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. |
|
|
|
Well, exchanges are always risky to keep your money on. They do seem a lot more reliable than Mt. Gox though. Theyre all reliable until the day they lock your money in and not allowing you to withdraw your own money. I dont think youre a client of Bitfinex. If you really have money there what you would be doing is to keep quiet and try to get your money out as fast as you can before they lock BTC withdrawals too. |
|
|
|
|
Its like a game of chicken. Who will give in first? The miners who invested a lot of money to support and secure the protocol or the developers who could move somewhere else after theyre done with BTC? One of them knows that the other cant play this game for long.
|
|
|
|
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 It is highly unlikely that any major government will ever go that route Since that would effectively mean creating competition for the local currency which these governments print. Why would they want that? By going that way, they will be shooting themselves in the foot. Though some minor governments (and especially those which are already using some foreign currency as a legal tender) may in fact accept Bitcoin as a legitimate payment for taxes provided its price stabilizes over long enough term (but no sooner than that) Yeah that was the point. I was trying to show where fiat gets its value from, and thats because governments accept them as payment for your dues. To be defined as real currency, BTC has to be accepted by the government for tax payments In fact, this is a shaky argument If not to say that it is a completely false one. There are over 100 fiat currencies in the world, and only a few are accepted as legal tender in more than one country. In general, one specific currency is accepted in only one country, namely, where this currency happens to be printed. So, according to your reasoning, any foreign currency is not a real one, right? You may claim, of course, that at least one country should accept a currency to be considered as "real" but if some tiny and utterly inconsequential government accepts Bitcoin as legal payment for taxes, what would it essentially change? Would it make Bitcoin into a "real" currency? That is why merchants dont accept the foreign currencies. Because its not worth anything to them. They cant pay their expenses with it nor their taxes. The need to convert it which is very tedious because some currncies need to go through the US dollar first. From the point of view of a merchant from Kenya, the Japanese Yen is something he can wipe his ass with 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. |
|
|
|
I am looking to buy 1 full member account here but want to know that its allowed here ? and anyone can recover account if he sold for me ?
Before I heard the staff and the trusted members who could you a red mark dont mind. Now they are rather strict because of all the spamming and the scamming going on in BCT. |
|
|
|
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 It is highly unlikely that any major government will ever go that route Since that would effectively mean creating competition for the local currency which these governments print. Why would they want that? By going that way, they will be shooting themselves in the foot. Though some minor governments (and especially those which are already using some foreign currency as a legal tender) may in fact accept Bitcoin as a legitimate payment for taxes provided its price stabilizes over long enough term (but no sooner than that) Yeah that was the point. I was trying to show where fiat gets its value from, and thats because governments accept them as payment for your dues. To be defined as real currency, BTC has to be accepted by the government for tax payments In fact, this is a shaky argument If not to say that it is a completely false one. There are over 100 fiat currencies in the world, and only a few are accepted as legal tender in more than one country. In general, one specific currency is accepted in only one country, namely, where this currency happens to be printed. So, according to your reasoning, any foreign currency is not a real one, right? You may claim, of course, that at least one country should accept a currency to be considered as "real" but if some tiny and utterly inconsequential government accepts Bitcoin as legal payment for taxes, what would it essentially change? Would it make Bitcoin into a "real" currency? That is why merchants dont accept the foreign currencies. Because its not worth anything to them. They cant pay their expenses with it nor their taxes. The need to convert it which is very tedious because some currencies need to go through the US dollar first. From the point of view of a merchant from Kenya, the Japanese Yen is something he can wipe his ass with. |
|
|
|
Seems like SegWit support is growing since the exposure of the BitMain backdoor. Now at over 42% since the last 100 blocks.
I think that is very encouraging. Wu and Ver are trying to hold Bitcoin hostage out of pure self-interest. But their smear campaign is crumbling, because they are now increasingly exposed as what they are: Malevolent scammers.
Let's activate SegWit and move on. Bitcoin's future is bright.
Im confident it will. BU is something like XT. Theyre both nothing but a nuisance and they use fear and making people think stuff will happen. Wheres Mike Hearn now? He predicted BTC will die this year right? |
|
|
|
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 It is highly unlikely that any major government will ever go that route Since that would effectively mean creating competition for the local currency which these governments print. Why would they want that? By going that way, they will be shooting themselves in the foot. Though some minor governments (and especially those which are already using some foreign currency as a legal tender) may in fact accept Bitcoin as a legitimate payment for taxes provided its price stabilizes over long enough term (but no sooner than that) Yeah that was the point. I was trying to show where fiat gets its value from, and thats because governments accept them as payment for your dues. To be defined as real currency, BTC has to be accepted by the government for tax payments. |
|
|
|
I am ready to invest in the purchase of real estate. This is always beneficial and relevant. It is best to choose a place in the city center, and then rent it out for an office. For this, I collect bitcoins
How do you collect all your Bitcoins to purchase you future real estate business? Do you use fiat to buy your BTC? So from where do you get your fiat, from your job? What is your job? I hope your main source of BTC is not your signature campaign. Maybe the best way for you is to get a loan from a bank. |
|
|
|
Quantum rep, when you said that your aim for the project is to bring institutional grade liquidity to cryptocurrency and digital asset markets, I want to ask how are you going to do that? Are you going to become market makers yourselves?
