I wouldn't say that Bitcoin is disaster for banks, this term is too strong. But definetely is a competition and banks are well aware of this. And this is not bad, in fact such competitive situation could bring us a lot improvements in financial world and better and cheaper services and a choice we didn't have before Bitcoin appeared. Also, to my opinion sooner or later banks will embrace Bitcoin and offer Bitcoin related services to their clients.
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To my opinion this is pure waist of time and resources and the final result it's not worth mentioning. Mining as an individual is not profitable anymore but still many come to idea to mine with their mobile phones or even TV. It's good to know how much possibilities technology gives us but you have to be reasonable and profit oriented when choosing what will you use otherwise you will find yourself in loss.
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When speaking of constant changes, Wirex is realy special. About week ago I received the notice that they will no longer provide cards for my country but existing users will stil be able to use it. Yesterday I received another notice where they say Wirex will provide cards for new users afterall and all services including Cryptoback will be available again. How strange is that? You never know what can you expect and I don't like so much uncertainty.
Hmm. That's definitely not too reassuring. I think I'll continue refraining from going all in then. I hope people operating stuff like this realise how much disruption they cause if their service falls apart. If they can't absolutely guarantee it then they shouldn't really be offering it. Ecactly. Having in mind past experience and changes of terms and service that happened without announcement I'm not sure how much can I trust them again, that their service will be solid and without further surprises. Of course, they say it's not up to them but up to.Visa but like the service provider they should ensure the best possible service to their clients. I'll continue to use Wirex but at first I will be careful and will not load my card with too much funds, just necessary to spend until I see how it will go further.
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At the moment it looks like the strong downfall has stopped but that still doesn't mean that corrections are over. Just at the first glance it looks that market is more stable now but this can change any time so it would be wise to use to buy more coins. The correction will not last forever so be prepared when the price start to rise again.
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Bitcoin can't be regulated. Period. It's very simple. Nobody own bitcoin or stand behind bitcoin. There is no bank or any government behind bitcoin. In fact, nobody control bitcoin.
Regulation is not about Bitcoin control, this is wrong attitude. And many posts here prove that many users don't have the clue what regulation means. It's not control, it's not centralization and it's not ban but bringing some kind od legal order and defining what is allowed and what isn't, it's about to bring some legal security and back up to businesses and individuals who use Bitcoin. And it's completely wrong to say that Bitcoin can't be regulated because many countries have already done that.
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Bitcoin relys on decentralized system and it's not depending on fiat currency in any way. But Bitcoin needs some referal value to be compared with and to determine the framework of its value. But this is the only way that Bitcoin and other cryptocurrencies are tied to fiat currency economic system.
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It's such a shame that we still don't have reliable and stable Bitcoin debit card provider and service that will not constantly change.the conditions without any warning. Will that ever change?
All the ones so far available to Europeans at least seem pretty lashed together. Coinbase and Bitpay cards in the US seem rock solid. I presume that's because they have a more direct relationship with Visa rather than going through some barely known third party. I've read that Wirex have a three year deal with this card provider. I still wouldn't have a huge amount of faith it's going to last the distance. When speaking of constant changes, Wirex is realy special. About week ago I received the notice that they will no longer provide cards for my country but existing users will stil be able to use it. Yesterday I received another notice where they say Wirex will provide cards for new users afterall and all services including Cryptoback will be available again. How strange is that? You never know what can you expect and I don't like so much uncertainty.
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This is a question of someone who isn't involved in Bitcoin too long and obviously isn't aware of price movements over the past years. If you look back you will see periods when Bitcoin was worth only few hundred dollars. And it's not only 20000$ price that matters, like some obviously think. Besides, Bitcoin is not all about the price, it's the whole philosophy and lifestile that stands behind it.
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It looks like 20000$ is a magic price for many users. Still having un mind current situation and movements on the market it's not very likely that Bitcoin will reach 20000$ again this year. Although we know that Bitcoin could surprise us easily I think that reaching that price would be too big jump and it's not very likely to happen.
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It looks like everyone is waiting for SEC and having big expectations. But this can last for months. And this current situation on the market that looks like it's stable it's actualy not, it's just a moment before the price will move, volatility can't be denied. There is no guarantee that SEC decision will bring some good news or market explosion so don't rely on that too much.
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Unfortunately Venezuela has so bad economic and social situation so I don't see that their own cryptocurrency could help them to solve this. It's more likely that the aim of this crypto will be some kind of self promotion of president Maduro and some attempt to show the rest of the world how progressive he is. But this will not work.
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It's not true that market is constantly falling and day traders will always find their niche for profit, they just have to be present all the time and react quickly. Maybe it looks like holders have some kind of advantage now but everything is in right timing and good balanced strategy so I beleive day traders can benefit good too.
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Bitcoin is no threat at all to any country or national currency. Bitcoin is and will remain cryptocurrency that will not become mainstream because of the structure and the way it's functioning. So, Bitcoin is alternative to traditional currencies and economies but it's not endangering them. However, Bitcoin is kind of competition for them and this is the good thing because it can move different kind of changes.
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If I can do both I think it will be better, both have different risks and of course gambling has a greater risk. In trading even though you lose but you still have a few percent of that, in gambling if you lose then it will go away without anything left in your wallet. So if you don't want to take risks then it would be better just to trade.
I wouldn't completely agree with that. Trading could be also very risky without any guarantee that you will profit anything and in trading there is also possibility to lose everything. But still to my opinion trading and gambling are two different categories and despite some similarities I wouldn't compare then. But it's only up to you how will you handle the risk and in both, trsding or gambling, you have to know your limits and how far can you go.
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Personaly I haven't suffer any damage but probably this is because I'm involved with Bitcoin quite a long time, I have enough experience and I've already seen all sorts of situations that Bitcoin went through. I don't panic sell, I have enough patience and know when it's the time to make decision. And I.known my limits and my final goal. But I.guess you don't come to that over night and it takes time. The more you listen to your head and common sense instead of your emotions, the less damage you will experience.
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This is no surprise at all. Many have gone bankrupt and many will. The main reasons for that are investing without enough knowledge and experiences, not enough information, too much eager to get quick profit, lack of investing strategy and trying to recover loss quickly getting into biger losses. Many investors are not aware of the risk they are taking and they overestimate their possibilities, it could be dangerous combination.
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I don't think such possibility exists at the moment and there is no place for panic. Currently Bitcoin price is about 6300$ again. So, Bitcoin is highly volatile and the price is going back and forth all the time. Why such drama and panic every time when price goes down? Use your head instead of emotions and be reasonable. This is the period when the price is very unstable, it will not rise significantly so use this to buy more coins instead to spread the panic.
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Always the same old stories, whales are guilty for the low price and market recesion. But do you realy beleive that handful of users could influence the price so significantly? I don't think so, there are also many other factors that affect price besides whales and their greed. Lately this could be SEC delayed decision about Bitcoin ETF. But the fact is that Bitcoin price is very complex and many factors influence it, you can't judge on situation so narrow.
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Currently the price is above 6000$ again. Some say that if the price falls under 5500$ the dump will continue and it's not sure where the limit could be. Personaly I don't think that price will go that low but for a while it might stay around 6000$ without further progress. This year there will be no skyrocketing. Max.price that Bitcoin might reach by the end of the year could be somwhere around 8500$ to 9000$.
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This drop is not significant and there is no reason for panic. If you don't realy need fiat money, don't sell. This is just usual correction, nothing serious is not happening with Bitcoin and the price will recover, just be patient for a while. In fact if you have some extra funds invest it further to Bitcoin, this would be good choice.
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