Although there are a few countries who uses bitcoins and other cryptocurrencies now, I cannot help but wonder if the world is truly ready for this digital currency? It will certainly be hard to replace all currencies in the world but it could happen in a decade or so, perhaps even less? Still the question is, is the world ready? I think if this happens it might be one of the biggest changes that will happen worldwide.
Civilized world is absolutely ready for using cryptocurrencies, as it has all the necessary infrastructure (electricity, internet almost everywhere). The only point of concern is total absence of regulation of crypto which may lead to financial chaos. Anyway, full replacement of fiats with crypto is impossible in the nearest future - this process could take many-many years. |
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Yes, all these recommendations are absolutely right.
I just want to add that one should never download and run archives or exe. files from untrustworthy sources. Or even if there is such a need one should first check the file with antivirus before opening it.
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Fiats are just a leftover of the times when there was no Internet, so different economics and societies can easily deal with them.
The process of transition from fiat money to digital currencies could take up to several decades and will be connected with a lot of problems, but the benefits will definitely be worth that.
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Is there a role for Bitcoin in international trade? Have you heard of a trade between two countries?
And will it be in the future?
Bitcoin is something personal, so countries and governments are unlikely to get access to international trade using crypto in the nearest future. Moreover, cryptocurrencies are so much volatile that I can't imagine successful trading with such an unstable exchange rate. |
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I was questioned on crypto currencies legalization. I explained the facts happening around. Few received it with convincing reactions and few just ignored it. I really felt bad for the guys who did not care about crypto currencies as I really know the fruitfulness? I happily taught few others about crypto currencies. What was your friends expression when you introduced bitcoin to them?
Most of my friends think cryptocurrencies are a kind of ponzi scheme, but that's because they saw ads saying things like "pay us 10 bucks and get rich tomorrow". I certainly tried to explain all them that dealing with crypto is something that requires patience and thought, and only then the results can be fruitful - and most of my friends agreed. |
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We can not deny the big country with good economy, it will make the society economy better too.
So they can follow the economic development and participate in transactions and investments in Bitcoin era.
How the people of small countries can participate in participation and benefit from it?
People of countries with backward economy (I suppose that's what you meant by "people of small countries") have a bunch of other problems starting from lack of drinking water and electricity to constant social earthquakes and wars. Earning money in such countries is a process based on primitive extraction of mineral resources and prehistoric methods of trading. So I really doubt that their interest in bitcoin and crypto in general will explode in the nearest several decades. |
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Crypto market is been red for last 3 months. Everyone has lost money. What do you think?
If taking into account the last peak of Eth in early May (around $840), the current price is really devastating and everybody might have lost a huge amount of money. Nobody knows how long will this dip last because the interest to altcoins seems to be gradually going down. |
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How long on average it takes for the ICO projects to redistribute the tokens a person who has contributes to their Bounty campaigns?
Personally I got very late always (From 1-2 months), is it suppose to be like that?
Bounty rewards are usually distributed over 4-8 weeks after the end of campaign - this is a general practice. Though recent campaigns are very often extended for 4-6 weeks, so it might take up to 6 months to get your earned tokens. |
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Is it possible to happen? Altcoins crushing bitcoin in terms of price, trading, etc.? I am just curious about all of your thoughts, so don't hesitate to reply and get yourself justified  This is for all of us to gain knowledge between ALTCOINS and BITCOIN. The only competitor of bitcoin could be Ethereum, especially when it rapidly gained its popularity in early 2018. Though now we can see the opposite situation - the price btc slowly goes up, but the price of eth stays below $300. This testifies for the fact that bitcoin is still more highly demanded than any other alt. |
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Its no longer news that an ICO in Japan has lost over $400 million to hackers. They promised to pay back investors who invested in their ICO. Thsi is a huge loss. After I read that news, I began to wonder. How safe is Bitcoin and Other altcoins? What measures should we take to avoid being hacked ?
Cryptocurrency "in vacuum" is absolutely safe unless you somehow reveal your personal info (private keys, mails, etc.). Regrettably, we cannot handle our coins without wallets and exchanges, and it is these intermediaries that are mostly unsafe. So keep your credentials on a separate flash drive and never click links from unknown emails  |
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I want to have "Passive Income"
I will raise capital to build a business that can provide me with passive income, so in my old age I do not need to work to earn money, how about you?
do you have an idea to build a business that can provide passive income with minimal capital?
I dont't think I will be able to save money over the next 5 years - there is so much stuff that needs to be bought. My "passive income" now is crypto: despite the fact that I spend my precious time on what just MAY have a higher price I still believe that one day my efforts will be rewarded. |
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We all experience being financially challenged and we cannot deny that money makes us revolve around it. When we find ways to alleviate our financial suffering, we stand our ground and spend so much effort just to see the result and of course, benefit from it. Do you think that spending time and effort to gain bitcoins is a rational idea? Do you think that you could've been wasting your time? Let me know about your thoughts.
