41–50 of 54 posts
With only an 8% surcharge! What was that about low/no processing fees?
A lot of Bitcoin holders bought/mined them at much lower prices than current $100. Compare this 7% premium when buying things to a potential 20-30% capital gains tax you'd have give up when cashing out via exchange.
Earlier quoted context omitted.
A lot of Bitcoin holders bought/mined them at much lower prices than current $100. Compare this 7% premium when buying things to a potential 20-30% capital gains tax you'd have give up when cashing out via exchange.
BTW, you probably still owe capital gains tax when you buy something with Bitcoin.
It's interesting to hear about offline merchants accepting bitcoins. I wonder how much of it has to do with the fixed card processing fees as a component of the small transaction size. The goal would seem to be when the restaurant can pay their bills in bitcoins, so they never have to convert it to a fiat currency at all.
It's a pity that they're still pricing the drink against a fiat currency (in this case, Sterling). I look forward to a day when I'll be able to pay a consistent 0.05/0.1 BTC for a pint.
All their costs are still in Sterling. It takes a long time to complete the circle and break dependence on a particular currency.
Earlier quoted context omitted.
I think bitcoins just count as assets
They probably get taxed as income at the point they're converted into Sterling. (I'm not an accountant or lawyer.) Does anyone think Bitcoin might gain greater adoption if more accountants and lawyers knew how to advise their clients?
Earlier quoted context omitted.
A lot of Bitcoin holders bought/mined them at much lower prices than current $100. Compare this 7% premium when buying things to a potential 20-30% capital gains tax you'd have give up when cashing out via exchange.
BTW, you probably still owe capital gains tax when you buy something with Bitcoin.