http://www.theguardian.com/technology/2014/dec/19/bitcoin-hit-tax-blow-australiaAustralia’s tax authorities have ruled that bitcoin transactions are subject to the goods and services tax (GST), suggesting that the cryptocurrency is not likely to be classed as “money” in the near future.
The ruling mainly applies to Australian businesses running bitcoin exchanges, which let customers trade real money for the digital currency. The decision means that when bitcoin is bought from an exchange, it will have to pay GST on the supply of bitcoin.
GST does not usually apply to financial transactions, meaning that a conventional money exchange does not have to charge the tax when Australians buy foreign currency.
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Looks like bitcoin remittance services are on uptrend. This one is particularly interesting, as it allows to withdraw received funds from bank ATMs: Philippine bitcoin exchange and remittance service Coins.ph has added an 'instant remittance' service to its list of options, allowing recipients to withdraw sent funds directly from a bank ATM.
Using the company's mobile app, customers anywhere in the world can deposit cash via a bitcoin ATM and have a friend or relative collect it instantly from a bank machine. Money can also be sent directly from bitcoin balances in Coins.ph web wallets. http://www.coindesk.com/bitcoin-firm-enables-remittance-withdrawals-450-philippine-bank-atms/ |
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So i need to make 50 posts till 02 January?
Is for those that joined only 12 days before 02 January this limit maybe smaller?
5 posts a day is not that small for me. But i will have more time next days as usually have.
I think it's actually till 31st Dec. Payments are suppose to be made by 2nd. |
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Hard to get synced.. few nodes.. no payments for a week..
No dev?
soooo .. is this coin kapuut?
Yes, it's game over for SPC, unless the dev magically re-appear with a good excuse (coma or jail). No dev, no nodes, no payments and on top of that strange pictures start appearing in the first post  :  |
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transferring money would still be necessary as the agents that receive cash fiat will need to deposit the funds to the bank to replenish their exchange account while the agents disbursing the cash will need to sell bitcoin and withdraw to their bank account in order to replenish their cash on hand. This will cause additional costs as customers will need to pay for the costs associated with the same transporting of cash plus the exchange spreads/trading fees that the agents incur
Yes, the agents would still need to transfer money from/to local bank and possibly to the exchange (not sure how it's organised on both ends). But if they manage to use bitcoin to replace the international transfers, and reduce the currency conversion costs that would probably be the crucial part, giving them the edge over standard services. And apparently bitspark also provide bitcoin exchange services, so they may be able to further optimise/reduce costs of the BTC/fiat conversion part for their agents. http://bitcoinmagazine.com/18021/bitcoin-and-cryptocurrency-exchange-bitspark-io-launches-securing-cyberport-tech-incubator-seed-capital/https://www.bitspark.io/I hope they'll provide some more details soon. |
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Hello pawel, sorry there was an issue on preloaded link with minimum wager, we have just fixed that  You can try to register using the same link again or please let me know if you want the balance to be credited to hkloss2. Works like a charm now. Thanks for getting this sorted out. |
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This is just adding an extra step. Unless each BitSpark agent is separate from all the others then there is no reason why BitSpark could not just have the money move internally just like Western Union does. However if each agent is independent then you would essentially be sending bitcoin to an unknown person with no real way of knowing if they can be trusted (and knowing how many bitcoin related scammers are out there, they probably cannot be).
I assume Bitspark will just create payment system and operate through the network of registered agents (local merchants etc), so similar to WU (they also use independent agents). Sure, the internal system of IOUs sounds like fastest and easiest solution, but what you're missing is they still need to send the physical cash and redistribute the funds adequately to all the agents to regulate the balance. So it is actually more complex and likely far more expensive. Using BTC as transfer tool, the whole process is completed when the recipient gets the money. With the IOU system - it's not. Also, internal system means single point of failure. I haven't use WU much, just few times in my life, but happened to me on 2 occasions when agents refused to take the order because 'system was down'. As for the scam risk, it's probably very similar, assuming agents' verification process is the same. Fraudulent agent can deny that he ever received bitcoins, but he may just as well refuse the payment to the recipient. If someone does not have access to electricity then I can't see how any company would be able to be setup to know when it is appropriate to disburse money to someone else.
I just used it as an example. Since there are many areas with no electricity (or even clean water) it's an overstatement to say that pretty much everyone in the world have access to the internet and smartphones. The fact that 'there is internet in Ethiopia', doesn't mean that 100% of Ethiopians have access to it. There are still areas in Europe (not sure about US) with no (or very poor) mobile network coverage.
bitshark seem to be ...
i have not used bitshark...
It's 'bitspark'  Using 'shark' in any money/trust related business would be pretty bad marketing move |
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Are you guys still accepting bitcoin house investments or no? If so, how do I invest?
