To anyone who has working eyes and brains, it should be clear now that today, the only important factor for success of a cryptocoin (or a non-cryptocoin like XRP) is, that it looks cheap. Just go on coinmarketcap; circulation upside down. Result: higher supply coins get all the profit. Cardano, XLM, XRP, Iota, et cetera. The reason for this is: in the early days crypto was mainly used by smart people, and smart people understand that something that is rare, should cost more than something that is abundant. But stupid people (or inexperienced kids) only look at price. It is only too human. Now crypto is getting mainstream, average IQ has dropped like an upside-down chart of XRP or XLM. https://www.ccn.com/south-korean-students-flock-to-cryptocurrency-despite-establishments-warnings/
Young people are gravitating to altcoins that trade at lower values than bitcoin, according to analystsOnly solution is splitting. Stocks do it all the time. I propose a hardfork, 1 BTC (old) = 1000 BTC (new)  It would do more for the success of Bitcoin, than Segwit and all the other shit combined, just this one thing! It would also make it more practical for smaller payments.... I will disagree with you on the bold part of your message in the following ways 1. You don't have to go on the insultive side in trying to pass your message across as you can do in a well matured way than going that route of insulting as if you are the most intelligent in the whole community. 2. The factor you noted as the only important in the success of a crypto coin is being cheap is grossly wrong because a lot of coin way below certain amount gets interest lost which then leads to it being delisted from several exchange sites. Beyond being cheap other factors are very key. 3. People who only look that the price should not be categorised as being stupid rather inexperienced as you have used because whether we like it or not they have contributed to the growth of bitcoin and concluding to move to other coins because its cheap, that is not the sole purpose they are actually doing it with the hope that it will be more valuable tomorrow in which they can then make maximum profit. |
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Paid in tokens, after ICO, escrow
Telegram: Jiri Marsicek
1. Why do you need a legendary account to endorse the campaign? A Hero account can do the same job as well. 2. Provide some clarification about your ICO so the community knows that there is no fishy behaviour involved here. 3. Your telegram ID is incorrect. hehe  u want a piece of the pie ^.^ Lol. If Op knew he actually does not need a legendary to do that because it won't even change anything as to the boost he expected because its coming from a legendary member who will put a disclaimer that " he is only helping to post the ANN thread, kindly direct your question to another person" since he won't want to ruin his account because of that in case it turned into scam except he is a member of the team from the beginning. More so, I would prefer be more open to project announced by a newbie who has adequate knowledge and ready to defend everything he believes in than the case of the former. Thankfully, newbies are now allowed to post images now on the payment of certain fees to the forum |
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If you are not Korean then you cannot sign up for Korean exchange. Recently they passed rules which do not allow non citizens to trade on Korean based exchanges. The OP is looking for someone which an exchange account willing to sell to him to split the arbitrage. I have seen this split as large as 20% between Youbit etc and Coinbase/GDAX. The plan is to split the difference minus fees. At least I assume that is what the OP is looking for.
I think its better that way because the moment they open to everyone, it would have been infested with a lot of people looking to take money of the economy and the arbitrage would have been eroded. But come to think of it, I think the Korean market are trying to isolate the crypto market to and establish their dominance in the industry because setting an arbitrage to have been high as that, it means that price can only move towards that direction and not lower which is indirectly controlling the price and that is what I will agree when its being referred to as whales. |
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That is old news. People have already explained that China has some major power plants in locals that do not attract so many industries so it is great for the country put some Bitcoin Farms there.
