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Bad Munki
Nov 4, 2008

We're all mad here.


Three Olives posted:

Do you really think they would report the counterfeit notes? There is no way they don't try to pass them off to some other sucker.

I imagine it went something like this:

"Here's your filthy fiat for those bitcoins."
"These are counterfeit."
"Whoops, you caught me. Half price, then?"
"Deal."

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SpelledBackwards
Jan 7, 2001

I found this image on the Internet, perhaps you've heard of it? It's been around for a while I hear.

Bad Munki posted:

I imagine it went something like this:

"Here's your filthy fiat for those bitcoins."
"These are counterfeit."
"Whoops, you caught me. Half price, then?"
"Deal."
You forgot the part in the middle where they both agree that the problem with fiat is that it is counterfeitable, and THEN they complete the transaction anyway.

eSports Chaebol
Feb 22, 2005

Support the International Campaign to Ban Spider Mines

Three Olives posted:

Do you really think they would report the counterfeit notes? There is no way they don't try to pass them off to some other sucker.

I also imagine they would be the type to think that knowingly passing counterfeit notes you received but didn't print is a minor crime rather than a federal felony.

Weatherman
Jul 30, 2003

SCREECH


Bitcoin: backed by math the USD counterfeit fiat

KnifeWrench
May 25, 2007

Practical and safe.

eSports Chaebol posted:

I also imagine they would be the type to think that knowingly passing counterfeit notes you received but didn't print is a minor crime rather than a federal felony.

"No, you see, Secret Service Agent, this counterfeit note is backed by the same thing as real money (NOTHING ), so I can't be held accountable for thinking it had equal value."

Angela Christine
Oct 4, 2008



It's not like fiat is Sound Money anyway. Bills printed by the Fed are just as illegitimate as stuff printed by a random citizen.

fermun
Nov 4, 2009


I found the post about it.

...! posted:

Whitey 1d in UK 11 a1
A dangerous new scamming trend? £15,000 too close

So it appears that unfortunately scammers have changed their tactics. I have been advised by police not to disclose the username or details of the person concerned until their investigation is complete but I am ok to disclose the story as a warning to others. Today I went to meet a buyer who was looking for £15,000 worth of bitcoins and wanted to pay in cash but this particular user had a good buyer history so although cautious I agreed to meet him in London in a place I knew there would be CCTV and security for my own safety. Arriving there today in a public place, all went fine initially from chatting with him but when I pulled out a quick form to comply with AML‘s he seemed very uncomfortable which although I didn’t show it, it sent alarm bells ringing in my head as he kind of covered his ID whilst in terrible handwriting filled out the form and done a completely unreadable signature looking nothing like the name. At this point, I was very tempted to call the deal off simply because my gut instinct was really telling me to back out of this but he brought up he had to withdraw another £200 from his bank and so I asked him what bank he was with, which was Nationwide, which I am too, so I went with him to the branch with the cash and forms etc in my bag and said I would just sit in the branch since it had air conditioning and was only 5 stores away. In my head at this point, I was trying to get into the branch and see if I could overhear the name he was withdrawing from and also to see if he actually owned the card he had in his hand so I could match the details up with what was on the form.

Upon arrival at the branch, he handed his card over and the bank teller gave everything a quick glance and asked him for further ID and a security check so whilst he done that, I thought I would ask the teller next to him who was free if they could put it on their cash counting machine and showed all the relevant documentation. The cash went behind the counter when she agreed and put it straight on the machine without even looking at the documents surprisingly. Immediately as this happened, the male buying the bitcoins said to me “What are you doing?” looking terrified and visibly sweating and shaking and I was absolutely certain something was very wrong at this point and before I could turn to the cashier and ask her to keep hold of the documents & cash and call security and the police for me (I was planning to write it on the piece of paper in my hand to be subtle), I heard a loud beeping sound from behind the desk which was the cash machine, rejecting every note in the pile because they were counterfeit notes, £15,000 worth of them. As you can imagine, we had 3 security guards onto us in seconds and police arrived only 2 minutes later and as myself and the other male sat there in handcuffs, the police began to ask questions to me and the other male was taken into another room inside the branch.

