Looking for a place to trade after bitfloor and would rather not send money or BTC overseas. Problem is they don't   seem to have good liquidity.

Do I need to wait 3 days for trades to settle like normal stocks? Or can I just jump in and out of USD/BTC constantly? Also is there an easy way to keep track of trades for taxes? Anything else I should know before trading?

Thanks!!

Anyone have recent experience with them? Wondering if my $$ is going to be safe or if it would be used to pay back hack victims.

Hi All,

I was thinking about exchanging  some USD to BTC and buying Bitcoin securities.  I'm worried about the legal and tax implications though.  Anyone have experience with this? Would I report the currency gain/loss on my 1040? Then the capital gain/loss on 1099 and 8949? Can you even report an unregistered security like the various Bitcoinin ones? I think it would be fun to do some trading but don't want to break any laws . This is for the USA BTW.

Thanks for any info!

Hi All,

I'm new to bitcoin and have been reading various FAQs and the forums. I still don't quite get where bitcoins are stored. If I mine some through a pool, they will go into a wallet in my computer? But how do I use those coins on my computer to buy stuff? Also if I bought BTC with USD on MtGox, where are those coins stored? Do I download them to my computer or does MtGox act like a bank where I can buy/sells stuff by giving out my MtGox account number?

Sorry for the noob questions, confusing to get in to all this!!