Selling phsyical bitcoins | Bitcointalksearch.org

DannyHamilton

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Quote from: WorldOfBitcoin on August 26, 2012, 09:15:39 PM

Do I need to pay a sales tax? report sales ext.

For your own financial health you may want to consider discussing this matter with a tax professional familiar with the tax laws in your jurisdiction. Taking tax advice on such a matter from random people willing to comment in your thread on a discussion forum seems like it might be a good way to get yourself into a bit of trouble with the tax collector.

casascius

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The Casascius 1oz 10BTC Silver Round (w/ Gold B)

Quote from: bitcoinbear on October 12, 2012, 11:28:44 AM

Quote from: WorldOfBitcoin on August 26, 2012, 10:02:19 PM

Don't want to end up a domestic terrorist like this guy http://www.fbi.gov/charlotte/press-releases/2011/defendant-convicted-of-minting-his-own-currency

He was convicted because what he made too closely resembled US currency (used the $ sign, included the name dollar, had a motto very simmilar to the US "In god we trust", simmilar size to US coins, etc). If you make a credit card/gift card sized plastic card (like a bitbill) with 1 Bitcoin clearly marked on it, they would have to work much harder to convince anybody you were conterfeiting US currency.

What ever happened to bitbills? Does anybody still have some lying around?

Last time I saw Bruce Wagner he had a whole fistful of them and seemed willing to sell them. That was in January at CES.

bitcoinbear

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Quote from: WorldOfBitcoin on August 26, 2012, 10:02:19 PM

Don't want to end up a domestic terrorist like this guy http://www.fbi.gov/charlotte/press-releases/2011/defendant-convicted-of-minting-his-own-currency

He was convicted because what he made too closely resembled US currency (used the $ sign, included the name dollar, had a motto very simmilar to the US "In god we trust", simmilar size to US coins, etc). If you make a credit card/gift card sized plastic card (like a bitbill) with 1 Bitcoin clearly marked on it, they would have to work much harder to convince anybody you were conterfeiting US currency.

What ever happened to bitbills? Does anybody still have some lying around?

WorldOfBitcoin

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Quote from: SaltySpitoon on August 26, 2012, 09:49:47 PM

This had been brought up hundreds of times before. There are Cas coins, those aren't paper, but they are physical Bitcoins with a very nice design/system. Then there were BitBills which were preloaded Bitcoins onto pieces of paper that you could use, then there were 10 offshoots of Bitbills, and there are also various Bitcoin checks.

If you are talking about Bitcoin preloaded "gift cards" like you see in 7-11, that has not been done yet, and you do not need to pay tax on them. 1. They are bitcoins, 2. they aren't real. You don't have to pay taxes on any giftcards you buy at that as well.

Cassius bitcoins are great! cool looking ext love em. But 1.60BTC for 1BTC not practical. saw other peoples paper bills ext. if you could link an legal thread on selling them that would be great.

its interesting that they don't need sales tax. Is it because its currency fixed amount? like a 50 gift card is sold for 50. What is you tried to sell a 50$ gift card for 55? When do I get into trouble "counterfitting" us currency? can I mark them 1usd 5usd 100usd ext on the bill? If one were to sell them for more then face value? Reminds me of a some one who sold silver like that. He made a lot of money but ended up in jail. How does bitcoin compare?

Don't want to end up a domestic terrorist like this guy http://www.fbi.gov/charlotte/press-releases/2011/defendant-convicted-of-minting-his-own-currency

WorldOfBitcoin

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Quote from: live627 on August 26, 2012, 09:46:36 PM

Hmm, paper coins? Wouldn't that defeat anonymity, a prime feature of bitcoin?

In order for bitcoin to get mainstream people need an easy "anonymous" way to get coins. Bittinstant is a good, but you limited to banking hours. And its a little sketch dumping money into an account that not your own and really you have to trust them to payout.

Im thinking hey I heard about bitcoin. Go to 7/11 buy 100$bitcoin card and then im online using bitcoin.

No mt gox requiring photo id dwolla hold outs ext.

SaltySpitoon

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Welcome to the SaltySpitoon, how Tough are ya?

This had been brought up hundreds of times before. There are Cas coins, those aren't paper, but they are physical Bitcoins with a very nice design/system. Then there were BitBills which were preloaded Bitcoins onto pieces of paper that you could use, then there were 10 offshoots of Bitbills, and there are also various Bitcoin checks.

If you are talking about Bitcoin preloaded "gift cards" like you see in 7-11, that has not been done yet, and you do not need to pay tax on them. 1. They are bitcoins, 2. they aren't real. You don't have to pay taxes on any giftcards you buy at that as well.

live627

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Hmm, paper coins? Wouldn't that defeat anonymity, a prime feature of bitcoin?

WorldOfBitcoin

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If some one could point me to a thread talking about this i'm sure its come up in here.

I'm looking to start selling bitcoins. Printing them up on paper throwing some cool logos on it and educating people.

Do I need to pay a sales tax? report sales ext.

what would it take to sell bitcoin cards right next to the prepaid credit cards at a 7/11?

Topic: Selling phsyical bitcoins (Read 1833 times)