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 Post subject: Re: Bitcoin
PostPosted: Tue Oct 10, 2017 2:56 pm 
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Back Home with Mammy

Joined: May 2, 2009
Posts: 51
theschmuck wrote:
Mossy_Heneberry wrote:


If those people genuinely believe the words they've written they are mentally ill.


.. or shilling to profit from cryptocurrency exchanges.

https://en.wikipedia.org/wiki/Erik_Voorhees


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 Post subject: Re: Bitcoin
PostPosted: Wed Oct 11, 2017 1:18 pm 
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Too Big to Fail

Joined: May 18, 2009
Posts: 4078
Quote:
World govts fear Bitcoin because they can’t tax it

Cryptocurrencies have captured the attention of investors and world governments alike, especially given Bitcoin’s meteoric rise over the past 12 months. Cybersecurity expert John McAfee believes they may encompass the sum of all fears for governments the world over.
The blockchain technology that cryptocurrencies like Bitcoin and Ethereum are built on helps to solve the problems that plague traditional banking, by cutting out the middleman, thus reducing fees for consumers, while also decentralizing and securing transactions.

With no centralized exchange to control or influence, national authorities around the world will find it increasingly difficult to determine a given citizen's income and thus their income tax owed, undermining a critical source of government revenue, according to technology pioneer and head of MGT Capital Investments John McAfee.


https://www.rt.com/business/406175-gove ... x-revenue/

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 Post subject: Re: Bitcoin
PostPosted: Thu Oct 12, 2017 10:54 am 
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Property Magnate

Joined: Jan 4, 2012
Posts: 565
Reached a new all time high today. This is in the wake of moves to ban exchanges in several countries and upcoming forks.


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 Post subject: Re: Bitcoin
PostPosted: Thu Oct 12, 2017 11:47 am 
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Too Big to Fail

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Posts: 4078
Want to go and live in Vanuata? 43 bitcoins please.

Quote:
BITCOIN NOW BUYS YOU CITIZENSHIP IN PACIFIC NATION OF VANUATU

The Pacific island nation of Vanuatu has become the world’s first county to accept the virtual currency bitcoin for its citizenship program.

The Vanuatu Information Centre (VIC) announced that its Development Support Program (DSP) will allow foreigners to qualify for Vanuatuan citizenship through a one-time payment of $200,000 – or its cryptocurrency equivalent.

At current market prices, this puts the price of citizenship for the so-called Paradise Islands at slightly more than 43 bitcoins.


http://www.newsweek.com/bitcoin-now-buy ... atu-680443

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 Post subject: Re: Bitcoin
PostPosted: Fri Oct 13, 2017 1:39 pm 
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Joined: Oct 22, 2007
Posts: 1649
Mossy_Heneberry wrote:
Quote:
World govts fear Bitcoin because they can’t tax it

Cryptocurrencies have captured the attention of investors and world governments alike, especially given Bitcoin’s meteoric rise over the past 12 months. Cybersecurity expert John McAfee believes they may encompass the sum of all fears for governments the world over.
The blockchain technology that cryptocurrencies like Bitcoin and Ethereum are built on helps to solve the problems that plague traditional banking, by cutting out the middleman, thus reducing fees for consumers, while also decentralizing and securing transactions.

With no centralized exchange to control or influence, national authorities around the world will find it increasingly difficult to determine a given citizen's income and thus their income tax owed, undermining a critical source of government revenue, according to technology pioneer and head of MGT Capital Investments John McAfee.


https://www.rt.com/business/406175-gove ... x-revenue/

So long as Governments insist on you paying your taxes in their currency, I don't really see how Bitcoin is going to affect their revenue. It's like saying that the EU introducing the EURO affected the US Governments ability to collect tax. I'm pretty sure it didnt.

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 Post subject: Re: Bitcoin
PostPosted: Fri Oct 13, 2017 5:57 pm 
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Too Big to Fail

Joined: May 18, 2009
Posts: 4078
tulip wrote:
Mossy_Heneberry wrote:
Quote:
World govts fear Bitcoin because they can’t tax it

Cryptocurrencies have captured the attention of investors and world governments alike, especially given Bitcoin’s meteoric rise over the past 12 months. Cybersecurity expert John McAfee believes they may encompass the sum of all fears for governments the world over.
The blockchain technology that cryptocurrencies like Bitcoin and Ethereum are built on helps to solve the problems that plague traditional banking, by cutting out the middleman, thus reducing fees for consumers, while also decentralizing and securing transactions.

With no centralized exchange to control or influence, national authorities around the world will find it increasingly difficult to determine a given citizen's income and thus their income tax owed, undermining a critical source of government revenue, according to technology pioneer and head of MGT Capital Investments John McAfee.


https://www.rt.com/business/406175-gove ... x-revenue/

So long as Governments insist on you paying your taxes in their currency, I don't really see how Bitcoin is going to affect their revenue. It's like saying that the EU introducing the EURO affected the US Governments ability to collect tax. I'm pretty sure it didnt.



