Questions tagged [accounting]
23 questions
7
votes
7 answers
Any multi-currency accounting ledger that lets me use BTC?
Are there any online or open source (i.e., free, or at least cheap) accounting systems that do multi-currency so that I can record revenues and payments made using BTCs in the same system that I use for USDs?
If not, are there any suggestions for…
Stephen Gornick
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7
votes
1 answer
How to do precise accounting with bitcoind?
I'm considering making a service that would be handling user deposits in Bitcoins through a server running bitcoind. Upon purchasing something through the service, I want to withdraw the precise amount of Bitcoins out of the account associated with…
ThePiachu
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5
votes
2 answers
Can Ripple gateways operate as fully transparent fractional reserve banks?
Any Ripple gateway that establishes a solid reputation will be tempted to switch to fractional reserve issuance of its own IOUs to increase leverage (which is exactly what the existing comercial banks do).
Question:
Can Ripple gateways' accounting…
Alex Kravets
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4
votes
4 answers
What are ways a BTC Exchange could steal from its customers, and how can they protect themselves?
Mt Gox is the dominant Exchange that handles BTC to USD conversions. Given the recent spike in price, and that Mt Gox is the primary exchange that publishes this price, it's conceivable that a second set of books could be used to manipulate the…
makerofthings7
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4
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1 answer
What is the "unit of account" in terms of Bitcoin?
Traditional economics depend on a "unit of account". Can anyone explain how a "unit of account" would be manifested in Bitcoin if so desired?
makerofthings7
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4
votes
1 answer
BTC Days Destroyed, Lifo or Fifo?
Imagine I've got 100 BTC in my wallet, which I accumulated at different points of time. When spending a fraction of my BTC, e.g. 10 BTC, which one of my 100 BTC do I actually spent? The last one I accumulated (Lifo)? The first one I accumulated…
lifofifo
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3
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Is there an asset tracking software that supports Bitcoin? (Better than GnuCash)
Possible Duplicate:
Any multi-currency accounting ledger that lets me use BTC?
I'm looking for a way to manage all of my assets. I have various assets in multiple currencies & investment instruments.
I think I would like to try using a software…
ripper234
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3
votes
6 answers
For US Tax purposes, is Bitcoin mining more like property, "work to solve a puzzle" or "winning a lottery"?
From a taxation perspective, I think it's important to clarify if running a Bitcoin mining operation is more like property exchange, labor to solve a puzzle, vs winning a lottery that runs every 10 minutes.
I'm looking from someone to answer who is…
makerofthings7
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3
votes
1 answer
Using Ripple for assets accounting, loans, deposits, stock exchange, etc
If Ripple can handle money as exchanger, is it possible to use it for other financial operations like assets accounting, loans, deposits, stock exchange etc.?
economicus
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2
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1 answer
What is correct way to count LN node stats
I am running a LN node. Set up monitoring to collect stats. Now i am wondering, how can i get correct conclusions about what collected information actually is.
My question is about forward (transaction?) count. According to my stats i had 14…
baysx
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2
votes
1 answer
How to know that the account balance of a user needs to be updated after paying/sending an invoice?
Lets say there is a service in which users can have a few satoshis but are also able to deposite/withdraw satoshis by paying/sending a lightning invoice. Let us assume the service has some data store which tracks the account balance for the…
Rene Pickhardt
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2
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1 answer
utxo vs account-model
There are two possible models, the UTXO model and the account model. Each has advantages and disadvantages. Bitcoin chose the UTXO model. XRP and Ethereum for example use an account model.
What are the advantages and disadvantages of each model?
Ini
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2
votes
1 answer
Tax deduction for US-based employer paying in Bitcoin to overseas contractor
My employer can write off business expenses (my salary) if he pays me via wire transfer, PayPal, Payoneer and some other international payment systems. Is there a tax-deductible method for him to buy Bitcoin and send it to my wallet (or to my…
user8994
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1
vote
2 answers
Missing 25% of my btc after a resync...
I've got a wallet with bitcoin in it that I've had since 2011 or earlier. I was just claiming XLM using my receive addresses and the total XLM I received is about 75% of what I should have.
I checked every receive address on blockchain.info and the…
user58470
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vote
0 answers
QuickBooks Enterprise bitcoin
My company is switching to QuickBooks enterprise. The only thing I would like to know before making the switch is if you can track bitcoin payments through the software.
Wayne Snyder
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