Crypto X Change - Public message regarding alt chains

[Raoul Duke]

Because it happened before people just paying him up and shuting up about it... Are we supporting criminals now? Because extorsion is a crime.

So is fraud you go to push for that for CoinHunter/RealSolid as I do believe that is what the pump and dump scam he tried to get me involved in would be classified as.

Got it?

Yeah I got it your a little weasel just here to shoot your mouth off who will not address the issue at hand where you asked "Are we supporting criminals now?" where I then pointed out the above you can't have it both ways the same treatment would be deserved for both if in fact BCX did what you said I already know it is a fact on the CH/RS.

I'm certainly less of a weasel than you or CH/RS or BCX, that's for sure.
I'm not here to get rich quick by any means, like you guys.

[Bitcoin Oz]

I am sure that the one thing that is confirmed to hurt real bad is the tax in Australia

Thats not on topic at all. Unless you are asking whether GST applies to cryptocurrencies ? Or whether the carbon tax affects mining them in Australia?

[Raoul Duke]

No your just a little scumbag here to spread your baseless lies, BS and mis-information and generally disrupt this forum your not fooling anyone so don't try to claim the holier than tho BS on us.

Yup, that's me.

Now, please, describe yourself...

[Bitcoin Oz]

Because it happened before people just paying him up and shuting up about it... Are we supporting criminals now? Because extorsion is a crime.

So is fraud you go to push for that for CoinHunter/RealSolid as I do believe that is what the pump and dump scam he tried to get me involved in would be classified as.

Got it?

Yeah I got it your a little weasel just here to shoot your mouth off who will not address the issue at hand where you asked "Are we supporting criminals now?" where I then pointed out the above you can't have it both ways the same treatment would be deserved for both if in fact BCX did what you said I already know it is a fact on the CH/RS.

I'm certainly less of a weasel than you or CH/RS or BCX, that's for sure.
I'm not here to get rich quick by any means, like you guys.

Enough with that please. Lets have a civil discussion.

[repentance]

I am sure that the one thing that is confirmed to hurt real bad is the tax in Australia

To date nobody knows exactly how the ATO is going to treat Bitcoin income.  Australian taxation laws regarding income from hobbies (as defined by the ATO) are vastly different from those elsewhere and the majority of those trading on the exchanges may benefit from those difference.  Eventually someone will apply for a private ruling and then it will become clearer.

[Bitcoin Oz]

I am sure that the one thing that is confirmed to hurt real bad is the tax in Australia

To date nobody knows exactly how the ATO is going to treat Bitcoin income.  Australian taxation laws regarding income from hobbies (as defined by the ATO) are vastly different from those elsewhere and the majority of those trading on the exchanges may benefit from those difference.  Eventually someone will apply for a private ruling and then it will become clearer.

Isnt running an exchange a service ?

The ATO classifies your company as a hobby if your turnover doesnt exceed $75,000 a year.

We still have over 30% company tax rates so yes we do pay tax on profits.

The GST just replaced sales tax. I also wonder if they will try and slap import duties and things like that on bitcoins not mined here.  

[Raoul Duke]

SAC,

Psy is purposely drawing responses from you to clutter the thread and make un-readble. PLease ignore him.

I what?

Don't be a moron. I asked a question to the OP, not to you or to SAC, and yet, both of you responded to me, so, you better put up or shut up.

One more thing: thanks for trying to control your dog, BCX...

[Bitcoin Oz]

Isnt running an exchange a service ?

The ATO classifies your company as a hobby if your turnover doesnt exceed $75,000 a year.

We still have over 30% company tax rates so yes we do pay tax on profits.

The GST just replaced sales tax. I also wonder if they will try and slap import duties and things like that on bitcoins not mined here.  

Honestly I know you were slightly joking about the import duties, but in all seriousness how do they handle fiat currency exchanges?  Do they tax incoming fiat?  If so you might not be too far off mark....

