I haven't seen anyone paid tax using bitcoin here in my country especially when you consider that most of the population here does not even know about bitcoin. Due to that case, I guess that our government is slightly lenient when it comes to the implementation and execution of laws relevant to the usage of bitcoin. But according to my colleague who interviewed the lawyers at our BSP (Central Bank), bitcoin in the Philippines is being categorized as 'property', thus making it not subject to legal tender (paying for debts). Also, the bitcoins that you earn from mining fall under the category of 'other income' making it taxable. The problem is, I do not know anyone here who mines bitcoin due to the exception of having a super powered computer.

Still, it is advisable for an individual to keep their present jobs while at the same time pursuing bitcoin as an alternative way of earning income. The skills, knowledge and abilities you gain from your company outweighs the income you receive from bitcoin alone. Not to mention, having a stable income every month requires you to meet your monthly obligations while having extra for your savings. In the event that you leave your job and pursue bitcoin as your main source of income, then you are relying on a very volatile, decentralized and unpredictable currency that may make or break your situation. Again, do not leave your job as you always have the option to serve two worlds at the same time.

Though you may be right but who does not want to risk the opportunity of being rich with cryptocurrencies? I am from the Philippines and I heavily understand the implications of investing into bitcoin. Being in a third-world country is very difficult to manage especially when you are surrounded by corrupt politicians. You are going to exert all the means in order to alleviate your current situation and bitcoin may be the ladder in order to take the first step towards being successful. I am not saying that bitcoin will make me successful, but personally it already changed my way of living in terms of giving value to money.

About the situation of being hyped, I also want to know on why did you choose Indonesia and the Philippines as the catalyst to this conflict. In the Philippines, most of the population are under the poverty line and only a handful of people know bitcoin. Also, there are a lot of DEVELOPED countries that contribute to this situation and not only the PHILIPPINES and INDONESIA are responsible for this. Though I want to be objective as possible, you really need to check the facts first before making a thread that damages the integrity of these countries.

This primarily depends on the abilities, skill, and determination you have when it comes to trading since it may involve a series of requests that differ from one service to another. Some people might require you to make campaign signatures for them or to translate certain sentences to a specified language. Though the pay may be high, you are also dealing with risk since there is always the tendency of your client scamming you after you are done with their requested service.

Holding bitcoins on the other hand requires time and patience. Though the risk might be similar to trading, holding bitcoins is based on the price of bitcoins in the market. In the event that the price drops, expect your coins to drop in price as well. It really depends on what you prefer to do but personally I would suggest holding and doing trading at the same time to maximize outputs and profits.

Providing a bitcoin bank to a decentralized currency is impossible and people would rather keep it onto their wallets due to other related banking fees that might escalate in the future. I mean, what's the purpose of the bank anyway? Though one might argue for the enhancement of security but this would only lead to conflict within the government agencies especially when you accept a currency that has been viewed as foreign to other countries as well. Also, accepting bitcoin into a bank where its price is highly volatile would only result to a disruption in the market and has the potential of doing damage in terms of its price.
People would rather store their bitcoins in a hardware wallet rather than storing it into a bank that has potential fees in the future.

Seriously, I do hope that more people should similarly think like you. The problem arises when they feel that gambling can be profitable in the long run but in reality, it isn't. I do understand that it is very hard to resist gambling, especially when the returns are significantly big with a short amount of time. You may have the potential of doubling all of your bitcoins but there is also the chance of losing them one-by-one especially in a losing streak. This creates an endless cycle of hope, that they think that betting more would regain there losses but will only lead to them exhausting everything.

Well a crash is definitely the best time to buy bitcoins due to the decrease on its price. If you consider the price history chart, you could see that bitcoin has been increasing consistently making the price of it tomorrow higher than today. Due to this natural occurrence, the best time to invest is really the time that you have the money to invest on. But like what the others said, the ideal time to invest is during a fork or a crash. Just wait a few weeks/months and you must also do your part by checking the news regarding bitcoin for announcements or world-wide declaration that may affect its price.

The question is, what kind of investment do you want to make with your bitcoins? Do you want to hold and store it for its value to mature more or are you considering on investing it into cryptocurrency websites such as usi-tech.info, etc.?

If you want to hold your coins for the moment in for extra security, I would choose on providing myself with a hardware wallet so that no one can ever hack it. Second, you should be ready when it comes to investing your money and you must consider it as money that you are willing to lose. Third, you must be updated with any relevant news to bitcoin since you might want to consider the right time to invest it. Lastly when you followed all of the necessary steps, just pray and hope that you yield the profit that you are hoping for.

You know what, my mom always tells me that I should always look forward into investing my money at my current age (college student) since regardless of my investment gaining or losing profit, the damage of losing my money is tolerable compared to people who have obligations to consider.

I think the answer primarily depends on the laws and regulations of the country that you are staying. The scenario given is very situational, yet intriguing since this things seem to happen commonly. To give you an example, to government agency of my country (Philippines) sees bitcoin as property, therefore being subject to hacking equates to stealing which is punishable under our penal laws. Though proving and getting the culprit might seem impossible, if proven guilt then the individual may face charges against him. Again, this is really dependent on the country that you are staying since some government agencies have their own agenda/perspective when it comes to bitcoin so you better check-it out first.

