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2
votes
1answer
108 views

Tax deduction for US-based employer paying in Bitcoin to overseas contractor

My employer can write off business expenses (my salary) if he pays me via wire transfer, PayPal, Payoneer and some other international payment systems. Is there a tax-deductible method for him to buy ...
3
votes
6answers
686 views

For US Tax purposes, is Bitcoin mining more like property, “work to solve a puzzle” or “winning a lottery”?

From a taxation perspective, I think it's important to clarify if running a Bitcoin mining operation is more like property exchange, labor to solve a puzzle, vs winning a lottery that runs every 10 ...
3
votes
1answer
128 views

Using Ripple for assets accounting, loans, deposits, stock exchange, etc

If Ripple can handle money as exchanger, is it possible to use it for other financial operations like assets accounting, loans, deposits, stock exchange etc.?
4
votes
3answers
306 views

What are ways a BTC Exchange could steal from its customers, and how can they protect themselves?

Mt Gox is the dominant Exchange that handles BTC to USD conversions. Given the recent spike in price, and that Mt Gox is the primary exchange that publishes this price, it's conceivable that a second ...
5
votes
2answers
522 views

Can Ripple gateways operate as fully transparent fractional reserve banks?

Any Ripple gateway that establishes a solid reputation will be tempted to switch to fractional reserve issuance of its own IOUs to increase leverage (which is exactly what the existing comercial banks ...
3
votes
1answer
226 views

What is the “unit of account” in terms of Bitcoin?

Traditional economics depend on a "unit of account". Can anyone explain how a "unit of account" would be manifested in Bitcoin if so desired?
3
votes
0answers
75 views

Is there an asset tracking software that supports Bitcoin? (Better than GnuCash) [duplicate]

Possible Duplicate: Any multi-currency accounting ledger that lets me use BTC? I'm looking for a way to manage all of my assets. I have various assets in multiple currencies & ...
0
votes
1answer
442 views

Is using bitcoin for savings a risky choice? [closed]

I'd like to start saving money and there are a few options. Cash provides anonymity but it's very susceptible to steal and I must have a physical space for it. A bank account is much safer but I ...
3
votes
1answer
207 views

BTC Days Destroyed, Lifo or Fifo?

Imagine I've got 100 BTC in my wallet, which I accumulated at different points of time. When spending a fraction of my BTC, e.g. 10 BTC, which one of my 100 BTC do I actually spent? The last one I ...
-3
votes
2answers
60 views

A different question about a kind of use [closed]

Imagine I want to change the formula of transactions between a group of people who want to use this money in this way: "Everyone will have a maximun quantity of money to waste in the month, and ...
5
votes
4answers
1k views

Any multi-currency accounting ledger that lets me use BTC?

Are there any online or open source (i.e., free, or at least cheap) accounting systems that do multi-currency so that I can record revenues and payments made using BTCs in the same system that I use ...
7
votes
1answer
254 views

How to do precise accounting with bitcoind?

I'm considering making a service that would be handling user deposits in Bitcoins through a server running bitcoind. Upon purchasing something through the service, I want to withdraw the precise ...