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161  Economy / Gambling discussion / Re: Cricket match prediction discussions on: September 03, 2017, 05:45:24 PM
India is just 100runs behind from the winning margin.As india has 7 wickets in hand,we can guess that india will seal the match for sure.Kohli playing another brilliant innings.I guess he will be the MOM.

OTOH,Australia will play the 2nd test match against Bangladesh tomorrow.No doubt, Bangladesh is much stronger at home condition.Australia need to give their best to level the series.

India won the match by 6 wickets and also they won this series by 5-0 clean sweep. Today again the captain Kholi made one more century and Kedar Jadhav also made well deserve half century this made India won this match easily without taking any risk. One more one side game it was a boring game, but only the Indian fans enjoyed this game. Congreats team India.   

They won the final 2 matches despite testing their bench strength and resting key players. Sri Lanka must be devastated after this loss. Now Sri Lanka has to wait for the result of the England - West Indies series to see if they can go directly to the ODI World Cup, or play the qualifiers.
162  Bitcoin / Press / Re: [2017-09-03] Bitcoin's nearly five-fold climb in 2017 looks very similar to tech on: September 03, 2017, 12:57:21 PM
David Ader, chief macro strategist at Informa Financial Intelligence, shows how bitcoin's gains resemble that of the Nasdaq Telecommunications Index before the tech bubble burst. Bitcoin has gained nearly 400 percent this year, helped by increased interest from institutional investors.
However, digital currency expert Chris Burniske points out the market value of bitcoin is still a fraction of what stocks were during the dot-com boom.
CNBC

You have got your dates wrong in the title of the post. This was published on 31-August, not today.
Comparing Bitcoin to other bubbles (Tulip, Tech bubble, etc) seems to be the flavour of the season.
163  Economy / Economics / Re: Why have Bitcoin instead of cash? on: September 03, 2017, 12:52:47 PM
Government and banks cannot put tax in you bitcoins. This makes having bitcoins much more worthy than having any tangible money. As long as you got nothing to loose, bitcoins are worth investing rather than money.

Oh they will find ways to do so, the US already wants you to tell them what crypto's your holding.

They aren't trying to find out what you are holding. They are however trying to find out what you have sold, and how much profits you have made.
They don't care how you made your money, but they want to tax it all the same.
164  Economy / Speculation / Re: Bitcoin to 7000 HOT SEPTEMBER on: September 03, 2017, 12:49:56 PM
$2 million is more than enough to lead a comfortable retired life.

Eh? in my country this value only serves to buy a comfortable home, but the person will not have a comfortable life for one year with 2 million dollars.



Do not need to rush to reach $6800 or more than $7000, most countries will legalize bitcoin in the future and many companies will accept bitcoin as a means of payment.

$2 Million is not enough? Very few countries in the world have an average per capita income of more than $100K/ year. Even in expensive countries, it is possible to live comfortably on $100k/year. That means your $2 million will last 20 years. A lifetime for most.  Smiley
165  Economy / Economics / Re: Illinois Launches Blockchain Pilot to Digitize Birth Certificates on: September 01, 2017, 08:29:08 PM
The state of Illinois has begun work on a new blockchain pilot focused on the digitization of birth certificates. Working with blockchain identity startup Evernym, the tools being designed would, if put into production, allow parents and doctors present at the time of birth to officially log the birth on a permissioned blockchain. But the project, which forms part of the state's broader blockchain efforts, is about more than just birth certificates. According to Jennifer O'Rourke, who serves as Illinois' blockchain business liaison, the platform being designed could ultimately lead to a broader identity tool-set that a person can use over the years.

A permissioned blockchain is just a fancy name for another database. This is just a means for Evernym to get some free publicity. As long as everything is done digitally, it doesn't matter what kind of database they are storing information on.
166  Bitcoin / Press / Re: [2017-08-31] Does bitcoin threaten economic stability? on: September 01, 2017, 08:25:33 PM
Ha ha... Central banks have succeeded in boosting real estate and stock prices, by printing vast amounts of money. This definitely is not economic stability. This sounds like they are getting ready to blame Bitcoin for the next economic crash.
167  Economy / Speculation / Re: First Time Btc hits 4800 USD! on: September 01, 2017, 08:22:12 PM
Why not wait until $5k to make a post like this

That might not take too long either. There are a lot of people who are waiting for that landmark and it will be attained at some exchange, sooner or later. I wonder which exchange will take the place for the first $5K trade taking place.
168  Economy / Speculation / Re: So where exactly are we in the bubble? on: August 31, 2017, 09:15:17 PM
you must unlearn what you have learned.

