Bitcoin Forum

I can't disclose my sources, but I can say with some confidence that Australian authorities are going to move on TradeHill sometime this week or next week. The sad part is that TradeHill easily - EASILY - could have obtained licensing or some sort of exemption from Australian financial authorities. Other investigations won't be far behind.

So you keep telling us

Oh and seeing as TH only just started trading in AUS dollars, and considering how notoriously slow government is to act on 'alleged' breaches of the trade practices act, I doubt we will be seeing any 'action' talken against TH in the foreseeable future (if at all).

Btw, which exchange do you work for?

Oh really?

I'm not a Tradehill fan, by far.  But unless you disclose your source.  It's just FUD.


Sorry....

This 1000 times

 ::)

"i can't disclose my sources, but..."

"my brother-in-law heard..."

"the word on the street is..."

"a guy i met in a bar said..."

"michelle bachmann believes..."

* yawn *

Wait a sec ... Pop-corn ...

You got it all wrong, my source say with some confidence that Nigerian authorities are going to move on TradeHill sometime this week or next week.

Just make sure TradeHill sends you guys packs of smokes so you can have a cigarette after you get fucked.

Considering I have a whole 33 dollars in TradeHill and you aren't giving any sources to verify what you say.  I guess I'll take my chances.

Now piss off.  Or you can disclose what you know with sources so we can verify.  If not, again, piss off.

This is pure FUD!! First, if Im not mistaken TH in located in Chile land of Pinochet. Australia has ZERO jurisdiction. If the AU authorities were to do something at most all they could do is stop AUD flowing into TH. Trade Hill has no worries.

I have no fear. Say it! I have no fear.

Tradehill refers to Bitcoins as digital goods/commodity like MtGox does.  With regards to financial services, it makes a big difference to a trade provider whether it is an online market place, or a financial exchange of contracts/promissary notes/stocks representing other things of value with no intrinsic value itself.

Bitcoins that you buy/sell/(trade for goods) is a digital good/crypto-commodity that can amongst other uses (digital identification signatures, message encryption, secure web logins) be bartered as a medium of exchange or crypto-currency.

It seems like Australia and the United Kingdom's tax offices view Bitcoins as having intrinsic value as a commodity (although used as P2P crypto-currency/medium of exchange in barter transactions).  see http://www.theregister.co.uk/2011/06/08/bitcoin_under_attack/

UK considers Bitcoins taxable unique property assets? : "... quoting Her Magesty’s Revenue & Customs as saying that turning Bitcoins into currency could make transactions taxable..."  (turning Bitcoins into currency, turning a digital good into a national currency)

Australian Tax Office considers Bitcoins taxable unique property assets: "... If traced by the Australian Tax Office, Bitcoins would probably get the same treatment as “barter” exchanges, with tax assessed on the value of traded goods or services. ..." (barter of digital goods/services)

Which will also effect TH, afterall, their money will be seized.

Great, this or next week is good, instead of millions in a couple of years, they'll get all $500 or so of it now :) I'm sure this will send shockwaves through the Bitcoin community, causing everyone to abandon it with ehm, abandon.

I love prophets with distinct and up-close dates, they are so easily proven wrong.

If it were any country, I would believe it to be australia. And for that reason I suggest that any exchange operators stear clear away from that hell hole of a "Democracy".

They literally ban more than twice the number of video games than the PRC for example. (http://en.wikipedia.org/wiki/List_of_banned_video_games#Australia)

You cannot purchase what the gov't deems to be "hardcore" pornography.

When I wanted to place bets on Betfair's "Australian" market... basically any bets even RELATED TO australia (placed anywhere in the world) need to be tracked by the australian gambling authority. So I had to fax them individually (on top of faxing all of my info to Betfair) tons of extra information because they are extremely bureaucratic like that.

I even had a friend who swears by not doing business in Australia because of many deals "gone south" many moons ago.

Seriously, be careful doing business in Aussy Land.

It isn't about proving them wrong.  They have the burden to prove themselves right.  And without sources they can say anything.  

I heard Mark from MTgox murdered someone and that Japanese authorities are moving in.  Want to prove me wrong?  That isn't how accusations work.  You have the burden to prove your accusation correct.  Not the other way around.

If TradeHill's affiliate in Australia isn't worried about a pending investigation, why haven't we heard from the affiliate. In the announcement thread, we learned that Jaden Rubenstein would be handling Australia. Surely, if he has all his ducks in a row, he'll come out and let us know that our AUD is safe.

Oh, I get it now.  You are Australian and want to make sure your AUD are safe.  You are going about this all wrong dude.  This isn't an example and this doesn't help your case.  Seriously, you sound like a deranged monkey.

He has no need to let us know our AUD is safe, because it is.

This is a stupid trolling post. DONT FEED THE TROLLS.

oh, and TradeHills HQ is in Chile. Australian authorities have no jurisdiction over there nor do they care enough.

