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They can use exchanger service. In today's world, a little google search will help you find many exchangers.
However, without a bank account, it is a bit difficult task to get fiat in exchange of bitcoin.
Otherwise, you have to make use of this type of forums to search for someone who stays near you and wants to buy bitcoins. Then you can facilitate the trade. Without bank account, it is really troublesome.
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There are so many exchangers available in the market. A little google search will give you a list who can exchange between bitcoin and paypal.
Use more than 5 exchangers and use 10 BTC with each of them to your paypal account. Once you receive the funds in your paypal account, you can easily withdraw it to your bank accounts.
But yes, you have to disclose that earning to your tax file.
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Why would anyone want to burn money?? What kind of freaking madness is that??
If anyone don't need money, please donate it to a charitable organisations who works for poor. This way you can make your unwanted bitcoin in good use.
Please don't destroy money in any form. It is a sin.
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Nice imaginative article!!
But it is literally not possible to be free from this 'banking' and 'regulation' bondage as you have to belong from some nationality. Otherwise, you will have hide yourself for the rest of your life which is not possible for everyone.
Bitcoin is a path braking innovation and it certainly gives some degree of financial freedom to the people and nothing else.
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If it is a pharma shop then why are you calling it a high risk business? Are you planning to sell banned drugs??
You can always accept bitcoin for your shop and there are few websites like bitpay and coindesk who can help integrating.
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lol! Please stop this guessing game. Few members are still not getting the sarcasm of the thread owner.
Tell me, what impact is going to have in your life after know the creator of bitcoin. Do you want him to come up with another coin like this??
Why are you all after him? earn, trade and accumulate bitcoin and make the most of it. But please let him live in peace.
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True sarcasm. Lol!!
Really I am fed up with this claim. Frankly no impact is going to make in ours life even after knowing who Mr. Nakamoto really is. Neither the price of bitcoin will have any impact.
I want him to live in peace because once his identity is proven, all enforcement agencies will be after him, which I don't want to happen.
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Free market is the future, though it has a very very little chance to become reality because of the difference in people.
Very few percentage of the world population is computer literate and that will become the major roadblock to the free market. Not everyone will know how to transact anonymously.
So, free market seems like a distant dream at least as of now.
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I always keep saying, that the best time to buy bitcoin is "now".
From an investor's perspective, it is always better to buy and store bitcoin for the future use. So that you can sell the bitcoin if needed anytime in future for any emergency.
I am not a trader and hence I am currently accumulating bitcoin.
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Honestly no! I don't want him to be found ever. because I want him to live a peaceful life.
Once he is found, all the regulators and enforcement agencies of that country will be after his ass and he will spend his life in prison.
So I want this path braking inventor to stay safe for the rest of his life.
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That will be one of the most happiest days of my life. I will sell all my altcoins and buy bitcoin with that.
Also I will be able to fulfill few of my dreams with that money. But that is not going to happen overnight. Even if it happens (though the chance is very less), it may take up to 20 years from now.
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Increasing bitcoin supply will not be good for the future pricing of bitcoin. If the supply increased suddenly, it will have a very serious impact on the bitcoin price and also it will take longer to recover.
Not happy with this proposal, it may ruin the interest of public about bitcoin and also ruin the hopes of better future price. Especially those, who are thinking short term profit.
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Wow! That's a long list and thank you very much for the list. Now I have a resource to tell my friends about bitcoin usage.
I have just checked a website called "seedsman"..They are cannabis seller and I am planning to have some delivered to my country. Just sent them an email about shipping details.
Great work man! Appreciated!
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Mixer site is just what you want to hide your ass.
Also you can use any exchange bitcoin address to send the coins mined and then exchange it to other coins. Once you will have enough coins then ou can send it to your offline address. But there are so many ways to trace the transaction actually.
So you can't hide yourself everytime.
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For me it is Coinbase. because of no transaction fees and its reliability. They are online for quite a long time now.
Also I use my exchange's BTC address for storing my bitcoin. It is C-cex. A little amount of my bitcoin earning goes directly to my exchange which I use for trade.
But I think it is better to use offline wallet if you are holding a lot of it.
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Seems like rimbit is just another community driven altcoin. I can say, altcoin with a different outlook.
But if u are not able to mine it?? Then tell me how I can earn rimbit?? Does it have a tips system or pay per post system?? What is that exactly??
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The accumulation of bitcoin is also an investment for the future. People have high hopes about bitcoin price and hence they are just accumulating it instead of trading or selling it.
That's human nature. Optimists will definitely accumulating the bitcoin for the future. For me, whatever the altcoins I get from various sources, I always buy bitcoins with that. That's accumulation for the future.
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Bitcoin will never be able to replace USD or any other fiat currency because all the fiats are backed by a tangible asset, which bitcoin is not. Bitcoin is backed by public trust and nothing else.
Also most of the world population is not tech savy. Firstly they will never understand how bitcoin is being generated from an algorithm. Within 15 years the scenario will not change much and so the fate of bitcoin.
But I am quite sure that bitcoin will become one of the most precious currencies in the world which will bring in huge profit for our retired life.
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This has nothing to do with bitcoin. Liberty reserve is the most widely used payment processor back in 2008-10. But mostly LR was being used for ponzi scheme scammers. But US legislation is so dumb that they could't catch the scammers but caught the bank owner for money laundering for providing them a platform.
I have also lost around 1 grand when LR closed down. Be assured, US will also try to seize the bitcoiners very soon as they don't want the power to be distributed to the general people.
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The small town is already known for its fast growing fintech operations, even being called “Crypto Valley” by some, with 15 fintech-oriented companies being located there. Apparently the town council has hopes Zug’s trend as a financial tech hub continues — having embraced the new identity with this legislative move.
After this legislative move you can be certain Bitcoiners will be taking notice of this small town, and it already has the added benefit of being located in Switzerland — which is known for its business friendly environment and relatively small regulatory burden. Switzerland’s long history of regulatory stability and political neutrality has, in the past, made the country a hub for financial related business. So, it should be no surprise that the town that takes the radical step of accepting Bitcoin for utility payments would be located in the country.
I really don't know whether to be happy or unhappy after reading this news. I personally never wanted bitcoin to become a utility payment service. The characteristic of bitcoin is not suitable for public service payments. Its dynamic price is not good for utility payment. Due to the dynamic price, the public service providers will have restructure their fees every moment. Otherwise, you will pay more or less for the service and either they will make huge profit or loss every time. Let fiat handle all these and let bitcoin become the world's investment destination. |
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