Both bitpiggy (bitpiggy.com) and bitinnovate (bitinnovate.com) are both Australian, and accept bank deposit/transfer.

Their prices aren't brilliant, so if you don't need to buy _today_ then I think you'll be better off going with mtgox.  Given you're still messing about with account verification on gox, either of these would suit your needs.

*forehead slap*

Seriously?  The are only just now working on this?!

OK.

So, what's the plan for payment, specifically for those transferring shares to burnside's PT (like myself).

Cancel my 2 orders for 10 @ 1.0

Add new order for 20 @ 1.02

Still half an hour to go.  Only 4:27 UTC now.

So, the guy whose BFL unit you shipped 3 weeks ago hasn't been running it since then?  That was kind of him, leaving all those coins for the rest of us....

Derp me!  Thanks.

I increased my offer to 20 shares in a later post.  did i miss the deadline?

      https://bitcointalk.org/index.php?topic=181894.msg1902212#msg1902212

Upping my order to 20 @ 1.0

Still for burnside's PT

I'm pretty sure the "type" of gain from bitcoin is still to be decided.  I think it would be hard to argue that unrealised gains from held bitcoins are taxable.  By that same logic, unrealised gains from the Monet I have hanging in my loungeroom (I wish!!) are taxable income every year.

But to say that it's not at all taxable is just plain ignorant - but I acknowledge there is a difference between taxable and able-to-be-taxed.  

Mutli-way payment introduces extra complexity I think.

In many bets there is the potential for a push - bet is cancelled, or is a draw.  Given that a feature of the bitcoin escrow is the ability for the payer to get their money back, that means that each bet payment would need to be controlled by a different private key.


For the simple 2-payer suggestion (a one-against-one bet), it should be fairly trivial for the payment invitation to generate two addresses. 

One address is sent to the second party with the payment invitation, as per a regular escrow.

The second address is paid into by the first party, and sent to the second party so they can verify that the address matches the payment invitation, and verify that payment has been made.

Just a minor modification, but I think it should work.

This is really cool.  I've just been playing with http://www.bitescrow.org/

Took a while for me to get my head around it, but damn, this is an awesome idea.

Let me just write this out, so I can get it straight in my head.

We have three people, Bob (the beneficiary), Alice (the customer) and Eddie (the escrow).

Eddie the escrow generates an escrow transaction and sends an invite to Alice and Bob.

Bob generates a payment invitation using his invite, and also a bitcoin payment address.  He sends the invite and address to Alice.

Alice puts in her escrow invite and her payment invite, which allows her to validate the invites and the payment address.

Then Alice makes payment to the address (easily verifiable from the blockchain).

For 'someone' to collect the bitcoins, they need both escrow invites and the payment invitation, which will generate the private key that 'owns' the address the payment was made to.

Eddie knows the two escrow invites.
Bob knows his escrow invite and the payment invite.
Alice knows her escrow invite and the payment invite.

So any two of the three can release the funds.  And for either Alice or Bob to let Eddie take the funds (which should never happen), they need to actively send him extra information.

Can I just say again - this is incredibly cool!

This.  Profiting from bitcoin whilst living in the USA would be no different to profiting from trading Euro/JPY.  You're making a profit and you need to pay taxes.  The "oh it's global" and "oh it's brand new" is self-serving self-justification that is rooted in nothing but wishful thinking.

Now, you could mount an argument that unrealised bitcoin gains aren't taxable until said gains are realised - either by sale or by exchange for goods/services.  But I have no doubt that once you sell bitcoins for fiat or trade bitcoins for a good/service, you are liable for tax on those gains.

So someone who acknowledges that their taxes pay for roads, schools, the fire and police departments, hospitals, just to name several, and hence feels that freeloading by avoiding taxes is a dick move, is "brainwashed" or "stupid".

And as for the "you don't have to" argument because governments don't know what bitcoin is yet - it's a thing you got at price X, and you sold at price Y.  So at a minimum, if you convert your profits (Y-X) to fiat you have some kind of tax bill.  The other side - spending bitcoins bought (or mined) at X for something at Y (Y > X) - is something that governments will have to decide how to classify, but don't think that just because they haven't issued a ruling yet means your profits are free.

Try this on for size - if you don't pay you fair share of taxes then you are a freeloader, and I hope your house burns down, or you die in the street after being hit by a car, or some other fate that is deserving of someone who's willing to take the benefits of living in a society but isn't willing to contribute to the financial upkeep thereof.

If you don't want to pay taxes, move to a country that has no (or minimal) taxes.  There are plenty around.

Very cool.

I recall seeing this before, and have now read into it further.  This looks incredibly cool.  I'd love to act as 3rd party just to give it a try.

I guess the only downside is, as you acknowledge, the bull needs to deposit extra bitcoin to account for adverse exchange movement.

I'm guessing that this would be implemented as two separate three-party transactions, given that each transaction has a single payer?

This is the first time I've done this, so I'll offer it for the cost of the conversion trades on each side (0.6% each way, per person, so 1.2% each).

The only proviso is that I won't carry any delay risks for conversion of bitcoin to US$.  As long as the size of the bets aren't large and you send the coins when I'm awake and at a vaguely pre-determined time, the price you send at should be the price I buy at.

If you're willing to trust me and mtgox, I can offer said service.  I am in Australia, so my USD account is empty.   There are others on these forums that offer escrow services as well.