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Russian police had an unexpected encounter while searching a house in St. Petersburg — a crocodile in the basement, the AP reports. The Fontanka.ru news portal said the incident happened Thursday while detectives were looking for undeclared weapons in the house of a man involved in staging reconstructions of historic…
The Las Vegas Elvis impersonator who renewed the wedding vows three times for the couple who allegedly held their 13 children captive said in an interview Tuesday that he was physically sick when he learned about the news reports, but was heartened by the thought that the children were finding strength in each other.
The disappearance of two teenage girls in Oklahoma 18 years ago is getting renewed attention—and the case is potentially making progress—thanks to the lucky discovery of an old crate. Craig County Sheriff Heath Winfrey was moving into the Sheriff’s Office in 2017 when he found a crate containing…
Police in the upstate New York city of Troy say quadruple murder is suspected after a “horrible” find in a basement apartment. Troy Police Capt. Daniel DeWolf says the bodies of four people were found by a property manager around 1pm Tuesday. Police have not disclosed the identities of the…
Big freight haulers want some tryout time with Tesla’s new semi-truck.
Orders are trickling in for the sleek vehicle, unveiled in mid-November. On Tuesday, UPS said wants 125. Last week, PepsiCo ordered 100. Budweiser parent Anheuser-Busch reserved 40. Sysco, the big food distributor wants 50….
Dear Liz: I desperately need your help! My husband, who is 91, is in the early stages of dementia. I just turned 88 and for the first time am responsible for making all the financial decisions.
We are deeply in debt and I don’t know the best way to proceed. We owe more than $ 40,000 on credit cards,…
“We have a 6-month-old baby and, you know, we have binkies in the house because of the baby and over the past five months, we’ve been missing many binkies,” Oklahoma dad Scott Rogers tells KFOR-TV . Rogers and his wife couldn’t figure out what was happening to their child’s pacifiers until…
If buying bitcoin isn’t a big enough gamble, there’s another way to wager with it – by betting on which merchant will be next to accept the digital currency. One British bookmaker has released odds on a range of big brands accepting bitcoin including McDonald’s, Walmart, and Amazon. Factor in margin lending and futures trading, and there’s never been more ways to bet with bitcoin.
Super-Sized and Decentralized
British bookmakers are fond of issuing novelty bets. It’s a means of drumming up free publicity and luring in punters who aren’t normally prone to gambling. From the odds of the Queen dancing to Gangsta’s Paradise to the likelihood of Andy Murray swearing at Wimbledon, nothing is too whacky. Despite the inanity of the bets, the odds are genuine, and thus indicative of the probability that the event will occur. Every year, scores of Britons take bookmakers up on their novelty offers and have a flutter.
The odds of McDonald’s accepting bitcoin before the end of 2018, for example, are 1/2, according to bookmaker Betway. In comparison, the British bookie is offering 1/5 on Walmart following suit, 6/4 for Amazon, and 5/2 for Apple. Given that bitcoin is moving away from everyday transactability to wealth storage, shrewd bettors may decide it’s more prudent to hold onto their money rather than risk it.
Despite offering bets on the probability of various bitcoin-related events coming to pass, Betway doesn’t allow its own casino customers to wager with the digital currency. Even if it did, it’s hard to imagine anyone wanting to lock up their bitcoin for a year at odds of 6/4 when there’s a good chance that simply hodling would yield a greater return. The same bookmaker has also offered odds of 11/8 on bitcoin surpassing $ 20,000 by the end of next year. Once again, however, believers in such an outcome would be as well to buy bitcoin.
Betting Good, Bitcoin Bad
Everyone wants to bet with bitcoin in some shape or form, it seems, but no one actually wants to pay for things with it. This week, a member of the British Parliament enquired as to whether cryptocurrency could be used to pay taxes. The written response from a government minister was unequivocal: “HM Revenue and Customs [Britain’s IRS] does not offer digital currencies as a payment method and has no current plans to do so.” The same politician also confirmed that profits made on cryptocurrency are chargeable at the normal capital gains rate.
If your bitcoin appreciates 10x, in other words, you’ll be expected to pay tax on its final valuation, rather than the price it was purchased for. The UK government has embraced gambling, allowing the trade to flourish while pocketing the tax windfall, but has been lukewarm on bitcoin. Despite fintech thriving in the city of London, cryptocurrency usage nationwide is still limited to the usual early adopters. The slow uptake is exacerbated by the fact that the UK still has zero bitcoin exchanges that permit OTC trading at market rates.
Until the government rectifies the matter, British investors find themselves short of options. They can either purchase coins from a European change for a premium or give up in frustration, place their savings on a novelty bet, and pray that McDonald’s starts accepting Bitcoin before 2019.
Which major brand would you pick to start accepting bitcoin in 2018? Let us know in the comments section below.
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The post Britain: Where You Can Bet on Bitcoin but Can’t Find a Bitcoin Exchange appeared first on Bitcoin News.
Big changes could be coming for the nation’s tax code, from revised income tax brackets and a cap on the deduction for mortgage interest payments to a new tax rate for small-business owners.
Wondering how those changes could affect your family? The Times is wondering the same thing — and we need…