I agree but what if your entire revenue is bitcoin, how will the government know how much to tax you? You would of course still have to pay VAT, DIRT, car tax in government currency.

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 Post subject: Re: Bitcoin
PostPosted: Tue Oct 31, 2017 8:19 pm 
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Location: North Dublin
Will they be able to pay the electricity bills using bitcoin?
No idea how much energy it requires to make and handle paper money.

Bitcoin mining uses more energy than Ecuador.


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 Post subject: Re: Bitcoin
PostPosted: Wed Nov 01, 2017 11:22 am 
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IMF'd

Joined: Sep 13, 2007
Posts: 31337
Location: Tullamore
Mossy_Heneberry wrote:
I agree but what if your entire revenue is bitcoin, how will the government know how much to tax you?

You have ten bitcoins Mr. Mossy? Ah, that'll be, let me pull a figure out of my arse, one meelion euro tax please. Dispute it all you like, we have CAB on the other line...

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 Post subject: Re: Bitcoin
PostPosted: Wed Nov 01, 2017 12:05 pm 
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Posts: 2490
Location: Dublin SE
yoganmahew wrote:
Mossy_Heneberry wrote:
I agree but what if your entire revenue is bitcoin, how will the government know how much to tax you?

You have ten bitcoins Mr. Mossy? Ah, that'll be, let me pull a figure out of my arse, one meelion euro tax please. Dispute it all you like, we have CAB on the other line...

After suffering (and continue to suffer) a revenue audit (still ongoing after 15 months) I can confirm that they treat it as capital gains when you sell them.

And yes it took me about 12 months to explain what they are to the revenue.

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 Post subject: Re: Bitcoin
PostPosted: Wed Nov 01, 2017 9:52 pm 
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Joined: Oct 29, 2007
Posts: 11535
Location: Multiverse
Terra Incognita wrote:
And yes it took me about 12 months to explain what they are to the revenue.


I'll phone them with a tip-off that you hide them in your mattress.


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 Post subject: Re: Bitcoin
PostPosted: Tue Nov 07, 2017 7:51 am 
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Location: North Dublin
newirishman wrote:
Will they be able to pay the electricity bills using bitcoin?
No idea how much energy it requires to make and handle paper money.

Bitcoin mining uses more energy than Ecuador.


Some further thoughts on this

Waste not, want not - Bitcoin: What a waste of resources


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 Post subject: Re: Bitcoin
PostPosted: Mon Nov 13, 2017 8:37 pm 
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Real Estate Developer

Joined: Jun 10, 2010
Posts: 855
Another virtual currency enters the market - "Bitcoin Cash"

https://www.fool.com.au/2017/11/13/bitc ... d-to-know/

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 Post subject: Re: Bitcoin
PostPosted: Mon Nov 13, 2017 8:59 pm 
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Under CAB Investigation

Joined: Jul 10, 2009
Posts: 2190
newirishman wrote:
Will they be able to pay the electricity bills using bitcoin?
No idea how much energy it requires to make and handle paper money.

Bitcoin mining uses more energy than Ecuador.


They could merge with Steorn!


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 Post subject: Re: Bitcoin
PostPosted: Mon Nov 13, 2017 9:20 pm 
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Nationalised

Joined: Oct 29, 2007
Posts: 11535
Location: Multiverse
Quote:
I just logged onto the internet at Comfort Inn about ten minutes ago, and immediately Google Chrome blocked a download and Windows Defender logged a Bitcoin miner.
I travel for work and recently have used internet at Marriott and SPG hotels with no security problems. This is the first time I've ever logged in at a Choice Hotels location. This is also the only hotel brand I've used that doesn't require an initial guest login with your room number or anything like that. You just click "I agree" and off you go, mining coins apparently.
Simple conclusion: Choice Hotels is trying to install Bitcoin miners on their guests' computer immediately upon login, but Chrome and Defender block it immediatey.


https://www.reddit.com/r/technology/comments/7chc70/choice_hotels_just_tried_to_install_a_bitcoin/

Can I ask the tech savvy here, is this malware looking for bitcoin on your computer (to steal), or is it trying to use your computer to mine for it ?


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 Post subject: Re: Bitcoin
PostPosted: Mon Nov 13, 2017 9:37 pm 
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Speculator

Joined: May 23, 2009
Posts: 418
The the one in your example is a miner (unlikely to be the hotel doing it, their network is probably compromised), using your processor and electricity to crunch the numbers for its owner, the Pirate Bay tried to replace their pop-up ads with one a while back but had to roll it back after pissing off their users, the UFC website did it aswell, unclear if that was a cash grab or just a rogue employee. Getting more common, if your pc is running hot and the fans always going you might be infected, Im sure there are vast mining botnets out there just like the ones that send spam.

The other type exists aswell, it will search your pc for wallets, keep an eye on your copy and paste to see if it can grab your private keys, sneaky ones that change the address to something else when you paste a destination before you send coins etc.


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