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Anyone who is involved in the "bitcoin community" has a vested interest in seeing the price increase. You're never going to get critical or even neutral inform
by dublinben 10y ago
Anyone who is involved in the "bitcoin community" has a vested interest in seeing the price increase. You're never going to get critical or even neutral information from someone with such an obvious conflict of interest.
- hkmurakami 10y agoThis is what I don't really get. If you want BTC to make it as a currently, you shouldn't want it to gain value in such a sudden way. I guess the fact that they all have a position book makes that irony clear to me.
- mirimir 10y agoYes! This! For actual, practical use, you want price stability. Bitcoin supply grows steadily at decreasing rate. So the system is somewhat deflationary, by design. But the bubbles have been caused by speculation, and outright fraud. I've read that Mt Gox (or someone who compromised it) caused the bubbles in 2013-2014.
- wmf 10y agoWho wouldn't want to make money simply by having money? Of course it has to end one day.
- imaginenore 10y agoWould you rather see your store of value increase in value or get devalued? The beauty of Bitcoin is that it behaves like a successful stock, but also as a successful currency.
- AtheistOfFail 10y agoThe problem is speculation. Since it's an "open currency", the price is set by the market. If every exchange says $1000, then you won't want to buy my Bitcoin for $1200. Supply and demand can cause issues. For example, Bitcoin rose about 15% when Donald J Trump was elected since he said he wanted to tax remittances. Guess what? You can't tax something that's not controlled by the US government.
- rspeer 10y ago> Guess what? You can't tax something that's not controlled by the US government. Uh... you might want to be a little less brazen and loud about your tax evasion.
- AtheistOfFail 10y agoTax evasion is when you make a profit after selling your Bitcoins and don't report it. I'm a good little US Citizen that always pays his taxes.
- petre 10y agoOf course you can. You can tax it at the exchange, when it becomes something controlled by the US gov't. And you can tax companies selling products or services for BTC.
- AtheistOfFail 10y agoYou can tax Bitcoin for the US in an Mexican exchange?
- petre 10y agoNo, but Mexico can tax it for Mexico. And then there are international agreements. Any state would love to tax anything that moves and bitcoins are no exception.
- AtheistOfFail 10y agoPerfectly fair.
- AtheistOfFail 10y agoUnfortunately, you can't tax against a commodity, it's not currency. So, it's basically the same as trading Oil or any other basic commodity.