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it seems we have our first invalid block...
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anyway, good luck with both the child and the betting pool.
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Do you already have some sort of information on the sex that you're withholding?
Not a thing.
Were you and your wife vertical or horizontal at conception? omg... he went there... |
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even winners can be losers with this set up.
example:
mike bets 100btc on girl
john bets 1 btc on boy
steve bets 1 btc on boy
alan bets bets 1 btc on boy
you take 10% of the 103 btc which is 10.3 btc and if its a girl mike "wins" 92.7 btc when he put in 100 btc
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The update made it work for me again but now it doesn't scroll through my deepbit workers any more. It just sits on the first 4. I doubt many people have more then 4 workers, just something I thought you would like to know about.
keep up the good work.
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I've convinced 2 people so far.
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the obviously fake ones make me sad...
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welcome to the bitcoin community qberty. the place is populated by paranoid anarchists so here you're presumed guilty until proven innocent.
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Ironically the "diversity" movement is making the human race less diverse as we all start to interbreed. 100 years from now everyone will be a light shade of brown.
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Saying communism would work if people weren't so greedy is like saying painting everything the color of baby shit would work if everyone were blind or that a boat with a hole in it would work if water was thicker. Develop a system that compliments human nature or you didn't really develop a system.
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Holy crap, that is genious! Bitcoin will now have its own version of the Santa Claus rally  Business 101 most big corp CEO's take $1 salary and pay themselves in dividends and the corporations go on spending sprees at the end of the year. how do you think a huge company like GE gets away with paying 0 taxes? GE paid no taxes because they were epitome of crony capitalism. One of the many things we would like to be done with. care to explain? define your variables. what do you mean by "crony capitalism" and who are "we"? |
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Dude, you give communism a bad name. Sure, each in that system contributes with his "abilities", then receives what he "needs", but remember that abilities here doesn't mean money, it means mental and physical. Only a disabled, child, woman, or elder wouldn't be able to contribute "as much" in a communist system, but nearly everyone else can give his max. It's not a free-loader system, far far far from it.
The problem with communism is there's no incentive to work. If I make the same working 80 hours a week that I do working 1 hour a week then why the hell would I work 80 hours a week? Its human nature. Bitcoins have value because of the work it takes to create them. If you get the same value no matter how much work you put in then no one will put in work. Communism gives communism a bad name. |
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my question is, when profits are directly connected to being able to sell contracts. and by definition a pool fluctuates. what happens when you sell a contract and some people leave the pool for a different one and you dont have the power to fulfill that contract? just seems like one less degree of control to the miners to me, and a poorly thought out one.
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Holy crap, that is genious! Bitcoin will now have its own version of the Santa Claus rally Business 101 most big corp CEO's take $1 salary and pay themselves in dividends and the corporations go on spending sprees at the end of the year. how do you think a huge company like GE gets away with paying 0 taxes? |
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I've talked to some accountants and this is what I understand on the matter and what I do personally.
If you just cash out bitcoins to yourself thats capital gains. you pay 10 to 35% depending on your tax bracket unless you hold onto the bitcoins for more then a year, then its long term capital gains which is 5-15%.
If you start a business and pay yourself a salary from bitcoin earnings that normal income tax. Thats the same 10 to 35% as short term capital gains.
What I did is incorporate and I pay myself in dividends. Dividends tax is 0-15%
The issue with incorporation is that either the incorporated entity itself is subject to corporate income tax (double taxation) or the profits, whether distributed as dividends or not, pass-through to you as regular income. the corporation is taxed on their total profit at the end of the year. on Dec. 31 buy bitcoins then sell them again on Jan. 1 and you pay no taxes because at the end of the year you had no profits. |
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The thing about distributed systems like bitcoin is, weak points are identified as damaged and routed around. the network is fluid. if tychos pool is used to attack the network then tychos pool will instantly dissolve. slushes pool just went down, is the bitcoin network broken now? no, the damage was identified and routed around.
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if there ever is such a thing ill be sure to mine in it with my old Pentium 3 system sitting in my closet lol communism. |
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I've talked to some accountants and this is what I understand on the matter and what I do personally.
If you just cash out bitcoins to yourself thats capital gains. you pay 10 to 35% depending on your tax bracket unless you hold onto the bitcoins for more then a year, then its long term capital gains which is 5-15%.
If you start a business and pay yourself a salary from bitcoin earnings that normal income tax. Thats the same 10 to 35% as short term capital gains.
What I did is incorporate and I pay myself in dividends. Dividends tax is 0-15%
Im no accountant. this is just what my accountant friends told me.
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well the fact of the matter is your bitcoin profits are directly dependent of miners making bitcoins for you to buy in the first place. as more miners join the network it becomes harder for each miner to get bitcoins and the price goes up. everybody is winning here. money all around.
the difference is, if bitcoins went to 50 cents tomorrow, people that recently bought bitcoins would lose a lot of money but my machines would still be making me profit.
How would your machines be making a profit? Are you neglecting the initial cost of them? If rigs were free or extremely low cost, then yes, you would since electricity costs alone would need a huge difficulty. If miners actually closed down shop when prices dropped, difficulty would decrease. But the economics of the situation does not dictate this. Miners that already purchased rigs should only shut down if the electricity costs plus any damage to their hardware from use exceeds the value they mine. This is again the same example, give me $10,000, I'll give you $1 a day, and I guess you are profitable since you are always making $1. But I'd rather invest my $10,000 in a stock or mutual fund or bond, which is risky, but at least not a retarded investment in most reasonable situations. As I said before, mu machine paid for itself in the first month. anything after now is just profit |
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well the fact of the matter is your bitcoin profits are directly dependent of miners making bitcoins for you to buy in the first place. as more miners join the network it becomes harder for each miner to get bitcoins and the price goes up. everybody is winning here. money all around.
the difference is, if bitcoins went to 50 cents tomorrow, people that recently bought bitcoins would lose a lot of money but my machines would still be making me profit.
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