Cryptocurrencies

[Derek Atkins]

Hi,

For Bitcoin we suggest:

1) Use a Stock/Mutual type account with a BTC type
2) Use mBTC  (milli-BTC, or 1/1000th BTC) to get within GnuCash's
   sig-digits limits.  I.e., you'd enter in 1.000 for 0.00100000BTC

If you wish you could use the XXX currency.

GnuCash currencies are all from ISO-4217 and are not user-editable.
They are compiled in, but because it's open-source you can of course
compile in your own ;)

Even though GnuCash is working to expand the sig-digits issue, don't
expect this to change w.r.t. which currencies are built-in.

-derek

Les <lelliott5 at gmail.com> writes:

> Is anyone using Bitcoin or any of its variants in daily tranactions?  If
> so, how are you accounting for them.
>
> Guncash does not contain any symbols for any of the cryptocurrencies, in
> spite of the fact that they have grown exponentially over the last
> several years.  I have not yet "invested" in any of them, but they look
> very interesting when compared to fiat currencies.
>
> Although none are considered legal tender, there are millions of
> transactions daily and more businesses are accepting them for payment. 
> The Texas legislature, in early March, issued a joint resolution, that
> if passed, would result in a November 2017 ballet to modify the Texas
> constitution to make almost any kind of mutually agreed form of payment
> (including cryptocurrencies) legal tender in Texas.
>
> There are other issues relating to accounting for these currencies such
> as requiring 8 digits in the field length (GC only has provision for 6).
>
> It seems appropriate to start considering expanding GC to be able to
> account for transactions using cryptocurrencies.
>
>
>
>
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-- 
       Derek Atkins, SB '93 MIT EE, SM '95 MIT Media Laboratory
       Member, MIT Student Information Processing Board  (SIPB)
       URL: http://web.mit.edu/warlord/    PP-ASEL-IA     N1NWH
       warlord at MIT.EDU                        PGP key available