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Topic: Forum finances (Read 5069 times)

newbie
Activity: 28
Merit: 0
January 17, 2016, 10:34:50 AM
#55
...
I'm also interested to know more about the actual forum finances (if it's possible).

The forum money I held has largely been spent now, mostly in the forum software project.
copper member
Activity: 2870
Merit: 2298
January 16, 2016, 09:08:39 PM
#54
*full necro mode*

Is there a similar thread for the 2014 calendar year? Not finding anything on google.

he hasnt calculated the taxes for that year as yet

False.
ok. do you have the link or evidence to prove?
In the US (where the forum is based), both tax payments, and tax returns are due on April 15th of the following year for the prior year's tax period. If you are unable to complete your tax return by April 15th, then you can request an automatic 6 month extension (you still need to have 90% of your tax due paid by April 15th), which would move the due date to file to October 15th.

There are situations in which an additional extension could be granted, however theymos most likely does not qualify for any of these.
hero member
Activity: 756
Merit: 510
Dear me, I think I'm becoming a god
January 16, 2016, 08:42:12 PM
#53
*full necro mode*

Is there a similar thread for the 2014 calendar year? Not finding anything on google.

he hasnt calculated the taxes for that year as yet

False.
ok. do you have the link or evidence to prove?
donator
Activity: 4732
Merit: 4240
Leading Crypto Sports Betting & Casino Platform
January 16, 2016, 08:05:40 PM
#52
*full necro mode*

Is there a similar thread for the 2014 calendar year? Not finding anything on google.

he hasnt calculated the taxes for that year as yet

False.
legendary
Activity: 1666
Merit: 1183
dogiecoin.com
January 16, 2016, 07:40:26 PM
#51
*full necro mode*

Is there a similar thread for the 2014 calendar year? Not finding anything on google.
he hasnt calculated the taxes for that year as yet

For 2014? Surely all the deadlines have gone. I assume he's just busy and / or didn't feel like posting it but wanted to check if I missed a thread.
legendary
Activity: 1778
Merit: 1042
#Free market
January 16, 2016, 06:27:19 PM
#50
*full necro mode*

Is there a similar thread for the 2014 calendar year? Not finding anything on google.
he hasnt calculated the taxes for that year as yet


I'm also interested to know more about the actual forum finances (if it's possible).
hero member
Activity: 756
Merit: 510
Dear me, I think I'm becoming a god
January 16, 2016, 06:09:25 PM
#49
*full necro mode*

Is there a similar thread for the 2014 calendar year? Not finding anything on google.
he hasnt calculated the taxes for that year as yet
legendary
Activity: 1666
Merit: 1183
dogiecoin.com
January 16, 2016, 05:21:20 PM
#48
*full necro mode*

Is there a similar thread for the 2014 calendar year? Not finding anything on google.
member
Activity: 119
Merit: 100
September 26, 2014, 11:20:01 PM
#47
I wonder what is the purpose of posting forum finances openly ? Users are not stakeholder. May be, only those who donated, have the right to access this data.

I agree
Just like only the developers of the bitcoin software have the right to access the source code

Precisely what jackjack said. That is one of the most stupid suggestions I have ever seen on this forum, BitCoinDream. You are asking a forum that is used for discussion of a completely decentralized currency to centralize itself and make its finances private. What is the point of that...?
The forum is essentially centralized. I believe that sirus controls the DNS listings of the forum, and theymos controls the majority of the money (I believe he also controls the servers and ISP services provided by PIA).

As I mentioned above, theymos does control, almost all of the forum's money (and likely owns it as well from a legal standpoint) however he has said previously that he considers the money held for the forum to be "community" money, hence why he shares the forum's finances with the community
legendary
Activity: 2282
Merit: 1204
The revolution will be digital
September 26, 2014, 01:58:16 PM
#46
I wonder what is the purpose of posting forum finances openly ? Users are not stakeholder. May be, only those who donated, have the right to access this data.

I agree
Just like only the developers of the bitcoin software have the right to access the source code

Precisely what jackjack said. That is one of the most stupid suggestions I have ever seen on this forum, BitCoinDream. You are asking a forum that is used for discussion of a completely decentralized currency to centralize itself and make its finances private. What is the point of that...?

I dont need to ask it to be centralized. It is Centralized. DefaultTrust is the biggest example of that. I'm skipping the other examples as those are beyond the scope of discussion of this thread. Its funny that someone is comparing Bitcoin Core's development model with the forum !!! How come are they comparable ?



The thing is that I don't understand why it bothers you
I don't understand the "only xxx have the right to access the data" thing either

Don't get me wrong, I don't think users HAVE to know about the finances. But if theymos chose to do it I don't see where the problem is

Well, that's true. None may have a problem if theymos is publishing the data. Its a like a non-listed company is publishing its audit report. They may or may not as per the management's will. But I wrote it for 2 reasons...

1. A few people, who has zero contribution to the forum in terms of time/money, are asking about someone's death in a way as if the dead person has stolen their money.

2. Open publishing of the forum finances are drawing undue attention of the authorities to further monitor the forum activity... which is undesirable. Regarding the authority monitoring of Bitcoin, even Satoshi once expressed his concern...

