Transferring money between countries using Bitcoin
Hello folks. Continuing my previous post about viability of btc in transferring money from country A to country B, I would like to discuss with you (more experienced cryptocurrency users) my scheme how I am going to do it and I would also like to hear your opinions on how some things can be improved and listen to newbie advices overall. So, lets begin. Main goal is to transfer around 15,000€ monthly from “Country A” to “Country B” using cryptocurrency and bypassing all these predatory charges of companies such Western Union and bank systems and also retaining anonymity. I, “person A” in “Country A” am going to register on LocalBitcoins and then buy Btc on said amount of 15,000€ - after that transaction is done and Btc is on account, “Person B” will need to cash out these bitcoins in “country B”. I know, that in “country B” there are Bitcoin ATMs - so to withdraw our btc and to make them in cash we will use them - Bitcoin ATM. For that we will need “paper wallet” - here is where I have problems in understanding of what exactly is paper wallet and how to obtain them and use them? After all that done, “Person b” in “country b” will have no problem withdrawing btc from account and receiving them in cash straight out of bitcoin ATM, automatically converting BTC in Euro - right? Main questions are: -will my scheme work and is there any things I am missing/is it optimal scheme? -wont it be more expensive than just transferring money via said WesternUnion or similar service? Please, if you have any thoughts - share them. Also, if you are experienced in that matter, have time and are willing to help - I would be happy to discuss that in discord or telegram - just pm me. Thank you in advance.
@BitMinutesBot used to send prepaid phone credits to over 500 carriers in 135+ countries using Bitcoin.
I don't know too much about telegram bots but this must be one that doesn't work with high fees. Can we get a bch version? Prepaid phone credits are as good as cash in some places. The world can use this. I saw it in October 2015:
With @BitMinutesBot you can buy or send prepaid phone credits to over 500 carriers in 135+ countries using Bitcoin. simply send it a phone number or share a contact to get started.
What would stop someone from taking out a $100,000 personal loan (or business loan), smuggling it out of the country using Bitcoin (or gold for the less tech-savvy), and retiring in a poor country like Mexico or Guatemala?
What would stop someone from taking out a $100,000 student loan (or business loan), smuggling it out of the country using Bitcoin (or gold for the less tech-savvy), and retiring in a poor country like Mexico or Guatemala?
If a country used bitcoins as its currency, and came under an attack (like Pearl Harbor)...
Theoretically, lets say one country uses bitcoins as its national currency. And another country uses a fractional reserve, federal reserve system like the United States. Lets say the non-bitcoin country uses its military to attack the bitcoin country. How would the bitcoin-based country issue credit and raise funds to fight the war? The non-bitcoin country could just issue bonds and inflate the currency supply so they can pay for the war by issuing credit payable with interest set on a marketplace. The bitcoin country would be bound by a deflationary currency that has no capacity for expansion. Would the bitcoin economy have to spawn another blockchain to issue credit? What are your thoughts?
Bitcoin mentioned around Reddit: What would stop someone from taking out a $100,000 personal loan (or business loan), smuggling it out of the country using Bitcoin (or gold for the less tech-savvy), and retiring in a poor country lik /r/AskReddit
It's hard for me to see masses in "Stable" countries using Bitcoin, anyone else?
I think the main way people in 'Stable' countries will use Bitcoin is if they don't even know they're using it in the first place. Doesn't that seem to make the most sense? Them using services that are running on top of the Bitcoin network? It's hard to imagine masses in Countries like the U.S. rushing out to buy BTC for purposes other than a 'BTC savings account', even if good 10% off sales are abundant with BTC purchases at stores. Now, if everyone in the USA woke up one morning to have their Dollar devalued 20%, then, I could see them piling in/buying BTC directly head over heel to try something new. Thoughts?
I can't use Paypal in my country, Bitcoin or Agent?
I'm from Mexico and im planning on buying from Monica but my country doesn't have the option for Friends and Family in Paypal, she gave me the option of using an agent or paying with Bitcoin. The problem here it's that im new in this hole thing and idk how to use an Agent, neither sending bitcoins lol
Can I "spend" my current holdings while profits are lower into a hardware wallet and just pay the taxes for 2020?
Let's say that in 2-3 years time I end up in another country using Bitcoin as my only currency for expenses. Can I just pay Uncle Sam right now, get off the exchanges completely, and avoid further headaches down the line? EDIT: yeah, yeah, yeah... 😒
10-21 18:16 - 'Sir, you need to use google to your advantage. You’re asking a question that cannot be answered as simply as you’d like. You’re going to need to learn what bitcoin is, how it’s exchanged and then research your country’s r...' by /u/00100101011010 removed from /r/Bitcoin within 1-11min
''' Sir, you need to use google to your advantage. You’re asking a question that cannot be answered as simply as you’d like. You’re going to need to learn what bitcoin is, how it’s exchanged and then research your country’s regulatory rules. It’s like me going to a sub for pilots and saying “hey guys I’m new to flying, how do I fly an airplane?” Do you think that could be explained in a single comment? Absolutely not. This is common sense that spans beyond crypto, Reddit and the internet in general. As others mentioned, read the side bar. That’s literally why it’s there, so this sub is filled with the same question: “how do I buy bitcoin”. Got it? ''' Context Link Go1dfish undelete link unreddit undelete link Author: 00100101011010
Do it for your country. Move your coins, just as Mnuchin requests. Use a Coinstar machine and get Bitcoin!
Presuming this isn't another Twitter hack, the U.S. Treasury secretary just tweeted: "If you have extra coins at home, please use them to make purchases— or deposit them at the bank or exchange them for cash. Help get coins moving!"
