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Scan now accept bitcoins

Community Veteran
Posts: 38,244
Thanks: 933
Fixes: 54
Registered: 15-06-2007

Scan now accept bitcoins

http://www.scan.co.uk/info/bitcoin
Thoughts as I haven't a clue about them except that the value seems to be highly volatile http://www.theregister.co.uk/2014/02/07/mtgox_withdrawals_halted/
6 REPLIES
nanotm
Pro
Posts: 5,671
Thanks: 108
Fixes: 1
Registered: 11-02-2013

Re: Scan now accept bitcoins

aside from the scandals about how people spend thousands of pounds running bit coin miners only to get robbed of their collection by unscrupulous dealers, the failure to gain international recognition as legal currency and the ties to criminal fraternities I'm sure there fine
I think scan is in for a world of pain accepting them since the bitcoin system is flawed and doesn't prevent the creation of coin doubling .....a report into which was written by the Us treasury dept when they were denied status as legal currency....
just because your paranoid doesn't mean they aren't out to get you
Community Veteran
Posts: 1,850
Registered: 11-08-2007

Re: Scan now accept bitcoins

it's a grand ponzi scheme is bitcoin.  the first in win and the rest, playing catch-up, will lose.
Thunderclap
Grafter
Posts: 673
Registered: 08-09-2008

Re: Scan now accept bitcoins

Cool Bitcoins - If it sounds too good to be true, then it probably is.
I suggest Scan now accepts them as they have a base of extreme gamers and [white hat] hackers, who will also use and mine Bitcoins - Guys who purchase a lot of extreme hardware from Scan.
However, HMRC has warmed to Bitcoins, possibly because the Government wants its CUT of the Bitmine Industry.
See : http://www.telegraph.co.uk/finance/currency/10583859/HMRC-considers-changing-Bitcoin-taxes.html
I would not like to 'account' for bitcoins in a business though. No one can really decide whether they an asset with chargable gains and losses, a foreign currency, private cash on a hard drive... or just a way of helping criminals launder money through your books?
The real issue is the volatile nature of the currency. A 30% fluctation in exchange rate per day is not unheard of. This volatility only serves those selling and not buying. Think of a Gold Rush - the only people who get rich are those who bought up all the shovels at the start of the gold rush. And the Government, who charge sales tax on each shovel sold.
A bitcoin mine-field.
Community Veteran
Posts: 5,316
Thanks: 465
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Registered: 21-03-2011

Re: Scan now accept bitcoins

Russia has declared them illegal and their "value" has dropped.
Now Zen, but a +Net residue.
Thunderclap
Grafter
Posts: 673
Registered: 08-09-2008

Re: Scan now accept bitcoins

Quote from: AlaricAdair
Russia has declared them illegal...

Cool And there I was thinking HMRC would need to create yet another page for the tax return.
So I wonder who knew the Ruskies were going to make the anouncement, whilst the world was looking somewhere else in Russia on Friday? Not that there's ever insider dealing on any money market? Because there's always an audit trail, right?
Lips are sealed Who buys, who sells, who knows?
Community Veteran
Posts: 6,307
Thanks: 86
Fixes: 3
Registered: 08-01-2008

Re: Scan now accept bitcoins

Aria also starting to accept them: http://linustechtips.com/main/topic/112453-uk-retailers-scan-and-aria-pc-begin-accepting-bitcoin-as-...
Call me 'w23'
At any given moment in the universe many things happen. Coincidence is a matter of how close these events are in space, time and relationship.
Opinions expressed in forum posts are those of the poster, others may have different views.