Bonita Springs, FL, Atilus, a full-service web development and Internet marketing firm, has become the first ad agency in the United States and state of Florida to accept Bitcoins. Bitcoin is a decentralized digital currency that enables payments to anyone in the world. Bitcoin refers
Warren Buffett said bitcoin “is a mirage” and compared it to checks and money orders. “A check is a way of transmitting money, too. Are checks worth a whole lot of money just because they can transmit money? Are money orders? … The idea that
Rep. Steve Stockman (R-Texas) is the outsider’s outsider — what other Texan would spend a freezing New Year’s hundreds of miles away in New York City? But there he was last night at the launch event for the NYC Bitcoin Center, located just up the
Social game maker Zynga is testing Bitcoin as a new way to pay for your in-game purchases of chickens, power-ups, and assorted doodads. Zynga launched a test today with BitPay, a Bitcoin service provider. You can now make in-game purchases using Bitcoin while playing select
Beauchamp-McSpadden, a multiline insurance agency located in Indiana, has been accepting Bitcoin payments for the past six to nine months. Although Bitcoin is fairly new to the retail space, the company has found that the benefits of accepting Bitcoin outweigh the risks. “Bitcoin is pretty
Local real estate attorney Bryan G. Jeansonne kicked off the new year with a new way of doing business. On Wednesday, Jeansonne’s firm, Dore Jeansonne, began accepting the digital currency Bitcoin as a method of payment, along with more traditional modes of payment like credit
The year 2013 has been an unforgettable one for Blockchain. The website features an online wallet service and tools to watch and analyze bitcoin transactions in real time. As the number of wallets has doubled from 500,000 since November, the world’s most popular bitcoin website
Taiwan’s Financial Supervisory Commission (FSC) will not allow the installation of Bitcoin ATMs in the country because it believes Bitcoins are not a currency and should therefore not be accepted by individuals or banks as payment, said FSC chairman Tseng Ming-chung. Tseng Ming-chung’s statement was
The next stage of consumer adoption for Bitcoin is here. Mondo Cellars, a winery on the Central Coast of California, has begun the next step in the evolution of the Bitcoin by creating a new ecosystem model of business, education and commerce with cryptocurrency at
Currently 3D printing isn’t nearly as easy or as fun as it needs to be in order to catch on, but Formlabs is trying to change that. At CES 2014, the company released PreForm 1.0, an updated and simplified version of its beta software that’s
Increasingly, Louisiana merchants are accepting Bitcoin, a virtual currency that is not issued by a particular country, as payment for services. But what, if any, impact does that have on state law? For the most part, it doesn’t change much of anything. Louisiana can treat
GoCoin, a leading payment platform for the Bitcoin economy, today announced it is participating in Giving Tuesday by asking the Bitcoin community to contribute to its #GO4Good campaign and raise money for the Boys & Girls Clubs of Santa Monica (BGCSM). Through its online campaign
What do a street-van burger, a wedding bouquet and a Beatles album have in common? They’re all on a growing list of products shoppers can buy over the counter using the virtual currency Bitcoin. From Berlin record store Long Player to the Flower Lab, a
With the year 2013 coming to an end, the world’s leading forex news portal ForexMinute has selected the year’s best Bitcoin brokers based on their performances throughout the span of 365 days. The ones which have bagged the top three positions are TitanTrade, TradeRush and
A Kosciusko County hotel is adding a new way to pay for stays that is truly embracing the digital age. Starting January 1, the Brooke Pointe Inn in Syracuse will accept BitCoins as payment. BitCoin is a decentralized form of digital currency that allows direct
Beijing’s ban on Chinese financial institutions from handling Bitcoin transactions has created trade opportunities for a Taiwanese online shopping service operator that will start accepting the virtual currency Jan. 1. Chinese people who possess Bitcoins are expected to be more willing to use the digital
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After trading in a range for the past few days, bitcoin prices staged a breakout today hitting a high of $710 on BitStamp before pulling back. On BTC-E, the highest high reached today stands at $686.99. One bitcoin is currently trading at $643 on BTC-E, this compares to $682 on BitStamp.
