Apr 11, 2019
WHICH CAN YOU BUY WITH CYRPTOCURRENCY???
Bitcoin has gone on a long journey since Bitcoin’s whitepaper was released in 2008. Currently Bitcoin has become a financial instrument accepted as a form of payment in several countries. However, Bitcoin in particular and cryptocurrency in general also create big “surprises” for investors with its instability in the market. Despite the high risk, cryptocurrency is still considered the future of money with increasing practical applicability.
While in 2010, the first transaction with Bitcoin was made when a programmer exchanged 10,000 Bitcoin to take two 25-dollar pizzas. Now with the price at press, this pizza costs up to $ 52 million, even if it is covered with diamond instead of cheese, it still not reach this price.
Next is the explosion of games based Blockchain using tokens as a game currency (The most famous game was Hello Kitty on the Ethereum platform), this is just one of the ways in which crypto is deepening enter this huge profitable area.
If you like travel, Expedia companies (Expedia.com, Hotels.com, Trivago owners, Hotwire …) have allowed reservations at more than 400,000 hotels and accommodation in over 70 countries buy using Bitcoin.
CheapAir or TravelForCoins will accept Bitcoin to pay you airfare. Paying for meals through Bitcoin also appears in some restaurants such as Pembury Tavern, British Burger Bear, Old Fitzroy pub in Australia or The Pink Cow of Japan.
Technology companies have enthusiastically responded to this cryptocurrency. Since late 2014, Microsoft has allowed customers to transfer Bitcoin to USD to pay for games and applications. Dell computer firms also accept Bitcoin for some online transactions. There are also names like PayPal, Steam, Overstock, Virgin Galactic, OkCupid, Namecheap …
Not only with small and medium value products, a car dealership in the US also accepted transactions with Bitcoin, in which the electric car Tesla Model S (costing about $ 100,000) and Lamborghini Gallardo super sports car (price More than 200,000 USD) was successfully paid by cryptocurrencies.
The new partnership between Microsoft, Starbucks and ICE (International Exchange) is one of the signs that retailers are beginning to accept cryptocurrencies as a simple payment method.
In September 2017, a $ 325 million real estate project was opened for sale in Dubai and accepting direct payments with Bitcoin. According to the investor, the cryptocurrency will heat up the real estate market so this form of payment will be a breakthrough step and bloom in the future.
Banks are also not stand out when continuously announcing the release of their own token for the banking system, led by the largest US bank: JP Morgan.
Cryptocurrency also becomes a legal investment channel supported by the advent of Security Token. The SEC’s recent report announced that some cryptocurrency would be considered securities, many believed that Security token would be part of the big wave in the next year.
Bitcoin is the most potential cryptocurrency candidate to become an ETF (Securities Investment Fund), which will increase the availability of institutional and retail investors, and therefore, directly affect prices of BTC. Many companies approached the SEC about creating their own Bitcoin ETF, but all applications were rejected. Analysts expect the first Bitcoin ETF to be approved in February 2019.
The word attitude with BTC
Bitcoin investors and owners believe that it is gold in the era of information technology. In addition to some characteristics such as fiat, Bitcoin is claimed to have a finite amount so it will avoid inflation (because it cannot be printed more like money), cannot create and not fake, can trade anytime, anywhere.
Besides, each country has different assessments about Bitcoin. In the US, it is considered a virtual asset instead of the official currency. Therefore, Bitcoin transactions will be taxable, people “mine” or use Bitcoin to pay remuneration, compensation is also included in the tax bracket.
Meanwhile, European Union (EU) recognizes Bitcoin is a form of currency, not assets. British considered Bitcoin a foreign currency, under the management of foreign currencies. Bitcoin is recognized as a form of payment in Japan and Bitcoin exchanges in this country are not taxed.
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