Need some help!
I registered my business with fincen , but i have no state licence , I have alot of illegal immigrants that want to buy bitcoin from me. My question > Can i sell bitcoin to illegal immigrant? or should i have a no-action letters? they are not resident or us citizen. Those illegal immigrants got us bank account .
There is no law which can stop you from selling bitcoin to an illegal immigrant. These illegal immigrants can even buy houses through ITIN route because there is now law that states illegal residents can't buy a house in US. So you are good. Just ensure to have their ITIN numbers as a proof to ensure you have not sold your bitcoins to undocumented aliens. But I believe you need to have a separate state permission in order to even start operating. Please have a discussion with lawyers before you even start selling to legal people.
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Lol. My math says that you make money and users send traffic to the site. I register and pay 0.01BTC I refer 5 People that each pay 0.01BTC So with this little Example. I have made 0.015 BTC (in Profit after my initial "Registration Fee") and you made 0.035BTC for doing absolutely nothing. Yeah ok, this is one of the craziest, most stupid sites I have seen around. And all of this is manual too? ![Roll Eyes](https://bitcointalk.org/Smileys/default/rolleyes.gif) Pyramid schemes are like that only! The person sits on the top gets the most money out of it and remaining people get penny compared to their effort. After some days when the pocket of the top guy filled, just leaves the system! The biggest mlm scam right now ongoing is known as Qnet. Do some Google search to understand how they are fooling people to invest huge amount of money in the system.
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Well, my question is the following: will people still use Bitcoin if they never get rich out of it or just dump it and move on? I honestly thought that even banks working on digital currencies might push for a larger Bitcoin adoption, but a national digital currency will be easy to use compared to BTC. Besides this, there is a degree of so-called "safety" these currencies will provide, I mean you'd probably be able to recover it much easier than BTC..
Anyways, maybe I'm missing something out of the frame. I honestly wish BTC will someday become the majority's interest. I guess its mission is now divided in two paths: one going towards anti-crypto regulation and one starting from an increase in people's interest towards privacy I sincerely want the same. I want to see people's increasing interest towards bitcoin for good. But lack of clear regulation is one of the major bottlenecks towards this achievement. With CBDC's implementation, I believe some additional clarity would be given from policy perspective. But i don't really expect a lot here! CBDC will definitely be easier for the commoners to use and understand. But you have to remember that, CBDC will snatch the privacy rights from you. Probably, that might help towards crypto adoption to some extent. Let's see what the future holds for us!
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1. How do we evaluate capability and credibility of some entities or individuals that trade for people or some professional traders who trade for people? All of them are scams! If some professional trader has the capability to trade and earn a good amount of money every single day/month, why he would need other people's money? This is the first thing to understand. The behavior is very similar to ponzi schemes and must be avoided by all means. 2. I've seen some Telegram group that sell trading services and signals advice. How do we know if they are good to do business with?
3. Is Telegram escrow system a scam or not? Same answer is applicable here as well. If someone has the capability to predict the market, he will use his own money to become rich. Why he would sell it to the public for a little fees? I am not sure about telegram escrow system. Do you mean it is an official feature of telegram? I haven't seen anything as such!
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Truth.
Unfortunately far too many people are in Bitcoin for the sole purpose of getting rich.
Only a small fraction of people actually transact daily in cryptocurrency, rather than using it for speculative purposes.
I don't see anything wrong in that! The willingness of become rich is one of the major reasons for many people associating themselves with bitcoin. Probably a major percentage of the community. What's wrong in that? The people can't use bitcoin in daily transactions for a number of reasons like low acceptability and unclear regulations. Not everyone is fortune to live in countries like Japan or Germany. However, it doesn't really matter. Over time, the network will continue to develop and get stronger, and when the time comes when the traditional economy collapses, Bitcoin will be built-up and ready for the task of taking over.
So long as we can build Bitcoin to this point, no matter how, then it should still achieve its purpose when shit really hits the fan in the fiat world.