Yes, the funds collected from the sale of Quantum tokens will be used to make markets. What markets are you going to start in? BTC and fiat already have good liquid markets and other altcoins like LTC, ETH and DASH have good volume for how much the market demands. What other altcoins are you thinking of going into? |
|
|
|
https://coin.dance/blocksBitcoin Unlimited - 49.3% SegWit - 34.0% 8 MB Blocks - 0.7% BIP 100 - 1.4% Bitcoin is going to the moon once we start mining bigger blocks!! The community has demanded it and here we are! I guess even if Bitcoin will start to activate if it reaches 50% consensus the result will be the same since the exchanges have already declared that if in case of the split they will support the cor developers. The possibility of bitcoins value reaching to the moon is when BU and Core will not split but rather complement each other. The community is tired of bad news and we hope for a solution. Then this whole debacle will become one messy affair. If the exchanges list BU as the altcoin and the miners attack the BTC chain and kill it. What will happen now? Are we finally seeing the death of BTC, as we know it, coming? Probably there will still be one bitcoin just with bigger blocks. I sure do hope so on the part before you mentioned bigger blocks. It doesnt matter to me either way but a peaceful resolution is a better way than the potentially messy affair thats whats coming. |
|
|
|
l
The premium was up to $120 at its peak. The chief strategy guy of bitfinex said yesterday they will be allowing the 1 time USD withdraws in a week or so which should bring premium down further. Remember you can still deposit crypto but you cant get fiat in. If they do the 1 time withdraws confidence will return and i expect some people will take the punt and deposit crypto to sell for a premium.
I can't seem to find anything backing up what you are stating. Mind linking me to that statement? The statement's actually on their own site. It's in the message they sent a few days ago. Are you not actually reading what they say? Note: you have to click "I've read" or whatever to even access the site, so it'd behoove you to actually pay attention,  . Why is Bitfinex not trying to get the message across as far and wide as possible? This looks very doubtful. Maybe they either dont want a lot of people to know theyre allowing a one time fiat withdrawal or theyre not really sure if they can make it happen. Good point. It's not on their twitter account, and they haven't done an official blogpost on it: https://twitter.com/bitfinex?lang=enThen this raises a lot of doubts and concerns. When an exchange starts doing questionable things you know something is going on with them that we cant see. I will not be taken aback if the owners run away and hide with their customers' money. I mean whats new? They're regulated, they follow KYC/AML, and they've been transparent so far. I see zero issues. They have even promised everyone can withdraw the USD they have deposited, just won't be able to deposit more. It's not like they're allowing more deposits while talking about having issues. Ok lets give them some time to sort all their problems out. But how long should we wait until we consider that theres really something wrong? 6 months? 1 year? If they wait that long we could see many of their customers crying out scam. |
|
|
|
Now my main earnings come from the Internet. But I understand that this is risky. Therefore, I plan to open a business offline.
I want to open a cafe where you can spend bitcoins
Remember that it is not online source is risky, in every investments all of them are risky like the cafe that you are planning to do so. And that's a very good idea that you will have to accept bitcoins so that bitcoin users can simply go to your cafe and pay you with their bitcoins. For sure other cafe's near you will adopt it when they figured out that you have the payment method. That's competition, when your cafe accept bitcoin and other cafes do the same, it means that bitcoin will be more accepted so you will be easier to use bitcoin as the payment. The competition will be tough but if you are the only cafe that has that feature of method for accepting bitcoin. Maybe you can attract more crypto customers and those other customers that are curious with bitcoin will have a time to know how it can make them save a lot of time and effort for adopting this currency. What country are you from and why do you think there will be lots of crypto customers for his cafe to make it have the advantage against his competition in the cafe business? Im not here to judge you, so out with it, what country are you from? Im guessing youre from India or Bangladesh. Are there enough BTC users there to justify starting a cafe that accepts BTC? I would actually advice to not say that implementing bitcoin as a payment option will be something that may attract many new customers, the amount of people using crypto is really small right now, especially compared to the world population. I think that even in such a country like US or Great Britain something like that would not change a lot, it just seems like a stupid idea to start a shop/company that rely on bitcoin, unless you want to make it an online service or something. Paying with bitcoin on streets is still rare, the fees and confirmations make micropayments less attractive, for example I dont even use something like that. Yeah, sometimes I cant find a reason why they keep saying that a normal, offline shop would benefit a lot by accepting cryptocurrencies. Then the moment you ask them why they cant answer you and start ignoring you. |
|
|
|
|
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.
