I think fiat currencies are necessary because economy of the whole world is based on them. That doesn't mean that some changes will not happen with time but still cryptocurrencies will not replace fiat money and to my opinion that is not their purpose. And because of their characteristics that couldn't even be possible. But cryptocurrencies can exist.along with fiat and be different alternative that could also help fiat currencies and economy to transform.
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I understand the concern about environment, this is very important to me too. But I don't think that consumption of electricity related to Bitcoin is something we should be worried about. It's not that high percentage compared to some other consumers and industries. Also there are renewable energy sources that could be used and that are available for miners. Anyway, I would like to see some figures from reliable sources, not just guessing and theories.
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It's not easy to give some forecast but having in mind period of last six months and relatively quiet period on the market I don't expect some wonders. I think the price will rise eventualy but I don't think the price will go above 10000$, at least not so soon. So, basicly there will be no huge pump as many hope.
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Many people still find cryptocurrencies too risky, some even look at them as a fraud or illegal and don't want to invest because they fear to lose money. Many also don't understand how cryptocurrencies and blockchain technology are functioning and they rather choose to avoid them. Also lack of regulation and legal back up keeps them away from investing in crypto. But I think this could be changed with more information and education about cryptocurrencies and blockchain and I beleive with time this will change.
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I can't figure out what is the meaning of this thread. Exchanges are still live and kicking just they have to adjust their businesses according to very strict legal regulations. So the only issues that might appear are in this area. Also, users have bigger and biggers demands they have to respect in order to keep their business but trading and exchanging cryptocurrencies is living and growing process, definetely not dead.
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Despite some theories that Bitcoin is strongly influenced by some interest groups to my opinion individual users still have the biggest impact. Also, we have whales who usualy hold very large amount of Bitcoins and no doubt they can influence the market but still usually this is exaggerated. There is no conspiracy theory behind Bitcoin and it's not driven by some special group of individuals but each and every Bitcoin user has its own contribution that is valuable.
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No, I don't want that, what would be the point? The meaning of Bitcoin is just the opposite, it's virtual digital currency, it represents new era where paper money is more and more replaced with new digital payment methods. I think that with paper banknotes Bitcoin would lose its very essence and idea of digital world that it represents so there is no need for physical form of Bitcoin at all.
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Well, it depends on your definition of wealthy, it's very individual term and depends on your needs and desires. Still I don't think that it's easy to become wealthy in term like some early adopters made their profit. Because of the huge Bitcoin price rise from the very begininig when Bitcoin first appeared until now, those who kept Bitcoin long enough could really made the fortune. Today that is not easy and I would say to become rich with Bitcoin is hard but if you are skilled and experienced trader or you have the talent to recognize and use all opportunities that Bitcoin gives you, you can make decent profit that should satisfy you.
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I think it's their right to issue cryptocurrencies and try to be competitive at the crypto market. Yes, it's usualy a try to impose the government coin to the people of their country but still it's their right. Having in mind such attempts so far I would say that governments haven't been very successful with cryptocurrencies but who knows something might change in the future. And some governments have really good intentions to support and endorse cryptocurrencies, like Japan, which is example that all should follow.
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I think you are right. In the last couple of years focus of majority of Bitcoin users has completely turned to profit and price has become the most important characteristic and issue of Bitcoin. I think that is quite different compared to attitude and philosophy of early adopters and what the general goal of Bitcoin was. I could say that this might maybe be wrong and that we forget the very essence of Bitcoin but on the other hand things are changing, Bitcoin is making progress and people value different things. I think that key is to find the balance.
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It's a tight race but still I give slight advantage to China. I think it's more flexible and despite some issues and struggles with cryptocurrencies in past more eager to fully adopt and implement them along with blockchain technology in many segments of business and industry. They will put a lot of resources in that battle and USA will have to compete constantly. China is becoming a leader in many aspects, they are about to become first world economy and blockchain will be just one little segment they will win.
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The movements of US dollar affect other fiat currencies, that is for sure. But to my opinion it's not influencing Bitcoin and other cryptocurrencies because they are decentralized system not depending on any fiat currency and they are not part of any formal economic system. The influence could be indirect because in some cases the fluctuation of dollar could influence the ability of some users to buy or not to buy Bitcoin but this is the side effect that is not connected directly with crypto market.
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Many are surprised with relatively long period of so called Bitcoin stability. But such situation will not last for long because volatility is natural characteristic of Bitcoin price and can't vanish. Even now volatility is visible but fluctuations in price are small so this so called stability isn't real. So, no Bitcoin will not become stable coin and no regulation orwill act of users will change that fact.
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but sometimes the price drops even deeper. well I guess your idea is good enough to do that but what happens if the price keeps going down, will you buy it again? or sell a loss? or hold it back? but it depends on which coin you buy, if the coin is good I think it will improve soon.
It's true, sometimes drop could be the sign of even bigger dump but still it's better to buy than to sell and that exactly is the one of the most common mistakes that users make. If you are a long term investor you will recover your investment sooner and later and time for buying is always when the price is low not when it's rising high. It's only important to make the right estimation and not to sell to soon. So be sure that you can wait long enough and that you don't need the funds you have invested.
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In the nature of Bitcoin and the way it's functioning is volatility so that can't be changed. Bitcoin price is not going to be stable and I.don't even think that centralization (that is not going to happen) could change that n Besides I don't see any reason, beside some economic, that Bitcoin price should be stable. Volatility is something we all make money on.
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I think that answer is simple, never invest more than you can afford to lose. So, basicly it depends on your risk apetite because investment without risk doesn't exist. Also, before you invest your funds in anything you should make the due dilligence and check all information related to that investment. That still doesn't mean you will completely avoid the risk but you will minimize it. And follow your instict, if something doesn't look or feel right probably it isn't so don't put your money there.
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We heard that crypto is often used for terrorist funding, but according to IOCTA in 2018, such an assumption is wrong.
Today, the popularity of Bitcoin is getting better, but the relationship with terrorist funding, they prefer the classic method of transferring through banks.
so, terrorist groups that use bitcoin are only low level transactions.
I beleive it's so. Despite bigger anonimity compared with fiat money that cryptocurrencies offer to terrorists they are not so willing to use them to finance their dirty activities. I think because of cryptocurrencies characteristics it's complicated to use them and they are not so spread and available for use. I think this is good because the last thing that Bitcoin and other cryptocurrencies need is tight connection to terrorism. Even without that many people still have bad opinion about cryptocurrencies.
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Sooner or later you will have to face with loss too become you can't make profit in trading all the time. But the loss doesn't have to be something so bad, it's important how you deal with it and do you know how to recover and how to escape or minimize the loss next time. That is why it's important not to trade biger sum than you can afford to lose and always to check what and when you invest to and to be present on the market as much time as you can. You can start trading with small amount, actually that is the advice because before some bigger sums you have to learn a lot about trading and get some experience. So, "play" with small sums and learn.
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I'm not exactly first early adopter but I can say that I'm involved with Bitcoin for a long time now, since 2013. This bear market that we are having now it's nothing unsual to my opinion and we've seen similar situations before. There is no rule how often will appear.and for how long will stay like this, that depends on many factors. But there is nothing to worry about market will change and sooner or later will enter into bull phase, you just have to be patient long enough but it's also useful to know how to get the best out of bear market too. And.that comes with experience.
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I don't know in what sense did you mean that Bitcoin is security. Security like additional income to regular income or security in sense of secure blockchain technology and network. Anyway, I don't think that Bitcoin can be defined uniquely because it has so many different characteristics that could be combined depending on use and purpose. From my point of view Bitcoin is currency, asset and commodity all in one.
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