It's the proven fact that governments or any other institutions cannot regulate the use of Bitcoin. They can ban the companies dealing in Bitcoin business, merchants accepting Bitcoins as a payment method but imposing a complete ban on the usage of Bitcoin is near to impossible as it is distributed in nature and it's out of control now unlike the situation in 2009-10 when it was limited to the less number of users. This would push the price of Bitcoin up but I am expecting a correction soon for some other reasons.
Maybe the worst governments can do to stop bitcoin is to regulate the consumption of electricity specifically for mining purposes. This might be a possible thing because they can point out global warming. the heat that the miners are emitting is beyond normal, hopefully it don't cross their mind but still all nations should do it or miners can just transfer the equipment. |
|
|
|
|
dot com bubble was from the companies that was established and they sold stocks on the market promising that it will grow because of the demand for their products or services but because it didn't happened prices fell.
Bitcoin's price is increasing because of the demand for its purpose. No company to consider but just people who will use it. So bitcoin is way different from dotcom bubble.
|
|
|
|
It can be both legal and illegal depending on where you reside vis a vis the laws in force in your country of residence. Mind it when the prohibition applies to you. Also, mind it if it applies to whom you transact with to protect your interests. In short, we have to be mindful of our transactions so we know if we are gambling or doing business at our own risk.
Yes! for now bitcoin is still on it's honeymoon stage, not all country officials are considering it as a true currency, no rules or laws are being specifically applied to it. Maybe in the future they will be more strict on regulating exchanges for BTC. |
|
|
|
|
It will be a very long computation to do. How are they going to calculate your transactions if you have several addresses used in a year and how are they going to confirm that you are the one who used that address?
Also averaging the price before the taxes is a more complex calculation.
|
|
|
|
|
You can buy the coin anytime, it hasn't reach its maximum potential yet so the price that we are seeing will surely increase. We can't apply the practice for stocks yet as of now because there is a higher chance that price will go up rather than going down.
So if you have the funds available to buy a coin or a fraction of it don't hesitate to buy it or don't wait for the price to go down because you might regret it at the end.
|
|
|
|
Countries with weak economies and unstable currencies can use not the dollars but the crypto currency as a reserve unit. With such a statement made at a conference on the 20th anniversary of the independence of the Bank of England, the managing director of the International Monetary Fund (IMF) Christine Lagarde.
What do you think? Is it possible?
I did not heard anything about this news, nut may you are right. I have a question, buying bitcoin in this day is only being deal as a currency business and those people invest in bitcoin who have extra money to invest in bitcoin and make more and more money, how can the people with low income cay buy bitcoin and use it instead of dollars, because dollar is just a currency and bitcoin is a currency and business too? I think what he is saying is BTC to back their local currency. So their people will still use their own currency and have it's own value. I think it may be a good idea because BTC will go up in the next years, it will help poor nations to rise. |
|
|
|
I think gold is still the safest investment. But the movement of gold values is very slow, if you dare to take risks, bitcoin is the main choice, because the movement of bitcoin value is more drastic than gold. So you can get a lot of profits from bitcoin, but you can also lose so much from bitcoin.
It's the safest and no question about that but for investors who does not have enough money to risk they will look for a better investment that could increase their money in an instant and I think only bitcoin can do that, in just one year we already witness a significant increase. Gold is no doubt a very safe way of keeping your money but it cannot help you in multiplying your money. The price of gold is very much stable and it will hardly add anything in your account. So you need to go for bitcoin if you want to multiply your income. Bitcoin is far more profitable than that of gold. You should invest in bitcoin for better tomorrow. I agree that bitcoin already surpasses gold as a reserved asset. As bitcoin always increases in value, like this year bitcoin price just hit 70% of its price since the first quarter of the year and gold doesn't give you that. No wonder many people are choosing bitcoin over gold even though gold is tangible. And holding gold requires you a lot to make it safe and secured as this is a hot item. People are opting to invest on bitcoin right now because of it's potential, very small percentage of the world's population is using the for now but it's price is already on that amount. Imagine if most of the people are already using it. And aside from that bitcoin has a maximum number of supply unlike gold no one knows if how many tons of it can still be mined. |
|
|
|
Bitcoin successfully defeated China because Bitcoin is independent and China is just some entity that has no jurisdiction in cyber space. Nobody does and that's the beauty of BTC.
Yes, bitcoin is independent and really depends on the number of people who trusts it. Maybe some of the Chinese are still trading their coins or if not since Chinese was able to mine a lot of coins before and if they can't release it that only means that the supply of the coin in the market was decreased. |
|
|
|
|
I came across several threads on the forums about bitcoin as their source of income, people leaving their day jobs just to focus on campaigns here in the forum.
