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Chat archive · 2018-06

Hobo01 · · #87929

It’s a ponzi scheme.

Hobo01 · · #87930

Requires future employees/contractors to keep going.

CSZiggy · · #87931

if you work at 7-11 and eat donuts on duty, why wouldnt they deduct the price from your paycheck?

Hobo01 · · #87932

Taking from Peter to pay paul in the future.

CSZiggy · · #87933

that seems pretty resonable to me.

Hobo01 · · #87934

Yes. But they are saying EVERYONE is doing that. But they arent

Hobo01 · · #87935

You provide your machines for use.

Hobo01 · · #87936

It generates value to the business.

Hobo01 · · #87937

Who paid for that?

Hobo01 · · #87938

YOU DID!

Hobo01 · · #87939

They reap the rewards.

Hobo01 · · #87940

Ponzi

CSZiggy · · #87941

they have an office space. They have work that needs be done. If you come to them and do the work you will get paid, and then owe taxes on it. Seems pretty cut and dry to me.

Hobo01 · · #87942

The very definition.

Hobo01 · · #87943

FINE

Hobo01 · · #87944

Like I said. give me their expense reports.

Hobo01 · · #87945

So I can write off my portion of it.

CSZiggy · · #87946

they are a private company not beholden to stockholders, good luck with that.

Hobo01 · · #87947

EXACTLY!

Hobo01 · · #87948

We are not stakeholders.

Hobo01 · · #87949

We are not contributors.

CSZiggy · · #87950

your portion would be that 4.99% you paid them for the parking spot to be able to work at their office building.

Hobo01 · · #87951

We are not employees.

Hobo01 · · #87952

We are customers.

Hobo01 · · #87953

Which I paid.

CSZiggy · · #87954

you work at their pool, you are their employees.

Hobo01 · · #87955

I don’t have to supply an EIN number to get a reciept.

CSZiggy · · #87956

you get paid by someone, they are your employer.

Hobo01 · · #87957

No.

Hobo01 · · #87958

We are customers, using their service.

Hobo01 · · #87959

That is where you are wrong.

CSZiggy · · #87960

do they pay you?

CSZiggy · · #87961

do you get anything from them you didnt pay them for?

Hobo01 · · #87962

No

Hobo01 · · #87963

My miner does

Hobo01 · · #87964

the one I own.

CSZiggy · · #87965

they dont give you coins that you didnt pay fiat for?

Hobo01 · · #87966

They don’t.

Hobo01 · · #87967

My miner does.

CSZiggy · · #87968

since inanimate objects cannot own property, you would be the one getting the payments not the machine correct?

Hobo01 · · #87969

The coins generated are from the miners.

Hobo01 · · #87970

Not their business.

CSZiggy · · #87971

and since machines aren't liable for taxes and you are, who should pay them?

Hobo01 · · #87972

No

Hobo01 · · #87973

Since I own the machine. I am the beneficiary.

Hobo01 · · #87974

Point is, ProHashing did nothing to get those coins.

CSZiggy · · #87975

and beneficarys dont pay any taxes?

Hobo01 · · #87976

IT was miners as that did.

CSZiggy · · #87977

technically then, neither did you

Hobo01 · · #87978

Not the point. Stay with me.

CSZiggy · · #87979

the miners did

Hobo01 · · #87980

The miner earns the money.

Hobo01 · · #87981

we collaborate as a whole to get more.

Hobo01 · · #87982

We own the miners.

CSZiggy · · #87983

then they should pay the miners, and not the owner of the miners?

Hobo01 · · #87984

ProHashing provides a service. To connect them.

Hobo01 · · #87985

We pay prohashing 4.99%

Hobo01 · · #87986

None of us are ever employees or contractors.

CSZiggy · · #87987

and they pay you the other 95.01%

Hobo01 · · #87988

We already paid our "admission" price.

Hobo01 · · #87989

Nope.

Hobo01 · · #87990

We don’t get 95.01% for each that is not true.

Hobo01 · · #87991

They all go into 1 big pot.

CSZiggy · · #87992

?

Hobo01 · · #87993

Then the "evaluation" of each miners PPS is determined.

CSZiggy · · #87994

1 big pot what?

Hobo01 · · #87995

They did distribute that.

Hobo01 · · #87996

You don’t get a 1 for 1 transaction.

Hobo01 · · #87997

Which is what you claim.

CSZiggy · · #87998

its based on the shares your miner produced

Hobo01 · · #87999

That is not how PPS works.

Hobo01 · · #88000

EXACTLY!

CSZiggy · · #88001

this isnt a PPS pool

CSZiggy · · #88002

its a modified PPS pool, as stated

Hobo01 · · #88003

Yes it is. It’s a variation.

Hobo01 · · #88004

PPS+ I think.

CSZiggy · · #88005

so you are paid based on what coin you are assigned

Hobo01 · · #88006

At no point. Did the "company" do anything.

Hobo01 · · #88007

It’s not a company, it’s a service.

Hobo01 · · #88008

period.

CSZiggy · · #88009

if you get the 1$ coin you make more than the guy mining the .50 coin.

Hobo01 · · #88010

They are trying to offset their tax liability onto you.

Hobo01 · · #88011

your not understanding.

Hobo01 · · #88012

I make more than most people.

Hobo01 · · #88013

It’s a matter of terminologies.

Hobo01 · · #88014

Employee means you have to provide certain things. Like Health Insurance.

Hobo01 · · #88015

Contractor means you have to provide business expense.

Hobo01 · · #88016

Customer means, you are required to pay local/state taxes

CSZiggy · · #88017

short afk

Hobo01 · · #88018

They are trying to role all 3 into one.

Hobo01 · · #88019

If I am a customer -> The business gets the write offs

Hobo01 · · #88020

If I am a contractor we share write offs.

Hobo01 · · #88021

If I am an Employee the business is liable for certain benfits.

CSZiggy · · #88022

not as an idepenant contractor I dont think they are

Hobo01 · · #88023

Ok, think about it like this.

Hobo01 · · #88024

Your building a new house.

CSZiggy · · #88025

you get your write offs for your business and they get theirs

Hobo01 · · #88026

You have an option -> Build it yourself, Find a builder

CSZiggy · · #88027

ok

Hobo01 · · #88028

If you build it yourself, then you hire "contractors" which provide a service.