It is recommended to deposit or save in government's bank so you have a right to chase them if they scam but I doubt they can do that unless they want to destroy their reputation. I will just use bank if it is badly needed or it is basic or major requirement for a particular purposes like getting your money.
That's the advantage of letting your money to be saved in the bank. You are covered by the law when something happened unexpectedly to their bank, just like insurance and everything as long as that collapse will happen within the banks premises or the cause is the banks negligence. That's why I still trust them because of that. When it comes to savings, nothing beats banks. They have all the facilities to make sure you money is safe, but when we talk of investment, banks should not be trusted with it, bitcoin is the most popular now, so we take part of this great investment. |
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It can be the future of the bitcoin but I do not think that this will happen to be honest, it has a good future but its not so good of course.
Online currency or digital currency, yes it is. But since it is still new, we just not say it will happen but we have to put it in action, good thing adoption is great for bitcoin this year as evidence by the price increase, and hope this will continue to realize what we are liking to happen. |
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Since the massive growth that bitcoin has seen over the past couple of years it became very popular among the internet users especially for those who are looking for an extra income, it is indeed used by many people so it is considered a global currency but it is unfortunate that governments do not see so.
You see because of the nature of bitcoin and how decentralized it is it became something they cannot control that is why they refuse to make it as an official global currency.
I also think that it has grown a lot and that it has a great future but we can simply not become a global currency that is just not possible without any doubts. It is already grown a lot and it keeps on growing each day that is passing by. It can be a global currency even there is no law with it as long as all of us are agreeing that we need to keep on using bitcoin then for sure we are going to have a lot transactions with bitcoin. Then that is going to make it as a global currency. Bitcoin is global currency and I think its the only way in which bitcoin can survive, to be international. If we tie bitcoin for any country that can be the end of this freedom we have now. Do you think that bitcoin can work just in one country? What will happen with bitcoins in that case? As I see here there is people from every country in the world, that is international. Yes for many of us bitcoin means extra income, but through that we learn about alternatives, world economy, some people find bitcoin very helpful in sending and saving money. Bitcoin is our currency, there's no government that regulates it, we have to support it to continue to grow and a massive adoption would always help. I see some businesses are already accepting bitcoin but I am not satisfied yet, we can grow more. |
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The problem is how to get such steady income without working or doing anything.
The only thing that occurs to me is that you sign up in many bitcoin faucets , get the link to refer and distribute it freely everywhere. This will involve a bit of work at first, but if you do well all your referrals will work for you at the end.
If you are healthy you can always seek for a job, regardless of what you finish in your studies, you still have a chance to find a good job. That's what we need and if possible to work with a more stable job that pays us regularly as scheduled, it will ensure us to survive by paying all our payables. |
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im using bitcoin to pay our bills in internet connection here in my country and there's a lot of companies that accepting bitcoin too as a payment. I'm still waiting till it has finally implemented as one of the transaction method. bitcoin has a really great features that's why.. I want to use this even when buying a coffee.. going into a restaurant.. and even buying stuffs from a mall.
The same thing here in my country and I would say that spending my bitcoins through paying bills, buying prepaid load cards and other services that has been adopting by our local exchange here is truly a big help. I do have funds for spending bitcoins but still I have funds for keep on holding as the price is keeps on increasing. Nice, more countries should allow their people to pay bills and services using bitcoins. In the most places, we still need to convert our crypto-currencies to fiat before paying our bills, services and stuff. However for now, I agree with you, we need to hold it as the price keeps increasing every day, would be a mistake to spend all bitcoins now. Don't worry it will happen soon as long as there are investors in your countries that are ready to adopt bitcoin and sees the great potential that bitcoin can give to them for profit and as well as good service to the people. And there is no problem if we have funds for holding but make sure you are still helping the economy of bitcoin by spending some of it also. What people need in our area is awareness, without it they will not be able to enjoy the system of bitcoin. It has been noted already that bitcoin will make it easy to transact online, and some online business have migrated bitcoin into their payment system. |
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Fortunately the bitcoin does not depend on national authorities to be developed or adopted by interested people. Bitcoin represents an unique opportunity to set aside the national barriers arbitrarily imposed by the old international treaties, and therefore we should not worry so much about this understandable banning.
It does not because it existed without the government and it has grown even without the support of the government. Some countries made it illegal, but look where we are now, we are still progressive as it was, we are strong and we will never gonna kneel down before them. |
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Dont sell everything, because the bitcoin will be rise in the next year in january 2017
its good choice to hold some bitcoin.
