Someone just made a $147,239,214 Bitcoin transfer

Post by watty » Fri, Nov 22, 2013, 6:28 PM UTC

mariusz79 wrote: post #48

btbuildem wrote: post #33

Earlier quoted context omitted.

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.

Let's say that you pay for Virgin Galactic ticket - that will be a fairly large transaction pointing to your wallet. Someone will be able connect the dots and find out that you also bought Viagra, and a penis enlargement pump. Do you really want that connected to you? Another case - you buy something from one of the stores that accept bitcoins. That store may have the address of your bitcoin wallet. They will be able…

Post by elliottcarlson » Fri, Nov 22, 2013, 6:30 PM UTC

josephagoss wrote: post #41

elliottcarlson wrote: post #30

Earlier quoted context omitted.

priority = sum(input_value_in_base_units * input_age) / size_in_bytes A recently received single bitcoin can have a transaction fee, while one that has aged may not.

Damn, how do you do quotes?

Post by moocowduckquack » Fri, Nov 22, 2013, 6:31 PM UTC

mariusz79 wrote: post #27

Well, 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.

Post by Blue_Hole » Fri, Nov 22, 2013, 6:32 PM UTC

steven2012 wrote: post #46

gsharon wrote: post #35

Earlier quoted context omitted.

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

The government can tax anything it wants. For example, barter exchanges are taxable by the government, even if no actual money changed hands. They would just put a dollar figure on the barter, and then tax it accordingly. Bitcoin doesn't have to be a currency in order for the government to tax any gains made on its sale or transfer.

Post by id_ris » Fri, Nov 22, 2013, 6:34 PM UTC

steven2012 wrote: post #46

gsharon wrote: post #35

Earlier quoted context omitted.

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

The government can tax anything it wants. For example, barter exchanges are taxable by the government, even if no actual money changed hands. They would just put a dollar figure on the barter, and then tax it accordingly. Bitcoin doesn't have to be a currency in order for the government to tax any gains made on its sale or transfer.