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Do any of you think that BTC is becoming a growing bubble right now thats ready to burst? I dont think the whole BTC economy is not enough to sustain the growth of its currency. Did something big really happen in the BTC economy to answer for the high value of Bitcoin?
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Bitcoin is will be hot topic for many judges over the world. New York already had couple court sessions about bitcoin and I agree with most members here that in this case people from there can use bitcoins and that will be tax-free for them, that is a good thing for bitcoin, and many people there will see this is as opportunity to avoid taxes, for me that is a gray area and there will be new verdicts about bitcoin in near future.
How can it Bitcoin trades be tax free in the US if its not classified as a currency it will be classified as a commodity? Theres no such thing as tax-free in the US if you must know. Taxation is a means of controlling the people for them. |
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With 13 days left for the ICO presale to end the investment crossing more than 450BTC is quiet good shows the success and gives hope to more investors who are much focused on profiting through ICO's and new coins. Once the presale ends, based on the listing of the ICO on exchange websites the project success can be confirmed.
13 days are still long for the ICO of Quantum Project and for sure there will be more people that are going to invest to this great project. And expect that this will be listed on different exchange websites, since it has already collected a lot of bitcoins, then that's the next thing about it. Quantum Project surely will make a very successful ICO. Yes, there are still lots of things that can happen in 13 days before the ICO ended. Is there any announcements here on what exchange sites does Quantum will be listed? I'm looking forward to it for trading. I have high hopes on this coin. I think I will earn a lot from this if I will include this on the list of my coins that I bought for trading. No announcement yet about what exchange quantum will be on, but the price will rise above the presale price because quantum itself is a deflationary currency, it will destroy some token monthly and the circulating unit will be fewer and fewer and the demand will increase the value a lot. So it's a good decision if you want to to buy this one to include in your portofolio it will be good after the ICO end this coin added to big exchanger like bittrex or poloniex Bittrex and the smaller exchanges would be more willing to list this. Poloniex has gotten to be the first choice exchange by a large percentage of the altcoin traders that it has now the right to choose to list only the best cryptocurrencies. But if Quantum proves itself to be a good project, maybe it could be listed in a bigger exchange. |
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How Friends I Want Start A Small Business With Bitcoin With Daily Or Weekly Payment Any Idea From Where To Start Will Be Thankful.
try to invest using a computer rig with a high specs it would bebetter if you have many gpu in your computer you can mine many alt coins that you want and later on you may convert it to bitcoins. it is one of the good advices. Another bad advice. Mining has been more competitive than ever especially if you want to start mining the popular cryptocurrencies. Maybe youll earn some coins but it wont be enough to pay for your mining rig. If you dont know what youre going into, dont do it without the proper research. Both popular and unpopular coins will not support mining as a small business but it may help when we are approaching in industry levels. Yes, mining bitcoins as a high volume business may be possible but as of now it may require some millions to get start but given to subject to availability of cheaper electricity and cooling process. I am having a plan of mobile refilling start up both online and physical shop for my local people. I guess it will be having decent chances for hitting as per my study. If mining a particular altcoin reaches industrial level of mining, the more it becomes more specialized. The more it becomes specialized, the harder it is for anyone to compete with the other miners thats more efficient. You will also need more money to invest a mining farm. It makes it harder. How large is your market for a mobile refilling service? I have seen some come and go without reaching much success. |
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Thats good for their users. But it will be bad for Bitfinex if the first word of an indefinite freeze of their funds comes out. No person would he stupid enough to wait for 3 years with the risk of not getting their money out. The better option would be to withdraw now via cryptocurrency with high volume and avoid coming back to the exchange.
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It can easily attain that figure, as most of the alts are overvalued right now. When the alt bubble bursts, a lot of money from these coins are going to flow towards BTC. Right now, BTC is having a market cap of 61% of the total crypto. I expect it to increase to around 80% in the short term.
