In this example.... newegg accepts different forms of payment. So what form of payment would this business use to buy the merchandise? Would it be a corporate or business credit card?
And when that company goes to pay their taxes...... They pay taxes on their profit right? The fee for the service they charge?
Topic: What legally prevents a business forming that lets you buy anything with bitcoin - page 2. (Read 3112 times)
February 15, 2013, 08:37:05 PM
February 15, 2013, 08:26:20 PM
Maybe I should rephrase my question and give an example
Suppose someone has bitcoins. They want to buy a computer part from newegg. Newegg doesn't accept bitcoins as a payment. In comes this "business" . They accept your bitcoins and in return they will buy the computer part with their money... and since they were paid in bitcoins then they can simply exchange those bitcoins into money and make some small profit based on whatever fee they charge. How is that dishonest or illegal?
How is it any different than the new business that lets you order pizza with bitcoins?
the question is what legal hurdles are there? Not what is honest or dishonest since I wouldn't consider such a service dishonest.....
Suppose someone has bitcoins. They want to buy a computer part from newegg. Newegg doesn't accept bitcoins as a payment. In comes this "business" . They accept your bitcoins and in return they will buy the computer part with their money... and since they were paid in bitcoins then they can simply exchange those bitcoins into money and make some small profit based on whatever fee they charge. How is that dishonest or illegal?
How is it any different than the new business that lets you order pizza with bitcoins?
the question is what legal hurdles are there? Not what is honest or dishonest since I wouldn't consider such a service dishonest.....
There are no legal hurdles you can do it no problem just pay your taxes.
February 15, 2013, 08:23:46 PM
Maybe I should rephrase my question and give an example
Suppose someone has bitcoins. They want to buy a computer part from newegg. Newegg doesn't accept bitcoins as a payment. In comes this "business" . They accept your bitcoins and in return they will buy the computer part with their money... and since they were paid in bitcoins then they can simply exchange those bitcoins into money and make some small profit based on whatever fee they charge. How is that dishonest or illegal?
How is it any different than the new business that lets you order pizza with bitcoins?
the question is what legal hurdles are there? Not what is honest or dishonest since I wouldn't consider such a service dishonest.....
Suppose someone has bitcoins. They want to buy a computer part from newegg. Newegg doesn't accept bitcoins as a payment. In comes this "business" . They accept your bitcoins and in return they will buy the computer part with their money... and since they were paid in bitcoins then they can simply exchange those bitcoins into money and make some small profit based on whatever fee they charge. How is that dishonest or illegal?
How is it any different than the new business that lets you order pizza with bitcoins?
the question is what legal hurdles are there? Not what is honest or dishonest since I wouldn't consider such a service dishonest.....
February 15, 2013, 06:45:13 PM
The biggest legal hurdle is the idea that you have to be a business legally in order to do legitimate & honest business. Divest yourself of this modern corporate fiction & mind your manners and you should do fine.
February 15, 2013, 06:41:54 PM
Say you want a business where you accept bitcoins... and the business itself buys some item and sends it to the person who bought with bitcoins. What legal hurdles are there?
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