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Logically, I think capital gains tax would apply to Bitcoin, but I'm not a lawyer nor an expert in these matters. Maybe you won't have to pay taxes if you don't convert to fiat, since Bitcoin values themselves aren't taxable.
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Faucets are not really worth it unless you have ridiculous lots of free time available. Best to just stick with buying Bitcoins or providing services for profit.
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No, they're not killing Bitcoin. Sure, they can be attributed to killing adoption of other cryptocurrency options due to all the scams out there, but then again it's a free market. Plus who knows, someone could come up with innovative ideas that can be implemented as well.
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Oh yeah, most definitely. I forgot to add that part in. I don't store anything on exchanges for more than 24 hours, at most.
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Accidentally sent a low transaction without a fee and I've been waiting for over 12 hours now for it to get confirmed. At this rate, I highly doubt it would. I know transactions are not reversible, but a nice feature to have would be the ability to cancel transactions that have 0 confirmations after a certain period of time has elapsed.
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Seems like a pretty neat idea. I don't really buy the "all around the world" pitch though. Obviously, it would be nice, but I'm skeptical. I guess we'll see as time goes on.
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The article lacks substance. It would have been nice to have something that shows the available cloud mining options, and maybe go into details about their costs and potential profit, and perhaps, as an extra, a comparison to hardware mining options.
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Welcome,
Buy high, sell low! Just kidding, but yeah, you can purchase Bitcoins at a price you think is best and make use of them, or keep them till later if you believe in the potential. The basic rule of thumb, as with any other investment, is to only invest what you can afford to lose.
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A script, by definition, isn't inherently "evil". You can write a script (or a program) to do anything, or certain things based on restrictions of the scripting environment. If you have at least basic working knowledge of the syntax in the script, you will be able to read it and figure out what it does. If you have no idea, then it's best not to accept anything you find randomly online unless it's been verified to be working as intended. Better safe than sorry.
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Bitcoin Infrastructure
There are a lot of new Bitcoin companies out there that are making Bitcoin easier to obtain and easier to use. For example coinbase which allows you to buy Bitcoins right away into an account. Around some of these new companies such as Circle who are trying to introduce things like Bitcoin banking. Which I think is absolutely ridiculous, Bitcoin was never meant to be banked.
You need to remember that most of these companies have been started by ex PayPal or ex Visa/MasterCard employee's etc. and they want their hands on your Bitcoins. So do yourself a favour and BE YOUR OWN BANK. Use your Bitcoins with companies that you really think are giving you a good service/benefit.
Is Bitstamp ok? I haven't had any problems with them yet but since I seem to pick all the companies that end up scamming everyone I'm thinking maybe I should ask you what your opinion is?  Bitstamp have been pretty good so far, and they've been around for quite a bit. They also have an independent third party audit of their finances. They do require ID verification for all accounts, no exceptions. As more established companies carry out audits, and they're made available to the public, then there'll be some rest of mind. However, you should still be careful, as it's possible for some audits to be fake. |
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ApplePay is only limited to the US, while there are lots of people in the rest of the world. So no, it's not a threat at all in the grand scheme of things.
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MtGox, man! Still haunting us up till today. It's like that STI that you can't get rid off no matter what you try.
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1. Fast transactions, but only with fees
2. Secure, but only if you've taken the proper steps
3. Ability to have as many wallet addresses as desired
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I would say it's probably because of the size of the blockchain. New adopters won't want to invest so much time in download over 30GB as there are no incentives/benefits whatsoever to running a Bitcoin node. So that leaves the people that truly believe in Bitcoin. I used to run a node on my notebook, but not anymore, since my connection wasn't fast enough for the size of the blockchain. Now, I have a couple nodes running on VPS systems, since they're relatively cheap to run.
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The maximum size of a block is 1MB, so it's going to depend on the individual sizes of transactions in the block.
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I think raising the fees for scalability would be too much. For a fee of 0.02, imagine if 1 Bitcoin was worth $1000. That would result in a fee of $20 for any transaction, regardless of how much is being sent! That's not very ideal. I think what can be done is to support a larger number transactions per block. More transactions processed = more fees collected.
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A Bitcoin is worth what the market, or you as an individual is willing to pay for it. Basic rules of supply and demand apply.
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So when bitcoin was at 300, it was the end of the world. Now, when it goes to 400, it's fantastic. People..
Personally I don't twitch an eyelid no matter the price, bitcoin is much more than the USD exchange rate.
Haha. People can be fickle. Short memories, etc. |
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I've not used the Blockchain.info API but I've been checking the chain.com API out. It's pretty good, well architected, properly documented and straightfoward. They also send you emails when there are service outages with details as to what might be happening, or what happened.
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