If I set up a company to buy/sell BTC only for trading purposes, when the company purchases bitcoins is there a VAT liability created? Obviously exchanges do not collect VAT, but was wonder if anyone has insight into this? I live in Sweden. There is no VAT on currency and also not on Gold, but there is VAT on silver. Note that there is VAT on all sales regardless of currency. If my evil corporation sells you 1 painting in EUR or BTC then I have to pay VAT on that in SEK. You seem to want to exchange BTC or SEK or PLN or something like that and there is no VAT involved. Think about it, no bank will charge VAT if you exchange EUR for PLN or PLN for SEK. Haha yea I know it should work like that but you know dealing with governments and bureaucracy, you get stuff that does not make sense occasionally.
|
|
|
why would they post that? you can transfer the cash to bitstamp and coinbase, and sell on gox and repeat and make a easy 5% profit
If it was possible to withdraw on mt.gox have you tried to withdrawal 5+ figures? anyway it is very common for transactions of that size coming from outside the US to take a couple weeks to clear at least... if it was otherwise BTC probably would not exist lol
|
|
|
Also, I think that if millions of dollars a day worth of wires were going out to the gox customers, there would be more than 1 person who allegedly received one.
There should be dozens of people on here posting that the wires are going through again (unless they are just keeping it to themselves to maintain the major arb op).
why would they post that? you can transfer the cash to bitstamp and coinbase, and sell on gox and repeat and make an easy 5% profit
|
|
|
Hopefully monday will prove to be plentiful for withdraws at gox. I feel i've been waiting forever.
is it the backlog of withdrawals they have left? or have they not even started processing them There's a distinct lack of credible posts from anyone saying they received USD for the last 6 weeks or so. If they had been processing hundreds of withdrawals over the last two weeks surely someone would have posted. It would certainly be in Gox' interests to encourage them to post, or even to give priority to processing the withdrawals of forum regulars. Even if they were scamming they would be smart to pay out a few forum regulars to give the impression everything is OK. I conclude either they are completely skint or they are hopeless. someone did post here https://bitcointalk.org/index.php?topic=179586.380... looks like they are hooking up whales but everyone else is getting shafted... I can confirm that my "5 digit+" withdrawal was quite timely. In fact, it arrived yesterday.
I think this person was mistaken, if you look a few posts after they post saying they received their "5 digit wire" a few people ask to see a screenshot, and the reply was that it went to confirmed in his status, but that it hasn't actually cleared his bank account. Since not one person has actually shown us a wire to the USA in the past couple weeks, i'm not even so sure their "whales" are getting wires either (I have a substantial 6 figure balance with them as well and don't get any information from support or anyone else. I've started slowly withdrawing my coins at a few percentage loss and selling them elsewhere just to get my money out of gox. The way things seem to work in the bitcoin world, i can't afford my money being tied up for months or potentially years. first of all I do not see a reply from that username. that post was his last post... https://bitcointalk.org/index.php?action=profile;u=40007;sa=showPostssecond so by saying "cleared" do you mean that the bank had received the wire but was holding the funds for some period, which would be typical for large transfers and int'l wire? i have had 5+ figure deposits of checks take a couple weeks to "clear" when a bank is not used to seeing that happen on my account, etc...
|
|
|
Hopefully monday will prove to be plentiful for withdraws at gox. I feel i've been waiting forever.
is it the backlog of withdrawals they have left? or have they not even started processing them There's a distinct lack of credible posts from anyone saying they received USD for the last 6 weeks or so. If they had been processing hundreds of withdrawals over the last two weeks surely someone would have posted. It would certainly be in Gox' interests to encourage them to post, or even to give priority to processing the withdrawals of forum regulars. Even if they were scamming they would be smart to pay out a few forum regulars to give the impression everything is OK. I conclude either they are completely skint or they are hopeless. someone did post here https://bitcointalk.org/index.php?topic=179586.380... looks like they are hooking up whales but everyone else is getting shafted... I can confirm that my "5 digit+" withdrawal was quite timely. In fact, it arrived yesterday.
|
|
|
Considering that Mtgox hasn't processed any USD withdrawals for over a month and Karpeles is simply lying about that suggests to me that there are serious, serious issues at Mtgox. I wouldn't be surprised if Karpeles takes the money and runs.
Due to recent changes in Gox's BTC withdraw protocols (now sometimes requiring "verification"), it is quite obvious that Gox is implementing flow of funds control measures. yes and they registered with fincen recently... he cannot take the money and run because you know there are a few wise guys that would be looking for him, and a large white man in asia is pretty easy to spot...
|
|
|
I can confirm that my "5 digit+" withdrawal was quite timely. In fact, it arrived yesterday.
Lol as usual the leet get hooked up while everyone else gets it in the shorts....
|
|
|
To try to answer your question in the mean time, I need more input (at least) on the following. 1) Are trading bitcoins the only activity of the company? 2) Who are the buyers? Other companies or individuals? Local or international? Or "don't know" because the company would sell on an exchange like mt.gox? 3) Who are the sellers? (Same questions as sub 2) 4) Where would the transactions take place? Locally, in Sweden and in Poland, or abroad on an international exchange?
Feel free to send me a pm so we can mail or skype about this more in detail. [/quote]
ok thanks I will send you a PM on monday.
answers are: the US parent would have multiple lines of business but a subsidiary could be set up if needed; the buyer would only be the company; also the company; intl exchanges. the company would use the funds of investors/owners.
|
|
|
I am available for work! I take pride in my work and how it represents me.
Currently, I am pursuing an MS, Industrial Management focusing on entrepreneurship and innovation management. I would like to augment my time with some paid work, I do not have a set rate in mind as it will depend on the work and results that you are looking for. If you have something in mind make an offer and I will try to work something out.
