Bitcoin

[Les]

On 12/21/2012 11:44 AM, Frank H. Ellenberger wrote:
> Am 20.12.2012 19:31, schrieb Andrew Skretvedt:
>> I wonder about what you might do as a substitute if
>> you operated a business transacting primarily in bitcoin.
> If there is a business, there is usually also a tax authorithy, which
> expects the tax declaration in their national currency, so finally there
> is a ISO based currency in which your reports are expected.
>
> HTH
> Frank
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One of its exchanges, Bitcoin-Central, has received approval from
France's government
<https://bitcointalk.org/index.php?topic=129461.0> to operate as a
payment service provider there, PayPal-style. With that relationship
comes some insurance protection that should help get people trusting
Bitcoin again. Before now, when things like $250,000 heists
<http://www.theatlanticwire.com/technology/2012/09/bitcoin-heist-and-upside-government-regulation/56517/>
went down, these exchanges didn't have any government back-up to pay
back users' stolen funds. As a PSP, the money stored with
Bitcoin-Central will get backed by the same European compensation laws
<http://www.bbc.co.uk/news/technology-20641465> as money held in normal
banks.~The Atlantic Wire 12/7/2012