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Printing money can be the most convenient and quick solution to a country's financial problem but the side effects can be felt especially in the long run. This is just like robbing money from the people unless the printing is backed by value like gold or any other commonly accepted commodities. There is a big chance that if unchecked and uncontrolled this strategy can be a disaster as proved by a number of countries now suffering run away inflation rates. The solution is not barter, either because that is not already applicable in the global village that we are in. Actually, there is not a single solution on this regard because successful countries are usually using many sets of tools under their disposal, and they are implementing proven strategies suited to their circumstances.
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Seemingly in the news we hear how China is anti Bitcoin and anti cryptocurrency and well that may be all well and true but for an anti Bitcoin Country they sure do have lots of hash. In the Top 10 mining Pools in the world China has around 4 maybe even more. Which comes to the question what is really going on in China & The Bitcoin. As usual thoughts and comments are more than welcome. Thanks.
China (as represented by its official government holding the power) is adamant in its anti-Bitcoin or anti-cryptocurrency stand and there can be no easing on this policy in the next coming years, or so I predict but I am hoping I can be wrong since China is really holding a big key towards more adoption and explosion of Bitcoin. Right now, China has the biggest influence in the mining of Bitcoin which do make some people uncomfortable because considering the mindset of the people at the helm in China we really do not know what can be or if there can be a big trigger that can push China to kick Bitcoin mining business out of its territory. Of course, we are hoping that if ever that can happen then there will be other countries that can step up into the game maybe for as long as mining is profitable. |
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Although it's a good thing for established guys like him to say something positive about Bitcoin, it might take a while for BTC to take off. No offense, but tweets alone cannot guarantee that everyone would start exploring Bitcoin and other cryptocurrencies.
Some of them may even take negative advice or comments about Tesla boy in terms of Bitcoin discussions, but I think this guy right here is clearly standing out for the world's most popular cryptocurrency.
A publicity for Bitcoin is a welcome one no matter what. Of course, even if we will have a hundred men like our Tesla boy promoting Bitcoin everyday it is not a guarantee that Bitcoin will be on the mainstream or be kicking the usual fiat monies out of this world. The real universal adoption can be taking some decades especially that Bitcoin is not endorsed and backed by any government and not even backed by any valuable commodity like gold, it is rather backed by its own strength and that inkling of a good future we expect it to get into. Nonetheless, we have to thank Elon Musk for continually getting on the side of Bitcoin, him being also a good symbol of innovation and change. As to what prompted the Tesla boy tweet such a message, I will just leave that to anybody's imagination. |
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I agree with you. Hodling is great and all but if there is no usage, BTC becomes useless. Instead of just Earn & Spend, I suggest: Earn, Spend & Rebuy. Want to pay your VPN? Do not use your credit card. Instead, get your BTC (or buy some if you don’t have), spend them and then rebuy! Spend $10 in BTC, buy $10 in BTC. You not only show the companies that you want to use BTC (many stopped accepting it due to no interest) but you also give the market more liquidity, and even help BTC’s price to increase (countering the many companies that accept BTC but will sell them immediately for USD). Win-win for all of us. Higher price, public interest and bigger ecossystem.  This can be a very good idea and it would be doing many wonderful thigns to Bitcoin if a good number of people will be doing the "Earn, Spend & Rebuy" you are suggesting. However, we know human nature. As long as one is not getting some benefits of doing something then it will not be adopted by the many. I think that there must be a carrot or a cake at the end of the line for someone to do something voluntarily. Maybe merchants should be providing some good discounts for buyers to use their Bitcoin in the usual buying process. That way any inconvenience or hassle and that possible risk of losing a pump opportunity can be substituted. |
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No wonder there are some people who are raising the concern that while Bitcoin is decentralized here we have a single county accounting for more than the majority of the mining activities. Now, we don't know what can be in case China will one day decide to expel all mining business from its territory but I know for a fact that if there is still good money that can be made in this industry then new players can always come in from other suitable countries.
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I am into cryptocurrency like Bitcoin and Ethereum but I also understand that gold is a good investment and the first and original store of value especially during times of crisis, upheavals and chaos economically or politically. In fact, there is a similarity on this aspect with Bitcoin. But I have to admit that I am not into gold right now because unlike Bitcoin here in my country there is no outfit setting up for common people like me to buy into it conveniently. Let's see if soon we can have a platform here dealing with gold in the same manner they are doing it here for Bitcoin and other cryptocurrencies.