I'm also thinking this and due to that selling your bitcoin would not be good at all right now, it will be more profitable soon. Bitcoins will probably rise up sky high when it drops due to correction next year. But don't sell if it does drop. It will rise up just be careful when it drops you could also sell by that time and wait for it to drop really low then buy tons of it at that time. It will double up again next year that's for sure. Let's all be hopeful though that when it does drop again it does not drop to nothing, because that is another possibility. Bitcoin is not going to drop to zero and if you think that maybe it is time to cash out and leave bitcoin for good and choose an altcoin or leave the market of cryptocurrencies. We can never tell dude, though we see it's very progressive now but the reality is we have seen crash in the past, so it's not possible. Just be very vigilant to monitor the price of bitcoin and you will be able to get in and out at the right time. |
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I have not tried to invest in anywhere. But I already saved some little money on my wallet and I am thinking what to try. And of course I wish to invest in something profitable and not risky.
You won't see what you are looking for, believe me. Everything has a risks especially when you are talking about investment. |
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I don't believe the banks can be completely wiped out in a moment but I foresee the banks rather investing in bitcoins and gradually replacing them (their fiat) with bitcoins in the future.
They don't need to invest much in Bitcoin. They issue loans nominally in Bitcoin and hand out checkbooks. They don't have to hold the full amount of the checking accounts in Bitcoins, just a fractional reserve.  And their loans get paid back in real Bitcoins. Pretty soon they have a lot of Bitcoins. Yes it can happen that payments with banks will be bitcoin but I don't think that they will allow that bitcoin will replace fiat for real. As we know that the risk is still there and because of the price of bitcoin is not stable enough and cannot be controlled. I don't think they will completely trust their business to a decentralized crypto's. Bitcoin as a high value store token has been gaining popularity among most of the financial service providers. Banks were the most among those and banks supporting bitcoin won't happen as quoted. Already banking system is with continued plan of updating themselves with the technology but haven't issued willingness to use bitcoin into the banking services. Bitcoin in the future will be the major competitor of banks if people will continue to adopt. We are going to be a big community, and though banks are planning to make their own blockchain type but they cannot beat us with our technology. |
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I don't think the government will be outsmarted by some businesses. When they start to notice that there is a decrease in their income tax they will know the source of the problem, they might even count as using Bitcoin as Tax Evasion. Anything that is a source of a company's income is taxable including Bitcoin of course.
Governments are outsmarted by business all the time, many of the biggest business in the world pay not tax at all thanks t complicated schemes used by their lawyers that is why some governments are fighting for something they call harmonization of taxes which basically means all the governments of the world will tax you at a particular rate of your income and as you may guess the countries where you pay no tax disagree with it. The government has all the resources to determine who are not a tax payers but they just don't act on it when corruption are involve. It normally happens in a poor countries where public officials are corrupt and they just accept bribe from corrupt businessman as well. It's different in bitcoin as it is decentralized and it can never be corrupted by government, it's either they adopt or they will hate bitcoin by banning it. Corruption may be an issue, but the biggest businesses take advantage of the laws on different countries to not pay taxes, so it is not only a problem of corruption, big business have big money they can use to circumvent the laws. Income tax is not supposed to be evaded even if you are using bitcoins! Income tax is tax on your income. Hence if you do earn from bitcoin, no matter where you are you should be paying income tax. The concept is quite easy. You earn, you pay for income tax. Even if your source of revenue is from illegal activities you have to pay for income tax. The government will realize you are not paying income tax the moment you overspend outside of your means. For example, a big corporation acquired a multimillion dollar servers without even declaring a single cent to the government. That would be investigated outright. In fact it matters where you are, in many jurisdictions you don't need to pay income tax that comes from foreign sources, basically you don't pay income tax on income that comes from other countries, so you are mistaken about that. I don't know what country are you living, but what I know is that we have to pay taxes whenever there is a transaction that one involves to earn income and that is regardless if it's domestic or foreign transaction. |
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all bussness still can risky but you can minimum to risk
if you want loan you must use colletaral, is safe two person, if give and receive loan, and you not trust open service lending
you can use escrow, so pay escrow receiver loan
The risk can be minimize of course and that depends on how we treat and mange the risk, lending business is a lucrative business in the real world but online there's a bigger risk as though we can require a borrower a collateral, it's not safe still since collateral are not valuable as we expected.A good collateral is a in demand collateral and digital goods is not that in demand especially BTCtalk accounts. That's why when you read the sticky thread in the lending board, you will see that they are suggesting that you only accept collateral that are 120% of the borrowed amount. There are also some guidelines on how to choose if the collateral is a good thing to take. You can always deny people's request if you don't trust them and you don't like their collateral. I see people getting denied a lot in lending threads. No question there. I just want to add that a "good" collateral right now might not be a good one anymore at the date of payment so always be cautious when accepting loans. I think I understand what you are trying to say, but big question is, who will appraise to determine it's value? |
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Buying drugs with bitcoin is already a common thing in my own view on which it is being used on darknet and seems like an ordinary transactions are commonly happening there thats why bitcoin is being used for its anonymity feature on which they cant be traced so easily.Buying drugs with bitcoin is really possible and that is the negative side of bitcoin.