You need to ask either here, or in chat (if you see admin there) to unlock this option for you. That's what I did. |
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Just adding additional feature: now you can set a minimum withdrawal for players registered using your preloaded link, this make sure your preloaded balance doesn't get withdrawn right away Hi. I was just testing this option, created pre-loaded ref link (0.001) on my account (pawel7777). I registered new acc through that link (username: hkloss2) but my balance is zero, so nothing has been credited. It would also be very useful to have a tracking option on preloaded ref links with the option to cancel if unused etc. |
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This does not make much sense to me. Why would they "use" bitcoin but not make either party aware of it? Unless the receiver is vulnerable to exchange rate movements then bitcoin is not really being used. They are likely only saying they use bitcoin as a marketing ploy
This makes perfect sense. Bitspark just acts as an instant BTC/fiat exchange. Sender gives $100 (+fee?) to the BitSpark agent -> agent sends $100 in BTC to another agent --> they convert to the local currency --> recipient gets $100 (equivalent) Bitcoin is used as a transfer tool. The parties (sender, receiver) don't really have to know what's going on in the background. I don't know how would that work on converting BTC to local currency, they'd need to either accept the risk of exchange rate changes, or have an option to 'lock' the rate. Also much of the world (even in 3rd world countries) have internet access and smartphone access and I imagine that it would not be difficult to get a BTC ATM installed in places that tend to receive a lot of money from overseas
I think you overestimate internet/smartphones accessibility in the poor countries. There are still wide areas where people have no access to electricity (or very limited). |
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@hazenyc - your point is valid.
You don't get any richer by just holding PoS coins, you just maintain the same portion of your holding (same % of total market cap).
Basically stacking up coins gives you protection from inflation and nothing more, that's still "better" than PoW (but there are other factors that give PoW the advantage).
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A computer science student, Krzysztof Okupski, has developed a cheap and censorship-resistant messaging service built on top of the bitcoin blockchain. http://www.coindesk.com/students-aims-boost-free-speech-bitcoin-messaging-app/Okupski hopes that his software might one day help dissidents worldwide to circumvent restrictions on freedom of speech.
He said:
"Binding a payments network like bitcoin together with an anti-censorship system forces any repressive government to either accept or abandon both. Abandoning it might not be very smart, however, since bitcoin is an active and growing currency that an economy could benefit from.” Very nice project. Off course it won't get any massive popularity (due to some fees for sending messages), but the mere presence of such app will add value to bitcoin network. It hasn't been released yet, but it should be available soon on the author's github page: https://github.com/minium |
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In any event,these Atms give bitcoin a bad name,they aren't about pushing bitcoin forward they are about making money,its a scam.
OK, simple question for you, why won't you develop and install your own bitcoin ATM which doesn't charge any fees? Since you're asking others to operate without profit (therefore making loss) why don't you do it yourself? |
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There is no real reason to need to use their service to send money back "home" via bitcoin. All you need to do is buy bitcoin on an exchange then send it to an address that a family member controls in their home country then the family member can sell the bitcoin on an exchange and/or use it to buy goods/services
This only works when recipient knows how to use bitcoin, has internet connection and has access to legit exchange, which can be a problem. With BitSpark you don't even need to know what the bitcoin is to use it. Bitspark managed to offer their customers a better solution. Just as with Western Union, the sender simply dispatches real money from the sending office, and the recipient gets the equivalent amount in local currency after the money reaches destination office. Bitcoin is still used in this system as an intermediary transfer method, but neither the sender nor the recipient is aware of it. The thing is, with Bitspark you won’t need a Bitcoin wallet at all, and the company can afford to set the lowest transfer fee possible to attract more customers to use their Bitcoin remittances. |
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I don't invest or put my btc on anything unless I'm 100% sure it's legit.
Well, technically speaking you can never be 100% sure that any business is legit. It's a good practice not to keep any significant amounts with any 3rd party for longer than it's necessary. |
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I put my wallet got hacked, but that isn't entirely accurate. What happened was I got scammed out of a few coins on localbitcoins...
I just hope we won't see anytime soon the major news reporting: "Recent survey shows that 99% of bitcoin users have had their wallets hacked" or anything like that |
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Yet another poorly designed survey. What should goxxed people answer? I don't know whether gox was hacked or not.
This. Lots of people (if not most) got screwed by dishonest exchanges, who claimed to be 'hacked' which was very likely massive bullshit. Should they tick "Online wallet" and "My wallet got hack et", even know both are not correct? |
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The US does not jail people for speaking out against the government...
But it does jail and torture people without trials and prosecution (Guantanamo, CIA prisons in eastern Europe). Sure, you can say that it's somehow justified, but it only shows you that all the noble principles of freedom, justice etc. are nothing but the empty words. You are allowed to criticise US government probably only as long as your opinion is worthless. If they see you + others as a real threat, you could expect a reaction, possibly something in cointelpro style. http://en.wikipedia.org/wiki/COINTELPRO |
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