Should this be regarded as capital gains from currency speculation, when it comes to taxation, or how does something like this look to a tax attorney or accountant?
This might help: http://www.bitcointax.info/
Someone just made a $147,239,214 Bitcoin transfer
31–40 of 474 posts
Re: Someone just made a $147,239,214 Bitcoin transfer
#32Should this be regarded as capital gains from currency speculation, when it comes to taxation, or how does something like this look to a tax attorney or accountant?
It is capital gains if it appreciates in value and is traded for anything else (dollars, euros, gold, real estate, livestock, etc.)
Re: Someone just made a $147,239,214 Bitcoin transfer
#33Well, this is just another reason why bitcoin will not work - you can track money changing hands.. Certain three letter agencies would have not trouble tracking most of the transfers, all over the world.
Or why it would be ideal to be used by the government - so we could track how they move money around, prevent corruption and generally keep an eye on the untrustworthy ones.
Re: Someone just made a $147,239,214 Bitcoin transfer
#34If you look at the tree view, the lump sum has already been broken down into smaller bits.
https://blockchain.info/tree/98324324
Click the yellow circles to expand the tree nodes.
Re: Someone just made a $147,239,214 Bitcoin transfer
#35Should this be regarded as capital gains from currency speculation, when it comes to taxation, or how does something like this look to a tax attorney or accountant?
The government would have to consider Bitcoins as a currency for it to be taxed like a currency. Right now it has no status identified for legal purposes so no way to tax it.
I am sure that several governments are looking in to it as we speak. Death and taxes
Re: Someone just made a $147,239,214 Bitcoin transfer
#36Well, this is just another reason why bitcoin will not work - you can track money changing hands.. Certain three letter agencies would have not trouble tracking most of the transfers, all over the world.
I think this is why it's more likely to work - you can decide who you want to trade with -- and if there's "bad money" discovered, then you can decide to not accept it. That system doesn't exist yet to help facilitate that ecosystem however. I'd like to see it though.
Re: Someone just made a $147,239,214 Bitcoin transfer
#37Must be someone buying a seat on Virgin Galactic
Re: Someone just made a $147,239,214 Bitcoin transfer
#38Well, this is just another reason why bitcoin will not work - you can track money changing hands.. Certain three letter agencies would have not trouble tracking most of the transfers, all over the world.
Except that Zerocoin and Coinjoin are being developed and may one day become default in Bitcoin. This is still early days. Satoshi did amazing novel things, but he couldn't do everything.
Re: Someone just made a $147,239,214 Bitcoin transfer
#39Were any of these previously-thought-lost "dark" bitcoins, or was it all live bitcoin currency?
Re: Someone just made a $147,239,214 Bitcoin transfer
#40Must be someone buying a seat on Virgin Galactic
Isn't a seat 400 Bitcoin? That is a lot of seats, maybe they are buying the rocket and plane?