This is interesting could be a mass following with this. South Korea is preparing to Tax bitcoin use after the cryptocurrency's trading volume sky-rocked. This could spark a new trend s everyone battels to see how to control the life of cryptocurrency's
They can't tax the bitcoin's transaction itself since it is somehow anonymous. But they can apply appropriate taxes on the exchanges once you converted your coins to fiat. Since it will reflect as an income Government can apply those taxes. Just hope that they will have a fair and balance taxation system for this. |
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If this happens once they requires document for an ICO where will the term decentralized be? As one of the purpose of crypto currency that its users should regulate themselves by the use of the block chain, what is the need of such checks? I strongly believe that ICOs needs to be regulated heavily for the interest of their investors. If we look back and check all previous ICOs, we will see a lot of ICO did not turn up with their final product which they promised for and the investors are crying foul for having to loose their investment. This has to stop, otherwise the ICO market slowly become the scammers paradise and people will start avoiding investment in ICO. If their is a genuine ICO from a genuine company, they should not have a problem with the KYC norms at least. If their intention is good, they will proudly show it to the world. But if anyone is starting an ICO with the bad intention, they will not be willing to comply with the kyc requirements. It immediately put us on alert about them and we can safely avoid that scammer. ICO is already a very controversial way to raise money and it needs to be regulated for the sake of crypto currency reputation.
It is everyone's responsibility to check and verify if they are joining the right ICO's. |
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Some people may call it a bubble because of it's nature. Unlike other currency with gold backing it up. But wait why do people always says that bitcoin is just like the "dot com bubble"? Wherein it is way too different from that, from the start bitcoin never promise anything what it did was it just gave an option for people to use as an alternative currency.
More and more people are supporting bitcoin so if it is a bubble those people are avoiding the bubble to burst and I don't think that those people will let it burst.
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There are many ways to invest in bitcoin one is converting your fiat into bitcoin, another is investing on a mining rig to get some coins.
Both ways requires huge amount of money but has a chance of earning in the future. If you convert your fiat to bitcoin and get into trading especially if you are an experienced trader before it has a very promising returns and even high rate of earning because the market is too active that trading is available.24 hours a day.
Mining may not be as profitable as before but if you keeps those mined coins and just wait for the price to increase and also get into trading it will still be profitable at some point.
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1. Do not invest your own money
2. Work hard
3. Use the latest technology
4. Respect the time
5. Realistic
6. Sell excess, not price
1. Unless you have a good business in mind that would entice investors to fund your business you are good with this. 2. Working hard is not the only thing that you need to do, I would suggest working smart. Efficiency over effectiveness. 3. Of course latest technology is a must especially if the business needs it. 4. People now a days really value their time and a business who values the same has a higher chance to succeed. 5. This is a must for you to get number 1 6. Depends on your market and your marketing strategy. may also consider the type of business you have. |
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If a crash on stock market happens today while bitcoin is still on this phase then the price of the coin will be affected. We should remember that the coin don't have it's own value yet and it is just depending on the real money's value. Imagine if a number of people who owns a coin is affected by the crash and needs to sell their coin just to recover their loss. It will cause an increase of supply on the market and definitely reduce the number of demand which will cause to a deep on prices. |
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Do you think bitcoin gold value will rise to bitcoin value
Definitely no! Same as the bitcoin cash, bitcoin gold is just a fan based coin and it's value is just determined by its fans. Unlike bitcoin which most people considers as the mother of all coins ( THE MAIN COIN). Most altcoins prices are based on BTC's price so it is impossible for a coin with the same number of supply to surpass its mother coin's price. |
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This is something which I've beleived for awhile, which is the prospect that if big governments and banks worked heavily together they'd be able to remove Bitcoin from the face of the earth. They wouldn't ban it, as that would be a tough thing to swallow for the American people as they wouldn't see a good reason to do that ( at least in my mind here) But they could just go ahead and regulate Bitcoin into oblivion, making it hard for Bitcoin businesses (buying and selling, trading, etc) to operate within their countries, or be subject to insane taxes, KYC AML and such.
Do you think Governments could kill Bitcoin?
Definitely if they want to stop it they can. Yes they can't declare bitcoin as illegal without any basis but what government can do is regulate the use of it which may cause for people to stop patronizing bitcoin since it will just be another centralized currency. Another thing that government can do is they can declare mining as illegal which may cause to the stop on processing of the transactions for the coin and will eventually cause to people stop using it. |
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Does anyone have information whether bitcoin would distribute wealth more equally across people than the current wealth distribution?
Or would the distribution be even more unfair?
