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

[davidcousens49 at gmail.com]

Kalpesh

Another thing to be wary of. The scammers love bitcoin no regulation no protections: https://www.abc.net.au/news/2021-12-08/cryptocurrency-scams-targeting-australians-losing-millions/100678848
David

On Tue, 2021-12-07 at 14:19 -0500, Kalpesh Patel wrote:
> 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
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> Hi
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> 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.
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> 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).
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> So (probably after some experimentation) Bitcoin can already be handled
> within GnuCash!
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> "They knew not how well they built"
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> Take care
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> Eric
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