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Yorn 125 days ago | link | parent | on: The Face Behind Bitcoin?

Speaking as a sometimes paranoid libertarian with a reasonable amount of Bitcoin, myself, I can say the two things preventing me from cashing out of any portion of it is the likelihood I would be identified and the fact that any sales of it I have to pay taxes on. I purchased a house this year that I could have afforded several times over in Bitcoin, but instead took out a loan just like anyone else.

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anigbrowl 125 days ago | link

I don't understand this. the amount you'd pay in capital gains is probably less than what you're going to pay out in interest, notwithstanding the mortgage interest deduction to your taxes (in which the government subsidizes you at the expense of other taxpayers).

I mean, perhaps you ran the numbers and it works out better financially, but I get the impression from your post that you don't want to pay any taxes on it on principle, which seems economically irrational.

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Yorn 125 days ago | link

My accountant did not think it qualified as capital gains. I guess the IRS has a specific designation for what can be considered for that.

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runeks 123 days ago | link

> [...] the two things preventing me from cashing out of any portion of it is the likelihood I would be identified and the fact that any sales of it I have to pay taxes on.

Do you think this will change?

If not, then your unspent bitcoins are worth exactly $0 (ie. if you don't spend them they might as well be worth nothing). Or are you waiting for something?

Granted, I don't know who you are, and how important it is for you not to be identified (by whom?).

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Yorn 125 days ago | link | parent | on: Tell HN: Meeting Satoshi

What cellphone app allowed you to buy and sell Bitcoins in July 2011? I didn't think QR codes were regularly used till late 2011/early 2012.

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jnbiche 125 days ago | link

Yeah, there were several floating around at that time, as I recall. For example, Bitpay started up around that time, and they had a QR-code-enabled mobile app when they launched.

The first commit of bitcoin-wallet (most popular Android wallet presently) was March 8, 2011: https://github.com/schildbach/bitcoin-wallet

Here's another from that time: https://github.com/barmstrong/bitcoin-android

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Yorn 125 days ago | link

Thanks. I do remember using that one or one similar in maybe Fall of that year. I believe the first ones actually downloaded the entire Blockchain which was maybe a gig or two at the time. The one I had became unwieldy enough that I eventually just uninstalled it.

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It also uses "robbery" in a really unbusiness-like way. Still, there's only a few things here and there that are kind of out-of-line, and might be of the sort I'd expect for a intended-to-be-internal document.

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krapp 135 days ago | link

Maybe, maybe not.

But Mt. Gox isn't a business. It's an unregulated exchange, so there's really no point in taking for granted that they would meet some standard of professionalism which by definition they don't have to.

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burnte 135 days ago | link

It most certainly is a business. They have employees, charge fees, and make a profit (or are supposed to). Exchanges are businesses, and MtGox is most certainly both an exchange and a business.

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krapp 135 days ago | link

Fair enough I guess, but I could have an office with a secretary at the front desk and charge people money to extract their teeth, yet that wouldn't actually make me a dentist.

I meant Mt.Gox isn't a business in the sense that businesses, typically, have regulatory frameworks they have to follow, and standards to meet. Particularly when they deal with currency.

Maybe I should have said there's no reason to expect them to act like professionals.

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icebraining 135 days ago | link

I could have an office with a secretary at the front desk and charge people money to extract their teeth, yet that wouldn't actually make me a dentist.

Sure you would, just not a licensed one.

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mcdougle 135 days ago | link

They're a business. Just not a good one.

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I'm thinking this list is from closer to a year ago, I changed my password shortly after the MtGox hack last year and this hash is for my old password that was compromised during that time period.

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elektronaut 762 days ago | link

My password is in the dump, and it was changed mid October 2010. I remember because I changed all my passwords when my laptop was stolen.

The MtGox hack was in June 2011.

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QR codes or something like it will eventually be the way Dwolla and Paypal do mobile-to-mobile transactions. I've thought of a mock up of just using ONLY QR-like codes to transfer money between two people in the same room, it would be fast and easy and assuming you used your Dwolla pin as you confirmed the amount you were spending/charging, it would work perfectly.

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