Light at the end of the tunnel! Germanys gov. accepts Bitcoin as private currency in a way that stocks are. As opposed to stock-trade though, profit from Bitcoins is declared as taxfree when a year has passed since the purchase.
This comes at wonderful time as the debate has not yet passed the US senate which i was fearful of as American politics consist of lobby-work only. The declaration of Europe's financial leader to accept Bitcoin as a legal tender will surely not go down well in Washington.
Let's hope that the weight of the recent investors from the US is enough to allow the currency to become accepted. Surely the NSA knows by now the holders of enough Bitcoin addresses to feel safe swimming in these waters.
(original article source)
All the best, and see you soon forum!
Tim
Sunday, August 18, 2013
Saturday, August 17, 2013
Attacker detected on coin-inc.com
Today we caught a visitor attempting to inject code and retrieve passwords from our server.
The attack has been identified with the origin IP of 37.49.227.111
No user data is compromised as the relevant systems have not been connected yet.
In fact this has helped us to spot a loophole which was thought to be closed.
Logging mechanisms have been updated to supply further information on injection attempts and we like to apologize for the downtime of the collection tool today.
More news on the casino and the coming expansions of coin-inc.com soon!
Thank you and see you soon forum.
Tim
The attack has been identified with the origin IP of 37.49.227.111
No user data is compromised as the relevant systems have not been connected yet.
In fact this has helped us to spot a loophole which was thought to be closed.
Logging mechanisms have been updated to supply further information on injection attempts and we like to apologize for the downtime of the collection tool today.
More news on the casino and the coming expansions of coin-inc.com soon!
Thank you and see you soon forum.
Tim
Thursday, August 8, 2013
US Federal Judge recognises Bitcoin as currency
A US federal judge has found Bitcoin to be "a kind of currency". The fact that you can indeed exchange it for other currency seemed to convince the judge. Find a subscript of the district courts ruling here.
The original article offers the explantion that it enables US law enforcement to continue the case against Trendon Shavers aka "pirateat40" who was accused to have run a Bitcoin investment snowball system in which the "returns" to former investors are comprised of the deposits of new investors. The defendant is said to have acquired 700.000 Bitcoin this way with a promised return of about 7%.
The defense argument was the invalidity of Bitcoin as real currency, hence no money flow. The judge though deemed the acceptance rate and usability of Bitcoin as sufficient enough to serve as money or money substitute.
Back in march other rulings already decided that Bitcoin is subject to the money laundering laws in the States and supporters of Bitcoin hope the current case will instill further trust in the digital currency. (article source)
I will keep you updated on further happenings!
Happy day and see you soon.
Tim
The original article offers the explantion that it enables US law enforcement to continue the case against Trendon Shavers aka "pirateat40" who was accused to have run a Bitcoin investment snowball system in which the "returns" to former investors are comprised of the deposits of new investors. The defendant is said to have acquired 700.000 Bitcoin this way with a promised return of about 7%.
The defense argument was the invalidity of Bitcoin as real currency, hence no money flow. The judge though deemed the acceptance rate and usability of Bitcoin as sufficient enough to serve as money or money substitute.
Back in march other rulings already decided that Bitcoin is subject to the money laundering laws in the States and supporters of Bitcoin hope the current case will instill further trust in the digital currency. (article source)
I will keep you updated on further happenings!
Happy day and see you soon.
Tim
Tuesday, August 6, 2013
A little setback, though at least Mt.Gox updates
Hi forum! i'm sad to say the shipment of miners i was expecting didn't come through as the reseller was not able to provide the product or sufficient proof of purchase at the agreed date. A little sad but it may proof as starting point with our involvement into a new Bitcoin start-up.
A good thing to see though is the update on mt.gox - apparently they are now self-hosting and present on a large number of servers world-wide, which was in likelihood a response to the system buckling in under the amount of users in the past.
The new transaction system they employ is called Midas and is supposed to handle up to half a million transactions per second. A redesigned user interface is supposed to ease the usage of the exchange.
Money retrievals and deposits may still take up to a week though and is due to Mt.Gox a problem which persists with their current partner bank. The exchange is in the process of acquiring new partners according to their statements. (article source)
When considering the current market situation the exchange could also aim to deal with the negative press it accumulated during it's neigh monopoly during the past years. Charts indicate the eighty percent of market volume Mt.Gox is advertising with are a thing of the past. At the time of writing there were an indicated 47% of market volume traded over Gox.
All in all the whole market shows a promising stable trend with a current price of about a 105 $US to the Bitcon and we are confident about a positive future development.
As always; thank you for your attention and see you soon forum!
Tim
A good thing to see though is the update on mt.gox - apparently they are now self-hosting and present on a large number of servers world-wide, which was in likelihood a response to the system buckling in under the amount of users in the past.
The new transaction system they employ is called Midas and is supposed to handle up to half a million transactions per second. A redesigned user interface is supposed to ease the usage of the exchange.
Money retrievals and deposits may still take up to a week though and is due to Mt.Gox a problem which persists with their current partner bank. The exchange is in the process of acquiring new partners according to their statements. (article source)
When considering the current market situation the exchange could also aim to deal with the negative press it accumulated during it's neigh monopoly during the past years. Charts indicate the eighty percent of market volume Mt.Gox is advertising with are a thing of the past. At the time of writing there were an indicated 47% of market volume traded over Gox.
All in all the whole market shows a promising stable trend with a current price of about a 105 $US to the Bitcon and we are confident about a positive future development.
As always; thank you for your attention and see you soon forum!
Tim
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