Fortunately this day I had my CSV dumps of recent transactions, a letter from my HMRC communications recently as per my other post and also a bank statement to verify the recent transactions, plus copies of the emails I had exchanged with the male concerned as I bring them to every meeting in my bag for reference purposes if anything arises. Soon enough, having went back to the original place we met and reviewing CCTV footage of the whole thing, I was released but they kept everything in my bag, all the money of course and frozen my accounts whilst they investigate which I complied with voluntarily. The male who passed the counterfeit notes has been taken to the police station and will be in court tomorrow and I was advised by the Inspector he will probably be referred to the crown court on the matter and is being held in custody until his trial.

The bank and police were both present for this and the bank strongly recommended I be careful in future and transactions that large can be run through the bank if need be and they can be the third party to sign it and check everything out for £35, which will completely cover me for the AML‘s over £10,000 and the buyer doesn’t need to go on the bank records but the bank will verify the ID is real for me in some branches too. Whilst I was there I also was given a 10 pack of pens to check notes with for future deals and police have asked me to cease trading until this case is resolved and be prepared to be asked to come to court to present testimony if required.

Again I can't name and shame the individual due to a police request, but for what it is worth, that is the story and lesson I have learned from today and despite the many big deals I have done in the past and the many shady characters, this one has really rattled me up.

So there you go. It probably happens with some regularity, though who the hell goes around selling something for that much in cash and not wanting to do it at a bank instead.

Sydney Bottocks
Oct 15, 2004

Bottocks. Neither one thing nor the other.

Angela Christine posted:

It's not like fiat is Sound Money anyway. Bills printed by the Fed are just as illegitimate as stuff printed by a random citizen.

Indeed, counterfeit currency is just another way to stick it to "The Man" if you stop and think about it. Bitcoin is just a more superior way of doing so because it's backed by math. Now, if you'll excuse me, I have to wolf down a Hot Pocket before my MRA group's meeting.

FrozenVent
May 1, 2009
I love cruise ships and they have never ever done anything wrong ever and are 100% correct always because I worked on one once.

fermun posted:

I found the post about it.


So there you go. It probably happens with some regularity, though who the hell goes around selling something for that much in cash and not wanting to do it at a bank instead.

Well banks are evil, you see, but they're very helpful in large transaction. Bitcoin allows you to be your own bank. So you don't need banks.

Except

Lolie
Jun 4, 2010


Three Olives posted:

Do you really think they would report the counterfeit notes? There is no way they don't try to pass them off to some other sucker.

Off course they would try to pass them on, but they'd probably mention it on the boards as well - I just wonder how many of them would even detect counterfeit notes on the spot and how many wouldn't realise they'd been conned until much later.

woozle wuzzle
Mar 10, 2012



Three-Phase posted:

So any news on Pirate? Is there a warrant out for him yet?
Nothing yet.

If he actually showed up to the deposition, it could take a full week to show up. So alas, we'll just be bouncing in our seats until then.

Bad Munki
Nov 4, 2008

We're all mad here.


woozle wuzzle posted:

Nothing yet.

If he actually showed up to the deposition, it could take a full week to show up. So alas, we'll just be bouncing in our seats until then.

I'm positively giddy with anticipation.

I wish there was a way to subscribe to a certain user's posts in a certain thread, then I'd know the moment you updated us.

Leperflesh
May 17, 2007

Dwarf tits for the blood god!

SPERG FOR THE SPERG GOD


Bad Munki posted:

I wish there was a way to subscribe to a certain user's posts in a certain thread, then I'd know the moment you updated us.

I see you. I see. Don't think I don't. I know what this is really about.

Bad Munki
Nov 4, 2008

We're all mad here.


Leperflesh posted:

I see you. I see. Don't think I don't. I know what this is really about.

I already solved the problem YOU present. I just need a way to fine-tune it for this more specific case.

Powershift
Nov 23, 2009


No Gravitas posted:

Sure, you can do that. That is a valid reason.

Still not the smartest thing in a board with many chips, likely running at overclocked speeds with poor cooling.

Hah, cooling, what the gently caress do you think this is, AMD?

The best part is, the chips are soldered to the boards, they seemed to have marked bad boards with stickers to be repaired by hand, then skipped the step of repairing them.

http://imgur.com/a/t3AKx

edit:

quote:

PSA: DO NOT fire up your Bitfury without looking over *all* of your solder connections.

