Finnish Central Bank concludes, Bitcoin does not meet the definition of a currency, even an electronic payment method. Thus, this virtual currency was considered by Finland as a commodity. Finland is the latest in the world to try to control the spread of virtual currencies that are not under the control of any central bank or government, typically Bitcoin. Recently, European authorities have repeatedly warned about the risks associated with virtual currency, while attempting to design legal frameworks to protect consumers and businesses from the risk of damage. These types of money. In Northern Europe, outside of Finland also Norway also see Bitcoin not qualify as currency. Meanwhile, Denmark has announced it is establishing rules to treat Bitcoin and other virtual currencies.
I wonder how the Finns came come to such conclusions? Why bitcoin is a commodity? Any product must have physical properties. They do not want to accept the bitcoin currency but they really want to have taxes from the sales of bitcoins. This is the easiest way to legalize the taxes but it does not bear any responsibility. Another FUD I guess. Attack from the biggest media will be the best news to do it but goverment can't control it unless you put an internet blackout. Waiting again for this food to make a hot coffee ready serve by the journalist. |
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I don't think that government able to control bitcoin because it is decentralized but market mess will be created over and over against bitcoin and alternative coins .
Panic in the market is created by those people who do not want to believe that bitcoin is a very strong coin. With every minor news, they begin to panic. I think that the government has no way to ban bitcoins Jamie Dimon taken as a recent example. His bashing did not really caused a panic, but his origins are to be considered. Goverments are overated in a globalized society. Corporations expanded into the scale of countries. There are banks of that size. A goverment has ruling limits documented by their constitution. Any of the other players of compareable sizes are not limited by something even similar. I think they are the real thread. And those got a lever into politics by lobbying, bribery or other means. I don’t so because still the governments have no control over bitcoin because of decentralization. They can just ban the trade in bitcoin like China. But as we see that now China is also has a soft corner for bitcoin and may they legalize bitcoin in the near future. The statement of a single person should not be taken seriously. It is his personal opinion and not the voice of all the people around the world. Government can only stop bitcoin in their country if they have any kind of control over bitcoin. Since bitcoin is decentralized in nature, so the government has nothing to do with stopping of bitcoin. Like you said, government can only ban using of bitcoin in their country but that is also not possible as the people are earning very good amount of profit from bitcoin which is making the economy of their country better. Does the government can block the internet site? Just like in China, facebook was banned. I think the government of a certain country can stop bitcoin, but as a whole it would be impossible. Some country are interested in this new technology which they want to adopt because of faster system of transaction which blockchain can offer. Bitcoin will grow exponentially if other countries will follow. |
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is it risky to turn all my money to bitcoins? anyhow this money sits in the bank and do nothing for!
If you move all your money in one place, no matter what place, of course it is always risky. But I'd say Bitcoin, if you don't do obvious mistakes while holding it, is probably one of the least risky places. Buy while the price is still low compared to what we can see in the future years and hold, don't panic even when the price goes down. I agree, bitcoin is compratively safer options than most alt coins and even Fiat nowadays. They say a big economic crash is gonna come soon, which will be felt in all sectors of the economy. Crypto is a nice hedge against that. Basically we should not invest all our money because of the risk involve. Cmpare in banks, even if your save it in a year, the interest are very low unlike investing in bitcoin which really a have a long term investment the return is much bigger. The higher the risk involve the higher the profit. |
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To be fair. He's just stating that cryptos bring some risks with them. That's not an attack, it's the objective truth. A lot of people have lost access to their private keys, have gotten hacked, fell victim to phishing attacks, fell victim to marketing scams, fell victim to outright scams, or just simply traded like a gambler plays roulette.
Money laundering and tax evasion of global scales could also easily result in massive chaos if it just happens with absolutely no oversight.
But whatever his true intentions are, this is just a sign that we are on the verge of mainstream adoption.
