#1
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Quote from: yasminshaikh on November 24, 2017, 08:21:01 PM

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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
~~

Original: https://www.investopedia.com/ask/answers/121515/bitcoin-legal-us.asp

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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. It exists only on the Internet, usually in a digital wallet, which is software that stores relevant information such as the private security key that enables transactions.
~~

#2
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Quote from: D3Dsec on April 02, 2018, 04:59:32 AM

Bitcoin 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.

Original: https://www.investopedia.com/ask/answers/100314/why-do-bitcoins-have-value.asp

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Bitcoin offers an efficient means of transferring money over the internet and is controlled by a decentralized network with a transparent set of rules, thus presenting an alternative to central bank controlled fiat money.
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Our first assumption is that bitcoin will derive its value both from its use as a medium of exchange and as a store of value. As a footnote to this assumption, it should be stated that bitcoin's utility as a store of value is dependent on its utility as a medium of exchange.

#3
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Quote from: babyshaun on May 23, 2018, 10:46:59 AM

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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.asp

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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.

#4
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https://bitcointalk.org/index.php?topic=2399748.msg24543593#msg24543593

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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.you can buy using bitcoin without exerting too much effort.

Original: https://www.investopedia.com/ask/answers/100314/what-are-advantages-paying-bitcoin.asp

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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.

#5
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Quote from: Yarsk on August 19, 2017, 08:07:21 AM

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.

~~~

Original: https://www.investopedia.com/ask/answers/100314/what-are-advantages-paying-bitcoin.asp

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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.

#6
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Quote from: george888055 on March 30, 2018, 03:33:51 PM

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. For long terms nothing to worry about it's only first half of the year.

Original: https://www.investopedia.com/ask/answers/100314/what-are-advantages-paying-bitcoin.asp

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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.

#7
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Post: https://bitcointalk.org/index.php?topic=2992678.msg33595197#msg33595197

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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. 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.

Original: https://www.investopedia.com/ask/answers/100314/what-are-advantages-paying-bitcoin.asp

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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.

#8
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Post: https://bitcointalk.org/index.php?topic=1607225.msg29277849#msg29277849

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Absolutely 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.asp

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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.

#9
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Quote from: suchi2591 on June 28, 2018, 05:38:08 AM

One of the most widely publicized benefits of Bitcoin is that governments, banks and other financial intermediaries have no way to interrupt user transactions.

Original: https://www.investopedia.com/ask/answers/100314/what-are-advantages-paying-bitcoin.asp

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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.

#10
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Post: https://bitcointalk.org/index.php?topic=3236144.msg40435549#msg40435549

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Favorite 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

Original: https://www.investopedia.com/ask/answers/100314/what-are-advantages-paying-bitcoin.asp

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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.

#11
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Quote from: liseff3 on November 16, 2017, 05:38:42 PM

Bitcoin 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.

Original: https://www.investopedia.com/ask/answers/100314/what-are-advantages-paying-bitcoin.asp

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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.

#12
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Quote from: ajiejot on October 02, 2017, 11:52:20 PM

Bitcoin 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.

Original: https://www.investopedia.com/ask/answers/100314/what-are-advantages-paying-bitcoin.asp

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Like with many online payment systems, Bitcoin users can pay for their coins anywhere they have Internet access.

#13
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Quote from: giancarlo01 on June 26, 2018, 03:09:16 AM

In 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.

Original: https://www.investopedia.com/ask/answers/100314/what-are-advantages-paying-bitcoin.asp

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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.

#14
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Post: https://bitcointalk.org/index.php?topic=3187563.msg34292891#msg34292891

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Beyond 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

Original: https://www.investopedia.com/articles/investing/032615/how-bitcoin-can-change-world.asp

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Beyond its anonymous nature, bitcoin has the potential to change the way we bank, make transactions, and view money. Lets examine bitcoins potential and its challenges.

#15
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Quote from: albertcrypto110 on January 29, 2018, 06:45:53 AM

As 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.

Original: https://www.investopedia.com/articles/investing/032615/how-bitcoin-can-change-world.asp

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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).

#16
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Quote from: spiderm4n15 on January 29, 2018, 06:51:11 AM

yes 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)

Original: https://www.investopedia.com/articles/investing/032615/how-bitcoin-can-change-world.asp

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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).

#17
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Post: https://bitcointalk.org/index.php?topic=7850.msg27034760#msg27034760

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Taxes 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.

Original: https://www.investopedia.com/articles/investing/040515/are-there-taxes-bitcoins.asp

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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 mininga process wherein high-powered computers, on a distributed network, use an open source mathematical formula to produce bitcoins.

#18
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Quote from: iram1011 on July 18, 2017, 01:15:17 AM

Most 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.

Original: https://www.investopedia.com/articles/investing/040515/are-there-taxes-bitcoins.asp

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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. Bitcoins are very volatile and there are huge swings in prices in a single trading day. The IRS encourages consistency in your reporting; if you use the day's high price for purchases, you should use the same for sales as well. Also, frequent traders and investors could use "first in, first out" (FIFO) or "last in, first out" (LIFO) accounting techniques to reduce tax obligations. (Refer to the Bitcoin Tax Guide for a detailed explanation of issues in Bitcoin Taxation and reporting.)

#19
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Quote from: screwUdriver on March 14, 2018, 10:50:34 AM

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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.

Original: https://www.investopedia.com/articles/forex/041515/countries-where-bitcoin-legal-illegal.asp

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The United States has taken a generally positive stance toward Bitcoin
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Canada considers Bitcoin exchanges to be money service businesses.
~~~

#20
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Post: https://bitcointalk.org/index.php?topic=3368836.msg42338996#msg42338996

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Aside 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".

Original: https://www.investopedia.com/articles/investing/052014/why-bitcoins-value-so-volatile.asp

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Price fluctuations in the Bitcoin spot rate on the Bitcoin exchanges is driven by many factors. Volatility is measured in traditional markets by the Volatility Index
~~~
1. Rate of adoption is hampered by bad press

#21
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Quote from: Poppy5555 on November 27, 2017, 06:56:40 PM

Hi 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!

Original: https://www.investopedia.com/terms/a/altcoin.asp

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Altcoins are the alternative cryptocurrencies launched after the success of Bitcoin. Generally, they project themselves as better substitutes to Bitcoin.

#22
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Quote from: uchiikina14 on May 11, 2018, 01:04:37 AM

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.
~~~

Original: https://www.investopedia.com/terms/a/altcoin.asp

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Altcoins are the alternative cryptocurrencies launched after the success of Bitcoin. Generally, they project themselves as better substitutes to Bitcoin.

#23
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Quote from: Honest Tim on November 04, 2017, 07:38:03 AM

I 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.

Original: https://www.investopedia.com/terms/a/altcoin.asp

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Altcoins are the alternative cryptocurrencies launched after the success of Bitcoin. Generally, they project themselves as better substitutes to Bitcoin.

#24
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Quote from: nick_nick on November 24, 2017, 02:21:33 PM

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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

Original: https://www.investopedia.com/terms/a/altcoin.asp

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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 advantage

#25
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Quote from: ankit05 on November 07, 2017, 08:31:39 AM

Altcoins 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.

Original: https://www.investopedia.com/terms/a/altcoin.asp

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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 advantage

#26
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Quote from: blackmagician on October 15, 2016, 11:29:17 AM

Heres 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.

Original: https://www.investopedia.com/terms/a/altcoin.asp

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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 advantage