I don't see it realistically happening, currently very few if any big companies use Bitcoin or other cryptocurrencies for their operations, because it's quite risky due to Bitcoin's uncertain legal status that can change at any time, so why would someone would adopt this CryptoRuble? And on practice, to circumvent sanctions you have to hide your operations by spoofing some other parties on your place, because your partners from countries that sanctioned you will have to explain to their authorities the source for their income/goods, even if it's cryptocurrency. So, privacy coins like Monero would actually be better for circumventing sanctions, because only with them you can brake any links to your real identity.
Any cryptocurrency can be creatively utilized to get away from sanctions and this is one of the many issues against Bitcoin when the government into its operation and technology. Now, cryptorubble if that thing can be legally backed by the Russian government than it can be become the digitalized version of the rubble. however, we know that if it is just another government project the chance for failure can be higher than usual. Let's see how will Petro from Venezuela can be paring as they already have it introduced. |
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Bitcoin miners based in China have been expecting all of these latest developments all along and many of them have already made up plans to finally say goodbye to China and get away from a government which is bent on gaining control in almost all aspects of their citizens' lives. And this is actually good news for the whole Bitcoin community as the dominance of China in mining can now be dispersed to other parts of the globe and there will be no more concentration in just one location. I heard that even Russia is appropriating a certain location where miners are welcome to do their business even if the country still has to accept Bitcoin and cryptocurrency as a regulated matter. The time has come to get away from China.
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This is as company that got benefited so much even with just using the word BLOCKCHAIN into its official name and actually has nothing to do with the real blockchain technology. Maybe the company decided that since the blockchain has been good to it then it is really time to really get involved into cryptocurrency as a continuing part of its story. Well, this can be a good decision on the part of the company. Soon we might be hearing more from this company...who knows they can soon be issuing their own company tokens too. I am sure many companies are now planning to also do the same thing...changing their name and some will even appropriate Bitcoin into their brands. This is the power of something which is really trending and revolutionizing.
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Hey guys: What happens when a currency market dies? Do you get your money back? How?
Nice question. very simple to answer so you are not making things difficult for me. Now, if the market dies it will not happen abruptly most likely the development will be a little bit slow so that you can still have the time to unload your hoard and take as much capital back as you can even accepting some loss. However, if you are not watching the whole thing then you can be caught by surprise so it will be good to stay updated so you can be alerted in case there is a death happening. Are you referring to the whole cryptocurrency market or a specific market for a specific altcoin? The caveat is that it can be so hard to foresee what can really be especially in the world of cryptocurrency where movements can sometimes go against the norms. |
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The whole Bitcoin network and community (all of its millions of hodlers, lovers, enthusiasts and supporters) have all been yearning for the time when the Bitcoin transaction fees can get into normal again...or better yet get into the most ideal rate much, much lower than what are being implemented today. There are news on the SegWit and the coming Lightning Network and we are hoping that these can be the solutions we are looking for. I know that just like any solution put forward there will always be convincing critics and naysayers (even within the community and this is just part of being democratic anyway).
As one of the many small hodlers and lovers of Bitcoin, do you expect that within this year we can see better and much, much lower fees we can enjoy? Or do foresee that politicking will set again and ruin everything?
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The Bitcoin transaction fee was controversial in the Pitcairn community, and reached its peak in 2017. But with the dawn of a new year, Pitcairn began its decline in network fees due to the increased adoption of the Segwit update.
After the end of the last quarter of 2017, transaction fees on the Bitcoin network began to decline recently. The Bitcoinfees.info site indicates an average fee of $ 15.79
Pitcairn or Bitcoin? Anyway, yest there is a a significant drop in the transaction fees though it is still so far from the ideal one and we should demand for more less fees. having a high fee is not what Bitcoin should be and it is quite detrimental to the future growth of Bitcoin especially as a currency -- this is a major factor why many are already questioning the value and viability of Bitcoin and the best way to stop these critics and naysayers is if we will have Bitcoin dramatically reduced its fees and transaction time. |
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Dear all: I just wonder if i can open a service as title said. Is there any suggestion / question for this kind of service please let me know ?
