Bitcoin Forum
June 21, 2024, 10:13:58 AM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: Bitcoin is now considered Art and not a currency  (Read 2377 times)
CryptoCurrencyInc.com (OP)
Sr. Member
****
Offline Offline

Activity: 476
Merit: 250



View Profile
January 22, 2014, 03:23:53 PM
 #1

Bitcoin is now considered Art and not a currency

Bitcoin is making an art critic out of the Swedish taxman.

The largest Nordic economy is set to reject Bitcoin and its competitors as a currency and instead give the software the same tax treatment it would an antique Persian rug or a painting by Andy Warhol.

“Currencies are traditionally tied to a central bank or a geographic area,” Olof Wallin, an official at the Swedish Tax Agency who’s drafting rules for Bitcoin and the programmers who generate it, said in an interview. The Stockholm-based agency will probably “view Bitcoins as what we call another asset -- just like art or antiques.”

http://www.bloomberg.com/news/2014-01-21/bitcoin-becomes-art-as-swedish-taxman-rejects-creative-currency.html

                                                                               
                 
                                                       ╓▄▌██P                   
                                                 ╔▄▌███▀███▌                   
                                           ▄▄▌██▀▀╚  ╓██╩██                     
                                     ▄▄███▀▀╙      ▄██  ▓█                     
                               ▄▌███▀▀+          ▄█▀   ▐█                       
                        ,▄▌███▀▀¬              ▓█▀     █▄                       
                  ,▄▌███▀▀                  ,██▀      █▌                       
               '█████▌▄▄,                 ╓██╩       ██                         
                  ▀██▌▐▀▀▀█████▌▌▄▄╓    ▄██¬        ▄█                         
                     ▀██▄        ╚▀▀▀████          ▐█═                         
                        ▀██▄        ▓█▀██          █▀                           
                           ▀██▄  ,██▀   █µ        ██                           
                              ▀███Z     ██       ██                             
                                ▐██     ▐█      ▄█                             
                              ,,╓╓█▓▄▌   █▌    ▐█U                             
                        º▄▓▓▓▓▓▓▓▓▓███   ▀█    █▌                               
                          ▀█▓▓▓▓▓████▀█▌  █▌  ██                               
                            ▀███████▌  ▀█µ▀█ ██                                 
                              ▀█████     ███▓█                                 
                                ▐███      ▀██Ñ                                 
                                            ▀                             

Lethn
Legendary
*
Offline Offline

Activity: 1540
Merit: 1000



View Profile WWW
January 22, 2014, 03:27:20 PM
 #2

This is actually one of the first articles that made me say "Oh for fucks sake" out loud Tongue
hilariousandco
Global Moderator
Legendary
*
Offline Offline

Activity: 3850
Merit: 2647


Join the world-leading crypto sportsbook NOW!


View Profile
January 22, 2014, 03:40:56 PM
 #3

Bitcoin is now considered Art and not a currency

Bitcoin is making an art critic out of the Swedish taxman.

The largest Nordic economy is set to reject Bitcoin and its competitors as a currency and instead give the software the same tax treatment it would an antique Persian rug or a painting by Andy Warhol.

Currencies are traditionally tied to a central bank or a geographic area,” Olof Wallin, an official at the Swedish Tax Agency who’s drafting rules for Bitcoin and the programmers who generate it, said in an interview. The Stockholm-based agency will probably “view Bitcoins as what we call another asset -- just like art or antiques.”

http://www.bloomberg.com/news/2014-01-21/bitcoin-becomes-art-as-swedish-taxman-rejects-creative-currency.html

Haha, but Bitcoin isn't a traditional currency. Marriage used to be between a man and a woman but people need to get with the times.

