Many Are Mulling Over the Idea of Retiring on Bitcoin
Bitcoin has surpassed the value of gold for the first time. In parallel, Bitcoin’s deflationary properties are becoming more relevant as the specter of inflation starts lurking again in the U.S. and the Euro area. As a result, for many, the thought of investing their retirement savings in bitcoins is starting to gain traction. Planning to Retire on....
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Israeli business newspaper Globes is reporting that the Israeli government is mulling the possibility of imposing a tax on profits from Bitcoin. The article states that the Israel Tax Authority is considering the move based on the idea that anyone who makes profits from Bitcoin owes taxes. It was unclear how exactly a tax on Bitcoin profits would be levied, though, as Israel has yet to even recognize Bitcoin as an official currency. Israeli Bitcoin exchange Bits of Gold’s CEO, Jonathan Rouach, suggests the tax authority is not prepared for the necessary paradigm shift to even know where to....
The Israeli government is considering taxing profits on bitcoin, said an Israeli paper this week. Business paper Globes reported that the Israel Tax Authority is mulling the prospect, believing that people who make profits from bitcoin owe taxes. "We cannot ignore this phenomenon which one way or another involves financial transactions and therefore we are examining its importance," an Israel Tax Authority source was quoted as saying. But a model for taxing profits was unclear, given that the country has not yet recognized bitcoin as an official currency, said Globes. Jonathan Rouach, CEO....
In May, Google announced to its merchant partners that it would be retiring Checkout. Google Checkout was designed as a platform for online payments, but as a competitor to PayPal it wasn't getting enough traction. The company's plan is to merge Checkout into Google Wallet. The idea always has been for Wallet to be - via Android - a replacement, well, for your physical wallet. The problem is that Google is having issues getting people to actually use Wallet. BusinessWeek recently ran a story about the fact that Wallet is losing money for the company. According to the article, the fees....