New to Bitcoin

[MarshallSambell]

Hi,

A friend introduced me to Bitcoins around this time last year. At the time I didn't think much about it because it seemed like something that was never going to become mainstream, but now I'm kicking myself because I wish that I invested all I had in them!

I've been reading over these forums the past few days and decided to make an account to discuss things with like-minded people about Bitcoins.

The thing that appeals to me about Bitcoins is the fact that there are no taxes and they are not controlled by any government.

I'm interested in investing and mining to make a profit, I have purchased a modest setup of three Antminer U1's which have been running for about a month now and are beginning the process of repaying themselves.

I live in Australia which isn't the most Bitcoin friendly country now Gox is gone, so if you live there as well feel free to send me a private message to talk about anything.

Once again hi,

M

[shorena]

-snip-
The thing that appeals to me about Bitcoins is the fact that there are no taxes and they are not controlled by any government.
-snip-

Not sure how the laws are in australia, but in germany bitcoin is considered private money and if you earn money with it you still have to pay taxes.

[MarshallSambell]

Not sure how the laws are in australia, but in germany bitcoin is considered private money and if you earn money with it you still have to pay taxes.
[/quote]

The Australian government is trying to pass a law declaring bitcoins currency and how to put them in a tax report but they haven't done it yet.

[atc1]

Hey and welcome!

Taxes may still apply in the long run,especially seeing as to how you need to link your bank account to withdraw or deposit cash into the exchanges. And not the government,but as you have seen,market forces can cause drastic changes in bitcoin's value.

[shorena]

Hey and welcome!

Taxes may still apply in the long run,especially seeing as to how you need to link your bank account to withdraw or deposit cash into the exchanges. And not the government,but as you have seen,market forces can cause drastic changes in bitcoin's value.

...or you can change BTC for cash via https://localbitcoins.com/
It works like a marketplace where you can agree with someone else on almost any payment.

Or you try to fine someone here https://bitcointalk.org/index.php?board=53.0

[Crossbow376]

Marshall, welcome to the bitcoin world and bitcointalk

[Dannie]

The thing that appeals to me about Bitcoins is the fact that there are no taxes and they are not controlled by any government.

It is true that bitcoin is decentralized, but it is still unclear how bitcoin is taxed.
http://www.nationaljournal.com/economy/how-is-bitcoin-taxed-the-irs-doesn-t-know-20140126

Anyway, welcome to bitcointalk.