The danger of the cyptocurrencies - page 5.

xSkylarx

hero member

Activity: 2366

Merit: 594

Quote from: SoulBargain on March 17, 2017, 06:29:59 AM

Well, as of today, it is not possible and I think the countries are not that intelligible enough to embrace bitcoin fully and that they foresee the worst scenarios and also the currencies in each of the country establish a deep root in their culture and also an identity of their nation.

In conclusion, bitcoin may be apart of the economical state of a country but it can never be embraced fully nor be more dominant over their own currency.

Maybe today it is true that bitcoin is not yet acceptable for the Government that is why they have rejected the bitcoin ETF, but who knows, maybe someday in the near future, bitcoin will be embrace by all the people around the world and of course the Government will embrace it too. We just have to give them some time for this one, to think whether they are going to accept bitcoin or not in the near future. But right now, I know that they are always keeping an eye on it, thinking if its really worth to give it a try for bitcoin.

And if this things happen for real, then we don't have to worry anymore about the bitcoins price going down, because I know that it will continue rising day by day, if this ETF will be approved by the SEC.

danherbias07

legendary

Activity: 3346

Merit: 1134

Leading Crypto Sports Betting & Casino Platform

Quote from: Mr.grin on March 18, 2017, 04:53:31 AM

Quote from: bitbunnny on March 17, 2017, 02:52:08 PM

Maybe I'm wrong but I think that some banks and governments stopped considering Bitcoin as a threath but more as an opportunity to take their piece of cake for themselves and make the profit. I think they have realised it's too late to stop Bitcoin so that is better for them to join that train before it's too late.

Well, today bitcoin have become huge, and even the government will not be able to make bitcoin disappear. Well, bitcoin is threatening the country because bitcoin has no taxes. because of this, the government may see bitcoin as a threat.

Though it will not disappear they can do something in their power to make it forgotten. Simple news about bitcoin being a currency used in different terrorist transaction can make it work. If that spread all over the world how can we add up more investors into supporting bitcoin. That problem can occur and if it lasts long. The bitcoin will lose its value over time.

ASHLIUSZ

hero member

Activity: 994

Merit: 502

Quote from: equator on March 18, 2017, 04:56:53 AM

Quote from: Mr.grin on March 18, 2017, 04:53:31 AM

Quote from: bitbunnny on March 17, 2017, 02:52:08 PM

Maybe I'm wrong but I think that some banks and governments stopped considering Bitcoin as a threath but more as an opportunity to take their piece of cake for themselves and make the profit. I think they have realised it's too late to stop Bitcoin so that is better for them to join that train before it's too late.

Well, today bitcoin have become huge, and even the government will not be able to make bitcoin disappear. Well, bitcoin is threatening the country because bitcoin has no taxes. because of this, the government may see bitcoin as a threat.

who told bitcoin dont have taxes, the country which is accepting bitcoin have imposed tax on its uses and you have to show all details about trading and uses of bitcoins. If you are now showing details then you are doing illegal activity. And showing bitcoin in tax is good for bitcoin users and for bitcoin itself like this more shop owners will use bitcoin as it is getting legal status

Bitcoin have taxes. Only very few show transactions and profiting through bitcoin and pay taxes. In the past only a countable number of around 1000 people have added tax based on their earning from bitcoin. On this basis US tax dept have claimed the user information documented on coinbase. Now they are in regulatory acts claim. So bitcoin have tax but not functioning in a perfect manner.

SoulBargain

full member

Activity: 234

Merit: 100

Quote from: Jewell on March 17, 2017, 05:35:38 PM

Quote from: DoublerHunter on March 17, 2017, 08:31:16 AM

Quote from: SoulBargain on March 17, 2017, 06:29:59 AM

Well, as of today, it is not possible and I think the countries are not that intelligible enough to embrace bitcoin fully and I'm that they foresee the worst scenaeios and also the currencies in each of the country establish a deep root in their culture and also an identity of their nation.

In conclusion, bitcoin may be apart of the economical state of a country but it can never be embraced fully nor be more dominant over their own currency.

I think it is early to say that kind of statement that bitcoin cannot be embraced or accepted fully by the different nations in the world because it is always depend on how they look at bitcoin and what are their perspective in bitcoin. If bitcoin will continue to be good in shape and continue improving then there is no doubt that other nations will accept bitcoin fully.

yes currently so nations may not be interested in bitcoin, but i think wen all the other people will start using bitcoin then they will also start using bitcoin. so i think bitcoin is the need of every society and every country.