Its actually not an old news because the article was published just yesterday on the website. This can be seen as a good thing for a number of reasons, firstly it reduces the energy being used to mine bitcoin which is good for the environment, secondly it can start to cut in to China's monopoly when it comes to mining bitcoin. I have always maintained that China is not done with bitcoin at least not when the majority of the mining activities is being carried in that part of the world and that is one major part of bitcoin that is key in either making more bitcoin to the market, or even ensuring transactions are carried out as at when due. The fact is mandating locals to regulate the use of electricity is just a step to what they are intending to do because I am sure a lot of miners would still be able to cover the cost of the electricity and the real advantage of China is really not the electricity but the natural environment which they have advantage over. In essence, by the time this option did not work, their end game would be banning it all together just like they did for ICOs and exchange sites. |
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What if Bitcoin started acting more like a real currency, becoming more stable on the $14000 to $15000 level without veering too much away from it. Would you support that kind of stability? Would that make Bitcoin a better store of value for you?
Would you buy more Bitcoin?
Personally, I wont hold for too long when it is confirmed that price will not go beyond certain point and eventually this is what will happen in the long run when the penetration of bitcoin would have reached a point where everybody now holds and uses it by then, only major events will cause shift in price level. But that does not mean bitcoin would thereafter be useless, it would mean it would then function as measure of value and and medium of exchange rather than store of value which is mostly used for in today's world since it expected to increase in other to generate more income. However, this also comes with its own advantage because it then mean a lot of organisations, credit rating agencies, multi-nationals, insurance houses etc can then rely on it to make their own financial decision since volatility is to the barest minimum. |
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So I opened CMC for a moment, just like half an hour ago, and EVERYTHING was red. XRP dropped like 6%, and all the other coins were also down a bit, except for LTC (which rose a few percent).
Then, a few minutes later, it was all over, and the prices right now seem to be going back to normal...
I don't really know what happened here, and I think it could be a good learning chance for me.
So my questions:
(1) What does it mean when stuff like this happens for a brief moment?
(2) Why were all coins (pretty much all) on CMC impacted and turned red for a few minutes?
Thanks.
The earlier you understand that you cannot always have the answers, the better because quite a lot of things will happen even in the crypto world that you just have to accept and find a way to make the best out of it because even if you know the answer, there is nothing you can do about changing the situation at hand. What happen is just the generally accepted answers which is supply overshadowing demand and obeying the law of basic economics, when that happen, price is surely to crash which sometimes could be uniform across the market or sometime there could be some isolated cases. The secret to those who wins and lose in the crypto world, is knowing the right time to seize the moments because it will surely presents itself. |
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Ghana invests 1% of its reserves in BitcoinThe executive director of a large holding company in Ghana called on the central bank to invest one percent of its reserves in Bitcoin.In an interview with Joy Business, Papa-Wassa Shefi Ndoum - vice president of Groupe Nduom - said that Bitcoin has grown so much that central banks can no longer ignore its precedents as a global reserve asset. Referring to reports that predict that the US dollar will decline relative to other reserve currencies in 2018, Ndoum said that African central banks, such as the Bank of Ghana, should consider buying a small amount of Bitcoin while it is at a relatively low level compared with the record price in December last year. More
This is a misleading topic as it was a suggestion and not a confirmation of what the Ghanaian authorities are willing to do as you have represented in the title. Anybody can express an opinion based on the way they see it as the right one. And government in its own capacity does not work that way because a lot of factors are condsidered before even touching the national purse which in this case its reserves which does not belong to anybody but the entire populace. In a democratic setting to spend a dime for the purse of government itself deserves some amount of lobbying and acceptance from the country's legislative house not to talk of investing it in something as volatile as crypto currency. I dont see that happening any time soon. |
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I purchased some bitcoins when I was working and living in the US, with my US-earned US dollars, through Coinbase, which at the time accepted my US bank account without questions.
Later Coinbase changed their policy and asked me for ID. Not being a US citizen, I couldn't link back my US bank account and had to link my French account instead. So now the easiest way if I want to sell is to sell through Coinbase for Euros in France.
In this case, should I declare profits in the US or in France? Or do I get to choose?
If I sell in France but declare in the US, can I get in trouble in France? Or am I fine as it was legit? Am I better off trying to keep it all in the US by using other exchanges, even if it means more risky trades? (I already had problems using localbitcoins).