Yes that's correct most likely some of them did not even read the article just check the headline and assume that Putin is attacking cryptocurrency. Putin concerns are legitimate. As a state most likely they want to avoid money laundering and tax evasion. We know that cyrpto currency are being used by the black market for their own gain. Most people on this forum seem to just read the headline and then post random stuff based on that alone. Sometimes it feels like I'm in a forum full of bots. But yes, you are exactly right. A sensible government would want to avoid tax evasion and laundering. Eventually they will have to protect the stupid and greedy people from themselves too, because they will start complaining about "scams" instead of being careful in a risky environment. It's like jumping down a cliff and then complaining about it... people are really weird. Best editors ever. Sniping the tittle just to caught attention in the web. Again, FUD will again resurface but people don't believe to this manipulation anymore because bitcoin rises again strong. But I think the news are just warning to be careful because of the risk involving cryptocurrency. |
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Nowaday the number of restaurant that accept Bitcoin for payment is increasing day by day. I'm living in Vietnam and after long time to wait finally there is one restaurant in my country accept Bitcoin and some other altcoins like ETH, XMR for payment  ) I'm very excited when I can find it out in my country cause I think that Bitcoin is not legalized in my country so it's impossible to find out a shop or restaurant that accept Bitcoin in my country but I'm wrong, I found it  . Hope that Bitcoin will be accepted in everywhere in all over the world soon Using different cryptocurrency in payment will be difficult specially if fiat money continuously changes. I think bitcoin will be suited to it because it is the common currency we usually use just like dollars. And theres a lot of mobile wallet that are available today. We should take this step by step. |
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First, I have it introduce it to my partner. Then I created a group in Facebook and add my family and close friends. At first, it was very difficult for them to accept bitcoin until i show my earning and posted it in the group. They are amaze how i earn it and one by one, they pm me in every topic they don't understand. Every important things to remember before joining in the forum, wallets to be use, form of post to consider and etc. Until now, I'm teaching them the basic, hope it will be worth it to teach them for their own future.
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Hello,
While investing in stock, commodity, bitcoin, alt-coins, forex etc one could go with
1: Lump sum purchase of big amount. Purchase bitcoin in quantity when price is comparatively low that previous weeks. Purchase date, timing could be adjusted as per individual suiting.
2: Other way is to follow the SIP that systematic investment plan. This SIP will purchase bitcoin worth $100 or whatever predefined amount. So monthly purchase of fifty dollars or convenient one worth bitcoins will be purchased. Irrespective of price of bitcoin at that time.
What do you think which one works best in long term? and which one works in short term? Which will earn better profit?
I think the scenario 2 because its just like averaging your investment in any price that could come but I still suggest to still buy at low. Since bitcoin is volatile, we really cant predict what will happen if the price will be bullish. Grab every small dump because the profit is there. |
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The much talked about ride is on, to bullish. Who is riding with it ......  I didn't support bitcoin when I learned about it 4 years ago. I admit that it was a bad decision, if I could've supported it, I would've been a millionaire today. So, now that I'm back. I'm going to support and trust bitcoin with all I can, and keep investing and holding bitcoin. I don't feel the way you feel bro because I started getting into bitcoin late but my philosophy of life is in this respect is that, it is never too late to join. Remember there are other skeptics out there that are in our shoes back then. Ride on... I wasn't able to trust bitcoin because when I learned about it I thought it was a scam. During that year there was a lot of investment scam that was happening in our country. So, I doubted bitcoin because I was wondering how can you earn money through internet investment. Well, it was a mistake and lesson learned.  Mostly here, people thought that bitcoin is a scam. But reading all through out the forum, potential of it really been great specially upcoming project from different developers. This ride on will take until the end of the year I think. Hope you have HODL in it cause I have. |
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Crypto has its risks as well beneficts, use bitcoin for trading is one of the best sources and easy way to make more money, sure isnt an easy task and not all of them will lead into the sucess and profit. There are a few altcoins being able to loose and recover while others just get dumped and left or used to pump and dump, each person should always search about the coin and the use of it.