Some traders say that it is the other way around. That it is Bitcoin which is terribly overvalued and other altcoins need to catch on. For example Litecoin, what is happening to LTC might be something more that usual pump and dump. We can see real adoption signs - Coinbase added support for Litecoin, SegWit activation will follow in less than 1 week. Is that it? Is that the only thing where you get Litecoin's value from? If the answer is yes then LTC is very overvalued and so are the other altcoins. Most of them have no utility. |
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My original point was a currency of some country would be useless to another country because each of their governments wont accept another country's currency to pay as tax. If the United States government started to accept BTC for tax payments try to imagine what effect that would bring to it.
Well, I actually thought you were talking about Bitcoin, after all Another thing to discuss is its also good if the government or whoever starts accepting BTC as a currency. It would mean we could also pay our taxes with it. One of fiat's important function is to pay what we owe the government with it. Its one property that makes fiat valuable In fact, it was my point exactly that a foreign currency would be mostly useless in any country apart from its home one, and I told you that in this respect specifically Bitcoin won't be any different from any other foreign currency out there (unless the latter is accepted as legal tender, of course). You seem to have already forgotten who has been telling what Hehe yeah. Anyway that was the point. Another point I was trying to make was the government's acceptance of a currency as payment for taxes, in our case its BTC, would give it more value than any future approved Bitcoin ETF investment vehicle. It wouldnt seem that way but if the US government started accepting BTC payments in payment for taxes, license registration and the like, expect the merchants to follow soon. |
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How Friends I Want Start A Small Business With Bitcoin With Daily Or Weekly Payment Any Idea From Where To Start Will Be Thankful.
try to invest using a computer rig with a high specs it would bebetter if you have many gpu in your computer you can mine many alt coins that you want and later on you may convert it to bitcoins. it is one of the good advices. Another bad advice. Mining has been more competitive than ever especially if you want to start mining the popular cryptocurrencies. Maybe youll earn some coins but it wont be enough to pay for your mining rig. If you dont know what youre going into, dont do it without the proper research. |
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Do they still do not allow BTC or Ether withdrawals? I know fiat is out of the question ATM but is crypto moving out possible?
Cause if fiat is the only issue, that s a banking problem. If crypto s locked down as well, that s clear insolvency.
Why use the word "still"? Moving crypto in or out has never been a problem. The only thing you can't withdraw or deposit is fiat (unless you count USDT). Cause I was told crypto does not work either. If what you say is true, then there s no need to compare them to Mt.Gox. Having liquidity issues and having issues with banks not cooperating and not supporting crypto projects re completely different issues. Lets hope they resolve these issues soon. I've never seen anyone say crypto doesn't work. They even stated that crypto is not and will not be an issue (nor have I had one). The entire situation is just dealing with a bank. They still have all the USD, they just need a bank to allow them to send/receive again. Think of it like them holding everyone's fiat in cash -- they have it, they just need a way to move it. Are there any more updates on their banking situation? Is Bitfinex going to move the funds to a new bank? Do they even have a new bank ready to accept them as a client? Its taking too long if the problem is a simple banking problem. Maybe someone should contact the Taiwanese bank to see if Bitfinex's account is frozen. Banking problems are never "easy" when you are dealing with international transfers. Even getting a bank to allow international transfers usually requires jumping through hoops. Then add in the Taiwanese issues and it's compounded. Then would that mean theres a chance all the users' funds thats being held by Bitfinex will be frozen for a longer period of time than we have anticipated? What if 90% of all Bitfinex users leave the exchange and withdraw everything they have in BTC, ETH, LTC and ETC? Maybe thats the reason why those cryptocurrencies are being pumped. |
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I might be able to help.
I have an account with one and am quite pleased with the results.
Any questions you might have I will be able to answer for you.
I will send you the details of the one I have used and can say have had substanial success with due to their commitment to putting the customer as their top priority in running a good business relationship.
