Philopolymath (OP)
Sr. Member
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Activity: 558
Merit: 295
Walter Russell's Cosmogony is RIGHT!
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March 12, 2014, 06:06:31 PM |
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Anyone know if this rumor is true???
I have buddy high-up in treasury dept said they are NOT allowed to talk or comment about it..great??
Very hard to get any info?
Prepare to be taxed and regulated???
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Support Alien Beer Circle research...www.youtube.com/watch?v=MRXDk2RMQ4A
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aminorex
Legendary
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Activity: 1596
Merit: 1029
Sine secretum non libertas
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March 12, 2014, 06:33:51 PM |
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Nobody knows if its true. Very strange things happen from time to time. But pretty much everyone can probably agree that it's extremely unlikely, as phrased.
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Give a man a fish and he eats for a day. Give a man a Poisson distribution and he eats at random times independent of one another, at a constant known rate.
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greenlion
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March 12, 2014, 08:26:12 PM |
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I think what probably happened is that somebody in the DOJ didn't understand what mining was and asked somebody to explain it, and the person explaining happened to choose the analogy that mining is a lottery to produce a valid hash, and the rate at which you hash corresponds to the number of lottery tickets.
Allow some offhand conversation like that to filter through various echo chambers and telephone-games, and suddenly a conversation like that turns into equating mining with gambling, when there isn't necessarily anything real to go on.
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MonkeyBear68
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March 12, 2014, 11:54:00 PM |
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This actually would be a dream result as we do NOT have to pay taxes on lottery winnings in Canada. This applies to both lotto and casino winnings. This would essentially mean that any Bitcoins produced by mining would be tax free income. Having said that I highly doubt the Harper™ Government would forego the taxes on Bitcoin mining by declaring it as money earned by gambling.
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promojo
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March 13, 2014, 05:30:39 AM |
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Let's be real here.... How is the government going to know we are mining... Not going to happen. They will not be able to regulate/monitor this.
promoJo
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TheButterZone
Legendary
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Activity: 3010
Merit: 1031
RIP Mommy
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March 13, 2014, 06:31:40 AM |
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Mining has ~ electrical draw as grow houses.
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Saying that you don't trust someone because of their behavior is completely valid.
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pbj sammich
Sr. Member
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Activity: 272
Merit: 250
Fighting Liquid with Liquid
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March 13, 2014, 01:46:33 PM |
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I think what probably happened is that somebody in the DOJ didn't understand what mining was and asked somebody to explain it, and the person explaining happened to choose the analogy that mining is a lottery to produce a valid hash, and the rate at which you hash corresponds to the number of lottery tickets.
Allow some offhand conversation like that to filter through various echo chambers and telephone-games, and suddenly a conversation like that turns into equating mining with gambling, when there isn't necessarily anything real to go on.
That's seriously troubling no?
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cdooer
Member
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Activity: 106
Merit: 10
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March 13, 2014, 03:09:50 PM |
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This actually would be a dream result as we do NOT have to pay taxes on lottery winnings in Canada. This applies to both lotto and casino winnings. This would essentially mean that any Bitcoins produced by mining would be tax free income. Having said that I highly doubt the Harper™ Government would forego the taxes on Bitcoin mining by declaring it as money earned by gambling. Like MB68 says, there are no taxes on gambling winnings in Canada, so whats the problem?
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verdun2003
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March 14, 2014, 04:12:10 PM |
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they can regulate as much as they want, won't change too much in the grand scheme of things. Look at the drugs, or alcohol during prohibition, 30 000 speakeasies. If Bitcoin doesn't exist anymore, won't be because of useless regulation, but because of a better alternative. My 0.02cts
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byronbb
Legendary
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Activity: 1414
Merit: 1000
HODL OR DIE
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March 16, 2014, 01:35:34 AM |
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Anyone know if this rumor is true???
I have buddy high-up in treasury dept said they are NOT allowed to talk or comment about it..great??
Very hard to get any info?
Prepare to be taxed and regulated???
Canada does not as of now tax gambling winnings in any form, even if that revenue is generated by a professional gambler, ie a winning poker player or sports-bettor.
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seriouscoin
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March 17, 2014, 07:55:02 AM |
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Mining has ~ electrical draw as grow houses.
which doesnt prove a thing. If you let your government make laws base on suspicion you might as well move to North Korea.
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seriouscoin
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March 17, 2014, 07:56:14 AM |
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I says this rumor smells like a load of horseshit (no offense to you Horsecoin)
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TheButterZone
Legendary
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Activity: 3010
Merit: 1031
RIP Mommy
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March 17, 2014, 09:11:21 AM |
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Mining has ~ electrical draw as grow houses.
which doesnt prove a thing. If you let your government make laws base on suspicion you might as well move to North Korea. The People don't "let" tyrants do anything, tyrants do whatever the fuck they want and kill or cage you if you oppose tyranny.
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Saying that you don't trust someone because of their behavior is completely valid.
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BitOnyx
Member
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Activity: 112
Merit: 10
Cryptocurrencies Exchange
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March 20, 2014, 03:24:23 PM |
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Any links regarding this issue ?
There are many plans but as long as there are no execution I wouldn't worry about it.
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Dr.Zaius
Newbie
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Activity: 28
Merit: 0
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March 20, 2014, 09:58:07 PM |
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Bitcoin mining is gambling. It is pure chance if you discover a block or not, no skill is required. A mining rig merely improves ones probabilities, akin to a sports betting hotline predicting outcomes/ card counting etc.
Bitcoiners invented very misleading terms ie "mining", calling bitcoin a currency etc. To give themselves some perceived legitimacy. This has led to major confusion amongst governments and users.
Mining for bitcoin no different then playing roulette.
This would be great news for Canadians since gambling is not taxable in Canada.
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5thStreetResearch
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March 20, 2014, 10:03:56 PM |
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Bitcoin mining is gambling. It is pure chance if you discover a block or not, no skill is required. A mining rig merely improves ones probabilities, akin to a sports betting hotline predicting outcomes/ card counting etc.
Bitcoiners invented very misleading terms ie "mining", calling bitcoin a currency etc. To give themselves some perceived legitimacy. This has led to major confusion amongst governments and users.
Mining for bitcoin no different then playing roulette.
This would be great news for Canadians since gambling is not taxable in Canada.
its not pure chance. Your chances are based on your investment and setup
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01BTC10
VIP
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Activity: 756
Merit: 503
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March 21, 2014, 03:59:03 AM |
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In most case gambling gains are tax exempt. However Bitcoin mining is certainly already taxable.
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