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I agree with you, but were you to bet like that, you'd need only one win to come out ahead assuming you double your stake with each loss.

Of course 9 tails doesn't dictate the next flip to be a head, but if you only need one head out of 10 flips to come out ahead wouldn't it be very likely (1023 out of 1024?) to lose?

There's a reason I'm in elementary stat though :unsure:

 

gambling is bad, kids.

 

Edit: for each individual flip obviously its a chance of 50%. I mean if you set out to stake 1m-3m-5m-10m-20m-40m-80m-160m-320m-640m wouldn't the probability of not landing on heads (winning) be only 1 in 1024? (.5^10)

I realise that this is absurd to gamble for a measly 1m. Idk. I'd never gamble.

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What people don't understand is that Pastel actually is planted much less often than any of the other colors, contrary to what people think / the wiki states.

 

FrostyFlower odds are roughly 67/33 in the favor of the host, and this is coming from someone who used to host it all the time. It's not abnormal to see hosts in Frostyflower clans to go on 15+ winstreaks.

 

The game is designed to clean the better and be deceptive. Most people don't know about the Pastel thing.

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I agree with you, but were you to bet like that, you'd need only one win to come out ahead assuming you double your stake with each loss.

Of course 9 tails doesn't dictate the next flip to be a head, but if you only need one head out of 10 flips to come out ahead wouldn't it be very likely (1023 out of 1024?) to lose?

There's a reason I'm in elementary stat though :unsure:

 

gambling is bad, kids.

 

Edit: for each individual flip obviously its a chance of 50%. I mean if you set out to stake 1m-3m-5m-10m-20m-40m-80m-160m-320m-640m wouldn't the probability of not landing on heads (winning) be only 1 in 1024? (.5^10)

I realise that this is absurd to gamble for a measly 1m. Idk. I'd never gamble.

The problem with the martingale system is that you risk a lot to earn a little, but the chance of coming out on top is almost one. Usually you run out of money before you get a significant profit.

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No Cow, you're right.

 

Assuming infinite starting capital (and I suppose infinite time) the Martingale betting system (doubling each successive bet to recoup loses and win a profit of the original bet) will work. However the problem is that nobody possesses infinite wealth, and the exponential growth of the bets quickly bankrupt those on an unlucky streak (for example starting with a 1m bet, it only takes 10 losses to be 512m, and 11 to be over 1b - all for a 1m profit).

 

I believe chenw's post was directed at the "if you follow flower games, people do get 10+ streaks, and if you see this you should start your betting on them" portion of top 25's post. Which is the Gambler's fallacy - that repeated independent trials that deviate away from the expected behaviour cause future deviations in the opposite direction (throwing multiple heads means the next throw is more likely than 50/50 to be a tail).

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It is easy to show that for the martingale betting strategy, you can expect to lose an infinite amount of money, but I don't think this is the place for a math proof.

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Deletion is correct on nearly all accounts, Martingale system runs away VERY quickly, due to the doubling nature of the bets.

 

However to nitpick, your 10th loss is 512M on that bet only, but you would have already lost 1023M up to that point

 

Repeated use of the Martingale system, assuming finite gambler capital, will by itself be a HUGELY favourable betting system to the house, simply because, when looked at the house's side, odds are in your favor, you don't lose much, even for a lucky streak on the gambler's part, but there the chance of gambler going bankrupt is bound to happen sooner or later. EG in the 1m bets above, losing 9 in a row for the house only loses them 9m, but losing 9 in a row for the gambler nets 511M for the house.

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I understand the majority here are probably young and naive with mommy and daddy worrying about the taxes, but saying that this is not a serious offence is laughable. Earning 200k in one year in the united states puts you in one of the top tax brackets, and you can expect to owe about a third of that to the government. The idiot kids probably blew all the money on stupid crap, and if they can't come up with ~65k they WILL go to jail and it WILL permanently affect them.

