[BitFunder] IceDrill.ASIC IPO (235 Thash Mining Operation powered by HashFast)

[raskul]

Not for Icedrill.  They will have to do KYC verification on every shareholder.

And why is this going to be a problem for IceDrill?

+1

you are either running a legitimate business, or you are not.

[1715200849]

1715200849

[Minor Miner]

Not for Icedrill.  They will have to do KYC verification on every shareholder.

And why is this going to be a problem for IceDrill?

+1
you are either running a legitimate business, or you are not.

Did you submit all your details as a shareholder in order to receive dividends?   No.
Under the Canadian ruling, everyone would have to before distributions of coins starting going out.
And let's not be coy about "legitimacy", the last thing Icedrill could survive would be a visit from the government of Quebec or Canada.   They actually take their tax collection quite seriously up there. 

[Yogafan00000]

Not for Icedrill.  They will have to do KYC verification on every shareholder.

And why is this going to be a problem for IceDrill?

+1
you are either running a legitimate business, or you are not.

Did you submit all your details as a shareholder in order to receive dividends?   No.
Under the Canadian ruling, everyone would have to before distributions of coins starting going out.
And let's not be coy about "legitimacy", the last thing Icedrill could survive would be a visit from the government of Quebec or Canada.   They actually take their tax collection quite seriously up there. 

You don't have to pay tax if you never made any money.

[Entropy-uc]

Not for Icedrill.  They will have to do KYC verification on every shareholder.

And why is this going to be a problem for IceDrill?

+1
you are either running a legitimate business, or you are not.

Did you submit all your details as a shareholder in order to receive dividends?   No.
Under the Canadian ruling, everyone would have to before distributions of coins starting going out.
And let's not be coy about "legitimacy", the last thing Icedrill could survive would be a visit from the government of Quebec or Canada.   They actually take their tax collection quite seriously up there. 

You don't have to pay tax if you never made any money.

Idealist!  Sales taxes have to be paid.

Don't worry though.  There is no way DeadTerra actually paid $2M for the machines he bought so there isn't $300k in sales taxes owing to Quebec right now.

[Mr.Coin]

Glad to see things progressing.  Once everything gets going, I hope we see more solo mining.  There's no reason to pay pool fees.

[flamingleg]

Nice to hear things are still moving and that my initial trust as a shareholder was not misplaced. Just a few questions.

how goes the mighty struggle with canadian taxation law?
Is it true that KYC requires you to disclose the bitcoin addresses of dividend recipients?

I stumbled across something recently that might be of interest to that independent accountant you alluded to in an earlier post.

http://www.ato.gov.au/Business/Imputation/In-detail/Refunding-franking-credits/Refunding-franking-credits---individuals/

regards,
a Sunny australian

[_mr_e]

Have we considered getting our shares up on havelock??

[pedrog]

Have we considered getting our shares up on havelock??

IceDrill is working on their own exchange here: http://cryptomex.io/

[_mr_e]

Have we considered getting our shares up on havelock??

IceDrill is working on their own exchange here: http://cryptomex.io/

Seems like a bit of a waste of resources when decentralized exchanges are coming anyway, no?

Not to mention Havelock already has all the infrastructure and majority of the users / volume.

[molecular]

http://www.huffingtonpost.ca/2014/02/11/bitcoin-regulation-canada-federal-budget-2014_n_4769489.html

"The government plans to bring virtual currencies such as the Bitcoin under the provisions of the money-laundering and anti-terrorism financing regulations.

"It is important to continually improve Canada's regime to address emerging risks, including virtual currencies such as Bitcoin, that threaten Canada's international leadership in the fight against money laundering and terrorist financing."

Online casinos will also be subject to these rules."

"They may be virtual money, but they are going to come under real-life laws."

this is GOOD news. is this the first time a country recognises bitcoin as 'money'?

germany recognized bitcoin as "private money" long ago.

[pedrog]

Have we considered getting our shares up on havelock??

IceDrill is working on their own exchange here: http://cryptomex.io/

Seems like a bit of a waste of resources when decentralized exchanges are coming anyway, no?

Not to mention Havelock already has all the infrastructure and majority of the users / volume.

We never know what will happen to those exchanges, bitfunder is gone, BTCT is gone, and decentralized exchanges are at an early stage.

[will]

Quick update:

1. Heads up: Incoming testing invitation from info@cryptomex.io.
2. Stabilization work going well, ongoing along with full mine audit. Will share consolidated report when complete.
3. If you're a confirmed investor you can see the current mine state @ https://www.icedrill.io/minestate (has been the case for about a week now). Working on better (over time graphing) visualization, will follow when rdy.
4. Final draft of financial report has been done. Traveling at the moment, will post when I get back.

