Lot of countries do not allow to use crypto currencies and they discourage using them. However as far as I feel, trading with crypto is not that harmful for the economy of the country. As an example, if a person has Eth and someone from another country needs to buy Eth, that buyer needs to pay the seller in terms of dollars. Then that seller needs to convert that Dollars to his native currency which means it creates a the demand for the native currency and increase the value of the currency. May be the government is unable to add a tax on such transactions but it is beneficial for the currency used in seller's country.
What do you think about that?
some countries are not open to crypto because mainly, they cannot taxed them, they cannot control the currencies that are coming from outside their jurisdictions, they tend to illegalized it for the main reason that they cannot milk money out of the anonymous users. foreign currencies that are entering their countries are untraceable. they cannot accept that their people are getting rich and they are not. they cannot measure the actual purchasing power of their people that may lead to inflation. |
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I've read an article in the internet that cryptocurrency exchange is growing in number. As of now the number of exchange is already about 500 and counting. Other countries are now creating their very own exchange, does this means that cryptocurrencies is being acknowledged better now than ever before? And if it does, does having more exchange could greatly affect the prices of cryptocurrencies?
well yeah, having so many popping exchanges out there is a good thing for both bitcoin and users, more exchangers means more options and choices for the users, this will eventually results in low cost of exchange fees and will increase users that will demand bitcoin, more demands means higher prices, surely be profitable for the traders and users. |
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Hi,
Let's suppose that Bitcoin became adopted everywhere such as paying bills with Bitcoin,getting salary with Bitcoin,shopping,restaurant etc...
How your country gonna survive if you only use Bitcoin in a daily basis? I mean a country cannot survive if individuals doesn't pay taxes,well with Bitcoin you don't pay any tax right?
How this gonna be possible? Please shed for me some light on this.
Thanks
this will happen only when the price of bitcoin is stable and not so volatile, and when internet is accessible by every common people. since bitcoin transaction is digital, internet connection is a necessity. but if this would happen and be possible in the future, i think blockchain technology will be the prime trend in the future. if a country is very much developed like russia and other European country today, then bitcoin transaction will be the main mode of payments and purchasing method that will be in use. |
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Nowadays situation show us that BTC is safer than alts because it loose its price slower. Some alts fall far beyond ICO price.
I agree, if you look to the price of altcoin and bitcoin you will see that altcoin is much lower than bitcoin price, but selling altcoin just to buy btc is not ok to me, having bitcoin is great but always remember that don't put all your money in one basket. it all depends on the current market value of bitcoin, since bitcoin is volatile, we cannot fairly say that btc is always the best out there, yes it is best to put your money in everything it can buy, not only btc, alt coins are dependent too on bitcoin price, if btc drops, alts drops too, we cannot sell alts to buy btc everytime the price drops, it depends on how rapid the price increase will be, may it be alts or bitcoin. |
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well, yeah, i think they will consider to join in, but i guess jumping from one investment to another will be a serious thing for them. this game of investments are too risky to play with, a simple news like this would really affect the stock players, just like traders and owners of bitcoins, a negative speculation would result a drastic trend on the current digital market. if ever this happens, i think there would be an adverse affect on bitcoin and cryptocurrencies as a whole, since stockmarket is one of the basis of economic trends. |
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Most of you have probably heard about George Soros a billionaire who is reportedly taking an interest in cryptocurrency trading. Just before this event, he's been negative on bitcoin, calling it a bubble and etc, but with his sudden interest now in trading with his $26 billion assets, I guess we could probably say that he saw the potential of cryptocurrencies. How do you think will this affect the market and all the user of cryptos? Can we expect a price spike in the market then after a while, a sudden downtrend movement again? he is just one of those people who had an interesting story about joining the bitcoin community, surely, if he decided to invest in cryptocurrencies, the effect would vary on how much he will invest and the effect on bitcoin popularity will i think add up more trust rating and somehow will make billionaires like him to really think about bitcoin and consideration of putting some of their assets in this very remarkable invention as far as digital wealth is concern. |
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i think this will help us in gaining trust rating and therefore adding popularity of bitcoin but i guessed the correspondents are already rich countries, business minded and economically stable countries, i think they are less interested in cryptos because they have other sources of income, maybe the best way is to include 3rd world countries to really be fairly represent globally.
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I understand that being a bounty Hunter can make money and improve the family economy, but do you have other jobs? because if I just rely on money from Bounty I think it will not be enough.
if you are here in bitcoin just to join bounties and campaigns, for sure it will not be enough to cover your financial needs, sometimes, bounties end up as a scam, sometimes the payment was over delayed, most of the time, the coins they paid you will be deemed worthless because you cannot trade them, even if you can trade them, the price will not be pretty good enough to compensate the time and effort in joining campaigns. for this, another source of income is needed to sustain your financial needs. |
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What will happen on BTC if the government will said that all the bitcoin holder have to pay their tax??
Maybe the expansion of BTC community will get low than usual.
if the govt can identify the bitcoin holders, lol. even if they tried to track down a single user, it will take them months or years, what more if they tried to track millions of holders, do you think this will be fine? a govt changes every election period and views of each govt is sometimes different from their predecessor, maybe at present, their govt are active in tracking bitcoin users, what happens after the term if those govt. it will be very difficult for them to centralized bitcoin. |
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blockchain technology is based on the social response of the people, it has nobody that maneuvers it, the users are taking the turns on when to profit or loose your money, therefore blockchain is dependent on trends, it is very difficult to understand blockchain and how the system moves, it is unpredictable because of its technology being a decentralized, and publicly viewed. that is why it is hard to manipulate it. what affects it is the traders who sell their assets when they feel the price is getting low, creating panic selling, therefore creating trends. that is why blockchain is associated with trends.
