For me, it can be used as an alternative mode of payment. As of now, it's really difficult to replace fiat and it's much easier to make small payments using fiat. But bitcoin excels when sending payment across borders without limit, from anywhere, without having an intermediary that logs everything you purchase or transact. It's not the use case for bitcoin to replace small payments as of now because of slower transactions and volatility, but in terms of it being an investment and medium of payment for larger amounts is where I think it can be used.

So if you are a solo miner, not part of a mining pool, and makes freshly mined virgin bitcoins, then you'll become a target of interrogation once illegal activities had been taken down and the bitcoins used came from your address. However, this isn't that great of a concern since your address is probably not identified to your identity. Bitcoin is used in illegal activities and virgin bitcoins could have values more than its really worth.

Other altcoins are not viable most likely because bitcoin is the one most dominant in the market.

Your idea is great, however, it would take a lot of time to get traction. People already know fiat from the beginning, that's why MrBeast got hold of his large fanbase. But it has potential, and to know what people's reaction will be after given and educated to bitcoin would be beneficial to the market, increased awareness of the public and potentially increase the demand. Another problem is who, that one is willing to risk giving bitcoin from his wallet, started uploading in Youtube and may, or may not become a success.

I admire your perseverance in life. Living your life must have been tough and I'm thankful for what I have today. We all start from small things and what I'm really impressed about your story is how Bitcoin became a part of where you are today. Pyramiding scams are in one time most abundant in the Philippines and many had invested in something they does not really know about or haven't done any research to their legalities. I hope future investors, reading in this forum, may learn also from your story, that besides being wary on your personal funds, is that no matter what, we should not give up, even how big our loss is. Great job and I hope you all the best.

But how will they earn bitcoin? Same logic goes to how they can earn fiat? Fiat or cryptocurrency, there must be a means to earning them. Sure, cryptocurrency could open up new opportunities but I don't think a large percentage could utilize it, especially for third-world countries. It does, however, provide ease in transactions, removing limits and intermediary. It could be, as it said, me another means of payment, but I don't really know if all of these would do better to a slow economy. Given that bitcoin transactions require network connection, and validation is not that fast, it will still be a theory.

Your idea is right but doing so is not an easy task. I think, before we even introduce crypto to indigenous people, we must first solve their primary problems. Lack of access to primary needs such as water, electricity and internet should be the first things to consider. Then jobs and education are what's next, people from these parts are having difficulties in finding opportunities around them because they're location are mostly remote areas and opportunities are there in the cities, which are crowded in third world countries.

After all that's been said, only then we can start to educate them regarding investments, where cryptocurrency could be one.

You need to specify more details. The flaw is not likely in the offline wallet. It could be, as already said, that the user has pasted the private key elsewhere. Online storage is not always safe, it depends on the person handling sensitive data and his practices in web usage. Number of attacks could be the possible reason of your friends loss. Some of these are phishing sites, suspicious links, or malware infected application installed on user's device.

I don't agree at some points. Even fiat is established only by the government, even it suffers from inflation, it all has its purposes. Inflation is not bad at all times, it makes people spend their money. Deflationary is bad in the end since people would just hoard, economy would stop, which is worse than what we have today. Government built centralized systems for people to follow, with tax powering the system, law enforcers are possible. It's not the centralized system that's corrupt, rather the people in position are those who are responsible why the system fails.

Imagine decentralized system in a country, no one would follow anyone, no government is just pure chaos. Don't expect all people would live in harmony and will think rationally because all of us have greed and corrupt ideologies on our own.

It could create a pump in the market, but I don't think it would last. Doing so what you have suggested would indeed increase market value of Bitcoin, but crash and probably remove altcoins in the market, which is bad in the long term. Altcoins somehow still help bitcoin's market to grow through trades, exchanges, etc. from bitcoin to altcoins. If no altcoins exist, bitcoin would only be exchanges to USD, or be used for transfers, which would slow down the market. Sooner or later, it would be no use, people would lose interest, its value won't grow and people may abandon it one point in time.

Bitcoin and cryptocurrencies in general could be used as a medium of donations to non-government organizations with visions to help the people or the environment. Since cryptocurrencies does not require too much fees, and transactions are almost limitless, acquiring help for those in need is easier than with central banks. It also helps the community send money without the need of intermediaries such as local money remittances, you can directly send funds to anyone you'd like as long as you know their public address.

I can't really say its better than the other. They both have their own capabilities as currencies.