What I'm implying is that Bitcoin can't be a national currency but can be a part of it. Bitcoin on the other hand can be the flobal currency because a lot of people from different countries are using it.

Quote from: Kabul on March 17, 2017, 11:48:46 AM

Quote from: SoulBargain on March 17, 2017, 06:29:59 AM

Well, as of today, it is not possible and I think the countries are not that intelligible enough to embrace bitcoin fully and I'm that they foresee the worst scenaeios and also the currencies in each of the country establish a deep root in their culture and also an identity of their nation.

In conclusion, bitcoin may be apart of the economical state of a country but it can never be embraced fully nor be more dominant over their own currency.

Exactly.Therefore, Bitcoin will be used as a world currency, not a national currency and when it becomes the world currency, more people will satisfy about it and it will help to deliver a much large amount of money oversea within the second

artows21

sr. member

Activity: 322

Merit: 250

Need created money cryptocurrencies is the problem. Such as fiat money created to satisfy human needs.
Before money, transactions between people and between countries were made with the exchange of products so as to meet the needs of all and to have self-sufficiency in goods.

So, financial needs the centralized monetary system could not cover made humans to think that they need another way to trade with each other. And like other currency systems has pros and cons such us cryptocurrency has their own strength and weakness.

equator

legendary

Activity: 1190

Merit: 1002

Quote from: Mr.grin on March 18, 2017, 04:53:31 AM

Quote from: bitbunnny on March 17, 2017, 02:52:08 PM

Maybe I'm wrong but I think that some banks and governments stopped considering Bitcoin as a threath but more as an opportunity to take their piece of cake for themselves and make the profit. I think they have realised it's too late to stop Bitcoin so that is better for them to join that train before it's too late.

Well, today bitcoin have become huge, and even the government will not be able to make bitcoin disappear. Well, bitcoin is threatening the country because bitcoin has no taxes. because of this, the government may see bitcoin as a threat.

who told bitcoin dont have taxes, the country which is accepting bitcoin have imposed tax on its uses and you have to show all details about trading and uses of bitcoins. If you are now showing details then you are doing illegal activity. And showing bitcoin in tax is good for bitcoin users and for bitcoin itself like this more shop owners will use bitcoin as it is getting legal status

Mr.grin

legendary

Activity: 1218

Merit: 1000

Quote from: bitbunnny on March 17, 2017, 02:52:08 PM

Maybe I'm wrong but I think that some banks and governments stopped considering Bitcoin as a threath but more as an opportunity to take their piece of cake for themselves and make the profit. I think they have realised it's too late to stop Bitcoin so that is better for them to join that train before it's too late.

Well, today bitcoin have become huge, and even the government will not be able to make bitcoin disappear. Well, bitcoin is threatening the country because bitcoin has no taxes. because of this, the government may see bitcoin as a threat.

deisik

legendary

Activity: 3514

Merit: 1280

English ⬄ Russian Translation Services

Quote from: tripplewarz on March 17, 2017, 03:46:47 PM

Quote from: bitbunnny on March 17, 2017, 02:52:08 PM

Maybe I'm wrong but I think that some banks and governments stopped considering Bitcoin as a threath but more as an opportunity to take their piece of cake for themselves and make the profit. I think they have realised it's too late to stop Bitcoin so that is better for them to join that train before it's too late.

In my opinion, banks have nothing to fear, but the authorities have something to lose, in case of greater popularity of bitcoin. They already do not get most of the taxes that bitcoin could have from users. After all, now nobody knows the income of bitcoins of users

But what difference does it make if any at all?

If you are just buying and selling bitcoins for fiat and keep accumulating profits, at most you will be reducing the amount of fiat in circulation (such an effect would be infinitesimal for obvious reasons but still). And in that case the government will just print more money as required by the real economy, and thereby your fiat profits will still get taxed by inflation in the end. So either way, you will have to pay some form of a tax. But if you try to inject your virtual profits into the real world, you will get taxed in full (and likely penalized as well). Someone will eventually come and knock at your door to ask you a few questions. For example, where all this money that you bought your new house with comes from

Jewell

hero member

Activity: 490

Merit: 500

Quote from: DoublerHunter on March 17, 2017, 08:31:16 AM

Quote from: SoulBargain on March 17, 2017, 06:29:59 AM

Well, as of today, it is not possible and I think the countries are not that intelligible enough to embrace bitcoin fully and I'm that they foresee the worst scenaeios and also the currencies in each of the country establish a deep root in their culture and also an identity of their nation.