Why most of the people in the forum sees bitcoin as currency that you need to spend everyday? On my opinion at this point of time for bitcoin it is better to consider it as an asset, an investment that if you keep it there is a big chance that your investment will grow. Think of its future potential, at this time each coin cost $5600+ when maybe about 100 million people who is using it. imagine what will the price be if 1 billion people uses it in the future how much will the price be? And this also applies to alt coins. As much as possible keep you coins and wait for the price to boom.
|
|
|
|
|
Bitcoin will not end because the blockchain is already there. Maybe what you're pertaining to is it's value.
Value of the coin will really depend on it's use, demand from other users will dictate its value. It is like having a piece of paper without anything on it. there is no value for that paper but when more and more people decided that they want to have that exact same paper the value will then be decided by those people on the exchanges.
So as long as there are people who wants to have a piece of the coin then it will always have a value. How can we determine it's value? Depending on how many people wants it.
|
|
|
|
Government can't regulate cryptocurrencies. Cryptocurrencies are not bound to be regulated. That's what they were always saying. Because cryptocurrencies are decentralized. But they already find a way to regulate cryptocurrencies and it's users. By regulating all exchanges. This is the only way to regulate cryptocurrencies. Most transactions are being made from exchanges. So if they regulate them. They can regulate cryptocurrecies indirectly. Like Japan did recently. They are the first country which issues licence to their local cryptocurrency exchanges. Many countries will follow as expected especially China. I think they are going to issue licence for their local exchanges soon. Now exchanges needs to be evaluated and need to comply to get licence.
BTW, it's better though. As you can see the effect at the price of bitcoin. Bitcoin is surging. It can even hit up to $6000 this month. I see some people are worrying about regulating the exchanges. But for me it's a good thing because cryptocurrency will be close to government. If they worry about tax. It's inevitable. We are bound to do that as a citizen. It's better than this than to ban cryptocurrency. That's messed up.
The exchanges that they regulated is it the exchange from cryptocurrency to fiat? If this is the one it will still remain the same exchanges of crypto will still be decentralized countries still don't control it and they will just have a control on the exchanges to their currency. It is indeed a positive improvement for BTC it only means that government are seeing it's potential and that it really has a use. I'm just wondering how are they going to compute the taxes for such exchanges if the sources of BTC are anonymous? |
|
|
|
@OP. Before you even think of pursuing legal action, I'd advise you to clarify what exactly happened (I can't understand what happened from your first post) and then strengthen your case first with evidence. Lots of it. And if you're talking about getting others to come under a single complaint, you're talking about class action lawsuits. Now I do not know the law well enough but I am aware that Poloniex recently strengthened their Terms of Use to explicitly say that any user who signs up and uses their platform waives their right to such legal action. My strong suspicion is that Bittrex is no different. By signing up and using these exchanges, you probably signed off a lot of rights, if the ToS stands.
I'm not here to argue about the ethics of such agreements, just here to warn you that you should prepare yourself with clear evidence before you can do anything. Also, I strongly urge you to remain polite and courteous in your communications with them. I've seen your posts on other threads and that's not going to help you resolve anything quicker, trust me.
Obviously, my account, a verified account, has been disabled without any excuse and I have not access to my funds to withdraw or use in trade. I have explained the details in the OP, and it is very important to take the following facts in consideration: 1- I am not alone, possibly hundreds or thousands of people are experiencing a same problem with Bittrex. 2- It happened at the very moment price surge started. 3- Before this happens, occasionally, they have put my wallets, like others, in a temporarily disabled state named 'maintenance mode' again in the critical market periods. my suggestion: This site is a sophisticated scam that shows its face to portions of their user base in critical market situations. I afraid there is nothing in their terms of service to allow them seizing deposits and if they think they can use it to commit fraud, they are simply wrong, they can't! Actually it makes everything for them much worse, it is a more serious crime to convince people sign a fraudulent agreement in which they give you money and the right to not paying it back in anyway while you are pretending to be an exchange, an escrow. Bittrex has used the title "Exchange" and shamelessly continues using it now, they are not allowed to put ambiguous statements in their ToS misleadingly. It is not how things work in the financial services sector. I think what they're doing is trying to save their but in case enforcers accuse them of laundering funds. They are requiring ID's to verify the identity of account owner's to point to someone in case this scenario happens. So as long as the source of your coins are from legitimate sources no need to worry about it. Asia's wallet/exchange provider "coins" are doing this account verification from the start. They are even asking for a selfie with your ID's |
|
|
|
Traditional currency has a downside in terms of financial crisis so I think bitcoin is a solution to get rid of the consequences left due to the financial crisis in the global economy. Bitcoin network experiences world demand eventhough the countries were suffering from inflation and demonetization in the traditional currency this bitcoin and blockchain technology has played a vital role in uplifting the global economic conditions and raising the standards of the people.The increase in the value of bitcoins to $5627 shows that bitcoin can move to the mainstream of global financial markets, bitcoin has become a feasible investment asset.
