Topic: Bitcoins UK future looks bleak - page 2. (Read 5863 times)

Hopefully this will become a relevant question to quite a few people in the next few years. I have heard that Germany does not tax (CGT) bitcoins if they are held for over a year. Perhaps they could become resident there before cashin out.

Yeah...Do you realize that coinfloor is a scam? Do you know who is actually creator of coinfloor.
Just check this forum and stay away from them.

There is also Coinfloor trying to get off the ground in the UK.

Hopefully they can navigate all the roadblocks.

What would be the process/taxes involved in cashing out a large some of BTC to sterling?

That is definitely true!   

I can imagine the UK press saying that it is like the euro by the back door!  Save the pound!

Great article, food for thought. It used to be a lot easier to buy/sell BTC in the UK than it is now, I can understand how hard it would be to set up a viable BTC-based business. Pretty cool that the author got a reply from Vince Cable though!

Reading the article, I would say the future of UK banks looks bleak 

Thanks for a great article.
The UK is a backward place for Bitcoin now. But this really points out the importance of decentralised exchange through an agreed API/surface across coins and currencies.

Honourable mention for bitbargain UK.

Let's not forget that any remittance service connecting to Bitcoin has been shutdown - Transferwise and Currencyfair.
Also this article is pointing out Freedom of Information request refusals from all parties requested - this is also suspicious to my mind.
Finally there is the aspect that Bitcoin can be less anonymous than banking in some cases and the FBI have used this to advantage.

This is shades of capital controls. While it is true that no one single action can prove conclusively that it is not simply concern for money laundering I have seen enough in other areas such as hedge funds, forex, gold, latvia to see that things are in place for the locks to come down should they need to ready for a Cyprus bank holiday.

Although VAT is unfortunate and unfair, it's a well trodden path.

The blockade was a great motivation for me to move financially away from the UK. I could be thanking that action if (when?) the worst fears come to fruition.

At the end of the day, try to take the global view. People from China to Brazil are getting in on the revolution, that isn't going to change. If London is left behind it's really just one city in many, one increasingly less significant city. The once great London now begging to host Chinas currency yet there's no bitcoin exchange...

Stay on the sidelines and places such as China who don't have to worry so much about capital flight, take over.

It's just getting interesting!

https://www.scirra.com/blog/tom/4/bitcoins-uk-future-looks-bleak