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785
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Other / Beginners & Help / Re: I’M CONFUSED
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on: October 03, 2017, 02:26:07 PM
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Public key = receiving address
It is considered a best practice to use a new public key each time you transact. But you could use one address again and again.
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786
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Bitcoin / Legal / Re: do i have to pay tax on bitcoins ?
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on: October 03, 2017, 02:19:45 PM
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If the government will recognize it as legal then they will impost tax on bitcoin and every one will then pay tax
It is not that complicated. In the U.S. you owe tax on any money you make. Legal, illegal, any money at all. If you found the only know unicorn tooth and sold it, then you owe tax. Some states even have formal taxes for illegal stuff.  |
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787
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Economy / Service Discussion / Re: How to know the people behind the investment scheme that the real intention was
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on: October 03, 2017, 02:08:42 PM
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There is no way to scam you with bitcoin unless you cooperate. You must help the scammer.
Satoshi created "trust-less money". You don't need to know the counter-party and can trade with them even if they are untrustworthy.
Remember, YOU ARE THE HEAD of SECURITY. Trade ONLY at registered legal businesses in your country. ALWAYS use escrow when buying from or selling to anything but a licensed business. Don't "invest" in anything unless they provide a business licenses and s business plan to your LAWYER. If you don't have a lawyer then you are not ready for this.
If you are talking about alt-coins and ICO's, well... those are almost always scams. Don't trade alts until you absolutely understand bitcoin. At which point you wont want alts.
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789
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Other / Beginners & Help / Re: Is coinbase safe? and this app this app claim free bitcoin?
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on: September 29, 2017, 01:53:16 PM
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I have not used their app, but Coinbase is a legal business and that means if there is a problem you have legal support. I think of them as one of the most trusted exchanges. However, the only truly trustworthy system is to run a node with your own wallet. That is my opinion.
It also may depend on scale. If you have $100 and want to spend it from your phone then an app is great. If you are managing $100K you would be foolish to just leave it at a website for storage. That is also my opinion.
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790
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Bitcoin / Bitcoin Discussion / Re: why do governments don't make BTC illegal worldwide ?
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on: September 29, 2017, 01:45:40 PM
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On what legal grounds?
Maybe in a totalitarian communist regime bitcoin can be made illegal, but in the free world a legal case would need to be made. I have never heard one, have you?
You don't need to live in a totalitarian and communist regime to experience banning of something. In EU for example, laws have been voted to ban glyphosate (Monsanto Roundup) use for example. In some countries of the free world some gov's plan to make the use of a bicycle with helmet illegal so why not BTC ? If a government judges it as a tool for money laundering they can decide to vote a law to make its use illegal. Your examples all have sound reasoning and legal justification. Round-up should be banned. It is unproven technology that could have devastating effects on the future of all plants. A bicycle helmet is required to ride the bike paths and roads where I live. Why? Because the government owns the roads and as such they can make rules to keep the roads safe. As for money laundering, that is already against the law and the gov can do whatever it needs to to stop money laundering, but not just ban bitcoin because it COULD be used that way. Just as the gov can't ban baseball bats because they could be used to beat children. Maybe not all of them, but legitimate governments need a reason to ban something. If people are using it for unfair it is not the fault of bitcoin it totally depends on the user and governments can make checks on the transaction and investments rather than to ban such a profitable business and ban is not the solution to the problem the true investor will suffer this decision and bitcoin never wants to let down its investors. I completely agree. That is why this sort of ban is only likely in countries without civil/financial rights. |
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792
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Economy / Speculation / Re: BTC new Era or Just bubble?
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on: September 29, 2017, 01:27:46 PM
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I could look at virtually any FAANG stock chart and call it a massive, decade long bubble.
Yep. It even goes beyond that. For example we are in a 5 thousand year gold bubble. Gold is just a shinny rock driven by speculation, one day it will be valueless again. |
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793
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Bitcoin / Bitcoin Discussion / Re: Bitcoin and september 30th
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on: September 27, 2017, 07:16:38 PM
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I don't even read that BS. I just ask myself "is bitcoin the fastest, cheapest, and most secure way to send a million dollars?" As long as that is true then I think it will be worth much more tomorrow.
Why the hell would I care what the Chinese government is doing, lol?
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795
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Economy / Economics / Re: Money above all things, Yes or no ?
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on: September 27, 2017, 07:10:04 PM
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Money is nothing to me compared with friends, family, integrity, health, joy, travel, learning... It's actually not much to me at all. Not that I'm against it, but they are just like video game points to me.
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796
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Bitcoin / Bitcoin Discussion / Re: Government regulation of bitcoin
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on: September 27, 2017, 04:22:52 PM
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It is important to remember that, despite what people say, there has never been a time when bitcoin was untaxed. This makes your argument about using fiat confusing because you will still have to pay tax. Tax and bitcoin are two different topics because whether you use dollars, euros, or carrots, you always owe tax on your gain.
Not all countries have a capital gain tax. Example: the Netherlands, my country of residence, doesn't have it. We have many other (high) taxes, just not this one. There was a time when there was no specific rules rules about bitcoin taxes and bitcoin was under the radar, so hide it and even use it as a way to transfer bitcoin oversea was too easy.
Good time, but looks like regulations bring confidence and higher prices
Those are both good points. I was thinking of the U.S., but liability in any country could range from owing no tax to being barred from even using bitcoin. And it may still be true that no government has the ability to cost effectively pursue crypto users at any scale. I am happy to pay cap gains because it is a minimal tax normally reserved for the rich. Consider that the money you work your ass of to get through labor is taxed at twice the rate of cap gains. |
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797
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Bitcoin / Bitcoin Discussion / Re: Government regulation of bitcoin
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on: September 27, 2017, 03:26:02 PM
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Once the governament accept bitcoins means we will have only problems and that will benefit for governament. becasue they will start to collect tax on every bitcoin payment. The bitcoin is famous for N number of amount transaction for no tax. if we want to pay tax means then who will use this bitcoin everyone will use fiat money.
It is important to remember that, despite what people say, there has never been a time when bitcoin was untaxed. This makes your argument about using fiat confusing because you will still have to pay tax. Tax and bitcoin are two different topics because whether you use dollars, euros, or carrots, you always owe tax on your gain. |
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798
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Economy / Economics / Re: Can we totally eliminate all the banks in this world?
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on: September 27, 2017, 02:21:28 PM
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Bitcoin is like a dot on the banking system, just imagine the money circulating in the conventional banking system. If they see a threat, they will kill bitcoin anyways.
Who will? How? I have seen posts like this since 2010 and have yet to see an answer. |
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