Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 26571. (Read 26608306 times)

Bitcoin Bumps Up Lobbying Arm as SEC, CFTC, IRS Circle In
Analyst: Melissa Avstreih
July 31 (BIT)
 The Bitcoin Foundation hired two lobbyists July 1, joining Mastercard and Falcon Global Capital on the list groups lobbying lawmakers on the virtual currency. While Congress has held hearings on Bitcoin, regulators have been more active. The SEC issued a May 7 warning to investors about Bitcoin fraud and volatility, the IRS said it will tax Bitcoin profits as property not currency and the CFTC may subject Bitcoin to either commodities or foreign exchange rules.
...
Use of Bitcoin, and other virtual currencies, may rise if any pending online sales tax bill becomes law, says an independent organization of the IRS. Three bills have been introduced in Congress to allow states to collect sales tax from out-of-state vendors on purchases made by in-state residents. Bitcoin transactions, unlike credit cards, don't transmit billing or residency information, which may allow purchasers to avoid paying sales tax to their home state.
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 Bitcoin advocates filed forms with the Federal Election Commission to form a super PAC, allowing the group to raise and spend an unlimited amount of money to support or oppose candidates. The super PAC said in a Jan. 6 press release it will "support initiatives that advance the bitcoin economy." Bitcoin, the subject of several congressional hearings, may grow into an alternative payment network, potentially disrupting traditional payment systems.


Bitcoin Turns Digital Gold as Faith in Dong Ebbs: Southeast Asia
By John Boudreau and Mai Ngoc Chau
July 31 (Bloomberg) -- Bui Huy Kien is ignoring the Vietnamese government’s warnings and accepting payment in bitcoin for advertisements on his website.
“I don’t really trust the dong because of the way the Vietnamese currency is managed,” Kien, the founder of lamchame.com, a portal for young parents, said in a July 23 phone interview. “It’s not transparent. Gradual distrust in the dong motivates people to use bitcoin.”
...
Dong, Bitcoin
The dong has slipped 0.6 percent this year to 21,230 per dollar, while currencies of Indonesia, Malaysia, Thailand, the Philippines and Singapore have strengthened, data compiled by Bloomberg show.
Bitcoin has surged from $13.28 at the start of 2013 to $574.66 as of 5 p.m. local time yesterday. The virtual currency reached a high of $1,147 in December and plunged in the first quarter of this year following the collapse of Mt. Gox, once the world’s largest bitcoin exchange.
Dwindling faith in the dong along with the growing popularity of smartphones and electronic commerce will help bitcoin gain acceptance in Vietnam, according to Kien, the founder of the parenting website....
“Bitcoin could play a big role in Vietnam,” Le Thao, the founder of a startup in Hanoi to create software for virtual-currency touchscreen kiosks, said in a July 21 interview. “It’s unstoppable in the world. So Vietnam has no choice but to accept it.”

Bitcoin Tax-Free Transactions Face Test at EU’s Highest Court
By Aoife White
July 30 (Bloomberg) -- Tax-free trading of bitcoin faces a legal test at the European Union’s top court after Swedish authorities sought to extend existing levies to virtual currencies.
The EU Court of Justice must decide if transactions between virtual and traditional currencies can be classed as a service under EU value-added tax rules, and if so, whether such trades are tax-exempt, according to a court filing.
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“Nothing specific is arranged for bitcoins or virtual currency” in EU tax rules that stem from 1993, said Rogier Vanhorick, a tax adviser at Deloitte in Rotterdam. “We’re constantly seeing a lot of these new concepts and the ECJ is having to give an explanation for this dinosaur-type of legislation.”
The Luxembourg-based tribunal is examining a dispute between Sweden’s tax agency and David Hedqvist, who wanted to start selling bitcoins on his website. Sweden’s tax authorities are challenging an earlier Swedish court ruling that said VAT shouldn’t be charged on bitcoin trades.