I know the first thing i want to do with my $8,000 electronic device is pull out the magnifying glass and inspect every connection

Mosaic Perception
Sep 18, 2009



Ask me about the Austin PUA scene and how to avoid rape convictions!

GBS EXILE

Three-Phase posted:

Just remember you can always use LocalBitcoins to get some cash... oh wait...

When I sell bitcoins in person I get the money and I bring counterfeit markers along with me. If anyone has an issue with that they can get their coins elsewhere. This really is an example of just not taking precaution. Also helps if you make sure they drive there (which I always do).

Bad Munki
Nov 4, 2008

We're all mad here.


Powershift posted:

http://imgur.com/a/t3AKx

edit:


I know the first thing i want to do with my $8,000 electronic device is pull out the magnifying glass and inspect every connection

Wow, that's some poo poo fab/QC.

Three-Phase
Aug 5, 2006

Turbine trip
Reactor trip

Bad Munki posted:

Wow, that's some poo poo fab/QC.

Wow, did they ship the boards in that condition? No testing before shipping?

Three-Phase fucked around with this message at Sep 6, 2013 around 01:06

Powershift
Nov 23, 2009


Three-Phase posted:

Wow, did they ship the boards in that condition? No testing before shipping?

Of course they shipped them like that. Quality control takes time, and time is money buttcoins.

Darth123123
Jan 26, 2006



Mosaic Perception posted:

When I sell bitcoins in person I get the money and I bring counterfeit markers along with me. If anyone has an issue with that they can get their coins elsewhere. This really is an example of just not taking precaution. Also helps if you make sure they drive there (which I always do).

What do you do when they have a gun?

fe: I mean I don't have to deal with this at my bank.*

*As a normal course of action.

Three Olives
Apr 10, 2005

Ummmm....

I kind of get the impression that the lovely quality of some of this hardware is part of it's appeal. This is bleeding edge stuff, if you have to wait for it to be all polished with consumer friendly like things like quality control, safe design and actually working you have missed the early adopter bonus. If things were actually working completely right that means too much time was wasted polishing it costing you precious buttcoin so some dumb newbie would have equal footing with you.

Ogive
Dec 22, 2002

It's grim but never dubious as motives go.

Bad Munki posted:

Wow, that's some poo poo fab/QC.

Especially since pulling out a magnifying glass / microscope and going over at least one of the boards is SOP for a new run. Doubly so for a new hardware rev. Those mistakes smack of terrifying incompetence.

EDIT: at the manufacturing level. any competent HW engineer has people who do this.

Ogive fucked around with this message at Sep 6, 2013 around 01:18

etalian
Mar 20, 2006


Ogive posted:

Especially since pulling out a magnifying glass / microscope and going over at least one of the boards is SOP for a new run. Doubly so for a new hardware rev. Those mistakes smack of terrifying incompetence.

EDIT: at the manufacturing level. any competent HW engineer has people who do this.

you expected competence from something that targets the bitcoin community?

Cursed Lumberjack
Nov 14, 2006
A rather unfortunate logger indeed.

Mosaic Perception posted:

When I sell bitcoins in person I get the money and I bring counterfeit markers along with me. If anyone has an issue with that they can get their coins elsewhere. This really is an example of just not taking precaution. Also helps if you make sure they drive there (which I always do).

Could you explain to us non-captains of industry what driving to a Bitcoin transaction has to do with being trustworthy? I mean I realize that poors are sub-humans not worth our time but I just want to hear it in your words.

Mosaic Perception
Sep 18, 2009



Ask me about the Austin PUA scene and how to avoid rape convictions!

GBS EXILE

Darth123123 posted:

What do you do when they have a gun?

fe: I mean I don't have to deal with this at my bank.*

*As a normal course of action.

Haven't run into that yet but I also don't meet people in dark alleyways. Part of what I came to learn from doing this (I was nervous the first time. I met a guy in a walmart parking lot late at night and got in his car to do the deal...for $800) is that most of the people who are buying bitcoins are not intimidating people. I'm not super intimidating myself but compared to what I've seen I am much more so than them. I also live in Austin so I could be dealing with a different type of person on average than other places. Anyway...I typically meet at a busy starbucks or something, I show them the bitcoins in my account on my phone, I take and count the money/check random bills with my marker, and then send them the coins.