I think based on the explanation, you will declare your tax in France. There is need to look into the tax laws because there is always allowance for people who came visiting and even people who are expatriate in the country to pay their taxes and its usually a number of days you have to stay in the country before you are deemed to pay your taxes in that country. Over here, you have to stay minimum of 183 days in the country to pay your taxes and because you were able to link your France account, then where you earn the money suffices. Another way around is to seek expert opinion on double taxation rules where countries sign memorandum to protect those who have to pay taxes in two countries. In this case, if you have paid taxes before, you will pay lesser tax in where you are currently and you then share your taxes either way you wont be punished in any of the countries because you did the right thing by paying. |
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Over the past few months, U.S. regulators and appointed lawmakers have been researching and drafting regulatory guidelines for digital assets like bitcoin. Last year the Colorado Democrat Jared Polis and Arizona Republican David Schweikert initiated the Congressional Blockchain Caucus. The caucus was created to help bureaucrats develop regulatory policies towards cryptocurrencies and their blockchain networks. Both Schweikert and Polis established the Cryptocurrency Tax Fairness Act, while other U.S. lawmakers have been also drafting legislative rules for digital assets.
According to a recent report, cryptocurrency advocacy among elected politicians concerns members of the Sunlight Foundation, a government transparency think-tank, the Office of Government Ethics, and other transparency groups.
“Whether a member of Congress has holdings of bitcoin is relevant to our understanding of where someone’s interests might lie,” Alex Howard the Sunlight Foundation’s deputy director explains in an interview.
Way off-topic, but you're plagiarizing articles without linking the source. You've done this with every post you've made since joining the forums. The mods frown upon that here in the forums, so for future reference, you should really link the source of your article. Otherwise, it appears like you're trying to pass it off as your own. For reference, the article that OP has plagiarized can be found here: https://news.bitcoin.com/drafting-laws-and-hodling-u-s-congress-discusses-cryptocurrency-disclosure/There's much more than what OP has posted, so go get the full context by clicking on the link. I am really happy about the progress the discussion has made from when I read about it last year because there is need for direction especially in the US from what I have read about how they were being taxed at every trade made and some other things that intends to frustrate every activities that aids the penetration of crypto currency but with the law its expected to look at grey areas, regulate the excesses of those saddled with the responsibility of managing it and the fact that its going to be made public will mean we all know about it. Away from there, its also going to spread to other countries who have the mind of regulating bitcoin for them to take a clue from that of the US. |
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He probably didn't know but ignorance is not an excuse in law. That single thing he/she did, could get him banned from the forum because that is an outright plagiarism which is seriously frowned at by mods. Its really a long way that bitcoin has come and kudos needs to be given to those who were there since the beginning and believed in the dream even when its was extremely cheap to get bitcoin that they had no idea that bitcoin would be this valuable. They remained resilient in the face of difficulties for a lot of us to even meet something. I hope that with the attention that bitcoin has garnered, we can celebrate next year. Happy Anniversary Everyone. |
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I am disappointed. I tried to wire money to Coinbase today from my bank. They put the wire through and then a couple hours later called me to say it was denied. The company that does the transfers kicked it out because it was crypto currency related. I don’t see what it even matters to them. All they had to do was transfer the money in my account. I can only guess that they feel like it’s a gateway for illegal activity or something like that. It just shows we have a little ways to go yet before BTC is really accepted.
