Bitcoin once converted to cash should be declared for tax purposes. If you already have enough cash at hand, then it would probably be in your best interests to buy with cash. I know certain countries do not charge tax when cashing out bitcoins, so may be in your best interest to cash out there instead. I also know that in other countries holding bitcoin is known as speculative gambling, so if you've held it for over a year it is also tax free.

The scalability of any network will always depend on the cooperation of the numerous institutions using that network, in the case of bitcoin, it will be the exchanges, stores, organizations and customers working together to adhere to a strict set of principles, such as the lightning network. If there is outside interference, e.g. from competing currencies, government bans etc, then these may act to completely block bitcoin scaling. But, in my opinion, a world-wide ban is highly unlikely, so we'll start seeing progress with scaling once LN is out of the test net.

I would certainly be interested in other asset secured coins, similar to USDT, but perhaps a coin where the underlying asset is set to appreciate in value.

Gold, silver and platinum are good bets, as are other resources such as crude oil, natural gas, or even property.

Come to think of it, I think a crypto-coin secured against property could be highly successful, perhaps even paying dividends (tokens) on rental income or property development gains.

Most people at some point in their life have an original, or even brilliant idea. Very few of these people bring together the skill sets required to make the idea a reality, and even fewer of them see their project through to success. The idea is the least important part of the puzzle in many cases, having the drive, skills and team to bring it to life is much more important.

I'd say, if you think you can do better, go for it. If they already have the market completely dominated, probably move on to another idea as there are still plenty of ideas you could develop, even if the other idea was to be your magnum opus.

The reason bitcoin is dropping is obvious, and I believe most of the reasons listed in OP are either trolling, or joking.

Firstly South Korea proposed new bans for Cryptocurrency exchanges, obviously this is bad news, but probably not worth the 25% drop. Secondly there are negative reports regarding the unreasonable transaction fees for small payments. Still, Bitcoin remains up over 1000% since Q1 2017, so is still in a very strong position.

When the price is higher or below the moving average for longer than you're comfortable with, that's when you sell. That being said there are various strategies that can be used, e.g. Buy at statistically significant troughs, and sell at the peaks, buy when trade volume multiples in a particular direction by a certain percentage etc. Best thing to do is enable bollinger bands, look at the trends and try to identify where the market is going, this works best in the short term.

Most businesses are unwilling to provide services that are outside of their normal operations, as they do not want to accept responsibility for any mishaps that occur, and are often not covered for such circumstances under their insurance or business policy.

@OP, you can try this page: https://support.coinbase.com/customer/en/portal/articles/2346122-coinbase-error-resolution-process

Unfortunately however, I highly doubt they're going to cooperate for the retrieval of $500.

Oh looks, it's another one of these threads complaining about the fees. You do realize the high fees are a temporary roadblock, one which is being worked on from multiple angles. Obviously nobody wants to pay $10 in fees for a $5 Coffee, but the lightning network promises to massively reduce that, by only charging you a defined channel fee. Of course, the volatility of BTC will also need to be reduced to be an effective currency, but this can be circumvented by having some sort of rakeback system implemented.

Looks like the decision is uncertain for now, the move will need to win the majority vote of the 297 board members.

The article states that this may take months or years to finalize, so looking at this near-term, it is unlikely to make much of a dent on the current valuation of BTC. As we speak, butcoin is already rallying back to $14,000.

Logically, most of the board members will have some holdings in BTC, thus it is not in their personal best interests to ban it. I think we'll see that the majority of the board will vote to deny the ban.

Currently, one of the best ways to earn BTC is to trade into it from altcoins, using an exchange such as cryptopia, bittrex or poloniex.

You can often get free tokens from bounty threads, participating in campaigns, or providing small services over at the marketplace.

You can then trade these for bitcoin, and keep trading in and out as the market fluctuates to grow your investment.

Right now, fluctuations in cryptocurrency value is determined mostly by investor sentiment, not due to changes in the practicality of the coin as a payment method. Because news is now linking BTC with a correction, and ETH with a spike, there is investor efflux from BTC -> ETH. Soon enough there will be a reversal and the process will repeat.

For now, no crypto can compete with VISA, once a crypto starts becoming a real competitor, then its volatility will be affected by real world use cases.

Blockchain is the transaction system first utilized by the bitcoin cryptocurrency.

Here's a website that serves as a cool little project, where you learn how blockchain works by building a simple one of your own.

Build your own blockchain

The information you learn from this will prove invaluable when looking at the technologies behind other coins in future, and will give a basic background in the technology behind coins like BTC.

Honestly, I think bitcoin could be a method to equalize third world economies with those of first world countries. Government corruption, unequal distribution of wealth and civil unrest make earning a good living difficult in many economically disparaged countries. However, these countries also tend to lack proper access to the internet, and also tend to have unreliable power grids, meaning though bitcoin could potentially take the control of the economy out of the governments hands, it would take government intervention to improve the power and internet networks to properly utilize it, this is something unlikely to happen soon, if ever.

To start off I'd actually recommend investing in some altcoins, such as NEO, Monero, IOTA, and Verge. You'll see a much larger return on investment using altcoins, whereas BTC price has approximately peaked until there are some upgrades to the network.

You can register for an account on an exchange such as cryptopia, bittrex, or bitfenix once registrations reopen, however prior to this you'll need to get some bitcoin to trade against, you can buy bitcoin for fiat currency using www.localbitcoins.com

Bitcoin is the most popular cryptocurrency because it had the "first mover" advantage, usually the first player in the game rides supreme until somebody else knocks them off the throne. Bitcoin garnered the widest recognition and highest user base because of this advantage, it's not about superior technology anymore. Once the lightning network is implemented, Bitcoin will again reign supreme in terms of scaling and potential, so long as other coins don't manage to 1-up it.

Being realistic, 30-40 posts per week for the amount you get paid for a signature campaign is not over demanding.

It doesn't take a lot of research to add quality to the forum, simply helping out newbies, offering technical advise and directing people to transaction accelerators answers 90% of posts here. Also, many campaign managers will give you a fractional reward if you don't complete all 40 posts, e.g. 30 posts would get 75% of the reward.

There will always be a link between bitcoin transactions, however with bitcoin mixers being used it would be very difficult to determine exactly which wallets are currently storing stolen fund. Odds are that most small transactions can be traced back to a wallet containing stolen funds, same goes with cash.

Do you understand the definition of a scam? Let me help you with that.

scam
skam/Submit
nouninformal
1. a dishonest scheme; a fraud.

Bitcoin does what it says it will do, create a decentralized payment platform, nobody is gaining from your transaction being stuck, nobody is scamming you.

You chose to use BTC despite it having high fees currently, so why are you complaining?

The first thing I'd do is get to grips with how blockchain technology works, particularly in the context of bitcoin so you can understand how to create and receive payments.

Here's a basic intro: https://hackernoon.com/an-introduction-to-blockchain-technology-261ffb8de

After this, you start looking into platforms where you can trade BTC against other currencies, or sell your products/services for bitcoin.

List of exchanges: https://cryptocoincharts.info/markets/info

Might be a smart idea to have your first wallet on an exchange, be sure to enable 2FA and take note of any security codes for future reference.

Good luck!

To simply things for prospective buyers, including possibly myself, could you please answer the following;

1. Vaguely, what is the nature of the business? e.g. Exchange, casino, online sales etc
2. What skills would be required to maintain business operations and update it in future?
3. You say your net income exceeded $350k, what is the approximate profit margin, and what was the income for the first half of 2017 (if any).

I'll be watching this thread with interest.