if you realised how they got the numbers, you'd realise that bitcoins doesnt matter. neither does apples or banana's

if you cant work it out by reading the details available on their own website.. then your skills are lacking.. so im not going to use your advisory service, simply because you don't know how to sign up to a site or research facts.. sorry

the original idea, which i felt was flawed and very scammy was that they wanted some crowd funding.

but what would be the great plan is not to physically buy an island. as thats a billionaires wet-dream, but instead make it the most bitcoin friendly island there is.

the guys behind the Indonesian exchange can do all of this without crowd-funding. they simply use their exchange as the 'bitpay' equivalent service for shops on the island to convert. (also how the exchange makes the profits to afford the promotional stuff)

all they have to do is set all the shops up with their exchange and offer a QR/fresh address service that links to merchant accounts. this costs the exchange nothing to set up, bar a few lines of code. and walking around the island drumming up business has no costs either.

the only costs would be labour which they recoup from the merchant services they offer on their exchange.

if they want to have an office, again they dont need crowd-funding, as the exchange is already making profits so its not like they are a start up. they simply drop the current office rental, and move to another building that is on the island.

so now we are all on the same page that crowd funding is not needed, let move onto the promotional side of getting the shops on that island to accept bitcoin. then once the shops accept bitcoin. the staff who live on the island will find they can buy their food and clothes with bitcoin as... the shops they go to accept bitcoin. meaning the amount of bali legal tender will slowly decline to not being required at all.

the average life savings of people is $44k (rounded and exchanged from native countries currency into dollars)

223trillion / 7billion people = $31840

so the $223trillion figure does not compute.. the number should be higher

also many people are millionaires, billionaires, meaning for every millionaire there is atleast 20+ people with nothing saved in their bank accounts

for every billionaire they hold the life savings wealth that would/should have been spread amongst 20 thousand people.

so i think you will find that not every single person actually had $30k-$45k life savings. rather, the reality shows 1 billionaire vs 20k poor.. is the more factual statistic

of course you have not seen proof. because you have not even researched into it. but goodluck with that

those that brag about their riches are usually naive people that are not used to being wealthy. and usually find in 20 years time their riches would have evaporated..

thos smart enough to have always been wealthy and increase their wealth would not brag about it, nor tell anyone how to also bcome wealthy (avoid future competition), plus as lethn said avoid unwanted attention from scammers.

i have seen too many polls asking for how much people have and what client programs they us etc, all part of th schme for people to target the rich. so dont pretend it doesnt happen.

people like warren buffet will tell people not to buy things, so that he can buy cheaply without competition. then when h is ready to sell, he will tell people to buy so that he can sell without causing a price drop.

you will find the rich and wealthy people tell you the opposite to what you want to hear.

lets clear the FUD up

1. the bitcoin creator is a single entity, that has ben proven by the messages on the forum pre2012 and the emails to Gavin A
2. during the Dorian Nakamoto saga. the bitcoin creator made a forum post (not here) elsewhere to prove that dorian is not the creator, and the side effect, that the create is still alive, and able to use a computer, thus not in prison

research harder kids, your making yourselves look bad

+1
also there is no such thing as a bitcoin millionaire. no one holds 1 million bitcoins

if you mean fiat millionaires.. there a MANY

convert less then 300 bitcoins into chinese yuan and your a FIAT millionaire

its not a big deal..... moving on

bitcoin in most countries are being classed as assets. thus the regulators don't need to get involved with licensing/regulating bitcoin. this is the big point people miss.. governments are actually doing a good thing by classing bitcoin as an asset.
due to this fact merchants can save alot of money
1. no licence/oversight costs just to accept bitcoin
2. no secured money trucks to pick up bank notes each evening/week
3. no cash counting each evening (save labour costs at end of shift)
4. no banking fee's or insurances.

so when someone pays a merchant with 100 bank notes the average auditing, secured transport costs are 1 bank note
so when someone pays a merchaint with debit cards the average processing fee costs 2.5%

but with bitcoins the average is less then 1000th of the transaction.

as for the guy saying that bitcoin is only for scammers, theives etc. the same was said in the wild west days of gold mining. anything of good value is always going to be a target..
for instance if hackers could break the protocol to mak bitcoin worthless, they would never want to use bitcoin due to the fact it can be broken. yet theives and hackers use bitcoin because they cant attack or get attacked, thus bitcoin is a true usefl and secure store of value.

so if a thief wants it and a hacker cant hack it. everyone should be using it. theives and hackers prov bitcoin is a good value store, and there are not as many nasty people using bitcoins as you think

paypal and ebay are the same company. thy just divided it up for auditing/tax reasons so their partnership is not based on any timed contract or agreements. so you wont see them split apart.

paypal will never drop FIAT and be solely crypto currencies either. the world wont drop FIAT and go with only crypto. that is not how things work in reality. what you will find however is that paypal will accept crypto currencies ALONGSIDE fiat. Ebay (the parent company) will realise that by accepting crypto currencies that ever 25c advert no longer costs them 5c in admin and processing fee's due to the FIAT system, but customers using crypto to buy auction listings will spnd 25c worth of btc. and ebay will get 24.9c of profit, if not more.

this will make ebay more profitable and try to get customers to prefer crypto payments, by doing promotions. but paypal/ebay will never drop fiat.

at this current moment it is estimated that 0.0017% of the world is using bitcoin. even if every american used only bitcoin, that is still only a low percentage of the world.