In conclusion, bitcoin may be apart of the economical state of a country but it can never be embraced fully nor be more dominant over their own currency.

I think it is early to say that kind of statement that bitcoin cannot be embraced or accepted fully by the different nations in the world because it is always depend on how they look at bitcoin and what are their perspective in bitcoin. If bitcoin will continue to be good in shape and continue improving then there is no doubt that other nations will accept bitcoin fully.

yes currently so nations may not be interested in bitcoin, but i think wen all the other people will start using bitcoin then they will also start using bitcoin. so i think bitcoin is the need of every society and every country.

tripplewarz

full member

Activity: 164

Merit: 100

Quote from: bitbunnny on March 17, 2017, 02:52:08 PM

Maybe I'm wrong but I think that some banks and governments stopped considering Bitcoin as a threath but more as an opportunity to take their piece of cake for themselves and make the profit. I think they have realised it's too late to stop Bitcoin so that is better for them to join that train before it's too late.

In my opinion, banks have nothing to fear, but the authorities have something to lose, in case of greater popularity of bitcoin. They already do not get most of the taxes that bitcoin could have from users. After all, now nobody knows the income of bitcoins of users.

bitbunnny

legendary

Activity: 2912

Merit: 1068

WOLF.BET - Provably Fair Crypto Casino

Maybe I'm wrong but I think that some banks and governments stopped considering Bitcoin as a threath but more as an opportunity to take their piece of cake for themselves and make the profit. I think they have realised it's too late to stop Bitcoin so that is better for them to join that train before it's too late.

stergium

hero member

Activity: 655

Merit: 500

Quote from: Kabul on March 17, 2017, 11:48:46 AM

Quote from: SoulBargain on March 17, 2017, 06:29:59 AM

Well, as of today, it is not possible and I think the countries are not that intelligible enough to embrace bitcoin fully and I'm that they foresee the worst scenaeios and also the currencies in each of the country establish a deep root in their culture and also an identity of their nation.

In conclusion, bitcoin may be apart of the economical state of a country but it can never be embraced fully nor be more dominant over their own currency.

Exactly.Therefore, Bitcoin will be used as a world currency, not a national currency and when it becomes the world currency, more people will satisfy about it and it will help to deliver a much large amount of money oversea within the second

to me i think bitcoin is already using as world currency, because the users of bitcoins are present in all over the world. and that is the reason that we can say that bitcoin is universal currency.

K128kevin2

sr. member

Activity: 322

Merit: 250

Quote from: Harlot on March 17, 2017, 12:10:25 PM

Quote from: K128kevin2 on March 17, 2017, 11:57:53 AM

Quote from: mindrust on October 01, 2016, 03:52:50 AM

What if CIA behind this project? Would you still keep your money as bitcoins? Would you trust them? Do we know who the hell is Satoshi Nakamoto? I suure don't.

In my opinion it doesn't matter where the code came from so long as it's safe to use. The Bitcoin core code is heavily scrutinised and reviews, so anything nasty left in it by Satoshi/the CIA/whoever can be swiftly cleaned up or removed.

I don't think that CIA is behind the creation of Bitcoin, why? Because if it is than Donald Trump would not allow it or most certainly Barrack Obama as the president back then does not have any purpose or a particular goal in creating Bitcoin. Another point it is being use in online transactions in Silk Road where you buy your illegal drugs. Why will the government create an untraceable currency if they want to chase the criminals? It is obvious there is no government behind the creation of Bitcoin.

Yeah I don't think there's a government behind it, I was just replying to the OP.
Anyway, shouldn't be too dismissive as I think that Tor was originally a government project.

Harlot

hero member

Activity: 1806

Merit: 672

Quote from: K128kevin2 on March 17, 2017, 11:57:53 AM

Quote from: mindrust on October 01, 2016, 03:52:50 AM

What if CIA behind this project? Would you still keep your money as bitcoins? Would you trust them? Do we know who the hell is Satoshi Nakamoto? I suure don't.

In my opinion it doesn't matter where the code came from so long as it's safe to use. The Bitcoin core code is heavily scrutinised and reviews, so anything nasty left in it by Satoshi/the CIA/whoever can be swiftly cleaned up or removed.