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the problem with some people is that they see bitcoin as valuable only as an investment, they are just looking at one side of what truly bitcoins is, they only see it at an asset intended for investing only but it is just one side of bitcoin, originally, bitcoin was intended as a tool to purchase online, but sooner, as it developed, because of its high demand, it developed into an asset that eventually became expensive, of course it is a psychological experiment because it involves the behavioral pattern of users whether to sell or buy depending on the trend, and the fact that is an investment, any investment requires the capacity of every owner's psychological and social response to market demands. but it doesn't mean a multi million trader is not serious in his investments in bitcoin, it involves money, of course its serious.
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yes, you can mine all you want, you can acquire more bitcoin all you want and whenever you want, there is no tax but when you convert it to fiats, then you will have a problem with tax, when you transact it on an exchange, there will be fees that are subjects to tax but it was being shouldered by the exchange sites, then they pass it on the users covered by high fees and expensive conversion fees.  |
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I have started to buy small amounts which I plan to hold but I really don’t like the volatility. It is also difficult to invest in something when I don’t really have any history to give me a clue of somethings value. I doubt I would hold if bitcoin went over 5000. It seems to be moving a bit too fast.
this is correct, what makes bitcoin so risky for short- term invesments is the high volatility of the price, the quick and rapidness of the trend to change is what makes it difficult for experts like you to intuitively manage the returns. in just a matter of minutes can be drastic and can be profitable at the same time, unlike any other investments that has less volatile like properties and gold assets. |
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Many people say the government is not interested in cryptocurrency. Many people think the government has prohibit crypto to protect investors from risks. Maybe in your country, that's true. But in some countries, especially developing countries, the government just wants to rob your assets. They rob publicly, lawfully and as much as possible. they are really bandits.I'm not afraid what they do. Because we have many ways to fight them. But this world is not as simple as you think.They can kill you if you are demonstrating. You can ask any vietnamese that : Do you support your government ? I bet 99% answer is never. 1% remaining I'm sure they are goverment employee or their family.  well it think the issue here is being nationalistic rather than bitcoin, it really depends on what type of govt we have, each country has different outlook on bitcoin and other cryptocurrencies, we have no hopes if we have a corrupt govt, not only on crypto and bitcoin, just like any investments, since cryptocurrencies defines by being financially free, having the power of one individual over his finances, corrupt govt hated this, that is why they defy it in the first place. |
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We have seen reports lately that the US Justice Department has opened a criminal probe into alleged price manipulation of Bitcoin and other digital currencies. We have seen for months now that the Bitcoin price cannot get momentum and as soon as there are positive signs that it is recovering, then it drops down again. In many of these instances there are no negative news that would have triggered that downward spiral. There are also no Alt coins with significant growth during these times, for us to say that these Alt coins are the trigger behind this. The only logical conclusion for this is that someone or a group of people are "killing" the correction phase of the Bitcoin price.  Do you think there are some sinister agenda behind this or is this just Bitcoin whales doing their normal thing? for me, there are few people who are trying to manipulate the price of bitcoin in the market, but it doesn't trigger this downfalls that we are experiencing today, what really triggers the price correction if there is really such thing as the triggering factor is the trust issue of users regarding bitcoin hodling, many are affected by these kind of news, many panic sellers and users in short term investments. we all know that there are millions of small time users rather than big-time holders, if those million users act at the same time on selling their assets especially today, the market responds reciprocally. |
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As many experts and economists are predicting recession in near future, will Bitcoin emerge as safer asset globally during recession like gold and similar assets, global investors might look for a global standard asset as compared to regional or fiat currencies which devalues in recession.
bitcoin price depends on the users, if many are capable in acquiring a bitcoin, the price will go up, but if there will be a recession, the price of bitcoin follows the downtrend, let us look at this example, many people are not yet into bitcoin, from the time it started to circulate online, the price varies, as the demand increases, so is the price of bitcoin, depending on the market, since we are talking about globally, the ratio is unparalleled. if recession occurs, the buying power of a nation is diminished, followed by another nation and so on, we can expect a deterioration of bitcoin price due to the diminished demands for it globally. therefore, we cannot say that bitcoin will still be safer if recession occurs in the future. |
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of course, users platform will be drastically changed, and more eth owners today will be billionaires in the future, just like what happened to bitcoin owners in the past where bitcoin is not so expensive, today they are the millionaires, if ever that happens all major markets and merchants that are accepting bitcoin will turn to eth and same as campaigns and services that pays bitcoin. not so shocking because we have experience it with bitcoin already. turning to eth will not be so overwhelming.
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well, yeah, hoarding or hodling your investments are not healthy depending on the percentage of yearly inflation, it is not wise to just sit and look at it for 5 years without even cashing out a penny, the statistics last 5 years ago is different from today, if you based your stats for the past 5 years, you will loose a lot, considering the new factors that affects the price, obviously, the factors 5 years ago was way to different, the market is ever changing, 5 years is too much. let us talk about 5 months rather.
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this is the uniqueness of bitcoin being so highly volatile, today's price is surely the worst since the beginning of this quarter, but many wise traders are eyeing on this price, for them to acquire more coins at a way lower price, when the price spikes, then it will surely be a bigtime profit, let us look at it as an opportunity to buy more coins and not panic sell, if you sell today, then you have lost your ticket to profit and earn big.
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