Future of Bitcoin Economics depends on mass adoption of Bitcoin. No body can predict accurately the true future of Bitcoin.
You are absolutely right but if we are speaking this way then nobody can predict the future of anything, you know. There can be some probability of different futures though. It is connected to btc as well. We can say it can either die or live at first. Then if it is to die, we can try naming the plausible causes (new inventions, war of everyone against everyone). After that we can think about it living with drops and growths in price and all that stuff. |
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Well, how much does the house cost, at first place? Is it around 1 million dollars? Then I guess such a price is in the far future possible for btc, I mean the time in 200 years when all the btc are mined and btc is gaining popularity. However, in dollars the house would cost 10 million dollars then. There can be another interpretation of the question though, because trading a house for 1 bitcoin is not only about the price but about the popularity and ability to use bitcoin officially. This I guess will come faster than the first one.
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Hello,
I have started earning bitcoin by doing technical jobs and website design I have saved up quite a bit of balance over the previous 8 months I have not actually sold any into my bank account as I was worried about the tax implications.
If I buy for example GOLD bullion with my bitcoin, does that mean it is tax free?
BUT if I sell my bitcoin for fiat such as GBP or USD I have to pay tax as it's considered income?
Am I correct in saying this, if so would I be better buying gold than cashing out?
I only want to get rid of my bitcoin as the price seems to be dropping
We can skip all the complications with taxes and stuff. In theory we have to pay taxes, of course. In practice you can ignore that fact and I think it is easier to do it so, because bitcoin is not actually regulated in the countries mostly. I think it is a good advice to find some people on localbitcoins and sell the btc. Then you take the money and buy the gold if you want to. But keep in mind that btc price can become a lot more than now and gold is just quite stable and reliable. |
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This all spunds like a fake, you know. Private kay is unbreakable, so you can only give it to smb or use a fake access site (pseudo-blockchain). Keep calm. If your money was still with you when you were writing the post, I guess you knew it's safe and unreal. Well, anyway, just clear up the computer, get another wallet and set a new password.
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Well, the btc adress which changes from time to time and at first you are not sure whether you will recieve the money, because of being afraid that the old adress is false now. And yes, the price. I still use preev to convert money, because it is hard for me to understand it in btc or satoshis. Another thing is that you can't really use btc much in your life and you are sort of afraid the price will suddenly fall and you will lose a lot.
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I have been trying out the martingale strategy for dice but was wondering if anyone has a good modified martingale strategy or any other ideas to try.
There may be lots of strategies will be available but if you're looking for a good one then you may end up disappointed only. If you ask me, martingale is a very good strategy and if you are doing it in player vs player games in real life, definitely you will get chances to make profits. But, I do not know how gambling sites are managing for such long losing streak to throw us away. As for me, even in situation player vs player martingale will eventually go wrong. Someone usually thinks that a small chance for loss is just a small, merely absence of it. He overuses it and at the end he can't understand how it comes to loss, when he was all the time trying the luck. So, martingale can by effective, but only by the luck, when you know your and the strategy limits. |
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I think that there are some certain things which make the site suspicious but we can never be sure, really.
1. Too good to be true. When the site offers you something very profitable and a lot better than you've seen on other sites.
2. Not very popular. This site seems good but you haven't seen it in some top-10 best sites on something.
3. Poor design and low price of the site which can be checked on some additional sites.
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Well, I'm not sure if I understood the OP's question properly but I guess mining needs some time to occupy the sums (about 6months), so you better wait till you gather the sum you spent, at least. Then you can sell this money to get the real sum you spent back in USD. After that if everything is still working you can wait a bit and see how the situation with the price is going and sell the money when the price is fine for you and when you know on what to spend the money.
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its not easy to make 17 btc out of 7 btc, but not impossible to get it if do you have a skill in trading or gambling. remember! high risk high rewards.
