grsthegreat
Super Star Member
hay..sounds alot like a ponsi scheme to me....think Zeek Rewards
Bitcoin: What do you think?
- Thread starter dave1949
- Start date
hay..sounds alot like a ponsi scheme to me....think Zeek Rewards
rekees4300
Elite Member
Hate to say I told you so, but I told you so.
Major Bitcoin exchange website goes offline | Fox News
joshuabardwell
Elite Member
This is no more an indictment of Bitcoin itself, than the mortgage bubble was an indictment of the dollar. Crooks will be crooks.
MoKelly
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Seems to me this is similar to American Express Traveler Checks. You give American Express money and they give you an IOU. Its all good until American Express can't pay.
MoKelly
MoKelly
timswi
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There's also that whole money laundering thing that would have come about if it hasn't happened already. This whole thing (whatever it is) was in the regulatory cross-hairs for laundering amongst many other potential illicit activities. After reading up on bitcoin, I can certainly see why...I'm no criminal, but at least 10 possibilities come to mind. Imagine what the really smart POS can come up with.
grsthegreat
Super Star Member
i wonder how ling it will be before the bitcoin is back to $10.00
JimWalch
Silver Member
It appears bitcoin’s recent turmoil has claimed its first life.
Autumn Ratke a 28-year-old American CEO of bitcoin exchange firm First Meta was found dead in her Singapore apartment on Feb. 28.
BREAKING: Satoshi Nakamoto, the mystery man behind bitcoin, finally located
Local media are calling it a suicide, but Singapore officials are waiting for toxicology test results. Ratke formerly worked with Apple and other Silicon Valley tech firms on developing digital payment systems.
Autumn Ratke a 28-year-old American CEO of bitcoin exchange firm First Meta was found dead in her Singapore apartment on Feb. 28.
BREAKING: Satoshi Nakamoto, the mystery man behind bitcoin, finally located
Local media are calling it a suicide, but Singapore officials are waiting for toxicology test results. Ratke formerly worked with Apple and other Silicon Valley tech firms on developing digital payment systems.
IRS wants its piece of the bitcoin bonanza | The Portland Press Herald / Maine Sunday Telegram
LOS ANGELES—The Internal Revenue Service said Tuesday that bitcoin would be treated and taxed as property, joining other efforts to bring more oversight to the controversial digital currency.
In its first big ruling on bitcoin, the agency noted that “it does not have legal tender status” and will be taxed under codes that apply to property transactions.
That means wages paid to workers in bitcoins will be subject to federal income and payroll taxes. Those who “mine” virtual currencies – or create new bitcoins by solving complex math problems – will have to report their earnings as taxable income.
Bitcoins can also be treated as capital assets, regulated under the same rules that govern stocks and bonds, the IRS said.
The agency’s decision was applauded by Sen. Thomas Carper, D-Del., who has called on the U.S. government to lead the way for regulating bitcoin and other virtual currencies.
The guidance “provides clarity for taxpayers who want to ensure that they’re doing the right thing and playing by the rules when utilizing Bitcoin,” Carper said in a statement Tuesday.
Bitcoin, which has gained a following among ordinary users and companies alike, has attracted scrutiny from lawmakers in several countries around the world. The currency is not controlled by any government or central bank, and has lately been at the center of several controversies that critics say highlight the need for more oversight.
Mt. Gox, a bitcoin exchange that was once the world’s largest, filed for bankruptcy protection in February after losing 850,000 bitcoins worth more than $450 million (a big chunk was later recovered).
LOS ANGELES—The Internal Revenue Service said Tuesday that bitcoin would be treated and taxed as property, joining other efforts to bring more oversight to the controversial digital currency.
In its first big ruling on bitcoin, the agency noted that “it does not have legal tender status” and will be taxed under codes that apply to property transactions.
That means wages paid to workers in bitcoins will be subject to federal income and payroll taxes. Those who “mine” virtual currencies – or create new bitcoins by solving complex math problems – will have to report their earnings as taxable income.
Bitcoins can also be treated as capital assets, regulated under the same rules that govern stocks and bonds, the IRS said.
The agency’s decision was applauded by Sen. Thomas Carper, D-Del., who has called on the U.S. government to lead the way for regulating bitcoin and other virtual currencies.
The guidance “provides clarity for taxpayers who want to ensure that they’re doing the right thing and playing by the rules when utilizing Bitcoin,” Carper said in a statement Tuesday.
Bitcoin, which has gained a following among ordinary users and companies alike, has attracted scrutiny from lawmakers in several countries around the world. The currency is not controlled by any government or central bank, and has lately been at the center of several controversies that critics say highlight the need for more oversight.
Mt. Gox, a bitcoin exchange that was once the world’s largest, filed for bankruptcy protection in February after losing 850,000 bitcoins worth more than $450 million (a big chunk was later recovered).
FrankTailor
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How are you going now, early adopters