Bitcoin is a decentralized currrency.I think its higly impossible for any person or a group of people to form a bank for bitcoin.Already,there are exchanges for buying and selling bitcoins,wallets for storing bitcoins and other than this,i don't know what difference a bitcoin bank could make.

So,with our private keys secured,we ourselves act as bank by holding bitcoins in our wallet.So,bitcoin bank would not come in to reality.

Most people just wanted to enjoy free air drop and get access to free bitcoin gold coins just as it occurred previously in Bitcoin cash.So,they just sold their altcoins and bought bitcoins for getting free coins.

Now,it seems that hard fork has already occurred yesterday and even the coins have got listed in Yobit exchange.Now,its time for those people to just drop their bitcoins and once again buy altcoins.

The same scenario could be expected once again in november when another hard fork is expected due to segwit 2x activation.

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Unless bitcoin gets legalized and regulated in a country,citizens of those countries could enjoy tax free earnings from bitcoins even if it is of very huge amount.Just in india,we all still enjoy tax free bitcoin earnings as it has not yet been legalized in india so far.But once,it gets legalized,then we have no other way than paying taxes.Very soon,it is to be legalized in india and we would have to loose the tax free benefit.

Bitcoin could be termed as a currency,an asset and a commodity as it is used for all the three purposes.Bitcoin was created as a currency.But it is also used for trading.Also nowadays,most people buy considering it as a huge return giving commodity.Even,its mostly bought today for that purpose.Even most countries are still confused in considering bitcoin as a currency or asset or a commodity and hence,they have not legalized it yet.

In today's situation,no factor seems to have power to destroy bitcoin.Neither governments,nor banking sector or the legality issues have the power to stop bitcoin.It was earlier expected that china's actions against bitcoin would even destroy bitcoin.But now,that threat also has gone.No altcoin seems to have potential to replace bitcoin.Bitcoin may face a serious threat after twenty years when quantum computer might get introduced.It would be able to read the private key of a bitcoin wallet using its public key itself.

Mostly when there is a bitcoin rally,most of altcoins including well established altcoins start bleeding.So,when you see your invested altcoins price falling down and bitcoin price increasing,either you could hold some of your altcoins which you believe that their price would surely recover soon or else,you could just sell them and buy bitcoin to avoid misssing the train.

Shorting is a process where you definitely get an idea that bitcoin price is definitely going to fall and so,you just sell your bitcoins and wait for its price to fall down more to buy it once again.But its highly risky and many have faced loss by wrongly predicting.

It was earlier a most frequently used idea to sell bitcoins and invest in altcoins so that they could increase their volume of bitcoins when altcoin price increases.But that seems not working now since bitcoin price is steadily increasing.So,you have rather done a wrong thing by selling your bitcoins and buying altcoins.Next time,don't get panic and just patiently hold your bitcoins in a long term basis to get huge profits.

Yes,chinese are already super power in many fields.Main reason for this is the availability of cheap labor and enormous amount of natural resources.But i think that they have made a grave mistake by trying to completely ban bitcoins.Instead,they should have tried to regulate it just as japan did.Due to their activity,china has lost its dominant position in bitcoin industry and very soon,it may loose its lion's share of bitcoins when more mining firms get located in various parts of the world.

As you have already said,just buying and holding bitcoins in the wallet is the best way to generate passive income as bitcoin price is continuously growing.Other than that,you could join cloud mining firms.Genesis is found to be the most legit mining firm.They offer three schemes based on the hash rate.But you would have to wait for atleast six months to get back your invested money itself.Most of the other mining farms are found to be scam nowadays.

No,its not possible for bitcoin to replace USD within next 15 years.USD has been well established as the global reserve currency for more than seventy years.It has been stored as national reserve currency by many countries.it is accepted world wide.Even crude oil trade has been carried out only in USD from 1973 due to which it gained world wide importance.

Bitcoin has just been created eight years ago.it has only been legalized in one or two countries.Some countries even don't like to allow it.So,it might take years for bitcoin to gain importance and become a substitute for US Dollars.

