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Posted on 01/23/2014 9:33:19 AM PST by Errant
Ebay is now considering allowing customers to use bitcoin for payment for both eBay and PayPal, sources inside the company told CNBC.
The company hasn't yet made a decision, and is waiting for the regulatory framework to become clearer before it makes a final call, the sources told CNBC. Next month, eBay US and eBay UK will allow its customers to buy and sell bitcoins for the first time.
(Excerpt) Read more at cnbc.com ...
Google To Add Bitcoin Support For Google Wallet
"The problem with current payment technology is that, while effective, it is very slow, inefficient, and vulnerable to hacks and cyberattacks. Bitcoin, while it has many problems of its own, solves a number of the issues the outdated payment technology has been struggling with."
Wouldn’t it be hilarious if this actually became the official currency of the civilized world?
But not in the good way...
Ebay and Paypal talking their book.
Nope, bet alcohol sales are up in NYC and DC.
So, do you pay tax on your sales in bitcoins? :-D
Why not, after the bugs are worked out of course...
Just think, no more big banks, central banks, central governments, freer trade, more equal playing fields and etc. Maybe fewer wars as well? A lot of the conflict is caused by TPTB pitting one side against the other, just like we see Obama, his cronies, the Demonrats and Republocrats doing to us here in the US.
I actually doubt this new paradigm will take affect in time to prevent a collapse of the current mess or world war, but one can hope.
I actually doubt this new paradigm will take affect in time to prevent a collapse of the current mess or world war, but one can hope.
How can governments tax bitcoin?....................
This is the real problem with bitcoin. It represents an existential threat to people who have the power to shut it down. Since you clearly follow bitcoin, am I wrong? Couldn’t our government simply intercept bitcoin related traffic and inject those packets with random errors? (I am sure there are more creative ways to disrupt bitcoin, but that was what occurred to me off the top of my head). If that is the case, then how can bitcoin remain a valid store of wealth, or means of trade?
I hope I am wrong, in that bitcoin could be revolutionary. I just can’t help but shake the feeling that it is too vulnerable.
I've pretty much been Galt for about 4 years now. Haven't backslidden too much accept to satisfy my passion for "tinkering" (purchases) and leasing some mineral rights (income) at what I though was an opportune time - still thinking that was a good move.
I seen lots of opportunities that I've passed on only because I know that half would go to feeding this beast that's destroying our freedoms daily. I'll not be a part of that. What I have acquired, IMO, is something far more valuable: knowledge, perspective, faith, courage and peace. :)
No need for a catalyst, and world history is filled with examples of repeats.
Same way they’d tax anything that gets sold, on the money you got selling it. Until you do something with it bitcoins only have potential value not real value it’s just a thing, like finding a gold coin on the street. Once you do something with there’s a dollar value and revenue and it all gets very easy to tax.
Watch for the IRS to start making rulings that make it extremely difficult and expensive to process bitcoins. Do thinks like require that gains on bitcoin transactions count at the maximum tax rate and not allow losses to be counted at all.
No, those would eventually be rejected and there are ways around blocking traffic and then there is the physical issues of controlling internet traffic.
It would take a collusion of a large number of governments, drastic penalties (capital punishment in many countries) - a worldwide effort to stop what's really a new way of doing things that this new technology allows.
Were governments able to stop the printing press, steam power, horseless carriages, flight, the internet and etc. No, the government ultimately gets its power from the people. That's why it sometimes has to resort to killing millions who oppose its wishes. In the end, people with the help of Devine providence ALWAYS win, even if in some cases it take decades.
When you can buy groceries at Walmart it may be worth something..............
Of course the government and the banks have no reason to fear bitcoins. Currently they’re just dollar storage, if they get used eventually they’ll land at the banks (where people put their money), and even potentially to the government. As long as there’s an understandable rate of exchange it’s just dollars that look funny. If it really takes off it’ll be no different than the places near America’s borders that take the money of both sides, it all gets translated into dollars, stored in banks and taxed.
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