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jn_r

Creator of Bitcoin digital cash reveals identity

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His explanations for why he doesn't want to provide additional proof are a bit soft. Why go to efforts to "prove" you are Satoshi only to say that you will not provide further proof and that you don't care if people believe you? No one forced him to prove his identity as Satoshi. If he doesn't care then he didn't have to submit any "proof" whatsoever.

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Guest Haydentiff

Follow Peter Todd on Twitter:

Gavin's commit access just got removed - Core team members are concerned that he may have been hacked.

Signing any block after the genesis block isn't good evidence you're Satoshi as Bitcoin was released publicly w/o a pre-mine.

When Bitcoin was released on the cryptography mailing list, only block _#0_ existed - everything after could be mined by the public.

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Guest Haydentiff
1 hour ago, jn_r said:

I have no reason (or the knowledge) to doubt Craig Wright is who he claims he is

Think about this for a second. What if it was proven that he was absolutely NOT Satoshi? What would you think about all his effort trying to convince people that he was? Psychotic, no?

 

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Just now, Haydentiff said:

Think about this for a second. What if it was proven that he was absolutely NOT Satoshi? What would you think about all his effort trying to convince people that he was? Psychotic, no?

 

Definitely psychotic. That's reason the more for me to believe he is Satoshi. And also, Gavin has not taken his statement offline, so maybe he is still sleeping and didn't look at his blog or something, or Gavin genuinely thinks  that Craig is Satoshi.

I can't make Craig Wright more likeable then he currently is :).  And I think Craig knows this of himself.

Or just maybe he really really is psychotic and makes those stupid claims that he is Satoshi ;) 

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Guest Haydentiff

I think Craig Wright has a very dark side...

 

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Can you imagine how big of a target he has painted on himself for coming out like this? He must know what is coming and is quite possible prepared.

On the other hand, I agree with cmbartley. His reasons for staying silent and then just now coming out are a bit odd. He says other people made the choice for him. Maybe he was being blackmailed or something.

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10 minutes ago, Mercury said:

I imagine his tax woes will be penitence enough.

In the Netherlands it would be 450mln dollar * 1.2% = $5.4 mln per year

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25 minutes ago, jn_r said:

In the Netherlands it would be 450mln dollar * 1.2% = $5.4 mln per year

Correct me if I am wrong but wouldn't it also depend on what it was defined and the allotted percent over time? Or does he just pay what value on what it is today?

So in Australia bitcoin over the years has been a commodity (changing value is to be reported profit/loss and taxed) and also under currency rules. If he has to figure out the value over time he would have to figure what the changing value of bitcoin was, as per its definition to pay back taxes (I assume earnings have not been reported),. There could also be some form of plea deal (isn't he under tax investigation- which might be in part why he came out now).

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Bitcoin tax rules in Australia

Quote

Summary

Transacting with bitcoins is akin to a barter arrangement, with similar tax consequences.
The ATO’s view is that Bitcoin is neither money nor a foreign currency, and the supply of bitcoin is not a financial supply for goods and services tax (GST) purposes. Bitcoin is, however, an asset for capital gains tax (CGT) purposes.
The records you require in relation to bitcoin transactions are:

  • the date of the transactions
  • the amount in Australian dollars (which can be taken from a reputable online exchange)
  • what the transaction was for, and
  • who the other party was (even if it’s just their Bitcoin address).

That will be fun to sort out, especially if most transactions were pre-rules.

Also it appears GST applies to all mined coins.

A good chunk of these now claimed bitcoins will have to be liquidated to settle tax issues

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6 minutes ago, Mercury said:

Correct me if I am wrong but wouldn't it also depend on what it was defined and the allotted percent over time? Or does he just pay what value on what it is today?

So in Australia bitcoin over the years has been a commodity (changing value is to be reported profit/loss and taxed) and also under currency rules. If he has to figure out the value over time he would have to figure what the changing value of bitcoin was, as per its definition to pay back taxes (I assume earnings have not been reported),. There could also be some form of plea deal (isn't he under tax investigation- which might be in part why he came out now).

Yes that's true. In NL I did my taxes for last year as follows: Look at my possessions at 1-1-2015. And then calculate that back to Euros for the price it was at 1-1-2015. 

It was btw more to get kind of a rough idea of what might possibly (+/-) the taxes he would have to pay

 

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13 minutes ago, jn_r said:

Yes that's true. In NL I did my taxes for last year as follows: Look at my possessions at 1-1-2015. And then calculate that back to Euros for the price it was at 1-1-2015. 

It was btw more to get kind of a rough idea of what might possibly (+/-) the taxes he would have to pay

 

True. Might make a big difference if he has to pay the difference of bitcoin at $10 vs. $1000... anyways- some other persons headache

 

*Appears he has his lawyers 'in discussion' with the Australian tax authority over what is owed

 

Edited by Mercury

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