Gradually they are tightening every avenue that seems to make transaction with crypto frustrating with new rules happening at every moment. I guess they felt the KYCs is really not deterring people from patronising the crypto world and the next thing is to frustrate every activities. If they cannot buy using fiat or convert to their fiat, we can then be sure they will be discouraged because that will mean whetever coin they hold would be useless since they cannot even use it to buy the basic thing they want to use. This is sure the thinking of the formulators of policies and the regulators implementing such. Unfortunately, all the rules and policies can only slow things down and not eradicate because I would then start thinking of alternatives of getting my activities done either through the bank in another way or even boycotting the entire banking system and still get things done. A door closes opens opportunities for more to open. |
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Lets Please not keep this quiet Because Every Single Trade Done By someone living in the
United States Is Now Taxable Does But If you Live outside the United States your
Safe guarded from this.This is Not Fair to US Citizens
There is absolutely nothing you can do about the current situation because from the look of it, it means you are being punished for engaging in bitcoin while I agree that bitcoin should be taxed, but not at the point of trade but at the point of conversion to fiat which is when the profit is really being made because other than that, you might be losing at the end of the day by the time you carried out a trade at the point there is increase in price and you are charged based on that. Maybe the following day you needed to convert to fiat and price drops it then mean you have paid tax on your unearned income which to me is punishment of the highest order. The only thing I can see a way out is to push for the review of the procedure that this is being done currently and make it more favorable to people but stopping the taxation is what I don't see happening. |
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Soon, i will be recieving my diploma for financial management {3mos from now(april 2018)}. currently im taking my OJT, Im starting to wonder how can I or what job can i apply my knowledge in bitcoin and crypto. I love bitcoin, theres so many reasons why, profit included but the main reason is because of its idea. Decentralization, so utilizing my knowledge in financial mngmt. I want to be able to spread awareness, to help mass adaptation. BUT i dont know where to start. Considerng i want to earn Huge money. Can someone give me idea, what should i do and what should i learn?  A lot of functions like people in the management science cannot really function directly in bitcoin but no knowledge is actually a waste. Where I see you function is handling the finance part of a project most developers only know how to code but don't know how to go about the preparation of budget or even the writing of proposals, preparation of the financials and that is where you come in based on your knowledge of finance. On the areas of propagating and spreading the awareness of bitcoin, that is something that should be easy to do depending on the law regulating crypto in your country. If the law is more relaxed, all you need to do is become an entrepreneur, organize seminars for people and engage in the buying and selling of bitcoin to your fiat. |
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There was a recent thread with a lot of good information about US taxes as they relate to fork coins (like Bitcoin Cash). For tax purposes, is there any difference between the Bitcoin Cash "airdrop" and an airdrop of native coins? For example, BitSend has a weekly airdrop to forum posters of 10 BSD. Are we supposed to use the USD cost basis of that 10 BSD each week (last week = $13.50) and call it "other income" on our tax return? That means that even if we opt to hodl the coins long term, we have to pay taxes on receipt, right? The forks feel more like "stock splits." This feels more like a giveaway or something. Is there any way that these could be deemed "gifts" under the tax code? The short answer to this question is yes but on a more explanatory note based on my understanding of the tax laws of the country I am residing is that so far you are getting some income for the disposal of anything, then its subjected to tax except it is expressly exempted from tax by the applicable tax law. Here, the only thing not subjected to tax is what you acquire by way of gift and disposed by way of gift aside that nothing else and in the case of airdrop, it can be interpreted to be acquired by way of gift but surely not disposed by way of gift because some form of returns is coming in by exchanging it on an exchange site but only at the point of sale and not at the point of valuation. |
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Hi, Is bitcoin legal in Bangladesh?
As, I am new here, please advise me, how to start.
No, Bitcoin is not legal in your country. I also read about it at this link https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory and it clearly states it is illegal to use bitcoin in Bangladesh .So, I will advice you should only read about this technology and should not invest or indulge in any type of trading related to bitcoin. There are few links which might tell you that even bitcoin mining is legal in Bangladesh but I think even if you earn bitcoin in any ways, there might be no ways for you using it to convert in local currency. But you can use bitcoin to buy stuff online but that too involves high risk as if you get caught you may need to face serious punishment. I really don't know that there is a site like this that keeps track of the unfolding events that happens in every country and even update it to the latest events and recent publications. All I just do in using bitcoin is use it and assume all is well without knowing that series of discussion has been done on the subject matter by regulatory authorities thankfully, there is no express position from my country yet. I think for Op since the government have stated it expressly that they don't want, the next is for him to study the implementation and the crackdown because there is difference between laws on paper and its implementation. If the implementation can accommodate your use without gathering any attention, then go ahead if not, I suggest you stay out of it. |
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" According to the Financial Times, Sergei Glazev, an economic adviser to the president, told a government meeting that the cryptocurrency would serve as a "useful tool" to evade western economic sanctions."
