Article

2017-11-15 -Land of the Free

From Twitter: Ethereum Comes Out As Commie

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Posted by charger 2017-11-15 00:00|| || Front Page|| [11127 views ] Top

#1 If only anyone had bothered to define etherum, or explain why I should care.

Posted by Herb McCoy7309 2017-11-15 00:08|| 2017-11-15 00:08|| Front Page Top

#2 According to the pretty picture at their website, Herb McCoy7309, they're a blockchain app. Blockchain seems to be the hot new thing, which is no doubt why I have no idea what it is.

Posted by trailing wife 2017-11-15 00:48|| 2017-11-15 00:48|| Front Page Top

#3 From Infogalactic

Ethereum is an open-source, public, blockchain-based distributed computing platform featuring smart contract (scripting) functionality.

It provides a decentralized Turing-complete virtual machine, the Ethereum Virtual Machine (EVM), which can execute scripts using an international network of public nodes.

Ethereum also provides a cryptocurrency token called "ether", which can be transferred between accounts and used to compensate participant nodes for computations performed.

The founder, Vitalik Buterin, is no prize , either.

Posted by charger 2017-11-15 01:13|| 2017-11-15 01:13|| Front Page Top

#4 I wonder will investors...
Lose faith in Blockchain for a bit
OR
Rotate out of Etherium (forever it won't recover from this) and into Bitcoin

Posted by Bright Pebbles 2017-11-15 06:45|| 2017-11-15 06:45|| Front Page Top

#5 I've never trusted cryto-currency but then I don't trust the Federal Reserve either. I do like the idea of bypassing the Fed with cryto-currency but the kinks don't seem to have been worked out. Speculative swings and hacking among other things.

Posted by JohnQC 2017-11-15 09:16|| 2017-11-15 09:16|| Front Page Top

#6 Worse, the feds have decided that Ethereum, Bitcoin, and other crypto “currencies” are actually securities. That means every transaction (say, to pay for lunch) is a taxable event, with a capital gain or loss to be declared on your tax return.

Posted by KBK 2017-11-15 10:06|| 2017-11-15 10:06|| Front Page Top

#7 That means every transaction (say, to pay for lunch) is a taxable event, with a capital gain or loss to be declared on your tax return.

That's the way I've been treating it on tax returns, even though I don't get a 1099-B like you would with a normal stock transaction. That may have changed since 2015, though.

Posted by Raj 2017-11-15 11:39|| 2017-11-15 11:39|| Front Page Top

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