The two types of people I run into most are 1) Just getting into bitcoins and they're way more nervous than I am and 2) A hoarder who has no issues giving you his worthless fiat for your wonderful currency of the future.

I guess if someone wanted to rob me at gunpoint at a super busy starbucks they could do so but it would be a terrible idea on their part (not to say people don't execute terrible ideas). The risk seems no higher than any other face to face deal from my experience so far. In many ways it's less so because the people you're dealing with are timid nerdy types who like to own guns, and post about their murder fantasies, but probably wouldn't do anything if you robbed them. I look nothing like that and I think if anyone met me intending to take advantage of someone like that they'd probably change their mind and look for another target (like the guy who got robbed by the guy running after he showed in flip flops and made zero effort to protect himself against such a thing).

quote:

Could you explain to us non-captains of industry what driving to a Bitcoin transaction has to do with being trustworthy? I mean I realize that poors are sub-humans not worth our time but I just want to hear it in your words.
Has nothing to do with being trustworthy Mr. Condescension. It's the fact that if they run off I can wait at their car for them to come back and if they just run to their car well it's easy to call the cops immediately and give them the license plate (also they're honestly less likely to rob you if you can see and have access to their vehicle).

quote:

Once again, the importance of context is demonstrated.
Well played.

Mosaic Perception fucked around with this message at Sep 6, 2013 around 01:31

FrozenVent
May 1, 2009
I love cruise ships and they have never ever done anything wrong ever and are 100% correct always because I worked on one once.

Mosaic Perception posted:

(I was nervous the first time I met a guy in a walmart parking lot late at night and got in his car to do the deal...for $800)

Once again, the importance of context is demonstrated.

Darth123123
Jan 26, 2006



Mosaic Perception posted:

Haven't run into that yet but I also don't meet people in dark alleyways. Part of what I came to learn from doing this (I was nervous the first time. I met a guy in a walmart parking lot late at night and got in his car to do the deal...for $800) is that most of the people who are buying bitcoins are not intimidating people. I'm not super intimidating myself but compared to what I've seen I am much more so than them. I also live in Austin so I could be dealing with a different type of person on average than other places. Anyway...I typically meet at a busy starbucks or something, I show them the bitcoins in my account on my phone, I take and count the money/check random bills with my marker, and then send them the coins.

The two types of people I run into most are 1) Just getting into bitcoins and they're way more nervous than I am and 2) A hoarder who has no issues giving you his worthless fiat for your wonderful currency of the future.

I guess if someone wanted to rob me at gunpoint at a super busy starbucks they could do so but it would be a terrible idea on their part (not to say people don't execute terrible ideas). The risk seems no higher than any other face to face deal from my experience so far. In many ways it's less so because the people you're dealing with are timid nerdy types who like to own guns, and post about their murder fantasies, but probably wouldn't do anything if you robbed them. I look nothing like that and I think if anyone met me intending to take advantage of someone like that they'd probably change their mind and look for another target (like the guy who got robbed by the guy running after he showed in flip flops and made zero effort to protect himself against such a thing).
Has nothing to do with being trustworthy Mr. Condescension. It's the fact that if they run off I can wait at their car for them to come back and if they just run to their car well it's easy to call the cops immediately and give them the license plate (also they're honestly less likely to rob you if you can see and have access to their vehicle).
Well played.

Well this sounds logical and easier than banking and fiat.

Lolie
Jun 4, 2010


I just checked out reddit because the other forum was down and they seem to be all enthusiastic about the possibility of e-Bay accepting Bitcoin.

I'm not sure whether it happens in the US (I don't see why it wouldn't), but here in Australia the Taxation Office (and Centrelink - the statutory authority which handles income support payments - too, I believe) requires e-Bay to give them a list of the names and transaction volumes of all sellers whose sales are over a certain threshold (it's been reported as $20,000 for the financial year just gone - it used to be higher) and has done so for years. e-Bay accepting Bitcoin as a payment method means those transactions would no longer be under the radar.

