I'll look into it. If I can set it up so that funding goes directly into it without sitting in our bank account for any taxable period of time, it might pass the test. Thanks. Yes, we're in the U.S.

Yes! It's called greed. (grin)

Sounds like using an exchange that does service US customers AND follows FINcen would be the way to go? Anybody know which ones those are?

I live with this twisted reality, so I guess that's why everyone is missing it. Stocks, Bonds, etc., are all considered either new assets or income. We are not allowed to exceed our set monthly income or she loses medicaid. We can't afford or even access the services she needs to stay alive, without it. Hence the interest in something that only holds "potential" value where the government is concerned.

Any cash in a safe deposit box is counted as income. Expenditure is not income. If the government does not consider Bitcoin a currency or asset(at least when held by an individual), but merely an expenditure, then I can "pseudo-legally" own them without violating the savings rule. At least until they close that loophole.

Da feds: "Hey, you guys know anything about this bitcoin thingy? I dunno, but people are getting away with not giving us our cut! It's on the internets? Didn't we just decide to tax those? Ah screw it. Just go take somebody's money. That'll teach em. And if it doesn't, well money, so we win!"

Yeah, that one gave me good feeling too. Which just about sums it up for alt coins for me. They all seem to be acts of putting the cart before the horse. Maybe once BTC is accepted by a major player like google Play or Amazon, and gets some gestalt mainstream cred, there'll be a place for em.

Let me start with how much I love the phrase "pseudo-illegal bs." This thread does seem to be turning into a sympathy massage. Didn't want that. Was basically looking for reassurance that if I decided to invest in Bitcoins before I fully understood the tech, paper wallet was the safest way to go. As for the rest of your opinions about me and my situation, you're free to have them and express them. But I think I will continue to pollute your forum (at least the newbie area where it seems to be on topic) with mine. Can't find my kite at the moment and I'm bored. (grin)

I started as a rational-anarchist and swerved into a jacksonian (google John Ringo if your interested). The reality of our situation has turned me into someone trying to survive the destruction of my financial class by a government seemingly determined to use ever more blatant tactics to continue the rapid transfer of wealth from everyone else to the wealthiest few, at both the federal and state level. Birds gotta fly, people gotta eat. And let me finish by at least using the word "Bitcoin"at least once, so I don't feel this response is completely off topic. Even for a noob.

Thanks for the sentiment, but it's just life. Until the singularity at least. (grin)

That's the Linux USB2 stick wallet? Did that and it ran really really slow on my system. I remember thinking "god somebody please hack my system and take any coins on here so I never have to access this again". (grin) I'm oldschool tech. I've always relied on the fact that if worse comes to worse, I can format c: and start over. But wrapping my brain around value in the form of a bunch of ascii, and how to keep that secure is messing with me. I'll keep reading and I'm sure I'll get it eventually.

There's no farm to bet. I've looked at Coinbase and it does appear to be one of the safer US based exchanges, if that can be said of a US based exchange. The two-factor authentication is an app? Our budget doesn't include smartphones. Besides, I'm old, and I hate those teeny-tiny screens and keyboards you youngsters all use on them phone thingys. (grin)

I'll look into it. Bitcoins seem more like a long term investment to me.

I hope they are going after an actual crime or criminal. Not just using the faulty logic of "bitcoins are known to be used to purchase illegal items and for money laundering, and dwolla, a US company, enables this by allowing the purchase of bitcoins by US citizens." I hope there are some trade agreements in place between the US and Japan to stop this kind of strong arm tactic.

Abacinate mention Armory as well. Sounds like what I'm looking for. I'll check it out.

I registered today as well. Steep learning curve with Bitcoin and this is the place to do it. 

Total newb here, but is it possible to buy partial Bitcoins with fiat currency? I don't want to mine alt-coins, I want to buy and spend them without the cost of buying BTC at it's current value.

Thanks for the link! I understand the risk, but as long as it's not considered income or asset, and I can store in a secure manner, I don't see it as any riskier than any other investment we're not allowed to make.

The most ironic thing I've had to do is ask them to stop sending us money because it caused us to exceed the allowed income limit. As for holding money for us, that becomes it's own issue. Everybody is supposed to report income, savings, gifts, etc. I'd rather take the risks myself.

This could actually meet the needs of quite a few people we know in the Early Onset and Care Giver communities. If we can get past the moral irony of the whole situation.

I doubt there's anything you can say that I wouldn't agree with. Unfortunately, early onset dementia caught us off guard, drained our savings paying off medical debt, and left us in a situation where we have to participate or lose the ability to pay our mortgage, bills, etc. And the rules are strict. ANY "extra income" in the checking or savings account will disqualify her. We are expected to live government check to government check.

I'm hoping cold storage will be a safe way to save up for the inevitable appliance repairs, car payments when the one we paid off finally dies, house deductibles for the bi-annual hail storm roof replacements we get here in Oklahoma. (grin)