Maybe in some place, but that is not true in the U.S. Diamonds are not currency either. However if you find a diamond you owe taxes on it. Any wealth you gain is taxable in the U.S.

  How to explain this to you.... Never mind, you would need to retake high school math first.

The most profitable way to cash out is to realize that bitcoin is cash. Why not just use your BTC to buy the things you need? Not only will you save the fee for switching back and forth between currencies, but you will find that many retailers offer a discount for paying in BTC. For example Overstock.com saves 3% over a credit card sale and passes that on to you. Just that one retailer sells everything from shoes to cars. All for bitcoin, all 3% off.

LOL, don't worry, it was blessed by Satoshi! 

NO escrow, no loan. A whale like you should know that. 

I think if you summoned all the computers in the world you would find your private key in  billions of years. This is why we use encryption, it *can't be done.

If this is a password based encryption then you should try writing down anything you remember about that phrase or word. You could then systematically try variations. Or if you know that it is an actual word you could try a "dictionary attack" by testing all words in a dictionary.  If it is a random combination of characters then it is basically impossible. You would have to "brute force" it by trying all possible combinations. How long it will take depends on the length of the password. It could take billions of years.



*- Theoretically, it could also be your first guess.

As mentioned above, read the other threads. But to find a real and specific answer you will need to talk to a tax consultant in your country. The short answer is yes, I am not aware of any nation that does not have an applicable tax on bitcoin.

Obviously taxes apply in most (all?) countries.
But I wonder if there is any place on Earth that has no taxes associated with bitcoin? Like maybe Dubai?
Anyone know this?

Gambling strategy, hmmm... What I do is get my cash together and put it in a safe. Haven't lost a penny yet!

Bitcoin ATMs.

Getting BTC should be as easy as going to the bank or ATM. Unfortunately here in the U.S. the big banks have made it almost impossible to become a legal "money transmitter".  This is being worked on, but can't come fast enough for me.    If bitcoin could be bought at an ATM then I think POS adoption would explode.

Ok, is this it? 5Kb8kLf9zgWQnogidDA76MzPL6TsZZY36hWXMssSzNydYXYB9KF

lol, If you did it right no one can help you.
But let's see. How many chars in your password? Are they a mix of all chars, including special, numbers, caps...?
What encryption scheme are you using? RSA, SHA,...?

And the price just keeps climbing.   

It was reading the whitepaper that brought me here in 2010. It should be considered a must read for all users. The whitepaper IS bitcoin. Everything else is just an idea based on this document.

It's in my sig if your looking for a link. (The gospel according to Satoshi - https://bitcoin.org/bitcoin.pdf)

I like diversification. Keep some in bitcoin, gold, fiat, and real estate. You may want to start by recovering all your initial investment in dollars. Then you can work with the gains you have made and be certain that you can't lose. A little like the gambling strategy of only playing with the casino's money.  

If this is about saving then be sure to chose assets that store wealth. Buying a new jeep would be awesome, but it will likely be worth less each year. In fact few consumer items will appreciate if you plan on using them. Maybe guns? Most of my guns go up in value each year.  You will also want to avoid things like diamonds.  That market is manipulated giving a false impression that diamonds are more valuable than they really are.

It's worth remembering that bitcoin is the fastest way to send money. Credit cards take days or weeks to confirm and are rife with fraud. When I order something online, a vendor can wait for confirmation that normally takes minutes. Then the vendor can ship with absolute certainty of payment. Unlike a card, the vendor has money, not the promise of future money, but the actual money.

It would not surprise me to see paper or coins backed by BTC catch on just as deisik described. Personally I am not a big fan of theses ideas because they introduce opportunities to counterfeit and because it'/s just a piece of paper. It is why I don't buy "paper gold" either. In that system you pay for gold and get paper and a promise. No thanks.

True. I don't know all the rules out there. And the UN is the largest international organization with some authority. However they have utterly failed to enforce even the most agreed upon rules. Syria is a member that drops poison gas bombs on it's own people with no repercussions. So I can't see a resolution baning BTC.
But crazy things do happen. Perhaps they would try a ban.   In that case I am going to refuse to obey. What are they going to do? Send troops from China to stop me? My own government would also be powerless to stop me. Indeed they have never really stopped me from doing what I want. It would be very easy to get enough people to disobey that a crackdown would simply not be feasible.  

How?
I am not aware of a single law that is worldwide.

Ah the mythical whale who's evil plan is to either buy all the coins or crash the market with a huge sale at rock bottom prices. Here is why that is not going to happen.

If the whale tries to buy all the coins he will drive the price ever higher. He can't actually just buy them. He must make a deal with every person on the planet who holds BTC. To make it worse, he doesn't even know who those people are. Good luck.

Now let's say he does manage to buy a million coins for his evil plan to cause a panic. When he sells them all for a penny a piece he is going to lose huge sums of the money. It will cause a crash as long as he is selling. But when he is out of coins there is nothing to keep the price from creeping up again, and he has gained nothing.

So here is a spoiler alert. Wealthy people did not become wealthy by acting in a foolish and illogical way. They know the story of the goose that lays golden eggs and are not going to wast their time and money killing something they could profit from.  Only an "evil" whale, who cares nothing about profit, who only wants to destroy the price would do this. Even then it would be a temporary event.

Why?

It should come as no surprise that the teacher hasn't a clue. I teach science and at most schools the science is taught by someone with teaching "expertise" but no science background at all. The same is surely true for economics. If that teacher knew about economics s/he would never have pursued a teaching degree.
For those who have not been school in the last 15-20 years you might be shocked to see how much it has changed, and not for the better. All that money that politicians were going to save you by divesting in education is now revealing that, while education is expensive, stupid is even more costly.  

My students get to learn the truth about bitcoin and other stuff, but man do they pay for it. The private schools I teach at charge as much as $90,000 for a 6th. grade education.