Its finally happening when a lot of people were predicting about the happenings and expectations for bitcoin in 2018, my argument was actually tilted towards this direction in that when government realises that their controls are becoming ineffective and that the dominance of bitcoin is now changing their highly revered social structure, they take the easy way out which is what the Australian government is doing at this time.

However, I don't see this as something to lose sleep over because they shut a door to do it via government known sources, they would then open up the opportunity to do it without their poking eyes or even without them knowing just by trading among citizens and still transferring to individual bank accounts since they can stop citizens from sending and receiving money from each other.

If this is your plan, then its very simple all you need to do is register on an exchange that allows fiat conversion since you want to buy and keep or use peer to peer site such as localbitcoin or paxful where you can get it at a fairly cheaper rate or even use your card in some other reputable sites. After that you then need to move it to a desktop or offline wallet. This is key as you should control over its private key Electrum can be useful here. With that, you are sure nothing would happen to your coins so far your host computer or phone is not compromised. Come next 10 years, your coins is still very much safe.

Even if it go that low or deeper than that, its still within the ordinary of what to expect for someone who is trading in bitcoin or that have been involved so long to understand that the high level that was reach few weeks back was ephemeral so also is the downward trend that is being witnessed currently. If you are not ready for it, don't bother coming into it because you will be disappointed beyond measure.

2018 comes with its own opportunity for anyone to tap into it and by this time next year we can reminisce over the decisions we have made whether they are for better or the other way round.

Reading through the article actually just made my day. Enough of the whole number of days for transaction to confirm or the exceeding high fees that a lot of people have been complaining which have raised the bar for people to come into bitcoin and shut those who into it forced to keep waiting for the situation to be better but today I am happy that a break through is in sight even though it might not be generally available, its something to behold and be happy about.

I must confess I have been waiting for this breakthrough that it seems the developers felt the only way was just creation of unlimited forks. When this is fully rolled out hopefully, we get to see some sanity being restored.

The reason for that is not far fetched and its basically things that have a subject of discussion several times in the past but what surprises me is that the Indian government could go to the extent of now issuing a notification to that effect to me shows some level of desperation and a cheap way to go.

It would still made some sense if there is some argument but the bone of contention that government is grappling over is just that they don't have a way to get their own cut in area of taxes and also the disruption of the social order that they wish to jealously maintained in other to continue their dominance over the populace.

I wish I could have a different opinion to this at this time but as much as I want to defend, I just just ran out of points to the defence of bitcoin and the earlier we admit that there is a fundamental flaw the better. I have seen people try to blame those who flood the network with wasteful transactions but the issue here is that there is an error that gave them the opportunity to do that and that is fundamental. Not only that, is the issue that surrounds the fork that we see everyday the possibility of that is because something was exploited which why there is a room for that, that is also a flaw.

But what we see today is people blaming the miners or the exchangers, developers, at some point would even blame newbies coming into bitcoin with their funds as if they cause the entire problem facing crypto currency.

Two questions for you on this

1. Are you ready for verification? In that do you have the details they ask for and are you comfortable in releasing them to exchange or third party sites.

2. Are you within the EU region?

If you have the two, then its half solved there several service providers that can do that for you. I know or BonPay but you can do more research on that though. If you are not in EU then I don't see how easy it can be as the option is you sell through peer to peer site which can then be sent to the back account that the Visa card is linked to. Its that simple.

Any of the big exchange sites can conveniently do it without any issues. I saw a transaction yesterday that was way more above that amount but it went through. But don't don't think you can pull that off without doing some serious verification because that is way a high amount.

Your concern should be the law surrounding the country your account is domiciled because that his where I see issues some banks are mandated by law to report an amount above $10000 to the authorities and if that will be the first time such amount will be entering that account, be ready for some form of explanation to make because its not going to just go away like someone moving $5000 we are talking about over $200,000k that's huge.

Regulators pushing for that might not have headway at this time but eventually it will still get to that point because the regulation is a sure thing that will be happening. The relief that the unnamed official is trying to pass along can only be temporary because at a point European Union would eventually be forced to take a position.

Today,  crypto card services are not expanded beyond citizens within the EU which shows the amount of movement of funds in the crypto world that would be going on courtesy Visa and MasterCard by the time this people give the statistics and supported by the projections of the what likely its going to be in few years, they will be forced to regulate.

I agree with this completely because even at some point, if one is not following what is happening, you will end up losing count of the amount of forks that have happened. But ignoring the forks completely is beyond the service providers as we have even seen several providers having to take a reverse in their earlier position when the pressure increased by their users asking for their forked coins.

I think what admin should do is to set some conditions that a fork should meet before it would be considered at all and the conditions should be such that is high enough that for any forked version to meet, it must have been adopted by the community aside that every other thing should be ignored.

I also support the fees of 2% but how we differentiate between the normal client who wants to mix his coins and the other guy who only wants to exploit the current situation?