On another note, it will be interesting to see whether there's an upswing in Bitcoin adoption here after tomorrow's federal election. We're absolutely screwed for the next few years no matter who wins and I can see that reality leading to increasing numbers of people trying to "get their share" by attempting to operate outside the system (can't say I blame them given the current political climate here right now).

Lolie fucked around with this message at Sep 6, 2013 around 01:49

Cursed Lumberjack
Nov 14, 2006
A rather unfortunate logger indeed.

Mosaic Perception posted:

Has nothing to do with being trustworthy Mr. Condescension. It's the fact that if they run off I can wait at their car for them to come back and if they just run to their car well it's easy to call the cops immediately and give them the license plate (also they're honestly less likely to rob you if you can see and have access to their vehicle).

Yeah it has nothing to do with being trustworthy, just the fact that if they aren't trustworthy I can gently caress them over (as long as they didn't steal a car or fabricate a license plate number.) And of course we all know that anyone committing fraud with Bitcoin would never stoop so low as to do that...

Mosaic Perception
Sep 18, 2009



Ask me about the Austin PUA scene and how to avoid rape convictions!

GBS EXILE

Cursed Lumberjack posted:

Yeah it has nothing to do with being trustworthy, just the fact that if they aren't trustworthy I can gently caress them over (as long as they didn't steal a car or fabricate a license plate number.) And of course we all know that anyone committing fraud with Bitcoin would never stoop so low as to do that...

Life isn't a movie guy. Bad poo poo happens but you're being completely irrational by making your decisions (or judgments over my decisions) based on these fringe case scenarios.

quote:

Well this sounds logical and easier than banking and fiat.
I wouldn't ever argue that. Bitcoins are mostly stupid and serve pretty much no good legal purposes.

Sydney Bottocks posted:

I don't understand the point of meeting up to exchange bitcoin for filthy fiat in the first place, I thought part of the appeal of it was that you could exchange it for money "quickly" and "safely" without ever having to sully yourself by interacting with another human being in the flesh.

Besides, given bitcoiners' amazing propensity for getting ripped off at the drop of a hat, I'd have figured that if they were going to lose all their libertarian fantasy money, they'd prefer to do it from the comfort of their own home, instead of having to get all sweaty trying (and failing) to chase down some guy who pulled the ol' switcheroo on them at the local Starbucks.
Some people trust the idea of meeting face to face more than others but mostly it's just that bitcoins (whether you're buying or selling) are becoming increasingly more difficult to move. There's also the whole "No paper trail because I'm not reporting these sales to the irs/am using the coins I am buying to buy drugs from silk road to trade for child porn to give to my pedophile hitman so he can murder my whore feminist wife because that bitch won't stay in her place" (note these thought are not an endorsement and do not reflect my own feelings or activities. I shouldn't really have to clarify that but people are quick to assign the dumbest and/or most distasteful positions/intentions possible to my posts since I don't spend all my time ranting about how awful bitcoins are and how nothing good could ever come from being involved with them).

quote:

The first time any of my friends got into drugs and went to make a purchase they said they went to a local cinema, met up with a guy they had only talked to over the phone and then got in his car and did the deal while riding around with him. For all the poo poo I gave them for it, it was a much better idea that what you did when you got into that Bitcoiner's car, MP.
I don't know what to tell you I'm comfortable defending myself and the guy was a five and a half foot hippy driving an electric car. I walk around one of the most dangerous areas in Austin every day of my life so I am just not that afraid of doomsday scenarios which are very unlikely to actually happen. That being said if the guy had looked differently or if I had gotten a different vibe from him I may not have gotten in and I'm not claiming to be some badass who has no fear. There are cars I wouldn't get into obviously.

edit: Worth noting I had someone stationed in the parking lot watching the whole thing from a nearby parked car. In the event something went wrong (or if the guy decided to shoot me and dump my body in the parking lot in some kind of action thriller scenario he'd have been caught).

edit2: If I'm committing some grievous act by having this conversation please let me know before slapping me with another month+ probation mods. I'll stop if I am told to by you. Just trying to answer some questions and shed some light on the world of bitcoin trading.

Mosaic Perception fucked around with this message at Sep 6, 2013 around 02:02

Sydney Bottocks
Oct 15, 2004

Bottocks. Neither one thing nor the other.

