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MK802 IV Linux mini PC giveaway

Liliputing -

People have been loading Ubuntu and other Linux distributions onto Android TV sticks for about as long as these cheap ARM-based devices have been available. But the Rikomagic MK802 IV LE is one of the first models to come with Ubuntu pre-loaded.

That basically makes the MK802 IV LE a small desktop computer. How small? You can fit it in the palm of your hand, slide it into your pocket, or plug the whole thing into the HDMI port of your monitor or TV.

But it’s powerful enough to run a full Linux desktop environment and handle desktop apps including Firefox, GIMP, or office software.

The folks at Rikomagic UK sent me a demo unit to test recently, and now that I’m done, it’s time for another giveaway!

This contest is for one MK802 IV LE mini-computer with a custom version of Ubuntu 13.04 called PicUntu. The device features a Rockchip RK3188 ARM Cortex-A9 quad-core processor, Mali 400 graphics, 2GB of RAM, a microSd card slot, WiFi, an HDMI connector, a full-sized USB port, and 2 micro USB ports (one of which is reserved for the power adapter.

RikoMagic UK sells these miniature Linux PCs for £79.99 and up, (about $130 US).

Here’s how to get one for free:

Leave a comment on this article by 6:00AM on Sunday, 12/29/2013

That’s the hard part. Here’s a bit of fine print:

  • A winner will be selected randomly from the pool of valid entries.
  • The contest is open to residents of the United States (or anyone with a valid US shipping address).
  • If you’ve won another Liliputing contest in the past 30 days, you’re disqualified from winning this giveaway, so please don’t bother trying to enter.
  • Liliputing writers and close friends or family members thereof are also disqualified.
  • Make sure to use a valid email address, Twitter, Google+ or Facebook account to leave your message so that we have a way of contacting you — and make sure to check your messages after the conclusion of the contest.
  • Once notified, the winner will have 48 hours to respond. If we don’t hear back within 2 days, we’ll pic another name.

Thanks again to Rikomagic for providing us with the MK802 IV LE!

MK802 IV Linux mini PC giveaway is a post from: Liliputing

Declaring Bitcoin Income Part 3- Bitcoin As An Asset

Bitcoin Magazine -

This is the third part of a multi-part series that will discuss how to declare Bitcoin income on US personal or business income tax returns. What follows are my professional opinions and should not be construed as tax or accounting advice. Instead, the articles in this series should be used as the starting point for a discussion with your tax accountant about your personal situation.

 The IRS must answer two questions with regard to virtual currencies: what is their classification and when are gains or losses realized for the purpose of taxation? The first question has bearing on the rate that would apply in situations when Bitcoins are not received in connection with a trade or business or as wages. The second question relates to when gains must be declared or losses can be claimed.

 The essence of Bitcoin is its use as a medium of exchange. Bitcoin behaves like currency, is used by both merchants and consumers as a currency and is denominated and can be subdivided like a currency. Its value is almost always stated with reference to currency. At least one agency of the Treasury Department, the Financial Crimes Enforcement Network, has publicly stated its belief that Bitcoin exchanges fall into the category of money servicers (that is, businesses that exchange or transfer currency) and its intent to regulate them as such. Therefore, the case for Bitcoin as something other than currency is fairly weak, but that does not rule out the possibility that the final regulations will turn out that way or that regulators will develop some sort of hybrid category for virtual currencies that combines various aspects of multiple asset classes.

 The second part of this series discussed situations in which Bitcoin transactions would definitely be considered ordinary income and also possible tax treatment for Bitcoin as a currency. For almost all US taxpayers, the functional currency for tax reporting is the US Dollar (the exception would be business taxpayers with a qualified business unit, or QBU). Usually, “foreign currency” means the recognized legal tender of a nation-state or central bank. Since Bitcoin clearly does not fall into this category, the Treasury may ultimately decide that it should be treated as some kind of asset other than currency. Several countries besides the United States, notably several EU member states, have already determined that Bitcoin is a non-currency asset, though differences in tax treatment between Europe and the United States are not uncommon.

The IRS defines two types of assets for income tax purposes – capital assets and non-capital assets. All property held by a taxpayer, whether or not connected with a trade or business, is considered a capital asset, except for stock in trade, inventories, real property used in a trade or business, intellectual property in the hands of its creator, accounts receivable, and commodities derivative financial instruments in the hands of recognized dealers in said instruments.  Excepted property is considered a non-capital asset. The most relevant difference between the two is that proceeds from the sale or exchange of capital assets enjoy capital gains treatment under certain circumstances. However, disposals of capital assets are also subject to capital loss limits – currently the lesser of $3,000 or the amount of offsetting capital gains per year for individuals (corporations are not subject to the $3,000 limit, but are subject to the offsetting gains limit).

