On 10/26/2017 12:21 AM, Rodney Elliott wrote: > Hi All. > > > If I were to purchase a cryptocurrency (say Bitcoin) with a fiat > currency recognised by gnucash (say USD), then the procedure to > record the transaction is clear - create an asset account of the type > 'stock', associate it with a new security that uses the coin ticker > (BTC) and the maximum number of significant figures supported by > gnucash, etc. > > > > What to do in the case of mining a cryptocurrency is less clear. The > BTC asset account would need to be credited with the amount of coins > mined, but then what? How do you balance this transaction, given that > no fiat currency was involved? The cryptocurrency was effectively > created out of thin air. I feel like the answer is an equity account > of some description, but I do not think that it would be appropriate > to have an equity account of the type 'stock'. Is there a tractable > solution to this problem? >
If you found gold on your property and worked as a gold miner, and took the gold as payment for your labors, how would you account for that? Maybe it is just income paid in that alternate currency; gold in the case of gold mining, BTC in the case of bitcoin. ??? -- .~. Jean-David Beyer Registered Linux User 85642. /V\ PGP-Key:166D840A 0C610C8B Registered Machine 1935521. /( )\ Shrewsbury, New Jersey http://linuxcounter.net ^^-^^ 07:15:01 up 20 days, 6:41, 2 users, load average: 4.31, 4.30, 4.12 _______________________________________________ gnucash-user mailing list [email protected] https://lists.gnucash.org/mailman/listinfo/gnucash-user ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