Darth123123 posted:

Well this sounds logical and easier than banking and fiat.

I don't understand the point of meeting up to exchange bitcoin for filthy fiat in the first place, I thought part of the appeal of it was that you could exchange it for money "quickly" and "safely" without ever having to sully yourself by interacting with another human being in the flesh.

Besides, given bitcoiners' amazing propensity for getting ripped off at the drop of a hat, I'd have figured that if they were going to lose all their libertarian fantasy money, they'd prefer to do it from the comfort of their own home, instead of having to get all sweaty trying (and failing) to chase down some guy who pulled the ol' switcheroo on them at the local Starbucks.

Cursed Lumberjack
Nov 14, 2006
A rather unfortunate logger indeed.

The first time any of my friends got into drugs and went to make a purchase they said they went to a local cinema, met up with a guy they had only talked to over the phone and then got in his car and did the deal while riding around with him. For all the poo poo I gave them for it, it was a much better idea that what you did when you got into that Bitcoiner's car, MP.

Powershift
Nov 23, 2009


Bitcoin: marginally safer than getting into a car with a stranger to buy drugs

Are you a regulator? if you are you have to tell me or that's entrapment.

fermun
Nov 4, 2009


Lolie posted:

I just checked out reddit because the other forum was down and they seem to be all enthusiastic about the possibility of e-Bay accepting Bitcoin.

I'm not sure whether it happens in the US (I don't see why it wouldn't), but here in Australia the Taxation Office (and Centrelink - the statutory authority which handles income support payments - too, I believe) requires e-Bay to give them a list of the names and transaction volumes of all sellers whose sales are over a certain threshold (it's been reported as $20,000 for the financial year just gone - it used to be higher) and has done so for years. e-Bay accepting Bitcoin as a payment method means those transactions would no longer be under the radar.

On another note, it will be interesting to see whether there's an upswing in Bitcoin adoption here after tomorrow's federal election. We're absolutely screwed for the next few years no matter who wins and I can see that reality leading to increasing numbers of people trying to "get their share" by attempting to operate outside the system (can't say I blame them given the current political climate here right now).

In the US companies have to report anyone over $20,000 and for some longer period of time they have to keep records of anyone who makes more than 200 individual transactions per calendar year, that's why Steam asks for everyone's social security number if they try to sell too many trading cards or hats.

It is a complete fantasy that it would happen though, eBay is the same company as PayPal, and why would they compete with themselves using something that is worse in every way from their perspective?

edit:
https://support.steampowered.com/kb...4#addldocsemail

https://support.steampowered.com/kb_article.php?ref=6088-UDXM-7214#addldocsemail posted:

Is there a limit on the number of transactions I can participate in in the Community Market?

Currently there is no limit on the number of transactions you can participate in. However, the United States Internal Revenue Service, under Section 6050W of the Internal Revenue Code, requires us to collect certain information from you if you engage in more than 200 separate sales transactions in a calendar year. In particular, if you are a U.S. citizen or resident, you will need to provide us with your name, address and Social Security Number, and if you are not a U.S. citizen or resident, you will need to provide evidence of your non-U.S. status on an online form we provide to you. We will be providing a link to these forms and a process by which you can provide the needed information if and as you approach the 200 sales limit. We may use a third-party to collect this information. You can choose not to provide this information if you wish, but you will not be able to list any items for sale in the Community Market once you meet the 200 sales threshold, and any items listed will be removed. Note that, while we are required to collect this information from you, we are not required to share this information with the IRS under Section 6050W unless you exceed $20,000 in gross sales in the Community Market within a single calendar year. For purposes of calculating the number of sales you have made in a calendar year, all of your accounts will be treated as a single account.

fermun fucked around with this message at Sep 6, 2013 around 02:22

AlbieQuirky
Oct 9, 2012


Lolie posted:

I just checked out reddit because the other forum was down and they seem to be all enthusiastic about the possibility of e-Bay accepting Bitcoin.

I'm not sure whether it happens in the US (I don't see why it wouldn't), but here in Australia the Taxation Office (and Centrelink - the statutory authority which handles income support payments - too, I believe) requires e-Bay to give them a list of the names and transaction volumes of all sellers whose sales are over a certain threshold (it's been reported as $20,000 for the financial year just gone - it used to be higher) and has done so for years. e-Bay accepting Bitcoin as a payment method means those transactions would no longer be under the radar.