I don't think that CIA is behind the creation of Bitcoin, why? Because if it is than Donald Trump would not allow it or most certainly Barrack Obama as the president back then does not have any purpose or a particular goal in creating Bitcoin. Another point it is being use in online transactions in Silk Road where you buy your illegal drugs. Why will the government create an untraceable currency if they want to chase the criminals? It is obvious there is no government behind the creation of Bitcoin.

K128kevin2

sr. member

Activity: 322

Merit: 250

Quote from: mindrust on October 01, 2016, 03:52:50 AM

What if CIA behind this project? Would you still keep your money as bitcoins? Would you trust them? Do we know who the hell is Satoshi Nakamoto? I suure don't.

In my opinion it doesn't matter where the code came from so long as it's safe to use. The Bitcoin core code is heavily scrutinised and reviews, so anything nasty left in it by Satoshi/the CIA/whoever can be swiftly cleaned up or removed.

Kabul

sr. member

Activity: 619

Merit: 250

Quote from: SoulBargain on March 17, 2017, 06:29:59 AM

Well, as of today, it is not possible and I think the countries are not that intelligible enough to embrace bitcoin fully and I'm that they foresee the worst scenaeios and also the currencies in each of the country establish a deep root in their culture and also an identity of their nation.

In conclusion, bitcoin may be apart of the economical state of a country but it can never be embraced fully nor be more dominant over their own currency.

Exactly.Therefore, Bitcoin will be used as a world currency, not a national currency and when it becomes the world currency, more people will satisfy about it and it will help to deliver a much large amount of money oversea within the second

DoublerHunter

hero member

Activity: 2590

Merit: 644

Quote from: SoulBargain on March 17, 2017, 06:29:59 AM

Well, as of today, it is not possible and I think the countries are not that intelligible enough to embrace bitcoin fully and I'm that they foresee the worst scenaeios and also the currencies in each of the country establish a deep root in their culture and also an identity of their nation.

In conclusion, bitcoin may be apart of the economical state of a country but it can never be embraced fully nor be more dominant over their own currency.

I think it is early to say that kind of statement that bitcoin cannot be embraced or accepted fully by the different nations in the world because it is always depend on how they look at bitcoin and what are their perspective in bitcoin. If bitcoin will continue to be good in shape and continue improving then there is no doubt that other nations will accept bitcoin fully.

SoulBargain

full member

Activity: 234

Merit: 100

Well, as of today, it is not possible and I think the countries are not that intelligible enough to embrace bitcoin fully and that they foresee the worst scenarios and also the currencies in each of the country establish a deep root in their culture and also an identity of their nation.

In conclusion, bitcoin may be apart of the economical state of a country but it can never be embraced fully nor be more dominant over their own currency.

TastyChillySauce00

legendary

Activity: 3010

Merit: 1028

Leading Crypto Sports Betting & Casino Platform

Quote from: betlord90 on March 17, 2017, 06:13:20 AM

Quote from: pawanjain on March 16, 2017, 01:30:21 PM

Quote from: meliodas on March 16, 2017, 01:21:42 PM

I would like to live in that world where we could pay with our crypto currency,
But it seems a long way to go before we could do that and also I think we could never get paper money out of this generation.

Yeah bro , it will take long time for us to reach at that peak where everyone understands well about the digital world and can fullfill Thier dreams in real ways .

In the long run it might happen but still there are pros and cons that we cant neglect. You are right that it will really took a very long time to be able to fully use bitcoin in which it will be hindered by the culture of a certain community, but who knows what tomorrow brings.

You're actually too far overthinking about what might happen and expect something which needs really a long time to be reached. About half of population in this planet still not connected to the internet and at the same time it mean that half of population don't even know what's internet and how to operate technologies.

betlord90

hero member

Activity: 630

Merit: 500

Quote from: pawanjain on March 16, 2017, 01:30:21 PM

Quote from: meliodas on March 16, 2017, 01:21:42 PM

I would like to live in that world where we could pay with our crypto currency,
But it seems a long way to go before we could do that and also I think we could never get paper money out of this generation.

Yeah bro , it will take long time for us to reach at that peak where everyone understands well about the digital world and can fullfill Thier dreams in real ways .

In the long run it might happen but still there are pros and cons that we cant neglect. You are right that it will really took a very long time to be able to fully use bitcoin in which it will be hindered by the culture of a certain community, but who knows what tomorrow brings.

Topic: The danger of the cyptocurrencies - page 5. (Read 45218 times)