There will be no special treatment given to Bitcoin trades if it is not recognized in your country. Therefore, it will be considered equivalent to stock investment and your profits will be considered as capital gains. These gains will be added to your net worth in the year end and if your income will be in tax slab, you have to pay taxes, no excuses.  Other than above direct tax, you may need to pay additional indirect taxes as on the time of sale/purchase, no matter whether you made profit or loss. It depends though. I know that in France for example it's filled as "exceptionnal gains" and is taxed in a very special way. Best is always to seek advise to your own country administration. You'll see what to do afterwards. Interesting. I thought that no country has taxes for bitcoin. In my country is one wanted to pay taxes for such a business, one would have to pass burocratic procedures on making oneself a businessman and taxes in btc still wouldn't be accepted, of course, so one would have to sell some btc for local currency of thus pay. I think that such a case will be in most of countries. So no worries about taxes in this sphere. |
|
|
|
Today many people rely on bitcoin, in the sense that they are now focusing on the world of cryptocurrency, leaving their jobs
Is there something like this, is there any special tips because i want to focus but not yet dare?
I think there are many people who rely on bitcoins and use bitcoins as source of income. Most of them offer their services for bitcoins. Some are employed on bitcoin related forums. You can start with offering your services for bitcoins as none get paid for free. I think Signature campaign would be nice for start. Signature campaign is a great oportunity indeed, especially if one is from a developing country of a student without time for a full-time job. And yet I think that most of people don't use bitcoin as a source of income. They rather hold some btc and hope that one day it will cost a lot more. For me it is the source of income, though. |
|
|
|
Ethereum is very strange since its properties are an asset are questionable and the centralised development team means that its supply could be manipulated at nearly any time.
Bitcoin in general might not stay "king" but it has its own properties and immutability gives investors a certainty. It's just going down a different path.
How can its supply be manipulated if there are miners which proof their work and generate eth? And soon there will be another system on which only the stake will be proved and thus the code will basically control itself, giving rewards to eth holders. I think that bitcoin will stay as a king, though. It is just hard to imagine it being replaced even despite the fact that it is quite an inflexible currency and thus it will be had for it to adapt to new demands of people. |
|
|
|
However, what certain thing is that, yes there is always risk in investment. This is something new challenge to a new investor wether shall they put more money in investment or not. Thus, there is a forum to consult and to minimize the risk my revieiwing such investment. This is the effective way to execute the risk.
That is surely true. However, we can say that in crypto-world the safest coin to invest in is bitcoin. The problem is that it is already worth a real lot of money and perhaps it's not very profitable to invest in it just like it is not profitable to invest in very famous casinos with big bankrolls. And yet of course there are people who are still investing in btc, because everything is quite messed up with other currencies. |
|
|
|
|
On vdice the main functioning coin is vsl which is strongly tied with ethereum (if even the private key is the same). People are nowadays talking a lot about proof of stake to which eth is likely to switch soon. Will it inevitably cause some changes on VSL as well? Or is there only some slight dependency and perhaps that will only effect the price? VSL is a bit down right now but in general the price is growing which is good.
|
|
|
|
|
It depends on whether you mean by the 'rally finished' the death of alts or their stabilization and the stop of huge price fluctuations.
If the first one then I'll say it won't happen till bitcoin is here. That is, at least we are safe for about 5 or 10 years from now.
If you mean the second one, then probably we'll see stabilization in a year and there will be a few obvious leaders in the world of crypto-currencies.
|
|
|
|
|
My God! This coin is now +99,75% on coinmarketcap! Huge growth, I've never seen such a big one. At first I thought this is a standard 'pump and dump' thing and perhaps it really is. Nevertheless, as I read more about the coin on bitcoinwiki, I now see it is definitely not a shitty coin like many others. Digitalcoin is a fork from litecoin, improved version of ltc. Transactions are 4 times faster plus hard fork is very unprobable. What do you think? Should we buy some or better to stay away? The coin is old and the price is now $0.1. The price was dropping nearly all the time of its existence but now it started growing. Will it grow more? I think it will.
|
|
|
|
We all knew that bitcoin broke the ATH of $1200 and its now $1300
Based on some philosophy people mentioned that when Btc raise, most of the alts drop
But look at the top 20 coins in cmc
Dash
Eth
Ripple
Monero
And even Doge
DOGE GROW 18%
Any particular reason?
