tag:blogger.com,1999:blog-23264730781792496762024-02-07T23:56:06.115-05:00WeFiveKingsSean King, JD, CPA, MAcchttp://www.blogger.com/profile/17108340147699747899noreply@blogger.comBlogger2164125tag:blogger.com,1999:blog-2326473078179249676.post-24647589250786534692015-03-15T13:30:00.000-04:002015-03-15T13:47:15.972-04:00Thoughts on Valuing Bitcoin as a Network
By: Sean G. King, JD,
CPA, MAcc
General Counsel, Tennessee Bitcoin Alliance
Valuing bitcoins is a controversial subject. Part of the problem is that traditional
valuation tools (discounted cash flows, for example) simply are not helpful when
applied to something like bitcoins. Much
more on this subject here.
Does this mean thatSean King, JD, CPA, MAcchttp://www.blogger.com/profile/17108340147699747899noreply@blogger.com1tag:blogger.com,1999:blog-2326473078179249676.post-29335392929209834222014-12-31T14:15:00.002-05:002014-12-31T15:19:15.929-05:00Thoughts On the Significance of the FEDS Bitcoin Paper, And a Challenge to Bitcoin's Detractors
An
October 7, 2014 working paper prepared by staff of the Washington D.C. Federal
Reserve as part of the its Finance and Economics Discussion Series (FEDS)
reaches some important conclusions regarding the current status of the Bitcoin
network. The full paper is available here.
The
primary purpose of this essay is to ponder the potential future significance of
what I believe to be the Sean King, JD, CPA, MAcchttp://www.blogger.com/profile/17108340147699747899noreply@blogger.com0tag:blogger.com,1999:blog-2326473078179249676.post-65081826272670007572014-07-30T15:19:00.000-04:002014-07-30T15:19:18.826-04:00Eight Questions for Lawsky and the NYDFS Regarding the New Bitlicense Regulations1) Do you realize that any use of the Internet involves the transfer of units of data "by or through" one or more "third parties"? Reference your proposed definition of "Transmission".
2) What do you mean by the phrases "digital unit" and "medium of exchange"? Subject to the limited exceptions noted in your proposal, do you intend for your regulation to cover the "Sean King, JD, CPA, MAcchttp://www.blogger.com/profile/17108340147699747899noreply@blogger.com3tag:blogger.com,1999:blog-2326473078179249676.post-39880494550517814082014-07-28T14:15:00.001-04:002014-07-29T19:37:24.913-04:00A Follow Up to My Official Comments on New York's and Lawsky's Proposed Bitlicense Regulations
I'm grateful for all the feedback on my official comments to New York's proposed bitlicense regulations. It has been mostly positive so far--they have been 92% upvoted since someone posted a link to them on Reddit shortly after I published them. I'm thrilled that some have found them to be valuable. All should feel free to use them however they see fit in publicly commenting on the BitlicenseSean King, JD, CPA, MAcchttp://www.blogger.com/profile/17108340147699747899noreply@blogger.com0tag:blogger.com,1999:blog-2326473078179249676.post-46357044033105022842014-07-26T12:42:00.000-04:002014-07-26T17:35:02.666-04:00Here Are My Official Comments on the New York Department of Financial Services' Proposed Bitcoin and Virtual Currency Regulations
Dear Mr. Syracuse:
I am an attorney and Certified Public Accountant with a Master's Degree in Accounting.
For nearly twenty years I have also been licensed life and health insurance agent, a registered representative of a broker-dealer, and an investment advisor representative of an investment advisory firm. Consequently, I am very familiar with both the purposes of, and Sean King, JD, CPA, MAcchttp://www.blogger.com/profile/17108340147699747899noreply@blogger.com19tag:blogger.com,1999:blog-2326473078179249676.post-42451358280941003312014-01-05T14:38:00.000-05:002014-07-29T21:05:45.476-04:00The Universe Wants One ExchangeThe brilliant Oleg Andreev wrote a wonderful piece a while back titled "the universe wants one money". It's an excellent explanation as to why Bitcoin, or something very much like it, is destined to change and unify the world in ways that fiat currency never has or can. I highly recommend taking a moment to read it.
Yesterday, Oleg wrote another interesting article titled "Bitcoin Sean King, JD, CPA, MAcchttp://www.blogger.com/profile/17108340147699747899noreply@blogger.com2tag:blogger.com,1999:blog-2326473078179249676.post-69605745495660117352013-11-16T11:07:00.001-05:002013-11-17T11:59:15.167-05:00A Bitcoin White Paper for LaypersonsIntroduction
There is much debate about whether bitcoin is real money.