 

There is a reason for the quote "Nothing is certain but death and taxes"

 

You're just pulling stuff out of thin air now. In order for me to believe you, you'd have to give some backing. Heck, even one case where money made from a video game illicitly was cause of a person to go to jail due to tax evasion.

 

Now, as someone who legitimately made around 1k in Diablo 3 via the Real Money Auction House, I know I have to pay taxes on it. Well, report it at least. Since I'm a student I probably won't have any taxes due this year. But at the most I've heard of people talking of audits.

 

Tax evasion is normally for people who actively evade taxes. People who can't pay their taxes when due DO NOT go to jail. They are subject to fines, and monthly interest. http://www.irs.gov/taxtopics/tc202.html

 

Honestly I wish people would stop making shit up. We can't have a good discussion when one side is simply pulling shit out of their figurative ass.

If you cannot pay in full, you should pay as much as possible to reduce the accrual of interest on your account. Please refer to Topic 158 for information needed to ensure that your payment is credited properly.

You should consider financing the full payment of your tax liability through loans, such as a home equity loan from a financial institution or a credit or debit card payment. The interest rate and any applicable fees charged by a bank or credit card company are usually lower than the combination of interest and penalties imposed by the Internal Revenue Code. If you cannot pay in full immediately, the IRS offers a short amount of additional time, up to 120 days, to pay in full. No fee will be charged for entering this type of payment arrangement, however, interest will continue to accrue until the liability is paid in ful

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well, the house relies on as many transactions as possible in order to average the results out to the house favored odds, so yeah, you'd just be feeding into their system more

 

this is also why things such as lucky draw game in japan, casinos in las vegas, scratch lotteries, and publishers clearing make as big an effort as possible to advertise the winners, whether it be a bell you ring when somebody wins, loud noises and flashing lights, or televised and published advertising to show that yes indeed, they do pay out, in order to draw in more suckers

 

i mean, players

 

the house is never a bad sport about losing when it never actually loses

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well, the house relies on as many transactions as possible in order to average the results out to the house favored odds, so yeah, you'd just be feeding into their system more

 

this is also why things such as lucky draw game in japan, casinos in las vegas, scratch lotteries, and publishers clearing make as big an effort as possible to advertise the winners, whether it be a bell you ring when somebody wins, loud noises and flashing lights, or televised and published advertising to show that yes indeed, they do pay out, in order to draw in more suckers

 

i mean, players

 

the house is never a bad sport about losing when it never actually loses

 

I remember reading that casino blackjack is only actually like a 2% house advantage or something if you play a perfect game. Gambling games in RS seem excessively unbalanced in comparison.

 

As for doublers, I was unaware such a system had a proper name, but players who did so were one of the most profitable types of gambler. Most hosts had a minimum bet of between 2m and 10m to prevent a large enough number of bets that the better almost certainly wins in the end. When you start from 5 or 10m, the total amount lost adds up very quickly and very few betters have enough gp to sustain a significant doubling streak at such starting amounts. 10-20-40-80-160-320-640-1280. A relatively small 8 win streak for the host and you're down over 2.5B. Not to mention the fact that the host could quite easily say nope once they're happy with the amount they've won and don't want to risk anymore for the day.

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I understand the majority here are probably young and naive with mommy and daddy worrying about the taxes, but saying that this is not a serious offence is laughable. Earning 200k in one year in the united states puts you in one of the top tax brackets, and you can expect to owe about a third of that to the government. The idiot kids probably blew all the money on stupid crap, and if they can't come up with ~65k they WILL go to jail and it WILL permanently affect them.

 

There is a reason for the quote "Nothing is certain but death and taxes"

 

You're just pulling stuff out of thin air now. In order for me to believe you, you'd have to give some backing. Heck, even one case where money made from a video game illicitly was cause of a person to go to jail due to tax evasion.

 

Now, as someone who legitimately made around 1k in Diablo 3 via the Real Money Auction House, I know I have to pay taxes on it. Well, report it at least. Since I'm a student I probably won't have any taxes due this year. But at the most I've heard of people talking of audits.