Trade in alternative coins is very dangerous. Especially if you do not have experience. Therefore, I recommend newcomers to trade only bitcoin and some coins from the TOP-10 In contrary, for me trading is one of the best source of income because we all know that alternative altcoins are worth it to buy. Some traders are earnings profit double or triple of their capital, that's why more people are encourage to join in exchange sites. definitely I'm one of the traders but I have lack of knowledge to be one of the best traders in bitcoin community. You probably have a very good intuition. When I first came into the market, I did not manage to earn money. But I managed to lose them. Therefore, I consider the trade very risky Trading is a great way of making money in the form of bitcoin but we all should keep in mind that it is risky as well/ trading demands a lot of hard work and sound knowledge about coins and their market trends. It is not easy and sure that you are going to have profit every time you trade. Sometime trading puts you in great losses as well. I am not a big fan of trading that to with bitcoin. Yes your right maybe trading is the best way to earn Bitcoin in a fastest way. But if you look at the it has been done you need to be knowlegdeable about the market. You mustbknow when is the right time to sell and buy BTC. For you to earn big profit. However in the mining, you need a enough capital make your investment more profitable. The best way to earn in trading without investment is to join the bounty campaigns from a potential project which are entering the exchangers after the ICO. Starting from this, you can check the projects that can sustain its marketability also you gain knowledge of the project. From my experience in trading alt, everytime bitcoin rise, altcoin dumps. It is way better to invest in bitcoin than going to exchangers to trade because having higher risk. |
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Hey everyone finally the price of bitcoins is increasing and was becoming more stable but ! Its price is again decreasing now... You know it will be very nice if you guys instead of dumping them hold on to them... Dumping the bitcoins in panic because of the fear of the price never reaching this high value in future.. does affects the price of bitcoins in a very bad way! Yes some people get profit form it but!!!it decrease your future chances of earning even more higher profit... And so does for everyone else... we see many people gets panic when they see the price is down and they do fast selling without thinking much. i think they do this is because they buy bitcoin when the price is at high price so if they don't sell now, they can make profit and they will only loss their money. but for me, although the price is down, i will keep my bitcoin because the price will be back increase later. and if i still have money in my account, then i will buy more bitcoin just in case to prepare when the price is increase again so i can make more profit. Keeping bitcoin will be much profitable today. But it still up to the person if he want to sell it for personal needs. We can't avoid this although we all know that will really going to comeback strong. Just remember that buying bitcoin is still a risk so don't put all money on it. People should grab every chances to buy bitcoin in the future. |
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The answer to this question is simple. Inflation.
Inflation will happen if we just print paper money to pay debts because the money supply will increase. And and as the money supply increases, its currency value then decreases. Simple economics. Now would you rather pay the debts in a long way or pay your bills, consumer goods and everything in a very spiked up price? Everything needs to be balance and so is the money supply in order to have a good economy.
In addition, US treasury only decides when to print money. Federal reserves control the supply creating interest rates. Economy play an important role here, if the supply of money increase, the interest will be lower and businesses will increase because of lower interest. Spending will be more frequent. Just like you said, it was simply inflation. |
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We can not push anything to people to use bitcoin, this is because bitcoin is banned in different countries, if we push then I'm worried about breaking the law and we'll be imprisoned.
However it is very remarkable that in the countries on which bitcoin is forbidden, people understand very clearly the importance of bitcoin as a protection against the state, in a country like Venezuela dealing with bitcoin is forbidden but it is very obvious to their citizens the importance of bitcoin, they do not have access to dollars so the only thing they can do to protect themselves of inflation is to get bitcoin. You are right. People can appreciate only that to lose. When we hear news about that in any country banned the use of bitcoin in no way pushes us to action. It's bad. Miners, developers, and users long ago need to develop a common strategy for the development of bitcoin. The actual use must be one of the main goals. Necessary condition for this. This is why I think we are going to need a huge economic crisis so people wake up from their sleep, as long as people have internet, food, shelter and other stuff they are not going to see the need for adopting bitcoin but once they are suffering they are going to understand very clearly why something like bitcoin is needed it is a sad thing but most people only learn of experiences like that. We can only use bitcoin if all people have internet which are the common communication for the millennials. But what about older people and countries that don't accept bitcoin? If the government can recognize the positive benefit of using blockchain, I think the government itself will require its people to put it on actual use. Special today, money are being withdrawn thru ATM which are digital. Transactions will be more faster if bitcoin will be use. I think the most business will be affected here are the banks and other businesses which pays taxes to the government thats why they are not promoting it to common people. Hope in the future it will put in use in a positive way. |
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Of course this is a risk whether you sell or not, but in the end some currencies will be described as garbage and they will lose value, I hope you will not choose one of them
another thing to consider before start mining alts better to understand the road map and the significance of certain project whether if there's a real uses along the way, holding those that have a great future and adn a good back up dev will assure us to gain much bigger profits while holding our rewards but the risk still there that we select project that will turned into scam and haven't got any value at the end. Bitcoin is the better in the investing process and enabling the mining. It will give more profit mining is the best way to process the internet. Mining is the better the best way to get more income. Mining I save the bitcoin for the future investing process and I get more information to the mining. Mining is helping to future business processes Mining altcoin today is very difficult because competitions of the same platform are involve. I agrees that mining bitcoin for a long term will really make a profit specially for the future of the bitcoin. I have already lost a lot in some altcoin thats why I focus now on bitcoin because of its potential to increase its value this last quarter |
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