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Sweden Tax Authorities Announces Income Tax Guidelines for Bitcoin Miners

Bitcoin feeds -

A one-month old circular from Swedish Tax Authority Skatteverket on how to declare income from Bitcoin mining business was emerged recently. The circular was originally released on April 24th 2015, right before the May 4th tax filling deadline, but went highly unnoticed. It was only when the US Library of Congress intervened, and published a reworded document of the circular on its website, the new Swedish law came to […]

Streamium Borrows from Bitcoin to Create Decentralized Video Streaming Service

Bitcoin feeds -

A group of veteran developers recently harnessed the Bitcoin technology to create Streamium, a decentralized pay-as-you-go video streaming platform. So often it happens that the viewers leave the paid video streaming in midway. It subsequently ends up divesting the broadcaster from being paid — even for the part that was consumed by the viewer. They [the broadcasters] therefore choose to operate via trusted companies, such as Netflix, that offer marketing, […]

Ask Slashdot: Can SaaS Be Both Open Source and Economically Viable?

Slashdot -

An anonymous reader writes: The CTO behind Lucidchart, an online diagramming app, recently cited the open source rbush project as an invaluable tool for helping implement an "in-memory spatial index" that "increased spatial search performance by a factor of over 1,000 for large documents." My question is this: what risks does a SaaS company like Lucidchart face in making most of their own code public, like Google's recent move with Chrome for Android, and what benefits might be gained by doing so? Wouldn't sharing the code just generate more users and interest? Even if competitors did copy it, they'd always be a step behind the latest developments.

Read more of this story at Slashdot.

The Coming Great Reset—–Historically Aberrant Profit Margins Will Come Down

Bitcoin feeds -

CHAPEL HILL, N.C. (MarketWatch) — Watch out if corporate-profit margins narrow to their long-term average share of gross domestic product. If so, the SP 500 Index would trade at less than 1,700 in five years, a decline of more than 20%. I\'m not necessarily forecasting such a dismal eventuality, though it\'s in the realm of possibility. I merely point it out to illustrate how dependent the stock market is on wide profit margins. Few seem to be focusing on this vulnerability. Take the discussion about George Mason University professor Tyler Cowen\'s Friday column in The New York Times. Cowen discusses the possibility of a “Great Reset” as it collectively dawns on us that what workers in the future will earn a lot less than they did in the past. Yet I\'ve not seen any mention in these discussions about Wall Street, where corporate profitability has been soaring even as wages struggle. Wall Street needs to squarely face the possibility of a Great Reset of its own. If corporate-profit margins shrink even halfway to their long-term average, investors would suffer significant losses in coming years. There is more than one way of calculating the average profit margin of corporate America, and each approach has defects. For the chart at the top of this column, I used a simple ratio of corporate-after-tax-profits to GDP, which shows the latest profit margin to be 8.7%. Though lower than 10.1% from a couple of years ago, the current level is still two standard deviations above the six-decade average of 6.3%. To calculate what would happen if corporate profitability falls back to that average, I made a number of assumptions. For example, I assumed that this return to average takes five years. I also assumed that the SP 500\'s price-to-earnings ratio stays constant, which is a generous assumption sinceOriginally appeared at: http://davidstockmanscontracorner.com/the-coming-great-reset-historically-aberrant-profit-margins-will-come-down/The Coming Great Reset—–Historically Aberrant Profit Margins Will Come Down is a story from: BitcoinWarrior.net

The Coming Great Reset—–Historically Aberrant Profit Margins Will Come Down is a story from: BitcoinWarrior.net

The post The Coming Great Reset—–Historically Aberrant Profit Margins Will Come Down appeared first on Bitcoin Warrior.

