Bitcoins

paddyrg

dryhat wrote: »

You price your goods in £, an exchange rate is applied and locked in and the processor takes Bitcoin from customer and pays £ into your bank account.

It couldn't be simpler and by offering another way to pay, you are opening up a new customer base.

Unfortunately, that's still got the exchange spread in the transaction, and a double one if a (whateverland) customer is trying to pay for my goods. They could use their own currency to buy BTC and then use those BTC to buy GBP... or use their currency to buy GBP directly and sidestep the triangulation. I don't see what problem is solved by making things more complicated.

[Deleted User]

http://www.hmrc.gov.uk/briefs/vat/brief0914.htm

paddyrg

Flexcoin latest exchange to go under permanently

http://www.theregister.co.uk/2014/03/04/bitcoin_bank_flexcoin_shuts_down_after_hackers_strike/

grey_gym_sock

citricsquid wrote: »

http://www.hmrc.gov.uk/briefs/vat/brief0914.htm

this is good. HMRC are treating bitcoin like other currencies, and therefore not trying to charge VAT on it.

The tax treatments outlined in this brief are for tax purposes only. They in no way reflect on the treatment of cryptocurrencies for regulatory or other purposes.

in other words: if some other arm of the state declares that bitcoin is a terrorist plot, or whatever, then HMRC isn't going to stand in their way. they just deal with tax. (fair enough.)

paddyrg

http://www.theregister.co.uk/2014/03/06/bitcoin_exchange_bleeds_money_after_hack_attack/

Ouch - although he claims he will repay everyone.

Just wondering why all the rampers have gone so quiet? Is it just because it's not on the telly and 'money' press at the moment? I'd have thought the past weeks news would be frankly major talking points (at least for those genuinely interested as opposed to hoping to make a quick buck speculating)

grifferz

kronenbourg wrote: »

it will never catch on its totally pointless

Have you told HMRC, Scan PCs, Aria, Overstock, The Winklevoss bros. that?

grifferz

Archi_Bald wrote: »

Disgusting. Get a divorce if you need to hide things from your wife.

Disgusting. Get a daytime ITV show if you need to give shouty judgement on other people's personal lives.

sabretoothtigger

paddyrg wrote: »

I'd have thought the past weeks news would be frankly major talking points (at least for those genuinely interested

Its quickly covered, bitcoin is not related to a website not even a very large one. Sorry to hear theres, failure, fraud and/or bankruptcy but its not integral anymore then lehman should be influential to dollar. If anything gox is of less influence, btc is not leveraged like the dollar system

genuine interest realises websites are not part of the protocol. Its news but its not exciting more unfortunate, gox was junk for ages now and I guess that was why; the books werent balanced and its own security was poor?

csm888

paddyrg wrote: »

http://www.theregister.co.uk/2014/03/06/bitcoin_exchange_bleeds_money_after_hack_attack/

Ouch - although he claims he will repay everyone.

Just wondering why all the rampers have gone so quiet? Is it just because it's not on the telly and 'money' press at the moment? I'd have thought the past weeks news would be frankly major talking points (at least for those genuinely interested as opposed to hoping to make a quick buck speculating)

I have little to say on the MtGox matter, most 'bitcoiners' have seen it coming for a while, I'm just very sad for the people who lost out.
Bitcoin allows you to transact without trusting 3rd parties, unfortunately the current exchanges all require trust, this has got to change, to a more open system, where all BTC holdings are protected and visible. (Not sure about Fiat though)

As for the discovery of Satoshi... well again this is interesting, but I think will have very little effect on Bitcoin (unless there is a proven link to CIA or similar)

blizeH

Has anyone found an easy way to calculate Bitcoin trades on a FIFO methodology? I've found this site which looks promising but doesn't support Bitbargain https://bitcointaxes.info/