"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks" <- this was inscribed by Satoshi in the Coinbase of the Genesis block. Sounds a lot like the world today... So we've got some work to do because I don't believe Bitcoin is ready to handle the load of mass adoption yet.
Bitcoin is too small to be considered as a world currency. It simply doesn't have the capability of handle such volume. Things like LN, will definitely be helpful in that. But as of now, I see prepaid cards are a very good example of how we can slowly push the bitcoin for better adoption. It's just a 11 year old kid. Give him time mature!
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Possibly yes, if the price doesn't increase or remains at the current level. So purchasing bitcoin from the market instead of mining will be cheaper for the majority of the miners. But those who are using alternative sources like wind power or solar panel will be exceptions for obvious reasons.
So to sustain the current mining profitability, the price has to double as the reward will be halved. But if large number of miners go out of the business - no one will escape the suffering! Expect increase in fees and longer waiting time as an immediate result of upcoming halving.
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its been stated now, that during April, if BITCOIN can remain above $7700, we are looking at $8500 as the next stop. If countries slowly eliminate COVID completely, will it help boost bitcoins price even further or serve to deter bitcoin from increasing?. This is when the governments have no more COVID to worry about and focus on rejuvenating their economy. They would start implementing their own CBDC and digital currency like China probably this year as well. Will this be the true cause of the fall of bitcoin, or will bitcoin and crypto be integrated into their banking system?
CBDCs can't be a reason for boosting bitcoin's usage or its price. The only reason can be the upcoming halving which would happen in next 14 days. Even if we don't see it happening just as yet, it will definitely work positively post the current Covid-19 situation. The liquidity in the market has to increase in order to achieve growth and with current situation it doesn't seem to be possible!
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There are number of reasons why bitcoin has not yet been adoted by the mass as a payment method. Look below,
1. Price volatility 2. Time required for confirmation 3. Lack of clear regulations
While the 2nd issue mentioned above, can be taken care through innovation like LN. There are services like Bitpay and Polispay where ypu can get a prepaid Mastercard which can be used at any POS machine.
But fluctuation and lack of clear regulation remains a challenge till date.
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Have you noticed that almost all sites started to implement kyc / aml , eu cookies junk,cops started to arrest people for saying stuff on facebook or other social networks ,websites are getting shut down by govs and so on ...
the internet is becoming very very regulated ,how do we fix it ?
In my opinion we got to find a way to decentralize the internet ... anyone started working on this ?
there is ipfs ,swarm but still ...
Use VPN and TOR browser. You are done! It will give you an extra layer of security from displaying your identity over the internet. Ideally TOR browser alone can fix this but just to add a new layer, you can use a multi-city VPN. That's simple! However, I don't personally support illegal things done on the internet!
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1. is the problem in supply side? are sellers worried taking payments via BTC bcas of volatility
Yes! It is one of the major issues. Due to the high competition in the e-com market, all stores are forced to keep their profit margin lower. So it is very difficult to sustain a business with such a small profit market and huge price volatility. 2. is there a logistically inefficiency, that smaller sellers can never compete with the likes of amazon No! We have big players available in the logistics industry to help new businesses. They are even ready to provide discounted rate if you are just starting out. So logistics is not an issue whatsoever. 3. is the transaction speed an issue for retail transactions?? major cards payments are done instantly (maybe this speed is needed for impulse purchases ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) ) Somewhat true! However, we have services like Bitpay, Polispay to overcome such issues. Even LN has already started functioning. So speed issues can be taken care. There is another one issue you have missed out - Crypto regulations. If we leave some countries like Japan or Germany or even US, majority of the countries don't have any regulations around crypto currencies. For majority of the countries, crypto is not even a legal form of money. That's what needs to be sorted out first if we really want to see a big marketplace in crypto market.
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So why would these free tokens ever be worth anything? Is it going to be adapted by people to use for what, payments and in the future it will have value? Just because it can be mined on phones?
