Is there any bank/financial institution somewhere in the world that has embraced Bitcoin? Not that I'd deposit my money there, I'm just curious to know it.
i believe there is in the world , but in fact in my country i not see yet .. Well, for the moment there are no banks that accept bitcoin, because bitcoin is not legalized officially, so, although some countries do not prohibit the use bitcoin, but it will not come to the bank, except bitcoin to form its own bank. well, but one day there may be banks that accept bitcoin. Also its not yet available that bitcoin to be accepted. i think it is because banks are afraid of frauds or scam.. and they are heard many times about bitcoin that many people are already scam that is why i think government are afraid but i think they are studying bitcoin for future to be accepted even in local business.. That's definitely the lack of information. Bitcoin itself just a cryptocurrency which is created in purpose to make your transaction in digital world easier and convenient, the only one who can scam is those HYIP services and such as that. But, honestly, i don't think that the banks is really that dumb to not realize that bitcoin is just a currency, they're more likely not thinking that way, they just seeking the safest option i guess |
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NO TAX. It's decentralized and no one have control over bitcoin. Is your freedom to use it, your money, your wallet, and your rules. Is free from any sort of others control.
It should be like that, but unfortunately the opposite is true. You hodling like $100,000 worth of Bitcoin isn't really different from you hodling $100,000 worth of stocks. In both cases you have to comply with the tax policies in your country. If you just keep hiding what you have, then it's seen and treated as a serious crime where you can face severe penalties. It's not all that innocent and simple as you may think. Obviously right. Even if you don't want to pay tax by taking advantages of the decentralised system but when you're going to buy some goods then you will indirectly give tax in your bills Although paying tax is not always bad for your economy because if you want to just live in peace without being chased by the police, just do what you're obligated to do |
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Teenagers are fond of games and other activities. Well if you introduced to your kids games that you win points that you can exchange to bitcoins they may be attracted to it. Getting bitcoins in a fun way will surely catch their interest. You may search for google about those games that integrates bitcoin in their system. Earn and Fun equals children doing bitcoin activities. Its that simple.
That's actually right if teenagers nowadays are fond of games but unfortunately they're only attracted to games which are very well developed and not some sort of 2D classic games even if it's offering you some bitcoin to get for free. I've tried many of those and no one could attract me that deep unfortunately. |
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Just received Windows 10 Home keys after sharing my story, thanks man!  |
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The problem is not all people know about bitcoins, even in my area only 1-2 people know about bitcoin. Before we encourage local businesses to use bitcoin, we need to introduce them first about what and how is bitcoin works. I'm sure they will start using bitcoin if the buyer want using bitcoin as the payment.
That's why op is asking on how we are going to encourage those people and business owners to use bitcoin. And how you are going to introduce it then? My suggestion would be you need to talk to them house to house or collect those people who are interested that has small business and have a meeting with them, so that you can explain and introduce it to them easily. That suggestion is laughable, honestly. Have you seen Jehovah's witnesses knocking house to house and then get rejected all of the time? A lot of people have made jokes about them. That's how foolish you would look like when you try and talk to people house to house. What are you going to do? Knock at a stranger's house and say, "Hi. Do you know bitcoins? Bitcoin is a decentralized crypto-currency blah blah...." Moreover, people won't just let you in inside their house for some knowledge that they can be well-versed of in just a matter of minutes of searching on google. That's indeed a joke and stupid way to inform people about bitcoin, only inform those who's really interested and just leave the rest, no enforcement to the people who don't interested and no disturbing them is a must for the sake of informing about bitcoin, otherwise it will be really annoying for them. Today everyone can just find an information through internet with ease and there's no point of wasting time and energy to do such useless thing |
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It is a matter of trust, There are many people who buy it like that but only with the most trusted trader. Most of the exchanges will ask for ID proof when you want to do transactions that big, you can proceed if you are buying legit way.  Like what you are telling about matter of trust to give ID proof to the exchanges to buy bulk quantity of bitcoins, then it should be more cautiously do transaction in exchanges with this huge of buying as some of the exchanges can block the account after they get enough fiat currency . So it is always to use a reputed exchange where high transaction are going on. If you are dealing with a reputable exchange they wont run away with your funds if its not illegal funds or hacked money.It is really possible to buy really large amount of bitcoins from exchanges but certain exchanges does have a daily limit depositing fiats apart from that it is quite possible. If it's about the exchangers I'm sure those will only require some documents but, how about the government? will they just let the big amount of money transacted through the local bank to another bank account which is outside their region? They may put a suspicious mark on you when you're trying to transfer that big amounts of money out of their banks. |
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I just want talking about become bitcoins millionaire with legal ways (the best moral), I don't want talking about bad ways (immoral) because except something illegal activities, it will make bitcoin become bad in the world
The best ways become bitcoins millionaire is must build markets are like huobi, Kraken, bitstamp and other markets ( at least it is my dreams).