I would like to know how much BTC I need to invest in cloudmining contracts to earn BTC.5 per month. With the difficulty of mining increasing, how much of that BTC.5 do we need to reinvest to maintain the BTC.5? Not too large I hope or else we end reinvesting everything for nothing. |
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It is now a bubble, when will bubble burst? You never know. Keep fingers crossed now and hope that it keeps climbing.  Sorry but I strongly disagree! Bitcoin is far away from being in a bubble. We move up and correct a bit. Higher highs and higher lows is the result. That's healthy growth. But altcoins are 100% in a bubble! And that bubble will burst sooner or later. And this could take bitcoin a bit down as well, while alts will completely get crashed. Or this then could trigger a new massive bitcoin bubble because everybody is shifting to Bitcoin. But right now Bitcoin is doing pretty good. Please explain how its not a bubble. Im not saying youre wrong, I want to know your reasons and analysis behind it since youre someone who has been in the forum longer than most of us. Your expert opinion would mean a lot to us newbies. |
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So you basically confirm that any fiat currency, maybe, only apart from the major ones that are universally accepted (like the US dollar) are not real ones from a view-point of someone to whom they are of no use. In this way, they are not real currencies, and the whole issue can be happily reduced to what someone thinks about a specific currency (more specifically, whether he can pay taxes with it or not, as per your reasoning). If so, how Bitcoin is different from all these other "unreal" currencies then?
Note that for a Kenyan merchant it is of no importance if someone can pay taxes somewhere with the Japanese Yen
Up to some extent, yes the Japanese Yen will always be useless for a guy in Kenya. But imagine this. If the Kenyan government start accepting Japanese Yen as payment for their people's taxes then everything about it changes. Its like a license for everybody in Kenya to start accepting it And what does it change in respect to your original claim? Namely, that Bitcoin is not a currency since it is not accepted as a legal tender anywhere if other currencies are not accepted either (apart from their home countries, of course). Indeed, if the Japanese Yen is adopted by Kenyan government for payment of taxes, it will become quite useful in Kenya, but I could just as well say that the same is equally applicable to Bitcoin. In fact, the chances of some government (like that of Kenya) to accept Bitcoin seem to be a lot higher than accepting the Japanese Yen since the latter is one of many other fiat currencies out there while Bitcoin is unique (even among cryptocurrencies). Strictly speaking, the Japanese Yen is one of the major currencies along with the US dollar, British pound, Swiss franc and Euro Yeah the same situation with the guy in Kenya who wont accept Japanese Yen as payment because he cant pay his taxes are quite often cant buy anything with them in his country. People could choose to accept something like BTC because its a novelty but think about if its useful for an ordinary store in your country. Its better to accept the local currency I think an analogy with gold would be better here Gold is not a legal tender anywhere in the world unless we talk about local gold coins accepted at their face value (i.e. way below there real worth). It is considered as money even less than Bitcoin. Gold is recognized everywhere in the world, though it is still not very useful for daily expenses (just like Bitcoin as such). But you can still exchange it for local currency since it is valued across borders. Bitcoin is in the category of things universally valued, and many countries have exchanges that will allow you to convert your bitcoins to local currencies without much ado With gold its still a maybe. Maybe your small mom and pop store will accept your gold and bear with the conversion costs and the labor of going somewhere to exchnage them from you. But if you go to a gas station do you think theyll accept your gold? Maybe they will only because its stable and have been used as a store of value for thousands of years. Bitcoin cant claim the same You are severely sidestepping your original point Nevertheless, I'm still inclined to think that at a Kenyan gas station you would fare a lot better with gold than Japanese Yen (or some obscure currency the name of which neither of us has ever heard). And this is what my point is basically about. In any country you could sell your gold. It may take time and effort, but this is a way better than to get stuck, say, with Albanian Lek somewhere in Uruguay. The same is essentially applicable to Bitcoin as well, and that has nothing to do with its being novice and whatnot My original point was a currency of some country would be useless to another country because each of their governments wont accept another country's currency to pay as tax. If the United States government started to accept BTC for tax payments try to imagine what effect that would bring to it. |
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Hello people,
I am searching on internet for a few days where I can buy some mining power. I have arround 1000-2000 eur in mind to invest, i saw many cloud mining websites but not even one is giving me confidence.
Can you share some feedbacks about websites where I should invest?
