Topic: NYSE declares bitcoin "emerging ASSET CLASS" - page 2. (Read 1874 times)
I think this is borderline good news, but the core problem will be that in the US, you'll still have to treat every transaction as a taxable event and record either gains or losses.
This kind of asset is very different than traditional asset, governments and banks have almost no control of its location and flow, a Swiss bank in cyberspace
When we are talking about assets, we are talking about cash equivalents where we can convert and liquidate it as and when we need it but however in bitcoin, we are already referring to a currency which we can use to purchase and trade for items. Eventually it all depends on how we look at it and in time, I think it would be clearer to define as adoption rate goes up.
I don't care what they classify it, as long as you don't have to pay VAT for every damn transaction you made.
I think for now BTC is more in the asset class than expenditure class although now big spenders in bitcoin are even buying other assets like houses and apartments and luxury goods..especially those that made a killing from it like the early miners and adopters.
asset class suits more to the meaning of what bitcoin could be really, classified into something, but if everyone begin to see it as a different thing, it may bring some confusion
i like how they will expand their index to others exchange, from the news you can also snatch that they are building the infrastructure for bitcoin and not investing in bitcoin itself
this is why the price has not yet lifted
i like how they will expand their index to others exchange, from the news you can also snatch that they are building the infrastructure for bitcoin and not investing in bitcoin itself
this is why the price has not yet lifted
As Gavin mentioned on the interview on 5/19/15 you can't pigeon hole bitcoin into a single category that we are already familiar with like an asset class or a currency.
Gavin Andresen isn't a "Wall Street fatcat" (as the derogatory colloquialism goes): he doesn't move - let alone make - markets.
Hrmm is this going to lead to the whole tracking every time your spend or receive for tax purposes? Selling an asset is different than using a currency but bitcoin is different. As Gavin mentioned on the interview on 5/19/15 you can't pigeon hole bitcoin into a single category that we are already familiar with like an asset class or a currency. Bitcoin is completely different than we have ever seen before so it should be it's own class/category. What? We don't really know yet.
If your "big money" asserts that bitcoin (and, perhaps, by extension, all cryptographic currencies) is an asset, it'll be as much a money as gold and silver (currently) are.
http://www.coindesk.com/new-york-stock-exchange-launches-bitcoin-price-index/
Is it a currency? Is it an asset class? The NYSE sees it as an asset class. Interesting news, not to mention that they NYSE is establishing a ticker to track the BTC/USD price. There's some big money being put into bitcoin, like serious big money from very reputable people in finance.
This is about to get exciting...
Is it a currency? Is it an asset class? The NYSE sees it as an asset class. Interesting news, not to mention that they NYSE is establishing a ticker to track the BTC/USD price. There's some big money being put into bitcoin, like serious big money from very reputable people in finance.
This is about to get exciting...
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