I've seen this spammed a lot lately and I'm not getting why people would use this. The only people who has reason to promote it is those who get the free tokens early on in hopes of it being worth something later.
Yes of course we hope it will be worth something, but best thing you need to invest 0$ so you lose nothing if this is worth nothing and project goes down. Why I believe it can have success is that it is different from other mobile coins, Electroneum for example which uses proof of work and puts heavy pressure on your phone and battery. Mining pi is effortless because of their consensus algorithms. If its so easy to mine it will be worth nothing. This is a scam. Like webcoin. I have the same feeling. It only takes a smartphone to mine and nothing else. Everyday you will have to open the app and continue the mining - that's it! I don't see any real life utilities either. Also the web development team is super slow. They took around 7 months to release their node. So I don't see any reason to continue mining this coin. As soon as it is listed in the exchange, people will sell of their holdings and get out of it. A simple mechanism to make money by the developers it seems!
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maybe for developed countries and internet facilities that support it well, transactions like you said will not be a problem. because obviously it is helped if a bitcoin transaction can do that. but there are still many on the other side the country still has not received the internet network properly, clearly cannot recognize bitcoin for a transaction. for me the bitcoin transaction actually makes it difficult because of the familiarity that has been done. it's better to trade with fiat and then do all the transactions.
In a country that doesn't have interest infrastructure, probably won't have Visa or Mastercard infrastructure as well. Even with proper internet connection, a lot of countries have failed to recognize bitcoin as a method of payment. There are major countries as well where there is no clear guidelines provided for crypto transactions. In such areas, services like Bitpay or Polispay can bring good changes. It makes sense because you will have to load the card using cryptocurrency and swipe your card in any POS terminal wherever you want. It brings mainstream adoption closer to the mass.
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After the last halving before four years (2016) the industry has changed 360 degrees as cryptocurrencies — and Bitcoin becomes more popular. Cryptocurrency is becoming part of the mainstream and is used as one of the utility options. It was presumed that with this halving Bitcoin price will go up, but due to the ongoing pandemic of Coronavirus situation is changing drastically, therefore, now on the basis of these scenarios it will be interesting to see that, what this Bitcoin halving bring? Does the Bitcoin price go up or down?
Ideally yes! The bitcoin price should go up before and post the halving. However, liquidity is also important at the same time. Looking at the current situation the world is facing, it seems hard at this moment. because the price will only go up if the liquidity in the market increases along with the halving. If we don't see liquidity entering into the market, then the price increase may not sustain. If you want to look at the past price trends, you may look at the below picture, ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FRwQmJmb.png&t=665&c=H3GYrBqNw5dyTw) ref: https://www.coinmama.com/blog/the-bitcoin-halving-a-history/But please don't assume that the past performance will be repeated this time, because we are going through an extraordinary time.
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Looks and sounds good! However, what's you plan after it?
I mean, are you going to create a full fledged documentary on bitcoin? Or is it just this one video?
If you are good in video editing, probably you can consider making a full documentary on bitcoin. Information is freely available in internet, just need to create a visual representation.
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Some of Bitcoin’s critics never miss a chance to announce the upcoming end of Bitcoin. Does it really matter? No, not really! Probably such self-proclaimed critics can influence some very minor percentage of bitcoiners who are new to this space. But those who are associated with bitcoin since a long time, don't really give a shit to such critics. In my long association with crypto market, I have seen hundreds of such crooks who come and go, but bitcoin remained unharmed and untouched by such critics. There were only two incidents where bitcoin was really affected by such critics when JPM CEO Jamie Dimon and Berkshire Hathaway Chairman Warren Buffet criticized bitcoin. But the market quickly came back on track and never responded to their comments thereafter! We have made ourselves secluded from such critics and their comments.
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You can say in more detail why blockchain technology can repel this dangerous disease caused by new virus strain Corona. I only know that scientists specialized in microbiology can develop vaccines to prevent this virus for the world community. And it will take at least a year for the vaccine to become available for this new strain. That will create a new global economic crisis.
