Round 5 and Round 6 kits for sale!

[vinnycordeiro]

Until we hear more from 7bit it is useless to debate which payment channel is viable or not.

[chuckdee]

Until we hear more from 7bit it is useless to debate which payment channel is viable or not.

I wouldn't say useless. He might not have known that bitpay was an alternative, and it would take out the middleman if he used it. So bringing it up and talking about the merits and disadvantages is a viable conversation.

[nnc-tlb]

yes, I'm still new here and didn't read all 464 pages, but for me it looks like to much speculations about options and solutions from many users. Maybe if 7bit answering interval was shorter then all this would not happen. But maybe he wants a life outside the DT-world ? But if he answer faster, shipping will be slower ! (I got my keycaps very fast from him, thx!)

I want to contribute to all the speculations (to be more conform to the masses ):
a) anybody has full info how 7bit runs the legal side of all this ? (AG, GmbH, Ltd., GbR, ...) ?
b) so different laws and rules applies for different forms of bizz (just inside Germany and this are most likely totally different than in your country)
c) running a bizz is a risk, so involving another payment processor is just another risk, especially in an unregulated field - maybe or most likely no liability !
d) bitpay the endgame ? no ! just browse their site. Information about fees (https://bitpay.com/pricing + the Fees.pdf), so bitpay is some kind of prepaid VISA card, you filling your VISA credit prepaid card with bitcoins or US$ or maybe EUR and then spending your VISA credit in US$ for free. outside the US fees applies, no info about fees for weekly/daily Bank Settlements (their speaking about it, depending on your plan, but I bet this are not for free!) or even a "per sale" Bank Settlements (I bet this are impossible!) to SEPA bank account. the transaction limits and max. card limit are to low to handle this GB. just to much hassle, risk, fees, etc. or even impossibilities.

[7bit]

Google Wallet and PayPal collector wanted!!!
Google Wallet and PayPal collector wanted!!!
Google Wallet and PayPal collector wanted!!!
Google Wallet and PayPal collector wanted!!!
->
------------------->SPLASH!
--------------------->

BTW: The 40% rebate sellout will continue until we have a new PayPal collector.

[rominronin]

BTW: The 40% rebate sellout will continue until we have a new PayPal collector.

THIS HURTS MY WALLET DAMMIT!

[caligo]

Just out of curiosity: the limit on how much money people can collect through PayPal is due to using one's personal PayPal account, no? But using a business account, there would be no such limit. I get that there can be reasons for not wanting to set up a company for doing a GB – there's probably a lot less bureaucracy involved when doing it in this roundabout way, using collectors and such, and probably a lot of taxes and fees are avoided as well. But this whole "collectors wanted" thing is kind of getting out of hand – at some point, surely it must be easier to simply incorporate and get a proper payment system set up? Or is there a downside to this that I'm not aware of?

[7bit]

OK, we have a new PayPal money collector!


Now, we still need a GoogleWallet collector!

[zslane]

Just out of curiosity: the limit on how much money people can collect through PayPal is due to using one's personal PayPal account, no? But using a business account, there would be no such limit. I get that there can be reasons for not wanting to set up a company for doing a GB – there's probably a lot less bureaucracy involved when doing it in this roundabout way, using collectors and such, and probably a lot of taxes and fees are avoided as well. But this whole "collectors wanted" thing is kind of getting out of hand – at some point, surely it must be easier to simply incorporate and get a proper payment system set up? Or is there a downside to this that I'm not aware of?

Opening up a business PayPal account (for when I collected for R6 phase 2) involved no extra bureaucracy. For all practical purposes it was no different than my personal account. I paid no extra fees. I didn't have to incorporate, or do any of that nonsense. And since the revenue pulled in was exactly the same as the expenses paid out, I had exactly $0 of profit or loss. The impact on my personal life was minimal to non-existent.

I understand all the reasons why folks are nervous at the prospect of being a PayPal collector, but logistical difficulty is not one of them. One downside is dealing with irate/nervous buyers and issuing refunds (for example, what happens after you've paid an SP invoice, your PayPal account is now empty, and then someone demands a refund? As far as PayPal is concerned, you are on the hook for that.)

[caligo]

That's some really interesting info, thanks! I figured you'd have to actually be a business in order to qualify for a business account, but apparently not. But yeah, refunds are probably one of the main concerns for people. That and being accused of money laundering, I guess.

[Slom]

Just out of curiosity: the limit on how much money people can collect through PayPal is due to using one's personal PayPal account, no? But using a business account, there would be no such limit. I get that there can be reasons for not wanting to set up a company for doing a GB – there's probably a lot less bureaucracy involved when doing it in this roundabout way, using collectors and such, and probably a lot of taxes and fees are avoided as well. But this whole "collectors wanted" thing is kind of getting out of hand – at some point, surely it must be easier to simply incorporate and get a proper payment system set up? Or is there a downside to this that I'm not aware of?

Opening up a business PayPal account (for when I collected for R6 phase 2) involved no extra bureaucracy. For all practical purposes it was no different than my personal account. I paid no extra fees. I didn't have to incorporate, or do any of that nonsense. And since the revenue pulled in was exactly the same as the expenses paid out, I had exactly $0 of profit or loss. The impact on my personal life was minimal to non-existent.

