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The climate change threat is very real, and I truly believe it's going to be the biggest challenge of this century. But it's not a threat to Earth, of course, but to humanity. Earth will bounce back eventually, but if humans don't to something very fast, more harsh weather changes are coming, many places will be under water so people will need to relocate, and all this will cost tons of money to the global economy. But if only fixing climate change were so simple like quitting using cryptos. Crypto mining contributes to climate change, but that's because of the sources of electricity. Apart from energy sources, there's also transportation, the meat industry, deforestation and many other things. So we have to tackle them as a compound, not focus on a drop of water in the sea.
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The minimum wage and the average income can be very different, but perhaps not that different. In my country, minimum wage is around $180, and the average income is around $350. But what's also important to take into account is the percentage of people in poverty, which in El Salvador is 30%. So 'not generally wealthy' is putting it mildly.
So maybe those having official full-time jobs are earning $1710 per month, but tons of people are out of jobs or something. As for owning Bitcoin, I do think that those having less than $4 per day per person there (and it's around 9% of the population) won't use Bitcoin because the fees would truly be abnormal to them. But as for many other people, they might still use it. Oh, but of course they won't all have 1 BTC or more, it'll be just a fraction of it. But it still counts. I think when people say 'owning BTC', they don't mean having more than 1 Bitcoin, but they mean a currency and owning even $20 in it.
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Talking about cryptocurrencies, of course, it doesn't rule out investing or stocks, in this case, of course we have to be careful in investing because investing also contains risks. The risk here is to lose funds or other assets when the investment does not live up to expectations or even fails. Yes, it is true that we cannot invest and then only expect profits without understanding the risk of loss, but to warn of all possible losses, what steps should we take?
Any investment involves risks, but the approximate risk can be higher or lower, depending on circumstances. Investing in gold, for instance, involves lower risks than ingesting in Bitcoin, but the latter is also associated with higher profits. I think that to assess the risks of crypto investments, one has to look at price charts of the chosen coin and other similar coins in terms of market capitalization. This can help understand how much can be lost and how fast. Another important note is basic safety of funds (where to exchange them and where to keep them) because losing funds due to scam is more unpleasant that losing them due to an investment. |
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Talks about buying BTC and adopting Bitcoin as legal tender on the level of national legislation are two very different events. That being said, I hope that interest to Bitcoin indeed rises in the eyes of the governments of various countries.
Regarding the US and EU comment, I believe that cryptos are already legal there, but they are treated as property or something similar and are thus subject to taxation.
Then again, it's no wonder that developing countries are more motivated to introduce favorable crypto regulations since they want to boost their economies somehow. As for developed countries, they already have strong economies and are thus assessing the potential risks and benefits when choosing their approach to the crypto industry.
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Ok, so we have seen several large companies being targeted by hackers and then ransomware being used to extort money from these companies. The latest being one of the largest meat suppliers in the world ==> https://www.bbc.com/news/world-us-canada-57318965The hackers will then demand Crypto currency payments to "unlock" the Cyber attack for these people to continue with their business. Now, most of the previous Cyber attacks have received little or no media attention.. but things have changed and these hackers are now targeting large companies and these hacks are getting a lot of media attention.  Cyber attacks linked to Crypto payments will ultimately lead to a "blanket ban" of all Crypto currencies, because this is giving the regulatory authorities the ammunition they want to ban Crypto currencies. I will not be surprised if these hacks are government sanctioned attacks (Russia) to enable governments to instantiate these bans. (Now they have a perfect excuse to do it)  It's indeed a lot of negative publicity with these oil and meat supply chain hacks. It would be better if they preferred some other coins rather than Bitcoin. At the same time, I believe that Russian hackers were linked to these cases, and they might work for the Kremlin, actually. I agree with you on this point. So perhaps asking for payment in Bitcoin is deliberately done to make its reputation worse. Nevertheless, we should remember that money is itself ethically neutral, and it can be used for legal or illegal activities. Dollar is undoubtedly used for many gruesome activities, and yet nobody suggests regulating it or thinks less of this currency because of it. The same must hold for Bitcoin. |
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That's an interesting observation, but maybe it's a little far-stretched. The ATH was established around November 2013, December 2017, April 2021. It's 4 years between 2013 and 2017, but a little over 3 years before 2021. And, of course, there's no guarantee that we'll have to wait around 4 years for the next ATH. I'd also like to add that in 2017, there were some news about South Korea restricting the activities of crypto exchanges. As far as I remember, this was actually the trigger that led to the prices dropping. Here are some articles from those times that support this idea. As for 2021, a major factor was Elon Musk's announcement of Tesla stopping accepting bitcoins. |
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You want serious people working for free? That sounds like a bad expectation you have there because professionals tend to value their time and work for good money, unless your project is related to a very good cause (like charities). As for investors, you can look for them here or on some crowdfunding website. Being open about your ideas has more chances that someone will get interested. As for followers, a really simple thing is launching a token and making a Bounty campaign in the Altcoin section, but this will just give you numbers, not a truly dedicated community. When you have funds, launching a Signature campaign on the forum can raise the popularity of this project.
