I recently paid for some local tacos using Bitcoin. My friend who was unfamilar with Bitcoin thought it was strange, like I technically didn't pay for them or something. We got into discussing Bitcoin and one of the questions he asked me was:
"Why would you want Bitcoins instead of cash?". For a second I didn't know what to say; then I thought about it and here is what I came up with. Feel free to contribute to this.
1) More security (especially if you are careful).
2) Bitcoins are a potential investment, cash is not. Paper currency only really goes down in value, Bitcoins have a lot of potential to be worth more as time goes on.
3) Fast, worldwide transactions at your fingertips.
4) Similar to #3, but it's a universal currency. It's legal in most countries of the world and you don't need any kind of currency conversion to send money to people in a different country than your own.
The last point is 100% correct, and we don't need any format of currency to send one random amount to any country. You want to send 1000$ or 10000$ to your friend or relations just calculate that amount in BTC and send to there BTC address. It will reach within few minutes, and they can cash it out through any other third party company, or they can withdraw the amount with Bitcoin debit card. This is the beauty of Bitcoin that is why people use Bitcoin instead of cash. |
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Because i don't have money prize is too high, 1 BTC is even over my monthly income. Its better to invest on altcoins mining
No i don't it is compulsory for anyone that he should only purchase 1 btc , even in starting i couldn't afford 1 btc worth of bitcoins so instead i bought slowly like 0.2 btc every month or maybe low and now i have lot's of bitcoin saved up in my wallet. And also investing on mining is really not that profitable if you count the electricity and other factors. Yes Bitcoin mining is not easy, It requires more electricity so where the electricity charge is low there, it is easy. And mining machine is also very costly you have to wait for a long time to get back your investment. So better try to earn coins in any other work or else try to buy a few coins regularly. It will not effect on your financial system and also you can able to collect Bitcoins slowly. |
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To grow the adoption of bitcoin we need people spending it as a daily currency.
In my country there is not much I cant buy with bitcoins.
Granted not a lot of retailers accept BTC yet but with all the services available now they dont need to.
A bitcoin debit card can be very handy.
Nowadays if I need to pay a bill then I can pay any bill via a site called livingroomofsatoshi
Please list any reasons why you could not use bitcoin for day to day expenses and maybe we can find a way.
I think this is a legalisation of Bitcoin in any country . Most of the countries are not accepting Bitcoin directly , since they allowed Bitcoin indirectly . Here I my self earlier advertising Bitcoin in between my friends and saying to make buy and sell through bitcoins but most of them first goes to see the legality of Bitcoin at Wikipedia for country . And about 80-90% friends said me to keep himself away from the Bitcoin. So in this case here it is more better to use Bitcoin secretly . I think this may be also a thing for many bitcoiners to not to use day by day in his practical life . The Bitcoin transaction is illegal in most of the countries, but people are using it freely without getting any risk from governament. And yes nowadays people first check in online and they enter to any new business. But in online if you read about Bitcoin article most of them are telling it is illegal currency, and we can not use this directly we need third party company to convert fiat currency. This type of information making new people stay away from this Bitcoin. If we get a chance to use Bitcoin freely, then it will become more popular. |
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I know it is a tricky question. What do you think, how many Bitcoins are lost forever and are 'out of the network' by lost private keys?
We can never give an accurate or solid answer to that because we don't have the exact data to know how many were lost. But I personally think that many Bitcoins has been lost especially in the beginning of the Bitcoin. Yes, it is not possible to say exactly how many Bitcoin we lost from the beginning. I think I lost too many coins. In the beginning, I lost more bitcoins. But now I can control my play and my bankroll so I hope I am not lost many coins in recent days. The professional gamblers will maintain this balance sheet. The normal gamblers will not care for this. |
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Hello everyone as the title says ^
Do you store your bitcoins online or on a wallet on your computer, perhaps cold storage?
I store my bitcoins in wallet app., you can use this app. for payments and you can even exchange your bitcoin into the actual money. I think it is the only wallet that is being used at my country. I store in online wallets, I have access to pay my bills through Bitcoin directly, and they will convert my Bitcoin to fiat currency with very less transaction charge. I almost get what the Google show Bitcoin price at the present time. So I am happy to save my coins in that wallet. And I will not use other wallets like a mobile wallet and offline wallet etc.. These are not safe, and what I am using the website they are number one Bitcoin exchange in my country. |
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How different is trading from just gambling? I know there seems to be a big difference with technical analysis and whatnot, but in the end aren't you just betting on something completely random?
