Bitcoin is a decentralized digital currency first developed in 2009. Most Bitcoin-related questions should be asked at the Bitcoin Stack Exchange.

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51 views

Safety of holding bitcoins in the long term [migrated]

Say I wished to hold a lot of bitcoins for many years as an investment. My worry would be about the long term safety of the different wallet mechanisms. If it's a website - what if it goes bust or ...
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0answers
43 views

Bitcoin as a local currency? [closed]

Can Bitcoin work as a local currency and is Bitcoin being applied as such in some communities around the world?
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2answers
127 views

Should I Invest in Bitcoins? [closed]

How good is the idea to invest in bitcoins and what are the other alternatives with minimum risk to gain better returns.
0
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1answer
129 views

How to avoid maintenance fee when balance drops below minimum?

Looking for a way to, in the event of a purchase dropping my balance below the minimum daily balance (MDB) with no way to bring it above the MDB before the end of the day, make 6 point of sale (POS) ...
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1answer
89 views

Bitcoin Cost Basis Purchases

Suppose that a client purchases 10 BTC over a price range of $180 to $290 and transacts twice with his BTC for a total purchase of 2.7BTC. Two questions: Based on this, the IRS taxes bitcoin like ...
0
votes
1answer
159 views

Is Bitcoin practical? How does Bitcoin actually work in real life? It's a good way to invest? Did you use it only for shopping? [Edit] [closed]

How can I use Bitcoin? Is it convenient to convert euros/currency to Bitcoin and use it for shopping? Or is it better to hold the Bitcoin hoping for it to become more valuable and reconvert some back ...
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1answer
148 views

Virtual currency investment

Let's suppose I have some ammount of money in virtual wallet like Paypal or Bitcoin. Are there ever any systems or institutions which would enable one to invest virtual currency, for example, loan at ...
-3
votes
2answers
2k views

MintCoin App. Do we actually get money? Is it applicable outside US? [closed]

I came across this app MintCoin which claims to give you points equivalent to some US dollars for downloading apps or watching videos. I'm wondering if it actually works or just a way to fool people? ...
5
votes
1answer
225 views

What's the proper way to calculate ROI per year given the ROI for a period of time?

I'm trying to figure out what would be my yearly ROI if I know my ROI for a given period of time. On May 1st, I started invested 8.82 BTC in loans on BitLendingClub and now (August 6th) I have 9.33 ...
4
votes
3answers
184 views

Do I need to report to FInCEN if I had greater than $10,000 worth of bitcoin in a foreign bitcoin exchange?

I have heard that FinCEN requires people in the U.S. to report foreign financial accounts with greater than $10,000 in them. This is the FBAR if I'm not mistaken. Do I need to report to FInCEN if I ...
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votes
3answers
463 views

Is Bitcoin a commodity or a currency [duplicate]

Bitcoin can be classified as a currency as it can be used as an medium of exchange or classified as an commodity given its speculative and volatile nature. What should we classify Bitcoin as ??
0
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2answers
260 views

Micro-Investing vs. cryptocurrencies vs. Forex trading

i am a student with a small monthly income. i wan to take about 20-10 % of it for a medium-risk investment , and i was wondering what would be the best option. my personal banker does not have an ...
0
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1answer
243 views

Do UK tax rules allow you to hold Bitcoin in a SIPP?

Do United Kingdom tax rules allow you to hold Bitcoin in a self-invested pension plan?
7
votes
1answer
195 views

Where to categorize crypto-currencies

In Germany, crypto-currencies like Bitcoin are all over the news lately, making me aware of the fact I don't know much about them. A journalistic TV program I was watching yesterday even claimed ...
7
votes
2answers
147 views

Taxation from variations in currency

Assuming: I am a UK tax payer I live in the UK Assume I sell a good online, for $100. One payment method I accept is Bitcoins. Bitcoins at the moment are extremely volatile, it wouldn't surprise ...
11
votes
3answers
822 views

When and how should I pay taxes on ForEx trades?

I am an Israeli citizen. I've bought BitCoin (let us agree for sake of discussion it is a currency) using US dollars. Let's also assume I never convert the bitcoins to any other currency (but instead ...