Tax/accountant/solicitor specialising in cryptocurrencies

Discussion in 'Accounting & Tax' started by eggnog, 16th Dec, 2017.

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  1. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    I think a couple of publich servants would have set up some mining machines in the office basement by now.
     
  2. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    That may explain the instability of the tax office and Human Services systems
     
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  3. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    I have heard of a friends friend who works in the ATO in canberra, he brings his own laptop and internet connection to work so he can trade shares and do other personal things on work time.
     
  4. Mike A

    Mike A Well-Known Member

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    More productive than many others doing the same thing but on facebook.

    Best i heard was a work from home IT consultant who outsourced his work to another group and travelled the world checking their work and then submitting it as his own. Apparently did it for 3 years before being busted.
     
  5. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    Only fair since the ATO will tax the profit. They are his business partner ?
     
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  6. Laker

    Laker Well-Known Member

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    The usd, Japanese yen, euro are floating currencies much like bitcoin. The aud however is fixed.

    Bitcoin is currently finding its value. It’s value is much higher than the usd. Unlike the usd it can’t be inflated. More cannot be made by money Hungry governments.

    How does the fact that some piece of plastic with a 10 printed on it classify it as a currency?
    Gold was used to back currency in the US until 1933. Now it is backed by nothing, printed at will. Every developed country in the world is in debt. Where does all this money come from?? It is non existent. Where do you think all this is going to end?

    Anyone is welcome to examine the bitcoin code only 21,000,000 can ever be mined.
    Have you read the bitcoin white paper? It was produced for illegal transactions??? Not sure which white paper you red?
     
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  7. Sannie

    Sannie Well-Known Member

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    Most have Kpi's to achieve. I doubt he can keep up with his performance unless he is a real multitasking Macho. Also APS jobs takes privacy very seriously I doubt how true could that be.
     
  8. dabbler

    dabbler Well-Known Member

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    It is far from new, but when you see so many new posts on a property forum and normal media in a matter of a few weeks, this specialist advises stay away :)

    Oh, and how keen is everyone with the drop today ?

    It is the dot com boom craze x 1000
     
  9. Laker

    Laker Well-Known Member

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    Agreed. It has a long way to go yet though. The dot com market cap was in the trillions. Crypto is still only 600 million. I’d say we’re not even half way.
    Bitcoin is not a bubble. The bubble is the thousands of useless coins and ICO’s people are pouring their money into. A different alt coin is quadrupling in value every week. Most of these coins won’t be around in a year or two as soon as the bubble pops. Bitcoin and the top 5 or so will be and will be worth 10x their current value.
     
  10. XBenX

    XBenX Well-Known Member

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    Aud fixed? Are you using a non traditional definition of fixed? The Aud has been floating since 1983.
     
  11. dabbler

    dabbler Well-Known Member

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    Yep, thanks to Keating.
     
  12. XBenX

    XBenX Well-Known Member

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    I just wonder if there is a different meaning that I am missing.
     
  13. Laker

    Laker Well-Known Member

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    Right you are! So bitcoin is a currency then?
     
  14. Mike A

    Mike A Well-Known Member

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    Depends on definition of currency. Money is a medium of exchange which bitcoin is. Currency is legal tender. Bitcoin doesnt meet that definition except in japan.
     
  15. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    Aus currency is not a direct currency. It is floated at a usd rate. There are 4 direct currencies of which usd is one. All also have indirect exchange ...referred to as cross currency rates. Arbitrage seeks to ensure direct indirect and cross rates align.
     
  16. chi.lam

    chi.lam Well-Known Member

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