Wendy McElroy: Privacy Is the Virtue That Sparked the American Revolution

Source : Wendy McElroy: Privacy Is the Virtue That Sparked the American Revolution The Satoshi Revolution: A Revolution of Rising Expectations. Section 2: The Moral Imperative of Privacy Chapter 6: Privacy is a Prerequisite of Human Rights Privacy is the Virtue that Sparked the American Revolution, Chapter 6, Segment 2 A general dissolution of principles and manners will more surely overthrow the liberties of America than the whole force of the common enemy. While the people are virtuous they cannot be subdued; but when once they lose their virtue then will be ready to surrender their liberties to the first external or internal invader. — Samuel Adams Many people are under attack from an internal invader: their government. Fortunately, history reveals a powerful weapon against the invasion. Privacy is the revolutionary virtue that caused American colonists to slam the door in the face of British officials, both literally and figuratively. The Third Amendment of the U.S. Constitution prohibits the then-widespread practice of quartering soldiers in private homes, even during peace time, without the consent of owners. The Amendment sounds antiquated to modern ears. But correction of this travesty’s violation of privacy and property was important enough for revolutionaries to rank third in the list of liberties declared by the Bill of Rights. It follows the First Amendment (freedom of speech and religion) and the Second Amendment (the right to bear arms.) Why? Because the Third Amendment asserted the right of domestic privacy against government intrusion into the most personal of realms – the home. It is the only language in the Constitution that addresses the relationship of the individual to the military, in both war and peace, and it gives priority to the individual. As outmoded as the Amendment may seem, it takes no great leap to apply its underlying principle to the current wars conducted by militarized law enforcement against terrorism and on “treasonous” crimes, such as money laundering. The individual comes first. The Fourth Amendment also champions privacy. It opens by defending “[t]he right of the people to be secure in their persons, houses, papers, and effects, against unreasonable searches and seizures.” In terms of crypto-privacy, the important word is “papers.” The reference can be easily extrapolated into the 21st century to cover emails and other computer data. Moreover, the disparate history of how the law has treated “papers” and “effects” reiterates the message of the Third Amendment. When it comes to “papers,” individual privacy prevails. That is, it has until recently. The Fifth Amendment also asserts the right to privacy by delineating the right of an individual not to bear “witness against himself” in criminal cases. Fifty-six colonists signed the Declaration of Independence. They knew it was an act of treason, which was punishable by death. If the revolution failed, they would lose their lives, their fortunes, and endanger their families. Even when it succeeded, some paid a terrible price. “Five signers were captured by the British and brutally tortured as traitors. Nine fought in the War …

Plus…Wendy McElroy: Privacy Is the Virtue That Sparked the American Revolution

Wendy McElroy: Privacy Is the Virtue That Sparked the American Revolution

Source : Wendy McElroy: Privacy Is the Virtue That Sparked the American Revolution The Satoshi Revolution: A Revolution of Rising Expectations. Section 2: The Moral Imperative of Privacy Chapter 6: Privacy is a Prerequisite of Human Rights Privacy is the Virtue that Sparked the American Revolution, Chapter 6, Segment 2 A general dissolution of principles and manners will more surely overthrow the liberties of America than the whole force of the common enemy. While the people are virtuous they cannot be subdued; but when once they lose their virtue then will be ready to surrender their liberties to the first external or internal invader. — Samuel Adams Many people are under attack from an internal invader: their government. Fortunately, history reveals a powerful weapon against the invasion. Privacy is the revolutionary virtue that caused American colonists to slam the door in the face of British officials, both literally and figuratively. The Third Amendment of the U.S. Constitution prohibits the then-widespread practice of quartering soldiers in private homes, even during peace time, without the consent of owners. The Amendment sounds antiquated to modern ears. But correction of this travesty’s violation of privacy and property was important enough for revolutionaries to rank third in the list of liberties declared by the Bill of Rights. It follows the First Amendment (freedom of speech and religion) and the Second Amendment (the right to bear arms.) Why? Because the Third Amendment asserted the right of domestic privacy against government intrusion into the most personal of realms – the home. It is the only language in the Constitution that addresses the relationship of the individual to the military, in both war and peace, and it gives priority to the individual. As outmoded as the Amendment may seem, it takes no great leap to apply its underlying principle to the current wars conducted by militarized law enforcement against terrorism and on “treasonous” crimes, such as money laundering. The individual comes first. The Fourth Amendment also champions privacy. It opens by defending “[t]he right of the people to be secure in their persons, houses, papers, and effects, against unreasonable searches and seizures.” In terms of crypto-privacy, the important word is “papers.” The reference can be easily extrapolated into the 21st century to cover emails and other computer data. Moreover, the disparate history of how the law has treated “papers” and “effects” reiterates the message of the Third Amendment. When it comes to “papers,” individual privacy prevails. That is, it has until recently. The Fifth Amendment also asserts the right to privacy by delineating the right of an individual not to bear “witness against himself” in criminal cases. Fifty-six colonists signed the Declaration of Independence. They knew it was an act of treason, which was punishable by death. If the revolution failed, they would lose their lives, their fortunes, and endanger their families. Even when it succeeded, some paid a terrible price. “Five signers were captured by the British and brutally tortured as traitors. Nine fought in the War …

