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Investing in any financial market is a risky business. There is a chance of high profit and and high risk. Cryptocurrency is not different from any financial market. This is a place for high risk taker.
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This is a great news for the BTC market. Definitely there will be a positive impact on cryptocurrency platform. I believe this news carries a high value. Thank you very much for coming with us.
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Banks are the backbone of any financial market. Without banks no business and countries can live at this modern age. If banks start using BTC or cryptocurrency then it will be a revolution in the cryptocurrency Platform. The sooner banks use BTC the better for the cryptocurrency market.
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Paying taxes on crypto depends on your government, if you have a tax law regarding with crypto then you need to pay since its compulsory, but if there is nothing then why not enjoy the freedom of not having! because in the future all crypto might undergo surveillance for tax monitoring.
If you think about it in the legal sense then all your income should be taxable including income from cryptocurrencies but then some countries aren't that strict in checking the income of some people because they are busy with other things that are worth more so many people or shall I say majority of the cryptocurrency enthusiasts from our country do not pay taxes because there is no strict rule applicable to to it currently. The government may require the platform the people are using though so that it will automatically deduct taxes from the transactions and they wouldn't have a hard time tracing and collecting it individually. Paying tax and doing charity are great things. But we should keep it in our mind that cryptocurrency platform in a infant stage. Too much rules and regulations can destroy this industry. I don't think it is a right time to impose tax on cryptocurrency. |
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Rules and regulations are important for every platform. But imposing too many rules and regulations on new and rising business is a bad thing. Cryptocurrency is a new and infant industry. It needs time to be successful. But I don't thing so called rules can destroy the BTC or any other cryptocurrency at all.
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Look at the dollar. Most of the countries have its own currency. But every countries have to trade using dollar anyway. BTC is like that , there are lots of cryptocurrencies but without BTC cryptocurrency platform is not possible.
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There is no relationship between oil price and BTC. But if oil companies accept BTC as a payment than price of BTC will be too damp high. And it will be a great achievement for the BTC to get global currency.
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To me the answer is No. Money alone doesn't make an individual rich. A lot of people go to work everyday, working for money and making more money, but fail to become richer. Ironically, many only grow deeper in debt.we have all heard stories of lottery winners who are instantly poor again. Also there are cases of real estate going into foreclosure instead of making homeowners richer. We all know of persons who have lost money investing in the stock market. Maybe you are one of those individuals who have lost money investing on cryptocurrency,Bitcoin to be precise. Even investing in gold(real money) can cost the investor money
For all intents and purposes, it is not business, estates, stocks, bitcoin (crypto currency) or money that makes a person rich. It is information, wisdom, knowledge that makes one wealthy.
The definition varies person to person. If we consider rich as a material prospective then lots of money need to have to be considered as a rich. But if you truly want to know about the rich then the charactistics will be , knowledge,good heart, truthfulness. |
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If bitcoin is applied as a future payment method then it may be advancement of this technology will be felt in the digital financial sector where all oranh do not need to bring a wallet because it has been replaced by enough to bring a smartphone to be able to perform various payments or other transactions. We do not need to change any point of view because however long as bitcoin has value then bitcoin will continue to be used by people who hold it either as a means of payment or investment media.
My opinion is a simple one. We all should have some BTC for our own shake. I strongly believe that BTC will take away the fiat currency today or tomorrow. Just think if BTC got the recognition as a universal currency then it's value will go up too high. |
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It depends on the market situation. I will analyse the situation. If the market is in good position then red is not a problem for me. I know red in bullish market is not a concern at all.
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Large groups of well paid, organized, funded professionals with clear objectives and good management - (like R3, hyperledger, ethereum, others) are sure making those Core programmers look like the silly little whiny bitches that they are. Core is going NOWHERE and getting there pretty damn fast. Meanwhile, very sophisticated advance is being done every day in other part of crypto/blockchain.
This is 100% the end of bitcoin as we know it. Good thing too. This 'open source', 'no leadership', 'no organization' thing was always a load of bullshit.
BTC is a open and decentralised digital cryptocurrency. It will lead the market eventually. No one can beat the BTC with this conventional cryptocurrency and shirt ideas like this. |
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This year, all altcoins are only falling in price. I hope at the end of the year we will see a mega pump. But so far it turns out to make money on new ICO and bounty.
