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81  Economy / Economics / Re: Bitcoin to be Taxed...... on: October 23, 2017, 10:45:13 PM
For Bitcoin to be taxed, that means the government has accepted it as something it owns or has the rights to regulate. Hard to say if it's enforceable universally when transactions are either private or through privately owned exchanges.
82  Alternate cryptocurrencies / Altcoin Discussion / Re: Am I late to the party? on: October 23, 2017, 10:39:06 PM
I think generally everyone who didn't invest in the Bitcoin back in 2009 are late to the party.
83  Economy / Economics / Re: CHINA ban Rise and Down on: October 23, 2017, 10:28:36 PM
Their ban of ICOs means that Bitcoin in general will have less competition overall, but it also means that it's powerful / popular enough that China can't exactly prohibit the flow of it in and out of their country.
84  Economy / Economics / Re: Government & Bitcoin on: October 23, 2017, 10:17:14 PM
Financial institutions around the world are embracing Blockchain technology, but Bitcoin is more or less a competitor of them. I don't think it's really possible for the government to regulate bitcoin, but it can probably limit the flow of the currency with restrictions, assuming they have a legitimate reason for it of course.
85  Economy / Economics / Re: Electronic Money vs. Physical Money on: October 23, 2017, 10:11:01 PM
Physical money will stay for a long time as many small countries still depend on it. Even if we don't include bitcoin or virtual currency, many people are still very suspicious about signing up for credit cards virtual checking / savings accounts. Both will continue existing for a long time.
86  Economy / Economics / Re: WILL BITCOIN BE USED BY ALMOST EVERYONE IN 2022? on: October 23, 2017, 10:02:22 PM
Very unlikely for various reasons:
1) There is not enough Bitcoin to go around with many people HODL-ing what they have.
2) Not all Bitcoins have been released yet and with even current market prices, only people with quite a bit of money can really buy / mine them.
3) Not everyone in the world is connected to the interweb yet, cash and fiat money are still very dominate in many smaller countries.
87  Economy / Economics / Re: Why Is Bitcoin's Value So Volatile? on: October 23, 2017, 09:49:05 PM
It might be cryptocurrency has introduced very new investors into the market because it's more or less self managed. With Bitcoin still being very new to the market, it's very likely for newcomers to react to every bit of news and sell / buy at unpredictable rates.
88  Economy / Economics / Re: Can Bitcoin End World Poverty? on: October 23, 2017, 09:43:01 PM
Highly doubt it. If anything, I think it will skew the line of poverty even more -- the rich will be richer, the poor will stay just as poor. : (

The only exception may be the few who decided to take the risk in investing in Bitcoin in the first place.
89  Economy / Economics / Re: Fiat Money is a Bubble on: October 23, 2017, 09:36:52 PM
If it is a bubble, it's unlikely to be bursting anytime soon. Too many countries are still cash-focused, going to be hard to convince everyone in the world to drop years of transactionary habits because it's not real.
90  Economy / Economics / Re: Bitcoin reduces unemployment on: October 23, 2017, 09:30:32 PM
I don't think it will reduce unemployment in any way different than a startup looking for new hires. Technically speaking, employment means there is a contract between an employer and yourself, the potential employee. So if there is no "employer" to say when you are mining bitcoins (at least I think this is where you might think the "employment" part comes into play), you are technically doing this on your own will with no guaranteed payment, making yourself "self-employed" if anything. So while I think bitcoin/[Suspicious link removed]panies will indeed be rushing to push out jobs listings, these jobs will be like any other and be fulfilled only when the person "just right" comes along.
91  Economy / Economics / Re: How to teach kids about Bitcoin? on: October 23, 2017, 09:24:17 PM
Hm... is there really a need to? Personal opinion, but I think children should enjoy being a little ignorant about finances until they hit puberty. That's not to say to spoil them and buy them everything they want. Give them $5 and let them decide how to wisely spend it at a store, but in terms of Cryptocurrency where there is a lot of money involved, unless they are really hyped up and interested in it, I say put it off until they're able to get a job.
92  Economy / Economics / Re: Is it better to save money or invest it? on: October 23, 2017, 09:17:32 PM
I would say invest. If you save your money, there's minimal to no additional interest returned in holding it. If your company offers a matching 401k, take it. You'll be getting some of it back as an incentive to save for your retirement. You can invest in stocks, ICOs, startups, etc and hope that they do well. Or you can even put your savings into the money market for higher interest returns. It's good to have some emergency cash stashed somewhere, but I don't recommend putting all your life earnings there.
93  Economy / Economics / Re: Cashless society on: October 23, 2017, 09:10:39 PM
I don't think cash / fiat money is going away anytime soon. Many countries are still very reliant on physical currency and credit cards are still a suspicious piece of technology for those who haven't spent some time reading up on them. Bitcoin / crypto / virtual currency is still fairly new to the point where financial institutions are still either badmouthing it or barely embracing the blockchain technology. Sometimes I prefer cash payments just because it's upfront and hassle free.
94  Economy / Economics / Re: Does this mean Cash will be extinct? on: October 23, 2017, 09:04:35 PM
I don't think cash / fiat money is going away anytime soon. Many countries are still very reliant on physical currency and credit cards are still a suspicious piece of technology for those who haven't spent some time reading up on them. Bitcoin / crypto / virtual currency is still fairly new to the point where financial institutions are still either badmouthing it or barely embracing the blockchain technology.
95  Economy / Economics / Re: Bitcoin to be international currency on: October 23, 2017, 08:57:25 PM
That's a very ambitious idea seeing as how the efforts of enforcing an international currency has failed before. The European Union tried to do that with the Euro but not everyone was willing to conform, I think something similar might happen here. The most difficult part of enforcing this as an international currency is quantifying how much "bitcoin"-worth each Country has.
96  Economy / Economics / Re: What happens to Crypto when normal stockmarket collapses?? on: October 23, 2017, 08:48:45 PM
ICOs are similar stocks in that you're funding the company through investment. I want to say they are more like substitutes in a way -- if you think something is going down in the stock market, go for the ICOs if it looks stable. I don't think one directly affects the other, but they are definitely comparable markets.
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