INTERPRETATION AND PRELIMINARY This is an agreement (referred to as “Terms”) between BitsJitsu (also referred to in these Terms as (“we”, “us” or “our”) and you (also referred to in these Terms as “Customer”, “you”, “your”), the person accessing and using BitsJitsu mining service and accepting these Terms. The following terms shall have the meaning assigned to them hereunder and cognate expressions shall have corresponding meanings, namely: these terms of service apply to the use of BitsJitsu cloud mining service and BitsJitsu website located at and its subdomains. The website and the service is the property of BitsJitsu. These terms set out how BitsJitsu hosted Bitcoin mining service works and describe any associated rights and responsibilities. BitsJitsu terms of service and any instructions, guidance and similar information found on the website (from time to time) also apply to how you use BitsJitsu mining service (together the “agreement”). By using the website and/or the service, you agree to these terms of service. BitsJitsu reserves the right, at its sole discretion, to amend, change, modify, add or remove portions of these terms of service, at any time. It is your responsibility to check these terms periodically for changes. The current version of these terms is available at Your continued use of the website and/or the service following the published updates to the terms will mean that you accept and agree to the changes. as long as you agree and comply with these terms, BitsJitsu grants you a personal, non-exclusive, non-transferable, limited privilege to enter and use the website and the service. Please be aware that this is a closed-ended fund, aimed at raising a prescribed amount of capital, only once, and is subject to the terms of the mandate provided by the Customer. Closed-end fund interest represents an interest in a specialised, specific portfolio that is actively managed. The value of the fund fluctuates according to market forces, such as supply and demand, as well as the changing values of the cryptocurrency/ies. The net asset value of the fund is calculated regularly. However, the value is determined entirely by supply and demand. This can lead to a closed-ended fund trading at a premium of a discount to its Nett Asset Value.
One interesting aspect of the fast-growing Bitcoin market is the fluidity of the terms used to describe the different products that fall within its ambit. While the various forms of what are broadly known as “cryptocurrencies” are similar in that they are primarily based on the same type of decentralized technology known as blockchain with inherent encryption, the terminology used to describe them varies greatly from one jurisdiction to another. Some of the terms used by countries to reference cryptocurrency include: digital currency (Argentina, Thailand, and Australia), virtual commodity (Canada, China, Taiwan), crypto-token (Germany), payment token (Switzerland), cyber currency (Italy and Lebanon), electronic currency (Colombia and Lebanon), and virtual asset (Honduras and Mexico).
One of the many questions that arise from allowing investments in and the use of cryptocurrencies is
the issue of taxation. In this regard the challenge appears to be how to categorize cryptocurrencies
and the specific activities involving them for purposes of taxation. This matters primarily because
whether gains made from mining or selling cryptocurrencies are categorized as income or capital
gains invariably determines the applicable tax bracket. The surveyed countries have categorized
cryptocurrencies differently for tax purposes, as illustrated by the following examples:
Israel
→
taxed as asset
Bulgaria
→
taxed as financial asset
Switzerland
→
taxed as foreign currency
Argentina & Spain
→
subject to income tax
Denmark
→
subject to income tax and losses are deductible
United Kingdom:
→
corporations pay corporate tax, unincorporated businesses pay income tax, individuals pay capital
gains tax
Cryptocurrency mining is the distributed process of validating digital currency transactions and adding them to a public ledger/record for the currency (the blockchain) in pursuit of transaction fees and additional digital currency. The mining process is computationally intensive and can use significant and costly amounts of computing time and electricity.
Attackers sometimes use phishing techniques to trick victims into clicking links that load cryptocurrency mining code on their computers. They may also infect websites with malicious code. Additionally, some websites contain code that runs on visitors’ computers, mining cryptocurrency for the website owner. The only sign victims may notice is a slowing of their computer's performance. Be aware of Phishing & Suspicious Email dangers, and watch for websites that cause unexpectedly high resource usage.
There is no Maintenance Fee involved in our plans. Your only cost is what you pay for the plan (the initial price at purchase). There are no other fees to consider when calculating the performance of this plan except transfer fee from your E-wallet or bank.