why I'm not believing in bitcoin as currency

[toresto]

regardless of beleiving bitcoin or not, you can not deny that bitcoin already made us a lot of money (for who joined crypto in < mid 2017)
So that's not a problem anymore, except u re a new investor

I'm not talking about investing I talking about the belief that bitcoin tried to deliver in 2011
I never invested in crypto I always was mining many of already dead coin
and for me the interest in the technology.

people investing in bitcoin without any belief and what he can do but purely to gain money from
it.

so if you invest in something without any belief on what is it and why you just investing your money into bubble!

if you know why to invest and not only to invest that whole different story.

that is what I'm trying to say stop investing with a hope but understand why you invest in bitcoin and only because you watch some youtube video's that saying invest
bottom line in 2012 if you investing you at least know why bitcoin may be the next thing today it's only pure hope to get rich fast.

[1714897299]

1714897299

[1714897299]

1714897299

[1714897299]

1714897299

[Kprawn]

not a tax for ice cream but for buying bitcoin, back their how can you pay tax for bitcoin if you mined it with your computer

This is just ridiculous. You have to pay taxes, no matter how you earn that money. If you got into Bitcoin because you want

to avoid paying taxes, then you in the wrong game. Yes, some of the early investors had these great dreams of a

technology that would give the big "FUCK YOU" to governments and that was totally unrealistic. Governments might not be

able to STOP Bitcoin {the technology}, but they can regulate it to death. {effectively banning it and making it a criminal

offense, if you were caught using it} Do you want that or do you want to find some middle ground where Bitcoin can still

be used, within the same regulated environment as other financial technologies? Pay your damn taxes and be done with these

F'ker!

in 2011 government treated bitcoin as "wtf is bitcoin" and relax it's not "real money"
and no one even talked about put tax on bitcoin it was not real for them

I was around back then and I assure you most of us added "investment income" on our tax return, hoping that we would not

be audited. I treated it as "commodity trading" for tax purposes and I paid Capital Gains. {As advised by a tax consultant}

So, IF you really wanted to pay taxes, you could go the extra mile, but people seem to think Bitcoin is Tax-free or Duty

free. Just recently we saw the media claiming that most people on Coinbase, were not paying taxes. We should adapt to

changing circumstances and get with the program or Bitcoin will be banned. {I hate it, but that is the reality}  

Edited : Spelling & Grammar 

[Bolt Brownie]

even with Lightning Network people holding their coins and not really using them.

so Crypto  became trade market and not currency

if people not looking at bitcoin as currency in real life, we kinda losing the whole point of bitcoin here

Why do you say that even with the lightning network people will be holding their coins instead of using them?
Although we already have some lightning network nodes working on the main net, because we have some "techy" users that are very excited with it's development and can't wait to try it out, I'm sure we all agree that the LN is still in alpha phase to say the least. I do hope we will see it released during this year, but we are still away from it because it's very hard to use right now (and some developers even ask you not to do it right now, at least not on the main net of course).

So you can't say that even with LN, people will not use their coins. I know I will use them, if I see merchants adopting it. If bitcoin gets safe enough I definitely prefer to use it as a payment method, instead of a credit card. I'm not saying I would entirely switch fiat for bitcoin, but I would definitely hold both, and use both as I see fit.

As far as taxes and regulation goes, I'm not against regulation and I think it will help adoption. I do think bitcoin should be taxed as a currency and not as property, but time will tell how things will turn out. I do think we must pay taxes over our bitcoin gains. It's a normal thing to do since we live in a society. If governments are not corrupt, taxes are a good and necessary thing, and I see no problem with them.

I still have a lot of faith in crypto, and I think it has good chances of turning out fine. If governments do a bad job in regulating it, we can still use it as peoples money, just like citizens in Venezuela are doing. I do hope it doesn't have to come to that, and I don't think it will, since most developed countries are not like Venezuela.

[Bodiul1975]

Bitcoin is a liquefied currency that can be seen online but is not seen as a money market, so Bitcoin does not believe that there are many people who do not believe this Liquid bitkayen.

[First77]

Bitcoin price rise $1 to $20,000 gave $800,000,000 to a single "cyber criminal".

A major terrorist attack looks imminent.

[bug.lady]

Bitcoin price rise $1 to $20,000 gave $800,000,000 to a single "cyber criminal".

A major terrorist attack looks imminent.

it is true only with the assumption that a single cyber criminal holds 40.000 BTC. Wow! It is a big assumption you know. Do you have any link or any source to backup your claim?

Also, why link cyber criminality with terrorist activity in one sentence? They may be related but saying imminent is a stretch to me.

[adzino]

Strongly agree with your points. Bitcoin "used to be" completely and truly decentralized back then. But sadly the government had to intervene and start regulating exchanges in order to take at least some control over crypto currencies indirectly.
You do know that the fees recently has fallen significantly. Fee as low as 5 sat/b will get your transactions confirmed within next 6-7 blocks.

[Hellobx]

Gox? Oh, no, I hate to hear this name, this broken website that makes me sad.
But the arrival of the  lightning network is likely to change the current status, I think if the block of congestion and transfer speed is too slow problem was solved, so the bitcoin is entirely possible to become real currency.

[toresto]

Gox? Oh, no, I hate to hear this name, this broken website that makes me sad.
But the arrival of the  lightning network is likely to change the current status, I think if the block of congestion and transfer speed is too slow problem was solved, so the bitcoin is entirely possible to become real currency.

I wish it become a real currency

oh yeah Damn you mt Gox

[bug.lady]

Strongly agree with your points. Bitcoin "used to be" completely and truly decentralized back then. But sadly the government had to intervene and start regulating exchanges in order to take at least some control over crypto currencies indirectly.
You do know that the fees recently has fallen significantly. Fee as low as 5 sat/b will get your transactions confirmed within next 6-7 blocks.

