If Bitcoin became a "legal" currency then there would be a lot of laws put in place around it, and chances are it would be taxed in either a heavier or more aggressive manner than the "natural" fiat currency the government offers. They would aim to discourage use of Bitcoin, and thus heavier taxes or more fees associated with it (VAT, GST, similar taxes/fees) would probably be their main goal to get it out of the economy.
I do believe the taxes will be the main issue around use or enter into bitcoin world as well. Bitcoin be legal currency would allow people to invest into it, but the fact its decentralized and no entity responsible is and will always be a wall to be legalized. |
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Loaning a few million satoshis for a small profit.... You better just go ahead with your signature campaign and earn much more out of it with no risks involved.
Well in any type of loaning service that is going to be always risky at all. And it is going to be better if you are not going to have any debt from someone or loaning agency. Because we can't say that we are going to be able to pay our loans. Because that is why people are loaning just to pay again from their other debts. The problem is in the bitcoin world at least in BTCJam, the people used to steal your money and run with it and never paying back, even the A+ qualified users, so that is why I never bothered with loans. Btcjam since the begining had scammer inside, the bit rates were built into the begining for the most. There are some honest people there, but there is no sure they will repay you, thats why all similiar websites that allow people to get a loan and cashout without nothing to hold as colateral are a waste of time and money. I do like poloniex system as they dont allow anybody to take loans, and they cant cashout if the loan isnt paid. |
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My strong understanding for the term "BTC IS DEAD" is related to mining them. Yes BTC has been long dead for miners with no equipments to mine them as it is now very hard just to get 1 BTC even if you are in a mining pool. And that is according to my knowledge and experience in BTC, I don't if there are other meanings to it.
This logic is flawed since every ten minutes on average 12.5 bitcoins are mined. Someone is evidently mining them, and we know that these are mining pools that consist of individual miners. Thereby, Bitcoin mining is not dead, by any means or to any extent... But this doesn't mean that it might not be dead for you personally, of course Well knowing a lot hash is required to mine 1 btc, and its growing all days the hash required to mine 1 bitcoin. This makes bitcoin system works well, as less reward and bigger prize. Bitcoin mining still very active in fact the prediction to mine end at 2100 is because the big farmers keep with their hash and some are getting more. |
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Bitcoin is safe, but I really would not put all of my assets in it, not because I do not trust it, because of the price always pumping, going lower and I might lose a big amount of money. As for security, I would totally put all of my assets in Bitcoin, if the price was always steady(with low price moving).
I do believe the question is about safety asset to invest, sure for those who wanna profit from bitcoin would take the risk. One thing is sure you should never invest all into just one thing, being bitcoin or any other big project, always save some for protection. |
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I think you should invst it in cloud mining, but not everything at once, try with some coins, if you are getting good profit, you can increase your invstments amount.
Why people do really advice anybody to invest into cloud mining, they are all ponzis, stop making sugestion to make people loose their bitcoins. I would trade with 6 bitcoins and save the others 6 bitcoins, with my earnings from trading i would be funding my projects. I am one of those people who discourages in investing in cloud mining, I do not believe in them anymore and that is base on my bad experience investing. Is is better to gamble your money that invest in that specific investment. I wouldnt say discourages investing in cloud mining, but to stop sponsor hyips and scammers doing such. Because cloud companies are just a nother way to steal coins, and even they repaying a portion of your investement you will for sure not be able to roi. |
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For the big country like Japan and USA, i think paper money will dead and digital money will take it. But for developed country, i think paper money will be used permanently.
I think you mean undeveloped countries which can't afford to set up the digital money system. For all other countries which can afford setting it up, digital money will be their only option. If the future will be digital, all countries will have acess, being some country developed sponsor the other, with some kind of interest. I do believe someday the internet will be free for all, soo the equipment to acess will be the things that will cost money just. |
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I think a good way to invest $ 100k is buying bitcoin in low price and selling it when the price is high, but that's just my opinion.
You never know when another event like Bitfinex can take place, making the price go even lower. My only option would be Gold investments. The price will never fail, and you're going to be rich in less than 3 years if you're going to do it now. Gold value is volatil as well, soo investing into gold expecting it to get more interest as value over the years, i do believe it has already happened on the last 30 years at gold. Invest into bitcoin may bring huge and amazing results, but you must buy and save them into some wallet, making it safety. There is no way to double without taking a risk. |
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Saving without investing is losing money due to inflation. Unless your savings are in Bitcoin  Nice point, if we want to save then we should have to convert them to bitcoin and have to save them in our wallet, we can call this saving as investment, as bitcoin is a more favorable asset for the traders to earn money with it, so it is also a good investment. Knowing that savings even loosing to inflation a bit all years it generates new money that can be applied as well. Investments may bring better results but you have to expose your money at some risk, and there is no way you be sure it will roi. |
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Soo i didnt get this, he were offering to repay 0,016btc or 20% interest on the loan request? Anyway why does newbies and others people requesting a loan without colateral, just some reputable members are able to get a loan without colateral.
