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Q: Who uses bitcoin or has used it?
Bitcoin
Who has used Bitcoin in China? what would be the benefits of using it in China?
7 years 5 weeks ago in Money & Banking - China
I knew a guy at work a few years ago was looking at BC when it was pretty low, and wondering if he should buy... I bet he's kicking himself now! (this was back when it was in the hundreds!)
Bitcoin is like fire... it's what you do with it that means something - not the thing itself.
The best option is cash. Second best option is..??? BC? (if you don't want governments etc watching every single move you make)
wud nevr use it fr 2 reasons
1. highly volatile
2. legality issues
https://cointelegraph.com/news/bitcoin-to-become-just-like-money-in-australia-july-1
By
William SubergBitcoin To Become ‘Just Like Money’ In Australia July 1
Australia has officially confirmed it will treat Bitcoin “just like money” from this year and it will no longer be subject to double taxation.
In its budget summary for 2017-18, the government states that as part of its plan to “make it easier” for digital currency businesses to operate in the country. It will ensure that nowhere in the supply chain is general sales tax (GST) paid more than once.
“The Government will make it easier for new innovative digital currency businesses to operate in Australia,” the summary reads.
“From 1 July 2017, purchases of digital currency will no longer be subject to the GST, allowing digital currencies to be treated just like money for GST purposes. Currently, consumers who use digital currencies can effectively bear GST twice: once on the purchase of the digital currency and once again on its use in exchange for other goods and services subject to the GST.”
Australia has had a troubled relationship with cryptocurrency regulation until recently. The decision to allow double taxation originally caused several well-known operators to quit the country back in 2014, while innovation has subsequently lagged behind markets in which businesses have enjoyed greater freedom.
Innovative fintech deals involving Blockchain have surfaced this year, however, and the tone of the budget extract points to a desire to change Australia’s environment.
“Innovation will drive productivity growth in Australia,” it continues.
“The Government is committed to establishing Australia as a leading global financial technology (FinTech) hub and is announcing a new package that aims to position our local fintech industry as a world leader.”
Meanwhile, local business optimism is also increasing.
Ransomware virus plagues 75k computers across 99 countries
A ransomware virus is spreading aggressively around the globe, with over 75,000 computers in 99 countries having been targeted, according to the latest data. The virus infects computer files and then demands bitcoins to unblock them.
icnif77:
http://www.zerohedge.com/news/2017-05-13/24-hours-later-unprecedented-fallout-first-global-coordinated-ransomware-attack
24 hours after it first emerged, it has been called the first global, coordinated ransomware attack using hacking tools developed by the NSA, crippling over a dozen hospitals across the UK, mass transit around Europe, car factories in France and the UK, universities in China, corporations in the US, banks in Russia and countless other mission-critical businesses and infrastructure.
According to experts, "this could be one of the worst-ever recorded attacks of its kind." The security researcher who tweets and blogs as MalwareTech told The Intercept, “I’ve never seen anything like this with ransomware,” and “the last worm of this degree I can remember is Conficker.” Conficker was a notorious Windows worm first spotted in 2008; it went on to infect over 9 million computers in nearly 200 countries.
The fallout, according to cyber-specialists, has been "unprecedented": it has left unprepared governments, companies and security experts from China to the United Kingdom on Saturday reeling, and racing to contain the damage from the audacious cyberattack that spread quickly across the globe, raising fears that people would not be able to meet ransom demands before their data are destroyed.
As reported yesterday, the global efforts come less than a day after malicious software, transmitted via email and stolen from the National Security Agency, exposed vulnerabilities in computer systems in almost 100 countries in one of the largest “ransomware” attacks on record. The cyberattackers took over the computers, encrypted the information on them and then demanded payment of $300 or more from users in the form of bitcoin to unlock the devices.
The ransomware was subsequently identified as a new variant of "WannaCry" that had the ability to automatically spread across large networks by exploiting a known bug in Microsoft's Windows operating system.
Bitcoin is a way for rotten and corrupt kleptocratic asset stripping oxygen thieves from third world shit holes to launder their ill-gotten gains into civilized countries' housing markets to inflate the cost of living of people who're exponentially more valuable and whose work has actual social utility which is the whole purpose behind getting out of bed and going out into the community on a daily basis.
In China the former class are called the "successful people" and the latter are called losers. This outlook results in the gentrification of communities which were once wonderful places to live due to the social mobility and quality of life they had before the dirty money came pissing in and drove up all the accommodation costs and drove down the quality of the universities in order to profit from selling degrees to people who have the English skills of a nine year old.