I also thought about whether I'm wasting my time when deal with crypto. I counted hours spent for analyzing the market and came to the conclusion that this all is not in vain and will contribute to my financial wealth. |
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The answer is just simple, we all are cowards . Everyone will like to wake up one day and find out that Btc has reached 50,000. All these people are scared to invest hugely in bitcoin but want to become Crypto millionaire and Billionaire. You ask them why they are scared and they are like crypto is volatile and so on. This is the time to set the record straight make people realize what they are into. If you are scared then there is no need for you to join this amazing fraternity . Most people are far from being cowards, they simply have another vision of what is happening and try to diversify the risks. Yes, bitcoin seems to be the most reliable investment among all cryptos, but it will take too much time for one to wake up a millionaire. That's why many investors prefer a faster way to become rich by trading alts. |
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I'm not referring to the price of Bitcoin (we all know it's going to be $250,000/coin by 2022), but the goal that it would be a legitimate alternative to inflationary government fiat currencies. When the altcoin market is examined, it is inextricably linked to the price of Bitcoin. Where Bitcoin goes, so does the rest of the cryptocurrencies. There's even somewhat of a dismissive attitude toward other crytpos in some investment circles; strangely this was a similar sentiment held by those "respectable" investors when Bitcoin was in its infancy.
What do you think? I'd love to hear from some crytpo veterans.
Bitcoin in its current state has definitely failed to become an altetnative to fiat since btc's inflation/deflation cycles are even worse. We call this volatility, but in fact it's just the unregulated supply and demand that cause these drastic differences of price. |
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I might be a bad psychologist but I simply don't understand what makes people rapidly sell their coins at a price that is 5-10 (!) times below ICO price.
Why do they do that?? Is it so hard to wait a bit?
One could be far from genius to calculate the losses arising from such panic selling.
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Guys we are very much aware how the crypto community through this great forum has helped most of us in terms of our finances but is so heartbreaking that the most of the public views only describes how insecure and unsafe the crypto community is. I do understand that cryptocurrencies are volatile and the issue of anonymity sometimes scares people away but y'all bear with me that if crypto is explained to you and you really understand it properly you would not make wrong mistakes and get swayed away by panic sales or submit your private key as ethereum wallet address. Is it a public campaign or some other form of tutorial that we should organize to help explain crypto to the world because believe it or not the blockchain technology of cryptocurrencies is being admired by most organizations and some of them have decided to run their operations with the use of blockchain technology. What can we do as a community to help change the public view of Crypto?
I prefer staying away from public debates about crypto and explain the peculiatities of this technology only to my closest friends and relatives. Though I do agree with you that more attention should be paid to ptomotion of blockchain into masses, which eventually will lead to a more widespread use of cryptocurrencies. |
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The risk in the virtual currency market is the risk of losing some or all of its capital when the investor performs the investment or virtual currency transaction. Identify the risks before conducting a transaction, helping them to know the specific loss rate in each case of investment will be how to, minimum and maximum how to decide the scale of investment, the first time investment, time of investment completion, and other relevant factors.
The main advice is that one should invest only the money he is not afraid to lose (neither retirement savings nor the initial capital to start up the business). Diversifying your portfolio is also a nice thing to do - do not invest in solely one coin, buy at least 2-3 coins so that the profit from one coins could compensate for possible losses from another coin. |
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The Ministry of Finance of Germany signed the Decree on recognition of bitcoin legal tender. The document specifies that purchases made for cryptocoins, are not taxed!What do you think about it?
By signing this decree they just recorded the current state of affairs, as it is almost impossible to impose tax on every transaction with bitcoin. Well, German government seems to be wise enough to avoid resistance to technological progress, which is inevitable despite all bans and regulations. |
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Like the title says, i almost lost my regular job as a software developer today when my boss reviewed my work. The job has been able to economically provide a comfortable life for me and losing it would really be a big hit to my income. I almost lost it because i spent so much time learning about everything crypto (mining, trading, bounties, etc.).
Has anyone else experienced this? I just feel pretty lucky I was given another chance and want to remind other people that having a regular job is much better than relying on the volatility of cryptocurrencies. Make sure you prioritize your work!
I also experienced difficulties with combining my regular job and crypto when I first got into this market. Thanks god I am self-employed and do not depend on a "boss", so I can easily adjust the amount of time that needs to be spend on a certain working activity. |
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I am very interested to know if cryptocurrency wallets like Bitcoin Core, NEON, Electrum can ever be hacked ?
They can be hacked but only if you are not careful with your private keys and somehow disclose them to hacker. The best way is to keep your credentials on an offline flash drive like usb and disable internet connection when you need to access it. |
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