money

Welcome To Coincanna

"With crypto currency like Bitcoin & Litecoin, a grower can sell his or her strains and concentrates to a dispensary using Bitcoin or Litecoin, removing the large amounts of cash on site at the dispensary as well as the growers money is now safe on the blockchain, before they even leave the site of the trade. So this way no law enforcement encounter nor thief can take away the money involved with the grower or dispensaries trades. In the same way the dispensary can now accept Bitcoin & Litecoin from their patients for their medicine, removing the large amounts of cash from the site of the dispensary." Continue reading →

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Bitcoin: A Primer for Policymakers

"A new Mercatus Center at George Mason University study addresses many of the common misconceptions about Bitcoin and describes how the digital currency works. The study also analyzes current laws and regulations that may already cover digital currencies and warns against preemptively placing regulatory restrictions on Bitcoin that could stifle this new technology before it has a chance to grow. In addition, the paper gives policymakers several recommendations on how to treat Bitcoin going forward in a way that helps the free market and provides clarity for law enforcement." Continue reading →

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Germany recognizes Bitcoin as a “private money,” subject to capital gains tax

"In response to a query by a member of parliament, the German Finance Ministry has declared that it accepts bitcoins as a 'unit of account.' The Ministry added that bitcoins are a sort of 'private money' and that mining bitcoins constitutes 'private money creation.' The Ministry also clarified that if a German taxpayer holds bitcoins for more than a year, then she is exempt from paying the 25 percent capital gains tax. Such a tax would ordinarily be paid after profiting from the sale of a stock, bond, or other security. A taxpayer would be expected to declare them as part of her assets and income as part of her annual tax return." Continue reading →

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Bitcoin Bites: Germany recognizes digital currency as ‘private money’

"Bitcoin is slowly joining the big league of currencies. Germany has become the first country to accept the digital money - recognized in law and for tax purposes. Katie Pilbeam from RT's Venture Capital program explains." Continue reading →

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Living on Bitcoin is a real challenge for newlywed couple

"Groceries at home have not been too much of a problem, since one of the first merchants they convinced to accept bitcoins was a local community-supported agriculture operation,La Nay Ferme. They’ve even ordered fertilized chicken eggs using bitcoins, in the hopes of producing some of their own food. And they just announced a special trial run of bitcoin payment with a large grocery store. But on the road, they may have to resort to brown-bagging it between bitcoin-friendly restaurants. Buying gas will probably be the biggest challenge on the road, since it has been tough at home." Continue reading →

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India’s Worst Economic Crisis Since 1991 When It Had To Airlift 67 Tons Of Its Gold

"At the time, the country had secured a $2.2bn loan, backed by 67 tons of gold reserves. To satisfy the IMF's concerns about access to the collateral, the RBI had to airlift 47 tons of gold to be deposited offshore with the Bank of England and 20 tons of gold with UBS. While such action is unlikely this time around, if the crisis continues to escalate, Asia's third largest economy will struggle to grow. Even though economists still do not expect a contraction, it is now a real possibility. Some weakening of the rupee may have been desirable for exporters, but losing control of the exchange rate was not what the RBI had in mind." Continue reading →

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Gold Investors Seek Alpine Haven in Swiss Army Bunkers

"At Pro Aurum, movement and vibration detectors add protection to the former Zuercher Kantonalbank branch in Kilchberg, a lakeside suburb of Zurich. Cameras hang from the ceiling to film employees as they fulfill orders from customers who can store valuables in one of the 700 safe deposit boxes or buy up to 100,000 francs ($107,000) of gold with cash over the counter without proof of funds such as a bank statement. About half of Buchwalder’s customers are Swiss, with Europeans making up most of the remaining clients. Pro Aurum, which also has units in Austria and Germany, trades 'over a billion francs' of gold per year." Continue reading →

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Bitcoin ATM Machines Receive Full Funding Hours After Campaign Launches

"Startup Lamassu Bitcoin Ventures has managed to fund its initial production run of 15 Bitcoin ATM units just hours after pre-orders were announced. The company’s new Bitcoin ATMs promise to take your cold hard cash and instantly added your money to a bitcoin wallet. The new ATM machines were paid for mostly with the use of Bitcoins. Based on the cost of each machine the company has raised $60,000-$75,000 in sales revenue after only a few short hours. While Bitcoin value has drastically increased over the last year the company is hoping to introduce the digital currency to “non-geeks” who may find entry into the payment a bit confusing." Continue reading →

Continue ReadingBitcoin ATM Machines Receive Full Funding Hours After Campaign Launches