Commodity Trade Mantra

Posts Tagged ‘Bitcoins’

IRS Rules Bitcoin Is Property - Not Currency

The IRS has issued its statement clarifying th etax treatment of Bitcoins – Bitcoin and other virtual currencies are treated as property, not as a currency. Therefore, an investor who buys bitcoin would typically have a capital gain or loss when it’s sold but wouldn’t have foreign-currency gains and losses.

Perfect Scam Or A Safe Investment - My Two Bits About Bitcoin

Essentially, a cryptocurrency is a digital medium of exchange. The first one, created about four years ago, was Bitcoin. Since then, scores, if not hundreds of various permutations of the concept have been launched. Bitcoin is decentralized, with no specific institution controlling its network.

Bitcoin is Cryptographic Gold - Do You Agree?

On a conceptual level, Bitcoin has more in common with gold and silver as monetary assets than with state fiat money. The supply of gold, silver & Bitcoin, is not under the control of any issuing authority. Precisely why such assets were chosen as money for thousands of years.

Paper Gold Ain’t as Good as the Real Thing

The pool of unallocated London gold supports paper-gold trading way beyond the amount of physical gold available. This pool is drying, setting up the mother of all short squeezes. People with gold ETFs & other paper claims to gold will have to settle in cash at prices well below the physical market.

Bitcoin versus Gold: Currency versus Money

Bitcoins are currencies, not money or investments and the differences between these three concepts is crucial to doing asset management right. Sound money doesn’t have counterparty risk; its value doesn’t depend on someone else keeping a promise & so holds value over long periods of time.

What Does the Market Say - Is Bitcoin A Revolution Or A Trap?

From under $20 at the beginning of 2013 it rose to $240, crashed to below $100, and then in one dramatic arc soared to more than $1,000. The market value of Bitcoin in early 2014 exceeded $10 billion and the number of merchants willing to accept it was soaring. The market appears to have spoken.

UK Royal Mint Working On Plans To Issue Gold-Backed Physical Bitcoins

The special Bitcoin would be part of the Royal Mint’s commemorative collection and would have a gold content so that holders could conceivably melt and sell the metal if the exchange value of the currency were to collapse – An utterly incomprehensible, fusion of hard, soft and digital currencies all rolled into one.

BITCOINS - The Second Biggest Ponzi Scheme In History

Bitcoins are not illegal but also not money or even an alternative currency – Bitcoins have to have stable purchasing power if they are to serve as money: Bitcoins cannot possibly fulfill their supposed purpose: to serve as an unregulated currency unit.

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