Also on trading there is other method analysis fundamental and not analysis technical only, that is first different between trading and gambling, there are method for make prediction of price and the method had been used by all of professional traders in the world, there are not method for win on gambling game, the other different on trading we can do stop lost if the price against our prediction and I don't know there is stop lost in gambling. Both, gambling and trading has it's own and shared winning method. For example we can take martingale which is the wrost method in any situation. Mathematically we can analyze both, trading and for example take roulette. The main problem is that mostly serous gambling websites has algorithm to catch your method or change their strategy. to me i think there is big difference between the two. i think trading is less risky as compare to gambling because in gambling we totally depend on our luck, while in trading we use our knowledge and experience to make money in trading. In gambling also our skills will help us to make money in skill games, But I too agree that compare to gambling the trading is the best choice and it is more profitable than gambling. But in trading and gambling both we need the luck to make a profit. In gambling, if we have luck then our guessing will be right, and we win the bet, In trading, if our luck is good we will not see huge fluctuating in Bitcoin price, and we will make a profit.Like this luck will help us to make money in both trading and gambling. |
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Send your Coinbase BTC to Poloniex and then from Polo to the gambling site. Polo charges 100 bits only for withdrawal, which is cheaper than using a local wallet nowadays.
Exchanges like Poloniex and Bittrex uses a different address when withdrawing, tke note of that too.
I use XAPO account for all my routine transactions, and the good part is they won't charge any fee for sending money unless you're sending only a few Santoshi then they will have some charges. Recently they added these fees to avoid very small transactions on their network. I'm using this wallet for quite some time and so far no issues. |
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This transaction is successful already and received should have these coin in their account.
If they still claim that they didn't receive these coins then please open up a scam report on that site with all the necessary proofs so that other members will be careful while dealing with that site.
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I used to pay for my Skype with credits I bought from gyft.com but it doesn't look like they offer it anymore. Any other places to get Skype credit for Bitcoin?
i sell credit skype via btc email : asubangke2@outlook.comWith new account asking people to contact him on email. After that post, no other posts are done on this forum. Very suspicious, deal carefully. Also request him to show his account transactions proof for the safer side. This one looks like a nice one. But I never tried efiter site to buy any items so far. Since OP vouched for this service. I may try with first $10 credit soon. |
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New exchange being announced by a brand new account with a hotel room in London as physical address.
It's not easy to start an exchange, principally with poor informations and guarantees. The harder step is to gain trust from traders and proove to be a legit exchange. Good luck.
In this business, trust is critical to attracting people to your site. If people try to find out that you're not honest, then I don't think you can do any business even though you got the best website design. Let's see where this site will end up.. |
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It is impossible to have no transactions, bitcoin is already using globally. Yeah we stored coins but there is no effect like killing it, BTC is circulated through buy and sell, trading and investments. So there is no reason to say that bitcoin is useless.
I think you are correct that we are past the point of zero transactions. There is a whole industry of trading, gambling, and even porn sites that rely on Bitcoin. If we can get the mainstream population to fully accept Bitcoin, it should be successful. We know the truth it is impossible, but OP is asking if suppose people stop to do a transaction with Bitcoin and store coins for more profit what will happen. Off course if the transactions stop the Bitcoin value will stick with one amount. And all traders will stop to do trading after that what Op said it's right the Bitcoin will disappear. But in the present situation, it will never and ever happen. |
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If no one spend bitcoins, of course there will be no profit to be circulated to bitcoin economic movement on the system of digital currency. The buyers of bitcoin will no longer hold btc for their future profitable investments like in trading of altcoins that is known to be the most profitable ways of investing your alt cryptocurrencies. Everyone should spend bitcoin sometimes because holding it for so long time will have bigger profit and if you don't spend it, I think there will be less profit when btc price will definitely drops down again of price because the demand lowered.
You are right people think holding Bitcoin for a long time will give big profit. But it is not 100% correct. I too agree that holding bitcoin will give good profit, but we have to sell our coins at the right time. Because once the Bitcoin price is starting to drop within one or two days, we see 200 to 300$ fluctuations in bitcoin price. So it is a big loss. And people not sell or buy bitcoins then sure the Bitcoin will lose value in the market. |
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Investing is when you expect to get return from somebody higher than your investment but trading when you are expecting to buy something cheap and sell for bigger price to make nice profit.
Yes Investing will not big tension once you invest money you just keep watching your site status that's it. And here your big amount will give you a decent profit. You need more profit your capital should be 100% more what you are expecting. Trading requires skills, and you must have knowledge of market price. This fully depends on market price. |
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In my country localbitcoins is the best site to cash out my bitcoins as I find both traders there who transfers money to your bank account or you can even get hard cash by selling your bitcoins and it hardly takes few minutes for transactions apart from that I have never used any other site for cashing out my bitcoins.
