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1  Bitcoin / Legal / Re: Germany Approves Cryptocurrency As Legal Means Of Payment on: March 08, 2018, 11:43:10 AM
That's awesome. Germany is paving the way for more governments to adapt the new currency.
I think cryptocurrecny is the future of money.  Grin
2  Bitcoin / Legal / Re: Why hasn't any government stopped Bitcoin? on: March 08, 2018, 11:28:51 AM
The same reason they cant stop DeepOnion or the TOR network. Because they are decentralized.
Bitcoin is a decentralized p2p open source crypto network.
3  Bitcoin / Bitcoin Discussion / Re: why some country banned bitcoin? on: March 08, 2018, 11:20:11 AM
Because it is decentralized P2P open source digital currency. Governments can not control bitcoin or any other cryptocurrency
like they can with the central banking system. So it's just easier to outlaw them. I don't believe they will stay outlawed in those countries.
Mainly because I beleave that cryptocurrency is the future of money.  As a matter of fact I predict by 2050 we will no longer use fiat money.
4  Bitcoin / Legal / Re: Buy bitcoin for someone else? on: March 08, 2018, 11:11:59 AM
Bitcoins are not illegal (At least not in the US) You can buy them from a friend with access to an exchange.

5  Bitcoin / Bitcoin Discussion / Re: Why people attract for the BitCoin than other crypto currency? on: March 08, 2018, 08:32:13 AM
Their are thousands of altcoins (Cryptocurrency)
Bitcoin is the backbone. All other crypto currencies are valued in bitcoin.
When bitcoin drops so do all other currencies if even just slightly.

Bitcoin is the 1st and most valuable. All other cryptos are directly influenced by bitcoin.
I think this co-dependence will end once another cryptocoin overtakes bitcoin in value.
6  Bitcoin / Legal / Re: Is Bitcoin required to pay taxes? on: March 08, 2018, 08:09:54 AM
Although,  it is in every nation's law that all forms of income should be taxed,  I do not think income earned from bitcoin can be taxed.
Bitcoin is a new technology and there has been no rules set yet for it to be taxed. It will be very hard to know how and when it should be taxed.
Besides,  the fact that bitcoins transactions are done anonymously makes it very difficult to trace and taxed.
However,  I still think if certain conditions are met, there could be a way bitcoin can be taxed


It does not matter what it is, or how new it is, or if their is rules in place. ALL income must be reported (at least here in the US) to the IRS

All income must be reported period! It's called "Income Tax" NOT "if you can prove it tax"

Bitcoin is not anonymous! It can be tracked and traced. I'll agree that no one can tell who owns each and every wallet, but that's not how you get caught. You get caught by selling coins to an exchange to be deposited into your bank. <----- This is when you get caught.
Banks must report deposits over 10k to the IRS, either keep the deposits low or actually claim the income and pay taxes on your investment.

If you want anonymous cryptocurrency look into Bitcorecoin, Clearcoin, Deeponion Coin, Shieldcoin, Monero, Verge, or Zen
7  Bitcoin / Legal / Re: Is Bitcoin required to pay taxes? on: March 08, 2018, 07:54:10 AM
In the USA any and all income you have earned (even from investments) must be reported to the IRS.

It's up to you to decide how to file. Bitcoin is a two way street, maybe you lost money buying bitcoin...
The banks can only federally report what you deposit and that's only the case if you deposit more than 10K at one time.
8  Bitcoin / Bitcoin Discussion / Re: Is bitcoin loses its popularity ? on: March 08, 2018, 07:40:46 AM
Quite the opposite. Be it bitcoin, Monero, zcash, or some other cryptocoin. Cryptocurrency is the future... 
It is true, cryptocurrency is a roller-coaster ride, but Bitcoin is the leading crypto coin. All others are dwarfed by comparison.
I think the crypto world will keep growing until fiat money is phased out completely. Bitcoin is and will remain the leader.
Bitcoin is the backbone of crypto currency. Other cryptocurrency's measure their worth in bitcoin, not just USD, EURO or GBP
When bitcoin drops so do ALL other coins if even just slightly.
9  Other / Beginners & Help / Re: Which wallet is the best? on: March 08, 2018, 07:21:22 AM
I use Jaxx, electrum and Bitcoin Core.
I would not recommend Bitcoin Core unless you have more than 200GB storage space.
I like Jaxx because you can add several different cryptocurrencies.
Electrum only supports 1 currency per wallet.
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