is bitcoin having real value? | Bitcointalksearch.org

arieq

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Quote from: oblivi on December 01, 2014, 08:22:42 PM

Yes you have value because

1) There is people willing to pay for it
......

yeah... BTC has somehow connected itself to commodity values, once the Bit License is functional, hedge fund money will flow into
crypto, Happy Holidays.

LOBSTER

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I'd say you have the difficulty which gives the value. For sure the supply and demand but as example, gold has also it's difficulty to find it and it's (like Bitcoin) rather rare.

lynn_402

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If you're on this forum, then you probably already consider that it does. Many individuals' opinion on its value is all that counts for it to be worth something.

sifter

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CoinBooster Rep

Think of it much like digital gold.

Soappa

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I can exchange my bitcoin for USD or Euro easily.
I can spend my bitcoin on numerous products and services, from multinational corporations and from small local shops.

Why would it have no real value?

Soappa

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Quote from: Slark on December 01, 2014, 08:08:45 PM

Quote from: virtualx on December 01, 2014, 07:55:49 PM

Quote from: kingkedi on October 24, 2014, 02:00:38 AM

hello i ahve doubt i.e bitcoins are distributed freely for mining

Mining costs a lot of money: electricity costs, hardware costs and so on. The difficulty is rising, you will need to buy new hardware every so often. This is anything but free.

I have one question. What will happen to bitcoin when all will be mined? Then there will be only need for some infrastructure to deal with network maintenance and flow of coins.

There will still be bitcoin mining when block reward becomes zero and miners will then earn only tx fees.
Also, I expect big bitcoin holders will keep mining even at loss to support the network.

oblivi

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Yes you have value because

1) There is people willing to pay for it
2) The way to obtain then without paying, requires energy (mining)

yvv

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.

Bitcoin has real value for sure. The question is, does it have imaginary part? That would be so cool, a currency unit in 2 dimensions!

Slark

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Quote from: virtualx on December 01, 2014, 07:55:49 PM

Quote from: kingkedi on October 24, 2014, 02:00:38 AM

hello i ahve doubt i.e bitcoins are distributed freely for mining

Mining costs a lot of money: electricity costs, hardware costs and so on. The difficulty is rising, you will need to buy new hardware every so often. This is anything but free.

I have one question. What will happen to bitcoin when all will be mined? Then there will be only need for some infrastructure to deal with network maintenance and flow of coins.

virtualx

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LOTEO

Quote from: kingkedi on October 24, 2014, 02:00:38 AM

hello i ahve doubt i.e bitcoins are distributed freely for mining

Mining costs a lot of money: electricity costs, hardware costs and so on. The difficulty is rising, you will need to buy new hardware every so often. This is anything but free.

arieq

sr. member

Activity: 364

Merit: 256

Quote from: shanem on November 18, 2014, 10:30:33 AM

Bitcoin is still undervalued.
When most people on the street accepts bitcoin, the price will then go to the moon.
Buy your bitcoins now while they are still cheap.

If bitcoin limits itself just as a money-exchange mechanism, then you have better alternatives (faster, cheaper etc., Ripple is one of the examples). Bitcoin should have value also as store of value.

BitSense

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One day some people in the past did use seashelves as monney Wink

Wusolini

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no need to carry heavy money bags anymore

Quote from: Simon8x on November 18, 2014, 05:26:31 AM

Quote from: Wusolini on November 17, 2014, 05:32:43 PM

Quote from: Pierre11 on November 17, 2014, 01:46:13 PM

Quote from: jjacob on November 17, 2014, 01:31:26 PM

Quote from: Wusolini on November 16, 2014, 04:31:14 PM

Bitcoin is a very same scam as fiat curreny is. Both isn't covered by anything, only people trust and mining is just brilliant way to solve bitcoin "money" supply.
You cant make them out of thin air, like banks do with money and cant throw them in place all at once, then only few first people would became BTC owners.

The only difference right now is that taxes have to be paid in fiat.
Once bitcoin becomes established in international trade, even that might go.

Why pay taxes on bitcoin Huh

I don't get the point if it can't be traced.

Probably refers to official bitcoin business.
Whenever you made a profit (no matter how) you have to pay taxes. And most of bitcoin businesses are connected to fiat, so there is the trap.
Only in case you never turn your btc into fiat you are free of tax (in theory), but being a big fish you are screwed anyway.
From law point of view, bitcoins are also considered as possession (property, estate), and you cant obtain possessions without paying a proper tax.

What if the businesses take bitcoin through Bitpay or Coinbase? The sales should be logged and can be traced by the authority easily.
Are the businesses just pay tax like they have done business in fiat? After all, they receive fiat from Bitpay or Coinbase after the sales.