Detractors, such as @TheStalwart, argue that bitcoins are not backed by anything and therefore cannot be, or at least cannot long survive as, money. Bitcoin advocates counter that the US Dollar also isn’t backed by anything and therefore likewise has no inherent value, and yet it works reasonably well (so far) as money.Sean King, JD, CPA, MAcchttp://www.blogger.com/profile/17108340147699747899noreply@blogger.com0tag:blogger.com,1999:blog-2326473078179249676.post-10275455365977545902012-07-15T21:11:00.000-04:002012-07-16T12:18:19.617-04:00Jay Adkisson...res ipsa loquiterIt's been a while since I've had an opportunity to heckle attorney Jay Adkisson, but fate smiled on me today when I stumbled across one of his old newsletters.
For those who don't know, Jay (who is self-admittedly not a tax attorney) is a lawyer of a peculiar variety. Back in November of 2009 I called him out for his deceptive and unprofessional marketing practices which rely heavily on scare Sean King, JD, CPA, MAcchttp://www.blogger.com/profile/17108340147699747899noreply@blogger.com5tag:blogger.com,1999:blog-2326473078179249676.post-54581048201248771622012-05-11T07:50:00.000-04:002012-05-11T07:49:57.324-04:00Capital and Wealth is Mobile These DaysBloomberg News, sent from my iPad.France Entrepreneurs Flee From Hollande Wealth Rejection Jeremie Le Febvre, the 30-year-old founder of private equity marketing-services firm TBG Capital Advisors, plans to move to Singapore from Paris this year. Not because of President-elect Francois Hollande's pledge to boost taxes; rather for what Hollande's victory says about how wealth is viewed Sean King, JD, CPA, MAcchttp://www.blogger.com/profile/17108340147699747899noreply@blogger.com0tag:blogger.com,1999:blog-2326473078179249676.post-16538282782497998862011-12-17T21:57:00.001-05:002011-12-17T21:57:31.261-05:00Bitcoin Beat: Is it time to privatize money? | 89.3 KPCChttp://www.scpr.org/blogs/economy/2011/12/14/4009/bitcoin-beat-it-time-privatize-money/Sean King, JD, CPA, MAcchttp://www.blogger.com/profile/17108340147699747899noreply@blogger.com0tag:blogger.com,1999:blog-2326473078179249676.post-1496325269616342952011-12-17T21:25:00.001-05:002011-12-17T21:25:35.164-05:00Dutch Catholic 'abuses' exposed Dutch Catholic 'abuses' exposed http://www.bbc.co.uk/news/world-europe-16216174 --- Sent from Zite personalized magazine iPad app. Available for free in the App Store. www.zite.com Sean King, JD, CPA, MAcchttp://www.blogger.com/profile/17108340147699747899noreply@blogger.com0tag:blogger.com,1999:blog-2326473078179249676.post-29238080047469861622011-11-19T10:24:00.000-05:002011-11-19T15:31:05.052-05:00Nazi racial ideology was religious, not Darwinian Nazi racial ideology was religious, creationist and opposed to Darwinism http://coelsblog.wordpress.com/2011/11/08/nazi-racial-ideology-was-religious-creationist-and-opposed-to-darwinism/ --- Sent from Zite personalized magazine iPad app. Available for free in the App Store. www.zite.com Sean King, JD, CPA, MAcchttp://www.blogger.com/profile/17108340147699747899noreply@blogger.com0tag:blogger.com,1999:blog-2326473078179249676.post-25194222528456623662011-10-10T10:16:00.000-04:002011-10-10T10:17:20.103-04:00Here's to the Crazy Ones:Sean King, JD, CPA, MAcchttp://www.blogger.com/profile/17108340147699747899noreply@blogger.com0tag:blogger.com,1999:blog-2326473078179249676.post-69041099764274601932011-10-09T20:04:00.000-04:002011-10-09T19:59:39.604-04:00Pensions Wrestle With Return Assumptions Pensions Wrestle With Return Rates http://online.wsj.com/article/SB10001424052970204450804576620951874861390.html Sadly, far too many are woefully unfunded even with the old optimistic assumptions. --- Sent from Zite personalized magazine iPad app. Available for free in the App Store. www.zite.com Sean King, JD, CPA, MAcchttp://www.blogger.com/profile/17108340147699747899noreply@blogger.com0tag:blogger.com,1999:blog-2326473078179249676.post-12321851994804047862011-10-09T18:25:00.000-04:002011-10-09T18:25:17.128-04:00Iran actress sentenced to one year in jail: reportIran actress sentenced to one year in jail: reportSean King, JD, CPA, MAcchttp://www.blogger.com/profile/17108340147699747899noreply@blogger.com0tag:blogger.com,1999:blog-2326473078179249676.post-4865269130827780332011-10-09T13:49:00.000-04:002011-10-09T13:50:04.662-04:00The Liberal Paradox:Sean King, JD, CPA, MAcchttp://www.blogger.com/profile/17108340147699747899noreply@blogger.com0tag:blogger.com,1999:blog-2326473078179249676.post-92208444194655158692011-10-08T16:09:00.006-04:002011-10-08T16:29:56.945-04:00My Humble Tribute to Steve Jobs, with a big assist by Don McLean:(To the tune of American Pie)A short, short time ago...After the