That expectation of air drop might also be a reason for bitcoin's pumping of price.Investors expect some free coins in their wallet,the bitcoin gold.But just they don't understand that the situation would not be the same as it was during bitcoin cash hard fork as it had some mining pools support and bittrex exchange support.But this time,no such miner support is found.Also,it is said that in bitcoin gold,the mining algorithm would be changed so that it could be mined with GPU systems.So,don't know clearly how transactions would be carrie out and how long it would exist.Just people awaiting for a free bullshit coin bitcoin gold.That's it.

I think that you are taking the situation a little bit more serious.I do agree that we have been in bullish trend for more time continuously,despite of china's actions against bitcoin.I don't understand how you give that much importance to bitcoin gold hard fork when it does not have miners support and no exchanges or wallets have till now extended their support to it.It would have very little significance when compared to bitcoin cash which was supported by mining pools and bittrex exchange.So definitely,it would have a very small impact on bitcoin's price.

But i too have to agree with your prediction about segwit 2x activation that it may create big negative effects in the bitcoin environment.Even though F2Pool and two other pools have withdrawn support for segwit 2x,still it has 85% of miners support and that's an alarming signal  about bitcoin's price drop at that time.So,bitcoin investors would have to be very careful at that time.

It was in earlier days of bitcoin that silk road and dark markets adopted bitcoin for their illegal activities.But now,they have other ultimate choices like monero and zcash for such purposes since they provide full anonymity and bitcoin is pseudo anonymous.

Drug dealers won't be willing to risk by dealing their business with bitcoin payments as it could be easily traced.Now,bitcoin is widely used for various purposes like trading,sending huge amounts of money,buying goods,etc.Bitcoin has diversified uses.

Its ok that you have sold it at $5,000.But you could have waited a little until november when bitcoin price is expected to decline due to activation of segwit 2x.A lot of FUD would be spread during that time by big whales to make bitcoin price fall.Also,newbies would be doing panic selling.It would be the right occasion to buy more bitcoins at very cheap price.The act you have done is termed as shorting,but it should have been done much nearer to segwit 2x activation.

Definitely,bitcoin would help the distribution of wealth equally in the world to atleast some extent.Now,in today's traditional system,only rich people get more and more rich.Poor get more poor.Rich people enjoy all the  benefits of economy while most of the poor don't even get access to that.But,bitcoin has totally changed this situation.It gives equal opportunities to all people belonging to both developed and under developed countries.

Only thing that people in the under developed countries should have is a device and an internet connection to get access to bitcoins.Most of unemployed youth  belonging to poor communities have got new earning opportunities in bitcoin like mining,trading,participating in signature campaigns,etc.

Today,bitcoin price is $5,643.It seems that it would increase a little more.But during segwit 2x activation in november,bitcoin price may face a decline due to panic selling as no one knows which one would succeed,bitcoin supported by core team or bitcoin supported by segwit 2x.Also,more FUD would be spread in the market by big whales.Newbies would sell bitcoins in panic and thus make bitcoin price fall.

So,it would be better for you to stop buying bitcoins now and buy during that time as price would be low at that time.But very soon,after that bitcoin price may recover.

If bitcoin becomes a legal currency,then definitely its user volume would go very high and also its rate would go very high as its demand increases.People would gain more confidence in buying bitcoins.Retailers would come forward to accept bitcoin as payment.In japan,after legalization,we saw thousands of retailers started to accept bitcoin payments.

Bitcoin would even become familiar to unknown people.But,if it gets legalized,then surely it would be taxed by government and we could no more enjoy tax free income from  bitcoin.

Retailers face two problems in accepting bitcoin as payment.

1.Its volatile nature
2.Not being yet legalized by the governments.

Retailers find bitcoin volatility as the biggest issue in accepting bitcoin as payment.If a retailer accepts bitcoin for selling a product,then if the customer returns the same product after two days and if bitcoin price decreases,the customer would not agree to accept bitcoin back and if the bitcoin price increases,then retailer would not be ready to pay back the customer in bitcoin.

Retailers fear that if they accept bitcoin as payment and if one day,suddenly the government bans bitcoin,then all of their bitcoins would become worthless.That's why,around 250,000 retailers now accept bitcoin as payment immediately after japan legalized bitcoin there.