Isn’t this a reno/flip project in Wanneroo? With no equity at present then buy and hold over 18 months while you reno will kill the financials on this deal. Time is everything. You need to be ready to flip at 6 months at the latest.

8.30am on a sunny Sunday morning and I’m watching the action at Mt Gox exchange. BC has been trading hard after China’s Baidu suspended payments Friday.

Holding around 700 after plunging to 560 yesterday.

For me it’s all part of the shake out as BC finds its place in the currency world and I certainly wouldn’t right it off just yet.

We are in the early stage of digital currencies and consequently no one really knows how this new iteration in financial systems will evolve. I doubt we’ll be any the wiser in a few more years compared to now but I think digital currencies are here to stay for the forseable future.

Citi have released an interesting overview as they see it;

Citi: Bitcoin Could Look Attractive To Reserve Managers As A Complement To Gold

Please provide an example. I have yet to find one in all of history. FIAT currencies by quantity and value are heavily manipulated according to the whims of controlling authorities who have less than 3% of the assets necessary actually back current values of our corrupted fractional reserve financial system. FIAT is the ponzi not BC

If you liken BC to a ponzi scheme then you do not understand it nor how it works. BC mimicks gold. There is a finite amount. Once mined there is no more. The more that are mined the harder they are to mine. If lost they are lost forever.

BC’s value is what the market says it is not what some CB decides. It is P2P and neither owned or controlled by any entity.

A ponzi scheme requires funds from new investors to be used to pay returns over and above actual investment returns to earlier investors with a resulting exponential debt being built up by the entities management. This is not what BC is by any stretch of the imagination.

ASIC offers advice in this area

Check out https://www.moneysmart.gov.au/managing-your-money/managing-debts?gclid=CPiIlPT2mbsCFQlZpQodJF0AqQ

to see what applies to you

It appears at this time that counterfeiting is impossible however theft and confiscation are issues currently. There is a laundering term called “tumbling” that involves a complicated process involving splitting bitcoins in to fractions and mixing stolen ones with fractions of legitimate ones

There’s a £60m Bitcoin heist going down right now, and you can watch in real-time

An over complication with high transaction costs. The objective is to move assets from the parent to the children as efficiently as possible.

He definitely needs expert advice on how to structure this for the least taxes payable all round, CGT, Stamp duty etc. TerryW ???

He could buy the land and his old man gift the money back if that reduces stamp duty and CGT on the minimum allowable price for such a transaction as opposed to the ATO/state taking a higher market valuation for tax purposes in a straightforward gifting of the land.

Give that boy a coconut!

RE industry manipulates auction clearance rates. Take them with a grain of salt.