Bitcoin offers an alternative to traditional (fiat based) finance.
There's no interest that's inherent in this system. There's no mechanism for easy lending. There's no money supply manipulation. There's no lending off of a balance sheet (only) asset, i.e., imaginary money.
Does Bitcoin offer a positive evolution to finance? If so, how?
Bitcoin affects financial problems of people in good and positive ways. Bitcoin solves my problem financially, especially when it is increasing rapidly. Many people can prove that from here its positive effect. Bitcoin does not only solve the financial problem of each person who use it but also it can solve the problem in having expensive fees in doing transactions like in paypal or in the banks. We can easily transfer bitcoin from one place to another or from our wallet to the receiver without going out and paying a lot of money for just the fees. Bitcoin will always solve the financial problems that we are currently facing if we just adopt bitcoin into our life. |
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reading back through some of the comments here is interesting...
we'll never reach $1000, yet just months later we have sailed right through 1k.
10,000
100,000....
make it so!
That $10,000 price was too high for bitcoin. It is so expensive and it will make bitcoin exclusive to rich people because the poor people will no longer able to buy at least 1 bitcoin in that moment. But i think that is still possible for bitcoin to reach since we are just starting to invade the world and soon we will get in touch with $2,000 and after a few years we will experience $10,000 price  . |
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No i dont think it will totally kill bitcoins .with the advancement of the price tx fees will increase and i think it is the minimum when comparison to the taxes u pay through the governement .
Eventually, if we are about to compare the tax between the fiat money transactions and bitcoin transactions, bitcoin transaction's fee is still cheaper than fiat money transactions since it only pays miners, not the governments. However, if the governments charge or require every bitcoin's transaction, it would eventually keeps its users to prefer other means of transactions. This is quite possible, yet there's no assurance if it would eventually happen. That is correct. The fees in bitcoin is still cheaper than the fiat or any other kind of payment method. Even though it is continue rising, i think the fee is still fair for the users that are usually doing transactions because even though they send a lot of money, the fee is not that high and you can still have much left in your wallet. Also, the transactions are still average in time frame and i can received bitcoin within an hour which is still great with a cheaper fee in it. |
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Yes, got you intrigued, didn't it?
Bitcoin is a very good thing to have as an asset. Just like gold. Even better if I may say. It's secure, and unlike fiat money it actually exists and work is put into it to produce it. This makes it great to store value.
However, it cannot and will not replace current fiat money that the entire world it using. It just cannot.
Take paying a cup of coffee for example. To pay your coffee with bitcoins, one must get bitcoins first, either by mining or buying bitcoins with other kinds of money (*cough*fiat*cough). It ends up being a quite complicated process, don't you think?
Until we reach the point where paying for a cup of coffee is as easy with Bitcoin as it is with cash, we will never get mass adoption. And as far as I see it, there is no way of simplifying the acquiring of bitcoins.
Yes,bitcoin cannot replace fiat.Even now,in many countries,most people dont even have a bank account and debit card,credit card.They dont know about digital transactions.What they know is paper money which they can feel with their hands.In future also,Fiat currency would exist,but its usage would get reduced.Bitcoin would be a secondary payment option. Yeah right, fiat money will continue to exist because the use is legitimate and fully protected by the government, despite the use of the bitcoin is already widespread, but will always be secondary and fiat is always primary. This is the reality, our governments already marked our currency that will be hard to diminished on us. For it is one of the label that makes our country, In this millennial times wherein currencies also overtakes in technology there were really some improvements that technology offers to make online transactions faster this is were bitcoin really takes part. Bitcoin may not replace our fiat in our country or government,but here with technology bitcoin rules. All of you guys right , the main thing that I feels that why the bitcoin can't replace Fiat is that , bitcoin has no big support by the all countries government ( like the doller) , so here to trust upon the bitcoin by all the people's in the world is not so easy , so here most of the people don't trying to enter in the bitcoin like things and other who are already in the bitcoin job are using bitcoin for the earnings of the Fiat only because they know that if they can turn the bitcoin into cash ( Fiat ) then they can use it in any way , that is why the reason that bitcoin can't replace any Fiat . Exactly, besides, there are will always people that will prefer Fiat and is not prepared for the changes. Therefore I don't think that Bitcoin can replace the Fiat and if this will happen it will be in a long time Yes most of the people in the world still prefer fiat because they comfortable using it and fiat is more stable than bitcoin and it has a fixed value so it is not volatile to its price. If i choose between bitcoin and fiat for long term purposes and usage, I will still choose fiat because it is so easy to use and it is physical and i can use it offline unlike in bitcoin that only depends in the internet. |
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Make money from money can be done if we become investors, usually investments into stocks
our active income be invested in stocks and it will makes other money
because as we know make investments into stocks will getting dividen of profit from the stocks
for get money from money with stocks we must buy stocks a little by little weekly, monthly and hold them for long time.
