#1User:
https://bitcointalksearch.org/user/yasminshaikh-1344614 (banned)Post:
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It is legal to use bitcoin in the United States, and payments are subject to the same taxes and reporting requirements as any other currency. There is no physical bitcoin currency the way there is a dollar, euro or pound in coming year we can see 99% of the country going to accept bitcoin kindly call me on telegram will you with more new update on bitcoin or join this channel
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https://www.investopedia.com/ask/answers/121515/bitcoin-legal-us.aspBitcoin offers an efficient means of transferring money because of the decentralization of a market in the internet. Also bitcoin gains a lot of exposure between the year 2010 and continuously gaining fame up to now.
Why it's price is so high?
It actually depends from its use as a medium of exchange and as a store of value. These 2 factors are very dependent to each other
because if bitcoin does not achieve success as a medium of exchange, it will have no practical utility and thus no intrinsic value and won't be appealing as a store of value.
The price moves up because this crypto is huge success as a medium of exchange thus gaining its popularity and intrinsic value as a payment method.
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https://www.investopedia.com/ask/answers/100314/why-do-bitcoins-have-value.asp~~~
Before we enter the crypto currency we first learn bitcoin what is it? We know bitcoin is a digital currency or internet money. In the present day we also find out the advantages and disadvantages of bitcoin.
Advantages
Due to the unique nature of virtual currencies, there are some inherent advantages to transacting through Bitcoin that users of other currencies do not get. Digital currencies are a relatively new and untested medium of exchange, and users should be careful to weigh their benefits and risks.
disadvantages
1. Volatile
They call it High-Risk=High-Profit for a reason. You can become a millionaire in a day and be broke within the next week.
2. It's Easy to misplace/User errors
while dealing with Bitcoin or any other cryptocurrency you are very likely to misplace it or lose it while making a transaction.
3. Frequent black market transactions have made owning bitcoin bad for reputations.
try also find other cryptocurrency information that you can only see on google or other people.
Original:
https://www.investopedia.com/ask/answers/100314/what-are-advantages-paying-bitcoin.aspDue to the unique nature of virtual currencies, there are some inherent advantages to transacting through Bitcoin that users of other currencies do not get. Digital currencies are a relatively new and untested medium of exchange, and users should be careful to weigh their benefits and risks.you can buy using bitcoin without exerting too much effort.
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https://www.investopedia.com/ask/answers/100314/what-are-advantages-paying-bitcoin.asp
Due to the unique nature of virtual currencies, there are some inherent advantages to transacting through Bitcoin that users of other currencies do not get. Digital currencies are a relatively new and untested medium of exchange, and users should be careful to weigh their benefits and risks. That said, Bitcoin appears to offer some unique possibilities.
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https://www.investopedia.com/ask/answers/100314/what-are-advantages-paying-bitcoin.aspOne of the most widely publicized benefits of Bitcoin is that governments, banks and other financial intermediaries have no way to interrupt user transactions or place freezes on Bitcoin accounts. For long terms nothing to worry about it's only first half of the year.
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https://www.investopedia.com/ask/answers/100314/what-are-advantages-paying-bitcoin.aspOne of the most widely publicized benefits of Bitcoin is that governments, banks and other financial intermediaries have no way to interrupt user transactions or place freezes on Bitcoin accounts. The system is purely peer to peer users experience a greater degree of freedom than with national currencies. Furtherly, Since Bitcoin transactions have no intermediary institutions or government involvement, the costs of transacting are kept very low. This can be a major advantage for travelers. Additionally, any transfer in Bitcoins happens very quickly, eliminating the inconvenience of typical authorization requirements and wait periods.
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https://www.investopedia.com/ask/answers/100314/what-are-advantages-paying-bitcoin.aspAbsolutely correct, and other benefits of Bitcoin are:
1.User Anonymity: Bitcoin purchases are discrete. Unless a user voluntarily publishes his Bitcoin transactions, his purchases are never associated with his personal identity, much like cash-only purchases, and cannot be traced back to him. In fact, the anonymous Bitcoin address that is generated for user purchases changes with each transaction.
2.Purchases Are Not Taxed:
Since there is no way for third parties to identify, track or intercept transactions that are denominated in Bitcoins, one of the major advantages of Bitcoin is that sales taxes are not added onto any purchases.