Correct, whenever prove (reveal) the identity, can be easily traced.
I have no bitcoin business (running just regular) and only assuming ... bitcoins can be, and are considered as assets so at the end of tax year you have to inform the respective institute and pay proper tax.
Whoever not doing, may result in penalty ... just my opinion

calchuchesta

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There's nothing free, they are putting great energy into mining (paying big electricity bills for it)
And yes you have value, the value people want to pay for it.

shanem

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Bitcoin is still undervalued.
When most people on the street accepts bitcoin, the price will then go to the moon.
Buy your bitcoins now while they are still cheap.

Simon8x

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Activity: 568

Merit: 500

Quote from: Wusolini on November 17, 2014, 05:32:43 PM

Quote from: Pierre11 on November 17, 2014, 01:46:13 PM

Quote from: jjacob on November 17, 2014, 01:31:26 PM

Quote from: Wusolini on November 16, 2014, 04:31:14 PM

Bitcoin is a very same scam as fiat curreny is. Both isn't covered by anything, only people trust and mining is just brilliant way to solve bitcoin "money" supply.
You cant make them out of thin air, like banks do with money and cant throw them in place all at once, then only few first people would became BTC owners.

The only difference right now is that taxes have to be paid in fiat.
Once bitcoin becomes established in international trade, even that might go.

Why pay taxes on bitcoin Huh

I don't get the point if it can't be traced.

Probably refers to official bitcoin business.
Whenever you made a profit (no matter how) you have to pay taxes. And most of bitcoin businesses are connected to fiat, so there is the trap.
Only in case you never turn your btc into fiat you are free of tax (in theory), but being a big fish you are screwed anyway.
From law point of view, bitcoins are also considered as possession (property, estate), and you cant obtain possessions without paying a proper tax.

What if the businesses take bitcoin through Bitpay or Coinbase? The sales should be logged and can be traced by the authority easily.
Are the businesses just pay tax like they have done business in fiat? After all, they receive fiat from Bitpay or Coinbase after the sales.

Simon8x

hero member

Activity: 568

Merit: 500

Why do people take a fiat banknote and provide you a service?
Because they trust the government and the country that value of that banknote will stay pretty stable.

Similarly people take bitcoin because they trust the decentralized system.

Wusolini

legendary

Activity: 1190

Merit: 1000

no need to carry heavy money bags anymore

Quote from: Pierre11 on November 17, 2014, 01:46:13 PM

Quote from: jjacob on November 17, 2014, 01:31:26 PM

Quote from: Wusolini on November 16, 2014, 04:31:14 PM

Bitcoin is a very same scam as fiat curreny is. Both isn't covered by anything, only people trust and mining is just brilliant way to solve bitcoin "money" supply.
You cant make them out of thin air, like banks do with money and cant throw them in place all at once, then only few first people would became BTC owners.

The only difference right now is that taxes have to be paid in fiat.
Once bitcoin becomes established in international trade, even that might go.

Why pay taxes on bitcoin Huh

I don't get the point if it can't be traced.

Probably refers to official bitcoin business.
Whenever you made a profit (no matter how) you have to pay taxes. And most of bitcoin businesses are connected to fiat, so there is the trap.
Only in case you never turn your btc into fiat you are free of tax (in theory), but being a big fish you are screwed anyway.
From law point of view, bitcoins are also considered as possession (property, estate), and you cant obtain possessions without paying a proper tax.

Pierre11

hero member

Activity: 502

Merit: 500

Quote from: jjacob on November 17, 2014, 01:31:26 PM

Quote from: Wusolini on November 16, 2014, 04:31:14 PM

Bitcoin is a very same scam as fiat curreny is. Both isn't covered by anything, only people trust and mining is just brilliant way to solve bitcoin "money" supply.
You cant make them out of thin air, like banks do with money and cant throw them in place all at once, then only few first people would became BTC owners.

The only difference right now is that taxes have to be paid in fiat.
Once bitcoin becomes established in international trade, even that might go.

Why pay taxes on bitcoin Huh

I don't get the point if it can't be traced.

jjacob

legendary

Activity: 1554

Merit: 1026

★Nitrogensports.eu★

Quote from: Wusolini on November 16, 2014, 04:31:14 PM

Bitcoin is a very same scam as fiat curreny is. Both isn't covered by anything, only people trust and mining is just brilliant way to solve bitcoin "money" supply.
You cant make them out of thin air, like banks do with money and cant throw them in place all at once, then only few first people would became BTC owners.

The only difference right now is that taxes have to be paid in fiat.
Once bitcoin becomes established in international trade, even that might go.

Topic: is bitcoin having real value? (Read 4447 times)