This is indeed astonishing, when considering the interim ambivalent developments:. History Economics Legal status. Retrieved from " https: What Are Bitcoin Wallets? Due to the energy prices, which are among the highest in the world, it was no longer profitable.
Since an issuer is lacking when mining Bitcoins, they can also not be classified as "e-money. Retrieved 15 November Retrieved 10 May As a result, Bitcoins would become more mature. Some users — especially speculators — might get deterred and prices for Bitcoins could cool down and become steady. Order by newest oldest recommendations. Let us look at Ethereum.
This post was resteemed by resteembot! Department benefits as a customer of Bitcoin. Bitcoin bitcoin in Switzerland are subject to anti-money laundering regulations and in some instances may need to obtain a banking license. New German Times Company. Retrieved 23 Mining Given the sluggish global economy, new and promising industries should be celebrated! Bitcoin is not Currency in Japanese ".
Learn more about the resteembot project in the introduction post. Where do you live? How much is the electricity there? I have lived in Angola and the electricity is very cheap! The only problem is that the wather is very hot and humid so you would need more electricity to cool down the mining operation.
Estou preocupado para saber Brasil Pode ser uma boa alternativa jsantana! However it's just not profitable! In the other hand, you can find here "Top 10 ways to mine BTC without spending electricity" Mining just require a lot of electricity Authors get paid when people like you upvote their post.
I'm going to look at it and soon tell you. Thank you so much! The value-added tax law in many cases does not, however, strictly follow the income tax law. Therefore, it may be correct to treat Bitcoins at least as a "fee" for value-added tax purposes. In fact, the entrepreneur, who uses Bitcoins as a means of payment pursues no economic interests beyond the pure payment of a fee.
Already in , the German Federal Finance Court had decided that in such a case no value-added tax is accruing. Hence, he value-added tax treatment of Bitcoin transactions has only been partially clarified in a satisfactory manner to date. Clarity will probably only be obtained when the first financial court judgments are available.
We advise in particular companies, which take a pioneering role by accepting Bitcoins as means of payment to seek timely professional advice — not least also because in the case of an incorrect handling of this topic, they may be accused of careless tax evasion or even deliberate tax fraud.
Each entrepreneur can and must know no later than with the now published statements of the German Federal Ministry of Finance that a tax on the sales of Bitcoins is under consideration. On the other hand, it can not be the patent remedy, either, to account for and to pay for all relevant Bitcoin activities for reasons of precaution out of "anticipatory obedience".
The right strategy depends in fact on the type, the size and the line of business of the company. If you have any questions about this topic, we would be glad to provide you with the necessary assistance. Our range of services includes not only legal representation; as a full-service law firm we also offer the complete spectrum of tax advice.
In particular, ongoing financial accounting in the case of Bitcoin companies can be challenging and costly. You can reach us by e-mail info winheller. Map View all offices Tel.: Bitcoin Taxation in Germany. This calculation gets even better if you obtain your energy cheaper, be it by generating if by yourself, be it by getting industry rates.
However, you need to take into account that the hash rate, especially of Ethereum, increases rapidly. Mining is a zero sum game. The individual revenue decreases when more people participate.
Therefore in the long run mining will always be a business of marginal costs; it will only be profitable when you push the expenses for hardware and energy down to the lowest level possible. This is why hobby mining is doomed to die at places with high energy prices, like Germany, and migrate to locations with low energy prices.
This process could be perfectly observed in Bitcoin mining. So — why is it different this time? Why is Germany mining again, despite the bad conditions? We will find the answer to this question in an astounding observation. Usually, the difficulty of mining adjusts to the price.
If the price of a cryptocurrency increases, more people mine it. So the hash rate increases, and with it the difficulty of mining. The system will always find a balance which reduces the profitability of mining to a very low margin. Currently, this balance, however, seems lost.
Let us look at Ethereum. It multiplied by a factor greater than Now we look at the difficulty. It also increased, but only from to , which is by a factor of 7. The values do slightly vary if you change the observation time — but there is no way around the recognition that the difficulty does not catch up with the price. The astonishing conclusion must be; there are not enough graphic cards in the world to adjust mining difficulty to the price. A look at the availability of the cards most popular for mining confirms this.
Bitcoin-Live maintains a list with the graphic cards best suited for mining.
29 Jun Mining is back. Chris of Bitcoin-Live, a long-term German miner, jokes that if the trend holds in Germany will soon replace China as the world's leading mining place. But only a few miners use Asics to search for Bitcoins. Most use instead graphic cards to find Ether or Monero, the two biggest asic-resistant. Unfortunately for me, I'm from Portugal and I live in Italy:(Wan't to know why you can't mine in this countries by bitatlas. Considering the cost of electricity in Germany, as in most of the world, I would suggest the best software to create a Bitcoin Mining Facility in Germany is Minecraft. You should be able to construct quite a good setup.