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Bitcoin is first and foremost a currency and therefore should have been viewed like the digitalized money that people can use in buying and selling of products and services. Unfortunately, speculations came in because of the rise of value of Bitcoin as magnified in the year 2017. Right now, people who are into Bitcoin are more into holding in preparation for a big bull run which many expect can happen within this year or maybe in 2021. I read somewhere that only a small part of Bitcoin in circulation are spent on the usual commerce and this is telling us that Bitcoin has been treated more like a store of value rather than as currency for everyday use. Otherwise, there would be no need to promote its spending power. I am not so sure if we should be sad on this reality or what, or maybe it does not concern me at all.
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In the below 5-minute video, it is explained why Bitcoin is a fraud where a gift record is falsely presented to the public as a market item. https://youtu.be/0azLw8iPQZUWell, You've already solved a big mystery about Bitcoin... Congratulations. So why are you still here? Yes bitcoin is a fraud and you shouldn't be here anymore. Go and find new things for you. very strange if there is someone who hates bitcoin but still likes being in the bitcoin community, Your place should not be here, I'm sure almost every bitcoin holder already knows the benefits and risks when using bitcoin, maybe you are a person injured because of bankruptcy in bitcoin   No, the author of that video and OP must be feeling like they need to save the world from the financial destruction that Bitcoin can be bringing to all of us who are here in this industry. And maybe the intention can be valid but no thanks we don't need at this time better luck next time around. People who think that Bitcoin can just be another scam or a ponzi that can crash later should look back at the voluminous 10-year history of this asset. Definitely, Bitcoin is staying here for the next 10 years while its critics can already be in the kingdom come. |
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theres no denying the fact that the sudden surge of bitcoin price last couple of days has something to do with the ME situation. and since Trump decided not to strike back, bitcoin slows down and go below $8k again. if the other end decided not to retaliate, there will be no war happening. and i guess that is for the betterment of both sides. i dont know how much the price of bitcoin now in iran but more then likely much higher than the rest of the world.
While there are those who are saying that the latest little surge of the BTC price has nothing to do with the Iran-USA conflict since there is no factual evidence that people of Iran are buying BTC in droves, the fact of the matter is that this is true. And it is because we are not actually talking here of the Iran market but of the global BTC market where some people can be thinking that the war will result into a higher price hence there can be more demand. I really don't understand why there are those who are just thinking of the Bitcoin in Iran because the marketplace is all about perception and projection. Now that BTC is tracing back because of Trump's decision not to escalate the war, that is enough evidence that there is really a big connection here. |
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The publication says, This paper sets out HMRC’s view - based on the law as it stands at the date of publication – about how individuals who have cryptoassets are taxed. It does not explicitly consider the tax treatment of cryptoassets held for the purposes of a business carried on by an individual. You need to understand how lucky you guys are! You already have a legal framework where crypto is legally recognized. Also you have a tax law around this. Finally now you have a guidance publication to support the individuals who deal in cryptos! In my country, bank accounts are getting freezed for dealing in cryptos! I can feel your pain in there sir! Indeed, it is quite hard to be dealing with something that is not recognized by the government even in a seemingly vague way. With the taxation in law, we are always assuming that the government is somehow recognizing the legality of something where the tax is imposed on. I am sure that in countries where recognition of cryptoassets is not yet a reality, time will come when that can happen too. Just be patient and be always creative while dealing with cryptocurrency.
The problem with us in the UK, is that the HMRC could change their stance or ruling at any time in the future and then retrospectively come after you for tax money in many years to come !!!
@avikz , I do feel for you - crazy, but at least we are allowed to hold/trade etc in crypto .
In any country, there are advantages as well as disadvantages that cryptocurrency holders, users and traders are facing and we can't do anything but deal with them for now. Well, as citizens, we can voice out our concerns so the government can also hear what the people in this industry can be saying but for now following the existing law is the best thing to do. With the law established in taxation comes the recognition of the industry so that we are now anymore considered to be in an illegal business and that counts a lot. |
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###Proof of Joined post###
Bitcointalk username: CryptoBry
Campaigns in which you participate: Facebook, Twitter
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I have 3 things in my mind about this rising price again
1. The current situation between Iran and US, with the price of oil rising, everything goes up, so as crypto as it can be use for funding by the government and other people may also be preparing for the worse,
2. We may be witnessing the second bull run, it is what we are waiting for right, just dont be get too excited ofcourse.
3. Whales might be doing something , or maybe they are trying to rally the price and then dump it, like always.
But no matter what is the cause you should be very careful on what we are going to do next , always keep in mind what happen before but, if you feel this is the time don't hesitate we might be witnessing something more better this time.