Yes, cryptocurrencies are gradually being accepted in the industry, but I don't think it's enough to be used globally and by everyone since not all still has access to the minimum requirements to transact in crypto.

Your #2 and #3 statements are almost the same. It just says that blockchain is secure. While this is true, you cannot deny that some exchanges, ICOs, and malware could still impose risk on crypto. Not to mention that transactions are irreversible, once you get scammed/stolen, there's no way you'll get insurance.

Fiat, as of now is better on handling smaller transactions where the need of crypto is not really necessary. Also, bitcoin's market is volatile, either you label the goods by USD and be able to pay using BTC, or change price by mBTC regularly, which isn't viable for small businesses to use.

One good thing though is it removes intermediary, which is good for transactions to anyone with minimal fees and no limitations.

Privacy and anonimity in cryptocurrency can be good or bad. It really depends on who uses it. For example, most markets in deep web (onion sites) use cryptocurrencies for payments to illegal activities.

No one owns it. No one controls it. The proponent of bitcoin, who has set all the ground rules, and the market cap, has now left. It's up to us to decide whether bitcoin would continue or just dip to death. It's about the investors, the users of the cryptocurrency which would decide its fate. If no one would want to use it, then that's the only time it would be dead. It's decentralized, it's in every single node connected to its network, we all share a part of it, whales can manipulate it but no one can control it totally.

It's great to see that cryptocurrency is getting more and more relevant and known to the public. These projects introduce them the system and how it can be an alternative investment. Given that it's an entertainment firm and their fanbase is huge, not only in Korea but also around the world since they do tours, this 'may' have an impact. But I don't think it would be significant as of now, it's still too early to say if this would become successful or not. Either way, it's still good to see that crypto isn't falling but rather, growing slowly, and sooner or later be accepted worldwide.

It's possible that some institutions already hold bitcoin in them, maybe they're just hiding it and not broadcasting it to the public. I don't think these institutions would just let bitcoin exist and does not care to hold at least some. This also signifies that bitcoin is still early and that there is demand that would keep bitcoin alive in the next years or more. It's not just another get-rich-quick scheme, I believe that it would become mainstream soon, the blockchain and cryptocurrencies have promising advantages and characteristics that'll attract more investors.

This is not quite surprising. Bitcoin is widely used as a medium of payment and transactions in the deep web, and the tor browser is one of the vulnerable part of connecting to onion sites. That's why when dealing with large funds, we must always be alert and wary of the softwares we use. One way to avoid these is just avoid browsing in the deep web or avoid engaging in transactions which are illegal.

This is great news since it solves one of the problems of cryptocurrency and proves that bitcoin can also offer what banks nowadays could offer. However, we should make sure that the company is trustworthy, give them time to prove themselves, and prevent being scammed since they'll be responsible to our wallets and private keys. If deemed to be successful, this could pump the market, and maybe attract more investors since worries about losing bitcoin would lessen.

Those were the days when bitcoin only starts and not many has seen its potential to be this successful. The fact that bitcoin is 10 years now and still growing, proves that this technology has the capability to be utilized in the next generations to come. Not many had understood the impact back then, but few people does have and believed on it, making them successful this time. I also wished I had known this earlier and bought early, but maybe on the next decades, we might see newer technologies that have solid visions and we may invest on it earlier too.

This has been discussed in the forum for awhile. While on theory it could calculate and break current encryption methods, the quantum computer invented by Google does not have enough qubits to perform such calculations. And another point, if it would be made available to the public or some institutions, I'm quite sure that cryptography researchers would also strengthen current encryption, making algorithms quantum-proof. They could also use it to their advantage to discover new algorithms that is for now on paper only.

I totally agree with this. We cannot completely replace fiat, even if it is controlled by the government. People would only hoard since it's value is high and deflation causes value of products to lessen. Bitcoin is not suitable as currency, it's more of a medium of exchange, speculative investment and platform for day traders. It's not meant to replace fiat. I think the main purpose of bitcoin is to transact securely across the world without too much limitations and fees needed to pay.

One drawback of the anonimity bitcoin can provide its users. Although exchanges that implements KYC could help, it is still a lot harder to backtrack the transactions made to the specific persons involved. Sure, they can get the bitcoin address but they can't really figure out whom it was.

Until there are no standard regulation and identification of bitcoin addresses is made, all these illegal transactions would still exist. It has been known to the community that it's being used to these acts, mostly in the deep web. Privacy and freedom to transact almost anywhere without intermediary os beneficial, but could also be harmful, depending on who uses its capabilities.