Let's Bitcoin takes off. Say you lived in the US and had an online service that dealt in the equivalent of ~20,000 USD or more income for you (personally). What are the laws for income tax on a currency like this? Can you get in trouble with the IRS by simply having tons of BTC that the market values at (currently) almost 5$ per BTC?
I think it is not. Bitcoin is decentralized which means it is not under any government. So the income that its users and investors won,'t be taxed if I'm not mistaken. But if it is legal to a certain country and if it will be used as a currency there's a huge probability that there'll be tax just like in the trgular currency or fiat. |
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Should I Invest In Bitcoin?
If you're looking for a huge profit, well, you should be investing to Bitcoin since its market value is continuously increasing. As it is getting more expensive, more profit are to its investors. Investing to Bitcoin will yield to good income. And I think it is less risky than than other investments. Investing to Bitcoin is a good idea for sure. |
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Indeed, that's true. Bitcoin reaching the value of 10 k this year seems to be possible knowing that there'll be a hardfork in November which is also a factor that would make this thing happen especially if it will br a success just like the previous one. If it will be successful, Bitcoin's market value will be more expensive and will definitely go skyrocket before this year end. |
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I have been seeing Bitcoins' price rising with a stability in its growth, but due to the higher mining fee that is being levied on transactions these days, big businesses are now moving their funds towards alts and taking advantage with their least fees as well as shaping a completely new economy in the trends of altcoin markets. Do you think this may harm Bitcoin's dignity and open up a chance in real for alts to rise?
Yes. In fact, recently, PBT had a higher market value than Bitcoin which shows that altcoins has a chance. Both altcoin and Bitcoin are only dependent with each of its demand in the market. So it is really not impossible. Indeed Bitcoin has a much larger market value compared to most of the altcoins but the rate of the increase on their market value is way higher than Bitcoin, since altcoins are known for short term investment. |
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People always said that ETH will be the next Bitcoin. Since Bitcoin is having major updates, will ETH will launch into the moon, soon?
I prefer Etherium for short term investments and Bitcoin for long term investments. Both are considered to be good as an investment or asset because the profit are huge from investing into each of it. I prefer Bitcoin more because of its much larger market value compared to ETH since its market price increases and as it increase, the profit also increases. |
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I believe that they're popular mainly because well it was the first of all cryptocurrencies to be made. Honestly most of the other coins are scams and greedy ways that the developers make money. The only other coin I can think of that isn't a scam are dogecoins! What do you think?
If I'm not mistaken, Bitcoin is not the first cryptocurrency. But it is considered as the top cryptocurrency for its large market value, community, market cap and high market demand. Bitcoin is known for its best at long term investment. As its market value is increasing, the profit that its investors and users are earning will also increase. And I think, the profit is what makes Bitcoin more popular. |
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I feel bad for all the noobs that panic selled at the controlled dump of the other day with the china ban news. Its obvious whales wanted to get more cheap btc and shaked all the idiots out with panic, now we are back to 700+ and looking strong. Hold.
They were just afraid that it will be coninuous without knowing that Bitcoin still, has a large community that will make the market demand of Bitcoin that positively affects its value. Its market demand remained high after what happened that make Bitcoin to recover from the backdrop that you've mentioned. Those who sold lose the profit and those who held and are still holding will earn huge profit in the future as its value continue rising. |
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Just received reminder bitcoin dropped a lot, the price of the last week is very unstable, leading to other competing currencies continued to fall, there is no bottom line of that kind of fall, I would like to ask you tycoons on how to look at the future market?
Bitcoin is decentralized and is volatile so change on its price, everytime, should not be surprising. Fluctuations are always expected in cryptocurrency, it can only be stable whether it will be highly stable or not but it won't stay on the same price for a long period of time. Looking in the future of Bitcoin, I think its market value will be more expensive in the next years to come and maybe before this year end, it will break the 5000$- mark barrier since its market value is continuously rising. |
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Do we still need to pay income tax if we earn through trading/investing in Bitcoin or Altcoins??  I don't think so. Altcoin and Bitcoin are decentralized and is an open source system meaning, they are both not under the government. I think we are not and there's no need to pay income tax since the source of income is not under the government's control. But still, we are paying tax when we buy things using fiat converted from Bitcoin or altcoin or simply, the profit from the investment in cryptos. So technically, you are still paying tax but not specifically income tax. |
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I'm curious, I know there are a lot of traders on this forum.
But
1. How many of you folks are investing in and holding altcoins?
and
2. Which ones are they?
The altcoin that I have, currently, are ETH and PBT. And I'm also interested on buying more or investing with these two. I believe that these two are good as an investment and in fact PBT is already having a larger price than Bitcoin. while ETH is oftenly used in ICOs which makes its market value and demand high. I think investing with these altcoins will yield to huge profit in the future. |
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Summer 2012. Diablo 3. I bought in game gold with bitcoin @ $3/btc - Spent 90 coins for 500 million in game gold.
IGG = 35 cents / million now.
I lose.
