First Website Improvements Released!

Mexican VPN, check.

ok here is an IRS notice from a couple years back and let me say THIS HAS CHANGED with the passing of new bills in the last couple of weeks. The new stuff is not suppose to come into affect til sometime next year but the article i read [which i cant seem to find right now] if it holds true was just stupid thinking and you could really see the idiots just grasping at more ways to get into and control cryptos.

https://www.irs.gov/pub/irs-drop/n-14-21.pdf

centar wrote:Whoa, you guys are going to issue 1099s to users? I think you may want to really think about that, I can guarantee you there will be a MASS exodus. Regardless of people paying taxes or not, I highly doubt many people are going to want to give info out like that. Also, how will you determine US residency, based on IP - or is this the honor system?

1099 doesn't do anything for someone who is trying to illegally avoid taxes or lives in a place other then the USA, it only helps someone who is actually trying to do the right thing, and pay their taxes. Anyone who would "leave" because of something that either doesn't affect them or helps them out tremendously, is foolish.

Also it's amazing how much misinformation people are trying to push in here as fact because they don't want to pay taxes.

TIP: Prohashing owners are correct, you are not, deal with it.

Aura89 wrote:

centar wrote:Whoa, you guys are going to issue 1099s to users? I think you may want to really think about that, I can guarantee you there will be a MASS exodus. Regardless of people paying taxes or not, I highly doubt many people are going to want to give info out like that. Also, how will you determine US residency, based on IP - or is this the honor system?

1099 doesn't do anything for someone who is trying to illegally avoid taxes or lives in a place other then the USA, it only helps someone who is actually trying to do the right thing, and pay their taxes. Anyone who would "leave" because of something that either doesn't affect them or helps them out tremendously, is foolish.

Also it's amazing how much misinformation people are trying to push in here as fact because they don't want to pay taxes.

TIP: Prohashing owners are correct, you are not, deal with it.

You're adding absolutely nothing constructive to this conversation. What exactly do you think they are "correct" about? You are not my (or anyone else's) accountant or tax lawyer - so you have no authority to claim what is or isn't "correct" as it relates to U.S. taxes.

My statement was only that I think people will leave, and from the vast majority of responses so far, that looks to be fairly accurate. In case you hadn't noticed, most crypto enthusiasts are not exactly the type to trust governmental agencies like the IRS. Not wanting to fill out a 1099 for an activity which may or may not be subject to taxation depending on one's interpretation of U.S. tax code is simply a matter of protecting your own interests until more clarification is available.

centar wrote:

Aura89 wrote:

centar wrote:Whoa, you guys are going to issue 1099s to users? I think you may want to really think about that, I can guarantee you there will be a MASS exodus. Regardless of people paying taxes or not, I highly doubt many people are going to want to give info out like that. Also, how will you determine US residency, based on IP - or is this the honor system?

1099 doesn't do anything for someone who is trying to illegally avoid taxes or lives in a place other then the USA, it only helps someone who is actually trying to do the right thing, and pay their taxes. Anyone who would "leave" because of something that either doesn't affect them or helps them out tremendously, is foolish.

Also it's amazing how much misinformation people are trying to push in here as fact because they don't want to pay taxes.

TIP: Prohashing owners are correct, you are not, deal with it.

You're adding absolutely nothing constructive to this conversation. What exactly do you think they are "correct" about? You are not my (or anyone else's) accountant or tax lawyer - so you have no authority to claim what is or isn't "correct" as it relates to U.S. taxes.

My statement was only that I think people will leave, and from the vast majority of responses so far, that looks to be fairly accurate. In case you hadn't noticed, most crypto enthusiasts are not exactly the type to trust governmental agencies like the IRS. Not wanting to fill out a 1099 for an activity which may or may not be subject to taxation depending on one's interpretation of U.S. tax code is simply a matter of protecting your own interests until more clarification is available.

I don't want to drag on something that I think has been made far too big a deal of already, but I just want to say that the rationale for the forms is the following. Our business model is that we purchase hashrate from miners, use it to mine the most profitable coin, and then pay them a debt owed in cryptocurrencies that they choose (or dollars, if they choose that). There are documents from the agencies that back up that it's perfectly legal to purchase computing power from people, but buying things from suppliers requires sending these forms. But again, the number of affected customers is probably going to be something like 4%. This is not the end of the world.

What you do with the forms, and how you interpret your tax liability, is up to you. While there might be one out there, I wasn't able to find any cases of miners being sued by the IRS. We are not making a statement as to whether you owe taxes, we're just giving you paperwork and you decide how to complete your own taxes.