I am sure there is a market for this service but the question is: How will you do it without having a government agent soon knocking at your door or whisking you at the airport for questioning? Maybe you can operate an offshore banking service for this matter but even then the governments of the countries where your clients can be based at will be taking a closer and serious look on how to tag you and get you into the arms of the law. Now, am not saying this is not possible because there are now many businesses doing things underground. So the best thing to do is to plan for it, do it without telling anyone about it except your clients (just don't get into a gov't agent masquerading as a client haha!). |
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You might be anonymous using Bitcoin but there are a lot of ledgers who also keep track of your footprints in the digital platform. That is why, it is best to keep clear from illegal acts.
In the past, many of us have been assuming that we can continue on being anonymous while transacting business with Bitcoin but this is not the case anymore. In the first place, the transactions are open in the ledger available to anyone and once you convert your Bitcoin into cash there will be the paper trail and then the connection can be made. This is very true in the light of many governments who wanted to have a pie in the action (for taxation purposes and to counteract laundering possibilities). In my viewpoint, if am not doing anything illegal then there is no need to hide. Now, if we are under a freak government, there are now also many ways to play a hide-and-seek with the government. |
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The number of countries recognizing Bitcoin and other alts are increasing but in return for the recognition is that crypto players would now be paying the taxes on capital gains and maybe also on income earned (each country can be largely different from each other. We have to report and pay the appropriate tax otherwise the arms of the law will be descending upon us. Not, not so many are familiar with taxes (and many don't want to get familiar with it since it can really be a mess) and this can be reason why there will soon be a big demand for service providers either as bookkeepers or as accountant to do the filing in our behalf.
I am not so sure if Fiverr is already offering this type of service but am sure that they will soon because there is a really a demand for it. Taxation is really a very complicated issue that if we can't handle it properly then we might as well outsource the same task.
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Bitcoin and other cryptocurrencies are right now making a big buzz and though 2017 is one of its most controversial year there are still more with this industry that will continue on creating a stir as it is entering the mainstream of the population. because of its increasing popularity, countries and their financial leaders are now forced to look at Bitcoin seriously and come up with the decision either to open up their country legally or follow the path decide on by China last September. The choice is theirs to make as we individually could not do so much about it except voicing our opinions if given the chance to say anything. Certainly, there are countries which do not recognize Bitcoin and are asking their citizens not to get involved with it warning that Bitcoin can be just another ponzi in the making.
Now, if you happen to be a residing citizen of a country that is banning Bitcoin will you still discreetly involved with it in the face of some possible sanctions?
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Bitcoin transaction no, it's not possible to tax the transactions and if it was possible, the miners would be taxed. In the opposite, the capital gains are surely going to be taxed in most countries in Tier 1 and Tier 2. You bought 1 BTC at $1000 and sold it at $15,000, it's a $14,000 profit and you will be taxed based on the $14,000.
I guess the OP here is really referring to what you are saying -- tax on capital gains and maybe also income tax depending on the country where a person is based at. Taxation can be a very complicated matter and this is one of the subjects I disliked in college though I realized now that it could have been useful had I concentrated more on its study. Yes, there is a possibility that in the coming years almost all countries will be demanding and implementing taxes on cryptocurrency traders, investors and enthusiasts based on their transactions made and the gains realized. I said almost because we have to crash out countries which chose to ban Bitcoin and cryptocurrency. We should not be worrying on this because traditional investment tools like stocks, forex, derivatives, etc are also taxed and the government will not be lenient enough o exclude cryptocurrency much more so that many governments are looking at this industry with raised eyebrows. |
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Taxation can really be a difficult and confusing kind of thing. This is one of the things that I really hate and I am thankful that am in a country which has not yet implemented regulations for us to pay the required taxes but i guess this won't be for long because the Central Bank together with our SEC is already planning to come up with regulatory framework that might be passed on to the legislature for approval. For now, cryptocurrency lovers and enthusiasts are still enjoying a tax holiday.