/wrist
Most users of Bitcoin has the same regret as yours. In my case, it is somehow related. There are continuous dumps happened and to cut my loss, I sell all of my Bitcoin and converted into Fiat wtihout knowing that it will be able to recover with the backdrops. I sold my Bitcoin when it is priced at 3300 and currently it is priced at 4200 and still increasing. But now, I am planning to again, invest in Bitcoin and would use what I've learned which is to hold during downfalls. |
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Bitcoin is a very fast booming and rising currency and I have been hearing about there being a physical bitcoin I mean in the form of a metal. Now if this is possible I would like to know if bitcoin would be a generally accepted means of payment in the next years to come and what are the possibilities of other currencies meeting it( I mean in demand and supply)
It is possible that in the future Bitcoin will be accepted as a payment. Currently, it is already accepted in countries wherein it is already legal as a currency such that it is allowed to be used to buy thing in those countries. And as the users of Bitcoin is getting higher, the possibility that it will be legal to most countries and be used in regular transactions is becoming bigger. Also, I didn't heard of Bitcoin having a physical form but it won't be a hindrance for bitcoin to be used in payments. |
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More and more and more actors from the NYC agreement are dropping like flies. Now we have BTCC out of the agreement. Along with f2pool, this is a big chunk of hashrate that segwit2x lost. Bitfury will also potentially not be mining segwit2x. This would be the nail in the coffin, not even considering Bitcoin Core 0.15 is comming out soon which everyone will upgrade to.
With segwit2x out of the picture, we can hit $10,000 easily during 2018, so hold on to your coins and stop falling for the government ban nonsense.
Maybe it will be achieved before the year of 2018 ends. Mentioned about segwit2x and hardfork. There'll be a hardfork in the month of November and if it will be successful just like what happened last August, it will be one of the factors that will make the market value of Bitcoin more expwnsive. And for the nexy year, I think there'll be another one. And since the demand is now increasing, it is really possible for Bitcoin to be more expensive on following years to come. |
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For me, it is bad. China is a big loss because it is one of the biggest Bitcoin investor. It could have help to make the market value of Bitcoin more. Fortunately, Bitcoin is able to make its way back to 4000$ after the backdrop resulted when China banned ICOs and exchanges. Hoping that the increase on its value will continue for the next years to come. Bitcoin still, without China, can be a successful cryptocurrency but it is just that China is still a loss for this growing community. |
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What are the chances of living in a world with no actual money ?  In my opinion, No. It's a big no. Regular currency or fiat is used by all people through decades. Cryptocurrency which don't have a physical value and stable market value can nit replace currencies with physical and stable value. Also, Both thing should co-exist since we are using fiat to Buy Bitcoin aside from earning it in campaigns. |
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I was just wondering if there were and particular websites or bloggers out there that you follow for finding out about good ICOs. I personally manually vet each and every ICO I come across but if there were some people I could follow that would help filter out the crap, that would be a massive time saver.
Thanks.
I read articles about ICOs. I also check threads in this forum regarding with the ICO that got me interested. Observation is also helpful, observe if the ICO is timely or speculate if it will be successful. Every ICO is good it is just that the success of an ICO depends if it will be funded by investors. Also be patient, not all ICOs will be successful. |
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Can Bitcoin Prices Reach $5,000 Again Without China?  That's possible I think. As we can currently see, Bitcoin is slowly making its way up again from the major dump in Bitcoin's market value but it is able to recover. It is downed to 3300 and is now again in 4200 and that's something to look forward with. There will be hardfork in November and if that fork will be successful, it will make Bitcoin having a price of 6000 by the end of this year, more possible without China. |
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bitcoin is five years time in my opinion there will be a lot of hard forks from the original bitcoin blockchain and the value of bitcoin would increase by 300 percent today's price. if transaction's speed and price remains the same, bitcoin's not improving and maybe the price wont grow that much
Five years from now, I think the market value of Bitcoin will be more exoensive due to the market demand. As we can see as of this moment, its demand is already high, and with that length of time, we could expect more from Bitcoin. Also, it might be legal to more countries by that time, and will be used on daily transactions more. So to sum it up, Bitcoin in five years, in my opinion, will be more successful than it currently is. |
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Bitcoin just topped $4400 for the first time since in over 3 weeks and has now erased all of the plunge losses from Jamie Dimon's "it's a fraud" and China's shuttering of all local exchanges. It didn't take long for the world of crypto-currencies to shrug off Jamie Dimon's self-tighteous denigration of the decentralized currency that could directly 'disrupt' his cash cow businesses; and furthermore, as The South China Morning Post reports, China's bitcoin market alive and well as traders defy crackdown.
Although the crackdown has dissuaded large swathes of less-experienced investors from participating in the trade, market participants point to the limits Chinese regulators ultimately face in controlling the industry, where many users are anonymous and difficult to track.
In the short-run, the crackdown has also created an arbitrage opportunity for investors, with the price of bitcoin in China now trading at a discount to overseas exchanges. http://www.zerohedge.com/news/2017-10-01/bitcoin-surges-above-4400-world-realizes-jamie-dimon-china-dont-matterIt became hard for Bitcoin to recover because of the massive downfall that happened. Fortunately, Bitcoin is slowly recovering and is now priced at 4200 from the price of 3300 when the value dropped. It is now expected that before this year end, it will be able to reach the 5000$ mark without China and if the Next hardfork will be successful reminding of the previous one that made the value of Bitcoin to go skyrocket. |
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Anyone bought drugs with bitcoin and what are you thought on the subject ?
i know i have used bitcoin to buy psilocybe cubensis thank you bitcoin i cold have not done this without you now i can trip watching corry & eastenders in the evening its such a sight.
I'm afraid that this thing is possible since users are allowed to use Bitcoin as they like because Bitcoin is decentralized. This is also one of the possible issues with digital currencies and if there'll be cases regarding with illegal activities such as this, the reputation of Bitcoin might be negatively affected as well as the demand that it is getting if countries will ban Bitcoin and kther cryptos. We, users, should be responsible as a way of support to Bitcoin and other cryptocurrency. |
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