Page 8 - Bit Coins News Today : Breaking News, Live Updates & Top Stories | Vimarsana

>> that is from source feed. what does that mean? >> germany asked the central banker to give a ruling on bit coin that would earn the respect which is to say private money. that legitimizes it and allows you to think about tax implications. that's where we don't see the guidance of the irs yet but we will see it pretty soon. >> they will say it's okay. >> they will say okay because private money has been traditionally okay in the u.s. when you think about brooklyn bucks you can exchange private money. it is about the capital gains they are going to be concerned about. >> i bought some and i l...

Coin. they report criminals are using the form of money for drug smuggling drug running and child pornography. not new information but a new report. tech experts say virtual currencies have grown in popularity in recent years. more folks use them for untraceable, online transactions. >> you can convert your real money to this virtual money. and i think people probably need to remember because i kept thinking about well, what backs it? you know, it's just virtual money. well, what backs real money? just a belief that it has some value. and what's happening very quickly with bit coins is that pe...

Currency as well. peter barnes is investigating for us live tonight in d.c. peter? >> well, shep, as virtual currencies like bit coin become more popular. officials want to make sure that users are protected. it's largely unregulated technology designed to help reduce the cost of buying and selling products by eliminating the middle man. in this case, banks which charge processing fees for transactions. the system is based on trust between buyers and sellers and supposedly secure but many cyber currencies are also backed by exchanges that can convert these bit coins and other things into cash....

Planned for october one. >> arthel: tiger woods, he was given a two-shot penalty but was not disqualified. he was spared thanks to a new rule that allows players to stay in the game based on television evidence. >> gregg: big problems this week for anybody holding the online virtual currency caught bit coins. bit coins. the price is reaching more than $250 on wednesday and then suddenly it crashed around $54 by friday. this is the treasury department is clarifying its position on dealing with bit coins. anita. i just love saying that. >> it's a little bit weird. some call it a ponzi scheme but...

Coast. >> good to have - you here. >> you can use virtual money to go to the grocery store. >> thanks, harris. they are using bit coins to buy or sell gods. here in new york city we found a bar that accepts bit coins. the bar can process the payment with software on ipad or tablet. some say it is a easier transition. >> it usually takes a while for them to take the money in the accounts. >> it is not just drinkings and bars. someone in texas claims to have sold his porsche for bit coins . someone in canada is looking for them in exchange of his house. >> harris: i don't mean to be a naysayer. ...