|
|
|
|
https://coin.dance/blocksBitcoin Unlimited - 49.3% SegWit - 34.0% 8 MB Blocks - 0.7% BIP 100 - 1.4% Bitcoin is going to the moon once we start mining bigger blocks!! The community has demanded it and here we are! I guess even if Bitcoin will start to activate if it reaches 50% consensus the result will be the same since the exchanges have already declared that if in case of the split they will support the cor developers. The possibility of bitcoins value reaching to the moon is when BU and Core will not split but rather complement each other. The community is tired of bad news and we hope for a solution. Then this whole debacle will become one messy affair. If the exchanges list BU as the altcoin and the miners attack the BTC chain and kill it. What will happen now? Are we finally seeing the death of BTC, as we know it, coming? |
|
|
|
|
It depends on what position youre in. Some want BTC to be defined as a currency so that it will become a legitimate and a valid form of money.
The courts at present arent ready to handle cases that involves BTC because the definition itself is so open to interpretation.
|
|
|
|
Now my main earnings come from the Internet. But I understand that this is risky. Therefore, I plan to open a business offline.
I want to open a cafe where you can spend bitcoins
Remember that it is not online source is risky, in every investments all of them are risky like the cafe that you are planning to do so. And that's a very good idea that you will have to accept bitcoins so that bitcoin users can simply go to your cafe and pay you with their bitcoins. For sure other cafe's near you will adopt it when they figured out that you have the payment method. That's competition, when your cafe accept bitcoin and other cafes do the same, it means that bitcoin will be more accepted so you will be easier to use bitcoin as the payment. The competition will be tough but if you are the only cafe that has that feature of method for accepting bitcoin. Maybe you can attract more crypto customers and those other customers that are curious with bitcoin will have a time to know how it can make them save a lot of time and effort for adopting this currency. What country are you from and why do you think there will be lots of crypto customers for his cafe to make it have the advantage against his competition in the cafe business? Im not here to judge you, so out with it, what country are you from? Im guessing youre from India or Bangladesh. Are there enough BTC users there to justify starting a cafe that accepts BTC? |
|
|
|
l
The premium was up to $120 at its peak. The chief strategy guy of bitfinex said yesterday they will be allowing the 1 time USD withdraws in a week or so which should bring premium down further. Remember you can still deposit crypto but you cant get fiat in. If they do the 1 time withdraws confidence will return and i expect some people will take the punt and deposit crypto to sell for a premium.
I can't seem to find anything backing up what you are stating. Mind linking me to that statement? The statement's actually on their own site. It's in the message they sent a few days ago. Are you not actually reading what they say? Note: you have to click "I've read" or whatever to even access the site, so it'd behoove you to actually pay attention, . Why is Bitfinex not trying to get the message across as far and wide as possible? This looks very doubtful. Maybe they either dont want a lot of people to know theyre allowing a one time fiat withdrawal or theyre not really sure if they can make it happen. Good point. It's not on their twitter account, and they haven't done an official blogpost on it: https://twitter.com/bitfinex?lang=enThen this raises a lot of doubts and concerns. When an exchange starts doing questionable things you know something is going on with them that we cant see. I will not be taken aback if the owners run away and hide with their customers' money. I mean whats new? |
|
|
|
Indeed Coinbase account is no longer offering paying the network fees unless you are making a transaction with another coinbase user. This changed a month ago along with other modifications which in my opinion make their service the worst. I would like to remind you about the problems they had with the IRS and their new verification process which require live webcam and on top of that, you don't even control your private keys. Go with GreenAddress If you need a web wallet, Electrum for desktop and Mycelium for Android/iOS. I second the GreenAddress suggestion. But blockchain.info is good enough for small amounts. Youre supposed to use small amounts for webwallets anyway and use an offline wallet to safely store your real BTC savings. |
|
|
|
Now my main earnings come from the Internet. But I understand that this is risky. Therefore, I plan to open a business offline.
I want to open a cafe where you can spend bitcoins
What country are you from and how big is your market in your country? I predict that you will have very little sales made paid in BTC. The biggest chunk of your sales will come from cash and credit cards making BTC not matter for your cafe. You can take BTC acceptance out and it will not affect your sales in anyway. It will be that negligent. |
|
|
|
|
Show Posts