The possible war between Iran and USA is already starting to wane and is not anymore a valid reason for the rise of Bitcoin and in fact BTC is now slowly retracting while maybe hoping for another catalyst for the bull run which I am expecting will not be happening within this year. The possibility is that there can be some mild surge as a reaction to the coming halving but it can never go beyond the last ATH in 2017. We are in the "free" marketplace and so bad news and good news can be affecting the price movement of BTC and of course let's also give some leeway for possible manipulations by those who can flex their muscle easily. |
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So this is where Bitcoin dropped from $8,330 to just above $8,000+ in just moments after de-escalation.
For those who have bought during the dip, I think you made a nice profit out there. I just don't know if it could dip even further. For me, it's much better if you sell if you're just a day trader or a short-term holder of Bitcoin. As for long-term holders until the halving? Oh well, let's see what happens then. It's just good that the tensions are now eased because of Trump's decision to de-escalate after that revenge attack of Iran's ballistic missiles.
I have been expecting this thing. There will never be a big war between USA and Iran, at least not for now since not one of them can actually afford a full-blown conflict as it can be too costly. Now, the fact that Bitcoin reacted to this development is a big confirmation that the skirmishes between the two countries really pushed Bitcoin upwards (and it is not because people in Iran were buying BTC because they never did that!). The marketplace is a big psychological game and we should know it by now. I am now expecting that the coming halving can be the main focus of the Bitcoin market as we are now getting away from the war narrative. |
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anyone surprised by this? i'm not. kraken puts this report out every year, and every year it confirms the same trend: more and more requests from law enforcement. the only surprising thing is the USA government's share of total requests is falling. That can be really interesting. And this can mean that other countries are even more strict in ensuring that they get the information that they need even more than the USA. Well, this is quite expected since there are now many European countries really implementing the laws on cryptocurrency business and they are doing things according to what they see they should be. I am assuming that 2020 is the year that can be known where exchanges are squeezed to share the details of their users to requesting authorities. And I am not sure if something good can be coming out of this trend. |
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RE: Sometimes it's better to pay the price to get the things done right without wasting time, money, and resources. (It's like if you want to finish your house yourself you may regret it quickly and prefer to pay someone well before.) A lawyer specialized doesn't cost a lot compared to the service (i.e. not all charge you $2k just to show up in a justice court). I took a lawyer as an example but it could be like these start-ups specialized in creating businesses, they take care of everything (administrative papers, registration, etc). For about $200 I find it a cheap price. The best thing you can do, if you're going to go that way, is read up anything relevant you can find on that license from the licensing board before going to the solicitor for help or advice.. I think it is the minimum to do, at least we don't like an idiot when we go to visit a specialist. Talking to someone who is an expert and professional on this matter is the best thing to do. I agree that a lawyer who has a specialization on setting up a cryptocurrency related financial organization can help a lot. So the challenge here is to find someone who is and is not charging astronomical fees for the services to be rendered. OP should also note that regulations and procedure differ from one country to another so that best thing to do is to talk to authorities first and find out where to get the license needed for the business and other needed details. Getting services from unknown and probably unscrupulous people can cost a lot of money in the end and can end up very frustrating so one has to be aware of this risk. |
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Iranians are not really buying Bitcoin by trucks but it is the outside market that think that this conflict can be helping Bitcoin hence the surge. I don't understand why people are just looking at the demand within Iran, that is not how a global asset in the market is working. The market is all about perception and projection.
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This is a big if but if a government one day decided to try to make crypto use wide spread among masses, what do you think they would do to achieve their goal?
There is that big chance that eventually governments will be adopting cryptocurrency but it will not be the cryptocurrency that we know which can be beyond the control and influence of the people at the helm. Any government can develop their own version of cryptocurrency, that is for sure. And right now, China is developing it. time is coming when we will have digital money all over the world, side by side withe the usual fiat money we know. So it can be safe to assume that in the future there can be two types of cryptocurrency: the decentralized one and the one issued by the government as a form of tokenizing the money issued by the central banking. |
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