In the upcoming days i think bitcoin will end the bank usage..
Do you mean that btc will kill the banking system? Well, it can be done in two ways: internal and external destruction. External if everything stays the way it is now but more and more people start using bitcoin. Internal if the banks take their risks and start accepting bitcoins. However, I think that neither will happen, actually. There will always remain many people who need some guarantees btc can not provide.
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I don't buy bitcoins, I earn and sell them (considering the price growth I'll start saving some, I guess). Bitcoin is promising, people hope they'll get rich one day when the price will be a lot higher. Bitcoin seems to be convenient for some illegal purchases as wel, so that may be a good reason to buy btc as well.
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Bitcoin seems to be better now but maybe it is just winning the battle, not the war, you know. Yes, now the price is growing, yes, you can actually use btc to pay for something more than you can use gold. However, gold has shown its stability throuout the history, so it would be very hard for bitcoin to gain the same authority.
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Accessibility is one key reason why people prefer bitcoins over fiat, bitcoins Is readily accessible 24/7 and the transaction fees for bitcoins are very cheap compared to fiat so any well meaning person would like such advantagess over fiat.
Well, yes, we can say bitcoin is accessible 24/7, sure, but if you have money in cash then it is accessible as well (if you carry it with you). Or the money on a credit card. It is mostly accessible as well. And when you have fiat with you, you can actually use it and to use btc you mostly need to exchange it which is not very easy as well.
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Wow! Is Trump really making some difference ? ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) Anyway, I think that theoretically the price can rise up to $2000 but it is not very likely to happen. I guess when the price will go some repressions by the governments will occur. I mean, some influential countries can all buy some btc and thus start controlling the price is they act together. Or some people will start to panic because of some stuff. Or, they'll just need the money to spend on daily needs and thus the price won't become more than $1100.
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I guess if the price is changing for $30 or so during the day it's totally fine. These are just fluctuations, you know. Just some accidental stuff, right? Somebody sold his/her bitcoins and nobody bought them yet or something similar. This is a 2-3% change. I guess even fiat changes the price in these borders from time to time.
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Yes, the prices are cheap indeed here and it is cool if it's possible to pay with btc, you know. However, I wouldn't have done it anyway, because I just don't understand how you can buy some clothes on the Internet. I mean, you always have to wear it to see whether it fits you and feel the fabric. Am I wrong? I would be better if bitcoin was all right to buy some stuff in real shops.
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In my opinion, the best way for steady income is to have a proper job, while doing some alternative jobs/income like bitcoins. Doing business is ok as long as it can manage in a good way.
Some business minded people says, Let your money work for you. .
They all say looking for a proper job is good but how about the salary are you okay with getting 200$ per month? how about the transfortation and foods? Alternative job is good when you know how to handle it don't work too much love your self first if you let your money work for you, you will going to invest that in fact in the world of bitcoin only a signature campaign can give you steady income, otherwise there is not any other way of making steady income from in bitcoin, Yes, only signature campaign is reliable and stable. You can earn around $100 per month and many people think it isn't worth it, because it is not a big amount of money but come on, guys, in many countries this is a normal salary, you know. So even if you have a nice job it is still worth to work for a sig campaign and just save the money. You will save approximately $1200 per year and after a few years will have a nice sum of money.
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It's funny how depending on the country you are, Bitcoin is a thing or another, but at the end of the day the algorithm and the way it works will still work exactly the same in Australia, Japan or Mars. Thats the beauty of Bitcoin and it shows how kinda dumb it is to try to regulate it.
I agree. Bitcoin is sort of universal and only our views on it differ. Just like with mathematics which was thought to be a priori true knowledge amongst many philosophers but early Husserl, for example, viewed it as based on our psychological laws, so like 2+3=5 was the same as 2pounds+3pounds=5pounds. So, we can say bitcoin is a currency, property, ponzi scheme thing but the work of the btc itself will be absolutely the same.
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Maybe I don't get something but how can people steal electricity? Do you mean having some free electricity, because of having miners in some national property institutions? We have something like that in my country sometimes. But China is fine, I guess. Yes, they have most of miners now but does it really mean they control bitcoin? I'd say they rather potentially control it, because they can stop mining suddenly and it will effect bitcoin price. However, maybe they sell the mined btc to smb else after mining, so thus they are not getting more and more control at least.
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The time is becoming closer and the intrigue remains. I think we won't. There are only a few days left and btc is only $850. I mean, yes, it's huge but still not enough you now. Of course, we can remind ourselves that Christmas is not only on 25th of December and win almost two more weeks (Orthodox Christmas is on 7th of January). Then it is quite plausible. However, what if a lot of people earn or keep btc till big holiday like Christmas comes, because that's the time they exchange the btc and buy some presents? Then the price will fall soon.
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If you are a programmer or some other guy many people need then you can try your luck on btc freelance sites. By working for a signature campaign you can earn $120. Well, you can try working for two (which is dangerous and hard, of course) and earn $240 in the best case. I think you need to come down from your dreams into reality, man. 1btc per month is huge money, you know. Especially if you plan to work 2 hours per day.
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$40 per day makes it around $1200 per month. Well, I would use some of the money to pay for rent and live ($300). Then I have $900 left per month. I think I'll save them for around 5 years. Then I'll have approximately $54000 which is enough to buy a nice flat in my country. Then I'll save again, this time to gather money for my future kids' education or travelling (in my country you can sort of easily get a scholarship for studying, because it is socially orientated).
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I think bitcoin is quite appropriate as the new form of money, because it is not only decentralised but, which is more important, it is pure math. Bitcoin is not a paper. It is even not the computer with money or the wallet. It is just numbers which exist in a very specific way, different from anything we've seen before as money. It costs nothing itself and yet costs $800, because people invest in it, mine it, use it and believe in it.
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I agree with the OP in his/her anger about using btc to gamble, buy drugs and watch porn. I mean, any currency can be used for such purposes, of course, but there are always some nice things it is used for as well. Thus, there is a balance there but if we think about bitcoin then it is mostly associated with such activities. However, it is not only the fault of consumers, you know. It is just hard to use btc for buying food, do charity or some other things.
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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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