 

Tax evasion is normally for people who actively evade taxes. People who can't pay their taxes when due DO NOT go to jail. They are subject to fines, and monthly interest. http://www.irs.gov/t...pics/tc202.html

 

Honestly I wish people would stop making shit up. We can't have a good discussion when one side is simply pulling shit out of their figurative ass.

 

If you cannot pay in full, you should pay as much as possible to reduce the accrual of interest on your account. Please refer to Topic 158 for information needed to ensure that your payment is credited properly.

You should consider financing the full payment of your tax liability through loans, such as a home equity loan from a financial institution or a credit or debit card payment. The interest rate and any applicable fees charged by a bank or credit card company are usually lower than the combination of interest and penalties imposed by the Internal Revenue Code. If you cannot pay in full immediately, the IRS offers a short amount of additional time, up to 120 days, to pay in full. No fee will be charged for entering this type of payment arrangement, however, interest will continue to accrue until the liability is paid in ful

 

 

The point wasn’t that someone goes to jail for tax evasion – even though some people have, in the past, in extreme cases. The point IS that, IF you’re making large sums of money AND not claiming it, AND you’re hiding it by creating various accounts, using false names, made up personalities and/or syphoning money into accounts in other people’s names, THEN you’re not tax evading, you’re MONEY LAUNDERING.

 

There is a wide line between these two transgressions and the penalties for same are dramatically different.

 

Sure, so someone made $20K and didn’t claim it as income. They’re young and therefore don’t think they need to claim income. “Base taxable income” varies from jurisdiction to jurisdiction, but suffice it to say that if you make, generally, over $10K a year, regardless of your age, you should claim said income. Failure to claim that income may lead the taxing authority to assess you. In Canada, for example, they can go back as far as six (6) years. In some jurisdictions, they can go even further back. If you put that money into a bank account and the bank pays interest on it, the bank will issue you a tax receipt for the income earned and they will send a copy of it to the taxing authority. As such, it’s not like the taxing authority doesn’t know you have the money or that you’ve earned interest on the money.

 

If you open 10 bank accounts and deposit funds into all of them and they all earn interest, the taxing authority will be informed of it. If it appears that these funds were deposited as a means of hiding the larger sum, the government will take a look at it.

 

It becomes even more sketchy, and therefore it is even more likely to be deemed money laundering, when such funds have been acquired through some means which may be deemed to be illicit.

 

Like it or not, the proceeds acquired by selling off the “property” of another individual or company, without that said individual’s or company’s consent, is an illicit act. Filtering said income through various accounts and other nefarious routes, in any manner, with the intention to hide said income from taxing authorities is money laundering.

 

Now, okay, I realize that most of the people here are young and that none of them have any actual experienced in such matters. But, first of all, ignorance of the law is not a defence. Neither is your age. If the Court determines that what you have done is a criminal offence and that you are fit to be tried as an adult, THEN you will be tried and sentenced accordingly. It doesn’t matter if you plead ignorance, innocence or stupidity, you will be tried and convicted.

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Do we have any evidence to even suspect that known RWT'ers are doing this, however? I'm not claiming they aren't. I was simply replying to the person who said that they'd go to jail for tax evasion.

 

And I disagree. I think the person I replied to before's point was EXACTLY what he stated, and I called him out on it.

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*Sigh*...Why do I bother.

 

The point wasn’t that someone goes to jail for tax evasion – even though some people have, in the past, in extreme cases. The point IS that, IF you’re making large sums of money AND not claiming it, AND you’re hiding it by creating various accounts, using false names, made up personalities and/or syphoning money into accounts in other people’s names, THEN you’re not tax evading, you’re MONEY LAUNDERING.

 

This is the part where you assume those involved are "hiding" the money. What is to say that they received their check from "XYZ RS GOLD SITE", deposited into one (or fifty or whatever) bank accounts, and claimed it all when they filed their taxes. Quit making assumptions that they are hiding the money. You have NO reason to believe that, other than your own suspicion, which "... is like your opinion, man"...