Not only in investment we can make money from money, there is a lot of ways to make money like gambling but that is not a good idea since it is just a random system which depends in luck. Trading, which is a good way to make money from money but you need to learn the basics first so you can avoid getting lose stats in your trading. |
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Long invest is really good especially when ypu started to invest at your young age and together with bitcoin you will grow. You gonna earn lots of money investing you whole to bitcoin but do not regret if time comes that bitcoin will go slow because in patience it will grow further than it seems.
We all have to adapt to the changing environment and an early investment can help finance all your financial needs in the future when its most needed and we are off the parents pockets. But investing in bitcoin for a long time is now risky because of ease of manipulation of btc price which can be a loss or profit when you want to cash in your investment. The manipulation in bitcoin is not that too easy because the price now is getting higher and higher and the volume of the users and the investors are keep growing even bigger so i don't think it will be easy for manipulators to manipulate bitcoin. If you really want a good portfolio then you should add bitcoin to it and it will give you great profits in terms of long term investment. |
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I will invest but with a small amount. If i get my interest, I will withdraw everything. Just repeat that and remember that all of these bitcoin investment sites especially hyips will turn into scam before a month so might as well outsmart them.
I also do that with the past investments sites that i get in and most of the them are hyips. I have a site which gives me different informations about the newly launched investment sites and i just go to that site and create an account and invest an average amount of money then i just recruit other people to make my earnings faster then i withdraw my capital and my earnings then ran off. |
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There is no such thing as BTC0.1 per week unless you want to scam people. I assure you even traders dont get btc every week. Or maybe if you are really lucky enough you can get that in gambling.
There is a way to earn that 0.1 and you can easily earn that amount of if you have a lot of capital like in trading, you can easily get 0.1 in just a day within 1 bitcoin capital because the minimum percentage that you can earn in trading (If you are a good trader) is around 10% and you can increase that depending on the market. |
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Holding bitcoin for a long time is good if you start way back 2014 because price of bitcoin that time is already doubled at current price but for now much better to do trading than holding it for a long time, we should take the advantage of the fluctuation of the price
I have to disagree with you with this one as Holding Bitcoin in a long term position is not appropriate or Bitcoin is not really for Long Term Investments. Remember when Bitcoin drop at 500$ per coin last 2016 it was the worst moment for Investors if they listened to your advice to keep holding Bitcoin. For me you have to take advantage of the price drops and increase at the same time, Holding Bitcoin will certainly avoid those advantages. Bitcoin is more fitted in the short term position. the worst moment of bitcoin price is when the price down to $220 in 2015 people have a lot of speculation about how bitcoin will dead and disappear but after 2 years now , the bitcoin price jump up to 600 times crazy indeed , it must shows how good invest in bitcoin for long term. Bitcoin had faced many challenges and it shows how strong it is. With this reason, its investors don't doubt same as before since its market is quite huge currently and there no reason to make it down. However, as it pumps, dumpers don't stop dumping it whicg makes them to make profit. It's important to know how powerful the bitcoin is as for everyone not panice selling everytime volitality occurs since at the end, dumpers will win if people panic selling. Bitcoin is one of the strongest currency in the world because even there is a threats like the hardfork, bad rumors and news, Bitcoin still stand out and still getting higher price in the market. Bitcoin is very strong because of its followers and supporters who stay with bitcoin no matter what happen and that makes other people get in touch with bitcoin because they see the great support and stability of the market so they always coming. |
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The future of bitcoin is very bright now because of its good progress in the market and in the world. There is a lot of good news for this year now like the ATH price and the we also surpassed the price of the gold even just for days and now the crazy adoption of the Japanese people of bitcoin and that news will be the rocket fuel for the price to skyrocket more and surpass the ATH and make another type of ATH price. The future of bitcoin is very clear that it will be big, so i keep collecting and saving bitcoin so i won't regret ignoring this cheap price now compare to the possible future price.
