0.01 BTC per week will help you to start with the world of bitcoin. There are so many ways, you can use this amount to increase your holdings. First thing you need to do is, start with trading. The amount is not much but it give you an idea about trading. Start with small amount so that you can limit your losses.
Another thing you can do, is p2p loans. Visit websites like btcjam, btcpop and you will get an understanding on how lending works. Though a risk is involved, but it is worth exploring.
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My government is not much bother about bitcoin till date. Most of the officials don't know about its existence. Hence I am not facing a problem as of now. But I have declared my income which I had cashed out through out the year in my tax declaration form. So I guess I wll not have to face any issue with that.
I heard Japan and Canada is planning to make bitcoin legal. It will be a good step.
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You are free to think whatever you want, but if you think that bitcoin don't have a future, please send all your bitcoin to me and I am willing to pay $680 per bitcoin.
I trust that holding bitcoin is also an investment and that is what exactly I am going to do with it. Hold more and more bitcoin to make few of my dreams come true.
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The best way to invest bitcoin is to hold it. Holding bitcoin is itself an investment. Also please always avoid gambling and ponzi sites as it will only steal your money. It very hard to get back your investment from any ponzi sites.
Also you can trade with your bitcoin but it is very risky. Only if you know how to trade, then go for it. It can give you the best return.
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Absolutely save it. Take an outright approach to save all you can mine. If you want to earn your bread and butter, then you will have to sell it. But if you ahve any other source of income, then my suggestion is, please save what you can.
Bitcoin has a huge chance to become the world's most costliest currency in future. It can reach 1500 USD within next 5 years. SO save bitcoin for better future.
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That's a valid question. I think the magic lies within the price dynamics. If bitcoin had a stable price then it would not become an attractive investment option.
The dynamic price is the main attraction to the trader and it gives an unique opportunity to the investors as well. I personally would not trade bitcoin if it had a stable price. The price dynamics brings the opportunity for trading.
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5% interest daily means 150% monthly. It is huge and sounds impossible. Even ponzi schemes will not be able to give such huge returns.
It can be achieved only through trading but you have to devote full time on trading. Also that will not be risk free. I can't even think of such huge returns.
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The value bitcoin brought to me is the potential to growth. If you want to increase your fiat savings, then you will have to invest in some conventional deposits or stock market.
What unique in bitcoin is that the potential to grow. Holding bitcoin is itself an investment and it can provide huge returns which a normal investment can't give you. That is the value of bitcoin to me.
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The only plan about bitcoin I have is to save and save more. The more you save, the more chance you will have to make out big from bitcoin.
Consider bitcoin as a long term investment and save accordingly. I am sure you will not regret. Hold it for another 5-7 years to see the actual magic.
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I have really never counted the percentage. But it is less than 0.01% of my networth. The funny thing is that, I have never bought bitcoin using my fiat money. I have started getting bitcoin from faucets and then I have used it for trading. Joined signature and avatar campaign to get a regular income.
Hence, I have not calculated ever, but should not be more than 0.01% in total.
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My government really doesn't have much idea about bitcoin and that's why they usually don't bother. The moment they will start bothering, I will have to sell my holdings and settle with fiat currency.
I heard that Japan and Canada is thinking about legalizing bitcoin. If it happens, it will be a good move for their countrymen.
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The best thing you can do with this little amount of bitcoin is to trade. But only if you know how trading works. Try dogecoin or litecoin pairs as the initial amount is very less.
However, if you know how trading works, you will be able to make out some good profit even with this little amount. Please don't use gambling or ponzi scheme. You will only end up loosing all your bitcoin holding.
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I don't talk about bitcoin with my family because few things are better to keep secret. Bitcoin is an extra investment I have made and looking for a good return in long term.
But frankly, do I need to tell everything to my family? I don't think so. Even my wife don't know about my bitcoin earning. I do it mostly from my office.
However, I have tried to tell my friends about bitcoin, but they seem to be less interested and hence I stopped talking about bitcoin with them.
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Paypal is regulated by various laws of many countries. They have different rules for different countries. So it is very difficult for them to accommodate a currency which is not regulated by anyone.
So they can accommodate bitcoin for those countries where bitcoin is legal. There are very very few nations where it is legal so I think that is the main roadblock. However, you can always exchange your bitcoin in to paypal funds using exchanger service.
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Electric cars are surely bad for oil industry but it is beneficial for our environment. And environment is what we all need. People may leave their cars but they can't leave breathing.
Electric cars are usually non polluting in nature and hence it is a very welcoming step for human civilization. The efficiency will be increased in future but pollution will be less.
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It will never happen. Bit doesn't have the characteristics to become a fiat money. No one owns bitcoin. It will be possible only if a country or a regulatory authority like world bank or IMF claims its ownership. The chances are very very very low.
So I see that bitcoin will remain an alternate currency and people will continue using it like that way only, even after 5 years.
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The best forum for bitcoin is the current forum you are using now. It has a superb member base and also very active. However, if you are an investor in mining programs, then https://bitmakler.net/ will be a very helpful resource to you. As of now I am using both.
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I am not literally planning to buy anything with bitcoin as of now. My target is to accumulate more bitcoin using my free time. I am employed full time so I use my spare time to trade and using other methods to earn bitcoin.
I have a long term goal with bitcoin. So I will be holding my bitcoin for another 5-7 years in a row and will continue to earn more and more bitcoin. Probably it has the power to make some of my dreams come true. Looking forward for that.
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Taxation entirely depends on the country of your residence. Even if your country don't have taxes on bitcoin, you can always declare your income as foreign asset in your income declaration form. The taxing authority will put the taxes accordingly.
I heard Canada is planning to impose tax on bitcoin but I see that most countries simply don't bother about bitcoin.
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The safe asset topic is relative. You consider various situations, the definition of safe will be different. So as bitcoin. It is a very high returning but intangible asset. You can only see your wallet but can't touch it unlike fiat money.
So, bitcoin is not as safe as fiat money to me. Yes, definitely bitcoin has value to me and I am accumulating more and more bitcoin from various sources every day. I have no intention to sell my bitcoin holdings in near future. Hence I am keeping my trust on it. But I have not stopped saving in my fiat currency.
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