Superintendent Lawsky to Leave the NYDFS and Start Consulting Business …

Bitcoin feeds -

The Wall Street Journal reports that Benjamin Lawsky, the superintendent of the New York Department of Financial Services (NYDFS) who is expected to issue this month a new regulation for digital currency businesses called BitLicense, which has been widely criticized for being unnecessarily strict, will leave the NYDFS in June. Lawsky said that he will form a consulting business that will include virtual currency advisory services. “[Lawsky] plans to advise companies on financial matters such as cybersecurity and digital currencies like bitcoin, a new sphere of regulation he helped spearhead in New York,” reports the New York Post. In a recent Medium post titled “How to Prevent New York from Becoming the Bitcoin Backwater of the U.S.,” MIT Digital Currency Initiative lead Brian Forde issued a clear warning that the current BitLicense text has fundamental flaws. The Bitcoin policy think tank Coin Center expressed similar concerns. The Wall Street Journal notes that Lawsky\'s rules, likely to be released next week, could hinder innovation among small tech startups with limited resources by imposing too-high compliance costs. In particular, according to the MIT Digital Currency Initiative analysis, Bitcoin companies would be required to get both a money transmitter license and a BitLicense — even though the two licenses have substantial overlapping requirements. Furthermore, compliance with BitLicense would be required for operations that don\'t control customers\' funds, and even for software development work. The Cato Institute, a public policy research organization with a libertarian orientation, bluntly denounces Lawsky\'s move. “[If] history is any guide, Ben Lawsky will be able to use the name he made attacking Bitcoin to wend his way into the Bitcoin business world,” notes Cato Senior Fellow Tim Harper. “Because of the contacts he made as a regulator, he can hire himself out to Bitcoin companies wanting to signal toOriginally appeared at: https://bitcoinmagazine.com/20533/superintendent-lawsky-to-leave-the-nydfs-and-start-consulting-business-cato-institute-cries-foul/Superintendent Lawsky to Leave the NYDFS and Start Consulting Business … is a story from: BitcoinWarrior.net

Superintendent Lawsky to Leave the NYDFS and Start Consulting Business … is a story from: BitcoinWarrior.net

The post Superintendent Lawsky to Leave the NYDFS and Start Consulting Business … appeared first on Bitcoin Warrior.

California authorities halt cryptocurrency regulation, ask for new dedicated …

Bitcoin feeds -

The California Department of Business Oversight (DBO) has decided it won\'t be regulating cryptocurrency under the current law. Instead, the authority will ask the legislature to create dedicated rules for Bitcoin and other types of digital money. Whether and how to regulate the world\'s most famous digital coin is still a matter of debate for most experts around the world. That is probably why the California Department of Business Oversight has decided not to regulate Bitcoin under the existing law, even though it has legal authority over it, spokesman Tom Dresslar said. The DBO has the mission to protect consumers and oversee financial service providers and products, while also supervising the operations of state-licensed financial institutions, including banks, credit unions and money transmitters. Additionally, the department licenses and regulates numerous financial service providers, including securities brokers and dealers, investment advisers, payday lenders and other consumer finance lenders. Around 60,000 businesses based in the United States accept Bitcoin as a payment option. The cryptocurrency is used to perform over 100,000 transactions a day in the country, according to the Bitcoin Foundation. But, if regulators aren\'t happy with their task in California, in New York the situation is completely different. The state\'s Department of Financial Services recently granted the exchange itBit an LLC, a license that allows the company to legally trade in all 50 states. It took the company almost a year to be granted the license, turning itBit into the country\'s first fully regulated Bitcoin exchange. Originally appeared at: http://99bitcoins.com/california-authorities-halt-cryptocurrency-regulation-new-dedicated-legislature/California authorities halt cryptocurrency regulation, ask for new dedicated … is a story from: BitcoinWarrior.net

California authorities halt cryptocurrency regulation, ask for new dedicated … is a story from: BitcoinWarrior.net

The post California authorities halt cryptocurrency regulation, ask for new dedicated … appeared first on Bitcoin Warrior.

Astoria — Advanced Tor Client Designed to Avoid NSA Attacks

The Hacker News -

In response to the threat of intelligence agencies like NSA and GCHQ, Security researchers from American and Israeli academics have developed a new advanced Tor client called Astoria specially designed to make eavesdropping harder. Tor (The Onion Router) is the most popular anonymity network that is intended to allow a user to browse the Internet anonymously via a volunteer network of more

Death In the Browser Tab

Slashdot -

theodp writes: "There you are watching another death on video," writes the NY Times' Teju Cole. "In the course of ordinary life — at lunch or in bed, in a car or in the park — you are suddenly plunged into someone else's crisis, someone else's horror. It arrives, absurdly, in the midst of banal things. That is how, late one afternoon in April, I watched Walter Scott die. The footage of his death, taken by a passer-by, had just been published online on the front page of The New York Times. I watched it, sitting at my desk in Brooklyn, and was stunned by it." Cole continues, "For most of human history, to see someone die, you had to be there. Depictions of death, if there were any, came later, at a certain remove of time and space." Disturbing as they may be (Cole notes he couldn't bear to watch the ISIS beheading videos), such images may ultimately change things for the better. Is it better to publish them than sweep them under the carpet?

Read more of this story at Slashdot.

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