Thanks, that likely explains it.
I do not know how long (sad but true), I just bought some miners for my kids and pointed them here while I was setting up all our miners on Kano so it might be a month but I would believe it may only be two weeks.
Getting your kiddos into an expensive hobby. atleast they getting a foot in the door and not coming in blind
It is not a hobby. Bear with me Con (I know it is off topic but I will only post once). Bitcoin has far better tax consequences than the crooked 529 plans most people use for college savings.
In the USA, you can gift your kids up to $14,000 per year. So, when you do your 2016 taxes (assuming you have filed an extension), you would record the day of the year in 2016 you gave them XX BTC (worth $14,000 or less). You would file the return and print and retain a copy for later.
My kids are 11 and 13. Their fidelity 529 "grows tax free" but returns almost nothing (nowhere near market). When they get to college, they can use that money tax free.
What is BETTER (and has worked out better SO FAR), is that I gift each one of them $14,000 worth of bitcoin and they own it at the price of the gift. The 2016 gift was around $450 per coin. Now when they get to college (or if they choose to do something else), they can sell the coins and only pay capital gains taxes.
Capital Gains taxes are currently ZERO percent as long as your income is under $37,950. That means they can sell enough coins to havea $37,950 gain each year at college and pay NO TAX on it. This is a great college savings plan.
This year the miners pointed at SOLO will be part of the gift and if they hit a block, all the better.