Its is best site where you can exchange where ever in the world and some other exchange sites also there. Other than that trading site help, you can buy a btc debit card and can use the debit card to use in a regular ATM. Converting Bitcoins to fiat from local exchanger is bit risk, the converted money will come to our bank account. So the transaction will be noted. In some countries the govt will track all the transactions. If they find you are earning money from Gambling it's a big problem for us. But the Bitcoin Debit card is really good way to cash out. But in many countries we don't have this opertunity. |
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trading is risk, i dont think it wil be fixed income
maybe you can do that, if do you have a skill in trading.
I have seen many people have a fixed income with trading and If you work hard and learn a lot of skill in trading, you can still do the same as them. Do not underestimate an ability to make a good income every month with trading. There are many guides on the internet and some of them are very useful to read and to consider. Try to follow step to step and you will find that trading is not as risky as you think It is possible, but many time i am trying to earn fix amount from trading, but believe me it is really hard to earn fix wise, yet i suggest try to earn not see it is fix amount or not. But as you suggest follow step wise, but I think instead of it trading is risky. We can make money from trading every month, But we can not say how much we can able to make a profit from trading. It depends on your investment and skills. If you have experience in Trading and you know the right time to trade then only it is possible. Yes, many people are making money from trading, but the profit will be not fixed it varies depends on Bitcoin price. So don't make any fixed target. |
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You may find someone here also to do this job but if you're looking for quick replies for this kind of jobs then Fiverr is the best place. There you can even get many options to choose based on buyers feedbacks. You can try that option, and your job will be done at a very reasonable price.
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It's really worst to hear why these people kept on asking advantages of bitcoin cloud mining, despite of many concerns regarding to scam accusations from the experiences of those who sadly invested to mining sites. We have our own freedom to choose for and its up to them what they think is good for them, which they think profitable much. So to make this much clearer to whom it may concern, there's no advantages of btc cloud mining and its just a waste of profit and time.
Because every day some new people will enter into bitcoins and after having some bitcoins either they want to grow further or earn more coins, so they will still check whether these programs still got any benefits. If they check forum then they will come to know but by creating new threads they will get an answers easily and if any new updates. |
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No. It won't kill income tax. The taxes we have to pay for purchases is a lot.
Even if I have to give 0.01$ to my friend , including the fees and all I will have to pay around 0.15$.
That's a lot of fees/tax. But in the near future if this problem is solved , then it might kill income tax.
You are not paying tax to governament. You are paying transaction fees to third party site. They will charge that amount to send your coins to another person. This is the third party site income. If you pay the tax directly to governament, then they will not disturb Bitcoin, and they will allow Bitcoin as legal currency in your country. I think you are wrong because the governments are aware about bitcoin and they will adapt the tax system. This is not very difficult for them cuz everything is under their control.
Yeah that's true. Governments are much awake watching every moment of bitcoin. So if they are in plan to Levy taxes sure in a short will make regulations and make people get adopted to it. Recently one country have added bitcoin to the taxable assets list. Bitcoin killing taxes will not be much effective. Maybe the least country will entertain this Bitcoin. Already existed countries will not entertain this Bitcoin. |
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The only thing that i see danger in cryptocurrencies is the government because if the government will not agree in using cryptocurrency then if they will ban it then our hard work will turn to nothing so i think it is better if we make using cryptocurrency legal first so we don't have to worry about because the coins are legal and the government already approve it.
I don’t think government will have any issue with it or it takes down any cryptocurrency. I think the main problem that a government will have from it is that it is difficult to imposing tax from bitcoin but if bitcoin will make some changes for them in its rules it will be acceptable by them. Nowadays Government nothing doing to people They just work for international corporates and making laws and bills for their businesses. For bitcoin, Banks are the real evil for us and they just do not want bitcoin and then everything ll be ledger they cannot able to our money in shares or for other businesses. Yes the govt will not get any revenue from bitcoin. So we don't know when our govt will ban Bitcoin completely in our countries. And at present, they are not thinking about Bitcoin. Becasue they are getting revenue from other business. Once everything is stop, or any Banks will raise a voice against Bitcoin strongly then they will take action against Bitcoin. So this is the danger thing in Bitcoin. |
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Firstly, we should see which these points are same here in gambling and trading,
1. Invest money
2. Take the risk.
3. Luck
If we use our mind than we know all business are same, we use money and take risk and if we use our skills than it is chance we could earn more. Otherwise if we are lucky than luck wise we could earn more. So i don't think that trading and gambling similar.
Gambling gives us fun and trading is a kind of business.
Nope, the gambling will give both fun and profit. And Trading is just a business to make money. But the risk is same in both trading and gambling. You have to invest money to make a profit. But in trading at least you will have hope that you can make a profit, In gambling, this type of confidence will never come this purely depends on your luck. Even skill base games also base on your luck. |
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