I will use both as necessary. When the shops accpet bitcoin, I will use bitcoin. Otherwise I will use banks.
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Seems a lot of people are expecting global scale tax evasion.
Couldn't this be simply solved by changing the tax model?
Get rid of income tax / tax on your savings and just increase the tax on goods. Seems simple to me and saves a lot of work.
They cannot tax on saving if you own bitcoin in your own wallet. There will be consumption (goods and service) tax and property tax.
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Bitcoin is money,Pay Pal,Visa ,Master Cards are payment services Rest i dont care,Now we have even Bitcoin Visa debit cards and everybody happy
Bitcoin is also a payment system that use bitcoin as its main currency or you can say that the blockchain is the payment system that use crypto for the payment Bitcoin is money, payment system, saving and your own bank. It is much better than fiat system.
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If bitcoin ever goes mainstream it will surely ruin the lifes of all the ones invested in fiat (see https://bitcointalk.org/index.php?topic=180798.0). Gresham's Law will destroy their fiat savings, since everyone will want the stronger bitcoin and will dump fiat, devaluating it. We'll see it happen first in the troubled economies, with high inflation and generalized suspicion on governmental money because of past problems. The lives of those heavily invested in fiat is already being ruined due to 0% interest rates, negative interest rates in denmark and switzerland and a whole host of other things A mere 0.5% rate hike in the US will totally obliterate pension funds, life savings and investments held by 90% of the country 0.5% rate hike is more than 100% rise in percentage terms. Many borrower will not be able to afford it.
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Everything is possible to fraud,for example to create large btc derivatives market and launch bitcoin printing It is relativelly easy to do with bitcoin But i hope it will not happen and finally will be not only btc,ltc,but will be few globally used digital currencys But if world will depends on bitcoin not on us that will be our last days
As long as the retail banking is separated from investment banking, and the capital ratio rule is observed, we are pretty safe with bitcoin banking.
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2. Government don't like seeing their people using bitcoin, because they can avoid tax, fees & couldn't be tracked easily. So, they won't let bank or anyone to use or accept bitcoin. That's why most bank don't accept bitcoin. Please correct me if i'm wrong When bitcoin is regulated, governments want us to use bitcoin as it is traceable, and taxable, not like cash. that's not true, it's not traceable if i simply move funds from a place to another, taxable also, if i don't exchange it to fiat, there are no taxes, and many country don't even tax it regardless bitcoin is even more dangerous for the governments than cash, otherwise one could not explain why it was banned(and still it is in some countries) while cash was never When you are paid salary with bitcoin, which I hope in the future most of us will be, then the tax authority will know because your employer have to informed them and show them the transactions.
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Good proof that bitcoin uses less than others, much less than banking system.
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2. Government don't like seeing their people using bitcoin, because they can avoid tax, fees & couldn't be tracked easily. So, they won't let bank or anyone to use or accept bitcoin. That's why most bank don't accept bitcoin. Please correct me if i'm wrong When bitcoin is regulated, governments want us to use bitcoin as it is traceable, and taxable, not like cash.
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When banks cannot prevent the booming of bitcoin, they will adopt it
Would you want your bitcoins stored in the vaults of some bank that can freeze your holdings whenever they feel like and for whatever reason? The banks will never adopt bitcoin, because those that use bitcoins only use bitcoins and other crypto currencies so that they can completely bypass the banks and conduct frictionless, semi anonymous and peer to peer transactions The banks just cannot compete with the fact that my qt client does EVERYTHING a bank can do, and more... and also gives users the ultimate control over their finances I will use a bank when I need to borrow bitcoin from it. I will also save some to earn some interest with bank.
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Have you guys ever used bitcoins like a payment method? How hard it is to explain to someone what's bitcoin? In your country there are many stores where you can use the bitcoins? Do your friends related to bitcoin? Do they know what exactly is a bitcoin?
I have lived on bitcoin and other crypto currencies for nearly 3 years now The most simple way to explain bitcoin to someone is to have them use it themselves and let them gain a real sense of the benefits that bitcoin offers in lieu of the traditional banking system I always say that bitcoin is best used as part of a cocktail of other value transmission and value storage methods The difficult part is to ask them to give you their bitcoin address so that you can send them some coins.
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I would say it's already gone mainstream.
Of course there's huge room for more adoption, and it's not as mainstream as say people having a debit card or phone in their pocket.
I'm excited about the future of bitcoin and or cryptocurrencies.
No yet main stream. When 1% world population know about bitcoin, it is in mainstream.
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Change now the title and make ~$260 !!! The speculation has become very true, the price is increasing. By this trend i think that bitcoin will have a good value before the next halving.
There is no significant difference between $250 and $260. Both will be history in a few years.
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2% of the population
Do you really think that there's 160 million Bitcoin users? 16 or 6 million users of cryptocoin might be appropriate. I doubt more than 6 million people heard about bitcoin.
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if the problem of blockchain is solved, and 80% of the people knows about bitcoin then i think we can see a new world with new technology and where bitcoin is the mainstream of life.
Blockchain problem is the main issue of bitcoin at the moment. We need to reach consensus asap.
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yea bitcoins are fairly low rn but couple weeks ago they almost dropped below 200, so im gna wait till they drop to like 210-220 before i buy anymore. id feel bad about not buying if price only goes up from here lol
If the price hover around $255 for a few weeks, it is good for the next up run.
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Traceable. Better than cash which is not traceable. Bitcoin is easier to regulate than cash. So it should be promoted.
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The rise will happen long before the halving, maybe 9 months earlier.
basically now? i don't think so, it should happen around march if you want to consider the earlist stage march april is a good target for the next bubble, like the one that happened in 2013, before the ath, and has brought bitcoin to 230 peak The rise has started slowly. It is good for the medium price performance. This rise will be long and steady.
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The rise will happen long before the halving, maybe 9 months earlier.
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funny how comments of buy time come out when the price has gone up, but not when the price is down. it was the best time to buy when everybody was crying about the price and calling bitcoin dead, and it was low at $200. now it is time to sit back and enjoy the ride So true. Money frequently is at the opposite side of general opinion. Also, a trend is a trend... until the trend is broken and you lose money. The trend is reversing. The price will rise soon. Bitcoin has limited supply so it is deflationary. So the price will rise eventually.
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there will be tax evasion and unregulated activity all over the world, maybe is this the reason why gov don't want bitcoin to grow, by spreadig false info from time to time
there would be random rich guy, that were poor before, wealth would still be fucking unbalanced
The only reason banks are scared of bitcoin is because they would lose control. They wouldn't be able to make billions out of fees, fines, interest etc. Fuck the banks. They would lose control. But if they adopt/adept, they will survive and provide a service, no extreme profit though.
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