Cryptocurrency

[Jurgens Smit]

Aah okay, so if I understand correctly then, once you have a Bitcoin (whatever a bitcoin is) you can / have to trade (sell) this Bitcoin for real dollars? (ie) That is Dollars that I can take to McDonald's and buy a burger and shake or put gas in my car etc? 

...

 

Correct

https://www.luno.com/blog/en/post/how-bitcoin-price-determined

 

Certain things make the value take a knock (ex china blocking all CC trade made bitcoin fall from $5500 to $3100) but because it is anonymous, and unregulated (or anonymously regulated) it gains traction again easily.

 

Current btc value is 4136 USD

 

I am also interested but dont know enough...i saw that PNP is going to start accepting bitcoin as payment options at tills:

 

Was only a trial, they won't be implementing it in the near future. AFAIK Takealot does accept though.

 

 

The main challenge is regulating it, as no one owns the currency, like the SARB owns the ZAR.

 

Problem is with most people ethics and morals regarding this. Because it cannot be tracked at all almost all online dark web transactions are done in CC. For a lot of people they see this as indirectly you are supporting whatever crimes are being committed there. This is also one of the biggest reasons the Governments want to crack down on this, bc no longer can currency serial numbers be traced.

 

I put 30k on red and made it back in 30 seconds..........

 

 

 

.

 

Not sure what your point is?

 

It's not gambling if you do proper research. I don't expect this to be a get rich quick scheme, and it's working well enough for me now to keep my lifestyle the way I like it.

[Jurgens Smit]

Mining Litecoin and not BTC? 

 

btc is long term, best gain over a year period, Dash is giving me the best short term value.

 

Not really looked into litecoin yet, the miners weren't available in the batch I ordered from. If predictions and growth looks promising for a while still I may look at it, but for now my setup is doing well enough

Edited September 28, 2017 by Jurgens Smit

[Jurgens Smit]

you and me both bru'.

 

All the toppies all like huh?

 

 

i hit  translate and google was still wtfffff

 

[pe3nguin]

Declaring all these cryptocurrency gains to the Commissioner one hopes

[Jurgens Smit]

Declaring all these cryptocurrency gains to the Commissioner one hopes

 

Of course yes

[LazyTrailRider]

Declaring all these cryptocurrency gains to the Commissioner one hopes

 

Not always a simple thing. Some people have wallets belonging to entities in multiple countries...

[pe3nguin]

Not always a simple thing. Some people have wallets belonging to entities in multiple countries...

Jurgens is a South African tax resident and is required to declare income from worldwide sources. 

[LazyTrailRider]

Jurgens is a South African tax resident and is required to declare income from worldwide sources.

Correct. Note however that I used the word "entities".

[LazyTrailRider]

https://fee.org/articles/imf-head-predicts-the-end-of-banking-and-the-triumph-of-cryptocurrency

[CMK]

wow 83K for one bitcoin

[Spoke101]

wow 83K for one bitcoin

was at 89k on Saturday.

[DIPSLICK]

CLEARING MY SAVINGS ARE IN THE WRONG PLACES

[CMK]

savings , what savings? I only have miners

[DIPSLICK]

savings , what savings? I only have miners

work like a miner, savings represent my job

[b-rad]

And in July 2010 1 Bitcoin cost a mere $0.08...who purchased a few then? Time to confess

Edited October 25, 2017 by b-rad

[DIPSLICK]

And in July 2010 1 Bitcoin cost a mere $0.08...who purchased a few then? Time to confess

in everyone of my dreams I wish I threw 500k into it

 

that can be said for a lot of things I suppose