But it is not easy because will needs much capital than looking for bitcoins with other ways are like, trading, mining and other ways.
And will needs much time until become bitcoins millionaire.
I think the times which is needed to be a millionaire by creating those marketplaces is pretty short, but the only things are the obstacle to keeping it, when you have an exchangers or marketplace of coins you will need to tighten your security and maximise its potential as high as you can to prevent from hacking activities which could be threatening your business and once you're hacked then you may lost millions of money |
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Because bitcoin is decentralized, so government has no control over it, only it's owner has. And bitcoin is anonymous, it has potential for illegal use, like scam, money laundry, drugs, and guns.
yes the government is too frightened to use bitcoin. this time bitcoin does have a fast enough rate movements. so they think that bitcoin can give chaos in a country's economic system. I agree with you that they were frightened to use bitcoin. And one more thing bitcoin doesnt have any identity of the sender or receiver of the money even they will not know if the man behind the account is a girl or a boy. And its being decentralized that does not make government control it which they dont want to. Well, being aware of whether the genders of someone who sending or receiving the bitcoin is a girl or a boy is just silly and stupid, there's no point on worrying something like that and it can't be included to few reason of why the government or people are frightened to use bitcoin, that's really unreasonable |
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We will never see that bitcoin completely replaces the fiat, just as the fiat could never replace gold and other metals as a store of value because each is satisfying different needs. In addition, having so many different options in the altcoin economy, there were always be those who prefer a different option to manage their economy, which reduces the chances of bitcoin to become a direct successor to the fiat.
The more option we have this world is a better place to live, but even with different options we cannot deny that there's a superior of all, and I believe fiat is more superior of bitcoin, not because of it's value but because of the number of users who patronizes it. The future might not be unseen but the chances for bitcoin to replace fiat is very dim. None can predict the future and the superior ones will eventually fall and be getting replaced by the newest, it's natural law. The more option mean high competition and it's really good for the consumer of the services. Even if bitcoin has a dim chance to actually replace fiat in everyday life but it still has a chance, don't easily lose your hope. |
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Its possible, simply search on the deep-web and you will find plenty of dealers that are selling it for bitcoins.
More and more average people find their way to the deep web where they purchase whatever kind of drugs online. It's more convenient as they don't have to deal with people face 2 face anymore as they can just order something online and have it delivered the next day. I don't really see this as something bad. People always choose the easiest way to buy drugs. Best thing online is that they have plenty of choice. The internet has brought things really easier, from things that they offered us to do, it made things better and that includes illegal things also. I hope that people wouldn't do that because it's not going to help the society. Everything has its positive and negative side so beside of its useful features offered by internet there's also something bad inside it, it just depends on how people use it and if someone who uses it has such a criminal behaviour then don't expect them to avoid those negative sides instead they're getting interested of it and trying |
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here in the philippines just explain to them that bitcoin can earn money then thats it . Some teenagers here are practically want money than other things.
