Topic: why I'm not believing in bitcoin as currency - page 5. (Read 687 times)

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!

why can not you trust me with bitcoin ?, if i see you definitely use this bitcoin investment the wrong way, and surely you are too eager too high to get profit. dibitcoin not circulated like that my friend, dibitcoin must always with patience, there are steps that we must follow and can not be violated. just take the lesson, do not you directly do not believe in this bitcoin, because in my opinion, from this bitcoin that will change our economic life if we do it right. a lot of lessons that we can get from this bitcoin, so most importantly patience to pursue what we want from this bitcoin. think positive my friend.

To address two of your major points, fees and adoption.

We have known that Bitcoin has a limited number of transactions it can handle per second, which is why there have been numerous forks claiming to solve the issue, and even the segwit soft fork to pave the way for the second layer solutions. Bitcoin is still evolving, it will hit a wall every now and then, and it will be overcome. The fees have massively dropped due to segwit adoption, and LN development is underway and being tested as we speak.

Worldwide adoption: Well bitcoin is a new currency, do you really expect worldwide adoption within less than a decade? Be realistic.

Taxes: Do you really expect worldwide adoption, no bans, and evasion of taxes? What government will stand by and allow that? People complain about taxes, but believe me you don't want to live in a world where community services are not provided as there is no tax system.

i believe in the blockchain technology without any doubt a specially when Namecoin was just launched and was
really doing something useful with blockchain besides money, the DNS chain really changed my thinking about the blockchain

Part of the problem is the limited supply. When a currency is deflationary, people hoard it, they don't spend.

I'm pretty sure another cryptocurrency will end up being the one used everywhere, while bitcoin will be digital gold.

ok, you might have some reason, but I also have my reasons to believe in Bitcoin and the blockchain.

all have different reasons to believe, and if you feel Bitcoin is no longer so, then by all means make your way out. I still believe in Bitcoin as a currency. It's still in its early stages as far as technology goes, and improvements like Lightning Network will I still trust in Bitcoin as a currency. It's still in its early stages as far as technology goes, and improvements like Lightning Network will make it more and more feasible.

Yes, I agree with you, that we are here because of the condition of bitcoin, altcoin becomes stable due to bitcoin, stable market conditions due to bitcoin. because bitcoin regulates altcoin and the market.

so in my opinion, it is not good if we think negative about bitcoin. Bitcoin has helped our economy. I realize that bitcoin has its drawbacks, but positive thinking will eliminate the weakness of the bitcon.

Where have you been lately when bitcoin fees dropped significantly? Also, are you even aware about the on-going developments on LN? If you aren't then I do know where you're coming from thinking that the developments about bitcoin are stagnant and no such improvements are being made in the network. If you fail to understand that development takes time and resources, then you fail to see the good things behind some setbacks and that means bitcoin is not for you. I've invested so much into crypto, burned a few times but still kept on investing and here I am, making more money than what I do in my day job.


So I guess you are just one of those people who demand a lot on something yet haven't contributed even a single thing to make matters easier.

Even if you mined your bitcoin with your own PC before and you gained something from it, it is still subject to taxes no matter how you look at it though it is still highly dependent on your government whether they will tax bitcoin or not. Also, it is not bitcoin's fault to have less merchants going in with the bitcoin train; it is their decision not to meddle with bitcoin and integrate it in their business.

Again, have you tried to send bitcoins lately? The fees have dropped significantly and confirmation times became faster compared to the previous months.

And no, bitcoin isn't meant to be a world currency; it can be used across borders, yes, but there's no way that BTC is supposed to replace the world's leading currency, only exist side-by-side with them.

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 topic is from veterans like you OP but base on your post i think you experience bad in crypto and it turn you to not believe anymore in digital currency but the best for you to do or to see what can bitcoin brings to you and not the bad things here in crypto,I also experience not really well in my investing here but i still continue in crypto because even we can lose here the chance to earn is really big so i think there's no need for negative and think positive always like start where you can earn here.

So maybe someone who does not believe in bitcoin because they do not know how to earn it or they're scams already and have lost the bitcoin they earned. Actually, if he learns how to earn a bitcoin he will definitely love it and it will be very happy he will always be playing bitcoin.

that is true, and I agree that in 2015 hopes were very high for bitcoin to be used to pay for services, and that it is currently harder than ever before (fees are radiculuos, maybe not at this particular moment, but a month ago they were like 20 USD fee). My point is that it is too early to say that bitcoin failed. I still believe that with the introduction of new technologies and infrastructure what is currently seen as impossible will be possible and even easy in the future: fee level will drop to fractions of cents... It will require bitcoin to adapt, and lack of that adaptation and lack of will to adapt is the main danger I am seeing at present.

I don't believe in as a digital cash but I believe in as a store of value, it is actually not a store of value, but you may use it as a store of value. But it will not fail because of other tokens' stupidity.

I didn't believe in Bitcoin as a global currency and I do not. Why? Because each time you are buying an ice-cream the merchant MUST pay taxes. Because we are still living in a world splited by countries with thier own politics, economy, interests and so on. And if a government doesn't control the currency used in its country that means that there is no government in this country.

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

this exactly what I trying to say,

if people continue thread crypto as an investment and not "peer 2 peer cash" or money
we losing the whole point here and with time more and more people doing this!

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

today only one:

"should I invest or not?"

Main reason why you get used into bitcoin, because you want to invest for you to get rich and believing that everything is good and normal.

Well, we don't blame people for not believing in it, they maybe not the type of person who are being skeptical of it as an investment since no one knows what will happen in the future, no guarantees and no assurance so they are just being conservative with their money.

But for me, you are losing some part of your life since you are failing to explore things out, you are too lazy to see whats in it and why a lot of people are believing it and why some are becoming rich right? Its really difficult for a lot of people to see the advantage of it, it took time but when we really want to change our way of life they we need to invest at least some of our time.

the point is people not looking at bitcoin as MONEY!!! but only a way to invest!

It's fascinating to see that we have an OP who has raised some very important concerns on the very essense of bitcoin only for some other forum members to come along and shoot him down without even providing any real counter arguments. Just shows what lack of understanding there is.

Isn't it true that bitcoin has become more a store of wealth than a currency that it was intended for? If you don't appreciate this then you are not living in the real world. It doesn't mean bitcoin does not have a use or that it does not have value, it just means the use of bitcoin has changed. Some people just don't want to understand.

that is how PoW and because of it bitcoin works. with more adoption more people started mining, difficulty went up, new hardware called ASIC was produced to mine it and made things harder to mine with GPU/CPU.
that is the design from day 1!

that is your guess not a fact.

no it never was.
the idea was to create a "peer to peer digital cash". in other words a decentralized payment system that is resistant to any kind of censorship. and bitcoin still has that going.

as i said above the only thing that is changed is the fees and hopefully that won't last long either.

that is also by design.
the fees went up too high to an unacceptable levels because the adoption grew while we didn't have any block size increase and nobody was using the capacity increase solution which is SegWit.
but as i said above this is hopefully going to be over soon as the SegWit adoption grows more and also eventually with second layer solution which is the only way to move forward.