 

Sure, so someone made $20K and didn’t claim it as income. They’re young and therefore don’t think they need to claim income. “Base taxable income” varies from jurisdiction to jurisdiction, but suffice it to say that if you make, generally, over $10K a year, regardless of your age, you should claim said income. Failure to claim that income may lead the taxing authority to assess you. In Canada, for example, they can go back as far as six (6) years. In some jurisdictions, they can go even further back. If you put that money into a bank account and the bank pays interest on it, the bank will issue you a tax receipt for the income earned and they will send a copy of it to the taxing authority. As such, it’s not like the taxing authority doesn’t know you have the money or that you’ve earned interest on the money.

 

If you open 10 bank accounts and deposit funds into all of them and they all earn interest, the taxing authority will be informed of it. If it appears that these funds were deposited as a means of hiding the larger sum, the government will take a look at it.

 

It becomes even more sketchy, and therefore it is even more likely to be deemed money laundering, when such funds have been acquired through some means which may be deemed to be illicit.

Seriously, did I miss some post where it was claimed that these people hide the money? I'm pretty sure that was never stated.

 

I make 60k a year after taxes, and after expenses I probably sustain about 20k profit. That money is in many, many different accounts for many, many different reasons. By no means am I hiding it. Having many accounts doesn't give the gov't the go-ahead to assume you are hiding it.

 

Like it or not, the proceeds acquired by selling off the “property” of another individual or company, without that said individual’s or company’s consent, is an illicit act. Filtering said income through various accounts and other nefarious routes, in any manner, with the intention to hide said income from taxing authorities is money laundering.

 

Now, okay, I realize that most of the people here are young and that none of them have any actual experienced in such matters. But, first of all, ignorance of the law is not a defence. Neither is your age. If the Court determines that what you have done is a criminal offence and that you are fit to be tried as an adult, THEN you will be tried and sentenced accordingly. It doesn’t matter if you plead ignorance, innocence or stupidity, you will be tried and convicted.

 

Everyone understands that ignorance of the law doesn't exclude you from the law. You'd be pretty think to so. Likewise, where is the law that states that selling virtual property is illegal? This is a pretty new, not so hot topic. Not to say that it isn't up and coming, but as it stands now, there are no laws against the sale of virtual property.

 

With that, Jagex claims that all virtual items belong to them. They are right, as the items are merely data on their servers, however you can claim the ownership of data on another entities servers if you pay for that data. Jagex claims that these items have no value, and thus they are entitled to the ownership, so how do they get away with it? The answer is "service". By claiming you are not paying for the items, but rather for the service, they can also claim the items are valueless. This can of course be challenged, but it never has as it's a pretty strong argument.

 

The same goes for gold selling. Jagex can sue, but as has been pointed out, the offending parties can claim they were merely providing a service.

 

And this is all valid until some judge says otherwise.

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I don't think the argument is because someone in this thread proposed that; rather, just that it does happen, and these people who do will likely face the repercussions of it later in life. While the extent she explained might not be as common, these people exist as much as those who claim them/pay backtaxes do.

 

The same goes for gold selling. Jagex can sue, but as has been pointed out, the offending parties can claim they were merely providing a service.

 

And this is all valid until some judge says otherwise.

 

Criminal copyright infringement covers in a blanket sort of way anything where someone who doesn't own/have the right gains a commercial advantage or private profit off of the copyright owner's material. It doesn't really matter if it's a service or not since Jagex still owns that. They have better luck contesting ownership than they do whether or not it's "a service."

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The point wasn’t that someone goes to jail for tax evasion – even though some people have, in the past, in extreme cases. The point IS that, IF you’re making large sums of money AND not claiming it, AND you’re hiding it by creating various accounts, using false names, made up personalities and/or syphoning money into accounts in other people’s names, THEN you’re not tax evading, you’re MONEY LAUNDERING.

