Bitcoin just got bigger in SA

[Bern]

Unless you exchange your BitCoin for actual currency, SARS can't touch it. As long as you exchange your BitCoin for goods and services, no tax implications whatsoever. This is, for now, one of the beauts of crypto-currency.

I am not sure they will see it like that - I am sure there will be some clauses about "to the value of". As far as I am aware if you barter you still fall under tax rules. I.e. if I trade you my car for your car in the US (forget about shipping costs) there would still be tax and duties that are due although no money has changed hands.

Same applies to gifts, beyond a certain value they want their pound of flesh.

 

[Keeper]

My only problem is I have sucky internet at home and the offline wallet can take FOREVER to update.
Its also HUGE in terms of disk space...

on my mac ...

localhost:Bitcoin Gareth$ du -h
42M ./blocks/index
22G ./blocks
449M ./chainstate
22G .
localhost:Bitcoin Gareth$

Why the hell aren't you using MultiBit?

My client takes a few seconds to sync on a 2MB line, even If I only start it up once a month.

 

[riverdusty]

Why the hell aren't you using MultiBit?

My client takes a few seconds to sync on a 2MB line, even If I only start it up once a month.

Heh, I've been using the official client for many many moons. MultiBit have an OSX client?

 

[rir]

As much as we want to accept BTC, we cannot until there is clear certainty.

Over a year ago I called the Receiver of Revenue to ask how they were going to regard bitcoin, to which the reply was, "What?" as each step up the escalator I went. Eventually I was told someone would get back to me. Still waiting

 

[AlphaFemale]

Hi,

Can anyone please help me. I have some lumens in Poloniex and would like to cash them out. I have done some research and found out that I would need to exchange my stellar lumens for bitcoin and then transfer them out. My issue now is how do I get ZAR for my bitcoin?

 

[C4Cat]

Hi,

Can anyone please help me. I have some lumens in Poloniex and would like to cash them out. I have done some research and found out that I would need to exchange my stellar lumens for bitcoin and then transfer them out. My issue now is how do I get ZAR for my bitcoin?

Luno.com

 

[Other Pineapple Smurf]

Unless you exchange your BitCoin for actual currency, SARS can't touch it. As long as you exchange your BitCoin for goods and services, no tax implications whatsoever. This is, for now, one of the beauts of crypto-currency.

Did my first online purchase using bitcoin yesterday. Was nice to buy a high ticket item just with this months gains. Bust building around the house so need to free up as much cash as possible.