Bitcoins

paddyrg

Satoshi wrote: »

Are you breaking any laws if you provide a service or sell something and say you will only accept bitcoin?

could you rent a flat out to someone but only accept bitcoins?

Yes you could. Taxes would still be owed though, and they're only payable in the national currency though.

Problem is your rent would effectively double and halve and if it all went belly up you'd be stuck in a rental contract earning 50p/week but paying hundreds of pounds mortgage.

Satoshi

paddyrg wrote: »

Yes you could. Taxes would still be owed though, and they're only payable in the national currency though.

Problem is your rent would effectively double and halve and if it all went belly up you'd be stuck in a rental contract earning 50p/week but paying hundreds of pounds mortgage.

no you set the rent at the same in fiat every month and accept in bitcoins at what ever the fluctuations are. All currencies are moving from each other.

paddyrg

Satoshi wrote: »

no you set the rent at the same in fiat every month and accept in bitcoins at what ever the fluctuations are. All currencies are moving from each other.

In which case it's a GBP rent, all you're achieving is to make it a PITA to pay it. Take it in GBP, buy your own bitcoins or whatever you want with it.

Satoshi

all gone quiet on the bitcoin front.

I am having all sorts of problems with https://www.localbitcoins.com where is a better place for trading crypto?

mmedia

Satoshi wrote: »

all gone quiet on the bitcoin front.

I am having all sorts of problems with https://www.localbitcoins.com where is a better place for trading crypto?

bitbargain is good for buying but a pain for selling.

mmedia

Im waiting/hoping to buy the rest of my BTC as soon as it hits around £400, then im holding for the long term.

padington

Satoshi wrote: »

all gone quiet on the bitcoin front.

I am having all sorts of problems with https://www.localbitcoins.com where is a better place for trading crypto?

Kraken.com makes life very easy and you can trade lite and name coins as well.

BigBoss

Is it still worth getting into this?

JohnRo

It all depends on your motivation and reasons, if you're just looking to get rich then you might, but you might just as easily get badly burned.

If governments don't make a pact with their money printing paymasters to try and shut it down in a coordinated way then bitcoin will probably get into you at some point in the future, whether you want it to or not.

The solution to the btc phenomenon for the crooks in charge is clearly, as with everything else that doesn't bow subserviently, to declare the blockchain a terrorist organisation then any pretence for the rule of law can be dispensed with and a proper turf war engaged. I'm surprised this hasn't happened already to be honest.

Satoshi

BigBoss wrote: »

Is it still worth getting into this?

Depends what you mean by this? So-called "cryptocurrencies?" But unbacked crypto's can be created in a couple of days by anyone with a PC. There is no limit to how many unbacked crypto's like bitcoin can be added to the worlds supply. If they are unbacked they will alays go to their intrinsic value of nothing.
As soon as a monetary precious metal backed crypto currency with all the advantages of unbacked crypto's is released without the disadvantages that it can't go to nothing like all unbacked currencies always do, this backed crypto will be the way of choice to transact for the world. It would be possible to transact either digitally like bitcoin or by physically handing over grams of the monetary precious metal, either gold or silver. You would also need to be able to withdraw digital grams for real grams, or deposit them so that you can digitally pay for things online.
My prediction is that this will be what seriously replaces all the unbacked currencies of the world. But competition in currencies is a good thing and let the free market work out if people want to put their trust and confidence in unbacked or backed forms of monetary systems. The answer is of course easy. As to when that is harder, I do not pretend to know when just that the same monetary cycle going from money (gold and silver) to currency (anything else used to transact) and then back again will continue to repeat, as it always has done.