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Anything aside from Bitcoin or any other cryptocurrency. Fiat currency will be dominating the market for a lifetime because they are circulated by the government, anything that is controlled by the government is something we must be confident about because they are the ones who can change the world's economy.
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Of course in a situation like this panic selling will have a negative effect on the market, because the market is dominated by sellers in which there aim is to lock in profit after that all people who are now selling are avoiding or cutting losses. With a huge dump that will happen expect Bitcoin to be down in a huge way this can be a good opportunity for us to buy Bitcoin at a cheaper price but we don't know how deep Bitcoin will fall yet.
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To me bitcoin worth that time that I spend on it's making and collecting. With the current price for bitcoin I make the same money as my previouse salary on my half time work in the office. But making bitcoin I spend maybe an hour per day without transport. So bitcoin in fact more profitable to me.
It does really worth and im not making second thoughts on engaging it and same as yours im earning money almost equivalent on the rate on my work on daily basis which is really great.I do have a job and a secondary source of income which do really helps a lot.Yes,its really worth on spending time on collecting it. Woah what are you doing with Bitcoin? Because you are earning more than me with it? For it to be possible my two guesses are you are a blogger or a trader with lots of money. Any other thing seems to be possible in the online world. Either than that than you must be creating stuff because we all know that Signature Campaigns are not enough to even feed yourself for a week. |
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I would like to vote Trading. because nowadays it has many user&mainly most of the people are related to it&it's also profitable If You use properly  I think that trading is really the best source of bitcoin nowadays. I have a friend that has another source of bitcoin that is not listed on the poll that can be considered to other source. Because he is a person that manage to be in the deep web as we know people there are brutal and gets paid for their brutality but good to know that an abuser was caught today here in my country and now she's in jail together with his pedo partner. Wow, I agree with you. People in the deep web is dangerous. We better to looking for safe source of bitcoin such as trading, we are not get into jail because of trading, are we? Come on it is obvious for a seasoned Bitcoin user to fall in those kinds of Traps. Even in the normal web there are so much scams happening revolving about Bitcoin what more if there operations are run in the deep web? That goes without saying that we need to be aware that there are people who wants to earn easy money in this world we need to protect out belongings from them. |
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I agree. Bitcoin can't replace Fiat because we users of bitcoin is still using fiat for our daily lives. And the people who are using fiat don't use bitcoin so replacing fiat as a bitcoin is beyond impossible. So for know we can focus in growing our bitcoins together. Maybe in future that will happen but the most important for know is we need to focus in our earnings.
Also to add to what you just said Bitcoin as a currency cannot be supported to all the humans in the Earth because it is a limited currency, it is limited to only 21,000,000 and many of it is not yet mined. What do you think will happen if Bitcoin is being hoarded by rich people? Of course there will be an imbalance in the economy the rich will become richer and the poor will become poorer. |
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My country is a country that does not accept Bitcoin is official currency. Maybe the government feared that Bitcoin will affect the economy in a negative direction, making the local currency may devalued and it will make difficult to control the market
Each country has its own laws but I hope there will be a positive change in the near future.
The Government seems still not believing in the bitcoin as currency especially to make it as the official currency. They still consider this as an illegal business. For that reason I think bitcoin is not supported in some countries. yes I also think that government seems still not believing in the bitcoin as a currency it has a decentralised nature so no single bank or organisation controls it and why would any country make a crypto currency like bitcoin make an official currency hey are not that mad , we all know that the value of bitcoins keeps on fluctuating one single decision by the countries government would make loss of millions and thereby profit for some why would my country opt a crypto currency with fluctuating value and the government won't have any control over it so what's the profit for them to make BTC official ya government can opt BTC in future if the value remains constant or would not fluctuate so much It's not about the government not believing in Bitcoin, because we all know it virtually exist. What the government is worried about id that Bitcoin can really affect the economy of their country. It can promote money laundering because of untraceable transactions and unrealized gains, imagine if half of the population do this, than for sure that country will have a very low national budget |
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Why will they build such technology in the first place if they can experiment us on other means as possible. Experiments that don't need to involve creating a new currency in which gives us a new wave of the word cryptocurrency. If it is some kind of Human experiment than the results they will have that humanity has no single or common answer because we are separated in many ways.
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i think saving or investing is the same as if you want to invest it in the bitcoin itself and i think it is much more better to invest in bitcoin itself rather than invest in something else like gold or something......
Yeah when it comes to bitcoin saving its like you have an investment already as the price of btc fluctuates. Imagine if you've saved btc from the start of last year, your savings then became your investment already as the price more likely went up from the initial amount you saved. Nope it is not the same. Think of it this way Saving = Banks, Piggy Bank while Investing = Real Estate, Stocks, Bonds. The difference is in Saving you really don't earn anything from your money while in Investing you put your money in there to have a chance for it to grow by itself. Saving right now is not efficient because your money lose its value because of inflation. |
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As far as I know Banks don't accept Bitcoin. The purpose of banks accepting money is because they are stable and they can lend it to people to make profit from it. Bitcoin on the other hand is not stable in other words it is volatile. Banks need assurance that they can make profit from it. With Bitcoin changing price too often they can't predict accurately what they will profit from lending Bitcoin.
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for record, sell crypto and not declare the profits to the IRS is a criminal or any the less criminal act and so reprehensible. Just to say that bitcoin, as precious metals, is a good way to not be harrassed by the State.
taxs evasion is a national sport. do not get caught it is imperative. lol
It is not a national sport. Tax Evasion is an illegal thing that people do to avoid paying their taxes. For starters taxes are created to mitigate the evil arising from being rich which means they are actually avoiding what is right to keep them in balance. There is a bigger picture than you as an individual avoid taxes. Think about half of your population avoids taxes what will happen to your national budget? |
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I guess money laundering by bitcoin has often done. This is done so that the transaction can not be, or difficult to be tracked by several parties. even if its own transaction has been designed to not be detected, but, with some sites mixers, it makes the transaction is completely unknown, and this is one of the advantages of bitcoin.
