4 ms·

hmm so how will they outlaw bartering? But than again the derivative traders, they are allowed to make free money and steal without any change..

by shareme 15y ago

hugh3 15y ago
Sorry shareme, but this is pretty much a perfect example of a bad HN comment. hmm so how will they outlaw bartering? Unjustified logical leap. But than again the derivative traders Misspelling. they are allowed to make free money and steal Nonsensical accusation against a group of people engaged in an activity which I'm not sure you fully understand. without any change.. Incomprehensible. Please think before you type.
- bxr 15y ago
  >which I'm not sure you fully understand. Ah, condescension, now that is a perfect example of a typical HN comment.
  - tptacek 15y ago
    Is he wrong? How is he wrong?
    - cromulent 15y ago
      I don't think bxr is saying that hugh3 is wrong. He's saying that he is being condescending (although I'm not so sure this is typical). I guess hugh3 could have just said "Nonsensical accusation" and his point that it was "pretty much a perfect example of a bad HN comment" might have been even stronger without speculation on shareme's level of understanding of derivative trading.
      - tptacek 15y ago
        Sure, but 'hugh3 didn't write that comment to be mean. He's making an example out of something that really is an example of one of the archetypical thread-disrupting issue-forking politics-inducing conspiracy-theoretic superficial toxic comments. That's what I see there. You can obviously disagree.
        cromulent 15y ago
        I actually think we are in agreement.
  - Helianthus 15y ago
    Ah, the snide counter to condescension, &etc.
    - mustpax 15y ago
      Let me add some nitpicking to complete the obnoxious HN trifecta. The proper ortographic representation of etc is &c. In fact, that's where the ampersand comes from (think ligature form of Et).
      - Helianthus 15y ago
        I appreciated this, actually. It's funny how just being in a negative tree gets you downvoted by association--good thing it's just karma, eh?
        mustpax 15y ago
        To be fair, it's less that we're in a negative tree and more that we're not adding value to the discussion.
        Helianthus 15y ago
        Yeah, but I didn't expect people to take it so _personally._ (Or maybe I do, but I unconsciously resent how serious we are and fight it by taking a few downvotes every so often.)
- burgerbrain 15y ago
  As far as I can tell, the suggestion that they might as well soon go about outlawing bartering is a sound one. Neither bartering nor bitcoins use US minted currency, both cannot be traced unless the participants volunteer that information, and both arguably can be used for "tax evasion". I'm not trained in tax law, but it wouldn't really surprise me if legally citizens were mandated to report barters on their taxes. Furthermore, both can be used to acquire drugs. Of course, bartering is at this point far more popular for that... "Misspelling." Seriously dude? This isn't slashdot.
  - omouse 15y ago
    both arguably can be used for "tax evasion" You can use US minted currency for tax evasion as well.
    - burgerbrain 15y ago
      Exactly.
    - william42 15y ago
      And that's illegal as well.
      - omouse 15y ago
        So? It doesn't stop it from being done. Legality != prevention/deterrance.
  - hugh3 15y ago
    As far as I can tell, the suggestion that they might as well soon go about outlawing bartering is a sound one. Neither bartering nor bitcoins use US minted currency, both cannot be traced unless the participants volunteer that information, and both arguably can be used for "tax evasion". I'm not trained in tax law, but it wouldn't really surprise me if legally citizens were mandated to report barters on their taxes. The IRS, unsurprisingly, is way ahead of you on this one http://www.irs.gov/taxtopics/tc420.html http://www.irs.gov/taxtopics/tc420.html and in fact you are obliged to report bartering income on your US taxes. Bartering, of course, remains perfectly legal, as long as you report it on your taxes. Of course the IRS doesn't bother to enforce this on small-scale bartering. But if you set up a large-scale bartering network then they would. If you went one step further and threw in an intermediary system of "credits" so that transactions could take place indirectly (instead of swapping pigs for goats you swap pigs for credits and credits for goats) then they'd consider that as minting currency and take a rather dim view.
ghoerz 15y ago
Actually, bartering is already covered in the US tax code. You're supposed to claim the fair market value of the goods/ services you received as income. http://www.irs.gov/taxtopics/tc420.html http://www.irs.gov/taxtopics/tc420.html

hmm so how will they outlaw bartering? But than again the derivative traders, they are allowed to make free money and steal without any change..