 

There is a wide line between these two transgressions and the penalties for same are dramatically different.

 

Sure, so someone made $20K and didn’t claim it as income. They’re young and therefore don’t think they need to claim income. “Base taxable income” varies from jurisdiction to jurisdiction, but suffice it to say that if you make, generally, over $10K a year, regardless of your age, you should claim said income. Failure to claim that income may lead the taxing authority to assess you. In Canada, for example, they can go back as far as six (6) years. In some jurisdictions, they can go even further back. If you put that money into a bank account and the bank pays interest on it, the bank will issue you a tax receipt for the income earned and they will send a copy of it to the taxing authority. As such, it’s not like the taxing authority doesn’t know you have the money or that you’ve earned interest on the money.

 

If you open 10 bank accounts and deposit funds into all of them and they all earn interest, the taxing authority will be informed of it. If it appears that these funds were deposited as a means of hiding the larger sum, the government will take a look at it.

 

It becomes even more sketchy, and therefore it is even more likely to be deemed money laundering, when such funds have been acquired through some means which may be deemed to be illicit.

 

Like it or not, the proceeds acquired by selling off the “property” of another individual or company, without that said individual’s or company’s consent, is an illicit act. Filtering said income through various accounts and other nefarious routes, in any manner, with the intention to hide said income from taxing authorities is money laundering.

 

Now, okay, I realize that most of the people here are young and that none of them have any actual experienced in such matters. But, first of all, ignorance of the law is not a defence. Neither is your age. If the Court determines that what you have done is a criminal offence and that you are fit to be tried as an adult, THEN you will be tried and sentenced accordingly. It doesn’t matter if you plead ignorance, innocence or stupidity, you will be tried and convicted.

 

Most of which is completely irrelevant to over 90% of gold selling sites, which are not based in the US, Canada, Europe etc. but are based in China and other eastern countries, where income tax is so low that not declaring your income would be true idiocy. If income tax is insignificant, there is no motive for people to evade tax. Equally, you claim that selling the intangible, virtual goods gathered on an online game is illegal. Illegal where? In the USA? England? Are you familiar with such laws in the countries where these sites are based or not? Western tax law and whatever you call the law about making money off another company's IP is redundant in this situation.

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Western tax law and whatever you call the law about making money off another company's IP is redundant in this situation.

 

What makes it redundant? I'm asking because I'm trying to understand, not contradict.

 

It does not apply to the vast majority of cases, so in this situation it is redundant. The definition of redundant I'm using:

  1. No longer needed or useful; superfluous.

Since most RWT sites are not based in the West, Western tax law is no longer applicable, needed or useful.

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I don't know if redundant is the right word because what you're implying is that it never had any relevance in the first place. Regardless, it was my understanding that copyright laws still existed in China, it just became difficult to enforce because of their government. So while the conclusion might be the same (impossible to prosecute), it seems like maybe the reasoning behind that conclusion is flawed? (Western laws don't apply implying that China has radically different copyright laws but they seem to state protection for similar things.)

 

IDK just trying to stay afloat in this, I know this isn't area of discussion isn't my strong point.

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I understand the majority here are probably young and naive with mommy and daddy worrying about the taxes, but saying that this is not a serious offence is laughable. Earning 200k in one year in the united states puts you in one of the top tax brackets, and you can expect to owe about a third of that to the government. The idiot kids probably blew all the money on stupid crap, and if they can't come up with ~65k they WILL go to jail and it WILL permanently affect them.

 

There is a reason for the quote "Nothing is certain but death and taxes"

 

You're just pulling stuff out of thin air now. In order for me to believe you, you'd have to give some backing. Heck, even one case where money made from a video game illicitly was cause of a person to go to jail due to tax evasion.

 

Now, as someone who legitimately made around 1k in Diablo 3 via the Real Money Auction House, I know I have to pay taxes on it. Well, report it at least. Since I'm a student I probably won't have any taxes due this year. But at the most I've heard of people talking of audits.

