Just the other day I was listening to some debate where few experts said that Bitcoin can't be considered as currency because it's not issued by some central institution, like Central bank. Never mind that theory but I don't think that some state will embrace Bitcoin as a national currency because in economical way this is not possible. Also to my opinion Bitcoin is not designed to belong just to some state but to be freely used all around the world.
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Not to have too big expectations, this is my first rule. Many users got disappointed in this year because they expected for 2017, especialy the end to repeat. My expectations from 2019 are more in direction of further regulation and adoption of Bitcoin, not so much of price growth. Still it might happen that we come to 10000$ again.
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In the moments of weakness when the price dumped hard many have sold their Bitcoins, so you are not the first or the last. Sometimes it's hard to resist especialy if you don't have enough faith and patience when the price is falling and you think you will lose everything. Still that is not one way road and if you change your mind you have the chance to reconsider your decision and start investing in Bitcoin again or even better to find the way to earn it. Remember that no decision is ever final as long there is your free will to change it.
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Loss is inevitable part of investing. Sooner or later you will have to face it, you can't make profit all the time. The question is how will you deal with it and what is your strategy, both on long term and short term. Also what is your plan to recover the loss. If you buy at high price and then the price is down for a longer period of time the worst thing you can do is sell. You have to wait long enough if not to earn then at least to cover the majority of investment but for that you have to be well prepared.
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Maybe at the begininig money wasn't the main interest of Bitcoin users and since they were pioneers and it was also about new technology, new concept, new way of life I would say, motives were different. In fact, Bitcoin wasn't as worth as it is today. With time, with Bitcoin growth and flud of new cryptocurrencies appearing every day I would say that money has become the only motive, at least for majority of cryptocurrencies users. Which is kind of said, I would say.
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Everything that you have numbered is correct. And I also think that many people are very well aware of these facts. Still when it comes to real situation they somehow lose common sense and tend to be very naive, not to say fullish. Anyway, if you want to avoid scams be suspicious and performe due dilligence. And everything that sounds too good to be true, it isn't true so pay attention to that.
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Since the price is fluctuating for a longer time now between 6000$ and 7000$ it looks like it's prety much stable. But in fact it isn't so and Bitcoin is volatile all the time. Still that is the price that marked this year for Bitcoin, more or less, and I don't see we will see much changes this year. Maybe closer to the end of the year but don't expect some bigger growth. But even on such small price changes is possible to make the profit so Bitcoin price is never dull.
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Altcoins are not threat to Bitcoin. In fact you can look at them as a healty competition. It's true that market is very divided and new coins appear all the time, many of them tending to take Bitcoin's place but that is not going to happen because only few altcoins are actually worth mentioning. So the affect of altcoins on Bitcoin in negative sense is actually zero.
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Some people have turned cryptocurrencies into their full time job and some are even so successful they earn more than they actually need for everyday living. Still those are exceptions and Bitcoin as a full time job is not for everyone. I think it's wiser to have some steady full time job and cryptocurrencies as additional source of profit. Thus you will be more secure and relaxed and results will be better.
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To my opinion mining is not profitable anymore, at least not for individuals. If you have a mining farm then it's a different story but otherwise not. Costs of equipement and electricity are too high compared to profit you will get and cloudmining should be avoided because it's usualy connected to scams. It's better to put your efforts to trading or some other way of earning Bitcoins but mining is a past tense now for majority of users.
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Unfortunately, terrorists are always one step ahead. If you cut them one source of finances they will find another. They are so dedicated to their dirty goal that they are ready for everything to achieve it. They are always trying to find new sources and inovative technologies including cryptocurrencies are not foreign to them. Beleive me, they have explored all the ways how to misuse everything that is available to them and cryptocurrencies are not exception.
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To be honest, buying Bitcoin is the worst way to get to it. With all available possibilities for earning Bitcoin this is something you should choose. Still, if you have some extra funds that you don't need and can afford to lose, invest it. But don't do that if you don't have some good strategy, both short term and long term and some back up plan. And remember that best profit you will make on long term basis.
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I don't know why everyone is so focused on 20000$ price, like it's some magic number. There is no chance to repeat so soon, market isn't ready and the conditions are totaly different compared to the end of last year. Let's focus more on current situation and current price to get the most out of it.
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Well, some improvements are needed but having in mind relatively short time that Bitcoin is present on the market it's functioning well. For me it's very convenient payment method, especialy if I use my Bitcoin debit card. Still not many merchants are accepting Bitcoin and that is something that should be improved in the future to be more adopted as a currency.
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Previously I had time to believe that a significant price increase would occur this year. However the situation seems to be getting worse, apparently what is predicted by the OP will not be realized this year. Maybe later in 2019-2020-2021 or 2022.
There is zero chances for Bitcoin being $50k this or next year. there is little chances for bitcoin to be $50k in 2020. Most possible Bitcoin will reach 50k in 2021. And after that happens will probably never go under $50k I agree there is no chance.for Bitcoin to reach 50000$ this or next year. This would be not likely even if the price was currently at 20000$ and at about 6000$ it looks like mission impossible. Still I don't agree that it will never go under 50000$ ones it reaches that price. Bitcoin is highly volatile and it will continue to be so it's hard to predict how the price is going to change and what factors and circumstances will influence it.
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No, this is not the case. In fact Bitcoin and PayPal are not direct competition because these are two different things. Maybe will Bitcoin have some advantage because paying with Bitcoin is more convenient and more direct but PayPal would keep their customers. Bitcoin is cryptocurrencies and payment method and PayPal is payment services that could also implement Bitcoin in their services so I don't see how Bitcoin could endanger PayPal.
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I think that in several years Bitcoin will be more regulated and therefore more accepted and adopted, especialy in different businesses and industries. Banks will no longer have view on Bitcoin like on some strong competition and threath but will try to have the use of it as much as possible and will start to offer to their clients Bitcoin related products and services In general I expect further growth and development of Bitcoin and blockchain technology as well.
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Buy if you have extra funds. Price is for a longer time now moving between 6000$ and 7000$ and it will stay so for a while, if you ask me. Still you could earn something on.a daily basis because of smaller corrections of few hundred dollars. On the long term is expected for price to go up and some are even predicting that by the end of the year some bigger price rise might happen. Invest a sum that you don't need now and you will profit on a long term for sure.
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Even if we want to eradicate poverty. If those poor people don't do anything to uplift their way of living. And they are just waiting for the help of other people. We cannot eradicate poverty.
I don't agree with theory that poor people want to be poor. But that is deeply question of sociology and psycology and in some countries people just don't have choice and they are forced to live day by day struggling to survive. It's utopia to expect for people from third countries to achieve the standard we have in the west over night. And let's be honest, developed countries are fine with that they stay poor. Some have ideas that cryptocurrencies are solution for poverty but like I said, this is utopia.
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I think you are considering good options. Both Bitcoin and Ethereum are good choice for investment that will bring you profit. Still both these investments are risky, like every other investment you can make, so I suggest not to put all your life savings into it, leave something in fiat too. And whatever you decide, divide your investment, don't put all eggs into just one basket thus you will diminish the risk.
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