+John Teacake MVC Posted July 12, 2010 MVC Share Posted July 12, 2010 Anyone got any thoughts on this? The Concept seems quite interesting however I think its doomed from the start . . . http://www.bitcoin.org/ Link to comment Share on other sites More sharing options...
Nick H. Supervisor Posted July 12, 2010 Supervisor Share Posted July 12, 2010 A program that's trying to create a new form of currency? What would be the application of this? Also, from the sounds of it it's in competition with something like PayPal (as far as transferring money from one person to another goes) which means that they're going to have a struggle on their hands to get this off the ground, seeing as PayPal is pretty much used for any form of currency transfer over the Internet. Of course, I could have the idea of this application completely wrong. Link to comment Share on other sites More sharing options...
Konstanov Posted July 13, 2010 Share Posted July 13, 2010 This is textbook money laundering which is illegal. Link to comment Share on other sites More sharing options...
+Xinok Subscriber² Posted July 13, 2010 Subscriber² Share Posted July 13, 2010 It is actually legal to use your own form of currency. But you must pay tax on it like any other form of currency, otherwise it's tax evasion. ... Earning trade or barter dollars through a barter exchange is considered taxable income, just as if your product or service was sold for cash ...http://www.irs.gov/businesses/small/article/0,,id=113437,00.html Link to comment Share on other sites More sharing options...
+John Teacake MVC Posted July 13, 2010 Author MVC Share Posted July 13, 2010 This is textbook money laundering which is illegal. How do you work that out? Your not cleaning dirty money in anyway? Link to comment Share on other sites More sharing options...
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