Why cryptocurrency would be a "useful tool" for Russia evade western economic sanction?
If only you knew the effect to security challenge if Western countries decided not to sell weapons to countries that needs it the most, or they decide to just divert it to the rebels against the current government of a country? It can tear the country apart. That's just on the basis of security. Now compare it to the effect in the case of trade embargo, trade sanctions as ordinary citizens we might not know the effect but the people who are saddled with the responsibility of ensuring the sanity of the society will have to go extra mile in ensuring the mitigating effect of such sanctions, is not devastating. The primary reason for that is just control, today, the Western nations all have nuclear weapons but would sanction other countries that wants to have one because they control the world market, they have the technology, nations keep their foreign reserves in their currencies etc. The moment that is taken away, all those sanctions are just speeches without any effect. |
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A lot of hope here and there of expectation of intended and perceived right price for bitcoin by the end of January and we are moving to that end gradually today being the second day. What I am yet to see is we asking ourselves what are we going to do differently to push the price to that our preferred level. A prices are just mere wishes if not backed by action because price increase is not magic that someone somewhere just decide to tune the price to certain position as he so wishes but by the collective actions of some set of people.
A lot of time, we just want to put money in bitcoin or acquire some, then sleep waiting for it to increase and saying the cabals, the whales, or Roger Ver caused the whole thing without even lifting a finger.
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When I started my career from Bittrex, I thought things would be very straight forward, but due to lack of knowledge and experience, it was difficult to make good money. That’s where Average Signals service comes in being an absolute delight, it’s having astonishing accuracy rate to have us making money with quite ease on Bittrex and Poloniex. We can join them through Telegram, so fairly simple. And can kick start profit making for us in simplest way possible. The way people even call money these days makes those who work for the major hours of the day want to commit suicide because it just seems too easy that they are stressing their own effort over. Nothing is that simple without its risk. If its about trading which I am sure Op is promoting, its pump and dump group which is more or less making money for the individual who owns the group and those who are close to him. If its about investment, cloud mining or anything of sort, its a ponzi scheme which is another surest way to lose the money faster that the above course of action. If its about ICO, its another set of developers wanting to get rich quick with less effort. If its now a gambling site, or exchange sites, they are about to get hacked quickly without explanation to investors. In short, if it sound too nice, its scam. |
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People will only pay you when they realise that you can add value and more so they are not paying you as a person, they are only paying for the value they are receiving which comes to what Op is trying to say here. You never said anything about the skills you possess neither do you make mention of the special deliverable you can meet but signature space which everyone on the forum by default has his or her own without having to do anything or pay for it. If you want someone to start taking you serious, that's the area you need to start developing. My signature space is available for rent. If you want to give me a job then Pm me on telegram
@Rabby637
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What is more efficient? Be a programmer than gives you huge salaries for every project and codes? Or a Bitcoin trader, earner, etc.?
Who says the two cannot go together and even achieve more returns by than focusing on any of the two. A lot of people on the forum who are even professionals in their fields by virtue of their contributions to specific topic, and even offline that I know whether pharmacist, accountants, lawyers or even doctors not to talk of the abundance of computer scientists and engineers have been able to function very well either in bitcoin related activities and their chosen path of careers. This has made them to live well off than they would if concentrating on any of the two. Conclusively, you can actually be more efficient in any of the two options you have chosen for yourself. |
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