No i dont think that Bitcoin will replace dollar soon .They both will rather be in action at same time.Dollar is a form of fiat money which means that it has a physical form.So it is more easy to use it in any shop.It is decentralized in nature that means government has no control over it so government will not allow any such currency to replace a traditional and a trustworthy currency like dollar.So according to me it is not possible.
Bitcoin is already a universal currency due to its decentralized nature. I strongly believe that by 2025, bitcoin will be legalized around the globe and will be the sole international currency of the world. Bitcoin has all those quality that the today’s world full of technology demands from an international currency. Dollar or any other paper money is nothing in front of bitcoin in any matter. In my own point of view BTC is most likely will replace US dollars as most recognizes currency of the world since US dollars is start to decline because of euro currency. but this currency represent a countries that controlled the world economy, But BTC is unique because it has no country of origin or represented, it has no boundary and decentralized in form, and its value start to sky rocketed as of now its slowly compete USD, in few years ahead maybe it would replace USD as an American Dollars nor European dollars but Peoples currency |
|
|
|
No i dont think that Bitcoin will replace dollar soon .They both will rather be in action at same time.Dollar is a form of fiat money which means that it has a physical form.So it is more easy to use it in any shop.It is decentralized in nature that means government has no control over it so government will not allow any such currency to replace a traditional and a trustworthy currency like dollar.So according to me it is not possible.
Bitcoin is already a universal currency due to its decentralized nature. I strongly believe that by 2025, bitcoin will be legalized around the globe and will be the sole international currency of the world. Bitcoin has all those quality that the today’s world full of technology demands from an international currency. Dollar or any other paper money is nothing in front of bitcoin in any matter. In my own point of view BTC is most likely will replace US dollars as most recognizes currency of the world since US dollars is start to decline because of euro currency. but this currency represent a countries that controlled the world economy, But BTC is unique because it has no country of origin or represented, it has no boundary and decentralized in form, and its value start to sky rocketed as of now its slowly compete USD, in few years ahead maybe it would replace USD as an American Dollars nor European dollars but Peoples currency |
|
|
|
I have the dream of getting rich with Bitcoin. Although I could not get rich enough, I could earn good. For 4 months I used Bitcoin. I have a lot of hope from Bitcoin. It helps me a lot. This one day will make me rich.
I start working BTC to fulfill my dreams to be financial independent because as learn about BTC it make believe that I have a brighter future with it. I witness how this currency grows and how the value sky rocketed, because many investors fell interest on it, because they understand the flat form, hopefully in the future I can see myself and family successful. |
|
|
|
Can bitcoin take Fiat's place in time? Suppose it does? Can govetment step in and stop this program?
Its not possible to do , bitcoin is decentralized and no one can stop the transaction or a specific address from functioning. We switched from cash to credit cards and I think Its safe to say that cryptocurrencies will takeover in the future but probably governments will create their own digital currencies that are under their control. BTC is decentralized because of that the transaction is peer to peer from one PC to another Pc and its readily be transferred to any one with direct transaction without third party or service provider to transfer your money with enormous charges. And it has no boundary you can send it around the world. I don't know if the government has the capability to trace the flow of BTC transaction in the internet specially that everyone is anonymous. |
|
|
|
Despite of bitcoin popularity worldwide there are still a lot of country that doesn't accept or use bitcoins as payments just like our country. We know about bitcoins and many filipinos are actually earning it but we still have to sell or convert our bitcoin to our local money so that we can use it. There are no businesses and merchandisers accepts bitcoin here. So i can say that its not yet a global currency. I hope someday we can use bitcoin anywhere we go.
You should change bitcoin into your own currency because that is not the official currency of your currency most people don't know it yet, specially that the government is not formally recognizes BTC as the medium of payment while you are doing transactions in your locality. Like also when you have US dollar or other currency you should also need to change it in your local currency to do business in your locality.the important things is we have a local exchanging site that change BTC into local currency. |
|
|
|
Here in my country which is now an upcoming tiger economy (though we are still classified as a third-world country), we are free to participate in Bitcoin both buying and selling as the government is treating Bitcoin just like any other foreiign money.