Well, some people (iamnotback said it about ltc if I'm not mistaken) said the opposite. They maintained that bitcoin grows and other currencies tend to grow with it. Perhaps one of the reasons for this is that as the btc price grows, people become more acquainted with cryptos in general and sometimes, as btc is already too expensive, they start buying other crypto-currencies. I think this theory is more right than the one you are talking about. However, in a way, there is no strict connection between btc and other currencies, so abything can happen. Perhaps if something happens to btc other alts will drop, but the opposite might happen as well. |
|
|
|
Zcash is an interesting coin no doubt, but it does have issues.
What are the specific issues? I am not sure what gollygosh meant but I can name one problem at least. Its name is 'Genius tax'. Miners have to pay the creators of z-cash huge amounts of money which makes mining less profitable. And this tax is huge, it is worth 20%! That is what lead to the development of z-classic but the latter is still weak and it is hard to say whether it will be able to survive. |
|
|
|
Keep hodling.
I absolutely agree with this. I bought eth when it cost $16 and was saying from that time that we all should buy some eth. I think eth is a kind of currency which one should hold for a really good time. I believe it will cost hundreds of dollars when the PoS is implemented. So, I wouldn't sell even on the price of $100. The currency is just too good for that. |
|
|
|
|
I read some info and watched a couple of videos about ethereum switching to PoS. Sooner or later it is predetermined to happen and, in fact, rather sooner than later. So, eth miner in the youtube video says that for the switch to be possible ethereum miners must support it. Otherwise, if they stubbornly mine ethereum when the switch should happen, hard fork is likely to occur and eth will become something like etc is now.
I have the following question: for what reasons should eth miners support this switch? Now they have sort of a stable income and after that they'll have to sell the hardware or start mining something else which might appear not as profitable as eth is. What are your thoughts on that? Will the miners support the change and why?
|
|
|
|
If the altcoin industry is now a multi-billion dollar industry then why doesn't the media treat it like one?
I can pretty much explain to people not knowledgeable about Bitcoin what it is and in layman terms how it works so they 'get it'. When you try and talk about Alts and explain that some are like Bitcoin but are not Bitcoin or even terms like contracts on the blockchain, tokens, POS, platforms etc I never fail to see their eyes glaze over and look bewildered and/or bored. I sometimes manage to get over the concept of coins like XMR or ZCASH - they can understand the difference between public and private blockchain info. I think this is the issue with 'mainstream media'. However, there are platforms out there on the cusp of providing genuine, disruptive offerings with mass reach and mass appeal - as with biometric scanning, VR headsets and AI the 'mainstream media' will scream and shout about it then. Don't plan on the media shouting about the platform you researched to be the best out there - it's not rational or coherent. I agree with this. People aren't even used to hearing about bitcoin, so time shall pass, they have to learn some basics and then they can try finding out about other coins. I think there's another reason for that, though. That is, perhaps the journalists are afraid to make news on alts since it's hard to know about which alt to talk. You may say that it's not a problem, one can simply choose top 5 on coinmarketcap. But don't forget that eth is #2 but still there are many people who say it's a scam overvalued coin. Perhaps, the media doesn't want to risk its reputation. |
|
|
|
Most undervalued:
LTC, ETC, DCR
Most overvalued scamcoins:
ETH, DSH
I disagree that eth is a scam-coin. And how can you say both that etc is undervalued and eth is overvalued when the same platform and people are standing behind them? I agree that litecoin is undervalued and have contradictory thoughts about dash but you shouldn't be so hard on ethereum. As for my coin to this list - I guess nobody named it yet, although it's quite obvious. I'm talking about dogecoin. It switched to proof of stake system when it was 9 months old (although we know the switch is not that easy to perform). It is also quite used in gambling business. It costs ridiculously small amounts but the price is actually growing slowly right now. I predict it will become three times as big during the following month. So, doge should be about #8 |
|
|
|
there are two very different ways of looking at what you are asking.
as an investment to make profit
which is what most of us are doing. this means nobody cares about anything more than the profit they can get from the pumps, and for that you only need less than a month to see how the altcoin is performing nothing more.
as a real investment
for that you need to dig deeper but sadly these days there are no good project that is worth looking into as a real investment that has a real future and usage. most of them are basically created to give the investors money through pump and dumps. i sometimes see some projects that seem promising but they all end up in the same place.
