mike_ape

Let’s say a miner spends $2000 on hardware and generates 200 BTC in the first year, with $600 in electric bills. When they sell those BTC the next year, can they deduct the electric costs from the first year?

I just added a section about jurisdictions to the wiki. Let’s gather the info we have.

You can actually export your wallet from Blockchain.info unencrypted. Just import the keys into Bitcoin-Qt afterwards. It’s pretty straightforward.

Here’s a wild story of a bad trade. Someone was selling headphones and met up at McDonald’s. Didn't go as planned seller took both the headphones and the bitcoins. Now I’m kinda wary of trades.

Markers don’t catch bleached bills, so watch out!

If you’re gonna record, you should tell the other person first. A lot of cash trades prefer privacy, and recording could ruin that vibe. Plus, having a camera might attract unwanted attention.

Awesome info, appreciate you sharing this. You nailed it about safety being a priority, just like ShadowLife mentioned. Personal safety has to come first in these trades.

lmao FinCEN calling everyone money transmitters is hilarious. so if i send my buddy some BTC for beer money i'm now a licensed financial institution? that's the kind of regulatory overreach that makes zero sense.…

FinCEN clarifies rules for virtual currencies In March 2013, FinCEN laid down the law on virtual currencies. They made it clear that we’re all money transmitters now.

Australia court and Silk Road Jan 2013, an Australian court mentioned Bitcoin as payment for drugs from Silk Road. Just shows how it’s intertwined with shady stuff.

Search warrant for Bitcoin wallet Sept 2012, US Secret Service got a warrant to seize a Bitcoin wallet while investigating a different case. Wild times.

ECB on virtual currencies In Oct 2012, the European Central Bank did a deep get into Bitcoin. They covered a lot of ground; 55 pages of insights!

Italy’s secret police report In Oct 2012, they released a report on Bitcoin. They’re not too happy about how it slips through their control. Classic.

Finland’s Bank of Finland stance Päivi Heikkinen of Bank of Finland in Sept 2012 said Bitcoin isn’t illegal. People can use whatever money they want. Love that attitude!

Germany’s BaFin on Bitcoin Oct 2012, they ruled that businesses holding Bitcoin need a banking license. That's a big deal.

BitFloor gets hacked Sept 2012, BitFloor reported a hack that stole 24,000 BTC. They filed complaints with FBI. Rekt!

New Hampshire says yes to Bitcoin donations In Aug 2012, they figured out Bitcoin can be used for campaign donations, as long as donor info is provided.

Brian Cartmell vs Bitcoinica So there’s a suit from Aug 2012 in California trying to recover losses from Bitcoinica. Big bucks involved.

Ron Paul on Bitcoin In Aug 2012, Ron Paul's subcommittee had a meeting about sound money. Bitcoin was brought up in relation to barter. Makes sense.

Norway’s Financial Supervisory Authority In March 2012, they released a report on risks and mentioned Bitcoin as a shady business. Kind of harsh, no?