Depends if its a  commodity like gold and silver. I dont think they tax fiat currency.

Then again this is why I dont run an exchange and leave it up to the people who can 

[repentance]

Isnt running an exchange a service ?

The ATO classifies your company as a hobby if your turnover doesnt exceed $75,000 a year.

We still have over 30% company tax rates so yes we do pay tax on profits.

The GST just replaced sales tax. I also wonder if they will try and slap import duties and things like that on bitcoins not mined here.  

The exchanges themselves would definitely be classed as businesses (the actual definitions are more complex than just turnover and refer substantially to "business like activities" - so your income can be low and still classed as business income or higher and still classed as hobby) and be taxable as such.  As service providers, they'd also have a GST obligation upon reaching the threshold of $75,000 (technically they're collecting it from their customers and passing it on to the ATO as opposed to paying it themselves).

What's not clear at the moment is how the ATO will ultimately regard any income people using the exchanges make from their trading activities and what information the ATO might eventually (and I'd say this would be a fair way off - the ATO doesn't typically bring in policies which affect almost no-one) require the exchanges to disclose about their clients trading activity.  The ATO already gets information from banks about interest earned on their customers accounts (it's pre-filed on your tax return if you use e-tax), and that's likely to be extended eventually to other forms of income which people often neglect to include on their returns.  But in the short-term I don't think there are many exchange users whose trading activities would be regarded as anything other than a hobby by the ATO (meaning that income wouldn't be taxable, but nor could they claim any losses).

[freequant]

Because it happened before people just paying him up and shuting up about it...

Really? Any evidence?
Otherwise your accusation is libel, and you are the one that contravenes the law.

[worldinacoin]

I would sure love to see how they explain the differences between mining coal and mining bitcoin to those folks at the tax department.  Should be worse than those water torture.

I am sure that the one thing that is confirmed to hurt real bad is the tax in Australia

To date nobody knows exactly how the ATO is going to treat Bitcoin income.  Australian taxation laws regarding income from hobbies (as defined by the ATO) are vastly different from those elsewhere and the majority of those trading on the exchanges may benefit from those difference.  Eventually someone will apply for a private ruling and then it will become clearer.

Isnt running an exchange a service ?

The ATO classifies your company as a hobby if your turnover doesnt exceed $75,000 a year.

We still have over 30% company tax rates so yes we do pay tax on profits.

The GST just replaced sales tax. I also wonder if they will try and slap import duties and things like that on bitcoins not mined here.  

[Raoul Duke]

Because it happened before people just paying him up and shuting up about it...

Really? Any evidence?
Otherwise your accusation is libel, and you are the one that contravenes the law.

Sure, take a look:

And happened with namecoin, when they paid him I dunno how many namecoins for him  not to attack the chain. search for it on the forum. Or maybe someone else will show it to you.
He also threatened doublec that he would do a 51% attack on solidcoin and double spend at his exchange, which forced doublec to close the solidcoin exchange.

This guy is an admitted criminal. He doesn't even try to hide it.

[freequant]

I'm certainly less of a weasel than you or CH/RS or BCX, that's for sure.
I'm not here to get rich quick by any means, like you guys.

You don't even need to mention it.
With all the time you are spending trolling here, you are a screaming antithesis of effectiveness
You aren't going to get rich that way, and it is not a question of time.

[freequant]

Because it happened before people just paying him up and shuting up about it...

Really? Any evidence?
Otherwise your accusation is libel, and you are the one that contravenes the law.

Sure, take a look:

That's what I thought, you use words that you don't understand..
Maybe you can go check a definition of extorsion.
As for your screenshot, it is only a display of vested interests, and nowhere close to extorsion.

And happened with namecoin, when they paid him I dunno how many namecoins for him  not to attack the chain. search for it on the forum. Or maybe someone else will show it to you.

Really? Evidence? If it is on the forum, you should be able to find it back.
Until then, STFU.