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Well I currently have several multibit accounts with various fractions of BTC but if I put all together it should sit elk over 3 BTC and I'm proud of what I've achieved. It's well below my dream of 21 BTC in total but I will still forge forward and make it happen.
Keep on saving or multiplying your 3 bitcoins because i think it will be easy for you to achieved 21 bitcoins because you have a lot of bitcoins in your account. You may try trading to grow that 3 bitcoins easily by buying good altcoins and hold them for long term like what just happened in ethereum and other altcoins. |
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I'm not sure if what I'm doing is trading?
I've started buying small amounts of bitcoin through Coinbase and I"m just doing something simple like when my balance is more than what I purchased (bitcoin has gone up) I subtract what I'm over and send it over to a wallet.
I don't know if that makes sense regarding depreciation/value...
But that money I Just "made" what is that considered as for taxes? I don't know part of it too it's like "bitcoin can be not traceable" haha but I'm buying bitcoin through coinbase I have a trail and have no reason to use it anonymously so, I'm wondering how to deal with taxes. I doubt I'll make much either but I'm going to put some time in on writing scripts to grab data from random sites and maybe that will help me with figuring out when to pull out money/buy more.
So... what about taxes?
Thanks for any help.
Bitcoin is not controlled by anyone and also the government didn't controlled bitcoin, So why are you keep worrying about the taxes? Bitcoin does not have taxes because it is decentralize. I think you just need to worry about the fees of doing transactions and not the taxes. |
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Holding bitcoin for a long time is good if you start way back 2014 because price of bitcoin that time is already doubled at current price but for now much better to do trading than holding it for a long time, we should take the advantage of the fluctuation of the price
I have to disagree with you with this one as Holding Bitcoin in a long term position is not appropriate or Bitcoin is not really for Long Term Investments. Remember when Bitcoin drop at 500$ per coin last 2016 it was the worst moment for Investors if they listened to your advice to keep holding Bitcoin. For me you have to take advantage of the price drops and increase at the same time, Holding Bitcoin will certainly avoid those advantages. Bitcoin is more fitted in the short term position. I do long term holding for bitcoin but your statement makes me agree with that. Holding bitcoin for a short term or getting a perfect timing for selling high and buying at a low is a good strategy because it enables you to maximize your earnings while in holding for long term it disables you to get those maximum possible profit. In my opinion, it is best to do both. So you won't regret your decisions. |
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Yes you can but I doubt it can make you rich well maybe some people lucky enough but the percentage is very small, it is just a kind of gamble
Don't even compare trading to gambling those two may look similar but very different in every way, getting rich in trading(forex) depends on you on how you will take the opportunity and how you will use it to the fullest. Trading and gambling is a bit similar to each other because it involves risk and the money you risk into it. Trading forex can make you rich in a slow proper way because it is not like what we used to in bitcoin or altcoin because it is not volatile or vulnerable for manipulation and getting rich with forex takes time not only in trading but also in learning. First you gotta learn and second you gonna remove the L from the word (L)earn. |
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Bitcoin was already considered an internation digital currency. But the thing is other countries, no store or shops that accepts bitcoin. Though it is already adopts by some people because of its advantages still it has a good benefits that can help to people.