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Well, many investment opportunities out there, like Forex and HYIP accepts Bitcoins.
it is sad to see a Hero Member call HYIPs as an investment opportunity for bitcoin! Also, many online merchants accepts bitcoins as well.
There are many other opportunities to spend BTC online as casinos, games etc.
So, I really don't worry about it.
yeah, and this is exactly the thing that gives bitcoin its real value. and the rest is on the speculators and those traders that change the price up and down so much. What do you think those companies do with the bitcoin they get? Do you think they store them? Sure a part of those should be stored, since now you can pay almost all services online with bitcoin, host, domain ,security, but remove fiat exchange and you will see the bitcoin market services disappear instant. Bitcoin has value in fiat, and several companies, merchants just work with bitcoin because then can exchange it to fiat, taking their profit, dont be blind bitcoin needs more fiat then the reverse.
it doesn't matter what those merchants do with their bitcoin as long as they accept bitcoin, it gives bitcoin real value and it helps with the adoption which is important more than anything else. You dont get me the most casinos and merchants accepts bitcoin because they can exchange it to fiat, soo be sure if fiat exchange stops those places will close doors, what the point to have bitcoin if you cant do nothing with them on the online and the real world? |
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Buy and selling bitcoins at those atms is still very expensive: it's true that it is a quick and fast service but fees are too damn high at the moment. I know people who own them need to gain something from it but unless you are in a hurry I would use them
That's exactly the reason why we wouldn't want to be using BTMs right now. The fees are too damn high. We know that it's not too popular yet but that doesn't mean that they should have so much fees just to cover for their own expenses (well, that should be a given but still), this gives us the reason to not use them. I believe there is one where i live, i need to travel something like 3-4 hours to reach it, but i wont use as i can sell or buy bitcoins with a person who is trusted and knowing those atm are charging such fees i wouldnt use them. When i saw the first new about them i thinked it would come with a cheap service, soo all could use them, but until bitcoin achieves mainstream is a sure the big fees will keep. |
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Well, earning a living with Bitcoin is actually possible, but living with a job seems to be the best option. At least Bitcoin can be, at the time, considered as a secondary source, being able to make the life more comfortable.
But for me earning a living with bitcoin is more satisfied as with that I am earning more money than my normal job, before joining bitcoin my normal earning was much lower and I was unable to fulfill my needs but now I am earning much better. I have just started to earn bitcoins. I also wish to earn bit more for my daily expense. I really need to work everyday here to reach a Full Member rank to earn more than now. Every day's expense are really increasing day by day after my son is born. So really require money for his expense. Thanks to this forum, especially thanks to who found this currency. Bitcoin opened several doors to all people who interested into technology and make some income online, something that were possible but very low income and several hours wasted. I keep working and im getting now something like 20-30% from what i earn with my real job, im happy to have both. |
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What a bunch of sheep!
I thought bitcoiners were revolutionary, I was seriously wrong. But the case is clear to me. I'll keep on using BTC because I don't have much other choice. I don't have the right to open a bank account in the country I'm currently staying. Anyway, moving to another country is no big deal.
Just for curious if you arent able to open an bank account where you live, you forced to spend all earnings or try to save them better as you can alone. But looks like you are exchanging it to bitcoin a part of your income, are you working outside your country? I dont cara about what government says, because they only wanna more money from people, soo banning bitcoin for me would make me search even deeper to get them. |
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Indeed! bitcoin have a bright future ahead! as of now, bitcoin is shining brightly! imagine its value now is $600 per coin? it started as a scratch and no one is believing on it until it rose its value. for me, bitcoin still has a long way.
yes i am agree with you and there is no doubt this that bitcoin has a very very bright future, as bitcoin is the only crypto currency which can be use directly for buying and selling things. more and more people are entering in bitcoin and hope that its value will increase more and more in next coming days. You are right, as soon as more people start to adopt bitcoin the demand of bitcoin will increase and with that the price of bitcoin will also increase and with that more people will invest their money in there so it has a more brighter future. And for that we do not have to wait but we have to struggle hard to invite others to join bitcoin, we have to take start from our home and have to invite our family members and then have to invite our friends and other relatives to adopt bitcoin and then advice them to invite others also, with that only we can increase the community of bitcoin. waiting alone is just useless. Bitcoin has future, and its alive already 7 years, soo it has showed it camed for stay. I tryed to bring my friends inside bitcoin but they are afraid because there is nothing about bitcoin earnings be legal or not, soo the most of them just dont try it. |
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people who do not understand the workings of bitcoin, bitcoin certainly hates. and people who understand bircoin certainly will like and use bitcoin. it's easy.