Bitcoin Is Barely Regulated — And These Congressmen Want to Keep It That Way
By Rebecca Robbins
July 30 (Washington Post) -- Many technophiles and libertarians already love Bitcoin. If three bitcoin-friendly congressmen have their way, federal lawmakers could, too.
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"It's a good thing we haven't seen Washington standing in the way of digital currencies, and we need to raise the awareness level here so that we don't pass any well-intended laws that impede the tremendous benefits that [the currencies can bring]," Rep. Jared Polis (D-Colo.) said in an interview at the evening tabling event.
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Now, amid a regulatory challenge from New York state this month, the three bitcoin-friendly congressmen who hosted Tuesday's events are hoping lawmakers keep up their light regulatory touch.
"My interest in it is to just try and make sure that government doesn't act too soon in such a fashion that curbs the potential for Bitcoin," Rep. Mick Mulvaney (R-S.C.) said. "Because I see potential for bitcoin as a medium of trade and as a transactional tool, and I'd hate to see the government make decisions early that sort of retard its growth."

Part of the federal government's regulatory inaction so far, some suggested, can be attributed to lawmakers' lack of knowledge about the currency — inaction that the currency's backers hope to encourage with further education.
"I think a lot of my colleagues know that it exists, and don't know much more than that," Rep. Bob Goodlatte (R-Va.) said. Goodlatte said he had personally recently bought some bitcoins and is "just starting to utilize them."
With the federal government quiet so far, the private sector has increasingly moved to embrace the cryptocurrency. Travel-booking company Expedia, which sent a representative to Tuesday night's tabling event on the Hill, said last month that it would begin accepting bitcoins for U.S. hotel reservations.

Start-up businesses surrounding the industry have also proliferated. Several of them — payment service provider BitPay, security platform BitGo, and service provider Coinbase — sent representatives to the event.


Tokyo Police Formally Investigate Missing Bitcoin
by Takashi Mochizuki
July 30 (Wall Street Journal) -- The Tokyo Metropolitan Police Department said Wednesday that it has launched a formal investigation into the disappearance of bitcoins from defunct exchange Mt. Gox....

“We decided to launch an investigation as we concluded this case could be connected to criminal activity,” a spokesman for the police department said.
 
The police say they suspect 27,000 bitcoins were withdrawn through illegal computer access.

Apple Warms to Bitcoin as Popular Wallet Returns to App Store
By Carter Dougherty
July 28 (Bloomberg) -- Apple Inc. has reinstated the Blockchain bitcoin wallet application to its App Store almost six months after booting the popular program....

Just passing by to say 14-day RSI is at rock bottom again. It's a strong buy signal so lock and load and prepare for green candles.

imaginary lines broken, nerves fried, fiat scared shitless, hodlers become dumpers, spectacular!

when the price falls

we remain!

when everyone looks for the exit

we remain!

No it's not. The bullish scenario hasn't been invalidated yet. What are you going to say if
this is capitulation and the price drops below 300$. What's worse than torture?

I would never give them a  donation in BTC. Why should I if they dump it on Coinbase? If want to dump BTC I make it myself....

OK, I couldn't resist this one.

He calls himself "smart money", yet he's a hero member around since April 08, 2013, 03:13:50 PM, and he had 2 BTC.


Yeeaaaah, that's some reaaall SMART MONEY folks.

Wikipedia now accepts bitcoin:

http://www.coindesk.com/wikipedia-now-accepts-bitcoin-donations/

Get ready for dump.

From where comes this obsession to think that fonzie has anything to do with fonsie, if you meet someone called Filip and an hour later someone called Philippe, they must be the same person.... hate to spoil it for you, but they probably are not.

It's even questionable if he should be refering to it in plural... He should probably mention how many bits he has or whatever.

Do fonsie and fonzie share any DNA?  

Are they from the same egg or different eggs?

What medicine turns one into the other?  and back?

If you'd bother to actually read the article, you'd see that it's precisely arbitrage that is a major factor why a system consisting of unbanked ATMs would be a superior pricing mechanism.

Wussy. And this with 2 coins.

Shroom speaks the truth. It's a hard reality that many don't want to accept, but somebody has to say it.

What the fuck are you talking about???

In 2009 it was valued at 0$, today 573.31$

haaaaaa^those shrooms MUST be good! LOL  

That was meant to be you anyway...   

Perhaps he should arange a meeting with @shroomskit in his parents basement, so that he can be educated by a kid on why bitcoin is doomed.

There are already several funds and all i see is the price going down. You will be very dissapointed.

What a fucking attention whore... .Get the fuck out of here if you are NOT invested.  We DONT need anymore meaningless posts from people who are NOT invested. Good bye, Shroomie.