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14) Israel Adesanya
13) Deiveson Figueiredo
12) Leon Edwards
11) Demian Maia
10) Jamahal Hill
9) Drew Dober
8 ) Eryk Anders
7) Joanne Calderwood
6) Movsar Evloev
5) Alexis Davis
4) Matt Frevola
3) Steven Peterson
2) Fares Ziam
1) Carlos Felipe
90 total strikes
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Accepting Bitcoin is one thing and, while great news, cannot help improve the economy of this country much. This, on the other hand, is great news, because simple procedures to get permanent residency for entrepreneurs can stimulate businesses to open or relocate there, creating jobs and boosting the economy. However, given the unstable situation and violence rates, I'm not sure how many would take this opportunity before at least some safety guarantees are put in place. Favorable tax policies are also very important if they truly want the businesses to come to them.
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Accepting Bitcoin as legal tender is a bid deal, and I think that a few more countries joining El Salvador within the next year or two is a realistic expectation. Nevertheless, making Bitcoin legal and businesses actually accepting Bitcoin are two different things. We'll see whether Bitcoin stays on the legislation level in El Salvador, but it's early to cheer just now. Also, I thought that Japan already accepted Bitcoin as a legal tender years ago, but apparently it's called property rather than money there. In any case, the legislation making adoption possible is great, but it only provides the ground for businesses and customers to catch up, and they might not use this opportunity.
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Wow, that sounds pretty tough. I've heard of the mining restrictions in Inner Mongolia, but I thought that it was a local policy, and that it only had to do with mining. Is trading cryptos currently illegal in China, or are these just some blocking activities that don't actually have laws behind them? But then again, it's true that tons of things from the Internet are blocked in China, so perhaps it shouldn't be that surprising. What IS surprising is that crypto businesses continue to operate in such a hostile environment.
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If they didn't get it right with fiat and the banking system, it doesn't mean they won't be okay with cryptos. Of course, someone working for a bank would claim otherwise because banks are interested in getting more customers and cannot admit that they might be unnecessary and even obsolete. Bitcoin volatility can be a big challenge, of course, but they have USD in El Salvador, so the prices can be fixed in fiat with Bitcoin being used as a payment. Another challenge is the fees, but luckily, they're currently relatively normal. That being said, no level of BTC adoption can solve the huge economic and political problems of this country, but banks can't solve them either.
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There are some estimates about lost BTC, and the number is around 3-4 million Bitcoins. But it's important to understand that it's impossible to know the real number and how far off the real number and the estimate are. If bitcoins aren't moved for years, they can be presumed to be lost, but it doesn't mean that this is truly the case. After all, people can have access to them and simply hodl them all this time. Then there are Satoshi's bitcoins which might be lost but are possibly not. And even when people claim to have lost access to their wallets where they had big sums, there's a chance they'll find their passphrases at some point. The only truly lost bitcoins are those sent to burn addresses to which nobody has access, but I'm not sure that even all of those were counted properly, and they make up a very small amount out of these millions anyway. |
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Congratulations on being invited to talk to students about Bitcoin! Talking to young people is pleasant when they're motivated, and if they're asking you to give a talk, it means they're eager to listen to you. I'm a school teacher, but my subjects have nothing to do with cryptos. Nevertheless, I try to incorporate some mentions of Bitcoin and Blockchain in middle school because I think it's important. I was also pretty surprised this year when 6-graders knew about Bitcoin's existence, whereas even last year I had 7-graders who didn't know anything about it.