Some of you have heard me say this in the last few days:

Stabilizing a stack of engineering Sierras is not dissimilar from taming a wild, mathematical horse. The experience is magical

[will]

We never know what will happen to those exchanges, bitfunder is gone, BTCT is gone, and decentralized exchanges are at an early stage.

Agreed. Right now it's all about responsibility, trust and technical adoption. Right now I love Ripple, Ethereum and Mastercoin equally (personal, researched opinions). Right now there are too many wild technical/software/regulatory horses to ride comfortably...

[GGGGG]

Quick update:

1. Heads up: Incoming testing invitation from info@cryptomex.io.
2. Stabilization work going well, ongoing along with full mine audit. Will share consolidated report when complete.
3. If you're a confirmed investor you can see the current mine state @ https://www.icedrill.io/minestate (has been the case for about a week now). Working on better (over time graphing) visualization, will follow when rdy.
4. Final draft of financial report has been done. Traveling at the moment, will post when I get back.

Some of you have heard me say this in the last few days:

Stabilizing a stack of engineering Sierras is not dissimilar from taming a wild, mathematical horse. The experience is magical

Email sent. If you are expecting this email and do not see it in your inbox, check your spam folder. If you *really* want that email and don't see it anywhere, please email one of us at support@cryptomex.io.

-Jake

(I work with the Cryptomex team, but am not part of IceDrill)

[babybonobo]

Got the email and I'm up and running on the site!  "Bought" some FIREDRILL and put a little wall up where it belongs    BUYING AAPL AT SUPER LOW PRICE...please sell!! 

I sent constructive criticism to info@cryptomex.io.  Nice work, UI feels great. 

[canth]

We never know what will happen to those exchanges, bitfunder is gone, BTCT is gone, and decentralized exchanges are at an early stage.

Agreed. Right now it's all about responsibility, trust and technical adoption. Right now I love Ripple, Ethereum and Mastercoin equally (personal, researched opinions). Right now there are too many wild technical/software/regulatory horses to ride comfortably...

I'd throw CounterParty in the mix and arguably on top as a superior near-term solution to all of the above. Ethereum has not yet launched, Mastercoin is not feature complete and Ripple doesn't have the decentralized power of the Bitcoin blockchain behind it. I'm a fan of all of the solutions and have invested or plan to invest in each - no need to turn this thread into a flamefest. I'd just throw it out there that CounterParty is functional today and seems like a real competitor.

[SimonBelmond]

We never know what will happen to those exchanges, bitfunder is gone, BTCT is gone, and decentralized exchanges are at an early stage.

Agreed. Right now it's all about responsibility, trust and technical adoption. Right now I love Ripple, Ethereum and Mastercoin equally (personal, researched opinions). Right now there are too many wild technical/software/regulatory horses to ride comfortably...

I'd throw CounterParty in the mix and arguably on top as a superior near-term solution to all of the above. Ethereum has not yet launched, Mastercoin is not feature complete and Ripple doesn't have the decentralized power of the Bitcoin blockchain behind it. I'm a fan of all of the solutions and have invested or plan to invest in each - no need to turn this thread into a flamefest. I'd just throw it out there that CounterParty is functional today and seems like a real competitor.

Let's not forget about OT.

[Yogafan00000]

Quick update:

1. Heads up: Incoming testing invitation from info@cryptomex.io.
2. Stabilization work going well, ongoing along with full mine audit. Will share consolidated report when complete.
3. If you're a confirmed investor you can see the current mine state @ https://www.icedrill.io/minestate (has been the case for about a week now). Working on better (over time graphing) visualization, will follow when rdy.
4. Final draft of financial report has been done. Traveling at the moment, will post when I get back.

Some of you have heard me say this in the last few days:

Stabilizing a stack of engineering Sierras is not dissimilar from taming a wild, mathematical horse. The experience is magical

I can't log in.  I have username, password right. I set up 2FA and it never worked.  All I get is "invalid token" when trying to sign in. I copied the 'secret key' directly into WinAuth. "Forgot Password" function is useless.

Waste of 10 minutes.

[redphlegm]

I'm sure this has already been asked but I can't seem to find the answer. Any schedule / expectations on mining income dividends to shareholders?

[raskul]

We never know what will happen to those exchanges, bitfunder is gone, BTCT is gone, and decentralized exchanges are at an early stage.

Agreed. Right now it's all about responsibility, trust and technical adoption. Right now I love Ripple, Ethereum and Mastercoin equally (personal, researched opinions). Right now there are too many wild technical/software/regulatory horses to ride comfortably...

ixcoin is on the up. worth considering?