 

Tax evasion is normally for people who actively evade taxes. People who can't pay their taxes when due DO NOT go to jail. They are subject to fines, and monthly interest. http://www.irs.gov/t...pics/tc202.html

 

Honestly I wish people would stop making shit up. We can't have a good discussion when one side is simply pulling shit out of their figurative ass.

 

If you cannot pay in full, you should pay as much as possible to reduce the accrual of interest on your account. Please refer to Topic 158 for information needed to ensure that your payment is credited properly.

You should consider financing the full payment of your tax liability through loans, such as a home equity loan from a financial institution or a credit or debit card payment. The interest rate and any applicable fees charged by a bank or credit card company are usually lower than the combination of interest and penalties imposed by the Internal Revenue Code. If you cannot pay in full immediately, the IRS offers a short amount of additional time, up to 120 days, to pay in full. No fee will be charged for entering this type of payment arrangement, however, interest will continue to accrue until the liability is paid in ful

 

I don't think you read his post properly here. His point is that earning money in those sort of amounts won't be ignored by the tax systems in either country. I think Failed was simply pointing out that a lot of posters on here are quite young and naive about certain things in life such as tax because they're not used to paying it. It's somebody elses problem but that's just being naive. 200k draws a lot more attention than a small amount like 1k from diablo. That 1k you made hardly puts you as an expert in the tax system by just googling a few things about the IRS. By your own admission you're a student but if you earned 200k you'd be expected to pay the relevant amounts demanded by the government of your own country. When you're full time employed and paying all sorts of taxes and rates you will understand this a lot more.

 

When the taxman comes knocking, and if you can't pay, it will affect you. Failed was also right about this At first they'll give you time to pay but in the end if you don't come up with satisfactory amounts to keep them at bay, inclusive of interest, then what do you suppose happens exactly? You'll be jailed.

 

So while you're mocking Failed that he doesn't know what he's talking about he's probably employed and paying taxes that subsidise some of the things you don't have to pay while you're a student. Instead of being completely disrespectful and pretending to know about things you don't why don't you take a minute and actually appreciate where things come from.

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I don't know if redundant is the right word because what you're implying is that it never had any relevance in the first place. Regardless, it was my understanding that copyright laws still existed in China, it just became difficult to enforce because of their government. So while the conclusion might be the same (impossible to prosecute), it seems like maybe the reasoning behind that conclusion is flawed? (Western laws don't apply implying that China has radically different copyright laws but they seem to state protection for similar things.)

 

IDK just trying to stay afloat in this, I know this isn't area of discussion isn't my strong point.

 

Western laws probably did apply initially. I'm guessing that most early RWT in Runescape was just player to player, and that bots were initially for private use, and that only later were they used for gp collection and sale on a massive scale. I might have used redundant incorrectly, I was never very fond of English at school :P

 

I'm not saying that tax and copyright laws don't apply in China, I'm saying that Western ones don't. It makes no sense to talk about the penalties for tax evasion in the USA or wherever when there is no motive to evade tax in China, so even if there are similar penalties (tax evasion used to be punishable by death in China) they will very rarely be applied. A study carried out in 2011 found that over 25% of tax evasion in China was carried out by members of the governing party. I don't think it is as big a deal over there as it is here; as a previous poster mentioned, income tax makes up a very small amount of the Chinese government's tax income.

 

As for copyright law, I imagine that unless Jagex has Chinese companies as investors, it'd be very hard for Jagex to get any kind of action taken against gold selling sites in China on copyright grounds. China's relations with the West are hardly conducive to legal cooperation.

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I don't think the argument is because someone in this thread proposed that; rather, just that it does happen, and these people who do will likely face the repercussions of it later in life. While the extent she explained might not be as common, these people exist as much as those who claim them/pay backtaxes do.

 

The same goes for gold selling. Jagex can sue, but as has been pointed out, the offending parties can claim they were merely providing a service.

 

And this is all valid until some judge says otherwise.

