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truly a decent inquiry, I like a similar inquiry is the reason on the grounds that dilingkuangan. I meeted banya once who asked this to me, I once disclosed bitcoin to a companion deket my home, and he addressed it's betting open, and I answer again this isn't betting bitcoin companions are computerized monetary forms, so here we work searching for coins for instance we join this gathering and we take after the current ico dibountis, so like that companions don't misunderstand any.
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Although Bitcoin is slowly growing in popularity, despite all of its various problems, there remains a certain psychological security in a currency held in one's hand. Moreover, fears of hacking, viruses, and other attacks on the entire financial foundation of a nation via purely digital means will likely make most nations slow to adopt such a form of currency.
Bitcoin is not slowly growing in its popularity. It becomes more popular than before. The important thing to know about bitcoin is the characteristics, the benefits, and its advantages. The first reason that Bitcoin has a vast advantage over newer cryptocurrency is their network effect. What if you are a buyer o seller? What will you choose? A bitcoin or other cryptocurrency like litecoin? Because of the power and popularity of bitcoin, you/they will choose bitcoin. The stability is one reason why they choose bitcoin. Bitcoin will not be replaced by another cryptocurrency. Nothing will stable in the real world, who knows coming days the Bitcoin price may go down and it will go below 100$. We can not predict the digital currency market. Anything can happen in this market. But as per now, the Bitcoin is ruling digital currency world. And it reached the highest value. No other crypto will reach this price. So the bitcoin is famous. A few ICO ventures have been existing in light of the blockchain stage. Among every such venture just not very many are fruitful because of the uniqueness. Most activities don't move further to the following level. So nowadays just the coins that have long time survival like bitcoin, for example, wherein or Monero develop conceivably. Yet, this won't supplant bitcoin as bitcoin remains a few stages ahead. |
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Fiat cannot be replaced by bitcoin. Even in developed countries like US, people are not totally converted to digital transactions and fiat is used still.Most people in developing countries dont even have a bank account. They dont know how to use a credit or debit card.Indian government tried to convert people to digital transactions by demolishing high value notes and people suffer a lot there. So fiat cannot be replaced, but bitcoin may become as a secondary payment option.
I agree and most likely that is whats going to happen here. For me bitcoin can't survive by itself at this time without fiat conversion. Most btc transactions are still converted to fiat. People are so used and reliant to this main currency that it would take i think more than a few decades before bitcoin could even compete with fiat in supremacy. Though as you've said it would be very beneficial if it could be a secondary option much like how we use credit and debit cards today Many users convert Bitcoin to Fiat because they have no other options to spend their money. If you ask these users what they would prefer, most would probably say that they would like to use Bitcoin to pay the daily expenses. Some users say that Bitcoin is unstable, and this is true to a certain degree, yet many people prefer to store value in Bitcoin than in Fiat currency, especially in countries where the local currency is very unstable I'm not sure of that In fact, I'm very dubious that people would actually want to pay with bitcoins for their daily expenses unless they wanted to show off (which is not a good idea either). Folks may have to convert Bitcoin to fiat having "no other options to spend their money" if they literally had no other option, for example, if they had no fiat in their pockets. If you ask me, spending precious bitcoins on trivial things is a downright stupid idea since Bitcoin is a much better vehicle for speculation than fiat as well as a store of value I agree with you mate. some people don't really use bitcoins as a mode of payment or use as for their daily expenses4.. they would still prefer to convert their bitcoins into cash so they can use it in stores or groceries. That's what I always do. actually in most of the area people still do not have the facilities to use bitcoin for shopping, although they can use it online easily as most of the stores now accepting bitcoin for shopping, but in local shops the shopkeepers actually do not have any idea about bitcoin therefore they are not accepting bitcoins in their shops, but hop that in future when they will understand bitcoin then they will surely start accepting bitcoins. It appears like Bitcoin can't make due without Fiat, as opposed to the a different way. I went by various Bitcoin-based locales, for example, Bitify and Bitpremier. Despite the fact that the stock is recorded in BTC, their costs depend on USD. At the point when the conversion scale varies, the cost in Bitcoin likewise changes in like manner. If so, at that point by what method can Bitcoin wind up noticeably free from fiat? |
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I think in spite of the fact that Bitcoin is gradually developing in prominence, regardless of the greater part of its different issues, there remains a specific mental security in a money grasped. Besides, fears of hacking, infections, and different assaults on the whole money related establishment of a country through absolutely computerized means will probably influence most countries to ease back to receive such a type of cash and Good point. For whatever length of time that many individuals still accept and put resources into bitcoin, it can never go down.
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As of late in my nation jobless individuals have more prone to pick procuring bitcoin instead of physical employment since they should simply just remain at their PC and they can beginning to gaining bitcoin with numerous path, for example, exchanging or whatever else so even not huge impact but rather bitcoin has help them for their financial side and in a roundabout way bitcoin additionally as of now enhance the economy in my nation.