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Regarding the taxation of Bitcoin, I would like to know your views.
I think that the development trend of Bitcoin is unstoppable. It took only ten years for Bitcoin to have a significant impact on the world. Gradually, Bitcoin will gradually enter the supervision of the government. If Bitcoin is regarded as a kind of currency, it will affect the original legal currency of the country. However, if Bitcoin is used as an investment commodity, it is bound to face a problem— -tax.
I would like to ask how other countries currently tax Bitcoin. In my understanding, it is difficult to find if Bitcoin is converted into legal currency. In China, we transfer cryptocurrency to others through Binance, and at the same time receive transfers from other people's bank cards. In the view of Bank of China, it is just a simple transfer transaction. If Bitcoin's hash address is one-to-one correspondence with the person, then Bitcoin loses its anonymity. This puzzles me. Taxation and anonymity seem to be opposed.
In my country, there's no legislation regarding Bitcoin yet, so it's not treated in any way for tax purposes. I've heard of some people registering their BTC holdings as a commodity and paying a 20% tax on it, and then not using it. Most people just do whatever they want with their cryptos and don't pay taxes because there's no procedure that would allow to do that. As MPs have to file electronic declarations and mention their assets, income, savings and property, some have declared owning BTC. And the authority on preventing corruption and investigating tax evasion said that they aren't interested in cryptos in this regard, so for now paying no taxes on cryptos is fine. |
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What is Bitcoin? Will Bitcoin be traded in all countries in 2025?
Bitcoin is the most advanced virtual reality that has become the most popular around the world.
Although this bitcoin is banned in some countries, most countries in the world have licenses to buy and sell bitcoin.
Countries where bitcoin transactions take place are being recognized as superior countries.
So I think all the countries that have been banned, those countries, if the ban on bitcoin or virtual coins is lifted, then those countries will move forward.
That is why the value of Bitcoin will go out even more.
The advantage of Bitcoin is -
Big companies can transact with Bitcoin very easily and securely. It will also increase their time and will be safe.
For this reason, the transactions of Bitcoin will increase a lot by 2025.
Bitcoin isn't technically virtual reality because it's not like you can wear a headset and see it. But it is a virtual currency that can be used in reality. Answering your question, I agree with those assuming that Bitcoin is already traded in most if not all countries if what counts is any amount of trading. However, it's traded more in some countries than others. I also think that the number of transactions doesn't increase significantly through trading because trading is done instantly on an exchange without on-chain transactions (otherwise every buy/sell order would take at least minutes and some substantial transaction fees). At the same time, as more people start using Bitcoin or start using it more actively, the number of transactions rises, and the fees become problematic. |
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I think we should focus not on the sum of money that was made (because it depends on the initial investment which, in turn, depends on how much one could afford to invest based on the financial situation), but on the stakes (I mean 2x, 10x profit etc.). My biggest was 15x with Litecoin (from $15 per coin to $300 per coin), and there was about 8x with Ethereum as well. But the sums were very small, so the winnings weren't a huge deal to me. I've also had about 5x with Bitcoin, come to think of it, but I keep disregarding it when thinking about gains somehow.
One of my big fails was with Doge as I've planned investing in it about 4 years ago and organized a separate Dogecoin wallet for it. But somehow I just forgot to buy the coins and transfer them to this wallet, so that's a missed opportunity.
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I'm not a fan of altcoins, so my list is very small. Most of my crypto hodlings are in BTC because it's the safest way to get profits from the crypto market and because I happen to use it more often than any other cryptos. I also have some Litecoin I bought many years ago, just in case it skyrockets one day. I used to own Ethereum but sold it because it's a little more risky and less profitable than Bitcoin. My newest purchase for 1 Polkadot because it's currently down and I think that it can easily become #5 if not #3 by market capitalization, being a popular project with a strong team behind it.
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