Bitcoin Forum
December 05, 2016, 08:55:48 PM *
News: To be able to use the next phase of the beta forum software, please ensure that your email address is correct/functional.
 
   Home   Help Search Donate Login Register  
Poll
Question: Will you support Gavin's new block size limit hard fork of 8MB by January 1, 2016 then doubling every 2 years?
1.  yes
2.  no

Pages: « 1 ... 435 436 437 438 439 440 441 442 443 444 445 446 447 448 449 450 451 452 453 454 455 456 457 458 459 460 461 462 463 464 465 466 467 468 469 470 471 472 473 474 475 476 477 478 479 480 481 482 483 484 [485] 486 487 488 489 490 491 492 493 494 495 496 497 498 499 500 501 502 503 504 505 506 507 508 509 510 511 512 513 514 515 516 517 518 519 520 521 522 523 524 525 526 527 528 529 530 531 532 533 534 535 ... 1560 »
  Print  
Author Topic: Gold collapsing. Bitcoin UP.  (Read 1804772 times)
Adrian-x
Legendary
*
Offline Offline

Activity: 1330



View Profile
July 18, 2014, 07:49:01 PM
 #9681

everyone needs to read the NYDFS document carefully, formulate your own opinions, and submit any concerns or change proposals to Lawsky as soon as possible.  NY is an important and pivotal test case concerning regulation:

http://www.dfs.ny.gov/about/press2014/pr1407171-vc.pdf
I can't muster much more than a "meh" reaction to the document.

I actually hope some of the worse provisions, like forcing licenced companies to hold their profits and retained earnings in USD, stay in, because when Bitcoin instantly routes around that requirements the lulz will be epic.

If that provision survives the review process, I'll write a "Tax Avoidance for Dummies" article to explain exactly how to bypass it for the benefit of any Bitcoin company owner who might be deficient in imagination.

I'm sure Circle plan to have an insurance reserve made up of bitcoin profits, the reserve requirements and risk profile will just change with profitability allowing them to keep there bitcoin profits. 

Thank me in Bits 12MwnzxtprG2mHm3rKdgi7NmJKCypsMMQw
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1480971348
Hero Member
*
Offline Offline

Posts: 1480971348

View Profile Personal Message (Offline)

Ignore
1480971348
Reply with quote  #2

1480971348
Report to moderator
1480971348
Hero Member
*
Offline Offline

Posts: 1480971348

View Profile Personal Message (Offline)

Ignore
1480971348
Reply with quote  #2

1480971348
Report to moderator
1480971348
Hero Member
*
Offline Offline

Posts: 1480971348

View Profile Personal Message (Offline)

Ignore
1480971348
Reply with quote  #2

1480971348
Report to moderator
justusranvier
Legendary
*
Offline Offline

Activity: 1400



View Profile WWW
July 18, 2014, 07:56:34 PM
 #9682

I'm sure Circle plan to have an insurance reserve made up of bitcoin profits, the reserve requirements and risk profile will just change with profitability allowing them to keep there bitcoin profits. 
Think of all the tricks companies use to make their profits show up in, for example Ireland, instead of the US.

Lots of ways to do it, but the problem is that bringing the dollars back from Ireland can be tricky because those dollars need to be moved through the legacy banking system.

Bitcoin doesn't have that problem.

Suppose you have a business that's licenced in NY, but you want to keep all your profits in BTC.

No problem - in addition to your US corporation, register a corporation in Bermuda (or other suitable jurisdiction) that holds or purports to hold some kind of IP.

Have the US corporation license the IP from the foreign corporation, with the fees to be paid in BTC, at a rate that coincidentally means the US company is barely or negatively profitable (this is how Hollywood makes sure all its movies lose money no matter how successful they are).

Foreign company accepts the license fees and pays them out to shareholders as dividends. No interaction with the legacy banking system is required.

Tax avoidance FTW.
molecular
Donator
Legendary
*
Offline Offline

Activity: 2128



View Profile
July 18, 2014, 08:09:45 PM
 #9683

Bitcoin and the history of money:

https://www.youtube.com/watch?v=IP0jCjyrew8

Well-done in my mind since it does away with 2 widespread myths:

  • money emerged to replace barter transactions (wrong, it emerged to track debt)
  • gold has intrinsic value

PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0  3F39 FC49 2362 F9B7 0769
molecular
Donator
Legendary
*
Offline Offline

Activity: 2128



View Profile
July 18, 2014, 08:14:10 PM
 #9684


I still value the overstock story way higher, because that guy is really trying to trickle bitcoin acceptance down the supply chain.

Now if dell did that... I'd be really excited.

PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0  3F39 FC49 2362 F9B7 0769
molecular
Donator
Legendary
*
Offline Offline

Activity: 2128



View Profile
July 18, 2014, 08:17:35 PM
 #9685

dammit I just went with HP, every DELL I have ever had has performed flawlessly to EOL

One criticism I have for dell: they used to (still do) use custom power supplies and motherboards with 2 wires on the pinout switched, otherwise all ATX standard. Result after trying to replace a power supply in one of these machine: a flash, a bang... then smelly electronics smoke and a brand-new machine from a manufacturer actually honoring standards.

PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0  3F39 FC49 2362 F9B7 0769
cypherdoc
Legendary
*
Offline Offline

Activity: 1764



View Profile
July 18, 2014, 08:23:56 PM
 #9686


I still value the overstock story way higher, because that guy is really trying to trickle bitcoin acceptance down the supply chain.

Now if dell did that... I'd be really excited.

well, i get that but when Dell's revenues are 34x higher than Overstock's, sit up.
cypherdoc
Legendary
*
Offline Offline

Activity: 1764



View Profile
July 18, 2014, 08:25:55 PM
 #9687

I'm sure Circle plan to have an insurance reserve made up of bitcoin profits, the reserve requirements and risk profile will just change with profitability allowing them to keep there bitcoin profits. 
Think of all the tricks companies use to make their profits show up in, for example Ireland, instead of the US.

Lots of ways to do it, but the problem is that bringing the dollars back from Ireland can be tricky because those dollars need to be moved through the legacy banking system.

Bitcoin doesn't have that problem.

Suppose you have a business that's licenced in NY, but you want to keep all your profits in BTC.

No problem - in addition to your US corporation, register a corporation in Bermuda (or other suitable jurisdiction) that holds or purports to hold some kind of IP.

Have the US corporation license the IP from the foreign corporation, with the fees to be paid in BTC, at a rate that coincidentally means the US company is barely or negatively profitable (this is how Hollywood makes sure all its movies lose money no matter how successful they are).

Foreign company accepts the license fees and pays them out to shareholders as dividends. No interaction with the legacy banking system is required.

Tax avoidance FTW.

except that every material change in business model from original application needs to submit to further review and approval.
justusranvier
Legendary
*
Offline Offline

Activity: 1400



View Profile WWW
July 18, 2014, 08:37:11 PM
 #9688

except that every material change in business model from original application needs to submit to further review and approval.
So don't change the business model from the original application.

Licensing IP from a foreign company is just one example of how companies already shift profits around internationally.
cypherdoc
Legendary
*
Offline Offline

Activity: 1764



View Profile
July 18, 2014, 08:41:40 PM
 #9689

except that every material change in business model from original application needs to submit to further review and approval.
So don't change the business model from the original application.

Licensing IP from a foreign company is just one example of how companies already shift profits around internationally.

maybe you need to go into the consulting business.
cypherdoc
Legendary
*
Offline Offline

Activity: 1764



View Profile
July 18, 2014, 08:46:19 PM
 #9690

this kinda reminds of the proliferation of mining nodes worldwide:

Growth for Bitcoin ATMs

http://www.coindesk.com/7-charts-show-year-growth-bitcoin-atms/

bitrider
Full Member
***
Offline Offline

Activity: 232


View Profile
July 18, 2014, 10:18:49 PM
 #9691

At this point, most of my friends are neutral or positive about Bitcoin... EXCEPT the academic economists. I think the fact that Bitcoin was not invented within the sphere of academic economics really bothers them (not that they would ever put it that way...)

Mark Twain nailed this one: "It ain't what you don't know that gets you into trouble. It's what you know for sure that just ain't so."

Hayek phrased the problem more more succinctly as "the pretense of knowledge."

It's also the same reason people often lose their car keys: they know for sure they already looked somewhere that they actually haven't yet.

Money experts will be the last to come on board, because they think they already know what money is.

+1

+2
Pruden
Sr. Member
****
Offline Offline

Activity: 457

Sirius Iberia - Nos tomamos el Bitcoin en serio


View Profile
July 18, 2014, 10:22:29 PM
 #9692

Bitcoin and the history of money:

https://www.youtube.com/watch?v=IP0jCjyrew8

Well-done in my mind since it does away with 2 widespread myths:

  • money emerged to replace barter transactions (wrong, it emerged to track debt)

This is the second time in a few days that I read this. Could you point to studies on the matter? I like that not even Austrians seem to be aware of this.

molecular
Donator
Legendary
*
Offline Offline

Activity: 2128



View Profile
July 18, 2014, 10:39:42 PM
 #9693

Bitcoin and the history of money:

https://www.youtube.com/watch?v=IP0jCjyrew8

Well-done in my mind since it does away with 2 widespread myths:

  • money emerged to replace barter transactions (wrong, it emerged to track debt)

This is the second time in a few days that I read this. Could you point to studies on the matter? I like that not even Austrians seem to be aware of this.

Can't point to any study, but I read it on two occasions. One was when reading the german translation of Debt: The First 5,000 Years

Graeber explains the issue quite convincingly, citing many examples (very strange ones among them). I used to believe the barter-story, but after reading (parts of, I haven't finished it) that book, I'm now convinced money really came about as a means to track debt in groups of increasing size and/or accross groups.

PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0  3F39 FC49 2362 F9B7 0769
marcus_of_augustus
Legendary
*
Offline Offline

Activity: 2086



View Profile
July 18, 2014, 11:00:21 PM
 #9694

Almost certainly the gift economy of small familial based tribes preceded barter and still is in widespread existence today, e.g. your father gives you some tomatoes he grew himself and you want to repay that by helping him with a ride to the airport, but is that really a debt as there is no expectation of repayment? ... whether money originated as a mechanism to track "debts" is a big stretch from familial gift economy.

justusranvier
Legendary
*
Offline Offline

Activity: 1400



View Profile WWW
July 19, 2014, 02:19:47 AM
 #9695

maybe you need to go into the consulting business.
Too much work.

I'll just wait for them to finalize their framework and then publish methods for breaking it.
Adrian-x
Legendary
*
Offline Offline

Activity: 1330



View Profile
July 19, 2014, 03:35:50 AM
 #9696

Almost certainly the gift economy of small familial based tribes preceded barter and still is in widespread existence today, e.g. your father gives you some tomatoes he grew himself and you want to repay that by helping him with a ride to the airport, but is that really a debt as there is no expectation of repayment? ... whether money originated as a mechanism to track "debts" is a big stretch from familial gift economy.

It just happens to be what the empirical evidence suggests. Barter and then money evolved where there were relationships of low trust, your community was typically a high trust relationship so no need for money or barter.

Thank me in Bits 12MwnzxtprG2mHm3rKdgi7NmJKCypsMMQw
Adrian-x
Legendary
*
Offline Offline

Activity: 1330



View Profile
July 19, 2014, 03:44:03 AM
 #9697

This is the second time in a few days that I read this. Could you point to studies on the matter? I like that not even Austrians seem to be aware of this.

It's going to have to be forced down there throats, it shakes Mises's regression theorem at the core. At first I couldn't accept it but the earlier linked video sugar coats it and makes it taste nice.

Thank me in Bits 12MwnzxtprG2mHm3rKdgi7NmJKCypsMMQw
cypherdoc
Legendary
*
Offline Offline

Activity: 1764



View Profile
July 19, 2014, 05:28:27 AM
 #9698

You gotta be impressed. We have eyes everywhere:

SBIRS is a network of four geosynchronous and two elliptically orbiting infrared satellites, and is run by the US Space Command at Los Angeles Air Force Base in California.

http://www.newscientist.com/article/dn25923-us-satellite-may-have-located-ukraine-missile-launch.html#.U8n_Jmlycuo
zeetubes
Sr. Member
****
Offline Offline

Activity: 371


View Profile
July 19, 2014, 06:33:13 AM
 #9699

You gotta be impressed. We have eyes everywhere:

SBIRS is a network of four geosynchronous and two elliptically orbiting infrared satellites, and is run by the US Space Command at Los Angeles Air Force Base in California.

http://www.newscientist.com/article/dn25923-us-satellite-may-have-located-ukraine-missile-launch.html#.U8n_Jmlycuo

The US government seems a little too keen to pin the blame on the Russians, but under the circumstances I guess I can see why. What are the odds that Malaysia Airlines loses two 777s in the space of six months and both under suspicious circumstances? Probably just an unpleasant coincidence but I wonder if the Malaysian government has stepped on anyone's toes recently.
User705
Hero Member
*****
Offline Offline

Activity: 588



View Profile
July 19, 2014, 06:36:52 AM
 #9700

You gotta be impressed. We have eyes everywhere:

SBIRS is a network of four geosynchronous and two elliptically orbiting infrared satellites, and is run by the US Space Command at Los Angeles Air Force Base in California.

http://www.newscientist.com/article/dn25923-us-satellite-may-have-located-ukraine-missile-launch.html#.U8n_Jmlycuo

The US government seems a little too keen to pin the blame on the Russians, but under the circumstances I guess I can see why. What are the odds that Malaysia Airlines loses two 777s in the space of six months and both under suspicious circumstances? Probably just an unpleasant coincidence but I wonder if the Malaysian government has stepped on anyone's toes recently.
If you want conspiracy theories check out which airlines avoided Ukraine and which ones didn't.  I'll save you the suspense.  British Airways and Air France did.  Germanys Lufthansa didn't. 
Pages: « 1 ... 435 436 437 438 439 440 441 442 443 444 445 446 447 448 449 450 451 452 453 454 455 456 457 458 459 460 461 462 463 464 465 466 467 468 469 470 471 472 473 474 475 476 477 478 479 480 481 482 483 484 [485] 486 487 488 489 490 491 492 493 494 495 496 497 498 499 500 501 502 503 504 505 506 507 508 509 510 511 512 513 514 515 516 517 518 519 520 521 522 523 524 525 526 527 528 529 530 531 532 533 534 535 ... 1560 »
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!