Bitcoin - online fad or the future?

This is a discussion on Bitcoin - online fad or the future? within the Cryptocurrencies forums, part of the Markets category; IG Index joined in and allows to place binary bets on the last price at https://mtgox.com/ I am wondering how ...

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Old Apr 16, 2013, 9:36am   #17
6am
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Re: Bitcoin - online fad or the future?

IG Index joined in and allows to place binary bets on the last price at https://mtgox.com/

I am wondering how easy is to manipulate the market. One could take a huge position at IG Index and then try to move the price at mtgox. The size of the market at mtgox is relatively small.
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Old Apr 16, 2013, 9:39am   #18
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Re: Bitcoin - online fad or the future?

Quote:
Originally Posted by Hoggums View Post
If you make a profit using bit-coins - do you have to pay tax?
and can you pay it in bit-coins ?

N
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Old Apr 16, 2013, 9:45am   #19
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Re: Bitcoin - online fad or the future?

Quote:
Originally Posted by 6am View Post
IG Index joined in and allows to place binary bets on the last price at https://mtgox.com/

I am wondering how easy is to manipulate the market. One could take a huge position at IG Index and then try to move the price at mtgox. The size of the market at mtgox is relatively small.
Interesting , daily binaries or monthly ?

Just noticed it already took a big hit !
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Old Apr 16, 2013, 9:47am   #20
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Re: Bitcoin - online fad or the future?

Quote:
Originally Posted by Hoggums View Post
If you make a profit using bit-coins - do you have to pay tax?
As they are currently not and are unlikely ever to be recognised as currency from a regulatory viewpoint, no tax is payable on profit through indirect appreciation.
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Old Apr 16, 2013, 9:49am   #21
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Re: Bitcoin - online fad or the future?

Interesting piece in last week's Economist on them. Should be of interest to new_trader as with a fixed circulation of 21 million, they get as close to a genuine gold standard as anything.
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Old Apr 16, 2013, 10:23am   #22
 
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Re: Bitcoin - online fad or the future?

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Originally Posted by Purple Brain View Post
As they are currently not and are unlikely ever to be recognised as currency from a regulatory viewpoint, no tax is payable on profit through indirect appreciation.
So IG takes bets in real money trading a currency that doesn't exist -tulipmania?
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Old Apr 16, 2013, 11:22am   #23
 
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Re: Bitcoin - online fad or the future?

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Originally Posted by NVP View Post
and can you pay it in bit-coins ?

N
only if you get stuck and have to pay, ya know, bit-by-bit

they write themselves....comedy-gold better than comedy-bit
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Old Apr 16, 2013, 11:26am   #24
 
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Re: Bitcoin - online fad or the future?

wot? no one got any decent puns? bit too close to the bone?

bit silly, bit beyond belief, bit on the nose ?

bit me!
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