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JPK0007

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  1. JPK0007
    No, I was not talking about any major e-commerce site in my previous post. I was on a website which was recommended to me by some of my online friends. The website used to accept Bitcoin as a mode of payment to sell some of its products and services at that time. As far as the acceptance of Bitcoin by any major e-commerce site is concerned, I guess it will definitely become a big news whenever it happens.
  2. JPK0007
    That is very true. Storing your bitcoins offline is one of the best ways to keep them secure and safe. This is one of the necessary precaution that one must surely take especially if the person has a large amount of Bitcoins with him. Loosing your Bitcoins to a security breach will become the worst nightmare for people having higher amounts invested in them.
  3. JPK0007
    Yes, I think that Bitcoin transactions are taxed in all the countries around the World. Bitcoin is considered to be an asset like any other physical asset like real estate etc. The profits made in the sale of Bitcoins is also taxed. I think that the short term and long term gains may also be considered when you are holding Bitcoins for a longer duration of time. Each country has different rates of taxation and people are taxed according to the provisions of taxations in their country.
  4. JPK0007
    Bitcoin is one of the most popular forms of Cryptocurrencies available in the Market and is widely accepted throughout the World. Recent days have seen the value of Bitcoins dropping significantly and that is one of major concern amongst all Bitcoin investors these days. However, Bitcoins and all other forms of cryptocurrencies face constant security concerns that are related to cyber attacks and hacking. The crypto wallets are always very vulnerable to hacking attacks. I think a robust mechanism needs to be devised to make Bitcoins more secure and that will reduce the vulnerability associated with it. What are your views in this regard?
  5. JPK0007
    Well, I learned about Bitcoins on a shopping site online which was accepting payments in the form of Bitcoins at that time for overseas customers. I researched about Bitcoins online after that and then got acquainted about it. I don't remember the exact date or year but this was some years back. Since then the popularity and acceptance of Bitcoin have increased a lot and today everyone knows about bitcoins.
  6. JPK0007
    Well, Bitcoin transactions are not considered to be legal in many countries including India. There have been cases in India where people have been arrested for starting an ATM for the exchange of various cryptocurrencies into currency. However, this case of people been arrested for exchanging Bitcoins to currency in the US is something that I have not heard before. I think the arrests may also be related to some illegal activity for which the Bitcoins may have been used.
  7. JPK0007
    Well i dont think that there can be another Crypto which can match the popularity of Bitcoin in the near future. Many people only know Bitcoin when it comes to Cryptocurrency. Most of the people are not aware that there are several other alternatives to Bitcoin. I think that Bitcoin has been one of the most reliable cryptocurrencies available in the market and it has survived inspite of all the odds till now.
  8. JPK0007
    Yes i think that Cryptocurrencies should be taxed and i think they are taxed by most of the countries around the World. Basically anything that you own is considered to be an asset , therefore are all sort of cryptocurrencies like Bitcoin are the assets that you own. The profit that you make by sale of Bitcoins is also taxable.When you are holding a cryptocurrency then the short term gains and long term gains are also considered for taxation.
  9. JPK0007
    Well ideally i would like the Bitcoin value to stabilise now after the recent fall in its value but there are many reasons why there is a speculation that Bitcoin could very well rech the $ 1000 mark in the coming days. Many countries throughout the World have brought in stricter regulations in regard of cryptocurrency use.There is also the problem of Bitcoin and other cryptocurrencies been misused by rogue organizations for illegal purposes.The volatility and the downward trend of Bitcoin value and all these problems can very well bring the value of Bitcoin to $1000 or even below that.
  10. JPK0007
    Well if the Bitcoin crashes drastically in the coming days then it will be a great dissappointment for all Bitcoin investors in the World. However i think that such a thing wont happen in the near future. Eventhough the value of Bitcoin has come down considerably i dont think it will crash down further more. I think that i will invest some money to get Bitcoins if they crash suddenly and then hope for there quick recovery which is bound to happen after a crash.
  11. JPK0007
    Well i think the biggest dangers in regard to the cryptocurrency transactions have to be the security and fraud issues. All these transactions are unregulated and there is always the chance of getting involved in a fraudulent exchange. People will open an account at such exchanges, pay for there desired crypto but the fraudsters will steal there money and they will never recieve there desired crypto from them. Also there can be a possibility of loosing your Bitcoins when an exchange with your wallet gets hacked.
  12. JPK0007
    Well I would say that i have invested a very small amount in Bitcoin in the past through one of my friends. However,lot of my friends who have invested considerable amount in Bitcoin have been very anxious for the last couple of days. My Christmas wish for Bitcoin will be to recover from the current volatility and regain its past value. Although there is a slight recovery in the value currently, experts are not sure about future trend and some feel that it may fall down again after some time.
  13. JPK0007
    Bitcoin is a cryptocurrency but it cannot substitute the fiat currency, given the huge fluctuation in its value and the inherent risk that comes due to the volatility. I think that in the current scenario Bitcoin can be termed as an asset but not a currency. However, you never know that in the future, given its ever-increasing popularity all throughout the world it can take place as an accepted form of currency.
  14. JPK0007
    Well, I think this will be the best time for new investors who have never invested in cryptocurrency before to invest in Bitcoins. I am sure that the value of the BItcoins is bound to increase in the coming weeks and people who are able to invest now can make considerable profits. However investing heavily in Bitcoins at this juncture can be a little risky, given the volatility of its value right now.
  15. JPK0007
    Yes, I think that most of the investors around the World are slightly disappointed by Bitcoin value in the current scenario. I think that there is also a little shock along with disappointment as it was not expected by the investors. However, I think that this is bound to be a passing phase and Bitcoin and other cryptocurrencies will surely recover and still continue to be one of the most popular options for investment.
  16. JPK0007
    Well, in spite of the recent fall in the price of Bitcoin, I don't think there is any lack of enthusiasm or interest in the investors toward Bitcoin as an investment option. The early investors have undoubtedly made huge profits on their investments in the past. Whether one will be able to get the same kinds of returns in the future is something which looks difficult but is not completely impossible. However, I don't think that there will be a decline in the amount of investment in Bitcoins in the near future.
  17. JPK0007
    Well, i think that Banks will have to eventually recognize and approve Bitcoin and allow Bitcoin transactions. However they will have to work out the proper mechanism which takes into account the high volatility in the value of any cryptocurrency. I think there are some countries in the World who do recognize Bitcoin transactions but i am not sure whether the banks in those countries do allow the transactions in Bitcoin.
  18. JPK0007
    Well, Bitcoin is certainly one of the most poular cryptocurrency available in the market. People who have invested heavily in bitcoins in the past have made huge profits on there investments. Bitcoin is one of the most reliable cryptocurrencies and does have a proven track record. However even Bitcoin transactions are still considered illegal in some countries, but i am sure this will change in the near future due to the ever increasing popularity of Bitcoins all over the World.
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