I agree with this. In other words, this is the difference between a short-term and a long-term investment. Of course, to consider a coin as a long-term investment, I think it should be at least 1 year old, quite stable overall and have some interesting features or be already quite used in gambling or on markets. However, I think that if a coin is brand new, it is bad even as a short-term investment, because its price can fall down extremely fast and it's easy to miss the moment. |
|
|
|
Aren't they two different things? Why would the price of ETC relate to the price of ETH if it is ETH that has the most potential to go up in value?
ETH is likely going to go up in value.
I agree about ethereum but also understand why etc may grow as well. You see, miners have their hardware. They won't be able to use it really with ethereum after it switches to proof of stake system. Selling the hardware will also be unprofitable, because many people selling at once will cause the price on it going down. Thus, they are likely to start mining other coins. And perhaps, if they were used to eth, they'll choose something similar to it just not to make big changes. Thus, they might choose to mine etc after they can't mine eth. |
|
|
|
|
Monero and Z-cash can be mined using GPU as far as I know. I've been watching videos about eth changing from proof of work to proof of stake and some miners of eth say that they will probably go for mining monero after the switch. But yes, I agree, the more coins there are to choose from at that time - the better.
|
|
|
|
And why the demand will increase?
The demand is likely to increase, because the reward will be given for having money. So, one doesn't have to spend a lot on electricity and solve puzzles after the switch to PoS but has to proof having ethereum. However, the guy in this ( https://www.youtube.com/watch?v=PN9UXIsLu48) video says that for this change to happen we need a stable code (I hope that's not a big problem) and miners supporting this change. Otherwise eth will face hard fork and eth will be like etc is right now. The price will obviously drop big time in such a case. But I don't understand the following: miners are now having their income for solving puzzles. There will be no mining after the switch. Why should they support it then? Just because they probably have lots of eth now and they'll get reward for that? |
|
|
|
Move into btc now, alt run is nearly over.
I can't agree with this statement. Surely bitcoin is still the best but there are indeed good altcoins like litecoin, ethereum, monero, byteball and perhaps doge. And alts are improving all the time. If the OP is even convinced that alts are shitty, this still doesn't mean he/she shouldn't buy it. If one can earn money by trading, should this one be concerned whether the stuff he/she buys and sells is good or bad? I don't think so. And alts are now a good investment option. At least a short-term one. |
|
|
|
as to speculation.. zcash is the main coin in line to be #1 once eth leaves mining for POS.
There is plenty of time for new coins to arrive and dethrone zcash's claim yet though
The problem is we cant say that zcash will be as stable as ethereum right now in the means of acceptance. I think the price will stay below $80 for the next few weeks. Oops, you're already wrong since the price is $81,34 on coinmarketcap now. Z-cash was something outrageous when it was just launched but now the price is still extremely far from what it used to be. Some people say the coin itself is good because of it being able to cooperate with other chains. Yet I think nowadays this is not enough for a coin to be good. Besides, this thing about miners paying the owners for new coins... Perhaps Z classic will have some future. It's worth four dollars already and the price is growing in general. |
|
|
|
Haters and detractors be warned. Get a bag full while you still can.
No it wont. ETC has more potential (5x this year) Why does it? I don't think so. Ethereum classic is nearly dead because it suffered from hard fork. ETH is a lot more popular, its price is 10 times as big as etc's one. I believe ethereum has its great potential and some of it is even actualized. Fore example, ethereum gambling based on smart contracts. Isn't it something really new an altcoin offers here? This is impossible with btc and thus eth has its advantages. However, I think $100 till the end of the year is too much nevertheless. |
|
|
|
|
Show Posts