Do not try and predict the bubble. That's impossible. Instead only realize the truth... There is no bubble. Then you will see it is not the bubble that pops, it is yourself.

There may or may not be a bubble. It may burst, or the price might retrace to its earlier levels. In the end, if you have confidence in the long term potential of Bitcoin, it is only going to rise up.
169  Economy / Gambling discussion / Re: Cricket match prediction discussions on: August 31, 2017, 09:09:23 PM
I had a hunch on Sri Lanka today and bet on it a little but it looks like their self confidence is shattered and losing all their matches. I think they'll loose the chance to play in the next world cup and had to start with qualifiers which will be humiliating to them.

Too bad about your loss. Sri Lanka seem to be going from bad to worse in this series. But is it possible that they go below West Indies in the ranking table? The cut off date is September 30 and there is a big gap between the 2 teams.
170  Economy / Economics / Re: India should consider using Bitcoin to prevent " Demonitization " on: August 31, 2017, 09:04:00 PM
All these just show that it would be foolish to start trusting the government fully. Bitcoin traded at a premium in India during the demonetization drive and that premium has lasted till today.
171  Bitcoin / Press / Re: [2017-08-29] It Looks Like New Bitcoin Millionaires Are Avoiding the IRS on: August 31, 2017, 09:00:27 PM

At one point I had three law firms on retainer burning through about $250,000 of my money:  a Bitcoin savvy federal felony criminal defense firm [in CA], a special federal civil asset forfeiture defense firm [in CO], and a federal tax law firm specializing in Bitcoin tax law [in NY].  So from direct experience:  you owe the tax the second you convert your crypto to fiat and realize a gain over what the price was in fiat when you bought it.  Normally you can wait until the end of the year to fill out your Schedule D and report all your gains (minus all your losses) and then pay all the tax at once.  But if you have a large underpayment of taxes for the year there will be penalties and interest charged because you did not pay the taxes on time throughout the year when you realized the actual gain at the time you sold the crypto.

Some people might misinterpret that as saying you don't owe taxes when you trade crypto, as long as you don't tough fiat. Taxes are due when you convert crypto (to fiat, another crypto or anything else).
172  Bitcoin / Press / Re: [2017-08-29] It Looks Like New Bitcoin Millionaires Are Avoiding the IRS on: August 30, 2017, 07:59:46 PM
I personally haven't paid any tax over my Bitcoin gains, but that's mainly due to the fact that I barely actually cash out fiat to my bank account. That directly makes me wonder what the exact point is that I am supposed to pay tax. Is it (1) once I have sold whatever number of coins, but the fiat is still in my exchange account, or is it (2) once the fiat hits my bank account? I am hinting towards the latter option, but the first option makes sense too.

It is obviously (1), because that is when you have realized your gains. The exchange account is no different from your bank account.
If you extend the logic a bit further, are taxes due at (3) when you withdraw the fiat from your bank account?  Tongue
173  Economy / Economics / Re: Btc and government, what does the future holds? on: August 30, 2017, 07:56:23 PM
It crossed my mind yesterday and I was thinking what if the government wakes up with an obnoxious law against btc ?
Its trade, exchange and outrightly banning btc usage.
Is this possible?
Do you see this coming?
What do you think & what will happen?

Dude, "government" usually it's not one person, it's a lot of people, someone cannot simple push a ban on stuff and everyone goes with it, many people involved in "government" also have bitcoin and other crypto, they ain't gonna ban it.

There are many shitty countries where laws are like you said, the guy wakes up one day and simply ban stuff, but I think people there have more concerning issues than bitcoin.
Haha yeah, some pity countries are governed by dictators and only their bitcoins can e banned by a single person. But other countries that operate according to democracy, it is very much difficult there to ban bitcoins since they are providing people with liberty of using their money. Such countries can impose taxes on bitcoins.