you are never going to have 100% world adoption of bitcoin where bitcoin is the only world currency in existance (although id love to be proved wrong one day).. the most we can forsee in 10 years is a 5%-15% adoption (300mill-900mill population) where those people have both fiat and btc..

dont try bitplastic. its one of a number of scams owned by a guy named moriarty.

stick to local bitcoins and other tried and tested methods. see if there is a bitcoin ATM near you

bank loans = wishing money into existance from no where. then forcing you to work hard to give them back real value plus interest
mortgages = same as above
stock advice= they make their orders first, then advice you its time to buy when its them with the sell orders... leaving you waiting for your profits while they have already made theirs
replacement debit card= holding your value and you cant get it back without the physical card. so ofcourse they will resupply a new on. just like email resupply you with new passwords when you lose your old passwords.. its not backing you up, its ensuring rightful access.

seriously if you think banks are doing you a favour then you have been eating out of the sheeps grass feeder for too long

if a third party has your funds. do not think that its a privilege id they offer you security.. or replacement access to your funds.. its your right not a privilege  

welcome to the year 2010....... oh wait i mean 2014.. sorry i was as stuck in the past as the OP was

30k+ merchants using bitpay

a few thousand using coinbase

a few hundred self managing. i think you'll find it already happened.

they are just a FIAT millionaire
after all having a million USD in december makes them only have $500k today..

so thats 500k and only 100,000 coins. i do not call that a millionaire in any term.. and due to the illogical delusion of how you calculate who is a millionaire, every day they can become or drop out of being a bitcoin millionaire.

its just an illogical thing and something only teenagers would jerk off to...

art collectors and antiques traders dont call themselves 'art millionaires' as thy know its illogical to own 1 million pieces of art

thats a FIAT millionaire..

a bitcoin millionaire is someone with 1 million bitcoins.. OFFICIALLY

EG if a chinese person was a bitcoin millionaire in your delusion of logic, they would only need a couple hundred BTC

what is everyone bitching about. do you lil mouthy bitches not even research the news provided to you on a spoon..

RESEARCH the news bitches.

firstly go to http://willyreport.wordpress.com/
or
http://willyreport.wordpress.com/2014/05/25/the-willy-report-proof-of-massive-fraudulent-trading-activity-at-mt-gox-and-how-it-has-affected-the-price-of-bitcoin/

and guess what. all the documentation is still there. you can still read the whole thing from top to bottom

so dont bitch about something you dont know.

its like watching old people bitch for hours that they lost their glasses without even looking or feeling to see if they were on the top of their head,or in their jacket pocket

now have a nice day

banks themselves wont touch bitcoin. they are contracted to deal with fiat.

you will maybe if lucky get some head hunting company linked to private investment companies that may come across your CV. but if you lack forex experience they will not really have you at the top of the list.

your best bet is to make a couple websites to 'show off' your skills and then send an email to businesses just getting into bitcoin that may want coders. after all an API is simple to achieve even high school students do these as part of their IT grade. so its not really a big thing on a C.V

so try to be more impressive then an average teenager that can copy and paste code already available. make some services to show off your skills.

remember that right now the jobs market has limited jobs but alot of unemployment. so private companies will receive many many C.V's. i know of a few in a small town that gets 500 applications per role advertised. so there is most of the time, no need for companies to seek out potential employee's on CV websites. when its the potential employee's that seek out companies.

so dont be lazy and hope someone will find you. instead show yorself off and get in companies faces, really show them they need you. EG look on some exchange websites and see a feature they are missing and make a clone of the site with the feature included. 

yes everyone should get proper advise from proper tax experts. as for your example. i have not just found that one example as stupidly flawed. but your whole explanation as a flawed misunderstanding of bitcoin taxation. yes your entire explanation is flawed. so people should stick to what the IRS link shows and take those links to a tax expert.

ha ha ha

what a piss poor example to use..

translation:
2013 you paid $1000 for a bunch of coins.
now those coins are worth $3000

1) throw the $3000 of bitcoins away and yes you pay no tax, because you have made no gains(not cashed out a dime). but you will get to declare a $1000 loss which does not even offset all of your regular income. infact you'd be better off not buying bitcoins at all and keeping the $1k last year as $1k in a bank account
2) give all the bitcoins to charity... and yes you guessed it you pay no tax, as you are not cashing anything out. but again you can offset the loss. which again does not cover the standard income tax you pay for your FIAT income of other employment

now your thinking WTF is the OP proposing. why would anyone throw or donate all their bitcoins.

seriously people.. read the IRS notes properly and then seek out professional advice. never use comments on a forum as legit guidance. just use it as a stepping stone to start you on the path towards proper advice.

in inspiration of this topic

i helped 10 people become cryptocurrency millionaires in just 1 day,

it only cost me 1 bitcoin.

remember guys. bitcoin is not an american product. so when the words "bitcoin millionaire" and "cryptocurrency millionaire" terms are thrown around STOP automatically thinking of dollars.

as that is a limiting and naive thought. bitcoin is better then the dollar so stop thinking of it in terms of dollars. and if all you care about is getting enough bitcoin to sell to get back into dollars and spend those dollars, or simply bank those dollars. then maybe you truly have not embraced bitcoin, or understood the point and concept of bitcoin.

to be honest i wish the near future would bring a 'living cost" value to bitcoin.
EG
1bitcoin=1months rent for a 1bed apartment
1bitcoin=500 loaves of bread
1bitcoin=10 weeks of average car fuel spend.

where the entire world uses this calculation instead of comparing it to FIAT