In some good news for the cryptocurrency today, UK’s HMRC (Her Majesty’s Revenue and Customs, the tax agency) issued some guidelines regarding ‘’bitcoin and other similar cryptocurrencies’’. Here are some of the more important points from the brief.
– Income from bitcoin miners is VAT (value added tax) exempt
– Income Tax: business profits from cryptocurrencies is taxed as normal income
– Capital Gains: gains or losses from cryptocurrencies allowable as capital gains for an individual or corporation tax for a business
– Gambling gains are not taxable but losses cannot be offset against other gains
– Charges for arranging transactions in cryptocurrencies is VAT exempt
– Cryptocurrencies transferred to fiat is VAT exempt
– VAT due as normal for selling goods or services paid in cryptocurrencies (the VAT will be calculated in GBP based on the value when the transaction occurred)
– Corporation Tax: no special rules apply, cryptocurrencies will be treated as foreign exchange and loan relationships
The ruling more or less puts Bitcoin and other cryptos on the same footing as regular fiat foreign currencies. This is a substantial improvement over earlier HMRC rules that stipulated a VAT charge of 20% payable on every bitcoin transaction.
Source: http://www.forexnews.com/blog/2014/03/03/bitcoin-breaks-briefly-touches-710/
Originally posted 2014-03-05 02:07:25.
Since bitcoin became ubiquitous in libertarian circles over the past year or two, the question has now become: what is the best alternative to government-issued fiat money? Gold and silver or bitcoin and litecoin? The answer depends on who one speaks with. One libertarian will say gold is true money and has been around for 6,000 years, while another libertarian will opt for bitcoin because of its technological innovation.
Last year, it was no secret that the yellow metal experienced its worst year in more than a decade. Bitcoin, meanwhile, experienced its best year in its brief history: jumping from a few dollars to as high as $1,200. This was evidence to many bitcoiners that the digital currency was the superior hedge to inflation rather than gold.
BitcoinFast forward to this year and the narrative has been revised. Gold has started off the year strong and has increased at least 10 percent and is now trading at close to $1,350. Bitcoin, continuing its volatile ways, felt $400 in February, but is making considerable stride as it’s trading again at nearly $700.
One of the fantastic attractions that gold and bitcoin share is the anti-inflationary aspect. Gold used to be able to prevent governments and central banks from expanding the money supply, while there is a limit on how much bitcoin can be created or mined.
In an article published Tuesday on Gold Made Simple News, one author by the name of Detlev Schlichter stated that gold and bitcoin share many other elements that are superior to the current monetary standard of trusting former Federal Reserve Chair Ben Bernanke or his successor Janet Yellen.
“Under a gold standard you have to trust Mother Nature and the spontaneous market order that employs gold as money. Under Bitcoin you have to trust the algorithm and the spontaneous market order that employs bitcoins as money (if the public so chooses). Under the fiat money system you have to trust Ben Bernanke, Janet Yellen, and their hordes of economics PhDs and statisticians.”
Slate.com, a left-leaning news publication, claimed that “bitcoin is as good as gold. For a monetary standard, that is not very good.” It cited the Gold Standard as being the primary culprit behind the Great Depression – of course, the article omitted the accounts of officials partaking in the expansion of the money supply, artificially low interest rates, government intervention into the economy by the Hoover and Roosevelt administrations (President Calvin Coolidge can also take some of the blame) and World War I.
Goldbugs will regularly state that if you can’t hold it you don’t own it – this argument has been made by former Texas Republican Congressman Ron Paul as well. Goldbugs will also point to the various virtual robberies, insolvencies and hackings as proof that the cryptocurrency is inferior to the yellow and silver metals.
So, what is the better option: gold or bitcoin? Perhaps investors could accomplish what many bitcoiners did early last year: buy bitcoin when it’s low and when it’s higher sell it in order to buy gold., or vice versa.
Source: http://www.pfhub.com/gold-or-bitcoin-which-one-is-the-libertarian-choice-against-fiat-money-438/
Originally posted 2014-03-05 01:58:20.
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