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Thread: Blockchain

  1. #11
    JohnnyCash
    Guest
    Using bitcoin at purse.io I saved 8% off my first Amazon order and 15% off the second. As you know, Amazon sells just about everything. THANK YOU.

    BTW, bitcoin is controlled by the open source program, miners, & mathematics. Not central bankers. The bitcoin protocol has never been hacked or compromised. There will never be more than 21 million bitcoins. Somehow ... your disinfo makes it all much more valuable.

  2. #12
    My impression is that whenever there is reasonable ignorance, multi-level scams arise. "Revaluation" is a big example.


    The Board speaks on these distributed ledger technologies.



    Imagine that! The Board of Governors inundates people like such a thing is a thing, and people will accept it that something like a distributed ledger can be honorable and honest.
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    Last edited by David Merrill; 04-14-16 at 05:44 PM.

  3. #13

  4. #14
    I believe that it was wise to avoid cryptocurrency.

    Sometimes a new suitor wants to pay me for the Lesson Plan, in cryptocurrency. I request that they convert it back to notes from the US Treasury. They say sure will...

    Then - nothing.

    I gather that primarily cyrptocurrency is a multi-level management scam. The money you get to spend is money that you get from others by promoting cryptocurrency. Your main investment though is very difficult to cash out. I think it already went into your upline.

    It is an impression deduced from three or four similar experiences, I know. But I am very glad to lose the business because the people involved and invested into cryptocurrency protect something I do not trust in. So that seems to always lead to squabbling. I stop the squabbling by refusing to accept cryptocurrency.


    P.S. I know of a suitor who was praising and spouting cryptocurrency and according to his lawful money returns I guess he was at least $100K vested in them. Then he was in financial troubles that as I observe would be solved by cashing out his cryptocurrency accounts.

    - Like he has lost all that money.

    What I find disturbing is how he would likely defend cryptocurrency even after taking that bruising.
    Last edited by David Merrill; 08-22-18 at 04:48 PM.

  5. #15
    Guess he didn't know you cracked the bitcoin algorithm back in 2028.

  6. #16
    Quote Originally Posted by marcel View Post
    Guess he didn't know you cracked the bitcoin algorithm back in 2028.
    If you spend or invest in virtual currencies, it is crucial to understand how virtual currency transactions are treated for tax purposes.

    Notice 2014-21. According to the Notice, virtual currency is treated as property for federal tax purposes.

    https://www.forbes.com/sites/greatsp.../#2f3b2e401346
    "And if I could I surely would Stand on the rock that Moses stood"

  7. #17
    Would you characterize the conversion of dollars into bitcoin as a “constructive fraudulent transfer”?

  8. #18
    Quote Originally Posted by marcel View Post
    Would you characterize the conversion of dollars into bitcoin as a “constructive fraudulent transfer”?
    This is where you get the saying that U.S. dollars are backed by the “full faith and credit” of the U.S. Government.
    "And if I could I surely would Stand on the rock that Moses stood"

  9. #19
    Let's say my company sold an asset for USD$100,000. That company then sold everything and converted assets to bitcoin worth $110,000 and transferred those bitcoins to another entity (company 2) under my control leaving the original company with nothing. Who owes what to the IRS?

  10. #20
    Quote Originally Posted by marcel View Post
    L Who owes what to the IRS?
    Fill it out and find your answer https://www.occ.gov/static/licensing...nt-cert-v2.pdf
    "And if I could I surely would Stand on the rock that Moses stood"

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