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Posted on 01/18/2014 12:05:35 PM PST by TsonicTsunami08
You can’t get much more mainstream than professional American sports. In that sense, Thursday’s news that the Sacramento Kings basketball team will let its fans use bitcoin to purchase tickets, jerseys, hot dogs and anything else from its selection of products may go down as a key moment in the digital currency’s coming of age.
(Excerpt) Read more at blogs.wsj.com ...
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I am half tempted to start mining and then get 1-2 bitcoins and then hoarde them...
Do it. I bought my VPN in another country using BTC.
I still don’t get the attraction. It’s still far easier to swipe a credit card to make my purchases.
Are Bitcoin transactions taxable? Considering that it’s worldwide currency online? If not, that’s one way to avoid Comrade Obama’s wealth-redistribution schemes.
If you make a profit from something, it doesn’t matter if you’re paid in dollars, pesos, bitcoins or horse feed.... gains are taxable in this country.
Grace I think you would be better off purchasing Bitcoin at this point. The US Govt. will no doubt come out with some sort of regulations soon. When they announce the price will drop necessarily (unless they say we love it and there will be no new regs. ) . That will be a good opportunity to buy. The rest of the world will care not what the US Govt. does and the price will recover. Bitcoin the currency is a small part of the wave that is the Bitcoin protocol. The whole game is in the process of changing.
Sorry max, replied to the wrong post.
What if you never convert them to dollars? I’ve heard they’re looked at like stocks.
The world is changing under your feet and your reply to every advance on Bitcoins financial front is this silly cartoon and volatilities during massive early adoption growth( volatility is common in adoption of new technology).
If Bitcoin the currency fails, Bitcoin the protocol will carry on with a new currency.
This technology is not going to be uninvented.
Of course this is free Republic and I support your right to post anything you wish. Why don’t you attempt to articulate your objections to Bitcoin and we could have a healthy debate, I welcome it.
That's fine... if I hold a stock for years and it triples in value nothing is owed by me (taxes) until I actually sell it and realize my gain. Bitcoins are no different than any other asset... stocks, art, real estate, etc... sell for a gain and you owe the taxes.
Just because people might be getting away with it for now doesn't mean it's some magical tax-free gift from the cyber-gods... the IRS will surly catch up and demand their pound of flesh.
“I still don’t get the attraction. It’s still far easier to swipe a credit card to make my purchases”.
I hope you didn’t swipe your card as millions of others have at Target stores and now their personal information is for sale on black markets all over the world. Banks don’t know or care about security, Why? Because they are covered against financial loss but your information is compromised and ends up God knows where.
This cannot happen with Bitcoin. Sound attractive?
What are your fees with bank credit cards?
What are merchant fees with bank credit cards?
Banks are sucking the life out of the economy all for the privilege of using your own money.
Nothing about any of this is attractive to me.
There was a $150,000.000 transfer over the Bitcoin network that is registered for anyone to see with virtually no fees ( pennies/shtoshi ) Do you have any idea what a bank would charge? Forget the hassle with arrangements and paperwork.
Fortunately the world is starting to get the attraction and I hope that you get and secure a small portion of your wealth as a hedge with Bitcoin.
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