X-Git-Url: http://pere.pagekite.me/gitweb/homepage.git/blobdiff_plain/661f085ce9ca1ab6c06c95cabe97fd594ccd7ef9..3882048f60f47ce7edb89cc3816978cff32551f9:/blog/data/2010-12-11-bitcoin.txt diff --git a/blog/data/2010-12-11-bitcoin.txt b/blog/data/2010-12-11-bitcoin.txt index 5d4368c3d7..07910d62e3 100644 --- a/blog/data/2010-12-11-bitcoin.txt +++ b/blog/data/2010-12-11-bitcoin.txt @@ -36,7 +36,7 @@ If the Skolelinux foundation (SLX Debian Labs) were to accept donations in BitCoin in addition to normal bank transfers like EFF is doing, how should this be accounted? -Given that it is impossible to know if money can across the border or +Given that it is impossible to know if money can cross the border or not, should everything or nothing be declared? What exchange rate should be used when calculating taxes? Would receivers have to pay income tax if the foundation were to pay Skolelinux contributors in @@ -61,7 +61,7 @@ currencies.

The process of creating new BitCoins is called mining, and it is CPU intensive process that depend on a bit of luck as well (as one is competing against all the other miners currently spending CPU cycles -to see which one get the next lump of cash. The "winner" get 50 +to see which one get the next lump of cash). The "winner" get 50 BitCoin when this happen. Yesterday I came across the obvious way to join forces to increase ones changes of getting at least some coins, by coordinating the work on mining BitCoins across several machines @@ -72,3 +72,9 @@ if this sounds interesting. I have not had time to try to set up a machine to participate there yet, but have seen that running on ones own for a few days have not yield any BitCoins througth mining yet.

+ +

Update 2010-12-15: Found an interesting +criticism of bitcoin. Not quite sure how valid it is, but thought +it was interesting to read. The arguments presented seem to be +equally valid for gold, which was used as a currency for many years.