Working for Bitcoin: Update (opens in new tab)

(ncarlson.com)

25 pointsncarlson15y ago16 comments

16 comments

10 comments · 4 top-level

jarin15y ago· 3 in thread

It would be kind of a cool experiment to try to get everything past the first $5000 in client work (or whatever covers living expenses, taxes, savings, and beers in your area) per month paid in Bitcoin.

There needs to be a really easy way to do it though for clients who don't understand the concept, maybe some kind of service where a client can pay with credit card and it converts to Bitcoin and sends it to the recipient's account.

Maybe an alternative would be to just make a policy to buy Bitcoin with whatever you get over your quota each month.

ncarlsonOP15y ago

I think what's needed most at the moment is an easy way for US dollars to be exchanged for Bitcoin. This was easy enough when Mt Gox was accepting Paypal.

However, now that Paypal has suspended Mt Gox's account, anyone wanting to work with that exchange now has to jump through additional hoops by opening up a Dwolla or Liberty Reserve account. Personally, I found these sites to be rather shady looking.

sgornick15y ago

Dwolla looks shady? Seriously? http://www.dwolla.com

Incidentally, they are FDIC and NCUA insured: http://www.dwolla.org/help/dwolla-deposits-are-protected-by-...

2 more replies

jarin15y ago

I haven't checked out Liberty Reserve, but I have a Dwolla account and it is pretty non-shady.

meric15y ago· 2 in thread

A few weeks ago 1 bitcoin was only 0.8 US dollar. Now it's 8.

My 0.05 BTC is now worth 0.4.

Should've gotten more.

waterlesscloud15y ago

It's down to 6.5 now in the last couple of hours. Very little volume was required to drive it down so much (10s of thousands of USD). BTC isn't even vaguely stable, in either direction.

getsat15y ago

I gave away my last 10 BTC a month ago on HN. Oh, well.

I'm going to wait until BTC is proven to be government-proof before getting back into it, if ever.

joe_the_user15y ago· 1 in thread

If this becomes common, it will certainly be a test of bitcoin's legal status. Seeing how the IRS and Social Security calculate what taxes, if any, you have to pay will be interesting...

jared31415y ago

There is a good chance it would be treated as another foreign currency. So, you would file in USD using a current conversion rate.

http://www.irs.gov/businesses/small/article/0,,id=130524,00....

tectonic15y ago

What's the best way to exchange my bitcoins for USD?

j / k navigate · click thread line to collapse