Plus…Wendy McElroy: Privacy Is the Virtue That Sparked the American Revolution

Checking Out the BITMINE RIG-V6 (rev04) Mining Frame

Source : Checking Out the BITMINE RIG-V6 (rev04) Mining Frame For people that have been into mining for a couple of years already when it comes to mining rig frames there are not much secrets, they have already figured out what works best for their needs and have tweaked their designs a lot since the start. For people that are new or are just getting started with mining it is much easier to go for a readily available mining rig frame and add the hardware to it than to start figuring out the whole thing from the scratch. That is why we always love to check out some of these professional mining rig frames that have been improved and refined over time and are available for miners to help them get started faster and with better results by just adding the mining hardware. What we are going to be looking at now is one such product called BITMINE RIG-V6 (rev04) made by BITMINE.mn and available for sale. The BITMINE RIG-V6 (rev04) is a compact and easy to assemble and use mining rig frame for a single power supply and a up to 6x GPUs. It is a clever modular design that can easily be extended to 8x GPUs with an additional module and a second power supply, or up to 12x GPUs with a second frame. The price of the mining frame is 179 EURO for the standard version and there are discounts available for purchase of multiple units as well as for payment with crypto currencies (multiple supported). The frame comes mostly pre-assembled, so you will just need a few minutes until you are ready to start adding the mining hardware in it. The package contains all that you need probably besides a Philips screwdriver, though you probably won’t have trouble finding one of these at home anyway. The mining frame has a lot of clever ideas implemented, so that you can quickly and easily add or remove hardware to it without the need of tools or at least without many tools for the most part. There is a handle on top to make thing easy to move the whole thing around, even with its pretty compact size it is still much easier with a handle. The GPUs are mounted with reusable plastic holders where the screws usually go and their backplane locks in place on the other side in the frame, and at the back is a plastic holder to keep the GPU stable in place. The design is planned for a 2.5-inch SSD drive that attaches to a plate that you clip on the main frame on top of the PSU, though you can still use an M.2 SSD or a hard drive and place it somewhere in the build. There is a metal holder available for the PCI-E risers to make sure they do not move too much and cause stability issues or GPUs disappearing on a random base due to bad contact. Originally the stand …

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Tax Concerns in Preliminary Coin Choices

Source : Tax Concerns in Preliminary Coin Choices As a brand new asset class, tokens and cash are upending conventional funding in ever-changing new and inventive methods. This inventive destruction has been principally constructive, however typically tough as such capital increase buildings add an rising layer of complexity and danger that many issuers and traders haven’t beforehand encountered. Securities legal guidelines and tax concerns are two areas the place Preliminary Coin Choices (ICOs) have seen wholesome debate–and for good motive. Consequently, each regulators (SEC and IRS) and advisors (funding bankers and consultants) have been compelled to scramble as they search to play catch-up to the rapidly evolving trade panorama. Understanding how token choices are handled for tax functions, how they is likely to be structured and the way the providing needs to be timed can all be crucial concerns for issuers and traders alike. Right here, we focus on the main points at a excessive stage. As we do, be suggested: this isn’t tax, authorized or investing recommendation. Please search competent skilled advise when making authorized, tax and funding choices. Understanding the tax standing of a coin or token providing will present each issuers and traders extra clear perception into their determination making, permitting them to each profit. Particularly, each teams might take a extra crucial have a look at the construction of the corporate, the timing of the providing, the liquidity of the token, the usage of funds and the general incentives for traders. Taxing a Coin or Token Providing In response to the IRS, digital forex is property and handled a lot in a different way than money infusions for an fairness funding. When it comes taxation, the tokens or cash generated by an organization in an ICO will probably be taxed in accordance with property acquired at customary tax charges. Bear in mind, when an entity takes in an fairness funding, it’s handled as a foundation infusion into the enterprise and resides on the stability sheet and doesn’t move by means of income on the revenue and loss. When tokens are generated alternatively, there’s a taxable occasion, creating very differing incentives and desires for all events to a deal. For higher perception into the tax remedy for ICOs and cryptocurrency, the Unchained podcast’s interview with Tyson Cross and Jason Tyra has some nice perception. Within the podcast, they cowl a broad vary of subjects, however they sprinkle in some nice insights into taxation concerns for ICOs and token occasions. Contemplating Construction of the Entity C-corps and S-Corps are taxed very in a different way. C-corps are taxed at each the company stage and the shareholder stage. S-corps are flow-through entities whose shareholders are taxed on their private Ok-1.  Restricted Legal responsibility Corporations should not have their very own tax construction and elect to be taxed as both a C-corp or S-corp through IRS kind 2553. Because of the current modifications within the tax code, company taxes are as little as they’ve been in fairly a while. This …