by shareme 15y ago

hmm so how will they outlaw bartering? But than again the derivative traders, they are allowed to make free money and steal without any change..

hugh3 15y ago

Sorry shareme, but this is pretty much a perfect example of a bad HN comment. hmm so how will they outlaw bartering? Unjustified logical leap. But than again the derivative traders Misspelling. they are allowed to make free money and steal Nonsensical accusation against a group of people engaged in an activity which I'm not sure you fully understand. without any change.. Incomprehensible. Please think before you type.

bxr 15y ago
>which I'm not sure you fully understand. Ah, condescension, now that is a perfect example of a typical HN comment.
- tptacek 15y ago
  Is he wrong? How is he wrong?
  - cromulent 15y ago
    I don't think bxr is saying that hugh3 is wrong. He's saying that he is being condescending (although I'm not so sure this is typical). I guess hugh3 could have just said "Nonsensical accusation" and his point that it was "pretty much a perfect example of a bad HN comment" might have been even stronger without speculation on shareme's level of understanding of derivative trading.
    - tptacek 15y ago
      Sure, but 'hugh3 didn't write that comment to be mean. He's making an example out of something that really is an example of one of the archetypical thread-disrupting issue-forking politics-inducing conspiracy-theoretic superficial toxic comments. That's what I see there. You can obviously disagree.
      - cromulent 15y ago
        I actually think we are in agreement.
- Helianthus 15y ago
  Ah, the snide counter to condescension, &etc.
  - mustpax 15y ago
    Let me add some nitpicking to complete the obnoxious HN trifecta. The proper ortographic representation of etc is &c. In fact, that's where the ampersand comes from (think ligature form of Et).
    - Helianthus 15y ago
      I appreciated this, actually. It's funny how just being in a negative tree gets you downvoted by association--good thing it's just karma, eh?
      - mustpax 15y ago
        To be fair, it's less that we're in a negative tree and more that we're not adding value to the discussion.
        Helianthus 15y ago
        Yeah, but I didn't expect people to take it so _personally._ (Or maybe I do, but I unconsciously resent how serious we are and fight it by taking a few downvotes every so often.)
burgerbrain 15y ago
As far as I can tell, the suggestion that they might as well soon go about outlawing bartering is a sound one. Neither bartering nor bitcoins use US minted currency, both cannot be traced unless the participants volunteer that information, and both arguably can be used for "tax evasion". I'm not trained in tax law, but it wouldn't really surprise me if legally citizens were mandated to report barters on their taxes. Furthermore, both can be used to acquire drugs. Of course, bartering is at this point far more popular for that... "Misspelling." Seriously dude? This isn't slashdot.
- omouse 15y ago
  both arguably can be used for "tax evasion" You can use US minted currency for tax evasion as well.
  - burgerbrain 15y ago
    Exactly.
  - william42 15y ago
    And that's illegal as well.
    - omouse 15y ago
      So? It doesn't stop it from being done. Legality != prevention/deterrance.
- hugh3 15y ago
  As far as I can tell, the suggestion that they might as well soon go about outlawing bartering is a sound one. Neither bartering nor bitcoins use US minted currency, both cannot be traced unless the participants volunteer that information, and both arguably can be used for "tax evasion". I'm not trained in tax law, but it wouldn't really surprise me if legally citizens were mandated to report barters on their taxes. The IRS, unsurprisingly, is way ahead of you on this one http://www.irs.gov/taxtopics/tc420.html http://www.irs.gov/taxtopics/tc420.html and in fact you are obliged to report bartering income on your US taxes. Bartering, of course, remains perfectly legal, as long as you report it on your taxes. Of course the IRS doesn't bother to enforce this on small-scale bartering. But if you set up a large-scale bartering network then they would. If you went one step further and threw in an intermediary system of "credits" so that transactions could take place indirectly (instead of swapping pigs for goats you swap pigs for credits and credits for goats) then they'd consider that as minting currency and take a rather dim view.

ghoerz 15y ago

Actually, bartering is already covered in the US tax code. You're supposed to claim the fair market value of the goods/ services you received as income. http://www.irs.gov/taxtopics/tc420.html http://www.irs.gov/taxtopics/tc420.html