[Update: DOH!! I forgot. You can only use Cash for the purchase of bitcoin using these Coinstar kiosks. Is there a way to cash in the voucher you get for the coins and then turn around and with the cash obtained use the kiosk again to get the bitcoin voucher?]
09-05 16:35 - 'Not for poker, but anyone wanna gamble use stake.com / You have sport Bets and live casino etc. And no KYC. / If you are from a restricted country, use a VPN and you Will get in.' by /u/jordy666999 removed from /r/Bitcoin within 386-396min
Bitcoin Payment for Passport in Venezuela is a Cool Thing About Bitcoin
Since its inception, Bitcoin has been a fan favorite and has gained widespread publicity, as a result, its increasing price surge over the years. From the first-ever block that was mined to the latest block, Bitcoin has increasingly given out rewards that have exceeded what most investments would bring. Presently, Bitcoin trades at around the $9,200 mark as it has witnessed major decline from the previous $10,000 mark. Generally, Bitcoin was first created as a peer to peer payment system according to the white paper released by the presumed father of Bitcoin, Satoshi Nakamoto. Almost 11 years down the line since Bitcoins creation, we have witnessed major adoption all over the world. Presently, major firms in developed and developing countries have started to accept payments for transactions via Bitcoin. This is brought into fruition by exchange platforms as they have been the major driving force behind the adoption of Bitcoin as a result of setting up physical and virtual branches in countries across the globe. Venezuela debuts Bitcoin payment options for passport fees In light of the adoption of Bitcoin, reports emanating out of Venezuela is that the government has now decided to accept Bitcoin as a means of payment for passport applications. Normally, in every country, there are fees that an individual is supposed to pay if he wants to apply for passport or its renewal. With this news, it means that Venezuela has gone ahead of other countries to start accepting BTC as a means of payment for passport procurement. https://preview.redd.it/i3qescgl98751.png?width=440&format=png&auto=webp&s=ebdae4464742740111a2d332fc57c53cd9228b0b Confirming the news on Twitter, a self-claimed, Investor and Miner (@BTCLovera) said,
"I have just verified it personally and it is totally true. #Venezuela, the immigration service, is accepting bitcoin for payments. Renew passport or request an extension."
As a result of the fact that the feature isn't available to Venezuelans living in the country, the majority of them have kicked against it. Criticizing the move, a Twitter user said, "But... But, bitcoin is slow and has no use case!". On the other side, a high profile influencer, Bitcoin Educator, Developer and Entrepreneur Jimmy Song embraced what's coming in Venezuela. He tweetd;
"Venezuelan government is using BTCPayServer to accept Bitcoin for passport application payments. The same software is being used by hrf to accept donations to subvert governments like Venezuela. If this doesn't show that #Bitcoin is the money of enemies, I don't know what does"
Countries use Bitcoin as a means to reduce the impact of US sanctions This is not the first time a country would be hoping to use crypto to their own benefit as in the previous years, countries under the US sanctions are using crypto to bail out themselves. Countries like Iran, Russia, and China have enjoyed major benefits of digital assets even with US sanctions looming. Below is a list of countries under the US sanctions and how crypto and Bitcoin has helped them. Iran Since the last two years, the United States of America sanctions on Iran have been very effective and it has shrunk the economy of the Asian country by 10-20%. Presently, Iran is using Bitcoin as a tool to better its economy as it has plans to increase it's mining operations across the country with a Blockchain backed digital currency on the way in the nearest future. China Due to the ever-present US-China trade war, there have been growing concerns about how the US sanctions will affect the economy of the country. American president Donald Trump has promised to use the sanctions to frustrate China, a move that is already in play. China has the ever-growing presence of Bitcoin and crypto assets to better their economy and they are aiming to be the first country to launch its CBDC with a pilot test already underway. Russia As a result of US sanctions on Russia, the country has been making moves to replace the US dollar with Bitcoin as its reserve currency to limit the impact of the sanctions. According to an economist in the country, the country is looking to invest heavily in Bitcoin and dump the US dollar. Even though the president of Russia, Vladimir Putin has said he is skeptical about Bitcoin, he is an ardent believer in the Blockchain technology. The president has echoed that he hopes Russia look the way of the technology to create their own CBDC. In conclusion, most countries are adopting Bitcoin either as a payment option or as a hedge in times of trouble because Bitcoin has delivered massive profits over the years. Bitcoin adoption is further growing widespread as a result of the increase of exchanges who are venturing into countries around the globe.
The country’s leading exchanges have one of the biggest volumes of Bitcoin being traded on a daily basis. There have been many reports that show that Chinese citizens have moved closer to power plants to profit from the cheap electricity provided by them, and use them to mine bitcoins. However, seeing its current regulatory actions towards cryptos, the number of hodlers might dwindle in the ... A Bitcoin-to-wire service remains the best solution in the country, but depending on how the financial situation evolves, new cryptocurrency services may be launched in the coming years. The country is tenth in the ranking in terms of trading on Localbitcoins, has 5 crypto ATMs registered and there is a discreet list of businesses that accept bitcoin as payment. 9) Brazil It represents the 22nd country in the world for trading volumes on Localbitcoins, but it has a fair number of shops and other activities that accept the cryptocurrency as payment, including two transport ... The bitcoin system, along with all of the alt-coin cryptocurrencies that operate on it, uses a form of technology called a blockchain. This technology uses complex algorithms to verify each transaction, and also creates an ongoing ledger of every transaction that has ever occurred in chronological order. This means that there is no need for a middleman to verify or vouch for transactions, and ... Imagine a country where everything new in the digital world is not only tested but implemented. Bitcoin.com is proud to present a list of the ten most Bitcoin-friendly countries in the world ...
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