 

Criminal copyright infringement covers in a blanket sort of way anything where someone who doesn't own/have the right gains a commercial advantage or private profit off of the copyright owner's material. It doesn't really matter if it's a service or not since Jagex still owns that. They have better luck contesting ownership than they do whether or not it's "a service."

 

Going off what a guild mate who is a lawyer with the DOJ said (And I'd have to do more research on this specific area to show how) but that argument requires the gold sellers to be criminally infringing on the copyright to begin with. And since the counter argument to your claim is that virtual goods are not intellectual property, no criminal infringement took place to being with. However, this means virtual goods are property, and than the matter of theft comes into play. But in order for Jagex to claim theft they'd first have to admit that virtual goods are not IP, but property, which I think rather unlikely.

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I understand the majority here are probably young and naive with mommy and daddy worrying about the taxes, but saying that this is not a serious offence is laughable. Earning 200k in one year in the united states puts you in one of the top tax brackets, and you can expect to owe about a third of that to the government. The idiot kids probably blew all the money on stupid crap, and if they can't come up with ~65k they WILL go to jail and it WILL permanently affect them.

 

There is a reason for the quote "Nothing is certain but death and taxes"

 

You're just pulling stuff out of thin air now. In order for me to believe you, you'd have to give some backing. Heck, even one case where money made from a video game illicitly was cause of a person to go to jail due to tax evasion.

 

Now, as someone who legitimately made around 1k in Diablo 3 via the Real Money Auction House, I know I have to pay taxes on it. Well, report it at least. Since I'm a student I probably won't have any taxes due this year. But at the most I've heard of people talking of audits.

 

Tax evasion is normally for people who actively evade taxes. People who can't pay their taxes when due DO NOT go to jail. They are subject to fines, and monthly interest. http://www.irs.gov/t...pics/tc202.html

 

Honestly I wish people would stop making shit up. We can't have a good discussion when one side is simply pulling shit out of their figurative ass.

 

If you cannot pay in full, you should pay as much as possible to reduce the accrual of interest on your account. Please refer to Topic 158 for information needed to ensure that your payment is credited properly.

You should consider financing the full payment of your tax liability through loans, such as a home equity loan from a financial institution or a credit or debit card payment. The interest rate and any applicable fees charged by a bank or credit card company are usually lower than the combination of interest and penalties imposed by the Internal Revenue Code. If you cannot pay in full immediately, the IRS offers a short amount of additional time, up to 120 days, to pay in full. No fee will be charged for entering this type of payment arrangement, however, interest will continue to accrue until the liability is paid in ful

 

I don't think you read his post properly here. His point is that earning money in those sort of amounts won't be ignored by the tax systems in either country. I think Failed was simply pointing out that a lot of posters on here are quite young and naive about certain things in life such as tax because they're not used to paying it. It's somebody elses problem but that's just being naive. 200k draws a lot more attention than a small amount like 1k from diablo. That 1k you made hardly puts you as an expert in the tax system by just googling a few things about the IRS. By your own admission you're a student but if you earned 200k you'd be expected to pay the relevant amounts demanded by the government of your own country. When you're full time employed and paying all sorts of taxes and rates you will understand this a lot more.

 

When the taxman comes knocking, and if you can't pay, it will affect you. Failed was also right about this At first they'll give you time to pay but in the end if you don't come up with satisfactory amounts to keep them at bay, inclusive of interest, then what do you suppose happens exactly? You'll be jailed.

 

So while you're mocking Failed that he doesn't know what he's talking about he's probably employed and paying taxes that subsidise some of the things you don't have to pay while you're a student. Instead of being completely disrespectful and pretending to know about things you don't why don't you take a minute and actually appreciate where things come from.

 

Because I've been paying taxes for 9 years myself- I was simply using the example of D3 income as an example of the IRS 1099MISC or K form instead of normal taxes (Witholdings from employer, W-2, etc).

