Where will Bitcoin be on 9/4/2018?

Quote: Aussie

For sure it’s his business to declare it or not. Of course like many/most businesses of that nature he may not declare it because he knows he can get away with a certain amount of under the table work. My point is that legally he would have that requirement to declare it as income and therefore the fact that the transaction took place in a currency other than USD would be irrelevant. I’m not sure about in the US but I know that in Australia I wouldn’t have much luck (read none) arguing that I was bartering by transacting in a foreign currency. I have a hard time believing any government will allow a chryptocurrency economy to flourish without stepping in and regulating, monitoring and of course getting their tax revenue. I guess take advantage while you can.

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Interesting. I would assume these are banks that also operate businesses within the US? Not necessarily offering deposit accounts for retail clients but some form of banking business. Speculating of course but it may be a case of them being told if they want to operate there they can’t offer overseas accounts to US citizens. Otherwise there would be no reason for them not to do business with you.

Quote: AZDuffman

His income declaration is his business. I declared the income when I bought the Bitcoin. It gets murky. But say I bought a lot of C$ when the price was low. It gets strong and I say to the contractor, "Mind if I pay you in Canadian?" He is going on a trip so is happy to do so. Do I have to pay "tax" on this? All I did was barter.

Quote: AZDuffman

It is currently next to impossible for an American to get any foreign bank account. Most foreign banks will not touch you due to draconian laws since 9/11. At least this is what I have heard.

Quote: AZDuffman

They would take heroin profits and not care where they came from as long as you declared it I swear!

Quote: Wizard

Why shouldn't they? Shouldn't a heroin salesman pay his fair share too?

Quote: Wizard

I can pretty much confirm this. Only the s&*t banks, like ones with billions in bad debt from Greece, will give an American an account. I've heard if you have in the seven figures to put in the bank, better ones in Hong Kong or Singapore will talk to you. If you get to eight figures then they will talk to you in Europe.

Quote: The e-krona concept

The project proposes the following design for an e-krona in the event that the Executive Board of the Riksbank sees a need to introduce digital central bank money made available to the general public:

The e-krona is primarily intended for smaller payments between consumers, companies and authorities.
The e-krona constitutes a direct claim on the Riksbank, is specified in Swedish kronor and can be held by the general public, financial institutions and companies. It is accessible in real time, 24 hours a day, seven days a week, 365 days a year.
The e-krona does not accrue any interest, but should have a built-in function to make it possible to accrue interest at a later point.
A register-based e-krona is combined with a value-based solution that makes offline payments of small amounts possible and increases their availability for groups that do not want to or cannot have e-krona accounts.
The Riksbank provides the basic functions for the e-krona, but investigates the possibility of using the existing digital infrastructure and invites external actors to propose how the interaction with end-users should be designed.

Quote: Evenbob

Why is nobody here mentioning the meltdown today?

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200 BILLION LOST TODAY ON CYBERCURRENCY ROUT

Quote: Wizard

I don't see it that way. It was all false value, based on nothing. There was no 200 billion dollars waiting for Bitcoin users to sell that disappeared. Real wealth is unchanged.