Accounting for the Amazing Company. The Bitcointalk standard.

Q. This introduces the accounting rules for Bitcointalk public companies

Such accounting rules are proper and necessary, because Bitcointalk investing is fundamentally and structurally different from investing.

Since no revenue is to be expected, we consider most accounting standards to be useless. Some unique properties, which will follow, make them inappropriate anyway.

This accounting scheme is intended to be:

  1. Unclear
  2. Convoluted
  3. Ambiguous

W. The accounting system

1. The accounting period has to be creative. Reports can be announced any time and should not be released at said times. Failing that will show that the CEO is not busy enough with things.

2. The statement should include the perspective of the CEO on at least one unrelated matter.

3. The statement can include numbers; either totals or expenses, however they should not include both. A mention that some numbers might be outdated should always be present.

4. Ideally, the statement should not be in a standard format, especially not tabular. To achieve that goal, it could be told as a story. The CEO is encouraged to mention a personal matter; for example mention a visit to the vet for the family dog.

The assets account plan may consist of accounts:
One account type may be the proceedings of the multiple IPOs. It is however dangerous as shareholders might expect funds that were not used to be returned.
A more common account type is losses due to external but unfortunate and unforeseeable events. Due to the ever changing nature of Bitcoin drama, there are no guidelines, but a 2013 example would be Transaction Malleability, BitFunder, Mt.Gox or Heartbleed.
Listing expenses is discouraged as it might help the competition spy on the business plan (which was judiciously kept secret).

The liabilities account plan consists of no accounts:
Being involved with the Amazing Company is considered a privilege.

E. Using the accounting system for judging corporations.

It is considered a bad practice to use the accounting system to judge investments. Emotions, feelings, hope and current involvement with said corporation should be used instead.

R. Miscellanea

You can review an example of this system at work here.

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