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5361  Bitcoin / Bitcoin Discussion / Re: Bitcoin Will Kill The Income Tax on: January 18, 2017, 11:04:34 AM
Coinbase CEO Says Bitcoin Exchange Will Be 'Forced' to Fight IRS Order





In November of 2016, the Internal Revenue Service ordered bitcoin trading company Coinbase to hand over the identities of millions of customers who made transactions through the company over three years, to find out who hasn't been paying their taxes.

Now, Coinbase CEO Brian Armstrong has suggested in a Medium post that the company will go to court with the IRS, writing, "...it appears we will be forced to contest [the subpoena] in court to protect our customers' privacy, at great expense."

Online bitcoin exchanges are the key point of access for people buying or selling bitcoin. Coinbase, founded in 2012, is one of the oldest and largest.

The IRS ordered Coinbase to turn over the identities of all US customers who used the exchange between 2013 and 2015, in order to determine whether users have been paying taxes on their bitcoin.

Read More: How Coinbase Traders Are Fighting Back IRS Attempts to Reveal Their Identities

The summons has been highly controversial in cryptocurrency circles since it would reveal the identities of many people not under active investigation, and who haven't broken any laws. People do pay taxes on bitcoin (or they're supposed to), and according to the IRS, virtual currencies are treated like property for federal tax purposes.

"Asking for detailed transaction information on so many people, simply for using digital currency, is a violation of [customers'] privacy, and is not the best way for us to accomplish our mutual objective," Armstrong wrote.

Armstrong also suggested an alternate way forward for Coinbase and the IRS, which he writes is for all US bitcoin users to pay their taxes: Coinbase would send a yearly tax form that is commonly used by stock brokers to report financial gains or losses to customers and the IRS, he argued.


Read more at http://motherboard.vice.com/read/coinbase-ceo-says-bitcoin-exchange-will-be-forced-to-fight-irs-order.


Cool

Is Donald Trump a bitcoin supporter?

 Smiley

Maybe he can flip this.

He has favored tax cuts after all.
5362  Bitcoin / Bitcoin Discussion / Re: Another Nakamoto candidate. on: January 18, 2017, 11:00:51 AM
I would expect the real Satoshi Nakamoto to have a background in economics, politics cryptography.

As well as some interest in humanitarianism and social affairs.

Shimomura doesn't fit the profile.

 Smiley
5363  Other / Off-topic / Re: Heisenberg's Uncertain Eyes on: January 18, 2017, 07:53:30 AM
I think the concept behind the heisenberg uncertainty principle is.

The mass of electrons is so low, their orbit can be changed by the mere light reflected off a person's eyes, if a person could directly observe them.

To observe the orbit of electrons we would need a method that didn't interfere with the process.

 Smiley
5364  Other / Off-topic / Re: Game of thrones - pictures of them then and now on: January 18, 2017, 07:21:18 AM
Tyrion's flashback haircut is fantastic.

 Smiley

Was happy when he got the cover of GQ magazine.
5365  Other / Off-topic / Re: Bitcointalk.org Forum Study on: January 18, 2017, 07:13:54 AM
Poll currently says.

8 male
6 female

Very surprising.

 Smiley
5366  Bitcoin / Bitcoin Discussion / Re: Bitcoin saving on: January 17, 2017, 12:30:23 PM
Are there any legit services that payout interest on btc savings the way a bank account would?

I used to know of at least one but they shut down awhile ago.

Still it would be nice to compound interest on top of any price gains btc made.

 Smiley
5367  Other / Off-topic / Re: Android vs Window phones ....... on: January 17, 2017, 12:18:15 PM
I can understand why people dislike apple.   Smiley

Out of curiosity, what's the prime reason for people disliking the iphone?
5368  Bitcoin / Bitcoin Discussion / Re: The reason why people do not get Bitcoin. on: January 17, 2017, 12:09:12 PM
If it took decades for people to accept the idea consuming fruits cured scurvy.

Maybe it is not so hard to explain why bitcoin adoption occurs slower than one might expect.

 Smiley
5369  Economy / Economics / Re: Tell me a secret: any way to earn 0.1 BTC per week? on: January 17, 2017, 12:00:49 PM
I made more than .1 BTC per week gambling when it was much easier to bet accurately on MMA fights a few years ago.