It is not just dicatorships which take actions like stifling free speech and banning Bitcoin; democracies can do so too. They will just do it under the guise of greater good for the people. Or even if they don't ban Bitcoin, they can impose regulations which suffocate it.
174  Economy / Speculation / Re: Markets Update: Bitcoin Skyrockets to $4650 Setting New All-Time High on: August 30, 2017, 07:52:47 PM
After the back and forth action to $4250-$4350 we have surpassed $4500 and is kinda sitting pretty on that price range. Sell walls doesn't look like someone is going to release the floodgates so I'm seeing that testing higher highs is on the way. Also, it's good that many Asian countries are now leading in terms of trade volume. Economy is starting to get stimulated from all over the world.

If Asian companies are responsible for the increase in volume, that poses a risk as well. Any unfavourable regulatory action could lead to volumes disappearing. Still, I am hopeful of Bitcoin reaching $5000 by the end of this year.
175  Economy / Economics / Re: Can bitcoin improve the economy of a country? on: August 30, 2017, 07:48:10 PM
I believe it can. Perhaps more precisely citizens who use bitcoin, because they have opportunity to earn more income. Which certainly has an effect on condition of contrys economy better. Welfare charts growing and people's purchasing power is increasing by reason of income earned from bitcoin.

The ability to earn more income is not necessarily linked to the usage of Bitcoin. Bitcoin just facilitates trade. Thinking of the current high transaction fees, Bitcoin's utility even in that aspect has come down.
176  Economy / Gambling discussion / Re: Cricket match prediction discussions on: August 30, 2017, 07:44:41 PM
we have been witnessed a fantastic bowling dependent match of Bangladesh between Australia. though it has been a low scoring match, both teams have a chance to win this match. today morning it seemed that Australia was going to win the match when Smith and Warner were playing. but after getting out of both set batsman Bangladesh started to dominate in this match.and finally, They won ever first test match against Australia.

Bangladesh have gone from strength to strength. They have defeated Sri Lanka previously and now they have defeated Australia. David Warner's wicket was a crucial turning point in this match. He deserved his 100, but would have loved to take Australia to victory.
177  Economy / Economics / Re: Pros and cons of bitcoins for consumers and businessmen on: August 29, 2017, 10:21:43 PM
Plus for entrepreneurs is that they can increase the number of customers due to bitcoin users. The downside is that constantly changing price and they will be forced to recalculate the price of its product several times a day. To buy the goods for sale is also problematic. And the most important thing is that the majority of users are using bitcoin as a Deposit and don't want to spend for shopping.

You can only increase the number of customers if you add Bitcoin as a payment option, along with existing channels. Bitcoin alone is not going to result in enough customers to keep a business running.
178  Economy / Speculation / Re: Bitcoin top 5000$ on: August 29, 2017, 10:19:23 PM
$5000 seems to be a tough psychological barrier now; but we mustn't forget so was $4000. We crossed $4000 very easily and $5000 might meet the same fate, if there are no divisions or forks.
179  Economy / Gambling discussion / Re: Cricket match prediction discussions on: August 29, 2017, 10:17:40 PM
I hope this time WI win the game as now England are leading by 188 runs and it looks like they can make another 50 runs with 3 wickets left. They got just 1 day for the series to end and if WI want to win the match, they need to take wickets soon to restrict them to 200 and get the remaining runs by tomorrow else it would be a draw.
I think it's possible to windies can win the match but they have need 317 runs to win the match with 1 day remain. so windies have a good chance to win match but let's see what will happen at end.

It may also happen like this that West Indies going for winning with full force and dont lose the wickets soon and lose the match because we cannot expect what West Indies batsman can do. They will always give your surprise in the match they play.

For a change West Indies played aggressively and won the match with 5 wickets to spare. If they had tried to block for a draw, they would have lost wickets and been defeated. England's sporting declaration seems to have backfired here.
180  Economy / Speculation / Re: Are we already rich, gentleman? on: August 27, 2017, 08:38:12 PM
Definitely,i'm not a rich man since i don't even own a single bitcoin.I have an idea of joining the 21 BTC group since i hope that 21 BTC is much enough with this high price to become a rich person and enjoy a happy retired life.I don't think any one those who have made huge money and become rich with bitcoins would come and deliver here that he is rich.

You don't have to own 1 Bitcoin to become very rich. Who knows, even a fraction of a bitcoin might make you very rich in the future. You just have to make sure you hold, for a long time.
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