This is actually one of the first articles that made me say "Oh for fucks sake" out loud Tongue

I guess you don't read too many mainstream media articles then?  Grin

  ▄▄███████▄███████▄▄▄
 █████████████
▀▀▀▀▀▀████▄▄
███████████████
       ▀▀███▄
███████████████
          ▀███
 █████████████
             ███
███████████▀▀               ███
███                         ███
███                         ███
 ███                       ███
  ███▄                   ▄███
   ▀███▄▄             ▄▄███▀
     ▀▀████▄▄▄▄▄▄▄▄▄████▀▀
         ▀▀▀███████▀▀▀
░░░████▄▄▄▄
░▄▄░
▄▄███████▄▀█████▄▄
██▄████▌▐█▌█████▄██
████▀▄▄▄▌███░▄▄▄▀████
██████▄▄▄█▄▄▄██████
█░███████░▐█▌░███████░█
▀▀██▀░██░▐█▌░██░▀██▀▀
▄▄▄░█▀░█░██░▐█▌░██░█░▀█░▄▄▄
██▀░░░░▀██░▐█▌░██▀░░░░▀██
▀██
█████▄███▀▀██▀▀███▄███████▀
▀███████████████████████▀
▀▀▀▀███████████▀▀▀▀
▄▄██████▄▄
▀█▀
█  █▀█▀
  ▄█  ██  █▄  ▄
█ ▄█ █▀█▄▄█▀█ █▄ █
▀▄█ █ ███▄▄▄▄███ █ █▄▀
▀▀ █    ▄▄▄▄    █ ▀▀
   ██████   █
█     ▀▀     █
▀▄▀▄▀▄▀▄▀▄▀▄
▄ ██████▀▀██████ ▄
▄████████ ██ ████████▄
▀▀███████▄▄███████▀▀
▀▀▀████████▀▀▀
█████████████LEADING CRYPTO SPORTSBOOK & CASINO█████████████
MULTI
CURRENCY
1500+
CASINO GAMES
CRYPTO EXCLUSIVE
CLUBHOUSE
FAST & SECURE
PAYMENTS
.
..PLAY NOW!..
Lethn
Legendary
*
Offline Offline

Activity: 1540
Merit: 1000



View Profile WWW
January 22, 2014, 04:17:21 PM
 #4

I do unfortunately, but I think this one in particular.... Art? Really?
Johnny Bitcoinseed
Full Member
***
Offline Offline

Activity: 154
Merit: 100

Johnny Bitcoinseed


View Profile WWW
January 22, 2014, 04:18:27 PM
 #5

Lamestream media strikes again.

Do yourself a favor and stop reading and watching that stuff, it rots the brain.

Sincerely I am, Johnny BitcoinSeed .com
Kenshin
Sr. Member
****
Offline Offline

Activity: 280
Merit: 250


View Profile
January 22, 2014, 04:18:53 PM
 #6

This is interesting. Art is it...  Cheesy
krampus
Member
**
Offline Offline

Activity: 98
Merit: 10

Village Idiot


View Profile
January 22, 2014, 04:33:00 PM
 #7

Given the generally slow pace of government agencies, I don't think this move is especially egregious. I might even class it as reasonable, coming as it does from government regulators. The key word that most of you missed (because you were too focused on the spin imparted by Bloomberg) is the word "Asset". Other government agencies have settled on classifying Bitcoin much like a security. Both are reasonable interpretations in these early days of something that hasn't really existed before.

But in your eagerness to laugh at this Bloomberg spin, you missed perhaps the best part of the article:

Quote
Swedish tax authorities are also looking into how to treat Bitcoin miners -- programmers who unlock new Bitcoins by using ever-faster computers to solve complex mathematical problems. Wallin said the question is whether they should be taxed as businesses, a classification that would allow them to deduct some equipment from taxes.

Sounds like Sweden is actually approaching this with a reasonable degree of sophistication.

I pledge never to use this space for sleazy referrals, gambling spam, or to beg for handouts.
Lethn
Legendary
*
Offline Offline

Activity: 1540
Merit: 1000



View Profile WWW
January 22, 2014, 04:42:48 PM
 #8

Quote
  programmers who unlock new Bitcoins by using ever-faster computers to solve complex mathematical problems.