I am not seeing any effect on the economic condition of countries made by cryptocurrency directly at-least for now. It hasn't generated any jobs yet. What we are getting right now is another source of income (part time job). The value that we are seeing on the exchanges are merely only affected by the increase in demand for it. Countries don't even get anything from it right now, no taxes are being collected yet. Maybe industry who are earning from it are those who produces equipment that are used for mining and those who generates electricity to run those mining. but for the normal people not much of an effect right now. But Bitcoin has a bright future ahead of it. Growth in the number of people trusting it is promising, people who were here first will have a big advantage to those who were not. |
|
|
|
I heard Robert Kyosaki is talking about the crashed of FIAT CURRENCY? when this thing will happen? how are we going to respond?
What he is pertaining to is the value of fiat currency decreasing and might eventually crash. This is already happening right now decrease on the value of you money. What Robert is trying to teach people is to invest on other assets. Fiat is always being affected by inflation rates but other assets such as stocks shares, real states, precious metals/stone and many more are not affected by inflation rates. If you can buy a house today for $300,000 five years from today it is not that same price anymore, is not just because the value of the property appraised but also because your dollar today will not be as valuable as your dollar in five years. So will fiat crashed? Most probably yes it will have less and less value. |
|
|
|
I think it will be a great idea if we start a "Bitcoin is here" thread. You go to places where they accept Bitcoin and you take a selfie, with the location in the background and the words " BTC is here " written on a piece of paper. You come back to this thread and you post the picture and you give more details about the place :
GPS Coordinates / Country / City / Physical address / date etc...
People like to have a visual experience and it will help them to find the place, if they plan on travelling to that country. You might even recognize a familiar place that you did not even know that they accepted Bitcoin.
Let's make it interesting and fun. < If you want to stay anonymous, just post a picture with the piece of paper and not your face >
That would be really fun and interesting though. You must start it first to set an example for other people so that they will do it also, but most of the people here in the Bitcoin community chose to hide their own identity and privacy as that is one of the main essence of Bitcoin's decentralization characteristics, how I wish someone will really do it because it would be fun to see different places in the world with a Bitcoin logo in it. |
|
|
|
because a risk of a nuclear war with magnetic bombs is not ruled out, we will see the technology disappear 
this is why we must always have reserves in GOLD and Money which are safe refuges!
cordially.20 If you are logically thinking that way then I can also say to you that Gold is destructable by nuclear bombs and it is not an exemption though, I think Bitcoin has no specific headquarters for some other people that has a bad intention in stealing or destroying it maybe the developers will die but there would be an another group that will continue its development in the future just like Gold. You have a point even though you are thinking crazy and everything can happen for a reason, there are so many conspiracy that people can create and give it to the Bitcoin community in their every possible way of thinking. We are all subject to die in the future though, for me, we must live our lives to the fullest. |
|
|
|
It is said that bitcoin will destroy the fiat system but i believe that if this happens the world will change completly because banks and a lot of things will go out of market.
Bitcoin is not destroying anything though, it is created by a sole purpose of getting a decentralize digital currency online that can be use by people for easier and faster transaction and so on. Maybe most of the people will use Bitcoin in 2022 and I am thinking that if the active users of cryptocurrencies in that year reaches 1 billion or almost 15% of the world population then the price of it will become much more bigger as it will become mainstream. |
|
|
|
Hi there
I have been thinking about this for a while and I have seen the same question in the Spanish thread. So, if you die do you have a plan to give you currencies to your relatives?
This is mu strategy: I have copied the paper wallets in a usb key, compressed with a password. The usb key contains a file with the instructions to guess the password (you have to know me in person). This usb has been put in my house, in the drawer, with some clothes. So if anything happens suddenly to me, I hope that my family, one day, will remove my clothes off and the usb will appear. If the follow the instructions the will keep all the money.
Any other ideas?
It is true that when a Bitcoin holder dies it goes the same with his/her Bitcoin in his/her possession, it will become stagnant forever if he/she didn't make any way for other people or family members in how to access and retrieve it, good for those people who set already their way like a last will testament but most of the users of Bitcoin are young and not old enough to think that they will die soon. I believe that there would be a company or group of people that will make a technology that will encrypt the information of a person who holds a specific cryptocurrencies then will be automatically decrypt if the person dies. |
|
|
|
Which of these two is going to fetch higher prices? What do you guys think?
BCC has failed to get high enough to be called a real contender. Will the new one beat it and get closer to dethroning the king?
Bitcoin will still stay the stronger contender above anything else after a Fork and future Forks because a copy cat will always be see as a duplicate no matter what and with that being said investors will also hesitate in supporting the other Bitcoin's altcoin because it is just a product of a split and some of them are only getting the airdrop or free dollars with that Bitcoin Gold. Dethroning the king requires a massive power and if Bitcoin's Gold offers a much more competitive and strong characteristics that attracts people to invest then there is a possibility and if not then it is just like an another Bitcoin Cash. |
|
|
|
|
Show Posts