I think it is nearly impossible to get 17btc out of 7btc by gambling. You are more likely to lose everything than to win, so yeah, you're right about the high risks. I think it is better not to be greedy. 7btc is now $4900. It is quite a big sum. You better spend it on something that will make your life more bright and forget about investments. |
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Well, maybe the governments don't want their people to risk and blame the gov then. However, I suppose in such a case there will just be some advice not to use it or that the government does not provide any guarantees. I think bitcoin is just dangerous for countries. Big sums of money without known owners and control. And the main problem is that btc shows people can deal with each other and have a strong currency without the state and the government.
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Unfortunately, I doubt you can recieve the money back, because nobody has the information to whom the wallets belong. You better change your password, clear computer from viruses and that's it. I think you can only try to draw attention to that guy, you know, maybe it somehow was an accident. So you can send to this wallet a tiny amount of money yourself and see what happens. Maybe the owner will decide to send you your money back.
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I think that nowadays we can deal with Satoshi and don't need to have something smaller. As for something in between, I think there is no need of that even potentially. But let's return to something less than Satoshi. If btc grows up in price enormously one day then 1 satoshi will be, let's say, 1 dollar. In such a case you won't be able to buy smth for less than a dollar and something worth 2.5 dollars will actually cost 3 dollars to you. However, I think it is impossible to change it.
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It is nice to realise that among us there are mostly people who are interested in programming, so they not just want to understand how to earn money but they want to understand the nature of btc and, maybe, make some currency of their own. I also chose this option although I'm not very strong at programming. It is just that I don't think people can really teach you how to trade or mine properly, whereas there should be people who can explain what is bitcoin and how it works.
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Probably bitcoin will never replace dollar, IMO at most it will become widely used, similar to euro in Europe.
Certainly, for sure it can or it will be used widely in the world after a few years, though it is already used worldwide but it will get more popular with time but as you said it wont be able to replace a currency like dollar which is used in a large extent in the world. Nevertheless, popularity isn't the only one thing which bitcoin requires to be a currency like a dollar. With that BTC also has to be currency that used by states. Since this use is supposed to be total, BTC also ought become currency for taxes. However, that'll kill BTC. BTC is special just because it exists without states and taxes. And BTC replaced USD will became a new USD. When BTC fights monster USD, it becomes monster USD (allusion to Nietzsche). |
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If the OP is right then eventually these bitnotes will just replace btc and thus sort of kill it. I think it is not a good idea to connect btc to paper, because it just wasn't supposed to end this way. Btc can only exist in a digital state and it is totally fine. The banks should stay away from btc and not try to spoil it with their own problems.
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Not at all. I think that now some people tend to choose fiat not only because it is regulated by the government but because it is material as well, so they are sure they have their money. If all the currencies become digital then fiat loses this second advantage of it. The differences between btc and these curencies will be seen shraper as well, because btc gives freedom when govermental currencies will look like bad copies of btc trying to take people's freedom away.
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The time we say goodbye to USD is definitely coming some day but it can be a very remote future. At that time some other country might become the strongest and we will be just orientating on its currency. So, there might not even be this situation of collapse causing much of panic, because people will get used to some other currency at that time anyway. Gold or bitcoin? If the time is good and people are peaceful then btc. If it is war everywhere then gold.
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Gold is trusted more obviously because it has shown its strength within the whole history of humanity. Btc is too risky, because it is new and hasn't got some guarantees of it being worth anything. If you have gold you can be sure that you'll be able to sell it anywhere and anytime. Bitcoin, on the contrary, is illegal in some countries and quite unstable as well.
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I don't think that bitcoin will ever be stable
Why not? I think there are certain factors which can make btc stable: 1) prosperous society, making people believe more into ideal thigs like btc; 2) governmental control, which will allow to regulate the price; 3) More btc users. The more users we have the less changes can be made by some specific ones, because there tend to be less people having a lot of btc and so the influence potential is becoming more equal. |
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You are saying it took around 15 days last time till it has risen up to $1000 but I guess it is already more than 15 days and still no signs of even $800. It is different this time. Mining is difficult and winter is not the best time, because the electricity is becoming more expensive. My guess is that it is going to stabilise soon.
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