 

Also, claiming that this statement " The idiot kids probably blew all the money on stupid crap, and if they can't come up with ~65k they WILL go to jail and it WILL permanently affect them." is somehow deep and profound is asinine. It has no logical basis (as shown) and no defensible claims, other than that not paying taxes could permanently change your life. Than again, missing a day of class could do the same. Heck, his statement makes the claim that "they WILL go to jail.". Since this is clearly NOT the case, I called him out for BSing. Don't like it? IDC. Read my siggy.

 

Oh and another thing. Unless you know failed, everything you said about him is probably false. He probably sits on his ass all day playing RS. (No offense, using this as an example.) See what I did there? I made up a story to try and prove a point. However, that is not how logic and arguing should work. As well, I find it funny that you claim to know what I have or have not done in my lifetime, in an attempt to attack me and disprove my point. Needless to say, I won't bother you with my resume. I'm simply pointing out that no where in what you might consider an argument did you have any clash with what I stated, relying instead on weak fallacies, made up claims, and utter BS.

Stonewall337.png
[hide=Drops]Araxxor Eye x1 Leg pieces x2
GWD: 5000 Addy bar Steam B Staff x3 Z Spear x6 Sara. Hilt x2 Bandos Hilt x2 (LS, Solo)SS x6 (1 LS)
Tormented Demons: Shard x6 Slice x5 Claws x9 Limbs x3
DKS: Archer x21 Warrior x31 Berserker x30 Axe x51[/hide]

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Regrettably a large number of posts had to be removed - please continue with respectful, cooperative discussion.

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Supporter of Zaros | Quest Cape owner since 22 may 2010 | No skills below 99 | Total level 2595 | Completionist Cape owner since 17th June 2013 | Suggestions

99 summoning (18th June 2011, previously untrimmed) | 99 farming (14th July 2011) | 99 prayer (8th September 2011) | 99 constitution (10th September 2011) | 99 dungeoneering (15th November 2011)

99 ranged (28th November 2011) | 99 attack, 99 defence, 99 strength (11th December 2011) | 99 slayer (18th December 2011) | 99 magic (22nd December 2011) | 99 construction (16th March 2012)

99 herblore (22nd March 2012) | 99 firemaking (26th March 2012) | 99 cooking (2nd July 2012) | 99 runecrafting (12th March 2012) | 99 crafting (26th August 2012) | 99 agility (19th November 2012)

99 woodcutting (22nd November 2012) | 99 fletching (31st December 2012) | 99 thieving (3rd January 2013) | 99 hunter (11th January 2013) | 99 mining (21st January 2013) | 99 fishing (21st January 2013)

99 smithing (21st January 2013) | 120 dungeoneering (17th June 2013) | 99 divination (24th November 2013)

Tormented demon drops: twenty effigies, nine pairs of claws, two dragon armour slices and one elite clue | Dagannoth king drops: two dragon hatchets, two elite clues, one archer ring and one warrior ring

Glacor drops: four pairs of ragefire boots, one pair of steadfast boots, six effigies, two hundred lots of Armadyl shards, three elite clues | Nex split: Torva boots | Kalphite King split: off-hand drygore mace

30/30 Shattered Heart statues completed | 16/16 Court Cases completed | 25/25 Choc Chimp Ices delivered | 500/500 Vyrewatch burned | 584/584 tasks completed | 4000/4000 chompies hunted

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  • 3 weeks later...

That. Is. Amazing.

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^^My blog of EoC PvM, lols and Therapy.^^

My livestream- Currently: Offline :(

Offical Harpy Therapist of the Mad

[hide=Lewtations]

Barrows drops: Dharok's helm x2, Guthan's helm, Ahrim's top, Hood and skirt, Torag's hammers, Karils skirt, Karil's top, Torag's helm, Verac's skirt, Verac's Flail, Dharok's Platebody.

Dag kings drops: Lost count! :wall:

4k+ Glacors, 7 Ragefires, 4 Steadfasts, 4 Glaivens, 400+ shards![/hide]

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