  

If you have $0 in wages and $1M in capital gains you are looking at as much as 53% short term capital gains rates.  Even long term rates are at least 20% + 3.8% (Obamacare bonus) + state rate.  IRS hasn't yet clarified on treating Bitcoins as other Forex transactions but if they do it would be >30% plus state for all tx long and short.

While you don't pay "regular income" tax rates on long term capital gains, ALL FORMS OF INCOME count towards the threshold for which bracket you will pay.  

I can't think of a worse promotion then someone buying the hype running their jackpot generator for a month or two racking up $100 in electrical cost only to find out they have been duped and they didn't even have a quadrillionth of a percent chance of making a cent.


"Bitcoin is a scam you will never win anything".
"My son downloaded that Bitcoin thing and ran up $500 in electrical bills.  We can't afford this".
"Everyone is paying a lot so someone must be getting rich off this free lottery anyone have any ideas".
"Bitcoin destroyed my computer".

Your computer would be burning electricity.  Do you CPU solomine Bitcoins?  That would be more cost effective.   You could make all kind of "fun" stats on how close to solving a block you got.  In the end it would just mean wasting an asinine amount of energy that has a ~0% chance of every providing a benefit.