Why tax when the cost is already there in the form of hardware and electricity?
Because the government wants all the money it can get away with grabbing - and sometimes MORE than it is legally owed. Bitcoin's price is gradualy going up and the income of the people who mine it as well, and obviously in the countries where goverments are actually keeping an eye on the bitcoin know how much poeple make from it without paying taxes, so eventualy they will either make electric cost for the ones who mine bitcoin a bit more, or they make them pay taxes, imagine an unmployeed person who is making like thaousands of dollars without paying any taxes. |
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It is never too late to start buying bitcoin, people might be afraid of buying 1 btc because it is either too expensive or they won't be able to make profit that will get them back the money they spent, but the thing with bitcoin is you have to be paitent in order to make profit, if you buy it now you might not make a huge profit in a week or a month but eventually you will make profit, and also poeple don't know that the ycould buy any amount they want from the peer to peer bitcoin exchanges.
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Well to some extent bitcoin will in a long run reduce the level of unemployment in the society. But for the high significant of bitcoin to be felt, unemployed people need to realise the fact that there is need for them to learn skill particularly the once related to bitcoin or blockchain technology so that they will benefit from bitcoin.
It is true that bitcoin could reduce unemployemnt, i of all people could tell you that, because as soon as i finished my studies i only found bitcoin as my best way to make money, but just stting at home and trying to get bitcoin is not going to last forever at some point either the bitcoin is going to fall or you will use all of you moeny you earned from it, you need to have a backup plan unemployed people should not totaly rellay on bitcoin. |
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Many people are very interested to this bitcoin because of the high value. They we're search in the internet what is bitcoin and they know about the price of bitcoin, they get interested! Bitcoin has a fastest growing as this year. In the future all of shopping sites will accept bitcoin. If many of us used digital currency, I know many shopping sites will accept this as in demand to their costumer.
With every increase in the bitcoin price the media goes wilde makeing sure that everyone knows about bitcoin and this is works for our advantage because the more popele that use bitcoin the higher the demand, the higher the demand the higher the price gets, and this puts bitcoi nat a position where it it becomes very popular, which investors and bussines owners will come to relize and start adapting it in their bussines model and a payment methd and eventualy bitcoin will become a universal currency that is leagaly accepted every where. |
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It really depends on how you look at it. A disadvantage can also be an advantage.
For example. Bitcoin is unstable in its price to the dollar.
It does however always seem to bounce back and go higher - therefore being a huge advantage.
I think there are two disadvantages of bitcoin first one is that bitcoin is working only if you have internet and secondly bitcoin have no physical shape because people love bitcoin and day by day its users are going to increases so everyone want to see bitcoin and I hope in future bitcoin will arrange its physical shape as considering people demand. Working with only internet is very normal, because this is valid for most of the businesses. This is not a disadvantage, it's a feature of bitcoin. The problem for me is that sending bitcoin to another person sometimes takes 6-7 hours. This is just crazy. It needs to be much faster in the future. It is true that bitcoin only works online and if there is no internet there is no bitcoin, but lets face it, every thing we do in our current lives is connceted to the internet, we shop we work and we communicate with others, even food we get online, and banks also do all their work through internet, so if the internet goes down the whole world will stop, so i don't think that will be seeing that anytime soon. In my opinion probably the biggest disadvantege of bitcoin is you can't reverse your transactions so the smallest mistake on the address and your coins are lost for ever, and also bitcoin is a cryptocurrency which means it is unstable and it is not controlled wich makes invastors and bussines owners not that confidant when it comes to investing their money in it or accepting it as a pyament method, but we haven't seen a drmatic fall of the price in a long time so i think it is on the right track. |
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It is quit insure what will the hard fork that is coming up in november will have an influnece of the price, as developpers strugle to attract miners to start mining bitocin cash to secure its blockchain, it is hard to tell wether there will accept it or not as this was faced with a lot of criticism, but as always after all of the things that happen in the bitcoin comunnity it always manges to pick up and keep going up, and that is no different from this time.
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With bitfinx shutting down its service and coinbase being priced very high which other service do you use?
I use localbitcoins. There, I know I'm dealing with an exchanger, person to person. I too also prefer peer to peer exchange like localbitcoin, because no matter how much you have you can do some trading and with any payment method i want, unlike other trading platforms where you must have a specif amount of money to be able to strat trading and besides they take a lot of exchange fees which means you can't do day trading with them, but the only bad thing about peer to peer is that you can't exchange altcoins to bitcoin where some trading platforms allow that. |
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I think I can earn limited amount of money every month. I want to invest my money in trading.How can I get a good
a good amount profit every month??How I research the market?How to find out the good coin to invest?Thanks in advance ....
i am the person who have done trade and job together not only weekly or monthly everyday i do both. i have to used this and now i am enjoying both together and trading is my 2nd profession right now. Unless you don't have a smartphone with internet access in it, than trading is probably the most conventional thing you could have to make an extra income a side from your current job, you could eaisely get notified of when the prices are changing you can make exchanges directly from your phone, trading does not mean that you have to stay in front of the screen all day and watch the charts for a potential drop or rise which could become really stressful. |
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What is your strategy before the fork in the middle of next month. Do you buy up before the fork, or do you believe that it will fall in the aftermath of the fork, and therefore sell a bit off now?