According to the WHO report, there are six corona vaccines that have been registered. Three of them came from Chinese laboratories. Three vaccines from outside of China plus 1 vaccine from China are still being processed in stage 1. While two vaccines from China, one is undergoing stage 2 while the other one has completed stage two and is ready to be produced. considering stage three is a precautionary measure by comparing with similar vaccines for the same disease. Considering that there is no corona vaccine yet and because of the pandemic clause the three stages maybe skip. The rest is just a permit for marketing authorization. https://www.scmp.com/news/china/society/article/3080929/coronavirus-clinical-trial-begins-third-vaccine-candidate-china That's the only ray of hope right at this moment. Even Oxford university has started human trials of their own vaccine. https://www.genengnews.com/news/uk-starts-oxford-coronavirus-vaccine-trial-as-germany-green-lights-clinical-trial-for-biontech-and-pfizer/Currently, only Plasma transfusion was proved fruitful against this virus. But the way it is ongoing, it seems like the virus is going to stay for long. Some specialists predicted that the virus will show its presence up to October this year before slowing down. We can't really do much about it. But we will have to adopt a new way of living post this pandemic. But one thing is definitely going to happen. We will see a fresh surge in e-com businesses around the world. People will be more interested in buying from the comfort of home instead of going out. So there will be new opportunities opening up for the IT and logistics professionals in the near future. But these are all we are assuming tight at this moment. Let's just hope for the best for the humanity!
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Clear tax has made this calculators based on assumptions as there is no official rule is present in India about cryptos. I see they have taken capital gain/loss route which is probably the ideal way because majority of the crypto users are HODLers. However, if someone is earning bitcoin through freelancing work, the calculation will change. Like, I earn from signature campaign and few more affiliate incomes and content writing incomes, so the capital gain rules is actually bad for me. We can disclose this income under 44ADA of tax rules. It is specifically designed for the freelancers and especially helpful if the income is less than 40 lakhs every years.
Do a little research on it and you will see the benefits around it. Also don't show any income on your crypto holding until and unless you are converting them to INR. There is not tax regulations made in India to hold cryptos. So doesn't matter how many bitcoins you hold, show only how much you have converted.
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There are number of reasons why bitcoin is not adopted by mainstream businesses. But we will also have to remember that bitcoin is just 11 years old and the kind of appreciation and adoption it has already seen among the world mass, is enormous and very encouraging. But we still have a long way to go. Let me point out few reasons which I think is hindering the progress of bitcoin towards mainstream adoption,
1. Price volatility - I believe it is one of the primary reasons why bitcoin is still have a long way to cover. While the price volatility makes it an wonderful asset for speculators, at the same time, it fails to capture the attention of the mainstream businesses where price volatility is a big business risk. Probably fortune 500 companies can sustain such volatility, but not the marginal business sector where profit ranges anywhere between 3% - 10% on products/services.
2. Government regulations - It is another big reason why bitcoin has not received much interest from the organized sectors. Such businesses usually don't do anything that is not permitted by their government. So they always look up to their government to regulated and make bitcoin legal. Clearly, majority of the governments have not done it yet and that's what hindering the adoption among the organized business sectors.
I believe these two are the biggest reasons of the hindrance. However, I strongly believe that bitcoin will start gaining traction towards a positive way post this covid-19 situation. Let's hope for the best!
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I have been playing the traditional gambling games but i have observed that crash game is more risky than the other gambling games. I always feel more greedy while playing a crash game and this make me lose more money. I think i have lost more money in crash games than any other game.
What is your observation on this and do you prefer other gambling games over the crash games ?
Every gambling game is risky if you look at it from the viewpoint of making money! Every gambling game is nice if you look at it from the viewpoint of entertainment. So you have to choose the boat wisely before setting sail. Personally I have played few times in Bustabit and made nice money - probably because I never tried to be greedy! but it all depends on you and your risk appetite. Try to keep the multiplier less than average and you should be good to go!
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