Maybe because their share in cryptocurrency is just 10 - 15 %... IF you remove them, that percentage can easily be patched-up. So come to think of it. Every moment, more and more countries are adopting the cryptocurrency because it is the trend nowadays... It is just like social media... When social media was introduced, mixed emotions were felt, some were excited, some were afraid because of the "PRIVACY" thing. Now that many people/countries are accepting or using it... CHINA will eventually succumb to the trend. I bet not for long, they will start to use this currency again....
But it is not as simple, governments love social media since people expose their complete lives there and governments can keep track of their citizens that way, bitcoin is the complete opposite of social media, bitcoin allows someone to hide their income in plain sight without the possibility of freezing or confiscating that money and that is going to drive governments crazy and some may even ban bitcoin because of it. Hmm... Bro, this your line of thought got me thinking -" bitcoin allows someone to hide their income in plain sight without the possibility of freezing or confiscating that money and that is going to drive governments crazy and some may even ban bitcoin because of it." This is exactly true. When government realizes that some crooks in illegal business or politicians starch money in bitcoin, they might go after them, thus leading to a debacle in bitcoin. This could lead the government to start looking for means to stop the looting and this could affect bitcoin. You could be "hearing "a death penalty for operating a bitcoin / icos account . But this is the issue they may go after them but they are not going to get a cent out of it, and if the penalties get that heavy people will just move out to other countries where there are no penalties or the penalties are less severe, besides there is always going to be some incentive for people to use bitcoin, look at countries where the taxes are very low, other countries wants them to raise their taxes but if they do it their financial sector will be ruined, so they keep their taxes at zero or very low and something similar is going to happen to bitcoin, even if bitcoin gets banned all over the world, some other countries are going to accept bitcoin and make a fortune that way. |
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it is possible but not advisable specially if you don't have other source of income aside from your job. It's true you can earn so much maybe greater compared to regular salary so if you deemed it to be worth the risk then there will be no problem.
Earning enough bitcoin to fulfill your daily needs it is possible but people are forgetting that most formal jobs have lots of benefits, for once if you receive a check from a company all your taxes are paid already, while this is not the case with bitcoin, second the fact that you know exactly how much you are going to earn beforehand, while this is impossible to know with bitcoin. |
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Do we still need to pay income tax if we earn through trading/investing in Bitcoin or Altcoins??  You have to pay income taxes for making profit by investing in bitcoin/altcoins because that is an income. It can also depend on your country laws because laws are different in every country. In most of the countries you have to pay a tax for that but I know for sure that in some of them you dont have to pay. It also depends on how much you earn through trading. Check closely your laws You have a point.But in my country wherein bitcoin is not yet recognized by the government,we are not paying taxes.And besides just like in my case,i'm already paying taxes through my salary from my regular job.So this time,no tax anymore.And i'm really glad about it because i'm free to earn bitcoins without limit.That's making me more attached to bitcoin too. Just be careful, in many countries bitcoin is not recognized as a currency but as an asset, like a stock and any gains that you made from buying and selling are considered to be capital gains, and you need to pay a tax in the gains you got, for example if you bought at 3000 and sell at 4000 you got a profits of 1000 and you need to pay tax on that 1000, in most countries the tax is small. |
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Question is little bit ambiguous. Still what I understand is about ETH, if it so then it is not that best option than bitcoin but still they are somehow better than all other coins. I read it somewhere that ETH are at second place after bitcoins.
Still, better is to convert to bitcoins rather than simply holding eth as compared to bitcoins, I am sure eth may not have bright futures.
If he does that he is going to lose a lot of money, Ethereum is nowhere near as high as it once was and bitcoin is stronger than ever, so there is only two options to sell for a loss which is what you are recommending or to keep holding, if I were him I will keep holding, ETH is going to see better days and eventually when it reaches the price at what he bought then he can decide if he keeps holding or if he wants to get out of Ethereum immediately. |
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what can you advise for newbie in cryptocurrency business for start?
$50? Well, I will just repeat the obvious and reiterate that you most absolutely cannot start any kind of business with $50. I don't even think you could setup a lemonade stand with that amount of money. If it were me, and I was only willing to invest $50. I would use the "go big or go home" method. I mean seriously -- I spend $50 on stupid shit pretty much every other day. Buy something that is super cheap now that has great potential to grow by 100% or more. Sure you could invest in ETH or BTC or LTC and absolutely make "some" money off of it in the near future. But if you invest in a younger project that takes off, you could turn that $50 into $500 within 6 months if you choose the right project. If you don't choose the right project, well then you're out $50. Which isn't a bad thing -- I spend $50 to go to the movies all the time and sometimes the movie sucks. That would be your result if you pick the wrong coin -- it will suck; but at least you got some experience.  That being said, FLO is super cheap right now -- and with the Alexandria.io project right around the corner, you could most certainly double or triple that $50 by the end of the year with it. And if not, well then just pretend if was all a crappy movie.  Good luck. Cannot get any clearer, with such a low amount of money the only thing that you can try is to go for long shots, investing in safe coins is going to give a minuscule amount of profits so someone investing that amount of money will have to roll the dice and wait for the best, that is not so bad, if you are able to predict the right coin it could be possible to get enough money to begin to make more serious investments. |
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can they hack into our wallet. There are many professional hackers out there. What are the chances? Also what is the safest way to safeguard ourself?