However, I am sure that only a very, very small fraction of us are declaring our Bitcoin income. It seems to me that the government is not that interested to get strict with individuals as long as they can tax the Bitcoin exchange provider for the service rendered.
I am then wondering the situation with other countries. Can your government really be able to track if you never declared gains made from Bitcoin transactions?
This is the one reason why nations should legalized bitcoin because they will gain bitcoin income tax in which a little bit frustrations to some bitcoin enthusiast because there profit will be deducted but i think this is fair because income thru fiat was tax collectable too. All tax imposed by the government are good as long as it was used for the welfare of their people that is why they should be honest in declaring bitcoin income but if it will just to be stolen thru corruption that is bad and I'm against it. As of now my country has no question about the legality of BTC transaction seems like fiat that you can cash out money in any bank, but yes legalization of BTC is somehow one of the best option for us to declare our income to the government for taxes, because what I seen if we will just keep it this way that we just keep our income incognito to the government the time may come that they will question the legality of our income. Specially that we have a law that is called anti laundering law. And as good citizen we should share our in come to the government in the form of taxes for the welfare of the people who needed it. |
|
|
|
if bitcoin gets better and more fame in the future even bitcoin can beat fiat money then banks will tersendirinya participate in bitcoin world, and it seems the bank will not be eliminated. Even if we are highly modernized nowadays and even we are in the verge of success in terms of digital currencies, I don't think it would be enough to eliminate all the banks in the world. Every country has its own needs in terms of its economic growth requirement.Maybe bank can change their policies and might include digital currencies in their list but not to the point that they will be eliminated anytime in the future. Yeah banking system is economic foundation of a government without banking system we don't have control over the market value of money and the economy of the nation is being measured in the banking system. In the introduction of BTC may be, bank will change their policies to aligned Crypto currencies flat form. |
|
|
|
I was thinking of selling my bitcoins for cash. Is it perfectly legal to do so ? Amount is close to 3-4K.
Thanks for reading.
If bitcoin is not ban in your country then i think that is ok because bitcoin transaction cannot be track any way then you will going to be paid in cash directly and personally by the buyer. This will be in favor of the buyer especially no service fees and transaction fees to be collected but if you will be collecting fees then that is wrong and no one will buy bitcoin to you except if your bitcoin is cheaper than the regular value in the market. Yeah If BTC can be cashed out by local provider in your country then it is not illegal to do so, even if you sell it by meet ups or somebody will directly paid you in cash. Because in my country there is a provider that will transform BTC to our own currency and you can send it to your own bank account then from there you can cash out easily trough ATM. |
|
|
|
Not all young people can not go to the bitcoin, because not all can understand about bitcoin.
everyone initially did not understand about bitcoin, but if they want to learn. sure they'll understand what is bitcoin, let alone a young people is usually faster to understand than older people. Well it is true, not all people eventually know about the bitcoin conceptual, I think it's a good idea where in they were be able to know how to earn more profitable income, Some young are easy to understand what is the reality in coming from world wide currency, Basically if young people go on it and they give interest to the trend, I'm sure they probably someday millionaire. Bitcoin is an opportunity need to be explored without any age requirements because who knows once you learn it you can find it more profitable and comfortable if you are at the age of retirement this activity is right for you because you can work it at home like a pastime job, you can join campaign you can tread or some other BTC activities for sure you will not getting bored. and for the young ages its more advantageous to start earlier. |
|
|
|
if used as the main currency, in my opinion can not. but will only become an alternative means of payment in the future. too many aspects to consider.
The government is a big hindrance why it's not possible for bitcoin to become a main currency, for me I am very much satisfied already with the achievement of bitcoin and even it's just a payment system but I'm sure it will be the most popular. Yeah being decentralized currency it is not align with government's policy because as much as possible government will take control on business, finance and taxation, the way I look at it in the future it seems that people will adopt this kind of currency because may be tired of being controlled because people need freedom and tried to look for currency that has no boundary and no third party manipulation. |
|
|
|
Yes price matters, what do you think if 1 btc is equal to 1btc, Do we think people will indulge on earning btc,? There's no sense to invest it either if is it so, Now look what happen in the present, People are getting crazy to do more things just to earn btc. This will help us earn more money and continue sustain our needs. This is good for investment.