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Georgia Lawmakers Introduce Bill to Allow Cryptocurrency Tax Payments

Source : Georgia Lawmakers Introduce Bill to Allow Cryptocurrency Tax Payments Two senators in the state of Georgia have brought forward a bill allowing the state department of revenue to accept both bitcoin and other yet-to-be-defined cryptocurrency payments for taxes and licenses. If passed, all payments would be covered to United States dollars within twenty-four hours.  Also see: Coinbase Notifies 13,000 Customers it Must Hand Over Their Records to… View Article

Georgia Lawmakers Introduce Bill to Allow Cryptocurrency Tax Payments

Source : Georgia Lawmakers Introduce Bill to Allow Cryptocurrency Tax Payments Two senators in the state of Georgia have brought forward a bill allowing the state department of revenue to accept both bitcoin and other yet-to-be-defined cryptocurrency payments for taxes and licenses. If passed, all payments would be covered to United States dollars within twenty-four hours.  Also see: Coinbase Notifies 13,000 Customers it Must Hand Over Their Records to… View Article

Gifting Bitcoin Is One Way a Person Can Avoid Paying Crypto-Taxes

Source : Gifting Bitcoin Is One Way a Person Can Avoid Paying Crypto-Taxes After the newly written U.S. tax laws recently passed, cryptocurrency investors realized the tax-free exemption filing 1031 for IRS reporting is no longer applicable to their digital asset investments. The law also implies that a lot of people will have to pay taxes on every single transaction they processed throughout the past twelve months. However, there is one loophole available to cryptocurrency investors, but it involves gifting the funds to another person or charity. Also read: How Dorian Nakamoto Became Satoshi Nakamoto Gifting Cryptocurrencies: The Only Crypto-Tax Loophole Robert Wood of Wood LLP. The U.S. government is concerned about getting its taxes from American citizens who have invested in cryptocurrencies. Last year the IRS started to probe businesses that deal with digital assets like the exchange Coinbase. For the moment the tax agency is looking for individuals and groups who have spent over $20,000 using Coinbase. Following this initial probe, the San Francisco exchange has started to send customers the IRS tax form 1099-K. Additionally, investors have realized that 1031 tax-free exchanges won’t apply to digital currencies, and every transaction is also considered a taxable event. Although, giving bitcoin as a gift is one way investors can avoid paying taxes on their cryptocurrency gains. Gifting money has to be more aligned with donating the funds as opposed to an employee bonus, and there is a fine line between the two financial events. According to Robert Wood, a tax lawyer based in San Francisco, an individual can gift up to $15,000 without documenting the transaction.   “If you give crypto to a friend or family member — to anyone really — ask how much it is worth. If the gift is worth more than $15,000, it requires you to file a gift tax return,” explains Wood.    For 2018, $15,000 is the amount of so-called “annual exclusion.” You can give gifts up to this amount each year to any number of people with no reporting required. U.S. Citizens Can Gift $11.2 Million Per Lifetime Dorian Nakamoto was gifted 67 BTC ($669,000 USD) after he was accused of being Satoshi Nakamoto. Wood details that the gift doesn’t trigger income tax requirements for both the giver and the recipient. If the recipient calculates gains or losses (cashes out) from the gift in the future, then the funds will be taxable based on the value the day the gifting happened. Wood details that documenting the gift is helpful because donating money is often written off improperly. If the donation exceeds $15K, then U.S. residents are required by law to file a ‘gift tax return.’ “For 2018, $15,000 is the amount of so-called ‘annual exclusion,’” Wood details. Further, Wood explains that in 2018 the amount a person or married couple can give per lifetime has increased quite a bit. According to the tax attorney, a person can gift up to $11.2 million tax-free during their lifetime, and married couples can gift up to …

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Georgia Bill to Allow Tax Payments with Cryptocurrency