It would have been nice to get this attention in any other context.  WikiLeaks has kicked the hornet's nest, and the swarm is headed towards us.


BitcoinTalk means a LOT to some of us. We dont want it to be hit for all the unnecessary reasons.
legendary
Activity: 1176
Merit: 1233
May Bitcoin be touched by his Noodly Appendage
September 26, 2014, 01:45:20 PM
#45
I wonder what is the purpose of posting forum finances openly ? Users are not stakeholder. May be, only those who donated, have the right to access this data.

I agree
Just like only the developers of the bitcoin software have the right to access the source code

Precisely what jackjack said. That is one of the most stupid suggestions I have ever seen on this forum, BitCoinDream. You are asking a forum that is used for discussion of a completely decentralized currency to centralize itself and make its finances private. What is the point of that...?

I dont need to ask it to be centralized. It is Centralized. DefaultTrust is the biggest example of that. I'm skipping the other examples as those are beyond the scope of discussion of this thread. Its funny that someone is comparing Bitcoin Core's development model with the forum !!! How come are they comparable ?



The thing is that I don't understand why it bothers you
I don't understand the "only xxx have the right to access the data" thing either

Don't get me wrong, I don't think users HAVE to know about the finances. But if theymos chose to do it I don't see where the problem is
EFS
staff
Activity: 3696
Merit: 2065
Crypto Swap Exchange
September 26, 2014, 01:19:58 PM
#44
It's funny how people think forum is decentralized. Forum still has a lot of BTC reserve, thanks to theymos.
legendary
Activity: 2282
Merit: 1204
The revolution will be digital
September 26, 2014, 12:32:36 PM
#43
I wonder what is the purpose of posting forum finances openly ? Users are not stakeholder. May be, only those who donated, have the right to access this data.

I agree
Just like only the developers of the bitcoin software have the right to access the source code

Precisely what jackjack said. That is one of the most stupid suggestions I have ever seen on this forum, BitCoinDream. You are asking a forum that is used for discussion of a completely decentralized currency to centralize itself and make its finances private. What is the point of that...?

I dont need to ask it to be centralized. It is Centralized. DefaultTrust is the biggest example of that. I'm skipping the other examples as those are beyond the scope of discussion of this thread. Its funny that someone is comparing Bitcoin Core's development model with the forum !!! How come are they comparable ?

hero member
Activity: 560
Merit: 506
I prefer Zakir over Muhammed when mentioning me!
September 26, 2014, 12:05:58 PM
#42
I wonder what is the purpose of posting forum finances openly ? Users are not stakeholder. May be, only those who donated, have the right to access this data.

IMO : As this is public forum, making this public would be a good thing too. If donators can only access, then I think users who registered after 2013 mostly can't access as the donation amount is high when considering the value/BTC. Roll Eyes

  ~~MZ~~
legendary
Activity: 1134
Merit: 1112
September 26, 2014, 12:03:38 PM
#41
I wonder what is the purpose of posting forum finances openly ? Users are not stakeholder. May be, only those who donated, have the right to access this data.

I agree
Just like only the developers of the bitcoin software have the right to access the source code

Precisely what jackjack said. That is one of the most stupid suggestions I have ever seen on this forum, BitCoinDream. You are asking a forum that is used for discussion of a completely decentralized currency to centralize itself and make its finances private. What is the point of that...?
legendary
Activity: 1176
Merit: 1233
May Bitcoin be touched by his Noodly Appendage
September 26, 2014, 11:48:55 AM
#40
I wonder what is the purpose of posting forum finances openly ? Users are not stakeholder. May be, only those who donated, have the right to access this data.

I agree
Just like only the developers of the bitcoin software have the right to access the source code
legendary
Activity: 2282
Merit: 1204
The revolution will be digital
September 26, 2014, 11:41:13 AM
#39
I wonder what is the purpose of posting forum finances openly ? Users are not stakeholder. May be, only those who donated, have the right to access this data.
hero member
Activity: 630
Merit: 501
Miner Setup And Reviews. WASP Rep.
September 24, 2014, 10:26:44 AM
#38
I guess the forum took a bit blow when Satoshi dissapeared. Im assuming he was a supporter of the forum, or he didn't give a fuck about donating?

Satoshi was the person/s who started the forum.
legendary
Activity: 1204
Merit: 1028
September 24, 2014, 10:02:41 AM
#37
I guess the forum took a bit blow when Satoshi dissapeared. Im assuming he was a supporter of the forum, or he didn't give a fuck about donating?
legendary
Activity: 1267
Merit: 1000
September 24, 2014, 04:46:38 AM
#36
BTW, if you are unfamiliar with how tax works with Bitcoin, you'll probably be really confused at how the forum experienced a net loss in 2013 but still paid a lot of tax. That happens because every expense "triggers" substantial capital gains, and therefore capital gains tax. The forum essentially pays a variable-rate tax on all expenses.

If you're interested: I used the LIFO method for calculating capital gains. My idea is to "save up" BTC batches until they become long-term, which has a lower tax rate. My understanding is that you can use any capital gains calculation method, though. (This is not tax advice -- consult a CPA.)

Who prepared the tax return?  You or a CPA?
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