He also threatened doublec that he would do a 51% attack on solidcoin and double spend at his exchange, which forced doublec to close the solidcoin exchange.

Again, that doesn't qualify as extorsion.

This guy is an admitted criminal. He doesn't even try to hide it.

Under which law?
So far, BCX attacks are using existing features / weaknesses in the protocols that have been put there explicitely by the designer (and the copiers). It is all legit under this framework.
At most, he is guilty of beating people at their own stupid online video game.
That won't go any far in court...

[cryptoxchange]

So, CryptoXchange, what are you going to do when BitcoinEXpress threatens to attack your exchange like he did to others before? Or did it happened already and that's why you are posting this?

BitcoinEXpress never threatened us in any way, though we have told him that we will take any threat by anyone seriously (we know some of the alt-chain people threaten and/or attack each other). Our systems are not amateur, and any attacks against us will be investigated and reported to authorities if appropriate. But again, nobody has threatened us.

BitcoinEXpress did make very clear to us his utter antagonism toward Solidcoin, but no news there.

The only cryptocurrency we fully support and endorse is Bitcoin. As mentioned before, we may experiment with other chains if and when they seem legitimate and appealing (and we may drop them just as fast). We have no interest in Solidcoin at this time, but will be supporting litecoin and namecoin. We consider all alt-chains to be experimental.

We encourage competition between chains, and in our judgement, nothing comes close to the infrastructure, brand recognition, security, and development team of Bitcoin.

Regards,
Crypto X Change

[Raoul Duke]

I'm certainly less of a weasel than you or CH/RS or BCX, that's for sure.
I'm not here to get rich quick by any means, like you guys.

You don't even need to mention it.
With all the time you are spending trolling here, you are a screaming antithesis of effectiveness
You aren't going to get rich that way, and it is not a question of time.

Don't worry, my work gets done, I get paid, I don't need to steal from others, I don't need to take money by force from others. And I'm already rich enough.
Plus, I enjoy trolling the trolls.

So, CryptoXchange, what are you going to do when BitcoinEXpress threatens to attack your exchange like he did to others before? Or did it happened already and that's why you are posting this?

BitcoinEXpress never threatened us in any way, though we have told him that we will take any threat by anyone seriously (we know some of the alt-chain people threaten and/or attack each other). Our systems are not amateur, and any attacks against us will be investigated and reported to authorities if appropriate. But again, nobody has threatened us.

BitcoinEXpress did make very clear to us his utter antagonism toward Solidcoin, but no news there.

The only cryptocurrency we fully support and endorse is Bitcoin. As mentioned before, we may experiment with other chains if and when they seem legitimate and appealing (and we may drop them just as fast). We have no interest in Solidcoin at this time, but will be supporting litecoin and namecoin. We consider all alt-chains to be experimental.

We encourage competition between chains, and in our judgement, nothing comes close to the infrastructure, brand recognition, security, and development team of Bitcoin.

Regards,
Crypto X Change

Thanks for answering.

[Nesetalis]

good luck with the new Exchange!

[Nesetalis]

now I'm just waiting for a debitcard based company backed in Bitcoin and other currencies XD
do currency exchange with bitcoin, (almost no fee!) then buy in your country of choice via normal credit/debit system.

[freequant]

One lesson to learn from this thread : staying away from SolidCoin isn't enough to stand clear from the trolls.
SolidCoin is like CandyMan or BloodyMary : the only fact of mentionning it is a curse that will ultimately doom your thread to yet another stupid death.
Please people, forget this bad memory, and let's do like if this monstruosity never existed in first place.

[FlipPro]

One lesson to learn from this thread : staying away from SolidCoin isn't enough to stand clear from the trolls.
SolidCoin is like CandyMan or BloodyMary : the only fact of mentionning it is a curse that will ultimately doom your thread to yet another stupid death.
Please people, forget this bad memory, and let's do like if this monstruosity never existed in first place.

Thats a little bit melodramatic to say the least  . How many Tenebrix do you hold ?