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overtheedge
Member since May 2012
680 commentaries - 6 followers

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Germany recognizes Bitcoin as 'private money' - Charleston Voice -

"The classification means that some commercial profits on Bitcoin related endeavors may be taxable, but personal use of the currency will remain tax-free, the paper reported."
Personal use? If you buy anything, the other party has income subject to income tax.

"However, the decision opened up the possibility for the virtual money to be regulated by governments, ..."
Possibility? No, no, no. It will be regulated and taxed.

"Supporters of the virtual currency argue that it helps protect the identities of users from theft and credit card fraud."
I seem to remember the original argument was about anonymity. It was that anonymity that protected the users from theft and fraud. It didn't stop Trendon Shavers from committing fraud did it?

Wow, substitute one fiat monetary system for another and suggest the problems are fixed.
Please, by all means, help yourself to the blue pills. Take a hand-full; share them with your friends and family.

Commented 4103 days ago

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Beginning of the headline :Edited time: August 19, 2013 11:37 Bitcoin has been recognized for legal and tax purposes in Germany, making it the first country to take an official stance on the status of using the online currency as money. Photo by Jonathan Waller / flickr.com Berlin has acknowledged the virtual tender as a "currency unit" and "private money," according to German newspaper Die Welt. The classification means that some commercial profits on Bitcoin related endeavors may be taxable, but person... Read More

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