The solution to this is quite simple: people who work in productive areas such as nurses, teachers, sanitation workers, engineers, mechanics, plumbers, gas-fitters, police officers, firefighters and paramedics can all move to a cheaper and smaller community and leave the tax lawyers, accountants, bank clerks, HR and marketing people behind and see how long the city holds up. My guess is that they'll be bartering acorns for handjobs in a big pile of effluent and fish heads within two weeks.
icnif77:
Market traders made a tone of dough with bit coin .... 'buy&sell' 
, or buy bit in China (capital outflow control) and move to Ozz and change it to RE. Very handy!
loudvillager:
Yes. Then Sydney has one in seven houses left vacant and people in China are going around wondering where all this "anti Asian sentiment" is coming from.
If they want to turn communities into shit holes, they should stay here. Hell, it's not like any of them could ever hold down a job in a civilized country where people tell the truth, politicians don't do business and the rule of law is applied universally and equally to all citizens.
I heard Malcolm Turnbull's son is married to a woman from China. It provides the best possible explanation for why he has such idiotic immigration policies. They'll be making a Kushneresque fortune on the side selling property rights to the Chinese in the same way mediocre foreign brands can sell as luxuries here because nothing that's done here is done properly or is worth buying. When the bubbles pop in Sydney and Melbourne there's going to be a huge rush to flog off those hedging homes. I just hope it happens before the state owned building companies erect too many hideous high rises all over Sydney, Melbourne and Brisbane.
There's nothing worse than large amounts of capital in the hands of worthless shit heads.
https://www.rt.com/business/387966-china-bitcoin-rules-trading/
Beijing is expected to issue new rules for bitcoin trading in China next month as the cryptocurrency’s price on the country’s trading platforms keeps hitting new highs.
Read more
Beijing threatens to shut down bitcoin exchanges
According to a Beijing-based media company Caixin citing anonymous sources; the People’s Bank of China (PBOC) is considering two regulations on the management of bitcoin trading platforms to prevent them from becoming money laundering sites.
Analysts say the new measures may apply to foreign exchange and financing activities. Bitcoin traders may also be required to register with their real names.
The regulator recently inspected domestic trading platforms after warning they risk being closed if found violating the country’s currency regulations. It is attempting to curb capital outflow following fears of continued weakness in the domestic currency.
“There needs to be a clear bottom line for the management of bitcoin trading platforms and websites. A blacklist should also be set up. Activities such as trading or financing on margin and market measures such as commission-free trading must be banned,” said Zhou Xuedong, Operations Director at the PBOC.
China accounts for about 90 percent of all bitcoin trading on exchanges. The country has strict capital controls, which makes it difficult for Chinese citizens to convert the yuan into foreign currency and limits the amount of cash investors can move abroad.
Does anybody trading Bit ....? 
Bitcoin Soars Above $1950 (Despite Losing Crypto Dominance)
Despite Bitcoin dropping below 50% of total cryptocurrency market cap for the first time, the dominant virtual currency has continued to soar this week, breaking above $1950 this morning (as the dollar drifts lower).
I like all your comments above, buTT ....
Bitcoin Explodes Above $2400 After China Downgrade, Scaling Agreement Reached
Following comments from DoubleLine's Jeff Gundlach tieing the surge in virtual currencies to the demise of China (right before that nation is downgraded), Bitcoin surged overnight, breaking above $2400 for the first time. It is now up over 150% year-to-date.
- MAY 24, 2017 8:13 AM
- 149
Bitcoin is created by the governments to threaten people and get ransoms anonymously ! NEVER TRUST it!
Article and comments especially on ''why Bitcoin isn't anonymous and capital gain tax free'':
http://www.zerohedge.com/news/2017-05-31/bitcoin-standing-gold
It's tempting, quite a lot. It's the trend and many follows it. Nevertheless, I find it dangerous. I will never use it.
Dangerous?
Bitcoin Spikes Above $2800 For First Time As "Japanese Buying Frenzy" Continues
It appears the Japanese bought the f**king dip in Bitcoin last week, as tonight's session has seen s sudden surge in the price of the virtual currency, taking out prior record highs and topping $2800. Additionally, Bloomberg reports, the speculative frenzy in bitcoin is spilling over into several small cryto-currency-related stocks on the Tokyo Stock Exchange.
- JUN 5, 2017 10:45 PM
few obituaries fr this risky cryptocurrency
Bitcoin has died 171 times
https://99bitcoins.com/bitcoinobituaries/
I knew a guy at work a few years ago was looking at BC when it was pretty low, and wondering if he should buy... I bet he's kicking himself now! (this was back when it was in the hundreds!)
Bitcoin is like fire... it's what you do with it that means something - not the thing itself.
The best option is cash. Second best option is..??? BC? (if you don't want governments etc watching every single move you make)
Bitcoin Core Developer Explains Bitcoin's Value
"It’s the developers that give any coin or ecosystem the antifragile quality... You’re not going to be able to inflate it in any way. Bitcoin is sound money because there is a fixed supply limit and demand is always increasing. "
- 32,455
- Sep 29, 2017 7:20 PM
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