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Governments have found a new way. When they aren't able to ban or kill Bitcoin, they are regulating and taxing it. Thus, ensuring a give and take relationship with Bitcoin. Government would be controlling exchanges and thus having a watch over transactions and identity. In one sense it would help in curbing illegal use of Bitcoin(which is what they are claiming) but then it is threat to ultimate feature of Bitcoin i.e. anonymity.
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Last Month, a cryptocurrency investor who couldn’t handle sudden wealth was sent to a mental hospital. His wife says he is possessed by evil and left him. This Tuesday, when a new coin BTM was listed on exchanges, a person posted that he spent all of his assets on BTM and promised to kill the CEO and the rest of them at 8btc if BTM disappointed him. Sick! http://news.8btc.com/an-ico-investor-threatens-to-kill-all-of-us-at-8btcSome people are way too retard! LOL |
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If you are claiming that Government or Central banks are just sitting back and watching Bitcoin grow, then you are wrong. This was the case some 3-4 years back. But now they very well understand what Bitcoin is capable of.
Every country and central bank have their own stand on Bitcoin. Like in Switzerland some banks are incorporating Bitcoin in their system, in China and Russia they are testing their own currency, somewhere Bitcoin is completely ban(not very efficient to ban an internet currency), some are accepting Bitcoin with regulations and enjoying tax benefits. So nobody is ignoring Bitcoin. Every country is so far trying to put their laws on Bitcoin because they know they can't kill it.
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Bitcoin has inbuilt deflation and will reach its ceiling of 21 million by 2140. Thus, if accepted as a national currency it will constraint economic growth. Its high volatility wouldn't attract foreign investment. An entire economy can collapse due to Bitcoin's high volatility. Thus, Bitcoin isn't ideal as a nation currency.
How you come to a conclusion that bitcoin is not a national currency. Many not even accept dollar as a national currency due you know that.I think you are obviously not.If so means you will not talk like this.It's very easy to blame a unknown thing .It's very common to all.You will see soon, bitcoin will replace the dollar. I just didn't get your point. Why would everyone accept dollar as a national currency. Every country has its own. It is simple economics, for a country to run efficiently, there is a need to have a stable currency. Say for example, a vendor accepted Bitcoin for his item. Now after a month, price might go up or down. But he has to calculate capital gain. How will you effectively calculate your loss or gain in the case of volatility. Even in next month the price will vary heavily. The only solution to this problem is to convert your Bitcoin to fiat as soon as you got it. This ultimately kills the purpose of Bitcoin as a national currency. Bitcoin is best suited for investment. Its own reserved cap kills its use as a currency. |
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I know that the IRS has specified that calculating your gains on bitcoin you should use FIFO or LIFO as long as you are consistent.
But can you choose FIFO for bitcoin and then use LIFO for litecoin?
The case use would be that you use FIFO and have fiat on an exchange that you want to move to another exchange but if you buy bitcoins then transfer to another exchange and sell you would be selling coins you bought years ago, not the coins you just bought. Thus requiring double capital gains.
But if you buy litecoins, transfer to another exchange and sell the litecoins using LIFO then you would have zero capital gains on the transfer.
FIFO works excellent with Bitcoin for cutting taxes on capital gain. I haven't tried the one with litecoin till now. But with Bitcoin I always follow first in first out strategy and try to educate others about it too. |
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Bitcoin: $1260/BTC
Gold: $1241/xau
Well, I can not believe that the Bitcoin prices has crossed over gold sooner than I expect. I thought the process would be finished in April. Wow, Bitcoin is truly worth and everyone who has sold their Bitcoin has made a huge mistake. Nothing can stop Bitcoin right now.
Obviously, Bitcoin will defeat gold. It will cross gold prices. Already Bitcoin is going to sky. I mean Bitcoin price is going so high. Within a few days, Bitcoin will cross $5000 USD. It is never about price. Bitcoin being limited to 21 million will obviously reach a huge figure while gold's price is driven by various other factors like dollar and oil relation along with demand. Actually they aren't comparable. Most of the people tend to have diversified investment plan including both gold and Bitcoin. When talking about losses and wins one should take into consideration such virable as "time" - in 20 years from now crypto currencies may be long gone, and gold will buy like 10 times more than today.
I agree Bitcoin's future is still uncertain. There are chances that Bitcoin or other cryptocurrencies will be taken over by some other monetary system while gold still be there. But right now Bitcoin is the hot investment in the market and we should enjoy that. |
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Bitcoin has inbuilt deflation and will reach its ceiling of 21 million by 2140. Thus, if accepted as a national currency it will constraint economic growth. Its high volatility wouldn't attract foreign investment. An entire economy can collapse due to Bitcoin's high volatility. Thus, Bitcoin isn't ideal as a nation currency.
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Predicting the future of decentralised market is obviously not possible. A single negative or positive news has a huge impact on price. There might be some event in future that might effect price negatively and Bitcoin might reach $2500. But as for today I don't see any such event lined up which can take Bitcoin price back to $2500.
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I especially like the last italics block, as it is entirely in line with Satoshi's vision of maximum Bitcoin decentralisation.