end of SeptemberDied a man who used to make us smile.He knew if he had his chanceThat he could make the people danceAnd, maybe, they’d be happy for a while.His recent frailty made me shiverBut I never doubted he’d deliver.Then bad news came by way of text;I could not conceive of what was next.It’s been a long time since I’ve Sean King, JD, CPA, MAcchttp://www.blogger.com/profile/17108340147699747899noreply@blogger.com0tag:blogger.com,1999:blog-2326473078179249676.post-32048790491079273952011-10-08T11:26:00.001-04:002011-10-08T11:28:13.076-04:00Hope and Change:Sean King, JD, CPA, MAcchttp://www.blogger.com/profile/17108340147699747899noreply@blogger.com0tag:blogger.com,1999:blog-2326473078179249676.post-62920495382062872562011-10-07T07:55:00.000-04:002011-10-07T07:51:11.303-04:00Steve Jobs Stanford Commencement Speech 2005If you have never seen Steve Jobs' Stanford Commencement address, you simply must. Here's a link:http://www.youtube.com/watch?v=D1R-jKKp3NA&feature=youtube_gdata_playerSean King, JD, CPA, MAcchttp://www.blogger.com/profile/17108340147699747899noreply@blogger.com0tag:blogger.com,1999:blog-2326473078179249676.post-92102398454699709512011-10-06T09:33:00.001-04:002011-10-06T09:33:21.385-04:00October 5, 2011: The Day the Music DiedRest in peace, Steve Jobs.Sean King, JD, CPA, MAcchttp://www.blogger.com/profile/17108340147699747899noreply@blogger.com0tag:blogger.com,1999:blog-2326473078179249676.post-90849397313876123582011-10-04T16:13:00.007-04:002011-10-05T17:45:07.661-04:00Hale Stewart Weighs in on Life Insurance and CaptivesHale Stewart has weighed in on the issue of captives and life insurance, posting the following some time ago on his blog and more recently on Jay Adkisson's LinkedIn captive group:I addressed this issue (life insurance in captives) in a recent post on my tax law blog. Here is the post in its entirety. The topic of life insurance and captive insurance companies is fairly controversial. Some Sean King, JD, CPA, MAcchttp://www.blogger.com/profile/17108340147699747899noreply@blogger.com1tag:blogger.com,1999:blog-2326473078179249676.post-46776394269754989382011-10-03T14:42:00.011-04:002011-10-04T21:17:24.624-04:00Jay Adkisson: Was He Lying Then or is He Lying Now?Anyone who knows anything about Jay Adkisson (who is self-admittedly not a tax attorney, by the way) knows that he loves disparaging the work of tax professionals in order to drive business to his firm. His most recent example is a posting on Forbes' blog that I extensively critiqued here and here. Importantly, at least for purposes of this post, Jay (who is not a tax attorney) warns the publicSean King, JD, CPA, MAcchttp://www.blogger.com/profile/17108340147699747899noreply@blogger.com0tag:blogger.com,1999:blog-2326473078179249676.post-6367807122412731392011-10-02T13:14:00.024-04:002012-01-14T12:51:56.363-05:00Jay Adkisson's AALU Presentation on Captives: Res Ipsa LoquiturLast weekend I offered an extensive critique of Jay Adkisson's marketing tactics, including a detailed refutation of many of the assertions made in his recent post that was picked up by Forbes. This weekend I want to further expand my critique by documenting just how disingenuous and hypocritical many of Jay's criticisms of other captive professionals really are. Consider, for instance, the Sean King, JD, CPA, MAcchttp://www.blogger.com/profile/17108340147699747899noreply@blogger.com0tag:blogger.com,1999:blog-2326473078179249676.post-737257652747790462011-09-25T11:52:00.029-04:002011-10-21T11:52:34.736-04:00Jay Adkisson...There You Go AgainNot too long ago I called out attorney Jay Adkisson for unprofessionally marketing his services by slandering the work of others. Well, he's at it again, this time on Forbes' blog. Forbes should be ashamed for publishing such drivel. Like last time, Jay's comments are full of self-serving and misleading statements, exaggeration and scare tactics. And, once again, I shall count the ways that Sean King, JD, CPA, MAcchttp://www.blogger.com/profile/17108340147699747899noreply@blogger.com0tag:blogger.com,1999:blog-2326473078179249676.post-69679286948800685662011-06-14T12:53:00.008-04:002011-06-18T16:25:19.502-04:00Understanding Bitcoin: A Guide for NewbiesBitcoin has been all the buzz in recent weeks, not only among geek types but in mainstream sources like the Washington Post, The Atlantic, NPR, and even The Economist. Even so, it's apparent by searching for #Bitcoin on Twitter that many still don't understand what it is and why both its liberating and subversive potentials are so enormous. I think this confusion is due to the fact that most Sean King, JD, CPA, MAcchttp://www.blogger.com/profile/17108340147699747899noreply@blogger.com0