My suggestions to the Original Poster: Get people in your IRC channel and on social networks to organize an in-person, real life protest. Make sure the press is there to film it, and do plenty of YouTube uploading with your cell phones. Make this a human rights issue, because it is. People just don't realize it yet. Freedom to control our own money. Seems like a basic freedom when you put it that way, doesn't it? Decentralized networks evolve. Come up with some way to continue providing the services without having a central point of weakness. Anything with a centralized resource can be stopped. Decentralized, multi-location setups can't be stopped. Think about the evolution from Napster to Bit Torrent. Each evolution occurred because the previous one was squashed. Now it is virtually impossible to stop it. Someone needs to get creative and find a way to host a decentralized exchange. so if you want to operate a exchange in india GET A LICENCE. Its cute that you think its like going to the DMV and getting a little laminated card. Pretty sure the licensing process in India is such that anyone attempting to get a license for this will be denied. I highly doubt this is an issue of a bunch of monumental idiots who just "didnt think of it" ... -Burger- |
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Do cell phones really need to replace home phones?
Touche! However ... cell phones didn't mean the end of government control over a major element of every society. Bitcoin would. If Governments knew that Bitcoin wasn't going to overthrow their power, they'd probably much more inclined to let it flourish. And with a worldwide fiat market value of 70 Trillion ... BTC could reach a similar market cap, as it would be used just as much, if not more, giving a per-BTC value of $3 million (as per calculations in another thread). -B- |
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What if Bitcoin was simply the worldwide global currency? The thing you could use anywhere you travel right alongside that given country's existing fiat?
A bad comparison: You can use that country's cash if you want, or you can use Visa anywhere in the world.
Wouldn't that be a more realistic future for Bitcoin?
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Total world money supply is ~70 Trillion 2013 USD. 21 million BTC.
70,000,000,000,000 divided by 21,000,000 = 3.33 Million USD per coin.
Max value of BTC is 3.3 million USD each. If it were to entirely replace all fiat on the planet..
What if Bitcoin became the "world economy" but in the sense that you could use it in every country in the world, side by side with that given country's fiat? You travel to singapore, you can convert to Singapore money or you can use bitcoin. London? Bitcoin. Bitcoin is used by everyone, everywhere as the "alternative" currency that is now global. Would it really need to *replace* fiat to attain that market cap and per-coin value? If it were to become *the* world currency, even if fiat currencies remained ... could it match the market cap while remaining side-by-side with fiat? -Burger- |
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As far as I understand it, Coinbase does not kick out a 1099 to the IRS.
Do what you will with that information.
Secondly, even ebay has a policy that they don't report until you've filled two requirements:
1) You have done over $20,000 in business, and
2) You have over 200 transactions within a calendar year.
Its not or. Its and.
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Yes you are doing a great job proving revans point over and over again.
Electric, here, let me help you again: His point, once again, was people's arrogance about Bitcoin in the setting of a $1200 Bitcoin price. His point was not about general arrogance, a snooty attitude in a reply, or people expressing irritation about his trolling. Nobody in this thread has proven his point yet. You must like revans quite a bit to keep pointing to irrelevant things and calling them "proof of his point", accuracy be damned. |
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I just tried to withdraw 5.4 million DOGE from BTER because there's basically zero people buying and selling ... I got an error: "Exceed each time withdrawal limit 1000 DOGE" Wouldn't let me withdraw. And I have no idea wtf that error message is supposed to mean. I have only been using bter for a week or so now. Have not tried to withdraw yet, but so far no problems, but i will keep an eye on this. If you haven't tried to withdraw yet, how can you say "so far no problems" ? lol . The problem is you can't withdraw... EDIT: I was able to withdraw BTC without getting an error, but a half hour later nothing is showing pending in Cryptsy where I sent it to. People have told me today that Cryptsy's delays on deposits are fixed so I am only slightly concerned that the coins are gone. Probably delayed. |
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Are you sure that if in Germany you buy 5,000€ in bitcoins and after some time you cashout 50,000€ you have 0% to pay? No capital gains tax? No other tax? I don't think is that easy.
If you hold the coins for more than 1 year, there is no capital gains tax in Germany. http://arstechnica.com/tech-policy/2013/08/germany-recognizes-bitcoin-as-a-private-money-subject-to-capital-gains-tax/(note the subtext on the title). "The Ministry also clarified that if a German taxpayer holds bitcoins for more than a year, she is exempt from paying the 25 percent capital gains tax." Germany was actually the first country I heard announce this, so it's been on the list for awhile now. -Burger- |
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1. Slovenia
2. Germany
3. Isle of Man
4. Belgium
5. Switzerland (1.2% tax)
6.
7.
8.
9.
Any others yet?
As a side note, we joke about citizenship, but I see no reason why it wouldn't make sense to do two things immediately: Work on citizenship (dual?) and set up a bank account there. If you are going to cash out large quantities, you'll want a bank account that has some longevity and activity, so as to avoid questions from the bank. No reason why you wouldn't set that up now and begin accruing longevity.
As for citizenship, do you have to renounce your US (or other) citizenship to get citizenship in one of these other countries? I mentioned "dual citizenship" because I've heard of such a thing. Know nothing about it though...
-Burger
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Not so unbelievable, it only requires 50X more demand...
Or 50X less supply! There better be 500,000,000,000 more demand if we switch to mBTC because guess what kids, Bitcoin is almost infinitely divisible. Once you have an "infinite" amount of pieces of Bitcoin that the consumer public can acquire for buying and selling, the value goes wayyyyyyyyyyyyyyyyyyy down. Endless supply. Disclaimer: I pray I'm wrong. |
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At these prices more serious investors will come in investing bigger amounts. One large investor investing $1m is the equivalent of a thousand "normal" people investing $1,000.