Everyone can do money laundering thru bitcoin, but for sure, only small time people... But I have a doubt on how will you enter your money to bitcoin if it is big amount, for sure you will use a bank account, and by that, the government already have an idea on what you did with your money... They won't go long after that, for sure they will do a back track from that bank and before...  I don't think so. Creating several wallet addresses together with combining small deposits won't make your laundering obvious. Also Coinbase accounts can make you create new wallet addresses in one account. So what you have is 1 account with multiple addresses which will make tracking and transparency hard for the government. Anything can be avoided provided that you give proper precautions to it. |
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Paper money is only limited by earth's supply of trees At least digital currency is "backed" by the mining's ever-soaring level of difficulty. This built-in scarcity model prevents deflation of bitcoin value, raises the miners' bar for return on investment, and thereby guarantees a steady climb in price. Each transaction buyer wants to hold for a later price rise, and so on down the line. Not every trader can outwait their own need for their own fiat currency, so naturally there are trades at a loss. Whoever has the most patience and greatest wealth can end up with a large hoard of bitcoins. Mining difficulty in no way backs the value of bitcoin. Mining difficulty is only a result of how many computers are solving the algo that mints coins. Whether bitcoin was worth $1000 or $1, it wouldn't directly affect the difficulty of the mining. The built-in scarcity does not give it a floor value. If that was true, any altcoin with fewer than 21 million possible coins would have a price point higher than bitcoin. What gives bitcoin value is the collective belief by people holding it or seeking to buy it that it will continue to have value. It's just a confidence game. Well in mining there is more chance of running out coins to be mines than trees running out first. Also if Trees are the problem there is a lot of ways now creating a new fiat currency and that is the use of Fibers from fruits and other materials. Also the government does not need to develop new prints of money because it creates an imbalance in the economy. Remember they control the flow of currency in the country. |
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If bitcoin is accepted world wide to buy all the things like US dollar, then only income tax can be avoided.But, it is not the case.Every time, for buying anything, we have to convert bitcoins into fiat and so we have to pay tax for the fiat converted.To my knowledge, we could recharge our mobile and hardly buy products found in some offers online produced by individual persons. It would take a long time for us to avoid income tax on our bitcoin earnings.
Lol, if bitcoin can be accepted in the whole world then i guess a simple peron who has bitcoin can live through his life without using fiat. Eg(shopping,coffee,hotel etc) since btc is widely accepted he can pay all those through btc now the question would be is he evading tax pays? It depends on the person using the Bitcoin, because it is the man's temptation to avoid and tamper his income's transparency. That is what the government is avoiding because if our world is a Bitcoin friendly worlds than I am sure that all countries will have a lesser national budget. Having a lesser national budget will equal to less development. |
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Bitcoin has attracted me on the potential of earning money online. I have seen everything online and only Bitcoin has the potential to make me earn money without even investing anything online. Also Bitcoin for me is the only thing online that can be considered good for some kind of secondary income.
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Nope what you will gonna earn with Bitcoin is not enough to be competitive with a salary price wise. Even a minimum wage earner will earn more in their work rather spend all there time collecting Bitcoin. The amount of Bitcoin you will collect online is limited only and it won't make you rich even if you hold it for a long time.
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Maybe not to get rich, but sure as hell to earn a decent amount of money with bitcoins.
How much money did you earn with bitcoins? Or did you lose some?
Dreaming rich with bitcoin is a good motivation to those people who is a bold dreamer. There is a big chances for us to be happen if we are going to be patience to learn everything in bitcoin, from trading, signature campaign, Investing in the ico, applying campaign manager in the signature campaign that potentials. It would help if your dream is possible happening. But right now the price of Bitcoin says us that it is having a hard time to having new all time highs. Maybe when Bitcoin is worth 200$ before than you just have multiplied your money four or five times. Right now buying Bitcoin at 900$ seems to me is not profitable enough to make you rich not unless Bitcoin becomes 5000$ per coin. |
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if you live on a corrupt country much better to use bitcoin as you use fiat in all things you are doing in your life the government you have on your country would just get the tax and spend it for their personal use/trip so the tax they're getting to the people is useless so it is much better to use a currency that has no tax IMHO.
I don't think that is a good idea. As soon as that government realizes that their national income is down then they will start investigating on what is the source of the problem. Then they will later on find out it is because of people hiding their income via Bitcoin. As you can see if many people start hiding their money like that the government will notice it quickly. |
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Of course it will kill the income tax especially in the US where taxes are crazy and illegal. It could make the end of the US government and the beginning of high unemployment which will be bad for everybody. There will be a lot of chaos I think.
if most companies adopt bitcoin for their transactions, and it will make the government can not track the company's financial turnaround, so the government can not give how much tax must be paid Taxes are not crazy and illegal they are essential for running a country. A government without a source of income will not have anything to build projects for their country. Also it will not result into a high unemployment because the companies who are evading taxes have no problems in paying their employees' salaries. |
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Well on your point what the majority of people only know is that Bitcoin is some kind of dark currency in which only bad people use and is illegal all over the world. By having that kind of first impression to something like Bitcoin it can have people closing their doors on accepting Bitcoin as a revolutionary currency. But there is still hope that peoplce can change their mind and that is when other people start to use Bitcoin.
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