These days, things are much tougher and there are a lot more people I know losing money betting on sports than there are people winning.

5370  Other / Off-topic / Re: What do you think about immortality? on: January 17, 2017, 11:57:35 AM
In some forests, its impossible for young trees to have enough sunshine to grow, without older trees dying and creating an opening where sunshine can get through to younger, smaller, trees.

I don't know if the human race fits that analogy.

But for evolution and progress to occur, it may be natural for older generations to cease to exist in order for younger generations to have their time in the sun.
5371  Bitcoin / Bitcoin Discussion / Re: The Reason Bitcoin will always be #1 on: January 17, 2017, 11:53:05 AM
Brand name recognition.

 Smiley

Makes sense.
5372  Bitcoin / Bitcoin Discussion / Re: What would happen if BTC was Banned? on: January 17, 2017, 11:52:10 AM
If BTC was banned, it would depend on whether the reason for it was legal.

Then the case would end up in court.

If BTC was banned, it could mean facebook and other corporate entities which use their own currency would also have their currencies banned.

Which could mean that there is some corporate pressure not to ban btc due to the legal precedent that would arise as a result.
5373  Other / Off-topic / Re: What type of music do you guys like?? on: January 17, 2017, 11:45:04 AM
Lately I've been listening to stuff like this.

https://www.youtube.com/watch?v=Oy12TCuOE8E
https://www.youtube.com/watch?v=dPbvYOYsJ_0
https://www.youtube.com/watch?v=SOl4xV1cqhY
https://www.youtube.com/watch?v=iZ4pSkmjqFE
5374  Bitcoin / Legal / Re: Money laundering via BTC on: January 17, 2017, 11:40:05 AM
Money laundering via BTC is more or less irrelevent, as far a I know.

The thing about money laundering is, people already do it in large sums with paypal and debit cards.

One common technique is for money launderers to open a smart phone app store with an app that doesn't do anything.

They might open an android app store with an app that calculates farenheit to celsius temperatures.

Then they buy 1,000,000 of those iphone apps using paypal or debit cards to launder their cash.

No bitcoin required.
5375  Bitcoin / Bitcoin Discussion / Re: Why would banks use a blockchain? on: January 17, 2017, 11:36:31 AM
As far as I know, bitcoin transactions and record keeping use an integrated form of cryptographic check summing which could be more difficult to hack than the system banks use.

Blockchain technology is also less expensive, more robust and reliable than the ACH system used by banks.

The systems bitcoin and banks use are difficult to compare.

Banks use firewalls and security features to keep transactions private.

Bitcoin transactions are public and don't need firewalls and other security apparatus which represents a completely different model.
5376  Bitcoin / Bitcoin Discussion / Re: BitCoinUnity on: January 17, 2017, 11:22:12 AM
Uh.

What is telegram?

An instant messaging service? Social media platform? Other?
5377  Bitcoin / Bitcoin Discussion / Re: what's it mean : "Chinese Bitcoin Exchanges Stop Futures and Margin Trading on: January 17, 2017, 11:20:30 AM
If means china's government is a repressive state which actively prevents innovation and progress in the country.

China is an unbalanced nation ripe with corruption, censorship and oppression.

Anything that hints at a better way of doing things the way bitcoin could be interpreted as being a superior currency than that regulated by the state.

Is abolished.

The same way that the great censorship firewall of china attempts to keep chinese isolated from legitimate sources of information and news in order to ease the adoption of state sanctioned propaganda.
5378  Other / Politics & Society / Re: Do you believe in god? on: January 17, 2017, 10:25:47 AM
The statistical improbability of the universe as we observe and experience it, necessitates a God.

The materialist stance avoids answering how statistical improbability was overcome and bases its stance upon weak assumptions such as infinite monkey theorem.
5379  Other / Politics & Society / Re: Is taxation theft? on: January 17, 2017, 10:22:57 AM
Taxation where collected revenues are spent effectively to produce tangible benefits equal to the taxes collected are not theft.

Wasteful, destructive, spending on the part of a state which destroys wealth, productivity and innovation (currency might be said to represent these things) however could be considered worse than theft.
5380  Other / Off-topic / Re: Jack daniels - does it rot your insides? on: January 17, 2017, 10:17:28 AM
Alcohol triggers yeast growth in the gut.

Which in turn causes bloating.

AKA - beer belly.
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