1. Do not remember electronic wallet password 2. Do not back up your wallet 3. Do not research new services 4. Buy and sell based on feelings 5. Leave your money in the electronic money floor
Most of the time we have seen bitcoin user also doing mistake which is panic selling, one more mistake i wanna add here saving the pass phrase for changing the password. Most of people trading bitcoin as a short term investment
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We have seen bitcoin condition in developing countries are neutral phase, govt. does not even declare it legal or illegal . So i think developing countries govt. is looking for an opportunity for legalize bitcoin inside the country. Clearly we had seen recently in Indonesia They legalize the crypto asset inside the country.
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Actually There are only 6 -7 coins which are in my mind because of their market cap. from these coins bitcoin has more dominance on other coin. Why i say dominance because when we saw bitcoin had decreased other coins also decreased their value. So for getting more return on investment i would prefer Bitcoin over any other coin.
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Bitcoin can never compete with banks because banks are still having trust from its consumers and it has third party ( regulatory authority ) for solving issue if any persist but in bitcoin no one can help you to recover funds if something bad happened .
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There are traders who are investing in bitcoin because they want to gain profit from it. let's suppose if bitcoin does not has stability and it falls down everyday, than who will invest in it. obvious no one want to invest. this is why stability of bitcoin is important investors points if view.
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Actually BTC has more dominating power over any other crypto currency so ETH is also well known crypto currency because of its ERC 20 tokens compatibility blockchain. Going down ETH is just on temporary basis. After trading banned in india we have seen bitcoin price was slashed down to 5400 usd in one night but we had not seen such changes in ETH price.
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Banning bitcoin is just really bad step taken by govt. i think govt. has feared by crypto currency. Government want control over the currency but they can't take control because of decentralization system. that's why government see bitcoin as an option for defaulters' who want to convert black money into white.
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Earning BTC is not an easy task now a days, we have seen people are now a days doing mining, signature campaign trading all that things to make some bitcoin from it. but only few are being succeed in this actually. so i can suggest the way signature campaign to earn bitcoin out from it.
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There are many reason this shows importance of bitcoin --- 1. It is using in cross border payment. we can send payment everywhere around the world within seconds. 2. Provides security more then any other medium to send payment. 3. Transaction has recorded in records permanently no can change that because it is running in blockchain technology.
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yes Bitcoin actually help to improve buying power of people who are working in crypto industries when it comes to employment, Yes crypto is providing employment to thousand's of people because we have seen there are many exchanges, on backend people are working. and Blockchain technology is also on growing stage and people are looking for career in blockchain. we can say that bitcoin is helpful for decreasing unemployment rate in the world.
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Actually Bitcoin has totally changed my lifestyle. Being a student it give me opportunity to explore career in blockchain technology. Earlier i was thinking blockchain was only use in crypto currency but after some times i got to knew application of blockchain, Now i am many idea in my minds and will come soon with idea which will totally running on blockchain. TBH we can say that bitcoin converted me from ordinary student to entrepreneurs thinking student.
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First of all we have to regulate the bitcoin before considering it as a legal currency, because no govt. want any decentralize currency as a legal tender. even japan has regulated it. But if it is legal all over the world then price of the bitcoin is getting too high because demand will be more and supply will be less. and one thing more govt. can able to control inflation rate by using crypto as a legal tender.
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I was recently done analysis about Bitcoin contribution to the world wealth. Here we cab't talk about only bitcoin because we have many kinds of crypto currency. So crypto will change the wealth distribution in the entire world in future. But Central bank will not want to give authority to P2P network like blockchain technology . I think it will be regulated first before implementing to the economy.
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So, I went through BESTMIXER project and i got to know many facts about BESTMIXER i.e. It is the only mixer which is working totally anonymous without knowing any third party. BESTMIXER is all about mixing the coins for customer point ofview with very less fee as compare to others. Obvious it is blockchain technology we have to trust them for faster transactions. BESTMIXER is providing anonymous storage for example -- No one getting to know that you have account on any crypto wallet.
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Yes bitcoin is really secure Because technology running behind it is blockchain technology, and algorithm which it is operating SHA 256 which is very very very difficult to hack. Let's have model of How blockchain works --- For example -- I have my public key and private key with me. it means i can only have access of sign in / signup of an account. If somebody want to hack my bitcoin transactions than he/she needs to have 5/6 super computer with him, this won't be possible.
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Based on news you can see ETH is most popular coin after bitcoin and reason is this, it is based on Blockchain technology Smart contract with ERC based token support. we can observe how many ICOs are running on aside which is totally based on Ethereum blockchain technology under smart contract tech Actually ETH gives us open source algorithm.
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If i have to choose From these two then i would go for electronic money.reason is only that we all know, now a days world is changing towards internet and everything goes online. People do not want to carry cash with themselves, they rather prefer Credit card, debit card or E- Wallets. I think paper will be disappeared.
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Crypto can be both, For example if company starts ICO, this mean they will use crypto as a asset to meet the capital requirements for starting business. crypto can be used by both the way. if you are living in japan then crypto can be treated as a currency, you can use it for exchanging goods and services. Some countries allow crypto for trading purpose only mean people can use it for capital gains, this mean they are treated crypto as an asset.
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I think there is misconception about the cryptocurrency application, if we talk about Japan, Australia, South Korea. Actually these countries have seen potential in crypto currency and even japan has announced bitcoin as a legal tender inside the country. I think some of countries has threat, their citizens can use crypto for illegal transactions.
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