This is just a initial stage of cryptocurrency for sure. Definitely ICO and bounty hunter will earn so much. But I have a hope to see a rocking market in future for sure. |
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Most peoples right now using bitcoin as investment. Its happen because many government still prohibit and ban bitcoin if used for payment. Because of that reason, many peoples and investment firm using bitcoin as an investment
Other than government bans, I think that people use bitcoin as an investment because of the lack of adoption. For now, there’s not much areas where you can use bitcoin. There are even some countries where bitcoin is not accepted as a payment system so I don’t see the point of using it as a medium. Also, fees are high so it’s not that favorable to use btc. It’s much more profitable to have bitcoin as an investment instead. It’s possible that btc as a medium will be more possible in the future. Great, this is an important information for us. There are a few areas where we can use cryptocurrency right now. But this is also a bad habit to use BTC as an investment tool instead of currency. Look at this current price, BTC lost 70% already because of this so many people lost everything they have. It is just a killing machine. |
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Hey Buddy,
Tax law vary from country to country. So it's all about local laws. I never pay taxes on bitcoin.
If you using bitcoin for online purpose such as online shopping then you never have to pay any single taxes.
Thanks for the info. It is really sad to see bad effect on cryptocurrency market. Tax definitely a good for Any state but this is not the time to impose tax on BTC or any other cryptocurrency. |
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Now investors using bitcoin as a investment opportunity and they want to make profit, peoples don't think about it as a medium which we can spend for our daily requirements, investors only need profit and don't care anything else because investors wanna be a rich person if peoples want then they can spend and accept this currency in markets as like fiat currency and this will be a biggest change in crypto market.
This is the reality. We never understand what is best for us. Look at the dynamite, it was invented to destroy rock hills but now it is using to kill people. BTC was supposed to use currency but it is using as an investment tool. |
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Lol, let's define monopoly first: What is a 'Monopolistic Market'?
A monopolistic market is a theoretical construct in which only one company may offer products and services to the public. This is the opposite of a perfectly competitive market, in which an infinite number of firms operate. In a purely monopolistic model, the monopoly firm can restrict output, raise prices and enjoy super-normal profits in the long run. It's not even monopoly. The cryptocurrency market is a free one, where everyone is free to choose which coins to use. Bitcoin is the largest because the majority gives it high regard, not because it tries to gobble up its smaller competitors -- something which monopolistic firms actually do. The market has actually been increasingly competitive if we use Bitcoin dominance as a "competitiveness" metric. Either way, you can't stop the best from being the most successful. As we know other cryptocurrencies are copying the technology from BTC. So, BTC has the technology advantage that makes it great. So far, I find everybody just trying to copy the technology and strategy from BTC. I have seen you got the correct answer here. Thanks though for bringing that up. To clear minds of others that are being hooked with other coins thinking it is the future. They are all copies specially BCH which almost made to make a confusion to those newbies who wants to buy bitcoin and yet they ended up in a different one. Bad thing is there is no law yet to imprison this people who made it that way. And still they say that is the real bitcoin. BS is piled up in this forum so better go deep in reading. Thanks man, it really hard to see people are taking it negatively. Your support makes me feel happy. |
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Calling bitcoin a monopoly is no just right. It is not a business. It doesn't provide us with any items or services. It's a digital money how can it monopolize the crypto world.
Yea, it was supposed to be a currency but it is a investment tool at the end. We can manipulate it because there is a fixed supply and demand is too high. |
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I think you've got an misconception about monopoly and high popularity. Apart from Bitcoin, cryptomarket has a number of digital currencies, which is completely different from monopoly which refers to a sector or industry dominated by one corporation, firm or entity.
That Bitcoin dominates the coin market is obvious but it's still been riddled with problems. If in the future a new cryptocurrency is created, addressing Bitcoin current shortcomings, I think Bitcoin will have real competitor.
Yes, you are right. BTC is not doing monopoly business for sure but it is doing monopolistic competition. Monopolistic competition means there will be a little competition with open market and there will have lots of buyers and sellers. And BTC doing exactly like this. We have the chance to choose but we will go to BTC at the end. |
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I agree with you that btc is still in control of other currencies, it is difficult to have a currency that can replace it.
It is not easy to surpass the BTC with this conventional cryptocurrency. It has to be a great idea and extremely advanced technology. I like to see competition among all the cryptocurrency so that we will have chances to choose over BTC. |
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This is impossible. BTC is the future currency and now is the future. I know you are confused and frustrated due to recent decline but this will end soon. BTC as well as other cryptocurrency will turn back and move forward.
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