You are right that if someone have do not knowledge about bitcoin they hate bitcoin, and other people who have knowledge about bitcoin and they know that how to use it or how to use bitcoin for trading or for online shopping so these people loving and support bitcoin. Especially those people who want to earn some extra money and they find that with bitcoin and its trade they can earn more higher, then they immediately adopt it, no matter they love it or hate, and when they involve in there they start to love it because of its attractive features, so there are more lovers of bitcoin than haters. Before i know deeply bitcoin i consider it another ponzi, one ponzi well elaborated, as allows to be mined and has a marketplace to buy and sell it. Soo i do believe the most people has the same opinion i had, and dont care about research about it. |
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I agree, there are lots of history where people who left their coins in exchange lost everything. GOX and Cryptsy are the bigger one, and there are some small exchanges too like sharex that just close and run with their client's Coin not saying the one posting this message have First hand experience of losing coins to an exchange/trading platform that shutdown.
Yeah true, I remember before I never thought that cryptsy will be shutdown, I was shocked actually, but I learned and that is, it doesn't mean the exchange is company it will long last,..no its not like that just like what happen in bitfinex its a company and many people invested to that exchange but it shutdown too. But it were running without license, and the most of the people didnt know it, i just trust poloniex, and sometimes i let my all funds there, but as are always less then 0,10btc im not taking a huge risk. All should know that the most exchanges hasnt license to run, soo the result will be a hacker attack or closing doors. |
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Well i will start this auction as i like games, soo my bid is 0,02btc, kindly let us know how much would go up, meaning the increment for the next if any bidder.
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If you have some extra cash and don't mind sitting on it, BTC is probably still a pretty safe investment.
I don't think there will be any huge crash. Even the recent BitFinex hack only caused a little bit of damage
The price had started moving south even before the Bitfinex hack happened. It might have added somewhat to this downward trend when it just happened (that long red candle down to $465 at Bitstamp), but it was neither the cause of it, nor did it seriously accelerate it at the end of the day... In any case, 120,000 bitcoins instantaneously withdrawn from trading is not something to sneeze at It's a monstrous amount for sure. However, it's funny that the theft of around $68 million resulted in the market cap to drop with a few $ billion. It took us so long to build it up, and it takes a few minutes to break it down.... It was more like a knee-jerk reaction. But without doubt someone had profited from it handsomely (and I don't mean thieves). Besides that, I don't think that the price would be much different right now if there had been no Bitfinex hack at all... If the stolen coins never enter trading again (for whatever reason), the hack could actually prop up the price in the long run The price was indeed due for a drop, but I am however not sure if it would take the price to below $600 levels. Even if the coins stay untouched for at least a few years, then it's also good. Less circulating coins means less potential selling pressure on the market. Did Bitfinex publicly share the addresses where the stolen coins have gone to?I don't know if this information is publicly available. Rumors have surfaced that it was an inside job or even a successful scam attempt. As I got it, Bitfinex is operating right now (I was able to login to my old account and asked for a password reset). It seems that they are following the steps of Bter when it was hacked in February, 2015, i.e. promising to repay the hackery victims later on in full... But Bter never lived up to their promises, and by now it has become a miserable and despicable shadow of its former self Thats the big problem bitfinex were running for a while, why the hacker has attacked just now and just took a part of the coins, anwway almost all people do you it were a inside job made, i dont believe they can recover really, who will trade their knowing what happened already? I dont believe bitcoin price can go down, but it should keep growing and soon hit again the 600 dollars and find support to keep there. |
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Well, many investment opportunities out there, like Forex and HYIP accepts Bitcoins.
Also, many online merchants accepts bitcoins as well.
There are many other opportunities to spend BTC online as casinos, games etc.
So, I really don't worry about it.
What do you think those companies do with the bitcoin they get? Do you think they store them? Sure a part of those should be stored, since now you can pay almost all services online with bitcoin, host, domain ,security, but remove fiat exchange and you will see the bitcoin market services disappear instant. Bitcoin has value in fiat, and several companies, merchants just work with bitcoin because then can exchange it to fiat, taking their profit, dont be blind bitcoin needs more fiat then the reverse. |
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Without doubts mass adoption, soo bitcoin would be used, knowed and the good thing in the end it should make the price grow a bit, and the demand and supply for have it would work, something currently we dont see at bitcoin.
From other side a bigger price would bring more people for sure, but the community would keep being almost the same and bitcoin at same status, unknown for the most people.
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