Dont waste your money on cloudmining contracts. The legitimate ones will not make you enough for you to be happy. The ones that promise that they will are scams. Its better for you to invest directly in BTC and lately LTC too is starting to look good because of the possible activation of SegWit. |
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Bitcoin has officially breached the $1500 level in some exchanges and there seems to be no end yet on sight for the rise of its value. Some are predicting that it can hit the $1700 level many days from now but correction at that level can set in and there would some adjustments in value.
I am wondering what are the contributing factors for this continuing rally? Please share your ideas for the enlightenment and guidance of some readers (including me).
Do you have any analysis to back up your statement? Please post any chart to show us what youre thinking and some fundamental analysis would be very helpful too. Sharing should go both ways. |
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Do they still do not allow BTC or Ether withdrawals? I know fiat is out of the question ATM but is crypto moving out possible?
Cause if fiat is the only issue, that s a banking problem. If crypto s locked down as well, that s clear insolvency.
Why use the word "still"? Moving crypto in or out has never been a problem. The only thing you can't withdraw or deposit is fiat (unless you count USDT). Cause I was told crypto does not work either. If what you say is true, then there s no need to compare them to Mt.Gox. Having liquidity issues and having issues with banks not cooperating and not supporting crypto projects re completely different issues. Lets hope they resolve these issues soon. I've never seen anyone say crypto doesn't work. They even stated that crypto is not and will not be an issue (nor have I had one). The entire situation is just dealing with a bank. They still have all the USD, they just need a bank to allow them to send/receive again. Think of it like them holding everyone's fiat in cash -- they have it, they just need a way to move it. Are there any more updates on their banking situation? Is Bitfinex going to move the funds to a new bank? Do they even have a new bank ready to accept them as a client? Its taking too long if the problem is a simple banking problem. Maybe someone should contact the Taiwanese bank to see if Bitfinex's account is frozen. |
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So you basically confirm that any fiat currency, maybe, only apart from the major ones that are universally accepted (like the US dollar) are not real ones from a view-point of someone to whom they are of no use. In this way, they are not real currencies, and the whole issue can be happily reduced to what someone thinks about a specific currency (more specifically, whether he can pay taxes with it or not, as per your reasoning). If so, how Bitcoin is different from all these other "unreal" currencies then?
Note that for a Kenyan merchant it is of no importance if someone can pay taxes somewhere with the Japanese Yen
Up to some extent, yes the Japanese Yen will always be useless for a guy in Kenya. But imagine this. If the Kenyan government start accepting Japanese Yen as payment for their people's taxes then everything about it changes. Its like a license for everybody in Kenya to start accepting it And what does it change in respect to your original claim? Namely, that Bitcoin is not a currency since it is not accepted as a legal tender anywhere if other currencies are not accepted either (apart from their home countries, of course). Indeed, if the Japanese Yen is adopted by Kenyan government for payment of taxes, it will become quite useful in Kenya, but I could just as well say that the same is equally applicable to Bitcoin. In fact, the chances of some government (like that of Kenya) to accept Bitcoin seem to be a lot higher than accepting the Japanese Yen since the latter is one of many other fiat currencies out there while Bitcoin is unique (even among cryptocurrencies). Strictly speaking, the Japanese Yen is one of the major currencies along with the US dollar, British pound, Swiss franc and Euro Yeah the same situation with the guy in Kenya who wont accept Japanese Yen as payment because he cant pay his taxes are quite often cant buy anything with them in his country. People could choose to accept something like BTC because its a novelty but think about if its useful for an ordinary store in your country. Its better to accept the local currency I think an analogy with gold would be better here Gold is not a legal tender anywhere in the world unless we talk about local gold coins accepted at their face value (i.e. way below there real worth). It is considered as money even less than Bitcoin. Gold is recognized everywhere in the world, though it is still not very useful for daily expenses (just like Bitcoin as such). But you can still exchange it for local currency since it is valued across borders. Bitcoin is in the category of things universally valued, and many countries have exchanges that will allow you to convert your bitcoins to local currencies without much ado With gold its still a maybe. Maybe your small mom and pop store will accept your gold and bear with the conversion costs and the labor of going somewhere to exchnage them from you. But if you go to a gas station do you think theyll accept your gold? Maybe they will only because its stable and have been used as a store of value for thousands of years. Bitcoin cant claim the same. |
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Not really...
