Yes, bitcoin is not practical for daily use, it never was until today. I don't think that it will be any time soon unless innovations were made, and the transaction fees are lessened. Since there are not that many options for you to spend bitcoin, it can't be used as a currency for daily use. Some people use it for daily expense by exchanging it to fiat but I don't think bitcoin can be used as a currency. Most people see bitcoin as a stored value, because most owners store it in secure wallet. Like me, most people use their BTC  for long-term investment.

To answer your question, well yes, there's a chance for you to earn, also in bitcoin, by playing a gambling game. I repeat, there's a CHANCE. Also with that chance, there will also be a chance for you to lose your money. Playing a gambling game is really risky although with high risks there is also high rewards. If you're aim is to earn money or rather bitcoin, then I don't think playing a gambling game is the best option. There's a lot of other ways to earn, so I suggest you explore those first. I hope you find the answer to your question.

I agree. It's not yet that mainstream in the country, and most are still unfamiliar with the term bitcoin and "cryptocurrency". A lot still don't know about Bitcoin and some think of it as a scam upon first look. I had the same impression as well at first.

I noticed that there's an increase of BTC users in the Philippines, although as said, there are no establishments which accepts Bitcoin as a payment system. I've heard that two new cryptocurrency exchanges have been granted licenses so I hope this would pave the way towards more bitcoin adoption in the country.

Really? In the Philippines? That's really cool, the local wallet has provided various services for its consumers.

I guess it would be convenient, sort of like how a credit or debit card works. For those who don't always have cash in their pockets, this would provide more options. But yeah, given the choice I would still choose to pay in fiat, because to pay in BTC won't be worth it. I'd rather hold the BTC that I have than spend it just for a taxi fare. It would be better if it would be available for other transportation services as well such as flights and and trains.

I'm not sure about the percentage or number of people who does, but I think that there are many who choose to hold instead of selling their BTC. A lot of the Bitcoin users know the potential for Bitcoin to accrue, so I'm guessing that most would choose to keep their BTC in a secure wallet for the future. Though I think that a small percentage of people consider BTC as a daily income about 10-20% I guess, and they sell it on a regular basis so that they may spend on their daily expenses. There are those who rely on Bitcoin as a full-time job, so they really have to sell their BTC in order for them to spend.

If you're referring to those who are already established and rich way before Bitcoin is as it is now, then I think yes they may be investing in Bitcoin. I think that even if I'm already, I would still invest in Bitcoin because of its potential. In fact, I would take advantage of my resources to buy Bitcoin if I were rich. Rich people still need to invest despite the riches that they already have.

But if you're talking about those who bought Bitcoin years ago and are now millionaires, then I also think that they still invested in Bitcoin. Surely because of their experience of holding Bitcoin which increased in value over the years, they would still invest because it is still possible for the value to continue increasing.

I hope you haven't lost all hope in trading, I think that you'll learn a lot from the experience that you've had. It's definitely hard yet profitable. I understand that the amount you've lost is huge, but losing comes with the risk of trading. Trading is not for everyone and there will always be a risk in it. I haven't tried it out because I don't think I'm ready and I can't afford to invest and lose money. So as of now, just been holding my coins as well with the hopes that will appreciate after some time.

The gentleman from the good ol' days must be playing golf now, or riding their horses or ferrari. They're probably hopping from one country to another, riding their own yacht or private jet. I'm not rich as well, but I intend to invest for long term so I've been storing the bitcoins that I earn. I don't aspire for a luxurious life, and I just have a simple lifestyle. It would be enough for me to be just financially secure, because I don't need race cars and private jets to feel successful or happy. I just want a comfortable life.

Inspiring! So long as you're financially secure, I think it would be okay to leave your full time job for Bitcoin. It would really take your time and effort to do such things, because you would need to learn a lot for trading, forcing others to leave their full time jobs. So in a way, Bitcoin becomes a full time job for them. There's rick in it but they earn from it anyway. I've been earning bitcoin as a sideline as well, but I plan to hold it so I can't use it for my current expenses as of now.

I beg to disagree. Working for a signature campaign is hard work! You may say this because you may find that posting in the forum is just easy-peasy, but it's actually hard to consistently post daily/weekly. And what I think by what OP meant is that, he dedicated time and effort to earn the BTC so whatever the kind of work, it was said to be "hard" because of the dedication given.

Anyway, I don't know if wallets can be hacked but maybe he lost his private keys or something? How exactly was it hacked, did his bitcoins suddenly disappear upon checking his balance? Or did he have a hard time accessing his account? I don't know much about wallets, but maybe it would be better if he used a desktop wallet.