I can write short articles, PRDs, MRDs, business plans, put together press packets, newsletters, market research and analysis, etc. Also can perform business development and sales type roles as well.
A bit about my background. I have 13+ years of experience working for software and IT consulting companies, some of which I have co-founded. My experience ranges from sales, marketing, tech evangelist, product management and IT project management.
I have written and marketed a business plan for a company I helped start which received $1.8 million in VC within 30 days of 9/11 happening. The entire development team thought no way anyone would invest after that event. Previously, I also managed a news website as well, worked for some large tech firms, and managed development projects.
If you are interested in my services send me a quick PM and we can discuss over chat or skype.
Payment: I accept BTC, LTC, FTC and XPM. I am open to others as long as it easily converts into some way for me to buy a beer. If you need an invoice I can supply that as well.
Cheers!
|
|
|
thanks, it was the time sync indeed
|
|
|
Reading through the complaint and details available, it doesn't sound like there's a pending bitcoin exchange witch hunt forthcoming. There were obviously a lot of people going to the police or talking to attorneys following the collapse, and since the crime was of a ponzi-scheme manner, it needed to be addressed by the SEC.
Every one you take down another 3 are going to pop up internationally. Much like they've been forced to change past practice for Bitcoin, I would not be surprised to find that they are going to have to change tactics for securities. We already know that they are going to have to change somewhat because of the recent crowd funding legislation. Though big surprise they've been dragging their feet on the implementation. Nonetheless, I do intend to fully comply with US Law, so if they're going to recognize Bitcoin as a full-on currency we're going to have to implement some way to validate accredited investors from the US. Even with that, I still think it's better to think of the exchange as a game. Most of what is traded as bitcoin startups is extremely high risk and it still reduces liability should anyone decide it's the exchanges fault they lost money making unwise trades. Cheers. Theoretically speaking, what if some naughty person from the US wishing to continue trading on btct used TOR to access the site? Would you block all of the TOR exit nodes as well as US-based traffic? Also, if you do ultimately decide to close down the exchange to US customers, what kind of warning time frame should we expect, a day? a week? a month? one need only apply the same standards as porn sites use are you a US resident or citizen? click here ... redirect to google.com
|
|
|
it is going to get interesting. looking at the macro picture, this in reality is bad news for US growth.
from a commerce and growth perspective, the current US legal system is really holding back a lot on innovation in how business is done, so that the Federal govt can maintain relevance in a world where it will become less relevant.
luckily I am no longer living in the US. the EU countries for now seem to be much more accommodating to these businesses.
frankly the technology is there, any company can create their own "coin", premine it, and release it to the public in exchange for BTC or any other coin to raise funds. someone needs to design an apparatus that joins this with something like a bitmessage clone which would then allow for voting on shareholder issues tying the bitmessage address with the coin address and a mechanism for rolling up all the votes to ownership addresses, etc. anyway I digress...
|
|
|
How is TradeFortress offer any different from Pirateat40's Ponzi scheme offer? >From at least ____ to ____ (“relevant period”), Shavers, operating under >the Internet name “pirateat40,” offered and sold BTCST investments over >the Internet = >Shavers falsely promised investors up to 7% interest weekly = >In reality, the BTCST offering was a sham and a Ponzi scheme http://www.sec.gov/litigation/complaints/2013/comp-pr2013-132.pdfit is not ... unregistered securities is a pretty big umbrella, lots of other things might qualify like pass through shares... he is royally screwed, if he in some way falls under the laws of the US; based on his writing I think he likely does. if he has ever done an escrow with anyone who does not like him, all the govt agents have to do is find one of the escrow agents, threaten them with prison time for withholding evidence from a criminal investigation, and he is fried chicken... hell there might even be a money reward, the govt does that in some cases... 10% of 2 mil is a tidy sum....
|
|
|
i wonder what this means for all those "pass through" shares.... you know little things like brokers needing to send out 1099-Div and file with IRS.... i see more blood in the water soon...
|
|
|
And by the way do not send me a PM with your western union or paypal scams, or you will get a nasty, vulgar msg from my alterego
Sounds scary lol i hope so, sick and tired of these damn scammers with 6 posts contacting me
|
|
|
And by the way do not send me a PM with your western union or paypal scams, or you will get a nasty, vulgar msg from my alterego
|
|
|
I have not logged into my account on bitstamp for about a month, and just tried 10 times this morning and keep getting this error when putting in the google authenticator code:
Invalid authentication code.
Luckily I did not keep any funds in my account... anyone else get this issue? Kind of scary that it would randomly stop working...
|
|
|
well its been 3 days, and sure enough the funds still arent in my checking account. When i visit the CampBX website, it shows that the order was executed. Just trying to get some feedback on how long you usually wait on ACH withdrawal to your checking account. Gotta pay my rent and child support i aint got time for this shit.
3 days, or 3 business days? Typically I would expect ACH to take 3 business days at a minimum. i submitted it last thursday around 9 pm. so it would have been 3 business days around 9 pm tonight. i figure best case scenario it arrives today or tomorrow U need to start counting from friday... you should have your money hit your account tomorrow Banks have cut off times and you missed it by several hours, they dont work like the bitcoin network...
|
|
|
i am re-instantiating a site that had about 20000 registered business readers, should be ready in a couple weeks.
send me a PM with your skype and lets have a chat
|
|
|
I will read all later but:
how long do you think it will be before bitmessage/namecoin has 500 million (or 1 billion) users?
My goal would be to achieve that in 5 years time. This would require making it easier to use than regular email which I believe is achievable. good luck Lol, I will probably need it . Setting high goals makes life exciting. Great advice. I have decided to set a new goal for how high I will get, my life just got way more more exciting.
|
|
|
|