But the fee problem is not related to government regulations. The regulations are there to protect people from scam (good thing) and to be able to tax them (well, discutable). The high fees are the joint effect of some technological and architecture decisions in the past, greed of miners (mining empty or half empty blocks), and the increasing user base to the point blockchain is overloaded (related to great success of bitcoin)

[b!t]

Come on man, the solutions for for upgrading the bitcoin network won't come in a day, it takes a lot of time to do things correctly and not screw things up. Give it time, Like Antonopoulos said about the internet it was horrible in the early years, and look at it now. I wish there would be more ways to actually use bitcoin now, but I believe things will get better when riding the lightning. We'll see.

[toresto]

Come on man, the solutions for for upgrading the bitcoin network won't come in a day, it takes a lot of time to do things correctly and not screw things up. Give it time, Like Antonopoulos said about the internet it was horrible in the early years, and look at it now. I wish there would be more ways to actually use bitcoin now, but I believe things will get better when riding the lightning. We'll see.

it will take time but it doesn't change the fact the people hold it as casino chips waiting to cash out, most of the people that bought bitcoin from exchanges  never even tried to use it so they not even aware of the problem with the light network, they just don't use bitcoin as money

[bernashka]

1) Over time, mining will become cheaper.
2) The pressure of opponents (power, other EPS) will intensify, there will be a lot of negative
3) Owners themselves will gradually get rid of bitcoins (tired of just), or because of fear of collapse of the course. The supply will exceed demand
4) Loss of faith / novelty effect
5) With any "bunch / sneek" Bitcoin will fly down quickly, and recover slowly. (fear, mistrust) that can provoke a further fall.

I personally would not have invested in this currency for more than a few months. It's almost like a Mavro: the rate is constantly growing and those wishing to buy a new course are decreasing.

[CryptoWorld87]

i agree with some of your points in there specialy about the fee todays is too much that if you send a small amount you have to pay higher and if you want faster transaction then you have to pay more higher. sopposedly if you send an amount like 50cent the payment fee is more lower like 3 cent for example but it happens now that the fee is more higher than you have to send. about the faster transaction i wish LN can solve this problem.

[BrewMaster]

in 2012 the only question that people asked me was
"what is bitcoin?"

today only one:

"should I invest or not?"

what you say is true and people need to know bitcoin as a currency more than they know it as an investment but you can't blame them for it because it appreciates a lot and will continue to do so for a long time and that will make people want to think of it more as an investment.

also i want to mention that things weren't so different in 2012 either. maybe in 2009 and early months of bitcoin release what you said was true but ever since it was listed on an exchange and trading started and price went from $0.01 to $1 people have been asking "should i invest in bitcoin".

[toresto]

And yes, I think that Bitcoin is a perfect investment... for the next couple of years

but why?

can you explain why to invest besides "it's going to grow up"  "buy it while you can"
well in  2011-12 I could explain why to   "invest" or not to "invest"
explain to people why bitcoin as a technology and practical use in life
and why the price is going to blow up in the future.

but not now

[tetyulfania]

You have the trouble with the ico coin and you can make the fault to make the words of bitcoin is cam and you will not believe the bitcoin, same the ico project is manage by the owner have bad reputation, and they are the owner of ponzi, so they have the attitude to lie all of investors want to invest their money in ico, they put the ico and coin name for their project, but the main of their goal is to scam all of investor, so you can say bitcoin is scam.

[nick_nick]

It doesn't look like you've transacted with Bitcoin lately. I'd be surprised if you have to spend even 50 cents. Unless you're on an exchange of course, in which case it's hardly the network's fault.

Other than that, it's cool. We all have different reasons for believing, and if you feel Bitcoin is no longer that, then by all means make your exit. I still believe in Bitcoin as a currency. It's still in its infancy as far as the technology goes, and improvements like the Lightning Network are going to make it more and more viable.

I humbly support this assertion. Bitcoin is still infant because more people are yet to understand cryptocurrencies and how it work. I strongly believe in Bitcoin and know it would bounce back; however you may also have your reasons for wanting to back off

[Yesolo]

but why?

can you explain why to invest besides "it's going to grow up"  "buy it while you can"
well in  2011-12 I could explain why to   "invest" or not to "invest"
explain to people why bitcoin as a technology and practical use in life
and why the price is going to blow up in the future.

but not now

Yes, I can. But first, I’d like to tell that perfect investment to me means 50%-100% yearly. And I believe that the auditory of bitcoin will hit the maximum value in the next couple of years. And it will be the moment to sell it. More precisely it will be the moment when my grandma decides to buy bitcoin.

[toresto]

but why?

can you explain why to invest besides "it's going to grow up"  "buy it while you can"
well in  2011-12 I could explain why to   "invest" or not to "invest"
explain to people why bitcoin as a technology and practical use in life
and why the price is going to blow up in the future.

but not now

Yes, I can. But first, I’d like to tell that perfect investment to me means 50%-100% yearly. And I believe that the auditory of bitcoin will hit the maximum value in the next couple of years. And it will be the moment to sell it. More precisely it will be the moment when my grandma decides to buy bitcoin.

BUT WHY??
you just saying the same thing as other its a good "investment"
to invest you just saying you will get 50% but why? can you justify your words?

maybe in the future bitcoin will lunch an aircraft or maybe some country will declare it as their currency

besides saying you will gain 50 or 100%  more do you say to people
"it's decentralized" "more shops will accept it to keep it"
soon everyone will use bitcoin this was the words I used to convince people to use bitcoin in 2011-2012

this was the point of my post people look at bitcoin only as a momentum to invest it becomes "casino chips" you just hold to cash out

but no one can really justify their words and explain why to invest in this "bitcoin"