This is what I have been telling countless of times when it comes to a losing streak. Generally, people would want to win back their losses, hoping that they can regain their money by betting again but at the end, they tend to lose more. Before you gamble, you must first establish the cap of your winnings/losings to avoid any further damage to your resources. The first rule in gambling is knowing WHEN to stop, regardless of you winning or losing.

Personally, I would suggest that you should stop gambling and focus more on methods that will yield you profit in the long-run, rather than relying on the short and risky methods like gambling. Based from my experience, my friends tend to borrow money from me for their gambling and it only lead to their debt increasing more. Stop gambling before you regret losing all of your resources slowly.

The question heavily lies on your goal as an investor. This also depends on your financial status, whether or not you have present obligations to consider or pay monthly. Now for short-term investments, it is ideal to invest in this way if you have daily/monthly obligations to meet since you get the most of your money in a short amount of time. For long-term investments, this is for the people who see their bitcoin as a future asset and they consider it as money that they are willing to lose. Since our investments lie on the price of bitcoins, you may also want to check the price history for reference on your decision.

Also in our country, bitcoin is being regarded as property thus making it impossible for legal tender. Currently, there are no laws prohibiting the usage of bitcoin but mining bitcoin falls under the 'other income' category which is taxable in our country. Fortunately, I own my bitcoins through participating into campaign signatures and through investments. The question is highly dependent on the country of an individual and is relative in terms of scope of each governance. There are countries out there who imposed tax regarding the utilization of bitcoin and you should also check your country regarding the laws to avoid any future conflicts.

This depends on the laws on respective countries when it comes to taxable incomes and it will also depend on the scope of each government agency. My colleague interviewed the lawyer at our BSP (Central Bank) and asked if whether bitcoin is legal and taxable. They said that here in the Philippines, they see bitcoin as property, thus it is not subject to legal tender. Also, mining bitcoin falls under the category of 'other income' making it taxable. Since I do know anyone here who mines bitcoin, I really cannot answer if how they declare it under their income tax return. Bitcoin profits are an isolated case where it varies depending on the situation given.

If an asset increases its price tenfold in less than 1 year, investors likely think that it will be a bubble since the faster its price increases, the faster that it will soon pop in the market. Also, big financial/investing companies tend to give their opinions on bitcoin stating that it might crash soon. Well, they might be saying the truth but i am clinging on the fact that they are creating news that degrade bitcoin so investors will pull their investment off, resulting to a decrease on its price. But who really knows? Maybe they are definitely right or wrong, but you can never go wrong into investing today in bitcoin as it continues to rise on the market.

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Provided under this list are the respective countries:

1. America
2. Canada
3. Australia
4. Japan
5. Singapore
6. India

The reason on why those countries are a suitable place to set-up a bitcoin business is due to the government, accepting its regulation and payment. You can never set-up a business on a country on where they prohibit the utilization of cryptocurrencies in the first place. Second, most of those countries have business establishments that accept bitcoin as an alternative payment. Lastly, due to its constant increase in prices, expect more countries to accept its utilization. Better to start your business now rather than wasting its potential opportunities in terms of price growth.

Source: https://www.investopedia.com/articles/forex/041515/countries-where-bitcoin-legal-illegal.asp

It really depends on the reason on why bitcoin has been terminated from the cryptocurrency world. If the reason is due to people, losing their interest and they stop investing/transacting into bitcoin and switched to another cryptocurrency, then other altcoins will remain. But if the reason is due to an intervention of the government, a world-wide sanction, ruling or law banning the utilization of any cryptocurrency around the world, then expect all altcoins to slowly lose their value, and eventually disappearing from existence. It definitely is possible but it is very highly unlikely, considering the positive effects that bitcoin provides in the society.

I observed that a lot of people are asking when is the best time to invest and many seem to find confusion for it. You asked this question last November 20, 2017 if bitcoin prices can reach $10,000 by the end of the month and the answer is YES. Currently, the price is around $9600-$9700 and it may soon reach the $10,000 mark by the end of the year. Back on my question, if people invested today they will inevitably earn profit in the long run!

One factor that determines the price of bitcoin is due to the law of demand and supply. Not to mention, big trading companies are starting to accept bitcoin as their trading option which contributes to the price increase. Soon, people on wall street will definitely not ignore bitcoin and we may soon see it as one of the biggest cryptocurrency ever.

Bitcoin's price is heavily influenced by time and the number of investors. As time passes by, people start to recognize its existence due to the blockchain technology of transfer of money. Not to mention its decentralized nature, people used it as the main currency under the dark web, which heavily influenced a lot of abusers into buying bitcoin. Slowly, people began to realize bitcoin's existence and a lot of investors are risking their money due to its high-risk, high-reward factor. Lastly, the supply and demand of bitcoin determines its price on the market due to its 21 million cap.

There have been recent news regarding some scamming of cryptocurrency (confido.io) that after their ICO, $375,000 were stolen and the founders cannot be traced. Well, situations like this are common in the crypto world, considering its nature of decentralization makes it difficult for it to be regulated by the government. The bitcoin community is inevitably rising due to its price also rising on the market. Big trading companies like GME Inc. has started to accept bitcoin as one of their trading options. This is to be expected and definitely, it brings a positive note on bitcoin as it gains more acceptance and usability.