That is one of the perks of bitcoin "security" only you can hold your private key. Put a 2fa on your accounts linked to access your wallet. Don't eorry about bruteforce it would take millions of years for them to grt just a single private key. You're right! 2fa will prevent your bitcoin from being stolen if you reuse your password somewhere else or in certain phishing scenarios. It is very useful for online services because it has limited uses for software wallet. Anyway, just secure all your information in your wallet and avoid clicking a websites which you think is a phishing sites. Reusing your password is the first mistake, you should never use the same password, if you use different passwords then you are going to limit the damage that a hacker can do to you, if you use the same password then the hackers can steal money from many different accounts and in that case the advantages of having your money in different wallets evaporate, remember to always think of keeping your coins as secure as possible because with bitcoin you only get one chance, if your coins are stolen then it is game over. |
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Due to the forbidden of bitcoin transactions in China, what do you think about the future of bitcoin? Will it be banned?
If China wants to get out of this revolution instead of being the leader as it currently is then they can do it, bitcoin does not force anyone to use it, but if they do that, they are going to lose the opportunity they have been waiting of debunking the US dollar from being the top currency of the world, it seems the Chinese government has decided to keep their power on their country over having a larger base of power on the whole world. |
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Since it is only gambling to chose the next x1000 coin and even to predict the next x100 coin is very hard to impossible, let's be a bit more realistic and pick the most promising coins that will at least x10(or more ) in 2018. I mean such an investment will go from $100 to $1000 and is still a very good investment. And it should not be impossible to predict with a good fundamental analysis. My favorites for 2018 that should at least x10 are: 1. Ardor, because it is the successor of the NXT token and has the same team behind it but offers much more functions. With its main chain, it offers the option to create new coins with an own sub chain under Ardor and the Ardor holders will profit from it. Ardor will start soon and hopefully be even more successful than NXT. 2. Verge: It is a stealth coin like Monero but still very undervalued (low market cap).The developers are active and the community is very positive about this project. Some more exchanges started to trade Verge recently. 3. Electroneum: This is a bit risky because it's still an ICO but looks very promising. They develop mobile apps and you can mine this coin via the mobile app. Which coins do you think will at least x10 in 2018 and should be a good and profitable investment for us? Dimcoin is another project that I will keep my sights on, the project seems solid from what I read on the white paper, and among your choices the one I like the most is Ardor that is another coin that is going to do well in the next year since it is way below its all time high and I see an upward trend happening in the next few months, so this seems like a good opportunity to get it cheap and get your profits later in the year. |
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$4600 bitcoin for your 1st buy is not really good. When the price dump until $3500 maybe would be better for you to buy. I think you are too excited to have bitcoin in that day. Today bitcoin is lower than $4600 which is really not good for you. Try to wait until end of the year.
Even if you do not consider yourself a trader buying bitcoin with the intention of selling it later is the act of a trader and as such we must make an effort to learn the very basics of trading before our purchases, because something like what we are seeing may happen, you buy near the top of the bubble and now you are going to be in the red for a long time. |
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Some people expecting to me that I'm now millionaire because of bitcoin. They don't know that I'm just a newbie.
Then you need to clarify them their misconceptions about bitcoin, not many people are going to become rich with bitcoin and for the early adopters that is a process that took years and they took a small risk when bitcoin started, now while bitcoin is a lot more solid than back then if you want to become a millionaire then you need to invest a significant amount of money from the beginning, if you do not then at best you are going to get some nice profits. |
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No, because Bitcoin and cryptos are the money of internet, which will stay for a long time.
But are you sure Bitcoin and cryptos will be there forever? I have a bit of a high doubt! Well, nothing is going to last forever that much we know, however I could understand if you have doubts that bitcoin is going to be with us for a long time, maybe you believe in another coin that already exists or you think that a new coin will emerge and beat bitcoin, however I do not see why you doubt cryptocurrencies as a whole, the market is going to flourish as long as fiat is controlled by banks, so the reason for crypto to exists is still going to be there. |
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Many people are now curious to know what bitcoin is, whereas once bitcoin was just underestimated, now upside down many people stop working instead they prefer to focus on bitcoin
Is this the impact of rising bitcoin prices?