Japanese government now accepted Bitcoin as a legal payment, in the future there will be more and more countries to accept bitcoin.It may take a long time to be bitcoin could become an international currency, perhaps we could wait until bitcoin accepted by the whole world The adoption is expected with Japan, due to its technological development, they also have the advantage of population. Since the announcement of the legal right to use, a lot of innovation with the use had erupt. I know soon lots of online market link to Japan will be valuing their goods online with bitcoin, and will make the currency aspect of bitcoin to be exploited Japan is one of the most advanced country in the part of the asian countries and the adoption is already expected since they want new things to embrace and can help them to be better. This is one of the steps of bitcoin to be a legit international currency and soon other countries will adopt bitcoin also. |
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Bitcoin value is always matter, this is the basis of our income specially in our investments. We are here in bitcoin to get income and always look for the value before doing an investment and also in trading method value is always matter
Yes value always matter not only in bitcoin but also in almost of the items in the world because if there is no value for a certain item then it will be useless and not interesting for other people. i.e in bitcoin, if bitcoin has no value there would be no investor and there would no people like us here in the forum. |
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bitcoin and gold, today is the item that has a good price and to invest in the future. but bitcoin and gold are two contradictions different, bitcoin created by the genius of the man who created the curency which is based on cryptographic technology, while gold is created naturally require a few million years to make the precious metal and has a price, the history of gold as curency and turned into jewelery passes thousands of the world's history, both have more value and use value. I think I'm going to divide the capital for menginvestasikanya, for cryptocurency for future predictions will be used for the digital world has been created, while gold is a precious metal that has been recognized to tackle inflation and deflation, although there is war , gold still has a high price.
That is the advantage of having a gold because if there is a war or anything event with a massive crisis then the gold is still there with a expensive price and you can sell it offline while bitcoin is a digital and if there is no internet then your money are stucked in the internet which is bad. Buy both so you will not regret. |
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Obviously I would convert it to Bitcoin. I have many reasons to believe in bitcoin even after 10 years. First thing, Gold is an element which is precious, shiny and used as highly traded ornament but I believe the craze about it in next 10 years won't last that much as it is today! The 10 years from now would be DIGITAL world where there will value to digital stuff. People may not be interested in physical stuffs anymore. Gold may become talks of past and may drop in it's value drastically.
On the other hand in such digital world bitcoin will take place of safest investment and medium of trading the stuff around the globe. Due to increase in it's useful volume it will get more evaluation for it's price. Computing will increase a lot in the future and bitcoin will be more into picture frame. The clear vision of this can be seen today also. As you said 5 years passed away like sand in hand!
So for me Bitcoin is the only way to convert my money and store for next 10 years. :-)
I don't think that just after 10 years, the world will be that advanced like people will like digital stuff and abandon physical stuff. The the question is, what will happen to the fiat or physical money? I don't think that bitcoin will be king after 10 years because there is still a lot of things to happen and we can't see what will happen in the future. Gold will still here after 10 years and it will become more expensive than now just like what will happen in bitcoin. |
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I suggest instead of buying all at one shot, one can consider buying in smaller quantities with time gap so that you can get a good average price of bitcoin over the time. Since bitcoin prices are more volatile so shouldn't buy all at one time. For investing, don't wait for the particular price because you may miss the opportunity to make profit from your investment.
I agree with you since I think also that it is bad buying all at one shot because you might not now if the price will go down or up, so buy a little now and if dumped then buy when it dumped again, buy again so that when it pumps, you will have better gains than when you buy all at the same time. Also, Selling a little bit every pump is always a good thing to do to recover some fiat to rebuy again when it dumped that way you can get more bitcoins to hold. Great advice, buying or going all in one time is a very risky move because we need to remember that the market is very volatile and it can go down anytime. In my opinion, it is best to buy a certain coin like bitcoin regularly or per month so you can easily recover if you bought at a high price and buy at a cheap price. Buying regularly is one of the best and effective move for me since the price is volatile. |
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I would like to suggest that invest it online specifically in bitcoin invest it in bitcoin and hold a coin for a year and absolutely you will make a good profit by just saving your bitcoin. Because bitcoin is still growing and think about it because that is a smart choice. Bitcoin price will pump and pump as time pass by.
You are right, investing in bitcoin will be a good idea because its price is still pumping as the time pass by and it is also safe because if you can't sell it then you can use it as another type of money or a payment system. Just buy and hold bitcoin for at least a year and you will get at least 10% of your investment as a profit which is good for a starting investor. |
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