 The Internal Revenue Code does not recognize commodities as a separate class of asset. Commodities (or usually the option or forward contracts that represent them) are capital assets to individuals other than brokers and dealers (to whom they are non-capital assets). Under almost all circumstances, the description of Bitcoin as a “commodity” by the IRS would cause it to be a capital asset to an individual. Bitcoins received in connection with a trade or business would still be treated as ordinary income at the time of receipt. Gains or losses realized later under this scenario would receive capital gain/loss treatment.

 Taxpayers who either hold Bitcoin long term or who trade Bitcoin in order to take advantage of the volatility and who are not commodities brokers/dealers may be in a position for their income to be treated as a capital gain instead of ordinary income. In order to take the capital gain rate, taxpayers must be prepared to show that they held the associated asset for at least one year – not an easy task for Bitcoin, even when traders are careful with their record keeping. There is a technical reason that this may not even be possible for most Bitcoin traders: in the interest of efficiency, the Bitcoin protocol deliberately uses the smallest blocks of coins possible when a transfer is recorded. This means that investors can neither control nor even determine which lot or lots of Bitcoins were traded at any given time. Nevertheless, the IRS may ultimately allow either some form of synthetic lot tracking or the use of an inventory method such as FIFO or LIFO for calculating gains. Refer to the first part of this series for information about maintaining proper records.

 Since January 1, 2011, brokers have been required to report transaction information by lot to the IRS each year on form 1099-B (and provide this to their customers at tax time). Bitcoin doesn’t presently have brokers to keep up with this information or report it to the IRS, though it is not unlikely that the exchanges would eventually be required to report this information if Bitcoin endures.

 The IRS may not have figured Bitcoin out yet, but most of the situations encountered by individual and business taxpayers when dealing with Bitcoin are readily comparable to other types of transactions for which an extensive body of governing regulations and case law already exist. Until the regulations for virtual currencies are written and released, Bitcoiners remain free to choose how and when to report gains at tax time. As long as the position taken is reasonable under the circumstances and is consistently applied, taxpayers would be well advised to select the position that results in the lowest overall tax burden.

The post Declaring Bitcoin Income Part 3- Bitcoin As An Asset appeared first on Bitcoin Magazine.

HP quietly launches 11.6 inch Pavilion x2 2-in-1 PC with Pentium N3510 CPU

Liliputing -

The HP Pavilion x2 11t is a Windows tablet with an 11.6 inch display and a detachable keyboard dock that transforms the tablet into a notebook. Without much fanfare, HP started selling the Pavilion x2 11t in late November 2013 for about $600 and up.

While there are plenty of 2-in-1 tablet/notebook hybrids on the market these days, this model manages to stand out thanks to its processor: The HP Pavilion x2 11t is one of the first computers to ship with an Intel Pentium N3510 processor.

Intel’s Pentium N3510 chip is based on the same Silvermont architecture as Intel Atom Bay Trail chips like the processors found in the Asus Transformer Pad T100 and Dell Venue 8 Pro tablets.

Like those tablets, the HP Pavilion x2 11t has a low-power, moderate-performance chip. But the Pentium N3510 should be noticeably faster than those Atom chips. It’s a 22nm processor with a TDP (Thermal Design Power) of 7.5 watts and SDP (Scenario Design Power) of 4.5 watts.

In other words, the processor should consume about 4.5W during average use. That’s compared with 2W for an Intel Atom Z3740 or Atom Z3770 Bay Trail processor. The Pentium chip also supports up to 8GB of RAM, while the Atom chips top out at 4GB. It’s one of the most powerful Silvermont/Bay Trail chips designed for notebooks or tablets (there are higher-powered Bay Trail-D chips, but they’re designed for desktops).

All told, that means that while HP’s new 11.6 inch tablet isn’t exactly a speed demon, it should be faster than a Transformer Book T100, while offering similarly long battery life — HP says the tablet should get up to 8 hours, 45 minutes of run time (although it’s not clear if that’s with or without the keyboard base station connected — the keyboard has its own battery).

Other specs for the HP Pavilion x2 11t include 4GB of RAM, 64GB to 128GB of storage, 802.11b/g/n WiFi, a USB 3.0 port, a USB 2.0 port, HDMI output, 4 speakers, and a headset jack.

It has an 11.6 inch, 1366 x 768 pixel display and the tablet measures 0.46 inches thick and weighs 1.7 pounds. Add the keyboard base and the whole laptop weighs about 3.3 pounds and measures 0.9 inches thick.

HP quietly launches 11.6 inch Pavilion x2 2-in-1 PC with Pentium N3510 CPU is a post from: Liliputing

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