What?
krampus
Member
**
Offline Offline

Activity: 98
Merit: 10

Village Idiot


View Profile
January 22, 2014, 04:44:47 PM
 #9

Quote
  programmers who unlock new Bitcoins by using ever-faster computers to solve complex mathematical problems.

What?

Have you never before witnessed the press trying to dumb-down a complex concept for the masses?

I pledge never to use this space for sleazy referrals, gambling spam, or to beg for handouts.
Lethn
Legendary
*
Offline Offline

Activity: 1540
Merit: 1000



View Profile WWW
January 22, 2014, 05:23:00 PM
 #10

Not to this extent! LOL!
Gabi
Legendary
*
Offline Offline

Activity: 1148
Merit: 1008


If you want to walk on water, get out of the boat


View Profile
January 22, 2014, 05:31:24 PM
 #11

Ahahah this show us how ridicolous the current laws and governments are. Lol, art. So it is priceless! Ahahah

hilariousandco
Global Moderator
Legendary
*
Offline Offline

Activity: 3850
Merit: 2647


Join the world-leading crypto sportsbook NOW!


View Profile
January 22, 2014, 05:39:47 PM
 #12

Quote
  programmers who unlock new Bitcoins by using ever-faster computers to solve complex mathematical problems.

What?

Have you never before witnessed the press trying to dumb-down a complex concept for the masses?

Kinda makes sense though. There was something that made me laugh at how they'd simplified the process in an article from the Telegraph. I'll try find it.

  ▄▄███████▄███████▄▄▄
 █████████████
▀▀▀▀▀▀████▄▄
███████████████
       ▀▀███▄
███████████████
          ▀███
 █████████████
             ███
███████████▀▀               ███
███                         ███
███                         ███
 ███                       ███
  ███▄                   ▄███
   ▀███▄▄             ▄▄███▀
     ▀▀████▄▄▄▄▄▄▄▄▄████▀▀
         ▀▀▀███████▀▀▀
░░░████▄▄▄▄
░▄▄░
▄▄███████▄▀█████▄▄
██▄████▌▐█▌█████▄██
████▀▄▄▄▌███░▄▄▄▀████
██████▄▄▄█▄▄▄██████
█░███████░▐█▌░███████░█
▀▀██▀░██░▐█▌░██░▀██▀▀
▄▄▄░█▀░█░██░▐█▌░██░█░▀█░▄▄▄
██▀░░░░▀██░▐█▌░██▀░░░░▀██
▀██
█████▄███▀▀██▀▀███▄███████▀
▀███████████████████████▀
▀▀▀▀███████████▀▀▀▀
▄▄██████▄▄
▀█▀
█  █▀█▀
  ▄█  ██  █▄  ▄
█ ▄█ █▀█▄▄█▀█ █▄ █
▀▄█ █ ███▄▄▄▄███ █ █▄▀
▀▀ █    ▄▄▄▄    █ ▀▀
   ██████   █
█     ▀▀     █
▀▄▀▄▀▄▀▄▀▄▀▄
▄ ██████▀▀██████ ▄
▄████████ ██ ████████▄
▀▀███████▄▄███████▀▀
▀▀▀████████▀▀▀
█████████████LEADING CRYPTO SPORTSBOOK & CASINO█████████████
MULTI
CURRENCY
1500+
CASINO GAMES
CRYPTO EXCLUSIVE
CLUBHOUSE
FAST & SECURE
PAYMENTS
.
..PLAY NOW!..
BitchicksHusband
Sr. Member
****
Offline Offline

Activity: 378
Merit: 255


View Profile
January 22, 2014, 06:56:42 PM
 #13

Quote
  programmers who unlock new Bitcoins by using ever-faster computers to solve complex mathematical problems.

What?

This is not that bad of an explanation, actually.

