Bergman
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Merit: 10
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February 22, 2016, 09:20:47 PM |
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More about the book I am writing: This book is one of the winning strategies of DNotes. It is also a crucial component of CRISP For Retirement and CRISP for Employee Incentive Benefits. Additionally, at $24.95, it is a revenue generator for the new company of which DNotes will own up to 25%. Each project we are involved in is a building block and they are all strategically linked. We are committed to be the best in class and always prepared to go the extra mile, doing things others won't do so that one day we would be in the position to do things others couldn't do. DNotes is a classic case in point to showcase many of the principles and business philosophies mentioned in the book. The book is intended to be of significant help for small business owners and startups. Consider these: According to the latest data from the U.S. Census Bureau: There 6 million operating (active) businesses in the United States with the following employment breakdown:3,791,000 4 or less employees 1,000,000 5 to 9 employees 600,000 19 to 19 employees 500,000 20 to 99 employees 90,000 100 to 499 employees 18,000 500 to 10,000 employees 1,000 10,000 or more employees " America’s small businesses are the engines of job creation. Small businesses create seven of every ten new jobs and they employ just over half of the country’s private sector workforce. (SBA Office of Advocacy)" Source: http://smallbusiness.house.gov/uploadedfiles/april_recess_small_biz_talking_pts.pdf“ The U.S. Census Bureau reports that the total number of new business startups and business closures per year -- the birth and death rates of American companies -- have crossed for the first time since the measurement began. I am referring to employer businesses, those with one or more employees, the real engines of economic growth. Four hundred thousand new businesses are being born annually nationwide, while 470,000 per year are dying.”
“Because we have misdiagnosed the cause and effect of economic growth, we have misdiagnosed the cause and effect of job creation. To get back on track, we need to quit pinning everything on innovation, and we need to start focusing on the almighty entrepreneurs and business builders. And that means we have to find them,” according to Jim Clifton is Chairman and CEO of Gallup. He is the author of The Coming Jobs War and coauthor of Entrepreneurial StrengthsFinder Source: http://www.gallup.com/businessjournal/180431/american-entrepreneurship-dead-alive.aspxMakes sense, readers who appreciate the book would be interested to follow DNotes and likely would want to get involved. Smart strategy, let alone the direct benefit for DNotes from sales. |
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kanus1113
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February 22, 2016, 09:38:39 PM |
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Great find Chase! I enjoy watching and reading Tony Robbins material. This is a good primer for anyone interested in digital currency.
The taxation as an asset created at the time it was mined is a bit more tricky. The process and classifications for tax purposes needs to be better defined for miners. I feel it shouldn't be taxed until it is spent or otherwise converted, and at that time the value is derived, for tax purposes. Making it an asset, determining the value at the time it is mined, then declaring a profit or loss at the time it is converted or spent makes it almost impossible to keep track of and leaves far too many questions unanswered.
What does everything think the ideal taxation rules should be (for miners, but feel free to share your thoughts on other scenarios)? (could make a good DCEBrief article)
It really doesn't make sense to tax it that way and I'm sure it will be challenged by someone. Mining bitcoin, in my opinion, should be classified as business income, with the $ value you received on sales constituting income. You are then eligible to deduct all your expenses to arrive at taxable income. You are producing a 'product', just as you are if you were a gold miner, and assigning a value as each oz of gold comes to the surface is ridiculous. There are so many rules that makes this subject to interpretation. In Canada (not sure about US), there is a 30 day rule when buying and selling the same security to prevent people from selling to declare a loss and then buying back in within 30 days. The way the asset rule is now, they are essentially saying mining is buying, which makes it almost impossible to keep track of things with the 30 day rule. Tally things up at year end and be done with it!  There is also a capital gains rule about certain 'repetitive' buy and sell activity (which I believe mining will fall into) being classified as business income (higher tax rate). This was just a couple of tax rules off the top of my head. There are probably hundreds of different case scenarios, showcasing the need for accountant education in crypto! Agreed, doesn't make a lot of sense. I don't know how they do it for gold mining, but I'm glad you mentioned that as it could be a reference point for further investigation as I'm sure the gold mining process is very similar. Perhaps a 20 year grace period to to give the industry a chance to take off will be a good thing. Looked up gold mining taxation, they do pay taxes when it is exchanged, that seems to be the most logical for miners. The rest is just over-complicated nonsense, value is derived at the time of the sale. Love the idea of having a grace period, that would be a huge benefit to the industry and give it a kick. |
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DNotes (OP)
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Activity: 1932
Merit: 1111
DNotes
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February 22, 2016, 09:44:21 PM |