I understand all the reasons why folks are nervous at the prospect of being a PayPal collector, but logistical difficulty is not one of them. One downside is dealing with irate/nervous buyers and issuing refunds (for example, what happens after you've paid an SP invoice, your PayPal account is now empty, and then someone demands a refund? As far as PayPal is concerned, you are on the hook for that.)

Is there a reason why 7bit is not running a PP account himself?

[PancakeMSTR]

I'm wondering if there are any violet+cream kits available. I've never ordered through DT and, yeah, I could use a little assistance at least knowing if what I want is available.

[vinnycordeiro]

Is there a reason why 7bit is not running a PP account himself?

Yes: PayPal blocked it.

[krutmob]

Taxes are a consideration stateside.

[gnmar2723]

Taxes are a consideration stateside.

I thought we had come to the conclusion that there was no financial gain for paypal or GW collectors. Their money in should always equal money out, right?

(My mistake if I am trying to simplify this matter too much)

[caligo]

I think the deal is anything under 20,000 USD and/or 200 payments means you don't have to deal with taxes. More payments, or a larger amount, and you have to talk to the IRS about it. But what do I know – I don't live in the US.

[krutmob]

Taxes are a consideration stateside.

I thought we had come to the conclusion that there was no financial gain for paypal or GW collectors. Their money in should always equal money out, right?

(My mistake if I am trying to simplify this matter too much)

There definitely is not any financial gain for PP or GW collectors stateside. The consideration I noted is the possibility that PP/Google will issue a 1099 to account-holders when their transaction history rises above $10k or 100-200 transactions. There is no official ceiling--this is all anecdotal. Once that happens, the account-holder becomes liable for paying taxes on that "income." If that occurs, the next step for the collector would be to file their own "nominee" 1099 form with the IRS, indicating that you were not the actual owner of the funds. Then the collector mails a a 1099-B to the actual owner, thus transferring the tax liability.

[caligo]

As far as I gathered when I offered to collect funds a great while back, here in Sweden the limit is something like $10,000 before you have to fill in tax forms etc. There might be other caveats though. The two biggest risks, as I understand it, is either that the money is considered income meaning you have to pay taxes for all of it, or that they think you're doing money laundry. Hopefully, the risk of the latter happening is rather slim. But I bet it would be interesting to try and explain that those funds did in fact not come from the German mob but rather something called a "group buy" for "SA keycaps", which is totally not an euphemism for some designer drug.

[zslane]

Well, even if the collected funds do get reported on one's income tax return (in the US), the net gain is $0, so there are no taxes to be paid in any case.

[maximm]

If you are registered as a compyny yes, but as a private citizen they do not care what goes out, it is all reported and you have to account for how you received the money.

[zslane]

If I have $5000 as income from PayPal and $5000 as an itemized deduction, the net impact on reportable income is $0.

[chuckdee]

If I have $5000 as income from PayPal and $5000 as an itemized deduction, the net impact on reportable income is $0.

That's not quite true. Depending on how it's reported, you still have to pay FICA, SS, and Self-Employment Tax on it. There are no deductions or credits that reduce ss and medicare tax. None at all. That is the tax law.

[Kurplop]

If I have $5000 as income from PayPal and $5000 as an itemized deduction, the net impact on reportable income is $0.

That's not quite true. Depending on how it's reported, you still have to pay FICA, SS, and Self-Employment Tax on it. There are no deductions or credits that reduce ss and medicare tax. None at all. That is the tax law.

It's my understanding that business expenses reported on a schedule C are deducted before FICA but any personal schedule A deduction is made after.

[chuckdee]

If I have $5000 as income from PayPal and $5000 as an itemized deduction, the net impact on reportable income is $0.

That's not quite true. Depending on how it's reported, you still have to pay FICA, SS, and Self-Employment Tax on it. There are no deductions or credits that reduce ss and medicare tax. None at all. That is the tax law.

It's my understanding that business expenses reported on a schedule C are deducted before FICA but any personal schedule A deduction is made after.

That's why I said depends on how it's reported.

[Putin]

Is ir still posible to buy a space cadet set

[vinnycordeiro]

Is ir still posible to buy a space cadet set

No, they are all gone, as you can see at the wiki.

[zslane]

I guess it's time for SP to revive Symbiosis...

[saboy]

"All kits with WHITE, GREY, RED and BLACK in their name will be produced at the end of 2017. " - from R6 leftover page.
What happened with August production slot

[hansichen]

I guess it's delayed due to the godspeed delay, August was named before massdrop had to delay godspeed again, I assume that pushed it back into the Q4 of this year :/

[7bit]

Hi all!


The 40% summer sellout will end this month!


Thanks to everybody who purchased leftovers during that time!

[LastBrat]

Thanks to everybody who purchased leftovers during that time!

I'd like to order some more, but need to know what these keys are, please:
HONEYG/MOD100D/BLUE
HONEYG/MOD100E/BLUE
Are these 1u modifier keys (which ones)?
Thanks!