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Chat archive · 2018-06

Hobo01 · · #88029

Right?

CSZiggy · · #88030

yep agree

Hobo01 · · #88031

Some are painters, some are foundation, some are electrical.

Hobo01 · · #88032

Ok, well they have a business...

Hobo01 · · #88033

They write off their expenses.

Hobo01 · · #88034

right?

CSZiggy · · #88035

yep

Hobo01 · · #88036

Ok. You as the builder, don’t write off their expenses.

Hobo01 · · #88037

You as the builder write off their service agreement.

Hobo01 · · #88038

So if it costs you $100 to get a painter.

Hobo01 · · #88039

You write down $100..

Hobo01 · · #88040

Right?

CSZiggy · · #88041

if its for a business of making someone else the house yes

CSZiggy · · #88042

if its for your own house I would say no

Hobo01 · · #88043

Ok. There is the disagreement.

Hobo01 · · #88044

Why would you say no. Edify me.

CSZiggy · · #88045

if it is your own home why do you get to write it off?

CSZiggy · · #88046

your house is not your business.

Hobo01 · · #88047

Ok. Good question.

CSZiggy · · #88048

if your business was making homes to sell to other people

CSZiggy · · #88049

and you hired contractors then yes, you can write that off

Hobo01 · · #88050

This is why you write it off.

Hobo01 · · #88051

There is no difference between you the individual building a house and a company building the house. EXCEPT for liability.

CSZiggy · · #88052

if you buy a hose for your hose you can write that off?

CSZiggy · · #88053

and if you can write it off

Hobo01 · · #88054

If I took out a loan. And in that loan I told the bank. X% is spent on clearing the land, and y% on the building.

Hobo01 · · #88055

They will ask for the receipts.

CSZiggy · · #88056

if you arent a business of making homes then the cost of the home isnt deductible

Hobo01 · · #88057

Because the loan was given under those circumstances.

Hobo01 · · #88058

Not true.

CSZiggy · · #88059

you went from building a house to getting a loan

Hobo01 · · #88060

CSZiggy what country do you live in?

CSZiggy · · #88061

i was with you on the house part then you took a tangent

Hobo01 · · #88062

ok...

Hobo01 · · #88063

lets go back.

Hobo01 · · #88064

In order to build a house, I need resources right?

CSZiggy · · #88065

you need money to build a house

Hobo01 · · #88066

I have to make a list of resources.

Hobo01 · · #88067

Bricks, food, flooring, cement.

CSZiggy · · #88068

yes you need to buy supplies

Hobo01 · · #88069

What have you.

Hobo01 · · #88070

Ok.

Hobo01 · · #88071

So to get those things I have to get something people agree has value, we call money. USD.

Hobo01 · · #88072

I have to go to the bank, submit my list and include in that list a labor cost.

Hobo01 · · #88073

"LABOR"

CSZiggy · · #88074

you have money to build a house you buy supplies.

Hobo01 · · #88075

The bank agrees and gives me the money under the conditions that 80% is supply and 20% is labor.

CSZiggy · · #88076

skipo the bank

CSZiggy · · #88077

remove the bank, screw the bank, you have 100,000 in hand, go.

Hobo01 · · #88078

When I call a painter on the phone we agree to a price.

CSZiggy · · #88079

leave the bank out of it, you have the money in hand, how does a bank alter this

Hobo01 · · #88080

it’s part of it.

Hobo01 · · #88081

But not important yet.

Hobo01 · · #88082

So painter says FINE I’ll come and paint for $100 (4.99% ProHashing)

Hobo01 · · #88083

Painter is a contractor, but in this context he is a service you are consuming.

Hobo01 · · #88084

The problem lay. in the next level .

CSZiggy · · #88085

so in mining, you are the contractor and the hashrate is the service being consumed?

Hobo01 · · #88086

However, when the painter comes, he has $1000 in supplies.

Hobo01 · · #88087

They are just not painted on the wall yet.

Hobo01 · · #88088

But the painter said he would do it for $100.

Hobo01 · · #88089

You do not have the right to his $1000 in supplies.

Hobo01 · · #88090

Which in this case is the crypto.

CSZiggy · · #88091

no

Hobo01 · · #88092

It’s the paint.

Hobo01 · · #88093

Going on the wall.

CSZiggy · · #88094

the $100 in payment is the crypto

Hobo01 · · #88095

Yes.

Hobo01 · · #88096

No.

Hobo01 · · #88097

Thats the transaction.

CSZiggy · · #88098

the $1000 in supplies is the miner + electric

Hobo01 · · #88099

The painter agreed to a lost.

CSZiggy · · #88100

what you supply

Hobo01 · · #88101

To get his business started.

CSZiggy · · #88102

he does paint, you do machine + electric

Hobo01 · · #88103

No.

Hobo01 · · #88104

He ate the cost of the paint.

Hobo01 · · #88105

So you tell his friends.

CSZiggy · · #88106

is the paint consumed?

Hobo01 · · #88107

and your friends.

CSZiggy · · #88108

is the electric consumed?

Hobo01 · · #88109

Yes. in part.

Hobo01 · · #88110

Yes.

Hobo01 · · #88111

See.

CSZiggy · · #88112

do you not eat the cost of the electricity to get the payment (100$)

Hobo01 · · #88113

Nope. That was the transaction cost.

Hobo01 · · #88114

No matter what we agree never more than 100$

CSZiggy · · #88115

so is the crypto you get

Hobo01 · · #88116

doesn’t matter if it cost me $1500000.00

Hobo01 · · #88117

No

Hobo01 · · #88118

The crypto is the paint.

CSZiggy · · #88119

you just took supplies and payment and swapped them interchangably

Hobo01 · · #88120

The action of putting the paint on the wall is the service.

Hobo01 · · #88121

Nope.

Hobo01 · · #88122

The SERVICE. IS doing the work.

CSZiggy · · #88123

NO the crypto is what you got paid for working, the payment, the $100

Hobo01 · · #88124

No.

CSZiggy · · #88125

the machines hashrate is doing the work

Hobo01 · · #88126

The miner or paint tools did the transfer.

Hobo01 · · #88127

Yes.

Hobo01 · · #88128

The painter owns the tools.