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More about the book I am writing: This book is one of the winning strategies of DNotes. It is also a crucial component of CRISP For Retirement and CRISP for Employee Incentive Benefits. Additionally, at $24.95, it is a revenue generator for the new company of which DNotes will own up to 25%. Each project we are involved in is a building block and they are all strategically linked. We are committed to be the best in class and always prepared to go the extra mile, doing things others won't do so that one day we would be in the position to do things others couldn't do. DNotes is a classic case in point to showcase many of the principles and business philosophies mentioned in the book. The book is intended to be of significant help for small business owners and startups. Consider these: According to the latest data from the U.S. Census Bureau: There 6 million operating (active) businesses in the United States with the following employment breakdown:3,791,000 4 or less employees 1,000,000 5 to 9 employees 600,000 19 to 19 employees 500,000 20 to 99 employees 90,000 100 to 499 employees 18,000 500 to 10,000 employees 1,000 10,000 or more employees " America’s small businesses are the engines of job creation. Small businesses create seven of every ten new jobs and they employ just over half of the country’s private sector workforce. (SBA Office of Advocacy)" Source: http://smallbusiness.house.gov/uploadedfiles/april_recess_small_biz_talking_pts.pdf“ The U.S. Census Bureau reports that the total number of new business startups and business closures per year -- the birth and death rates of American companies -- have crossed for the first time since the measurement began. I am referring to employer businesses, those with one or more employees, the real engines of economic growth. Four hundred thousand new businesses are being born annually nationwide, while 470,000 per year are dying.”
“Because we have misdiagnosed the cause and effect of economic growth, we have misdiagnosed the cause and effect of job creation. To get back on track, we need to quit pinning everything on innovation, and we need to start focusing on the almighty entrepreneurs and business builders. And that means we have to find them,” according to Jim Clifton is Chairman and CEO of Gallup. He is the author of The Coming Jobs War and coauthor of Entrepreneurial StrengthsFinder Source: http://www.gallup.com/businessjournal/180431/american-entrepreneurship-dead-alive.aspxMakes sense, readers who appreciate the book would be interested to follow DNotes and likely would want to get involved. Smart strategy, let alone the direct benefit for DNotes from sales. Thanks Bergman, the book will also give the company a good financial start to allow us to grow more quickly without requiring external funding. |
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DNotes (OP)
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Activity: 1932
Merit: 1111
DNotes
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February 22, 2016, 09:44:49 PM |
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Great find Chase! I enjoy watching and reading Tony Robbins material. This is a good primer for anyone interested in digital currency.
The taxation as an asset created at the time it was mined is a bit more tricky. The process and classifications for tax purposes needs to be better defined for miners. I feel it shouldn't be taxed until it is spent or otherwise converted, and at that time the value is derived, for tax purposes. Making it an asset, determining the value at the time it is mined, then declaring a profit or loss at the time it is converted or spent makes it almost impossible to keep track of and leaves far too many questions unanswered.
What does everything think the ideal taxation rules should be (for miners, but feel free to share your thoughts on other scenarios)? (could make a good DCEBrief article)
It really doesn't make sense to tax it that way and I'm sure it will be challenged by someone. Mining bitcoin, in my opinion, should be classified as business income, with the $ value you received on sales constituting income. You are then eligible to deduct all your expenses to arrive at taxable income. You are producing a 'product', just as you are if you were a gold miner, and assigning a value as each oz of gold comes to the surface is ridiculous. There are so many rules that makes this subject to interpretation. In Canada (not sure about US), there is a 30 day rule when buying and selling the same security to prevent people from selling to declare a loss and then buying back in within 30 days. The way the asset rule is now, they are essentially saying mining is buying, which makes it almost impossible to keep track of things with the 30 day rule. Tally things up at year end and be done with it! There is also a capital gains rule about certain 'repetitive' buy and sell activity (which I believe mining will fall into) being classified as business income (higher tax rate). This was just a couple of tax rules off the top of my head. There are probably hundreds of different case scenarios, showcasing the need for accountant education in crypto! Agreed, doesn't make a lot of sense. I don't know how they do it for gold mining, but I'm glad you mentioned that as it could be a reference point for further investigation as I'm sure the gold mining process is very similar. Perhaps a 20 year grace period to to give the industry a chance to take off will be a good thing. Looked up gold mining taxation, they do pay taxes when it is exchanged, that seems to be the most logical for miners. The rest is just over-complicated nonsense, value is derived at the time of the sale. Love the idea of having a grace period, that would be a huge benefit to the industry and give it a kick. Thanks for looking into it kanus, that makes the most sense to me. |
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IMZ
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Merit: 1000
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February 23, 2016, 05:15:01 AM |
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Bitcoin up almost 10% in a week, and alt-cap-to-Btc-cap just snuck over 15%
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DNotes (OP)
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DNotes
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February 23, 2016, 07:12:44 AM |
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DNotes (OP)
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DNotes
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February 23, 2016, 07:13:51 AM |
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Bitcoin up almost 10% in a week, and alt-cap-to-Btc-cap just snuck over 15%