Yes price matter because as long as the keep on soaring high BTC is become more expensive, you know what I really want is when the price of BTC will have a roller coaster ride once the goes down we have an opportunity to buy cheaper BTC, unlike what happening now in which BTC price keep on soaring and becoming more expensive I'm sure only thus big shot can afford to buy but anyway at least BTC is showing that it is more stronger. |
|
|
|
What are the chances of living in a world with no actual money ?  The science-fiction world where everything is digital is still light-years away from us. That world I imagined, will only exist if we all unite together- the hindrance of world peace. In that world without fiat, the most common crime would be in cyber world. Whether the crypto currencies can make these things happen, is still the mystery that we should wait for. We are heading towards that direction either we like or not, because of the invention of crypto currency and if we can observe people most like will adapt cashless transaction like using Credit card yeah we are light year away from that. If it will not happen to our time may be the next generation will make it possible. |
|
|
|
corruption can be done by anyone and anyone, so bitcoin can make money from corruption, it can happen because of the dishonest human nature that corrupts in any way.
If we talk about corruption and bitcoin, then I will say that it will not at all the bitcoin which will lead to corruption. It is we, the ones who are having bitcoins which will use bitcoin for the sake of illegal activities and corruption. Bitcoin itself is a very good thing. We actually need to stop bitcoin from being used on corruption and other illegal activities which can bring bad name to bitcoin. Even how often you will say that, they will not stop using bitcoin into illegal activities and corruption because doing bad things are already common for them and they want that way to earn money and the only solution for them to stop is by having the authority to arrest them or bring them in the police station and conduct an order that they need to stop what they are doing or else they will go to jail. As we all know that money is the root of all evil, even if our intentions of BTC is good but there are greedy people just watching and looking for opportunity to strike, like what happen to silk road were using BTC to proliferate their illegal drugs business, hopefully we have already learned our short comings of that, but it is very possible to trace easily the criminal activities because this is electronic transaction that we can trace where money goes and stop illegal activities. |
|
|
|
Undoubtedly,bitcoin is a significantly revolutionising currency and there is nothing about feeling hatered with it.
Some people may be unaware of its privileges, or getting jealous over success of its traders, that's why they seem to feel against bitcoin.
Looking forward, they will surely change their mind when all nations mark this as legal currency.
It seems that just for a while crypto currency introduce in the business community but still there are people don't really understand or have some misconception about BTC because talking about money as we all know that it is very much susceptible to scam or some criminal attack, that is if they don't really understand some of the security features for sure they are against with these. |
|
|
|
The answer is certainly sure, with prices skyrocketing in the last 3 days make us have to immediately invest bitcoin, but this is not the highest price but still very low because soon the price will reach $ 10,000 in this year and then $ 25,000 in 2018.
As for now I've seen it is very profitable to invest in bitcoin because may be next year it would be 25000 usd if you buy today can you imagine how much it worth in the next 2 years, but still you there should be a reservation for risk you should not gamble all your money to BTC you should keep part of it for some fixed investment like real properties and some others asset which is not volatile. |
|
|
|
That would be crazy and very risky, you should convert some smaller amount that you can afford losing (I mean losing a part of it). With all your money at stake it could be a great loss(depending how much money you have), so I do not recommend trying that.
Yeah it is not sound reasonable if you should convert your money into BTC although it seems that you want to become rich instantly aren't you? because maybe you've seen how the price of BTC soaring high , because BTC is a crypto currency and its volatile it is little bit risky if I were you it is wiser to just set aside part of your asset to buy fixed investment like real properties, and other part of it for BTC trading. defending on your assessment regarding the percentage. |
|
|
|
Losing is part of successfully trading. If you treat losing as part of trading then you are an experienced trader.