This is both in relation to BTC and Altcoins
Hard forks are pretty much goldmines when you stock up a big balance and wait for the fork to happen. Shouldn't at all be afraid about price drops after a fork as we've seen two forks go by and Bitcoin has been swift on its way back to the top. So I would suggest only one thing: buy up and HODL and wait for money to roll in! Yeah I think it is already too late to buy bitcoin before the hard fork, the price is way too high and it just keeps on going up, and there is no guaranties that buying now that the hard fork will be profitable, there goes to show you that planning ahead in trading and knowing what will happen in the market beforehand so you would know when to buy and when to sell, you can try for altcoins and then exchanging it but that market is unpredictable and could lead you to a loss if things does not go the way you want. |
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I think both btc and altcoins. btc is suitable for long-term investment and altcoins are suitable for short-term investment and both have a certain risk of investment. Therefore, the investment like that will reduce the risk. But if you do not have enough money, you can invest in one. However, if you invest altcoins you should invest from two types of altcoin or more.
Investing in bitcoin is for sure a profitable thing and a safe one as well, you can just forget about it and still earn profits from it, altcoins on the other hand have a risk involved in it because they are unstable and hard to predict, so if you are thinking about investing and trading cryptocurency than bitcoin is the best option because doesn't fall that easily and you can make profit in no time. |
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BTC was around $300 3 years ago. Wonder how many people can hold BTC for more than 3 years and enjoy the amazing profit in this period  I don´t think there are that many holders of the cheapest coin. There is always a psychological point where people sell and then can re enter with part of the profit off course. Just think of yourself buying lets say monero now for 80 dollars or eth for 300 or any other example... will you be able to hold it to 6k without selling? evrything inside you will advise you to take profit before it goes that high. Indeed, for the people who have been using bitcoin for quit some time, at some time in thier jornney have had an urge to exchange their coins or at least a part of it and get it in cash, or the ones have hold it for a long time probably got it when it was about 300$ but back then they didn't even dream of reaching 6000$ like tody, so probably as soon as it hit 1000$ or maybe less they sold it, and the small percentage of poepel who have held it all this time probably forgot they even had bitcoin. |
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It is never too late to get bitcoin, people are always discouraged to get strated on erning bitcoin eitheir they look at its price and think how the hell are they going to aford it, or they start off earning a small amount that is not worth the time, and the thing is you must be paitent with bitcoin you start off at a small amount and gradually you earn more, and just a tip if you think you can't earn that much from bitcoin you can try mining other altcoins and then exchaniging it.
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I agree with you some are living daily jobs just to focused on signature campaigns.Making it as priority and only source of income instead of alternative source so they could hold it for the future to earn more profit .Some also rely their dreams only through bitcoin.It could be possible but we must also be ready to deal with failures just like the volatility of bitcoin there's also a probality that our dreams will be volatile too when our only source is bitcoin.So it's better to learn and be updated all the time,do our own research and not to trust right away.If there's a decent job then give a good service while working with bitcoin at the same time.It's just like hitting one bird with two stones- reaching your dreams through hardwork and with bitcoin.
It’s hard for most people to understand, and the reason is because they don’t want to learn it. Yes, we should see it as a currency, but some of us cross the line a lot, to the extent of thinking that Bitcoin was made to replace real currencies, that’s madness. Bitcoin is money and Gold is also money, but there are things that makes them different. They’re just assets. Different poeple have differnet ideas and different visons for bitcoin, some sees it as an assets so they dedicate their time to get the most of it in order to collect as much as they can so they can make huge profit from it, others that use it as an extra way of income and not tie the future of the bitcoin to theirs, and honastly both are right, because you can make a lot of money from just focusing on bitcoin but it is a risky thing, and bitcoin is not a stable thing it could fall at any time and having a backup is good, but you could be wrong and regret not being able to get all the bitcoin you could when the price is very high. |
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I don't think banks would be providing any such services like exchanging btc to fiat or any other cryptocurrency in the future, I don't think banks would act as exchanges if that's what you meant op. I don't even think that exchange big amount of bitcoins is any problem, it's something being done already in and by major exchanges. All I think banks would do is to have their own digital currency backed and supported by the government. So banks would be making use of blockchain technology but it's not necessary that they would be exchanging or dealing in bitcoins.
