It depends on how the law or official statement is worded. When it contains only the word bitcoin, then only bitcoin is banned. But I assume that will rather not be the case because it would not make much sense for a government to only bann bitcoin and not the alts as well. The formulation will be held in a way that it includes all privately founded crypto currencies.
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As many here have already mentioned, once the keys to are wallet are gone the coins inside are stuck for ever. I think that with time, that is going to happen many times. And that means as well that the number of circulating bitcoins is being reduced. That will contribute to an increase in price. Maybe one day a bitcoin will be a very rare good and accordingly expensive.
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Every payment with a credit card works digital. There are already countries where 80% of all payments are made that way. When you look at Sweden they have 95% of all transactions digital. And the government ther is planing to have a society without paper money by the year 2030. I am convinced that sooner or later all countries will follow the same path.
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I do not like the whole concept of ICO. There may be some that actually have a concept that might work. But the large majority are just there to collect money. In the end the small investors will pay the bill and lose their money. One could say it's their own fault if they invest into something they do not understand. But I do not think it should be made so easy to exploit the naivity of other people.
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I am really wondering how it works there. Do they offer you a wallet connected to the bank account? And is it possible to convert bitcoin into the lokal fiat and back? How high are the fees for their service?
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I don't think that predictions can be always wrong. There are only three directions of movement: up, down and sideways. If you bet on one of them you have based on probability calculation a 33% chance of being right. Nobody is that unlucky to always make the wrong choice. Of course, when you have a specific value for the price of bitcoin in mind, then it's different.
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I think it was not only a bitcoin price boom, it was a crypto currency price boom. Crypto currencies got space in the media because of the increasing price, and that lead to more popularity and an even higher price. Then there were many ICOs, advertised by celebrities, and people put money in it. All together it peaked in the middle of December, but that level was not sustainable.
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I think the market needs a breather. The up and down with the high volatility in the past month, that was surely eating up the nerves of many traders. I can understand if they want to get a few quiet days. What I find interesting is that we did not see more movement in the bitcoin price after the NEM theft. Maybe we are really moving into a more quiet phase these days which will last longer.
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Many books have been written about trading. If somebody really wants to start as a trader, I would say that one of those books might be a good point to start. They all have promising titles like 'day traiding for beginners', and are not really expensive. I think they mostly relate to the stock market, but many of the strategie there can be used with crypto currencies as well.
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I see the biggest threat to the whole financial sectors in a scenario where loans can not be paid back which were used to buy crypto currencies. When it comes to crypto currencies as payment form, I do not think the banks fear them. The business model of banks has changed during the last decade. Private customers have become a kind of burden for many banks.
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This time NEM was stolen, not bitcoin. There are not so many trading pairs involving NEM, mainly you can trade NEM against bitcoin. I assume if somebody tries to sell those coins, it would mainly effect the NEM price, and not the rest of the crypto currency world.
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Bitcoin, I think crypto currencies in general have become an investment. Just look at all those ICOs. They are all brought up and advertised in a way that people who buy it now will get more money for the coins later. That is pure investment. And an investment usually has not that much practical use. Gold for example. No supermarket will accept it. People have to take the detour over fiat more and more often again.
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I think that physical money will disappear inevitably. Not in ten years, and not in twenty. But in fifty years, maybe the 100 dollar bill is only something for collectors and won't be accepted in stores anymore. I do not think that fiat money will be replaced by a crypto currency, I assume the dollar itself will be a kind of crypto currency at that date.
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I think it is very impressive that bitcoin as the first crypto currency is still the leading coin. You could think that the second or third coin would be more advanced and therefore prefered by the people, but no. The code of bitcoin is is already so advanced that even after a decade the people still stick to bitcoin. That shows what a genious Nakamoto must have been.
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Once somebody is able to drive a car, he should be able to understand bitcoin as well and handle it in a responsible way. The age to get a drivers licens differs from country to country, but as far as I know it's between 15 and 18.
In general I would not teach bitcoin in schools. Imagine a teenager was tought about crypto currencies at school, opens an account and loses all his money. I am sure that in case of a lawsuit the school would be held responsible and it would have to make up for the loss.
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I think that education is schools is missing more than just education of finances. When the teenagers leave school, they have no idea what insurances are needed in life, or what to do when they are unemployed. There should be a school subject called practical life. Some basic edjucation about how life in the country you live in works.
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In the eyes of the chinese government the way how people in China use bitcoin harms the chinse economy. From a technological point of view, there really seems to be no way to infiltrate or harm bitcoin. Otherwise the government in China would have managed to do so. Most people don't esteem that fact, although it is really a very positive realization. So China intervenes where it is possible for them: the exchanges and the miners.
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Like many many others here I'm a hodler. So ultimately, I get no money from bitcoin at all. Neither do I buy anything with my coins, nore do I exchange them against fiat. At one point, the time will come to cash out a part of my stack. But that is in a distant future. And what my coins will be worth then or how I will spend them, I really have no idea now.
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'Dont invest all your Bitcoin in 1 source' says the title. Why should I invest my bitcoin at all??
I agree completely with diversification. So having other coins beside bitcoin is a smart thing to do in my opinion. But investing what already is an investment, that is something I can not recommend to do.
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One thing the high volatility does as well: it keeps bitcoin in the media. What seems to be more intresting for the media than a rising bitcoin price is when they can report that the charts go down. Bitcoin goes up and down, so the media have always something to report. Even if its bad news, it is better than no news at all. If bitcoin would stagnate, I assume we would very soon have no reports at all. Without public notification, a slow and silent downtrend could start.
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