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The miners mine and hold, other mine and sell.
Investors and speculators buy, hold and sell.
You can buy random items in auctions and through the forums.
What are the reasons for the bulk of the bitcoin transfers? I read an article underlying the "dark side" of the internet and TOR network, and they seem to point out that bitcoins are now nearly the exclusive currency for the online "black market" (Note, they are not saying bitcoins are exclusively used for black market transactions)
What have you used bitcoins for?
Miner
Investor
Black Market
Other - explain
im using my bitcoin to pay my rental , phone, internet and utility bills through online. im also a gambler that spending almost half of my earnings for betting into sports. Soon im planning to build a mining rig to mine some coins. i am using bitcoin for buying cloud mining in the last 2 year, beside that i am using bitcoin to pay utility bills too like you. bitcoin makes my life easy because i can pay without having to go out from my home and i only use scan QR code with my android phone and send the amount to seller. the other thing that i used bitcoin is for investment for my future so i hope with bitcoin, i can make big money in future. I save the bitcoin. since I do not feel the need to spend it since the mercedes that I have satisfy's my needs and I truly believe that it would worth so much in the future so might as well let it stay. Surely we will reap a much larger fruit in the future if we wait for it to grow more. I use Bitcoins to gamble, because i like anonymity too much and wanted to keep my transactions and bets private. Always used mixers mostly to sell my bitcoins to anyone and optimized Bitcoins with its best use and I feel great to have it when Bitcoins helped me to marry my daughter with a reputable person. |
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That matter's on how much bitcoin you have. If you think you have made enough bitcoin to spend it, you totally should. Otherwise i think it's smart to save it and wait for the bitcoin to rise even further beyond.
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wait some airdrop on bitcointalk or do some bounty campaign is a good way to earn bitcoin without invesment. But it's look like work in real life
what do you mean by airdrop? I think the best way to earn some bitcoin is betting. That is how i made a lot of bitcoin. But it is very risky ofcourse. |
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I use bitcoin to buy a lot of stuff i want. And i use it to trade to make profit by selling it again.
Also i save some bitcoin and wait for the value to rise so i can sell it for more bitcoin
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I think its a good idea. Because bitcoin is still growing. But what i would do is wait for the value to drop and then buy som crypto.
this way you will will get even more profit than u would do if you invest now.
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actually, before the existence of bitcoin, criminality in the virtual world is already very much happening, but with the bitcoin is increasingly becoming a big chance for criminals to act, examples of the biggest things such as drug trafficking, weapons, women, and children. but not only that, people like state officials or other wealthy people can use bitcoin as a money laundering place
I agree, a friend of mine was talking with a criminal on the web like a year ago. He was trying to scam him. He failed and then tried to hack him. but my friend knew what to do so he failed again. for my friend it was a funny experience. i thought it was terrifying. |
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I don't think it will replace the dollar at all. I think t will just be a other paying method to buy some stuff.
Because it has a really high value so you would have to buy things by card.
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When you really try hard to make bitcoins. Like 1 bitcoin a month its enough to live with. But otherwise i should just keep working.
because with work you can like make around 3500. And if you can make 1 bitcoin a month its like 4500.
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1. From the internet.
2. Family and friends.
3. Social media.
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I agree with you
If the taxi payment can already use bitcoin I can drive a taxi with the balance of bitcoin in the wallet tampa must first exchange with rupiah.
I think its a bad idea because how will you fee the taxi driver? And it takes much longer to pay with bitcoin. Because bitcoin is only online money there is no coins or papers for it yet. |
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Before bitcoin I and many of my countrymen were unable to transfer, receive or buy things from other countries as there is no such (Paypal etc) facility available or you were have to use bank wire for which you have to wait for long time and pay huge fees. Now it is very easy to transfer/receive money with bitcoin without delay and with less fees. So for me Bitcoin is the best instead of cash.
Well i think it is better to have cash because a lot of people dont want to sell their stuff for bitcoin, because some dont know what it is, and others probably think you are scamming them. |
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If you hold bitcoin for a long time i think its going to be worth more than it is now. Because it is very popular.
The same as if you hold gold for a long time.
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You can never say never but i'd highly doubt it will become the worlds currency! Certainly I think it will continue to grow in technology, use and awareness but I can't see it being the world's currency personally.
why do you think bitcoin cannot turn into the worlds currency? Bitcoin is very popular at the moment. and the value is still rising. i personally think it might even reach 10000 dollars in about 10 years. |
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Every time bitcoin drops, it goes back up to even higher than it was before the crash Every time it goes down or I hear bad news I want to buy more.
Yes it does. But i dont see there is any bad news. Because the value has only been rising. I dont see it go down to like 100 dollars, its still above 2000 dollars worth. |
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My predictions on bitcoin is that the value will rise to over 8k but will also go down again.
and i think bitcoin will get really popular and a lot of people will use it.
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