If they would choose to work with a crypto created by the government or the central bank it will mean they are just using a different type of fiat, not cash not digital but crypto fiat. And that would not be their "own" currency as it would be issued by the central bank, the op is talking about private banks. And those banks don;t print their own money. I doubt once regulation are put in place banks won't provide at least the service of exchanging bitcoins (I don;t see banks troubling themselves with 4000 altcoins) into whatever currency is legal in that country. We might even have an official daily exchange rate which might get rid of all the volatility in the future. Anybody that thinks banks are not keeping the pace with changes in the human society and improvements in technology should really do a reality check. I agree, plus the whole purpouse of using cryptocurrency is to be your own bank, to be able to use the money you make freely and without taxes or limitations, and without being controlled by the goverments, and that is what made them popular in the first place because they are not issued by one bank or goverment the poeple are the ones who mine it and the pople are the ones who use it, and that is why bitcoin makes us feel powerfull and in controll, and banks adapting bitcoin won't change anything, the inly way i can see it working is if they make exchanging bitcoin to fiat availabe for the ones who want to do that, other than that poeple would still rather wallets on putting it in the banks. |
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I think bitcoins is the most popular because its establish more than anything in the cryptocurrency. First points here is the price of its own, it's still increasing. It offers too among people with a great opportunity to invest and help them in the future. There are still a lot more reason behind of its popularity , one thing for sure is that no matter how it takes to move on the top, bitcoin is till the most popular cryptocurrrency.
Indeed, apart from that bitcoin has become popular because when it was created, it brought somthing new to the world, a new type of currency that was created by the people and for the poeple and even controlled by the poepel themselves and plus it was decentrelized means that it is a universal coin, it does not matter where you are or who you are you could use bitcoin at anytime, and for those reasons bitcoin has become popular and got poeple intrested in it and made its price go up gradualy. |
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there are very few websites nowaday accept paying bitcoin, because bitcoin is less popular than paper money so websites dont want to use bitcoin because they think it is not worthy to waste money for digital currency.
That is not the real reason for majority of the websites not accepting bitcoin at this moment,the price of bitcoin has a huge fluctuation and the price could go up and down in a single day and that it is a real risk for the portals or business to start accepting it,if we could see more front ends that could help them then they would accept that. I see..But more and more option there has been in the market to exchange it in fiat if you are an online shop's owner like Bitpay for example. I think I read it to let an e-commerce to accept Criptocurrencies and to trade it as soon as the transaction takes place. So for example it you sell any goods for 5$ and you want to play in BTC, it let you to pay with "that-moment-price" with a very low fee and the merchant receive the 5$ less fee in his wallet. That a way if someone want to pay in BTC and the owner is scared about its fluctuation and want to be paid in fiat. I see your point but what will the merchant get from it other than more customer base, I think exchanging bitcoin directly after receiving it from a customer is a non profitable way, however taking that and adding it to a pool and saving it until a fork comes is a better strategy because the whole idea behind earning bitcoin is to save it so you can make profit from its price increase. |
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Fiat currency may get crashed but not globally.It may occur in some countries as it happened in nigeria,venezuela,etc.Mostly,governments try to restore the value of fiat currency by changing policies and taking other necessary steps.But when it goes beyond the limit,they could do nothing.
In some rare cases,fiat currency gets collapsed due to government's wrong policies itself.
But still,fiat would continue to exist since it is backed by the government itself.
True, but generaly speaking we live in a eara where everything is digital, everything is cconnected and everythging we do we do it online, so little by little we are pushed toward a point where no one is gona need to use real physical money and then that is where the fiat will collapse, but like you said it won't be golabal, but still many countries will give up on their local currency and will switch to using the global ones. |
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I don't think bitcoin will replace any kind of local money or gold. In the end, gold still a premium metal, a physical thing and it is a standard of material. Bitcoin can be seen as gold 2.0 in the internet and the price of bitcoin higher than gold in general. However, it is almost impossible gold can be replaced by bitcoin. Bitcoin is banned from many countries and i just hope in the future bitcoin can become popular and be accepted by government
Indeed it might be that bitcoin and gold are simillar in many ways but we forget the most important thing and that is that we use gold in other things rather than investing, gold is used for jewlery and elctrnics so there is a constant demand on it, a demand that we won't see go away for a long time, bitcoin is still a new thing and has so much potential but i don't see it replacing gold any time soon, |
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When it comes to profiting from bitcoin there are a lot of things that you should keep in mind and that is, there is no fast profit and if there is it is a scam, since bitcoin is a popular currency many people found it the perfect oppurtunity to use it as a scam, the only way you could get profit from investing in sites is if they have a good reputation, as for what gives good profit there are a lot of ways like bitcoin mixing and peer to peer lending i found these the least risky and the ones that actually give intrest.
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