It won't distribute the wealth equally but rather will just reset the people who is considered rich today. If ever bitcoin reached that stage where it is considered as the currency in exchange of fiat. People who invested on it first will be the new rich people. Imagine how much coin the starters already own by that time and the new comers needs to buy the coin on the price what it is worth by that time. Even if you are a billionaire right now if you were late on investing to the coin your billion will be useless it may only worth thousand or even hundreds of coins by that time. |
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Warren Buffett, CEO of Berkshire Hathaway and once the richest man on the planet, has lately met with students in Nebraska at a Q&A session. Among other issues mentioned at this session was Bitcoin – and it’s interesting to know what one of the most powerful market figures of the word thinks about this cryptocurrency. According to MarketWatch, Buffett stated that Bitcoin is not a value-producing asset and there is no telling how far its price would go. It is “a real bubble in that sort of thing”, Mr. Buffett concluded. There is a completely unjustified hype around initial coin offerings, the entrepreneur believes, and described this as a typical market sentiment when “people get excited from big price movements, and Wall Street accommodates”. Read moreHe may be right, if we are going to compare Bitcoin to the trading stocks of Berkshire Hathaway it doesn't have anything behind it where the prices are coming. His company also started from a small price but now it is the highest valued trading stocks. Company started in the 90's. But one thing is common with bitcoin and Berkshire's stocks. It is the demand from the people who wants to own a piece of it as an investment and bitcoin being called as the currency of the future might exceed it's price in the future. |
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Where is the moon for you?
I would really like to get some responses from long time HODLers of BTC.
If you bought BTC @ $200, are we at the moon yet?
What if you got in at $20?
Where is the moon that everyone is waiting for?
It is part of the human nature, it is hard for people to be satisfied. Even if you acquire the coin for a penny before considering its current price you may still not consider that you already hit the moon as long as you are seeing that the price is still increasing. Personally if I see an increase on my investment for 1000% that is already the jackpot but that is only a personal perspective and every one has their own. |
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A statement from an alt coin creator stating that 90% of alt coin will fall.
That only means that even the coin that he develop has a chance of falling in the future.
How can we be sure that the one that he created will be strong enough not to be included in that 90%?
Ethereum might have a value right now but who knows what will happen in the future.
Is he trying to say that it will be better just to invest on bitcoin?
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I would be worried if the amounts they sold/traded were lower. But if they sell 50.000$ in only six meetings then that means that this guy in fact does operate a - very probably full-time - exchange business.
That isn't a "private Bitcoin seller" anymore, and you would be charged for that in most countries of the world even if you didn't use Bitcoin but operated, for example, a Dollar-Euro exchange.
So it means that even if the source of your income is from a crypto currency you still need to comply with existing taxation laws. How are you suppose to calculate the taxable income from bitcoin if the price keeps on fluctuating do you need to declare if how much you bought the coin and how much you sold it? |
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Since January 1,2017 has anyone ever hit a block of bitcoin solo mining on a laptop with a usb miner like gekkoscience 2pac?
This could be life changing money for $100 investment
With the increase on difficulty level and increased in the numbers of miners using a much stronger Asic miner, I think using a USB miner will not be profitable now a days. Asic Miners has a speed of as much as 14.5 THs compared to USB miners 15 GHs. And you even need to have a bunch of Asic miners for you to get a single block of BTC. |
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ithink it depend what your paying for..the higher you pay the lessthan your transaction fee isn't? i observe that when i send btc if i send small amount the fee is so high when i send big amount the fee is cheap..by the way ihad few transaction correct me if im wrong...
I believe transaction fees varies from time to time depending on the volume of the transactions needed to be solved at a given time. Before the fork transaction fees went high because of the high volume of the transactions. Supply and demand also affects the increase in transaction fees. |
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For something like bitcoin with no company behind it to base its price this is really hard to predict. Unlike trading stocks we can review the performance of the company for the past months and any development that they are planning to have.
What we can use for bitcoin's price as a reference is the news released about it. like the scheduled fork. FUD's would also affects its price. expect a deep after a FUD and then price will go high again.
Bitcoin's price only depends on the demand from the people who wishes to have a coin.
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What a very nice insights about Bitcoin though, did you interview someone? or did you just play all the role of asking and answering because it seems that it is so informative and good for the newbies to read this Blog of yours.
I hope to read your next other posts just like this one because it is so entertaining and well explained. All what I think about Bitcoin since I started was on your blogspot by being on line by line and on point.
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That's the essence of hodling bitcoin on troubled days and i think they are the real investors or the investors who has the heart to take risk, in my opinion. They are hodling it because they know that its market value would rise again soon. But they are of course risking their bitcoins too for selling it low if its market value will never rises again. But that case is something that is very unlikely to happen in the history of bitcoin.
They are holding the coin on troubled days or when the price is low and they are even buying more because they trust that it will recover and even go high. Most of this investors are experienced and has spare funds that can be used for it. They know that whenever the price goes down it will recover and they will even earn more by buying more during the dump. The fact that they have invested to bitcoin it only means that they believe in it. |
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It's almost like we don't value it for itself, but what it's worth in "real" money.
It is not that we don't value it for itself but because the fact is it doesn't have a value for now. You can't use the coin for everyday life as of now. You can't buy basic needs from it but you need to convert it first to a fiat currency in order for you to use it. Bitcoin is not yet on it's phase where it has a real value it is still dependent on fiat currency. Businesses accepting the coin are just being established once we are on the phase where Bitcoin is used to buy anything and more people accepts it for trade then it will be used for what it is meant to be. |
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