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Local / Other languages/locations / Re: Singapore
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on: January 29, 2014, 01:23:03 PM
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Is there any GST or additional tax that will be charged to the person buying/selling bitcoins on a local exchange?
I'm not 100% sure, but from the guidance it seems that if you are a GST registered person (i.e. company?), then the BTC you sell in Singapore, be it through and exchange or in person, is GST taxable on the full amount (BTC value + commission). Proper local exchanges will only be charged GST on their commission.
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Local / Other languages/locations / Re: Singapore
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on: January 29, 2014, 01:11:59 PM
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There's the Hwz thread you may have come across. It just happens that just now all 3 sites I went to were not fully functional for a while.
Will be great if Coinbase expands to Singapore
Unfortunately, the direct buy/sell model that Coinbase uses will result in them having to collect GST based on the recently released taxation guidance from IRAS. Relevant paragraph from http://www.coindesk.com/singapore-government-how-we-intend-tax-bitcoin/The GST treatment of the supply of bitcoins will depend on whether the company is acting as an agent or principal in the transaction. If the company merely facilitates and is acting as an agent in the bitcoin trade (eg: bitcoin exchange transfers bitcoins directly to a customer’s wallet), then GST is chargeable only on the commission fees received. However if the company is acting as a principal in the bitcoin trade (eg: it buys and onward-sells bitcoins to the customer), GST is chargeable on the full amount received, ie: the sale of bitcoins and commission fees.
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Local / Other languages/locations / Re: Singapore
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on: January 29, 2014, 12:32:34 PM
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Fybsg is now accessible. These outages appear to have occurred previously if you check other forums. I've used FYBSG everyday for the past 2 weeks or so without any problems. Care to share these other forums that report they were down? Perhaps the users made the mistake of trying to connect to http://www.fybsg.com/ which wouldn't work. The site needs https.
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Local / Other languages/locations / Re: Singapore
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on: January 29, 2014, 12:04:49 PM
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FYBSG have been down for quite a while!
Coinsupermart never heard of it, and its now under maintanence? Itbit have suspicious activities in their order books, and its also currently offline.
Guys, seriously we need ONE rock solid exchange in Singapore if we want Bitcoin to be adopted in the country.
I have been using both https://www.fybsg.com and https://www.itbit.com and am currently logged in without any problems. Did you just sign up for a new account here to slander them? Post evidence if otherwise.
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Local / Other languages/locations / Re: Singapore
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on: January 24, 2014, 01:04:58 AM
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BTC-E -4 % IS NOT BAD , I JUST A SMALL EXCHANGER AND THE PRICE IS ALWAYS CHANGE , RIGHT ? SOME BIG EXCHANGER CAN NOT OFFER BETTER THAN ME !
In Singapore, we can easily sell on local exchanges for between bitstamp to bitstamp + 5% prices, or even more through localbitcoins. Nobody here will sell their BTC to you for btc-e -4%. Give up.
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Local / Other languages/locations / Re: Singapore
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on: January 22, 2014, 10:55:36 AM
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Since you got a referral in there... Is coinbase of any use for people without American bank accounts?
Not David, but I'll answer since I use Coinbase. It's probably useless without a US bank account. Can't wire in funds like a real exchange. You could use it as a wallet I guess, but it's a lousy wallet. Main problem is it sometimes take a while to broadcast outgoing transactions.
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Local / Other languages/locations / Re: Singapore
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on: November 21, 2013, 07:41:35 AM
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I may do Bitstamp rates. How much BTC are you looking for? F2F meet up?
Yes F2F, but not in Singapore yet. When I'm there in the next few months I'll PM you. Thanks!
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Local / Other languages/locations / Re: Singapore
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on: November 21, 2013, 07:01:20 AM
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I have no idea how the others price them but I used Preev for my rates (MtGox).
Yeah that's pricey. I was hoping to buy at Coinbase or Bitstamp rates.
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Local / Other languages/locations / Re: Singapore
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on: November 21, 2013, 06:55:04 AM
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Coinbase allows up to 50BTC to be bought a day, not instant but you do lock in the rate at time of purchase. Is there a reason you are not doing that?
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Local / Other languages/locations / Re: Singapore
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on: November 21, 2013, 06:18:29 AM
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You can meet me at an MRT station and pay via cash, then I'll send you some BTC with my phone. c:
How do Singaporean sellers generally price them? And you?
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Other / Beginners & Help / Re: When will BTC be worth $100,000 per BTC???
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on: November 21, 2013, 05:53:01 AM
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There is going to be a ton of computing power that will go online in the next 90 days. I highly suspect the next jump will be by March to around $1200 to $1500.
I don't think hashing power is correlated to the increase in price.
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