Disagree with this from a practical perspective. You can already pay with an alternative asset / bartering if you come to an agreement with the person you're paying. If the person doesn't with to be paid in Bitcoin I think it's more than fair if they don't. Also from the tax perspective, it's absurd, do you expect them to allow for the payment of taxes in shares and property which they then have to dispose of? Not to mention that one of the economic advantages of tax is to be able to drive up demand for your currency. There is little benefit for individual nations to drive up demand for Bitcoin.

I am against a tax on Bitcoins per se - given the principle that Bitcoin was meant to be a currency not an investment asset. I would consider one requirement of this that Bitcoin have fairly stable pricing over the short term (which obviously it does not). As such, given that it is primarily viewed and used as a speculative investment asset, it is appropriate for it to be taxed similarly to other capital gains. As to the particulars, whether it's specifically 30%, the fairness of that IMO is dependent how the tax dollars are spent where you live.

I quote this Reddit post: https://www.reddit.com/r/Bitcoin/comments/7l9tda/day_2_i_will_repost_this_guide_daily_until/


Basically, it counts as a SegWit transaction if the sending address is a SegWit address (either P2SH-P2WPKH or bech32).

It's a lousy $500 - I wouldn't even bother exchanging it given the current fees unless you are particularly in need of funds. There's really nothing wrong with just holding onto it - if you're going to put the effort into researching and exchanging for alts for profit you might as well put in more than that.

If it was something largely relevant like 3 BTC then I could see a case for taking it out and spending/investing on whatever.

I would be interested in joining this campaign. I'd be happy to change over my avatar and signature once I've been confirmed.

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This forum in general inspires very little confidence regarding the financial capabilities of people.


Your comment has a few problems:

1) It's nigh on impossible for people to perfectly time entering and exiting the market at recent historical high/lows - if you could do this with such great accuracy on Bitcoin you would probably do better day-trading shares.

2) No non-speculative (i.e. irrationally risky) investment offers a 10x return over 2 years. At least not to the general public - there might be exceptions if you had particular knowledge in the finance industry, and had a very large investment pool to play with.

I'm pretty sure I can trump nearly everyone in this thread. When I started out BTC was sub-$1, and there used to be faucet's that gave out around 0.05 BTC once a day or so (which would be close to ~750 USD now). I didn't purchase a lot and spent a lot of it as well (which I chalk up to supporting the ideals of Bitcoin as a currency) - but I'm fairly happy with my holdings.

I would be interested in joining this campaign - if you deem my post quality acceptable of course.

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Post Count: 1963 (including this one)
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Rarity plays a value in things that are hard to divide as well as the perception of value itself (humans will tend to overvalue things that are 'rarer'). But yes, for all intents and purposes Bitcoin doesn't suffer from this issue due to the ease by which it can be divided. If you were to use an analogy Bitcoin would be like oil (easily dividable) whereas a rare commodity would be like a rare painting - indivisible without losing value.

Not everyone who uses Bitcoin actively posts on Bitcointalk. Also IMO it is sometimes wise not to speak up about significant financial windfall - previous lottery winners have shown that other people knowing about serious financial windfall can lead to behavioral changes and life/relationship problems.

But what would be the reason for fiat currencies to fall down enough that Bitcoin is adopted? I can't think of a single reason why across the world fiat currencies would all fail. Some might fail due to internal country economic policy failure and economic downturn but it would have to something insanely radical to affect the whole world. A more likely idea is that Bitcoin and fiat co-exist for a prolonged period until Bitcoin is recognised to be a superior alternative and further infrastructure is built.

I don't think you understand - the dollar value or any artificial value is meaningless - all that matters is what can be purchased with it (i.e. real purchasing power). Compare USD and Yen - Yen is roughly a factor of 100 times larger in terms of unitary size, but any meaningful conversion realises that this difference is irrelevant. Given that we can have smaller units than a satoshi if needs be - it matters not what the supply limit is.

Of course all of them want to try - if one of them takes off and gains significant market share they'll make a killing on profits (and save on transactions costs as they won't have to interact as much with other processors - internal transactions are usually cheaper). It'd be a no brainer for any big tech company not to invest in a payment processor of their own. As to whether it'll succeed - that is a different story.

I agree with you here.

IMO greed is an inherent human flaw - it doesn't matter whether it's gold in this case or money or assets - humans naturally have a want for more and more "stuff" and will work and fight for it appropriately. Saying that gold is the cause of greed (and that greed is the root of all evil - which I'd argue is not the case) is wrong.

That's still a considerable sum - at today's market rates it's about 1.8 million USD. Exchanges have always bothered me - unlike traditional financial institutions they have more incentive to scam (usually because control over assets is exerted by one or few people) and that there is no legal recourse should they scam. Not to mention, it's not worth the effort to try and recover a few thousand dollars.

Because amongst the mainstream public there isn't enough usage or interest to maintain more than a handful of ATMs. The ATMs have associated operating costs (maintenance, rental space, initial capital) and these have to be recouped before anyone would consider producing more. I don't think we'll see an significant increase in ATMs until Bitcoin is adopted by a significantly larger proportion of society than it is now.

I dunno, I always found it rather nerve racking when you're trying to close a big bet or a parley (which on a side note is actually more inefficient than straight bets) and it's so tight it comes down to the final couple of minutes. Honestly, I can't handle the pressure - so I rarely watch the actual matches unless I'm interested in them anymore.

The only issue I have with faucets is that the dust produced really only contributes to increased tx sizes and increased tx costs, you hardly earn anything remotely usable so it's really rather useless from a financial perspective. That being said, it's a good way of introducing people to Bitcoin so they understand the basic premises of Bitcoin movement between parties. Personally though, I'd like to think that Bitcoin advances to a point where faucets are no longer necessary - much like how you don't give people money because they don't understand how it works.

It's not just them lacking knowledge - it's the fact that at the moment Bitcoin is inherently more difficult to use in real world scenarios than fiat - so while Bitcoin may have benefits those benefits presently do not tip the scales enough. This is especially true in less developed countries and basically all other countries aside from the US where there is less infrastructure in place to support Bitcoin payments.

I personally prefer Electrum for my personal usage - simply because I can't keep the whole blockchain (data constraints) and it has served me well over the past few years. I've never used Mycelium - but if you were able to have the blockchain I'd recommend Core or Armory as they are incredibly stable.