LOL

I agree, but it's "Troll" as in singular.  And it's so much more fun to troll a troll than not to feed one.

Holy shit, the OP has convinced me with their craziness.


KILL EVERYTHING WITH FIRE! NOW!!!!!!!!!!!

Seriously OP, you need to get out tonight.  Get laid.  Drink a few beers.  Take a couple rips off a bong.  Just CHILL THE FUCK OUT.  You aren't convincing anyone.

I believe him yo
http://bbsimg.ngfiles.com/1/3083000/ngbbs412b88a1a11f0.gif
I don't know why, but I do

snarf

sauce please

To much crap from fear mongers posting stuff. A side note, I was wondering about tax on money earned off bitcoins here in Aust so I checked the ATO web site out and you dont have to pay any tax on money gained nor do you need a GST number because there has been no exchange of goods nor is it an income, not going to go through the search again but it wasnt hard to find the info and it was enough to satisfy myself as to any supposed obligations to the governing thieves.
Good luck trying to put what bitcoins are in legalese to put laws to so the protection racket of the govt arm gets a cut.

analog cigarettes are 20th century antiques, just like the fiat USD.

Perhaps a little heavy handed there :-) But the issue of R18 games is big here in Australia right now, and it looks like the people will win, and get what they want (http://www.r18games.com.au/). I hope. The problem we have here, possibly similar to problems in America, is vocal religious political groups trying to speak for everyone, and somehow having more impact than they ought. e.g. Family First:
http://en.wikipedia.org/wiki/Family_First_Party

"Think of the children"

This is why bitcoin is doomed to fail: the astounding level of ignorance of its core adherents. Have you ever filled out a tax form in your life? You sure as shit need to declare stock earnings. Jesus Christ.

Crocodile Dundee knows no national boundaries.

"You call that a currency? This is a currency."

you wanna know something that i've found to be really nice about this forum?  (and the Bitcoin community in general)

there's so much less of that crap here.  that: i have a claim on you because of my religious beliefs crap.

i can't actually think of anything i hate more.

I hear Mark Karpeles, aka MagicalTux, the guy in command of Mt. Gox, is a Taliban suicide bomber.

Surely he'd post his long-form birth certificate and tape a live video camera to his head at all times to prove otherwise, right? I mean, if he has nothing to hide, why wouldn't he?

Ignorance isnt a one way street. I am 49 and have filed many tax returns, these are not stock earning jeebers christos. Dont take my word look at the ATO site.

This accusation is so vague there is no way he could coherently deny it. How could he possibly know that Australian authorities weren't planning on raiding him, or possibly TH headquarters in Chile, or possibly TH offices in the US, or possibly they have an active investigation into something, or possibly they're about to start one, or possibly something else entirely? This accusation is so vague, it can't even be denied.

Hey, digigalt, I heard that you did something so awful that if decent people found out about it, they'd shun you forever. Care to deny that? And please do so with sufficient details so that we will find your denial credible.

I'll watch and wait with interest.  Most likely they will ask them to stop while they work out what regulations apply. 

I didn't find ASIC too draconian when I was dealing with them in financial services (derivatives trading).  Also, I had the benefit of going through the licensing process for my company directly, not employing lawyers and other consultants to demonstrate expertise/capability so I was very familiar with the legal process.  (I'm going to go back through the process again later this year for "fun", but I'm not in Australia)

Yet another thread with the word "imminent" in the title...

Yet another poster with secret "sources"...

This is starting to get old.

You don't give enough detail to know if what you are saying is correct, and as with most tax matters, it will depend on the individual circumstances. People are advised to check how tax is applied to their own personal circumstances.

If anyone still had any illusions: Bitcoin is not anonymous.

This only proves that operations that involve government currency are not anonymous. It says nothing about Bitcoin.

And not, Bitcoin is not anonymous, its pseudo-anonymous.

Exactly, there are two ways to go about changing fiat currencies to Bitcoin. Follow the regulations and appease the government  or risk getting shut down.
Bitcoin exchanges being shut down doesn't help anyone. If you want to buy Bitcoins anonymously there are other methods. 
We will let everyone know before we make additional changes.

Jered

Yup, if you're so hung up on anonymity, meet up with someone at the nearest Starbucks or wait till a Bitcoin ATM reaches your town. Nice going, Tradehill. The more iterations of you there are out there, the harder it's going to be for anyone to ever fully shut you down.

Or if a mod could change the title of this thread that would be great.


Jered

All I pointed out is that bitcoin is very far from being anonymous. I fully understand why you have to comply with regulations and my post was not an attack on you. But " the community"  should be fair to newbies. Bitcoin is not anonymous, unless you follow an extremely limited path. But that is the same with normal currencies. If you only use cash and have no bank account, you're also anonymous.

Very true and a good point.

Thanks,
Jered

yeah, this thread needs to be taken down.