I think its the impact of people being more aware and more people giving testimonials that bitcoin works for them rather than the prices actually. People would believe anything if it happened to their friend or an acquaintance but a seemingly far off proift story is a crazy story. Some people are like that, you may show them statistics and definitive proof that something is real, but if they have no experience with it, then for them, that is enough to say something is false, but if a friend shows them proof of something they did then they immediately believe it, this can be very frustrating because it is almost impossible to prove something if their friends or themselves already have a formed opinion about a subject. |
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This is no different than using TOR, if you you TOR then you can bet you are on a watch list somewhere in the world, that is just the way it is until the day comes where everyone uses anonymity technology then you will open yourself to further scrutiny by simply using services like those, so anyone that uses one of the anonymity coins like Dash and Monero is probably in a watch list as well. |
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What makes this exchange "the future of exchanges". I dont see anything different in there.
the OP created that, not Binance. But they plan to go decentralised. If that is true then they are going to have to have to compete with some other decentralized exchanges that have already open shop and that are going to be their direct competition, besides if we have to go through all the same stuff that we we have to go through with centralized exchanges and accept KYC and other policies like that, then their plans to become a decentralized exchange are going to fail. |
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I plan on holding almost everything until BTC is a decently major accepted currency. I can buy a lot of things with it already. To me I do not care about the daily swings between $4,000 and $4,600, I am in for the $10,000 -> $50,000 mark.
This is money I do not really need and treat it as investments and intend to keep on growing it.. technically this is my exit strategy from USD!
Hate to say it, but I don't think BTC will ever reach the acceptance you seek. Some other coin maybe. BTC has too high fees and is too slow. POS would be better for this. Verge maybe?Stellar?Ripple? This is precisely why the devs have been pushing an end to the scaling debate and were convinced that their solution to the scaling issue is the best, we still have not seen the end of it but once the lightning network activates we are going to see the fees to go down and bitcoin will be able to manage millions of transactions, once bitcoin can do that it is game over and no other crypto will be able to replace bitcoin. |
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Do we still need to pay income tax if we earn through trading/investing in Bitcoin or Altcoins?? If you want to sleep tight at night then you better do it, since it is very obvious that as time passes and the economic situation all around the world gets worse that governments are going to get even more confiscatory in their policies, so pay now and avoid the repercussions that it may fall on you if you are caught red handed avoiding taxes with cryptocurrencies. |
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This is possible the only thing is you need money or bitcoin to trade. If you are a skilled trader you can make thousand of dollars a day. If not then try to save as much as you can so your money can earn money. Try to build your passive income.
The amount of people that have the skills and the money to make that kind of money daily are very low, most of the time you are going to lack one or even the two factors and if that is the case then trading is going to become a monumental waste of time or money or both, keep your job and do not take risks, buy bitcoin when you can and hold it, I know it is not as exciting as trading but for most people that is more effective. |
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China's influence might be fading, but it seems like they triggered a reaction all over the world, as some smaller governments also throw their voices against Bitcoin and banksters recently also joined the hate train - first Jamie Dimon, the CEO of JP Morgan and now other banks, finance firms and economists. It's not a coincidence that it started happening after Bitcoin reached all time high of $5,000 - some people realized that the threat of decentralized currency is real and they try to suppress it while they can.
What they do not realize is that by doing that we are going to probably see one of the biggest known cases of the Streisand effect, in which the more they try to ban something the more people are going to be aware of it and will begin to look into it, some old friends told me something similar happened with heavy metal music back in the day, when they put a Parent Advisory stickers to warn listeners about the content of the music, my friend told me that if they saw that a record had that seal they bought it immediately since they knew it was a good record, so in a way the seal that tried to warn people became a seal of approval. |
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It's currently $286 on coinmarketcap. I need to buy some ETH to participate in an ICO soon. Is now a good time to buy or do you think it will go down more in the next few days?
If you are going to buy Ethereum to use it immediately, what it is the difference if you buy for a slightly higher price? Taking into account that most icos give a time limit to invest in their ico to obtain benefits, you are probably way better by buying now and get a bigger bonus, than you will be if you wait for the perfect time to buy Ethereum and then you buy into the ico but receive a lesser bonus. |
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Buying from the $ 4600 level has been a wrong start, and there are a lot of things you need to do right now, or you can bet, or you can save some of the money you've invested to make money.
I don't think this to be an wrong decision to buy bitcoin when the price was $4600. You should have known much about the market before investing, if your plan is for long term never get worried. If you thought of making profit in a lesser time, then no other go than just waiting with patience for a price pumping. The problem is that you are asking a lot of patience from him and while a member of the forum that has seen and experimented situation like that before could do it, you must not forget that he is a newbie, the price of bitcoin has not been that high for some time and I do not think we are going to see that price in a long time, so it is very likely that he gets desperate and sells for a loss. |
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