Database error, sure. Because that's how other systems go down. But bitcoin is different. It's decentralized. There will be no "unexpected huge error" in the network as it is constructed perfectly. Legality issues surely will not affect bitcoins because they didn't go that way. They didn't ask permission from the government or whatever.

Where did you even gets these ideas? You just thought of it yourself? Then you don't know what bitcoin really is. If you read this from some article, read below the whole thing because it might be just some April Fool's post once again. Or some troll just told you this. Everytime you read something, I suggest that you do a quick google search to confirm it before believing that it's real.

Not only the supply will go lower, but the number of bitcoins in circulation will decrease as well. Everyday, people die and one of them might be a bitcoin user that holds thousands of bitcoins. Of course, today we don't feel it yet. But after all the BTC was mined, it's just a matter of time until we realize that there are much less coins in circulation, thus, bitcoin will even be more volatile.

But of course not everyone's going to use bitcoin alone. There are other substitutes for bitcoin so I don't really mind all of these stuffs. It's easy to find a way out in case something big goes in the way of bitcoins.

That's just wishful thinking. "I hope bitcoin gets higher price so I can buy the things that I like." How about get more bitcoins so regardless if the price goes higher or stays the same, you'll be richer? People dream and dream about getting rich. Wake up from that dream and do actual stuffs to make it real.

To be honest, hoping alone doesn't get you anywhere. Do the necessary actions and then that's the time you should hope. Hope that all your efforts will get you somewhere and hope even more that it will get you to the place that you always wanted.

Me, I just collect as much coins as I can. I'm not on some crazy long term holding like you, you're suggesting to hold for 30 years but we're not even sure if we're going to live that long.

Getting scammed online never physically hurt anyone so far unless of course the damage was inflicted to one's self. If you're fine right now, then you're brother probably will be fine as well. I haven't seen someone goes to trauma or whatnot just because he got scammed by some HYIP site. You should just warn him right away to never invest in a website, never deposit money, never use personal email address, and never use the same password.

Prevention is better than cure. It should be clear to him right away that everyone will try to scam you especially if you show them that you are new in the game.

More like bitcoin hack would the pull the price down. What comes after a major bitcoin hack? Dump. This is useful to someone that was just about to invest his money to bitcoins and to those that are trading bitcoins. But, to those people that own the bitcoins, it's chaos.

I don't think banks will insure anything at all. They accepted bitcoins, why put 100 million dollars for insurance when they could've invested that money somewhere else. Besides, banks are owned by the government and the government hates bitcoins.

I'm not sure what's the point of you saying about taking bitcoins in exchange of dollars but if they hold private keys, they are just waiting for hackers? You need a bitcoin wallet to accept bitcoins and preferably 1 address for each bank user. And what does those addresses have? Yup. Private keys. You can't accept bitcoins without ever generating a private key.

Let me warn you right there. I'm doing you a favor. Don't listen to any PM you will get from him. A matrix is basically a Multi-Level Marketing aka Networking. Anything that sounds too good to be true, especially online, is a scam. 100x your money? Are you kidding me? Maybe you can do that but it will require you thousands of referrals. Are you sure you can persuade or manipulate people into paying money just so he can join a company? Everyone knows about these little scams that gets renamed a lot.

MLM, Matrix, Rev Share, they are all ponzi schemes with different payment mechanisms. Ultimately, all of them depends on the payments of the newcomers and nothing else. There's no method or investment going on behind all that, just pure scams.

"It didn't work for me, pretty sure it's not working out for everybody else." How about no? I'm sure that if you put enough effort on finding referrals, you will get active referrals. Simply knowing a friend that's interested in bitcoins gives you one potential active referral. If you don't have someone who's interested in bitcoins, then make them. Talk about bitcoins to them and tell them how much you've made so far.

You don't just post your referral link on Facebook and then expect someone to join you. It doesn't work that way. Others make blog about bitcoin just to get referrals. It's on you how are you going to make people sign up under you.

Trust me, they will track some bitcoin users just to set an example to the mass. That's just how things work anyway. Weed gets illegal, people will still not stop smoking weed. Flash news, someone using weed goes to jail, everybody becomes low-key and cautious about smoking weed. Everybody gets frightened. Ever wonder why there's always crime in the news? That's so they can keep on reminding us not to do that crime, otherwise, we will go to jail.

Some bitcoin users don't know what they are doing. They cannot cover their tracks. Thus, if someone would want to track them, it'll be easy. So even though you feel safe and mighty behind all those VPN, you will still be frightened if you see a fellow bitcoin user in the news for getting arrested for using bitcoins.

I beg to differ. The price of bitcoin, especially when it's around 10k USD, is the indicator that people are using bitcoins and merchants are accepting bitcoins. Let's say the price of bitcoin is already at 100k USD (hypothetically), then that means huge investors, businessmen, and large companies have already entered the game. Almost everyone is starting to become a bitcoin user. This will destroy the government's taxation since they cannot collect any.

At that point, bitcoin is already the main currency. It might not be a regulated and government owned/issued currency, but it is the main currency because everyone's using it.

For long term trading, there are only two times when you have to worry about the fluctuation. It's on the time that you're about to invest your money, and at the time that you're about to convert your coins. Whatever happens in between is totally irrelevant since you cannot go back to the past.

Actually, even in short term trading, this can be applied as well. Within 24 hours, a lot of things can happen. But only two things actually matter, the starting and finishing point.

Some say that when you are going to trade long term, might as well take advantage of the price fluctuations so in the end, you'll have much more bitcoin than you invested. But I actually say the opposite. Because trading is a matter of knowledge and experience. If you don't give it enough attention and time, you might just end up losing what you've invested.

