Anyone here buying/selling cars using bitcoins.

Izso

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To be honest, I'm not familiar with the bitcoin system. How much is 1 bitcoin 'currency' worth these days?
 

hex999

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Izso

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If it fluctuates - isn't that somewhat risky? And how does one evade tax by buying with bitcoin? If I can evade taxes why not! haha
 

vr2turbo

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vr2turbo

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If it fluctuates - isn't that somewhat risky? And how does one evade tax by buying with bitcoin? If I can evade taxes why not! haha
Later kena find out, have to pay tax arrears then will be worse.....hhahahhahah:biggrin:
 

Izso

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just found out 1 bitcoin is worth USD400 thereabouts yesterday. Wow.. means 500 bitcoins can buy me a Merc 350 SL already.
 

hex999

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Well every currency fluctuates base on supply and demand. However it is still one of the best performing currencies. Way better than ringgit for sure.Tax evasion because it doesn't go through our financial system. But well, it's good to use if you would want to buy a rm150k cash instead of withdrawing your cash in a briefcase, Online transfers, or cheques. We can transfer bitcoins to the third party. Bitcoin is not illegal in Malaysia btw and many places like lazada mall accepts them.

It would be nice if our community starts buying/selling cars or car parts for bitcoin instead of rm/usd
 

vr2turbo

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vr2turbo

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As with anything new, it takes time to catch up and also whether will be popular or not.....
 

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I heard bitcoin is already on the decline. The number of BC being issued is getting lesser and lesser mainly because of data centers and BC farmers using their specialty BC farming equipment just to do all this?

Btw, anyone heard of Dogecoin? Yes Doge as in the dog. HEhehehhee.. concept same as bitcoin
 

Izso

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If most have not heard of it, means not popular.....lol
Only in Malaysia la VR.. dogecoin is already gaining momentum overseas to some extent and people are already using it as currency. Just not as valuable as bitcoin.

The concept of bitcoin is good. A universal currency that can buy things and isn't affected by international currency exchange and to earn it you need to help with complex calculation processing just by parking the coding in your computer.

Only thing bad is bitcoin is hackable so need to use those bitcoin banks. Which is hackable as well which means if you get hacked, your money goes with it.
 

vr2turbo

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vr2turbo

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Only in Malaysia la VR.. dogecoin is already gaining momentum overseas to some extent and people are already using it as currency. Just not as valuable as bitcoin.

The concept of bitcoin is good. A universal currency that can buy things and isn't affected by international currency exchange and to earn it you need to help with complex calculation processing just by parking the coding in your computer.

Only thing bad is bitcoin is hackable so need to use those bitcoin banks. Which is hackable as well which means if you get hacked, your money goes with it.
Well, digital world is like that. I just spoke to a bank staff and if we need to send written instruction to them need to fax, cannot email, mobile and whatever and that also need to register with them. So much for digital world, to many hacking.....:sleep:
 

hex999

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Only in Malaysia la VR.. dogecoin is already gaining momentum overseas to some extent and people are already using it as currency. Just not as valuable as bitcoin.

The concept of bitcoin is good. A universal currency that can buy things and isn't affected by international currency exchange and to earn it you need to help with complex calculation processing just by parking the coding in your computer.

Only thing bad is bitcoin is hackable so need to use those bitcoin banks. Which is hackable as well which means if you get hacked, your money goes with it.
Bitcoin itself is very secure as you cannot dupe bitcoins in the blockchain. Hacking issues are usually the fault of the broker or banks.
However,I still see a lot of cases of fake money circulating in the country.

For us average users now, we cant afford to mined for bitcoins, if you just look at the mining farms its impossible to compete
https://www.youtube.com/watch?v=-ihMqEDs4B8


I am actually plan on encouraging my mechanic to also accept bitcoins instead of RM solely, it might actually help to have an additional source of currency coming in instead of depending of RM entirely.
 

vr2turbo

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vr2turbo

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Means the rich gets richer, the poor gets poorer. Rich can afford bigger main frames, poor fellow cannot do much.....lol
 

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