True, and it has been happening already and they are using bitcoin because this is acceptable online with a value and they can be anonymous with using bitcoin. These people are hard to trace in the darkweb, they can always make new sites every time the government will track down the other. |
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One thing i would like to happen just to be accepted by every store every where in the world not just in some places
For price that is something else won't speculate just hope for some good pice for that time
That would be pretty convenient for us if we were able to see that happening in the future, although I am a bit doubtful it will happen but I am really looking to it, I have no right to contradict it as I cannot see the future, whatever good for bitcoin will be good for us. |
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Fiat will remain popular and trusted by the majority of people because it is always available to use offline than the bitcoin. Although it is not inflation-free, fiat is less volatile than the cryptocurrencies in the digital world.
You are right but these are the chances that with the advancement of bitcoin it is sure that some resources will be developed so that people will not need internet for processing their bitcoin transactions and will use their bitcoins in the same method just like we use our bank ATM cards. Actually it's not that easy, by using bitcoin as online currency, we do not need to comply a lot of laws impose by the government, however if we are planning a different level for people to adopt which we want to make physical appearance in an area, then it will be a little more complicated. |
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Of course the price of bitcoins matter. How else are we sposse to evaluate how much it worth and how much somebody is going to pay for it?
I think when they created it the worth was not much because it was not well known but now that more people have used it and it is wide spreading across the world it's worth is more and worth more to people.
yes i am agree with this, with the increasing in the price, we can see that many people is attracting to bitcoin industry and they will use bitcoin to find some new source to make money. we know see that the price is to get increase more and its really worth to waiting for the next price. and this is why the price of bitcoin is really matter for us. As the price increases, it always gives us a good promise in the future that we will be profitable, and it matters to us even if it dump or pump because that is the basis of our decision making, whether we continue or stop. |
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Try to grow it by trading or if you are experienced maybe by loaning out some at first. I tried this method but it did not work out so well. So this method is not for everyone.  Loaning business is not that good as we expected, the percentage of collection is not good enough online, so I guess it's better to trade than lending your money. In trading, when you are consistent, you can grow your money any amount you like, so there's no limitation but only yourself. |
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Yes. While it is used for drugs, it is actually a good thing and people need to stop using it to buy drugs, child porn, etc.
It's a holder's decision on how to spend his money, but all we can do here is just to hope that he won't do anything bad that he will regret the consequences in the future. Bitcoin is not at fault on this, but we the decision maker. |
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you can invest your 4% bitcoin in altcoin trading and 3% bitcoin hold for the future because bitcoin increasing its price too much day by day and i am sure you will be sooner make this amount in few years so its really possible to make 17 bitcoin out of 7 Btc.
What's that? A magic or lucky number? Anyway, OP is looking for a way to earn ROI in "short period of time" as he asked it. That means it should be fast and won't take long to earn. with 7 BTC as capital, that's good enough to start a business or put it to trading platform, too bad that 10 BTC as goal or more than double the amount is not achievable in one month without proper knowledge. Investments are too risky to try, that is why its better that your capital is in your hand while you are growing it which is thru opening a business or becoming a merchant. The best thing he can do it to gamble that amount, or sell illegal drugs online. Both are risky, but for short term plan to profit that good amount, you are going to risk big, whether you like it or not. |
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Bitcoin transactions are always fast! In the last days with transaction spam, I need also 48 hours for a single confirmation  Now seems the solution is normally (but I don't know for how many time  ) Because we have patience, we were able to understand the network sometimes, and besides, delayed transaction does not happen all the time. It is just normal when a network is very busy and what is important is we are satisfied users of the bitcoin and the blockchain. |
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no i don't think you should sell your bitcoins, that would be very dumb move now
what is your minimum attainable price and what is the price you are expecting and at what price you are willing to sell the coins.I will be glad to sell off my coins if i am earning a good profit and it all depends upon at what price i entered. For sure OP is looking for a cheaper price, and this thread was created June 216, so it's almost half a year already and I guess by this time he have already enjoyed what he bought during that time, the price seems really great as of today. |
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