This time a government aided company is taking part in Bitcoin mining process. I doubt if Russia wants to center Bitcoin mining and wants to take control over from China. Russia which was against Bitcoin a year ago is now not only showing interest in Bitcoin, but trying their best to have the biggest Bitcoin mining farm. Russia is unpredictable! |
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According to him, one of the observations shows that the huge rises in Bitcoin price often coincide with stronger demand on stocks. For example, the Dow Jones Industrial Average added 1.56% during the recent month, and the Nasdaq rose by 0.37%. This shows the sentiment toward more risky assets. This relation is loosely based. Stocks and Bitcoin hardly have any correlation. Many of the stock investors don't even know about Bitcoin existence. The risk taking attitude depends upon person and not the market. another observation shows that whenever there is a risk of capital control in a country, the demand for cryptocurrencies grows faster than ever. Like in Cyprus in spring 2013, the unprecedented bailout of Cyprus' banks introduced in the country, which reduced the amount of money which bank clients could withdraw from their accounts, resulted in a massive surge in the Bitcoin price. It rose by almost 700%. I completely agree to his one. The need for having the financial stability in the times of financial crisis makes people find some alternatives and Bitcoin fits the best at that. Whenever banks or countries try to excessively control the cash flow, Bitcoin demand increases. |
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Before we can make the "Buy Bitcoin " to appear everywhere, we need to educate people on what bitcoin is and how it can positively impact their lives, I know for a fact that people are normally scared of things that they don't understand. It's by education that we can put their mind at ease.
'Buy Bitcoin' pop up is not basically meant for its literal meaning. An unlikely pop up of something unrelated catches viewer's attention. This makes them curious and hence they will search about it. They are not just gonna buy it, Rather will understand it first. Hence, the purpose is solved. |
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This doesn't make any sense. We all know that because of fixed amount and increasing demand, Bitcoin has inbuilt deflation. Its price will definitely increase with time and might touch 5 figure soon. There is no fun lamenting over that.
Offcourse, 1BTC is unaffordable for most of the community. But does that make any difference? As you have yourself said we can buy in Satoshis. Does that qualifies Bitcoin to be the currency of rich dudes? No.
You buy less you have less profit. Rich people can buy more they will have better profits. So is the case with any other investment. Rich people obviously gonna have edge in money matter. But Bitcoin is not only for them. Here lot many people are enjoying income in Bitcoin and are quite happy whether it is in Satoshis or Bitcoin.
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Unless you are a bulk holder you can't stop Bitcoin from crashing. In a decentralised market, anyone can sell and buy at any price till two parties agree. You can't control other's action. A small bad or good news has a huge impact on the price. There are many who do panic selling. There are lots of factors which drive the price. You certainly can't control all.
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Happy Independence day and happy Janamashtmi to all of the Indians here and thanks for your support Bitcointalk community.  |
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The current ET price is declining, and it is good idea to keep the ETH and hold it until the ETH price goes up again. I think it's good time to buy ETH as long-term investment. And maybe at the end of this year the price of ETH will increase again.
I'm sure that there'll be some points to sell ETH or the pumps for ETH to occur, now is just temporary price decline for alts because the price of bitcoin significantly increasing and it's really a normal thing. When the price of bitcoin comes to stable, I'm pretty sure that all the altcoins especially which use ETH smart contract will soon all green. But the thing is along with waiting for a better price to sell ETH, BTC might reach $5k. Profit wouldn't be that sound with ETH then. I would suggest when ETH is $300+ and Bitcoin fall a bit. Jump to BTC. Bitcoin price is increasing at good rate and chances of a big drop is rare whereas ETH is fluctuating over that $300 mark from quite a long time. Your all loss would be covered with Bitcoin. |
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If you search for Pump and Dump groups on the forum, you will see many. What they do is everyone invests at the same time which automatically increases the demand for that coin which in turn, increases the value. If a normal trader sees this increase then he too will join the tide and as soon as it reaches the top point the group takes out their money. Everyone else who joined will be in a huge mess.
Added to that pumps and dumps are only beneficial to the admin who buys coins before announcing the pump and hence get the most profit out of it. Others just fall for the trap. Pumps and dumps are mere scam but since the crypto market is unregulated and decentralised, therefore such groups aren't going anywhere. I would suggest you to stay away from them. |
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oh. Thank you Pakistani to give this lesson to India.
I note that Indian always copy Pakistan do something Unique Dear Indians.
Both the countries are awesome. There is nothing like copy. But just a way to show love and patrotism for country. |
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Earlier everyone ignored Cryptocurrencies because they weren't really bigger a phenomenon and not backed by any central authority. Nobody saw any future out of it. But now with more than $ 100 billion marketcap, cryptocurrency have an important part in financial landscape that can't be easily ignored. Today, from banks to government everyone understands the potential of cryptocurrencies and many are scared of this Decentralised monetary system. This fear shows that cryptocurrencies have enough potential to effect these central authorities and hence means they are here to stay.
With increase in adoption and trust, it is quite clear that cryptocurrencies are not going anywhere. Soon more people will join the tribe.
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