Mt Gox was THE most popular and viewed as the safest and reliable exchange that was in the bitcoin world back in 2012-2013. Nobody ever could have predicted that Mt Gox was going to crash - it all seemed to function smoothly a few months before.
I first got into Bitcoin in early/mid 2013. At that point Gox was still touted as the go to place. After five minutes of googling I discovered the following - In a far off land, check. Completely unregulated, check. Previously hacked, check. Passwords showing up in the browser, check. Legal problems, check. Run by some incomprehensible weirdo on a beach ball, check. it was perfectly obvious to me that it was a dangerous shit hole so I never went anywhere near it. You would have to have been stunningly dim to trust it. And I'm not saying that with the luxury of hindsight. I remember when it first started to really look like it was dying. People were saying it was too big to fail. It was still a handful of assholes in a rented office. My feeling that Bitcoiners don't have much to do with the real world persists to this day. Obviously there was little or no alternative for a long time and Bitcoin wouldn't be where it is without it, but I still went straight to Localbitcoins and stayed there. And I find it pretty depressing that somewhere as shady as BFX still plays a major role to this day. It should be gone by now. I think comparing BFX to Gox is a little unfair. Are there some similarities? Sure. But this is the crypto realm -- there are GOING to be similarities, no matter what site you look at. Gox went down because they were insolvent. BFX (at least if their word is correct) is not. Not to mention you can still deposit/withdraw BTC and other cryptos without issue. Yeah it might be a little bit unfair to compare Bitfinex with Mtgox but the sting of losing your money because you fully trusted Bitfinex is very the same and very comparable to the sting youll feel losing your money somewhere else. |
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I think to create a faucet site would be great idea to you. With commercial and good promotion in can bring you really good money. And you can create payment for users every 24 hours which is normal for many faucets alike. But for that you have to have skills in site's making or to invest in that business to some one to make it instead of you.
Creating faucet site with high rate faucet and earning with ads on it ,is a really good idea. Google adsense and other ad services can give you a lot of profit if you have good traffic and ranking of your site. You do not need skills for this business as you can hire a developer if you have money with you. Money is the major factor in starting a business. If only it were that easy. Youre giving him bad advice. In case you didnt notice, cryptocurrency faucets have been out of vogue for 3 or maybe 4 years now. |
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I think those people who tried destroying the bitcoin are those scammer competitors of bitcoin. They want their own to have many clients so that they are trying to destroy bitcoin for them to get the clients of bitcoin. Bitcoin is quite successful nowadays that's why there are many that are envy to bitcoin so they are trying to do things to destroy bitcoin.
You are totally missing the point here... try reading the OP's link and see what he is doing. jonald_fyookball is supposedly one of the paid BU shills on this forum and this whole post is a stab at Bitcoin Core team. The attack and finger pointing will not stop until this whole thing are resolved and one of the sides triumph over the other.  It doesnt end there. Gavin Andersen, Roger Ver and the rest of them wont stop until they get what they want. They will always be around just to be around and continue to destabilize the accepted order because they have this need to have people follow them. |
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Well, exchanges are always risky to keep your money on. They do seem a lot more reliable than Mt. Gox though. Not really... Mt Gox was THE most popular and viewed as the safest and reliable exchange that was in the bitcoin world back in 2012-2013. Nobody ever could have predicted that Mt Gox was going to crash - it all seemed to function smoothly a few months before. At least they are not blocking bitcoin withdrawals, if they did that would have basically been the end. Still though you have to pay a premium to get your bitcoin withdrawn because the price is heavily inflated. Although I have to add that they claim to have retained full liquidity and there are no issues with the funds themselves - they claim that the funds are in their full possession instead of in Mt. Gox's case they claimed to be hacked. So there's good news for the Bitfinex bitcoin holders out there - although it really depends on whether you believe them or not. Heres an interesting story line to think about. What if Bitfinex was handed a lawsuit by the Taiwanese government because it claims that the exchange broke AML laws and theyre running an illegal money processor? That would give us another Gox-like situation, I expect. |
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