Just heavily edited my post from original. lol |
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I think this should be common sense. But maybe my logic is wrong somehow, well here goes.
When bitcoins were $20 dollars each, and you bought $1000 dollars worth of bitcoins, you would own 50 bitcoins.
Bitcoins at $1000 each, you buy $1000 dollars worth, you have 1 bitcoin.
Now for you to double your investment to $2000. Bitcoins at $20 dollars each would have to rise to $40 dollars each.
To double your investment at $1000, 1 bitcoin would have to rise a whopping $1000 dollars more for you to double your investment. This is why, I think, people are going to stop buying whole Bitcoins, and the price will level out..... until the saturation in the market goes up exponentially, and everyone is buying and selling with the stuff. People will want to know how to get some. Nobody's going to buy a $1500 bitcoin. Most wont want a 1/100th of a bitcoin. So when the demand increases enough that larger entities, such as companies (to pay salaries), governments, etc. then i can see the pure *demand* for BTC overall start to push the price up again. Unless there is a *massive* marketing effort to transition "Bitcoin" to "sub Bitcoin" (mBTC) ... people are going to stop buying in. And after numerous discussions with everyone including the Bitcoin Foundation, it doesn't seem anyone gives a flying shit and isn't planning on doing anything. Coinbase has said outright they have no plans to switch to mBTC. Nobody wants 0.00001 bitcoin. So when people start getting paid in BTC or some other method by which to purchase "whole" amounts (think - winklevoss trust - bitcoin shares) which constitute sub-BTC quantities ... I believe we will level off above the $1000-$2000 mark. And I could be dead wrong. But I have yet to hear a single person explain to me why the outright purchasing of bitcoins will continue past that which most humans can afford. |
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the expected life of a complex system (like the Fed or like bitcoin) is on the same order of magnitude as how long it has already survived for.
So each day as the blockchain grows longer, bitcoin becomes stronger. Exactly. Funny how some people don't grasp this isnt it? -B- |
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It's funny how *everyone* talking trash, is a new registrant here. Fewer than 100 posts.
My estimation: They "discovered" bitcoin a few months ago, googled for "Bitcoin Forums".
Found this one, signed up, and felt motivated to share their pearls of wisdom with this community.
So here they are, all with 11 posts, 38 posts, 85 posts ... telling us why Bitcoin will fail.
My guess is its a bunch of self proclaimed economic experts, stock guys, and others in the old school obsolete finance world.
Just something I've noticed. Obviously there are exceptions.
-Burger-
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Alternative cryptocurrencies like Litecoin and Peercoin offer the same advantages over traditional means of transferring funds electronically. The fact that these currencies trade like pennies compared to Bitcoin indicates that the current BTC price has more to do with the perception that BTC is a store of value than it does with its actual technological merits. Disagree. BTC's current value relates to the accurate prediction that it was first on the scene, is currently the most widely adopted, and is slated to have hundreds of millions more poured into it, in the future. The mere existence of copycats doesn't mean the first version is automatically the same value as the copycat. That logic doesn't resonate with me at all. That would be like saying a Led Zeppelin cover band could sell the same number of albums as Led Zeppelin. This value disparity can only be justified if BTC is essentially preordained to remain the world's dominant cryptocurrency. That's exactly why its justified. Not sure what predordained has to do with it. What really matters is moreso adoption. -Burger- |
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How hard is it for you guys to buy another server? This isn't rocket science.
If you know the problem, why aren't you resolving it?
I am pretty sure there is *no* shortage of income to buy more hardware, or an expert to fix the issues, unless all that profit is just being pocketed ...
---------------
1) 11 hours to transfer BTC into Cryptsy a few days ago. Eleven hours.
2) Cancelled a pending buy order. Waited FIVE HOURS for my account to be replenished after.
3) Initiated a withdrawal of DOGE at 4pm today. Here I sit at MIDNIGHT (8 hours) and it still says "Pending" while the blockchain shows a "0" balance at the destination address.
I'm not even trying to play the system.
I can't even perform basic functions.
Unacceptable. I am done with this site. Get your shit together.
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Why would it push the price up? Simple. Each mbtc would be sold for $1 and that would push the final btc price much higher.
The only way 1 mBTC would sell for $1 is if one whole BTC is *ALREADY* priced insanely high. So no ... your argument doesn't work. We're discussing right now. When one mBTC is worth $x.xxxxxxx1. We are not discussing 100 years from now when an mBTC is priced at $1.00 I want to know how it gets to that point. Next? |
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The scarcity argument you make doesn't make sense in this case although clearly one of the big draws to btc is that it is limited in nature.
Can you explain why it doesn't make sense? Everyone likes to say "wrong" but nobody gives an explanation why its wrong. I just end up writing the same thing 50 different ways, and not getting a single explanation why its wrong, in response. The only thing that can push 1 whole bitcoin price up, is a lack of supply and an overabundance of demand. Why will switching to mBTC, which alerts people to an "infinite" supply of sub-1BTC purchases, going to do a damn thing to push the price of 1 BTC up? It may ... but it doesn't *have* to. It can, in fact, provide 100,000 people with the ability to buy divisions of 1 BTC at a 1 BTC price of $650 without the value of 1BTC going up even one penny. That was the argument I stated, and I fail to see why its false? stop making treads with the sole purpose of complaining that BTC is not at $10,000 yet. It will happen eventually, but it's not likely to happen overnight, or this month for that matter. Come back next year or so. Some people are just so impatient these days. Why don't you actually read what I write, so that you don't make inane comments like this. Nothing in my post (or previous posts) was intended to "complain that we're not at 10,000 yet". Open your eyes and take the time to actually read what's written. Maybe this is why I am not getting any intelligent responses. |
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