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Posted on 04/04/2014 6:52:11 AM PDT by Errant
eBay’s main US site has introduced a category for ‘Virtual Currency’, with listings for dozens of bitcoin and altcoin-related activities – including shares in mining operations.
Although eBay is still not accepting bitcoin as an official payment, any recognition of the currency is significant since eBay is the parent company of PayPal, the payments firm long earmarked for disruption by many bitcoin fans.
The popular online auction site and marketplace quietly included the category in its ‘Category Changes‘ list for April under ‘Coins and Paper Money’.
At press time there were multiple entries for bitcoin and altcoin trades, Mining Hardware, and ‘Mining Contracts’, where investors are invited to buy per-gigahash shares in existing and proposed cryptocurrency mining operations. Search results revealed hundreds of mining-related listings not yet categorized.
(Excerpt) Read more at coindesk.com ...
Does Bitcoin bypass the Federal reporting that banks make on transfers of over $10,000?
Just asking.
Dwolla. Works well!
TNX
The reporting requirements are the same as if you are transferring gold from one person to another. It is treated as an asset.
If you are asking when someone converts bitcoin to fiat, is there a reporting requirement? It would be the same as getting a wire transfer from the sale of a stock.
Thanks.
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