I've had my fears as well. If the government choses to declare Bitcoin as illegal, then all transactions and activities being done would be unlawful. Even revenue generated from Bitcoin may be declared as illegal, and having wallets and accounts may put you to jail had the government made a law that says so.

I agree that the government's main concern is the collection of tax because this is where they generate revenue. I hope that it in my country, there would be a compromise the same as Japan's. If they choose to recognize it as well just as Japan did, then it would be a win-win situation both for the government AND the citizens who own and use BTC. There has also been warnings by our government regarding illegal activities. It may not be the same as Japan, but there has been some recognition.

I'm from the Philippines and I haven't heard of this news. It would be convenient for bitcoin users in the country if this were to be true.

I'm not sure how these exchanges would affect the Philippine banking systems, because I think that the bitcoin users would utilize these exchanges to their advantage. The local exchange wallet, coins.ph, allows bitcoin owners to easily exchange their BTC and transfer it to banks. If these exchanges have lower transactions fees, then I think the bitcoin users would opt to use this. Perhaps if these exchanges offer services that utilizes the banks as well then it would be a win-win situation for the banks and the exchanges.

Hoping this news is true. This could provide better opportunities for BTC owners and users in the country, and may attract new users as well.

I have not seen any retail stores with a signage that says "Bitcoin accepted here" and I don't see any harm if it does display such a sign. I guess it would also have to depend on the government regulations of the country regarding the acceptance of Bitcoin. Yes, I'm pretty sure there are taxes imposed if ever. I don't think it would be a problem for numerous retail stores to accept bitcoin as a payment system, it would be beneficial even. More bitcoin users would have more options for them and at the same time, it would increase the popularity of Bitcoin.

So long as the retail store is not disobeying any law or government regulation, and their acts are lawful then I don't think putting up the signage would be a problem.

I guess it would depend on how cheap it got and what the reason is for its price drop. So long as its not something serious, such as the possible crash of Bitcoin itself, then I'd most probably buy Bitcoin when the price goes down. Whenever the price of something goes down, it'll eventually go up in the future and I'd take advantage of that opportunity it that were to happen.

The price of Bitcoin frequently fluctuates so there's no surprise for it to suddenly go down or up.

Yes, I believe that a lot of people don't know about Bitcoin yet. Upon hearing the term "Bitcoin", most people would react confused because they haven't heard about it before. I've seen an increase in bitcoin users but I believe that most people still don't know about it. In my community, Bitcoin is still unfamiliar to most and the establishments present do not accept it yet as a payment system. Even most of my family and friends don't know about it, except for the select few whom I shared my knowledge with.

People hold on to gold because it's secure and tangible. Yes its true, people trust on gold because its been existing for a long time already. I think that people hold on to it for security, because they know that its price is stable. I don't think that people invest on gold anymore, but rather they just keep it because of its high value.

It may be true that bitcoin's price has now reached higher than that of gold, but there are many differences between gold and bitcoin. One being its tangibility. Its price is also very different because the bitcoin's price is very volatile.

I sometimes do whenever the need arises. Usually during emergency situations or when there is no other source for me to get funds, then there's no choice for me but to sell some bitcoins. I also take advantage whenever the price goes up. Bitcoin has allowed me to have some extra fiat money. Some people consider Bitcoin as a job and a source of daily income, so they probably sell or convert it regularly. They use it for their daily expenses like for their bills and other assets. But I'd rather not sell it, because I intend to hold my bitcoins for long term use.

If it's the requirements you're worried about, then I suggest that you use an exchange wallet. It allows you to easily exchange BTC to your local currency, and some wallet providers allow online payments like billing or game credits. Some exchange wallets also have phone applications so its convenient to use. I don't of any phone wallet that allows you to buy in a grocery like fiat, without any use of a card. Also, I think it would depend on your country and whether the grocery store accepts online payments.

But would be convenient if a wallet provider had this feature, wouldn't it? One that allows us to exchange bitcoin into fiat instantly then acts like visa pay wave or a debit card.

Username: orions.belt19
Rank: Member
Post count: 158
Profile link: https://bitcointalk.org/index.php?action=profile
BTC Address: 3Bf62ofFiXGh5Z1BkPiEzFcZ8D7XELNU6L
Will change my signature once I get accepted!

Sounds great! I'm just curious though, what kind of regulations will your government make for Bitcoin? How will they avoid and alleviate the illegal activities? I hope they don't make restrictions that would hinder or deprive the Bitcoin users and owners in your country. In my country, Bitcoin is not technically accepted but rather it was recognized by the central bank. The government has also given warnings to the bitcoin users to be cautious of its use and other illegal activity, and to be wary of possible scams. Payment systems in the form of bitcoin is limited in my country.