Minor altcoins "might" need bitcoins because it has been a tradition that new altcoins are traded against bitcoins. But nowadays, it's kind of different. We have ETH now which is both decentralized and can be traded into other altcoins, and other coins can be traded into ETH not only bitcoins. Some coins can even be traded directly to USD.

I've been using Liqui Exchange for quite a while now and their new update enables you to place buy/sell orders on ETH, BTC, and USD when trading all the coins listed on their site. Although of course there are other exchanges that allows you to do this as well but I think it's mostly just with major coins such as Ether.

And then what? That's just the creation of the bitcoin wallet and nothing else. That's a tiny bit of knowledge that you can get from bitcoins. Literally every bitcoin users know how to do that. There are sites (aka online wallets) that even allow you to register using your e-mail, verify it, and then that's it. You're good to go. I'd say that's just the step one of learning about bitcoins.

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And you learned trolling like, 2 months ago? Obvious troll is obvious.

Let's say that bitcoin has replaced fiat. There will be other cryptocurrencies that will stand out. Probably the major ones we have right now like Ether, Dash, and Litecoin. But of course I don't know that those will still be the major coins at that time for sure since the wind can change our sails anytime.

Anyway, people will not use only bitcoin. They will not battle their way in in every transaction that they do. After all, there's plenty of choices on what cryptocurrency to use. Maybe every country can even have their own decentralized and unregulated cryptocurrency just so we are not crowded up in the bitcoin transactions.

In other words, in the rise of bitcoins and the fall of fiat, it will be more of a rise of cryptocurrencies because we can't all be using bitcoins because the transactions will be even more slower and/or the transaction fees will become even higher unless they've already solved this issue.

It all depends on you. If you're thinking of something for the long run, then you definitely should prioritize learning how to trade. Signature campaigns will always be there. It shouldn't be your priority unless you're living from paycheck to paycheck and you're depending on the pay from signature campaigns.

Just think about it like this. Signature campaigns will give you money in a week, but it's not as much as what you'll get from trading. Tasks like these give you money after a short period of time although the pay is quite low. While stuffs that you have to actually learn and experience like trading pays really really low at first but it increases depending on how much you've improved your skill.

Electricity is quite renewable and can't be erased in this world. There's tons of stuffs that can be a source of energy/electricity. Even just the sun, you can get solar energy from that. From the wind, even, you get wind energy. There's geothermal energy. Tons of sources of energy so I really doubt that one day, there's just no electricity anymore. It's possible that some element or some force comes to the world that prohibits us from using electricity, but there will never be absence of electricity.

I really don't know how can someone make a virus and then it will just make bitcoin worthless. What exactly will the virus do? Take down the bitcoin network? Hmm. No. I just don't think a system or a virus can take all these down.

They know how to use a tablet or even a computer but that doesn't mean they will have the knowledge to understand how bitcoins work. Maybe they can understand that bitcoin is a currency of the Internet but any one can understand that. Nothing special about kids being able to use technology. To understand what bitcoin is, it will still require some basic education.

No one's considering bitcoin as the future of economy except for the people that use it and are knowledgeable about it. Thinking about all the advantage you get from using bitcoins, you will really get that idea but in reality? I think it's the opposite. Economy will always be built by money issued by the government also known as fiat.

It depends on your skills. If your skills are about technology especially programming, gaining bitcoins can be much easier most especially if you live in a third world country. Seriously, almost every job in third world countries sucks except of course the huge ones. Even those that have a degree can get much less than what you can gain from trading, doing signature campaigns, and participating in ICO bounties. Well, that's the case for my country at least. Bitcoin is much easier to accumulate than fiat.

Most people that I talked to in slack get their bitcoins from buying using the money they get from their day job and nothing else. They don't do signature campaign or anything. Pretty sure it's because you get 10-15$ per hour from a day job even from just working in McDonald's. USD is much easier to get when you're in a first world country.

But ultimately, it still depends on who you are. If you're someone who has a company IRL, fiat might be much easier for you to get while if you're someone big in the online world, like if you're a programmer and people always ask for your service, then bitcoin can be much easier to get for you.

This is the usual "The success of others lessens my success". It doesn't. Although it might seem that there's a competition, it's actually a good thing. It increases the demand for those people that can actually do the work and can do it better than most. The only ones that are frightened by the amount of online workers are those that stay on the basic level and don't practice to make the service or skills that they offer better.

As more people are offering the same skill, the competition increases. But so is the number of people looking for that service. So you don't have to worry about it at all.

"Most of bitcoin users believes that idea" can you back this up with some article or some statistics or some survey?

Almost everything that is new is laughable by those that don't know about it. In the world war II, if you told someone that it will be possible to talk to other people around the world and we will all be addicted to Facebook, Twitter, and MySpace, you will be laughed at too. Back then, talking to people far away from you is like magic and if you tell people that it's possible and you're doing it already, they will think your crazy and, again, laugh at you.

Today, people are more open. When you mention bitcoin to someone, they will not laugh at you (just yet). But when you start telling them that you're making good amount of money and you're doing better than everyone else in the room, they will laugh at you. They'll say it's some sort of scam and you're just telling it to them so you can invite them to sign up under your referral. Oh well.

You can also use bitcoins offline by making a wallet that has the address that contains the said amount. You'll give the wallet (with the private key on the paper) to the guy you're transacting with. He can check online that the address you're giving him actually have that amount of bitcoin before you guys meetup. And then later on import the private key on his wallet and go online to move the btc to his actual wallet.

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Bitcoin is just more volatile and it traded a lot but fiat currencies surely do move as well. But it doesn't move as much as bitcoins.