Great news, Bitcoin up AND ALT2BTC Cap still growing. Positive indicators. |
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DNotes (OP)
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February 23, 2016, 03:31:08 PM |
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Very interesting. Sort of like a social marketplace with cryptocurrency. |
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DNotes (OP)
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February 23, 2016, 04:06:42 PM |
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Chase
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Merit: 1005
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February 23, 2016, 06:49:15 PM |
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I don't know if anyone has posted this yet, but it looks pretty impressive (from partially reading and scanning). This epic slideshow tells you everything you need to know about bitcoin and blockchain right now"Magister Advisors has produced arguably the most comprehensive report to date on what is happening in the world of bitcoin and blockchain startups." http://uk.businessinsider.com/magister-advisors-report-on-bitcoin-and-blockchain-ecosystems-2015-12 |
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DNotes (OP)
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DNotes
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February 23, 2016, 07:58:47 PM |
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As I read through, it felt familiar. Great slideshow though with lots of great points and statistics! |
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Dyna
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Merit: 1060
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February 23, 2016, 09:09:00 PM
Last edit: February 23, 2016, 10:11:43 PM by Dyna |
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As I read through, it felt familiar. Great slideshow though with lots of great points and statistics! Some interesting information. They covered many companies in our industry. Good reference materials. Took me a while though. Thanks for the post, Chase. |
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Dyna
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Activity: 1610
Merit: 1060
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February 24, 2016, 01:16:05 AM |
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Jim Clifton, Chairman and CEO of Gallup, is a leadership and management thought leader. Though the article is a little dated, it caught my attention because of the emphasis he placed on the strength of entrepreneurs.
When entrepreneurs can focus not just on their only strengths but also that of their employees the company will improve their odds of succeeding. It is important to recognize any weaknesses but work as a team to compliment one other to overcome those shortcomings. The comment that, "we must overhaul corporate mindset so that all people can be leaders" sounded like a quote from my book.
Entrepreneurs: Better Know Your Strengths
Apr 28, 2015
Editor’s note: Jim Clifton was interviewed recently for the National Federation of Independent Business’ Playbook magazine on the strengths of entrepreneurs. Here are the questions and answers.
Why is it so important for entrepreneurs to understand and focus on their strengths? What can this reveal?
Great entrepreneurs have core strengths in common, such as extreme determination and a gift to create successful business models. But outside of these core characteristics, they have more differences than commonalities -- how they grow to success is highly individualized.
Some will get there by being experts, some by being master salespeople. Some become successful as master managers, while others achieve success as extreme individual achievers. Some are driven by an insatiable need to compete, others solely by a mission to change the world.
The more precisely an entrepreneur understands their strengths and weaknesses -- and then builds strategies to maximize their strengths -- the higher the probability that they will build something of significance that creates millions or billions of dollars of value, thousands of good jobs and something that changes the world a little to a lot.
In your experience, are there any particular strengths that you have found to be the most common among the top entrepreneurs?
Rare drive and determination. Confidence and self-efficacy that overrides the presence of risk. A gift to create customers and profitable business models.
Is it equally important for entrepreneurs to understand their weaknesses?
Of course. But weaknesses only need to be minimized, as they never develop into strengths. All the money and success comes from knowing and maximizing strengths. The miracle of human development lies within focusing growth around one’s strengths and making weaknesses irrelevant.
What advice would you have for small and midsize business owners who want to become better leaders for their organization?
Two things. First, change your current culture to a strengths-based culture for you and all of your employees. Everything will change for the better and your organization will boom to new heights if you do this. A strengths-based culture is one in which every individual knows their strengths and is put on a job where they use them every day.
Second, know this: You are always CEO of customers. The ultimate definition of your career will simply be how many true believers you created for your products or services. Everything else follows that.
***
Jim Clifton is Chairman and CEO of Gallup. He is author of The Coming Jobs War (Gallup Press, 2011).
Comment From:
Monika Black, PhD
Coach | Strategist | Disrupting Leadership
"Yes! In order to integrate into a strengths-based organization we must overhaul corporate mindset so that all people can be leaders, operating in their true strengths, with unbridled authenticity."
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DNotes (OP)
Legendary
Offline
Activity: 1932
Merit: 1111
DNotes
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February 24, 2016, 05:23:47 AM |
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Jim Clifton, Chairman and CEO of Gallup, is a leadership and management thought leader. Though the article is a little dated, it caught my attention because of the emphasis he placed on the strength of entrepreneurs.