Our Internal Revenue Service definitely tracks eBay "power sellers" but eBay doesn't voluntarily share information with them last time I checked; PayPal does, though, so in effect it's the same.

The threshold for PayPal to report US accountholders' transactions to the IRS is 200 transactions or $20,000 worth of transactions, whichever comes first.

AlbieQuirky fucked around with this message at Sep 6, 2013 around 02:18

Lolie
Jun 4, 2010


AlbieQuirky posted:

Our Internal Revenue Service definitely tracks eBay "power sellers" but eBay doesn't voluntarily share information with them last time I checked; PayPal does, though, so in effect it's the same.

The threshold for PayPal to report US accountholders' transactions to the IRS is 200 transactions or $20,000 worth of transactions, whichever comes first.

It's not really "voluntary" here, either. There's no option for e-Bay not to comply with a "request" from the ATO or Centrelink - they both have formidable coercive powers. I know that last year e-Bay had to provide the ATO with the relevant information by 1 August (our financial year ends 30 June), so the information was given to the ATO during the period when many people were still doing their tax.

A lot of data from financial institutions is pre-filled here - ie, when you go to prepare your tax return online the institution has already sent the data to the ATO so the amounts are already filled in on your tax return. I'm not sure whether PayPal does this (it's a licensed FSP here but in a special class of its own) or whether they operate on the same basis as e-Bay and do a huge data dump to the ATO soon after the end of the financial year. e-Bay's definitely not a good way to avoid declaring income here.

Edit: Having caught up on a bit of the BTC news, I've got to hand it to BFL. It takes serious balls to offer pre-orders for a new product (and one which involves a new process, at that) when you still haven't fulfilled all the orders placed over a year ago for your old product line.

I absolutely love this comment from the BFL forums.

quote:

It's not an economic cheat code in real life.

It sums up so perfectly what so many Bitcoiners are hoping for - a real life cheat code.

Lolie fucked around with this message at Sep 6, 2013 around 03:49

Powershift
Nov 23, 2009


Lolie posted:

Edit: Having caught up on a bit of the BTC news, I've got to hand it to BFL. It takes serious balls to offer pre-orders for a new product (and one which involves a new process, at that) when you still haven't fulfilled all the orders placed over a year ago for your old product line.

I absolutely love this comment from the BFL forums.


It sums up so perfectly what so many Bitcoiners are hoping for - a real life cheat code.

It takes even larger balls to charge a 10% restocking fee on a 13 month late pre-order.

Alan Smithee
Jan 3, 2005


qnqnx posted:

http://deals.ebay.com/blog/whats-th...itcoins-anyway/
The shilling is coming from inside the house.

http://www.reddit.com/r/Bitcoin/com...accept_bitcoin/

quote:

[–]brcreeker 7 points 8 hours ago

+tip 25 mBTC

quote:

[–]itsnotlupus 12 points 6 hours ago

Thanks, although that feels ludicrously excessive.

In a few years, people will look back at comments like your and be amazed that folks were tipped tens of thousands of dollars worth of µBTC for what amounts here to an image-less macro/meme.

(for archeologists, this was worth $3.21 at time of posting.)
I ain't even mad. It's just so darn pwecious

Cordyceps Headache posted:

Maybe it's like Smurf. Hey, Bitcoiner-Darth, did you bitcoin that bitcoin yesterbitcoin?

It's gone the way of the buffalo

Bitcoin bitcoin bitcoin BITCOIN Bitcoin bitcoin (bitcoin)

Alan Smithee fucked around with this message at Sep 6, 2013 around 05:06

bobkatt013
Oct 8, 2006

Ever have one of those day?

Son of a bitch. I stick up that article about bitcoins ending feminism on twitter and I end up on this
http://paper.li/AllexFer/1344316282

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Alan Smithee
Jan 3, 2005


bobkatt013 posted:

Son of a bitch. I stick up that article about bitcoins ending feminism on twitter and I end up on this
http://paper.li/AllexFer/1344316282

Ah poo poo you just wound up on the Feminazi Watch List

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