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I'm not sure what will happen with bitcoins that are stored and no longer retrieved after a long period of time. Does it depreciate? Go stagnant? Its probably advisable for us to keep our private keys ina safe place and entrust it to someone we can rely on, possibly someone with knowledge about bitcoin otherwise it would be useless. Storing it in a usb in a text file or something could probably do the trick, but if it were to be left with someone who doesn't know bitcoin, then instructions should be provided.
So what does happen to stored bitcoin that can no longer be accessed?
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Yes because Bitcoin is like money, and money is a medium used for corruption. Actually it will ultimately depend on the user. Anyone can use it for good, while others may use it for illegal means. Since Bitcoin is not traceable, people may think of using it for illegal activity since they may get away with it. Or they could use Bitcoin for money laundering acts. These are just some of the corrupt practices that a person may do with the use of Bitcoin.
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I can see that people nowadays are busy searching on money and everything depends on money. People nowadays never go to church just because they would rather earn money rather than praise God. Others do not pay respect to elders because they earn money for them or richer than them. Well for you, is money above all things ?
This seems to be one of those dilemmas that i took in a personality test - would you rather be the richest person in the room or the most loved? And to me, i would definitely go with the latter option instead of the former. Money can buy you friends but when that money runs out, your friends will leave you. A relationship based on money is definitely not a very healthy one. The study of economics defines money as a medium of exchange. The problem with people that you mentioned in the OP is not money itself. Without money we'd still be stuck with bartering and that wouldn't have triggered all the industrial revolutions and all that because we can't even trade efficient in society. It's people's greed, it's innate to be greedy, for humans. Well the world is very money dependent and you wont be able to survive if you dont have any money but we should remember that money cannot buy everything. Because of people's desire for material possesions, people become greedy and powerhungry. We shouldn't put money on a pedestal because there's more to life than that. Also, money is not the problem but rather it is the system and society. It has brought us to be money seeking and greedy beings, in order for us to survive in this kind of community. |
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I have been making an analysis about how people is getting real rich thanks to the increse of BTC and it is amazing to think that people are getting real rich, lets hope and this will continue so the people that holds very little BTC also gets rich.
This is the analisis I made:
On February 1st 2015 you will need 4,219 BTC to have 1 million USD, now that is worth: 10,125,600 usd
On Febraury 1st 2016 you will need 2,681 BTC to have 1 million USD, now that is worth: 6,434,400 usd
On February 1st 2017 you will need 992 BTC to have 1 million USD, now that is worth: 2,380,800 usd
Today you need 404 BTC to have 1 million USD ( the person who has now 404 BTC it is millionaire, and in Feb 2015 just had with the same 404 BTC 95,757 USD
That is amazing.
I wonder what are the new rich people doing right know? have they realised that they are rich yet.
Bitcoin hunters who have long plunged into the bitcoin world become very rich but do not even realize it does not recognize their wealth because of dissatisfaction, and it is our duty to fight to follow their footsteps without knowing for sure what will make us stop and return. When Wealth has dominated our lives. It may also depend on the exchange rate in your country because the value of bitcoin is not the same in different countries. Looking at the rates then its crazy to imagine how much they have if they still hold their bitcoin. Just now, the price is skyrocketing so for those who were able to buy bitcoin at a much lower price, then they are lot richer now. |
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I will probably save or hold it, because I can see that the price is increasing and in the future, its value will become very much higher. Or if I find a good investment that is worthwhile and has the potential to grow then I will use my bitcoin there.
Unless I have an immediate need I won't spend bitcoin because I believe that its price will continue to increase in the future and so I will just save it.
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Is doing something like this really effective? if it is then other should continue to promote bitcoin and spread awareness about it. I think that putting up the 'buy bitcoin' sign will confuse many people especially those who do not what bitcoin means. Promotion of bitcoin should be done in social media platforms such as facebook and twitter, and educational campaigns should be done for the new users.
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Advisable bang mag trading? Nag aaral palang ako kung paano mag simula sa trading at ano yung mga dos and don'ts, pero sa tingin niyo ba na maganda talaga mag trading o kaya bumili ng mga iba't ibang altcoins? Sustainable din kaya iyon?
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Yes, I think that investing in an ICO is a very good investment also there are many ways in participating in the bounty campaigns, there are many social media platforms to participate in. Before investing in an ICO, you should check the white paper first and assess from that whether the coin will be profitable and the project will push through or else you will lose a lot of your time and effort and won't earn anything at all.
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Syempre gusto ko sana ishare 'to sa kapwa kaibigan at pamilya ko kasi nalaman ko lamang 'to sa pagshare din sakin ng kaibigan ko. Kung hindi dahil sa pagshare sakin ng kaibigan ko, wala ako dito ngayon at hindi ko ito matutuklasan o malalaman. Kaso ang hirap din kasi iexplain sa iba ito o kaya pag iisipan ka pa ng masama ng iba kasi nagmumumkha kang scammer
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I suggest that you learn and learn as much as you can by gathering information here in the forum. It helps a lot in trading to be always updated by learning more. You can make more educated guesses of when to buy and sell if you learn more about the coins you intend to buy. Also, look at the past price charts. You can probably guess whether a coin is good for long term investment by looking at it.
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I would invest in bitcoin had I known about it sooner and other young people should know about it as early as now. Hopefully if bitcoin continues to increase and grow then maybe your vision will come true. It would be a big help if young people who starts earning bitcoin have the capacity to pay for their own studies and expenses then become financially independent.
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Cool way to promote bitcoin but I think some people will get confused first when they see the sign because they dont know what it means. It can still work because people will get curious when they see the sign and maybe they will ask about bitcoin or do research. Its also good that they did it in the dots intl tournament bec the people there should be using bitcoin more.
Lets continue to promote bitcoin so that many others will start using it and bitcoin will grow in many other places.
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Yes I think its possible, the government in a country can choose to have all websites in relation to bitcoin to be blocked. They have the power to do so. They can probably even prevent all exchanges to have bitcoin exchanged to their local currency. A government can declare bitcoin or cryptocurrency as illegal then users will have to find ways to transact under the market and public eye.
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You mean that's passive income, because you gain income even when you are not doing anything. Just hold your btc and it will grow because the price is getting higher and higher, so the interest rate is very high. As said by others getting a job is the best way to have steady income because it gives you fixed salary. Invest maybe in an ICO which you think can be successful, then it can give you passive income if ever.
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Totoo ba na meron sa makati? Astig nun sumisikat na pala ang bitcoin sa pinas, madami kasi siguro na users na talaga. Marami kasi akong nakikita sa forum. Kaso balita ko mataas ang mga fee sa bitcoin atm at matagal confirmation time, mas mainam pa yata gumamit nalang ng exchange wallet eh.
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It is better to invest than to save, because when you invest your money will grow even if you are not doing anything as compared to saving, your money is just stagnant and the interest rate is very low if you just put it in the bank. Just think of it that way. There is a risk in investing, but for me there is more opportunity to earn in investing. Invest a portion then save the rest if you want be on the safe side.
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Don't regret it now when you are already starting now to invest in Bitcoin. Many other people still don't believe in Bitcoin right now, even when the price is very high. Maybe back in 2009 I would not have believed in Bitcoin, everyone can make mistakes. Spread the word about bitcoin to your friends so that they won't regret also in the future.
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It was rude of him to mine Bitcoin while he was at work, and used the office equipment and internet, most of all their elctricity. I would have posed a higher penalty on him if I were his boss though. I have no problem with bitcoin mining but this should not have been mixed with his work, he could have done this at home. This is an abuse of his office and is very unethical as an employee.
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