Source : Georgia Bill to Allow Tax Payments with Cryptocurrency Georgia may be joining the few states that will allow for the use of cryptocurrency to make tax payments if Senate Bill 464 passes. A growing number of US states are opening up to accepting cryptocurrency. Doubtless they wish to reap some of the financial benefits that the crypto world has to offer. This is totally understandable as the market capitalization for virtual currency stands at almost $444 billion at the time of writing. As such, states want to showcase that they are technology and innovation-friendly, as well as get a slice of the virtual economy pie. The latest state to jump on board is Georgia, which is considering a bill that will allow cryptocurrency to be used for tax payments. Virtual Currency is Peachy The Georgia bill in question is Senate Bill 464, and it was proposed by state Senators Joshua McKoon and Michael Williams. The gist of the bill is that it will allow the commissioner of the Georgia Department of Revenue the ability to accept Bitcoin and other virtual currencies from citizens paying their license fees and tax bills. Senate Bill 464 states: The commissioner may receive in payment of taxes and license fees personal, company, certified, treasurer’s, and cashier’s checks and bank, postal, and express money orders to the extent and under the conditions which he the commissioner may reasonably prescribe by regulations or instructions. The commissioner shall accept as valid payment for taxes and license fees any cryptocurrency, including but not limited to Bitcoin, that uses an electronic peer-to-peer system. Some Interesting Takeaways There are a couple of interesting features to Georgia Senate Bill 464. The first is that any law and parts of laws in conflict with the bill are automatically repealed. This should simplify matters a bit in regards to crypto and tax payments. The second tidbit is that the state will convert the cryptocurrency into US dollars within 24 hours after receiving them. The converted amount will be credited to the taxpayer’s account. Such a move means that volatility will still have an impact, albeit limited, upon the transaction paid. It also shows that the state of Georgia is not planning on using virtual currencies as a store of value. A Smart Move It makes sense for Georgia to hop on board the crypto train. The state has been pretty savvy in economic matters for quite some time. One example is the film industry. Georgia is the number one filming location in the world now due to movies and TV shows like The Walking Dead. The film industry generated $9.5 billion in economic impact for Georgia in 2017. As such, opening up to the world of cryptocurrency helps keep the state in the forefront of innovative trends. Who knows? Some films in the future shot in Georgia may be entirely underwritten by Bitcoin or some other virtual currency. As it is, Georgia has added itself to the growing list of states eager …

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Liberland: The self-proclaimed free Country bases its Economy on Cryptocurrency

Source : Liberland: The self-proclaimed free Country bases its Economy on Cryptocurrency If there is an example of perseverance in the diplomatic world, Liberland may be one of the cases that should be taken into account. Vít Jedlička, a man determined to forge his destiny (free of any government administrations with which he did not agree), decided to take one step forward and in an act of rebellion, “founded” a country where his inhabitants shared the same values as he did. But this initiative, which began in 2015, grew in quality and quantity to the extent that it received over 200,000 citizenship applications , and today, they already have a legal system strong enough for a micronation, with no real population, but with an idea shared by hundreds of thousands. But beyond that, the country wants to grow in functionality, and for that reason in each citizenship application they request information about the applicant’s willingness to move their business and invest in the country, the amount of taxes they would like to pay and the donation they would be willing to contribute to the country’s consolidation expenses (administration, legal disputes, social events, diplomacy, media, etc.). It could be said that Liberland transferred to the field of international diplomacy, a struggle similar to that which Bitcoin initiated in the economic field. So if you are an enthusiast of cryptocurrencies and you feel that the government of your country does not represent your interests an investment in the development of Liberland could be interesting at least as far as the philosophical aspect is concerned. However, Liberland may also be of interest to speculators as it announced the creation of its own cryptocurrency: Merit, and reward those who invest with an amount of this crypto-money. In the event that its credibility grows, the merit marketcap will increase, resulting in gains for traders. Within the application, there is an opportunity to list the profession to be practiced, the industry to be developed or the economic activity to be exercised. For this purpose, a donation will be made and later converted into crypto money, being this the common means of exchange of the country that will not have a Central Bank. So far, no country has taken Liberland’s initiative seriously. The land is located in a disputed area between Croatia and Serbia, with no real settlement so far. But its inhabitants could have some hope through the interpretation of the Law. An article published by The Chicago Journal of International Law states: “Croatia’s insistence that Liberland is part of Serbia could constitute a renunciation of Croatia’s legal rights to Liberland. Conversely, if the territory that Liberland claims as its own is Serbian, the Serbian government’s renunciation of its title to that land could also be a quitclaim that would transform the legal status of the land to terra nullius. In both instances, the territory would belong to the first entity -in this case Liberland- to claim it.” So every day there are more and more rebels …

Plus…Liberland: The self-proclaimed free Country bases its Economy on Cryptocurrency

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