Yes it is possible for bitcoin to it's value. since it happened in the late 2013 where it loses more or less 80% of its value. tho it bounces back, the recovery took too much time, people sold in panic, but those who hold their coins won big time.
so yes, bitcoin can lose it's value but it's hard to say when and why it will happen. if ever, i think the recovery take some time before it rises up again
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Taxing bitcoin will not be good i think.Exclude the fees in each and every bitcoin transactions you send and add the tax in each transactions that would be a hell of a cost specially for small users
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we cant control the volatility of bitcoin since it is decentralized, unlike fiat, it cant controlled by the government. bitcoin's volatility is based on the people that demand and the supply it gets, and we cant control these people. if we cant control the demand, then we cant control the price and the volatility of it.
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It really is hard to say since bitcoin is very volatile, we can really say bitcoin can pump to $500k by 2020, tho we can also say that by 2020, bitcoin will lose it's popularity by the means of a new coin that has more potential than bitcoin. it's only about speculations that can manipulate people.
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i think not. criminality in internet exists even before bitcoin was introduced, bitcoin only improved the works of criminals in the internet especially in the deepweb. transaction that happen in deep web involves bitcoin because it is really safe for them to send the payment taking advantage of the anonimity that the bitcoin offers.
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i think you should hold it for as long as you can. or take alteast 1btc to invest in an altcoins, and engage in trading if you have the skills to. this can help make more profit while still holding a large sum of bitcoins.
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the difference between bitcoin and real money is really big. bitcoin was introduced to be an alternative for fiat, this'll be the currency of the internet. while fiat is regulated and can be controlled by the government and banks. fiat can be taxed unlike bitcoin, since bitcoin uses blockchain for transaction, making bitcoin decentralized.
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it's because people can hold gold. It has a physical form. Also, gold has stable price compared to bitcoin, bitcoin can really go up and down in a flash because of it's high volatility. we can't say bitcoin stay in it's position forever, it will not die but probably will be outshined by other cryptos if ever there is one.
personally, i dont think of gold better than bitcoin and vice versa, because we can use it both, they do not compete to each other. both gold and bitcoin offers different services that's why I dont think they are even comparable to each other.
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yes bitcoin is secure. it is just our own fault and negligence that causes us to be hacked. to be honest, bitcoin is so secured that if you forgot your private keys, even you cant take it back. bitcoin has a blockchain that is used for transaction. if anyone plans to "steal" bitcoin, it'll require them to bypass too many authentications, encryptions and such.
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it really depends on how bitcoin will die. if bitcoin will die in an instant, altcoins will surely die too. but if bitcoin loses it's supporters, altcoins might have a chance to steal bitcoin's popularity. tho to make it happen, a new cryptocurrency should be introduced that can outshine bitcoin and make way for altcoins to show what potentials they have.
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with bitcoin's price rising and peaked at 9000$, it's not really surprising since bitcoin's demand getting high too.
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Where is the crash that you have said now lol.Its just a start up time for bitcoins to rise through the whole of end of the 2016 now look at its price right now.It doubles instantly in just few months and price develops about 500% in the market
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I think not. Fiat will not be worthless even if bitcoin will reach $10k. fiat's value si more stable than bitcoin. knowing that bitcoin jsnstill young, it can be affected by some news and other psychological influences that can change the mind of a person not to believe in bitcoin. by all means, fiat will still be used my majority because we all know not all people has an access to internet.
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bitcoin is not better than gold. because bitcoin is unstable in price unlike gold. bitcoin is very volatile, it's price may go up and down, it still can be affected by news. gold is not volatile as bitcoin so it's price can neither go up or down like a flash
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it'll be unfair for the poor if we dont have physical money. they cant afford to have an access to internet or any technologies. the technologies may evolve but the people cant afford to buy a computer
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surely we can get it back with mining. but not all people can access or even build a mining rig. not all people have an access to internet so how can they use cryptos. obviously government will not allow cryptocurrencies to take over fiat since they cant regulate the cryptos, they cant charge taxes from it.
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because bitcoin is till in the process of develop and is still young despite being around in 2009. the market too is still small that it can be affected by news that can make people sell their coins in panic.
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bitcoin may be in good form right now, but it still cant be a national currency because of it being very volatile. government cant charge taxes when making a crypto transaction, and crypto is very hard to regulate.
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it happened happened back in 2013. bitcoin lost almost 80% of it's value. the recovery took long enough that other people sold their coins in panic. others still hold it and they earn profit because after the recovery, bitcoin pumps and increased its value more than what it had lost.
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as long as there people that believes bitcoin has a use and value. as long as there are technologies and internet for it to be accessed. and i think it will survive for like half-a-hundred years, because rn, technologies are still evolving, bitcoin is still young despite of being around in 2009. bitcoin still has a lot to offer and has a lot of room for improvement.
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