probably in most of the population of Southeast Asia, most teenagers already know how to work, so I'm sure when you tell them that they can get money easily in bitcoin, I'm sure they would be interested I don't think so, most of people in Southeast Asia never taught their child to go for working instead forcing them to always learn to be a "workers" when they're becoming adult and graduated with a good score and aiming to be employee for working in an office, just minority of them will learn to earn money when still a kid while the other having fun with their parents' money |
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Bitcoin is the next step in money evolution. Same as paper post gone on the Internet and appeared e-mail, the same way paper money gone to crypto form. Bitcoin took all the best in itself from other payment instruments as paper money, gold and credit cards. yes, bitcoin is used by 2 millions of people now only, but it's only cause of bitcoin is not understandable to many people and that provokes skepticism. I am sure that soon bitcoin will be the same normal thing as credit cards.
I fully agree with you. In the near future, We can use bitcoin as fiat. We are living in this digital world and using almost the smart digital devices so that is the reason bitcoin will have a bright future. Bitcoin and fiat are both currencies having the same functional but just in a different kind of world if you think in the near future you can use bitcoin as fiat which means bitcoin will have its physical form then it's more likely not going to happen, but if you referring to the same functional but through digital world to pay things offline then it will eventually being realised |
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there are a lot of benefits to invest in Bitcoin. Even so, there are also a few downsides. Bitcoin gets you rid of capital control and for me that is the major benefit. As for the the downside, what I can tell you is that, since Bitcoin is still a fairly recent experiment there is always the chance Bitcoin can crash and lose all its value. However, and judging by its brilliant performance in the last few years, I do think that's a risk you should be willing to take.
I think bitcoin really is not risky because i believe that the price will increase more again if we seen that the price was drop these days i think the price can be still increase again back.. if you know bitcoins already in 2015 if you compare there is the advantage because the price is really increased and we are touch in 800 value and experience to hit $1k value and more price will come i think.. So there is no risk for me if you buy right now.. government still not asking for a tax for bitcoin so better to enjoy what is bitcoin right now. Bitcoin itself can be considered a good investment, due to the potential reward, but it is a risky investment. The Bitcoin market is a relatively new market, with limited liquidity compared to fiat currencies. That brings high volatility, and that's one of the reasons why I see Bitcoin as a risky investment. yeah but this has been changing. every year there is more volume and more investors apart from the day to day users that are also using bitcoin for their payments online. and the risk has been getting lower and lower. you can see from the history that in the past two years price has been rising consistently. Wake up from your dream, the latest price falling just happened not so long ago and you still say the price has been rising consistently, I honestly even doubtful that you're actually ever seeing the price statistics or not. Well, besides of that thing, I want to say that from my perspective the risk still remain the same because the volatility still high just like as usual Bitcoin getting used for an online payments is just normal as it should be |
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It can be banned, but it can't be stopped.
Right, because we are the only one that can stop bitcoin and that if we will stop supporting it. Don't think the sum of users in this forum could cover the whole actual bitcoin users out there, but it's obviously right that bitcoin need the support from its communities, therefore, it can still living up Even if government really banned bitcoin, the bitcoin users might be outside that region |
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I think the same.
Altcoin to me is just a way to multiply my bitcoins, sometimes all my bitcoins are invested in a few altcoins but in the end i sell all of them for more bitcoins.
Agreed. Most people, along with myself, probably feel the same way, and use altcoins for the same purpose. The altcoin rate of change is much faster than bitcoins. While risky, the profits can present themselves much quicker than investing with bitcoin. But at the end of the day, all of that profit goes directly back into Bitcoin altcoin rate of change is much faster than bitcoin because higher price and volume is smaller compared to other cryptocoin Exactly, the more lower volume the easier those whales could control its price, for example an altcoin that having 24 hours volume with only 10 bitcoin when a whale suddenly came and pumping it with only 5 bitcoin which is half of the current 24 hours volume then the price could probably increasing about 100% or even more. And altcoin sometimes could lost its trust by their holders so it's more volatile compared to bitcoin |
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It is established that bitcoin itself have no tax. Bitcoin transaction has fee but no tax. Probably bitcoin will have tax when the government implement taxation on exchanges and charge when you convert bitcoin.