3.No Third-party Interruptions
One of the most widely publicized benefits of Bitcoin is that governments, banks and other financial intermediaries have no way to interrupt user transactions or place freezes on Bitcoin accounts. The system is purely peer-to-peer; users experience a greater degree of freedom than with national currencies.
Original:
https://www.investopedia.com/ask/answers/100314/what-are-advantages-paying-bitcoin.aspOne of the most widely publicized benefits of Bitcoin is that governments, banks and other financial intermediaries have no way to interrupt user transactions.
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https://www.investopedia.com/ask/answers/100314/what-are-advantages-paying-bitcoin.aspFavorite Exchanges? my favorite exchange is Bitcoin because standard wire transfers and foreign purchases typically involve fees and exchange costs. Since Bitcoin transactions have no intermediary institutions or government involvement, the costs of transacting are kept very low. This can be a major advantage for travelers. Bitcoin is independent from financial institutions such as banks. It uses a decentralized database that is immune to any manipulation. Transfers are being booked immediately, making the express transfers possible, without the need of third parties. With digital currencies exchanges like ours, we immediately connect buyers with sellers
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https://www.investopedia.com/ask/answers/100314/what-are-advantages-paying-bitcoin.aspBitcoin is the best solution for your business, "Very Low Transaction Fees".
Any transaction in Bitcoins happens very quickly, eliminating the inconvenience of typical authorization requirements and wait periods.
Standard wire transfers and foreign purchases typically involve fees and exchange costs. Since Bitcoin transactions have no intermediary institutions or government involvement, the costs of transacting are kept very low.
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https://www.investopedia.com/ask/answers/100314/what-are-advantages-paying-bitcoin.aspBitcoin is really big help in terms of paying. Since it's special feature with out any physical interaction and you can send money digitally. Like with many online payment systems, Bitcoin users can pay for their coins anywhere they have Internet access. With Bitcoin it is very possible to be able to send and get money anywhere in the world at any given time.
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https://www.investopedia.com/ask/answers/100314/what-are-advantages-paying-bitcoin.aspIn addition, the advantages of using BTC as a payment system including:
Bitcoin purchases are discrete, A user cannot be traced.
one of the major advantages of Bitcoin is that sales taxes are not added onto any purchases.
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https://www.investopedia.com/ask/answers/100314/what-are-advantages-paying-bitcoin.aspBeyond its anonymous nature, bitcoin has the potential to change the way we bank, make transactions, and view money. It really gives opportunity to rewrite the banking system
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https://www.investopedia.com/articles/investing/032615/how-bitcoin-can-change-world.aspAs I consider Bitcoin something along the lines of next-gen gold, I think it will become one of the most predominant means of wealth storage. One can earn money (dollars/pounds/euros) by working, selling things, or exchanging other currencies. Similarly, one can earn bitcoins by mining (working in virtual world), getting paid in bitcoins for selling goods, or purchasing bitcoins by exchanging existing currencies (like US dollars). Earned or purchased bitcoins reside in safe wallets, which are online secure bitcoin storage provided by bitcoin service providers. All in all, bitcoin and its underlying technology have great potential. Applications based on block chains will present technical, legal, economical, and social problems that may be similar to the ones raised by similar peer-to-peer applications like Torrent, Napster, or Freenet.This is how it is impacting the world.
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https://www.investopedia.com/articles/investing/032615/how-bitcoin-can-change-world.aspyes bitcoin can change the world, one can earn money (dollars/pounds/euros) by working, selling things, or exchanging other currencies. Similarly, one can earn bitcoins by mining (working in virtual world), getting paid in bitcoins for selling goods, or purchasing bitcoins by exchanging existing currencies (like US dollars)
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https://www.investopedia.com/articles/investing/032615/how-bitcoin-can-change-world.aspTaxes can be taxed bitcoin for reasons. Bitcoin is a virtual currency that uses cryptographic encryption system to facilitate secure transfers and storage. Unlike a fiat currency, bitcoin is not printed by a central back, nor is it backed by any. Bitcoins are generated by what is called mining-process wherein high-powered computers.