1BitcHiCK1iRa6YVY6qDqC6M594RBYLNPo
inquisitive
Newbie
*
Offline Offline

Activity: 25
Merit: 0


View Profile
January 22, 2014, 07:46:47 PM
 #14

Well since every opinion is subjective, then I guess we should just treat it that way. The most important thing is that we can earn real cash with bitcoins and that's all that matters, whether someone considers it as an "art" or a "currency".
btcfre@k
Sr. Member
****
Offline Offline

Activity: 286
Merit: 250


View Profile
January 22, 2014, 07:48:39 PM
 #15

 Cheesy i dont know if this request to laugh or to cry Cheesy

bitcoinanalyzer.com and havingbitcoin.com for sale
whtchocla7e
Full Member
***
Offline Offline

Activity: 392
Merit: 116


Worlds Simplest Cryptocurrency Wallet


View Profile
January 22, 2014, 07:57:14 PM
 #16

The most important thing is that we can earn real cash with bitcoins and that's all that matters, whether someone considers it as an "art" or a "currency".

Hahahahaha. Of course... We are all just playing digital monopoly.
Huh

Quote
▂▂▂▂▂▂▂▂▂▂▂▂▂▃▅▆█ L E A D █▆▅▃▂▂▂▂▂▂▂▂▂▂▂▂
World's Simplest and Safest Decentralized Cryptocurrency Wallet!
▬▬▬▬▬▬▬ • STORE • SEND • SPEND • SWAP • STAKE • ▬▬▬▬▬▬
pening
Sr. Member
****
Offline Offline

Activity: 245
Merit: 250



View Profile
January 22, 2014, 08:49:05 PM
 #17

I do unfortunately, but I think this one in particular.... Art? Really?

Did you actually read it through?  The reaction ties with the headline but one point explains...

"The move would place Bitcoin in an asset class that includes antiques, jewelry, stamps and copyrights."

So any creative asset.  Bitcoins are created, so it seems a reasonable alignment.
Trongersoll
Hero Member
*****
Offline Offline

Activity: 490
Merit: 501



View Profile
January 22, 2014, 09:30:12 PM
 #18

I do unfortunately, but I think this one in particular.... Art? Really?

Did you actually read it through?  The reaction ties with the headline but one point explains...

"The move would place Bitcoin in an asset class that includes antiques, jewelry, stamps and copyrights."

So any creative asset.  Bitcoins are created, so it seems a reasonable alignment.

Yeah, no where is it said "Bitcoin is Art". It must be a reading comprehension, or second language issue. Tongue
franky1
Legendary
*
Online Online

Activity: 4256
Merit: 4532



View Profile
January 22, 2014, 10:12:46 PM
 #19

guys chill out, the UK and other european taxmen are also thinking the same thing. and the thing is, they are right.
emphasis on thinking. as its not been made official in most euro countries.. yet

but here is why they are right:

bitcoin is not a commodity, a share or a stock. its features resemble an asset. and as such the tax machines are treating it as such.
bitcoin in most countries descriptions of tax category, puts bitcoin in the 'asset' category.


now the bit in the article about currencies having to be linked to banks etc.. that is talking about FIAT currencies (legal tender) not about 'common currencies' which can be anything

now to clarify further. a currency can be absolutely anything.
people can treat gold as a currency - yet the tax man treat it as a commodity
people can trade business ownership as a currency - yet the tax man treats that as shares
people can trade business produce as a currency - yet the tax man treasts that as stock
people can trade vodka, cigarettes, labour as a currency - yet the tax man has other categories for these.

what im trying to say is whatever the taxman describes it has has no relevance to whether its a currency or not.

now lets get more detailed on tax:
when trading bitcoin for any product, (with barter considered) most countries beleive the trades occur on a 1:1 ratio meaning what you receive is on near equal value to the bitcoin value, thus no profit or loss has occured.

again in most countries the only time tax is applicable is on selling the bitcoin for FIAT, in which case in majority of countries income tax is applicable.

this is good for bitcoin, atleast talk to a accountant or tax expert before whining on the forum about bitcoin being considered an asset (same classification as art)

I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
johnyj
Legendary
*
Offline Offline

Activity: 1988
Merit: 1012


Beyond Imagination


View Profile
January 22, 2014, 10:34:06 PM
 #20

Digital art, digital asset , sounds very positive, these things are much more valuable than money

Pages: [1]
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!