The exchange websites that are legally operating to a certain country are obliged to pay their tax but that is no because of bitcoins taxation but they are registered as a business body in their country. Usually the fees that we are paying when we cashout or convert with them are already taxed subject to their compliance of taxation. Exactly. So it's also mean that we're as bitcoin users indirectly paying all those taxes when converting our bitcoin to local fiat thus we're not avoiding any taxes. The taxes for bitcoin users still pretty low and rare due to lack of regulation about it so, it's not our mistake or our fault to not fully paying the taxes |
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I just wondering , how can this type of mistake possible? I think fee are automatically being charged right. This is such huge huge mistake ever , I can't even imagine if that was me. Pheww. Looking at current btc price and 15 btc as fee. I'm going to shop and buy myself a rope. LoL !
Epic blunder. There should exist some chargeback function for fee blunders. As long as it only returns the fees to the sender for a specific amount and still left the required minimum fees then it's fine otherwise if the thing works like PayPal's chargeback it might be a bad idea. And unfortunately it seem that this feature is just never be implemented into bitcoin though, just my 2 cents |
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The confirmation time depend on a lot of factor like how buys is the network, the miners, the fee you send in your transaction and the use you want to give to bitcoin, if you only want to move money from one country to another then bitcoin is very fast but if you want to buy something and need a confirmation in seconds then bitcoin is slow.
I agree , It is depending on the situation. If you want to send money in other countries it is quite fast if you compare in other money sending services like remittance center , bank transfer and other digital transfer. Well, compared to bank and other remittance center, bitcoin is way faster because once it is sent it is automatically sent to a specific address. Banks double check the transaction before clearing it, and lots of regulations they must have to consider with fund transfer, there's even a possibility that transaction can be on hold or freeze. It's right if after you send the bitcoin it will directly and instantly arrived in the receiver's address but I think it's still unconfirmed yet when confirmation in blockchain system is really a thing and really important. No one is going to consider the transaction done until the confirmation arrived hence it's the only thing that make bitcoin transaction slower than ordinary transaction through bank transfer |
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These are just scare tactics without any bloody information no one can find shit and they are not providing enough information regarding the capture of the hacker.I hope they want the hacker to come in front of them and reveal them self so that they can give him the 30 bitcoins .  looks like its just an advertisement stunt makes sense and i agree with you that this is just a fresh way to have the brand advertised. noone can find who they are, if they didn't release an enough information to support the investigation and get the attacker caught up. so far nothing . If they aren't able to find any information about the hacker, I doubt anyone will. First of all, Bitcoin is anonymous and almost completely untraceable. If you deposit money at a local ATM in a non-supervised place, there's no way anyone can find who you are (except your ISP maybe, by looking over your history). Most Bitcoin 'hacks' never got info about the hackers. If bitcoin is completely untraceable then why your transaction history is saved up in the blockchain and can be traced through blockchain explorer? and Why your relay IP is recorded?. And I think that almost all of ATM in this world already have some sort of security camera because it's about money and people will always seeking the chance to get it when there's an opportunity for them and if a bank having a "non-supervised" ATM then it's as the same as letting your precious getting stolen easily by not securing it but maybe this kind of ATM still exist however there must be some skilled individual out there who can surpasses a group's abilities, some geniuses maybe. |
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well the bottomline there is that each country has its own rules, laws and regulations. if the decided to ban bitcoin due to some reasons them we can not do anything about it cause its their country, its their law.
Or we can just move to some other country, which is more tolerant to Bitcoin. A lot of bitcoin-related businesses are currently migrating from non-supportive countries to those which are more open. I think most countries also prohibit the use of bitcoin, they are almost the same reasons the government may fear the legalization bitcoin, there will be more money laundering and other crimes You must realise that bitcoin itself actually more transparent than local currency and it's pseudo-anonymous. Every of your transaction can be traced while if someone using an ordinary local currency it's nearly impossible. And also bitcoin can't trigger crimes because it's just a currency, even bitcoin doesn't have brain to spend itself LOL. |
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