Plus, I'm not an accountant, so you can't take my word on this, but you might want to look into deductions for electricity costs and the cost of the equipment itself, if you determine that you owe taxes.

I think we should go back to discussing the website, because the whole point of this thread was to get Constance some feedback on the great work she's done. What do you think of the new payout addresses?

Well you did just drop the 1099s on us in a random post about site feedback rather than address it head on. So forgive us for taking such a bombshell comment with far reaching implications, like we did. But if you want honest feedback, I think the payout addresses page is cluttered and frankly ugly as hell. So there.

Thanks for the clarification Steve.

Re website settings page: Its ok. Seeing the estimated fees might be nice, but I try to avoid those anyway. Other than that I dont see any functionality added. I'd like to reintroduce a feature I suggested on the other Wishlist thread a few weeks ago:

It would be nice to have a checkbox or button that sets a payout to 100% until free threshold is met, at which time checkbox is automatically cleared.

For instance, perhaps I need my BTC payout asap, but dont want to pay fees, and dont want to be stuck with $10 of BTC because I was asleep when threshold was met or payout occurred. Am I making sense here?

Ideally I'd like to be able to script my payout proportions based on a wide gamut of criteria.

Also, some of your minimum thresholds are higher than the free threshold for the same coin, probably due to recent bull mkt but may be confusing to new users.

jimbo207 wrote:Thanks for the clarification Steve.

Re website settings page: Its ok. Seeing the estimated fees might be nice, but I try to avoid those anyway. Other than that I dont see any functionality added. I'd like to reintroduce a feature I suggested on the other Wishlist thread a few weeks ago:

It would be nice to have a checkbox or button that sets a payout to 100% until free threshold is met, at which time checkbox is automatically cleared.

For instance, perhaps I need my BTC payout asap, but dont want to pay fees, and dont want to be stuck with $10 of BTC because I was asleep when threshold was met or payout occurred. Am I making sense here?

Ideally I'd like to be able to script my payout proportions based on a wide gamut of criteria.

Also, some of your minimum thresholds are higher than the free threshold for the same coin, probably due to recent bull mkt but may be confusing to new users.

Thanks for pointing that out. I'm going to add that last one as a bug, so that it can be resolved soon.

Here are some Solutions for all you idiots that "Feel" some type of way about Paying Taxes for a Government that fundamentally gives you Access to Water, Electricity, and Protection from Foreign Entities - CHECK YOUR PRIVILEGED. Christ almighty you're able to run some of the most sophisticated machinery and computational equipment ever produced.

1099 Misc - You get one of these and are supposed to fill them out for ANY income recieved over 600. I filled one out for Banking Bonus Sign Up's one year because I had 8 banks send me different forms $50-300

If you don't want to Avoid Taxes and instead you want to Evade them, go to jail. Have fun. It's not pleasant and the food sucks. Tax Avoidance: IRS Gives you thumbs up - Tax Evasion of any amount is a Federal Offense and Felony.

Tax Evasion:
Not receiving a 1099 Misc and Claiming you're an international entity.
Using VPN's
Outright lying
Choosing to be Ignorant and a Functioning member of the US Social and Economic system

Tax Avoidance: Complying with IRS Laws (Regardless of how you feel about them, Fed Reserve Bank, or Gov't).
-Get a private LLC Made for you in WY, NV, or any other State
-Classify as S Corp for mining fee's and expenses to become Deductions and Taxable as Standard Income
-Get E-Residency in Estonia and Incorporate there - Making yourself a Foreign Entity in a place that provides excellent Tax Solutions
-Move your Machines out of the US (just please don't put it in some 3rd world country polluting everything making more in an hour than the locals make in a month, that makes you an asshole)

If y'all wanna spend this much balking about it and complaining....Direct that time and energy into FINDING VIABLE SOLUTIONS. I'm not here to tell anyone what to do. Just educate yourself before you wreck yourself. Ignorance is an undoing.

If you're one of the people going to "Jump Ship".....You don't have to tell ANYONE. Stay Anonymous - Ninja yo arse off da BOAT.

The only one who's really going to care go an individual not being educated and compliant with the powers that be is the individual when they're banging their head against a cell wall. Blockchain isn't an "Anonymous" System. It's a PUBLIC DECENTRALIZED LEDGER. You wanna hide, get Coinomi on a fresh device, Shapeshift or Changelly all your coin into Zcash, Shapeshift or Changelly your Zcash into your spread. Congratz, you've off-gridded your digital assets. Have fun being a Rebel Rogue.

richard^^^