[GNC] Bitcoin is legal currency in El Salvador - why not

[Kalpesh Patel]

Why not to set this up as a true currency in GNC, instead of Stock or Mutual
Fund?

 

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Message: 8

Date: Tue, 7 Dec 2021 12:42:21 +0000

From: Eric Coates <TwistedWood at talktalk.net
<mailto:TwistedWood at talktalk.net> >

To: gnucash-user at gnucash.org <mailto:gnucash-user at gnucash.org> 

Subject: Re: [GNC] Bitcoin is legal currency in El Salvador - why not

                add BTC?

Message-ID: <6bc32ed3-ac6b-5924-1990-f852c6829d1e at talktalk.net
<mailto:6bc32ed3-ac6b-5924-1990-f852c6829d1e at talktalk.net> >

Content-Type: text/plain; charset=utf-8; format=flowed

 

Hi

 

To (slightly) misquote John Ralls

"Bitcoin is neither a major nor a minor currency. It's not a currency at
all:...[it is]? a speculation vehicle, not a currency."

but as shares are also "speculation vehicles" a possibility arises.

 

Starting from Dustin Henning's comment, some trivial experimentation shows
that it is possible to set up a Bitcoin account in GnuCash by classifying it
as a Stock (although Mutual Fund may be more appropriate as, I understand,
fractional parts of Bitcoin are possible) and setting up Bitcoin as a
security. And (somewhat to my surprise) it is possible to get on-line quotes
by specifying the Symbol/abbreviation as BTC-GBP and using Yahoo as JSON as
the source in the Single source drop-down. 

(BTC -USD is also available, others may be - I haven't checked).

 

So (probably after some experimentation) Bitcoin can already be handled
within GnuCash!

 

"They knew not how well they built"

 

Take care

 

Eric