Losing is hard to stomach depending on how much you lose. Successful traders experienced it but they didn't let it set them back. We can treat it as a lesson to improve our skills in trading. No pain no gain. That's right! When there is no pain then there is no gain. Being in profit is good but there are times when a person needs to lose to learn. Only in losing that a trader learns more. If he is always in profit then he would say to himself that his strategy is perfect but then no one is perfect so there would always be a flaw and he can only learn that in losing so that next time, he can adjust his strategy to reduce the risks. Emotions play a big part when trading so as much as possible be emotionless when trading and just follow the trading plan. There are times when traders are emotional especially if he can't afford to lose that money and that would be the time he would make risky decisions like chasing losing trades and then lose more. I like the philosophy no pain no gain yeah! there is no perfect in this world all of us will commit mistakes and what is important is how you learn from that mistakes and that's part of your development, you can be a success traders if you know already how to calculate risk, in this crypto currency world there always a flaws but if you are matured enough you have already hint to whom you must trust and not. For the beginners just start it in gradual manner. |
|
|
|
The government is not going to ask us if we want to have Bitcoin regulated or outlawed - there is no official representative, no Bitcoin CEO, no Bitcoin citizens that could vote - regulations are going to happen regardless of what community wants. But everyone will have a choice - either to comply with regulations, pay your taxes, reveal your identity or use Bitcoin on gray markets. Bitcoin is like cash of the Internet - you are free to spend it however you like and no one can block your transactions unless you are using online wallets.
Yeah this is the real freedom as we speak because BTC is just a virtual you cannot touch it just a cash in the internet. The question who will represent in behalf of BTC in a country trying to regulate BTC. Because at the start this currency was started by unknown personality, just called himself Satoshi Nakamoto. if you earn BTC incognito to the eyes government taxes nothing can reveal you but if you’re a good citizen of a country is up to you how you will give tax of your earnings. |
|
|
|
That is one of the top questions which many us ask on a regular basis, you can see how much it has increased over the last month, is it the right time to buy, will it drop once I buy and if I don't buy now and it goes up 10 or 25% will I have missed the boat.
It really is down to your finances, if you can afford to invest now and be okay with it dropping which will only be temporary then go ahead and invest, long term if you invest now you will be happy.
Im envy to the people who are a lot of perseverance who buy But BTC in early days and keep it. even if there are lot negative comments about BTC before but still believe that somehow they gain profit out it. look at them now they become millionaires because of believing ,BTC is soaring its price, and it continue to raise because it draws lot of investors. |
|
|
|
I'm fairly new to Bitcoin. I am planning on meeting this Bitcoin seller in my area that I found on Localbitcoins. I'm not quite sure about the process, so I'll describe how I plan on having this work.
I will bring a couple thousand cash into a coffee shop where we plan on meeting. I'll ask him for more details on this process and we'll get some coffee. I'll show him a QR code of my wallet address to which he can send the Bitcoin. I will give him the cash and have him send me the coin. I will connect to the coffee shop wifi on my laptop to check my Desktop wallet to see if he has deposited the Bitcoin. Once the coins are released from escrow, we will leave the coffee shop and go on with our lives.
Does this sound reasonable? Is this a sketchy way of doing things? How is it normally supposed to work?
Hey bro.I think your transaction type sounds good.But be aware of the scammers and smugglers,only meet the traders on the public places.it is highly safe and secure of your money.If he is scammer then he don't want to meet you in the public places,if he is accepted the public place meeting thenhe maybe a good trader.And finally you can ask him to transfer the bitcoin to your wallet and make sure that it the transaction was successful and then u give him the money. Transaction like this involving huge amount of money for me I'm a little bit awkward specially when a person you meet up you don't really know his background and personality, may I suggest that how about using some money transfer services to avoid meets up anyway it’s a matter of trust when he send the BTC in your wallet that also the time to send money to his address, in this way if there is a scam ,robbery and any criminal activities at least your life is safe. |
|
|
|
|
Show Posts