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https://www.investopedia.com/articles/investing/040515/are-there-taxes-bitcoins.aspMost of countries consider Bitcoin as an asset or intangible property ( as by IRS ). Bitcoin's treatment as an asset makes the tax implication clear. However, taxation on bitcoins and its reporting is not as simple as it seems. For starters, it is difficult to determine the fair value of the bitcoin on purchase and sale transactions. Frequent traders and investors could use "first in, first out" (FIFO) or "last in, first out" (LIFO) accounting techniques to reduce tax obligations.
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https://www.investopedia.com/articles/investing/040515/are-there-taxes-bitcoins.asp~~~
The United States has taken a generally positive approach towards bitcoin.Canada considers bitcoin exchanges to be money service businesses.Australia allows entities to trade, mine, or buy bitcoin. Individual EU countries have developed their own bitcoin stances. A few nations are allowing bitcoin while others are either undecided or issuing warnings.
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https://www.investopedia.com/articles/forex/041515/countries-where-bitcoin-legal-illegal.aspAside from hackers, I can say investing bitcoins are totally risky, Price fluctuations in bitcoin spot rate in bitcoin exchanges is driven by many factors, Volatility is measured in traditional markets by the volatilty index. Volatility in bitcoin does not yet have a generally accepted index since cryptocurrency as an asset class is still in nascent stages, Another is the " Volatility is the rate of adoption is hampered by bad press".
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https://www.investopedia.com/articles/investing/052014/why-bitcoins-value-so-volatile.aspHi and welcome to Bitcoin Forum!
Bitcoin is basically the first cryptocurrency and altcoin is reffered to “alternative Coin”. Altcoins are the alternative cryptocurrencies launched after the success of Bitcoin. Generally, they project themselves as better substitutes to Bitcoin. The success of Bitcoin as the first peer-to-peer digital currency paved the way for many to follow. Many altcoins are trying to target any perceived limitations that Bitcoin has and come up with newer versions with competitive advantages. There is a great variety of altcoins which include CloudCoin, LiteCoin, Ethereum etc.
Thankyou!
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https://www.investopedia.com/terms/a/altcoin.aspAltcoins are the alternative cryptocurrencies launched after the success of Bitcoin. Generally they project themselves as better substitutes to Bitcoin. The success of bitcoin as the first peer-to-peer digital currency paved the way for many to follow.
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https://www.investopedia.com/terms/a/altcoin.aspI think altcoins should be get bought. As after bitcoin if any other crypto currencies get such an acknowledgement than it is altcoins and even that altcoins prices also increased and it's also an investment like a bitcoins. Altcoins are the alternative cryptocurrencies launched after the success of Bitcoin. Generally, they project themselves as better substitutes to Bitcoin. The success of Bitcoin as the first peer-to-peer digital currency paved the way for many to follow. Many altcoins are trying to target any perceived limitations that Bitcoin has and come up with newer versions with competitive advantages. There is a great variety of altcoins.
Thus most altcoins are peer-to-peer, involve a mining process and offer efficient and cheap ways to carry out transactions on the web. But even with many overlapping features, altcoins vary widely from each other.
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https://www.investopedia.com/terms/a/altcoin.asp~~~
Altcoins are the alternative cryptocurrencies launched after the success of Bitcoin.The success of Bitcoin as the first peer-to-peer digital currency paved the way for many to follow. Many altcoins are trying to target any perceived limitations that Bitcoin has and come up with newer versions with competitive advantages; but still Bitcoin remains the king among all crytocurrencies
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https://www.investopedia.com/terms/a/altcoin.aspAltcoins are the alternative cryptocurrencies launched after the success of bitcoin. Bitcoin's success as the first peer to peer digital currency paved the way for many to follow.
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https://www.investopedia.com/terms/a/altcoin.aspHeres the definition of altcoin tthat google gave me
DEFINITION of 'Altcoin' Altcoins are the alternative cryptocurrencies launched after the success of Bitcoin. Generally, they project themselves as better substitutes to Bitcoin. The success of Bitcoin as the first peer-to-peer digital currency paved the way for many to follow.
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https://www.investopedia.com/terms/a/altcoin.aspAltcoins are the alternative cryptocurrencies launched after the success of Bitcoin. Generally, they project themselves as better substitutes to Bitcoin. The success of Bitcoin as the first peer-to-peer digital currency paved the way for many to follow. Many altcoins are trying to target any perceived limitations that Bitcoin has and come up with newer versions with competitive advantage