Following the link and even doing some search on Google I couldn't agree less with your conclusion because it seems the $8.3 billion mutual fund does not have any existence in the internet space and just an employee which would largely be Op. $8.3billion company existing since 1933 would not but have expansion all over if not be world but a website. I hope this Op will come back and provide explanation in some certain issues that are not adding up in this Joshua Mutual Fund.

You might be correct to have confirmed that the total amount of that has been received but the way people are looking at it makes it seems more than that without considering salient issues which are

1. The amount is for the entire time the forum has been, which at that time someone who is OK can conveniently donate quite an amount a visit to donate section would show.

2. The amount of outflows that have gone out to pay the mods, hosting and a whole lot of administrative functions which is not that easy a lot of other individuals have tried running a forum but its just as easy as it seems.

3. Transparency is what made you see such amount which is something like that.

This is more than an expensive mistake its a grievous one at that to lose over $30000 just like that, the scammers would be happy someone fell for their unscrupulous action. After reading the entire thread, the take home from there is that we should be more careful from the source we download from as the slightest error in spelling, or arrangement of the letters could be a smoking gun which should be investigated and be sure before going ahead.

I want to suggest that you change the title of the thread to indicate its from a fake Electrum website because I must admit, after reading your first message I was a bit scared of whether Electrum has been comprised. Doing this will make people more careful in downloading softwares.

I believe the concern was initially about the fear of having to compromise your Electrum simply installing another software on your system. To be on a safe side, that is why a lot of those precautions had to be sounded with loud voice and also don't forget that initially it was called Electrum cash before it was changed to Electron cash for the sake of clarity.

Even at that time, every one was advised to send his bitcoin to another wallet first before trying to claim so the initial wallet is empty. I can say its originally due to the uncertainty that prevail around the time since its the first time a major fork will be happening. Since then, I haven't heard the clash of the two especially if you download from the official sites of both.

I am not sure how a double spend works because the moment you spend whether confirmed or not, it leaves your wallet the only way its still pending on Electrum is if you didn't check the box that makes the fee final, if that is the case, then you can spend the amount again but this time with higher fee then make it final. But the moment you do that, there is nothing you can do about it any longer than trying to use accelerator after you have paid the right fee, then all you do is wait and wait.

If that is the case, pardon my ignorance on this subject matter. I believe that can reason for the extra exorbitant fees will arise if for example one wants to spend .01btc and the wallets with that amount has over 10 addresses that generated that amount. That is when the fee is always high because the amount you want to send have to be cumulated from the several addresses.

And not the case of what you painted here because the fund is already in one address that wants to spend it or am I missing something here?

Would like to provide more clarification on this because VAT is Value Added Tax which is on goods production which moves from one level to another as a result of value being added to it before it gets to the final consumer ( over here, its not applicable on services). Again, if bitcoin is regarded as currency in a host country, tax does not apply because it means you are selling your currency for what exactly? I don't see someone selling $100 bill for $95 so VAT or any form of tax does not apply.


Treated as a commodity means you will be paying income tax and not capital gains tax because capital gains tax will only be applicable on assets.

In all I have just explain how its applicable in my jurisdiction which is not universal but a developer with collaboration from someone with expertise in tax or law can put something up but everything will be within the confines of the law.

Thank you and thank you for the headsup. I am sure a lot of users will take your advise and put their resources and even won't mind the fact that you neither give an insight as to the calibre of people who believes that what you are promoting is their key to riches neither did you say anything about what the project is all about or even provide a link to read more for someone who is reading this for the first time.

When a lot of crowd are already involved, why the need for more publicity? Just thinking though...

To be a bounty or campaign manager, in my opinion, one or the salient feature if you want to be taken seriously, is to have

1. Contribute to the community to a large extent, be there to solve problems, share knowledge, make it cleaner and not be found guilty of any violation of the rule whether written or unwritten because that can come back to bite you even if you did it when you were a novice or newbie.

2. Attention to details is another key to ensure all loose ends are taken care of. In the process of dealing with people, you have to face some opposition and that can be avoided with simple attention to details.

3. If you manage to have gotten one campaign or project to manage, try as much as possible to live up to standard at every time because a simple mistake can bring down the entire reputation you might have garnered over the years.

35,000$ is a whole lot of money though. I am not a lawyer, but I can offer some insight which can be further supported by the lawyers there or regulatory agencies. I have seen the regulatory agencies of my country arrest someone for fraud based on petition written against him by someone in another country that was taken up. If the regulatory agency in USA can recognise btc, you can look at that option. Report to them, then they take it from there.

Trying to sue him in his host country can be serious because their laws does not recognise bitcoin and getting a lawyer that even understand the way that works might cost you more than that considering that they might not even take it serious since you are not domiciled there and not every country have respect for the rule of law or justice system at the same percentage like the US.

Your best bet is to take the first option in my opinion.