I think this is an interesting concept, Spam. But as others have noted, in order to be taken seriously as a currency (and not just as a fly-by-night money making/money losing opportunity), it greatly needs liquidity, stability and transparency. If and when it gets to that point, I think it probably will gain greater acceptance. But if we ever get to the point that fiat currencies begin to lose value or acceptance, digital currencies will likely be hit even harder, since they rely on the ability to access money and conduct transactions solely through electronic means. And in that sort of apocalyptic scenario, I doubt that electronic communication will be as available as now. Even gold does not have true intrinsic value (you can't eat it, drink it or live in it). But it does have a perceived intrinsic value, mainly based on its history.
If the dooms day crowd ever sees their fantasy come to pass, I figure that a man with an AK47, a milk cow and a garden is going to be a lot richer than a guy living in a city apartment, who has 1000 bitcoins... or even 10 bars of gold.
But yeah, it will be interesting to watch digital currencies evolve. But I believe I'll continue to watch from a distance.
I think one of the more important functions Bitcoin fulfills is that of "currency competition". It's no secret the US dollar is a debased currency that is manipulated for political reasons. Time will tell (maybe a lot sooner than anyone expects) if the combination of our shaky dollar's valuation, massive debts and a shrinking workforce/tax base will ultimately cause a financial collapse.
People will always act in a self-interested way, so I see increased gold and silver sales, the rise of Bitcoin and an out of control corporatist government as signs that point to unavoidable, unsolvable problems.
I don't know, but the IRS rules treat profits and losses for "bitcoiners" like stocks, which seems like a reasonable middle-of-the-road approach. It is interesting to note that at least one country (I forget which one) has eliminated the threat of any taxation on BTC activity. I think they will reap many benefits and increased economic activity from their decision.
My name is Maksym Krupyshev, i'm the ceo at Fruitwallet.
We developed an ios app, which works without any need to be in Appstore.
It is actually web based, but not just "another online wallet". We do store your coins on our wallet, but we provide you with a great service for pocket expenses with BTC for your ios devices.
We use hardware identification, so your wallet is tied to you device, so no one can hack you without having all your passwords and device itself.
To use it just open fruitwallet.com in your mobile safari browser.
If you need to contact me, you can google my name (I have rare last name) or ping me at support@fruitwallet.com
I just don't want to share links to my profiles too much.
Comments
I think this is an interesting concept, Spam. But as others have noted, in order to be taken seriously as a currency (and not just as a fly-by-night money making/money losing opportunity), it greatly needs liquidity, stability and transparency. If and when it gets to that point, I think it probably will gain greater acceptance. But if we ever get to the point that fiat currencies begin to lose value or acceptance, digital currencies will likely be hit even harder, since they rely on the ability to access money and conduct transactions solely through electronic means. And in that sort of apocalyptic scenario, I doubt that electronic communication will be as available as now. Even gold does not have true intrinsic value (you can't eat it, drink it or live in it). But it does have a perceived intrinsic value, mainly based on its history.
If the dooms day crowd ever sees their fantasy come to pass, I figure that a man with an AK47, a milk cow and a garden is going to be a lot richer than a guy living in a city apartment, who has 1000 bitcoins... or even 10 bars of gold.
But yeah, it will be interesting to watch digital currencies evolve. But I believe I'll continue to watch from a distance.
I think one of the more important functions Bitcoin fulfills is that of "currency competition". It's no secret the US dollar is a debased currency that is manipulated for political reasons. Time will tell (maybe a lot sooner than anyone expects) if the combination of our shaky dollar's valuation, massive debts and a shrinking workforce/tax base will ultimately cause a financial collapse.
People will always act in a self-interested way, so I see increased gold and silver sales, the rise of Bitcoin and an out of control corporatist government as signs that point to unavoidable, unsolvable problems.
Does the IRS calling it property that works more like a stock help or hurt Bitcoin's future as a currency?
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[*] http://www.theverge.com/2014/3/25/5546736/irs-rules-that-bitcoin-is-property-not-a-currency
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I don't know, but the IRS rules treat profits and losses for "bitcoiners" like stocks, which seems like a reasonable middle-of-the-road approach. It is interesting to note that at least one country (I forget which one) has eliminated the threat of any taxation on BTC activity. I think they will reap many benefits and increased economic activity from their decision.
Hi all,
I don't want it to look like SPAM or SCAM.
My name is Maksym Krupyshev, i'm the ceo at Fruitwallet.
We developed an ios app, which works without any need to be in Appstore.
It is actually web based, but not just "another online wallet". We do store your coins on our wallet, but we provide you with a great service for pocket expenses with BTC for your ios devices.
We use hardware identification, so your wallet is tied to you device, so no one can hack you without having all your passwords and device itself.
To use it just open fruitwallet.com in your mobile safari browser.
If you need to contact me, you can google my name (I have rare last name) or ping me at support@fruitwallet.com
I just don't want to share links to my profiles too much.
Enjoy.
Best regards.
Max
Nice information!