When entrepreneurs can focus not just on their only strengths but also that of their employees the company will improve their odds of succeeding. It is important to recognize any weaknesses but work as a team to compliment one other to overcome those shortcomings. The comment that, "we must overhaul corporate mindset so that all people can be leaders" sounded like a quote from my book.
Entrepreneurs: Better Know Your Strengths
Apr 28, 2015
Editor’s note: Jim Clifton was interviewed recently for the National Federation of Independent Business’ Playbook magazine on the strengths of entrepreneurs. Here are the questions and answers.
Why is it so important for entrepreneurs to understand and focus on their strengths? What can this reveal?
Great entrepreneurs have core strengths in common, such as extreme determination and a gift to create successful business models. But outside of these core characteristics, they have more differences than commonalities -- how they grow to success is highly individualized.
Some will get there by being experts, some by being master salespeople. Some become successful as master managers, while others achieve success as extreme individual achievers. Some are driven by an insatiable need to compete, others solely by a mission to change the world.
The more precisely an entrepreneur understands their strengths and weaknesses -- and then builds strategies to maximize their strengths -- the higher the probability that they will build something of significance that creates millions or billions of dollars of value, thousands of good jobs and something that changes the world a little to a lot.
In your experience, are there any particular strengths that you have found to be the most common among the top entrepreneurs?
Rare drive and determination. Confidence and self-efficacy that overrides the presence of risk. A gift to create customers and profitable business models.
Is it equally important for entrepreneurs to understand their weaknesses?
Of course. But weaknesses only need to be minimized, as they never develop into strengths. All the money and success comes from knowing and maximizing strengths. The miracle of human development lies within focusing growth around one’s strengths and making weaknesses irrelevant.
What advice would you have for small and midsize business owners who want to become better leaders for their organization?
Two things. First, change your current culture to a strengths-based culture for you and all of your employees. Everything will change for the better and your organization will boom to new heights if you do this. A strengths-based culture is one in which every individual knows their strengths and is put on a job where they use them every day.
Second, know this: You are always CEO of customers. The ultimate definition of your career will simply be how many true believers you created for your products or services. Everything else follows that.
***
Jim Clifton is Chairman and CEO of Gallup. He is author of The Coming Jobs War (Gallup Press, 2011).
Comment From:
Monika Black, PhD
Coach | Strategist | Disrupting Leadership
"Yes! In order to integrate into a strengths-based organization we must overhaul corporate mindset so that all people can be leaders, operating in their true strengths, with unbridled authenticity."
Inspiring article, I appreciate the approach of drawing on your own strengths as well as the strengths of your team. |
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IMZ
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Activity: 1498
Merit: 1000
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February 24, 2016, 06:09:51 AM |
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DNotes (OP)
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Activity: 1932
Merit: 1111
DNotes
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February 24, 2016, 06:16:04 AM |
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I was trying not to think about it  . But yes there are worse implications as a result. |
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IMZ
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Activity: 1498
Merit: 1000
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February 24, 2016, 08:18:28 AM |
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If I were still well enough, Dnotes, I'd like to write some theory on how increases in technology make a case for (evil, sneaky, incremental, ever-so-seemingly-reasonable) increases in government power. If you study anarchist and anarcho-capitalist and libertarian value-systems, you can see how The Bare Minimum has incrementally increased.
To take any sort of line-in-the-sand stance drives you to a sorta: "strong allegiance to one's own ethnic group anti-tech tribe rather than to society as a whole."*
*http://dictionary.reference.com/browse/communalism
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TeeGee
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February 24, 2016, 10:33:45 AM |
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Nice IMZ,
I saw that image on Facebook yesterday and considered sharing it here.
Obviously, as you were saying earlier.
2013, Bitcoin = drugs.
2016, Bitcoin = terrorism.
This is despite how all the evidence is to the contrary.
There are holes on apple Iphone AES chips that are large enough to walk right through. Mac's are a little safer because you can disable document saving to the Icloud. This being the case, I'm surprise they talk as though they can't get in - I postulated that it was to convince society at large to continue using apple products as though they were safe. Problem with that is a whole bunch of conservative professors from NIU started calling me crazy (yawn). For the record, these academics are the type who publicly say that supporting encryption is supporting terrorism etc etc - I'm amazed they're allowed to teach.
That said, John McAfee has offered to get into the phone for the FBI, but has not had a response. It is not this phone that they care about, but encryption full stop. Apparently the FBI changed the password and locked themselves out... lol.
Kind of throws a spanner into some of those wild conspiracy theories - if they manage to lock themselves out of a phone haha.
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