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I would welcome the coming back of China to the cryptocurrency market but am hoping that the government would be so clear on the direction they are taking the industry. We know that last year the Chinese government decided to make a ban on exchanges and ICOs and it caused temporary setbacks to the cryptocurrency movement. Now that we have already moved on beyond China, there is a brewing interest in China to get back to the table...maybe because there are many cryptocurrency enthusiasts and supporters in China pushing for this. China is such a big market and can be one of the top markets for cryptocurrency and because of this the country can sway its everyday ups and downs.
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Yes. It's legal to shop abroad. Lots of exchanges do exclude Americans but if that is the case they will state you're not welcome on sign up. Bitfinex, Bitmex and no doubt a few others won't welcome US residents. I'd imagine the smaller exchanges like Cryptopia don't care yet. If they do you'll know.
Yes, Cryptopia does not mind at all where you are coming from as long as you can do business in the site then you can be a member of it...they need more our loyal patronage more than anything else. of course, this might be temporary as countries right now are really demanding more transparency from exchanges. USA is leading the way for implementing KYC requirements and banning other people from joining. Anyway, there are many choices right now sprouting so we might as well go shopping and find which exchanges are we comfortable with and sure that will not run away at a slight problem. |
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There is no point to continually look for the real identity of Bitcoin's founder as it was his wish to remain unknown and not be explored. It would be an insult to his wishes and maybe his legacy if we are to continue on digging the dirt just to find the clues as to his real existence and where he can be found. I am sure that this topic alone can stimulate curiosity with people who loves the mysteries and the unknown but let's leave Satoshi Nakamoto where he left off. Instead, what we should do is give appreciation to the man who pave the way for the many blessings and benefits that cryptocurrency (with Bitcoin at the top) is bringing to us. Thanks a lot to Satoshi Nakamoto. By the way, is he a Japanese?
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We live in the world where there is no guarantee whatsoever and even if someone can guarantee us anything there is still no guarantee that he can really deliver on time. The point I am making is that we live in a relatively unstable world where anything can happen even the things we never expected them to. On the other hand, this fact is making life more exciting as there will surely be twists and turns making things more colorful, alive but also sometimes excruciatingly painful. These and more are good to contemplate as we are just in the gate for another year 2018. We are still in the first week of the year and right now there is a sense of peace and stability in many parts of the world though trouble can sometimes be brewing below that meets the eyes. Nevertheless, humans have this capacity to be resilient and to hope eternally. In any trial, we know that what will not kill us can make us stronger. As far as Bitcoin is concerned, what are your fears about it? And what are the chances that your fear or fears can really happen? Please share whether your fear can be rational or just another irrational or baseless feeling... |
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You allow payments from VISA?
As far as I know, Open Money is a decentralized platform that allows applications and game developers to monetize their apps via the OPEN token. So I don't see any connection between Open Money and Visa. Someone should correct me If I'm wrong. The OPEN ecosystem is primarily working for the cryptocurrency market but it does not mean that it will not also be building a bridge between cryptocurrency and the traditional method of payments we have around (am talking about Visa, Mastercard and even PayPal and the likes). We should be hoping that this can be taken up or if not directly then maybe OPEN can have a partnership with a good provided to deal with this side of the business. I am so sure that this can be part of their overall and long-term planning because the overarching goal of OpenMoney is mainstream adoption. |
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As of press time, the cryptocurrency market is growing green with Bitocin surging a little almost now reaching $16,000 level but then there is a big chance it can soon go down to $13,000 due to lack of good stimulus on the market. There seems to be no big good news that can sway the market really up. Now, if you are looking to get in into Bitcoin just wait for it to get into a little dip. We are still waiting for news on the Lightning Network and actually before the implementation of LN is the best time to join the Bitcoin bandwagon. I am seeing Bitcoin soon going back into the $20K level which it did already broke in December and then maybe we can expect it to slowly climb to the $25K mark after the first quarter of the year. Anyway, good luck to all of us in the Bitcoin community.
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