This depends on the wallet provided you have in your country and also subject to the existing laws. Fortunately, the Philippines has a cryptocurrency wallet used by most Filipinos and there are options where you can convert your coins to various options, such as for online games, monthly utility bills, transportation fees, or through bank deposits!
The problem with bitcoin used as a payment is its slow transaction fees in the blockchain. There are also mining fees where you are obligated to buy and it may get out-of-hand when prices of bitcoins suddenly skyrocket (which what happened last year).


It will be accepted but be open to the possibility that it may also decrease depending on the prohibitions imposed world-wide. If on an international scale they prohibit the utilization of such, expect services to be eliminated slowly.

Being a trader, you need to actually experience in order to grasp the processes. It may be relatively difficult for someone to learn trading by just reading the theories and studies since what separates a good trader from a trader is the experience AND OPPORTUNITY. Another thing, being a trader means that you understand all the risks that you are getting to.
I know someone who is trader but only as a part-time job. From all of his earnings, he was able to establish his own book travelling business and eventually became a millionaire. But before he became successful, he risked most of his millions and losing some in the process.


It is kinda stressful, you know? Being able to predict the prices in a short-amount of time, keeping your soul and mind together when you lose most of your investments, and having tremendous patience when waiting for the process to mature are one of the things that a trader has to go through!

Yes and no.
Indeed, it may be the best time to gamble as the prices are low in the market but the nature of gambling revolves around luck and odds. Despite having the prices low in the market, gambling is very unpredictable as the profit that you gain revolves around the odds. Not to mention, it is very contagious as one may get addicted to gambling due to the negative repercussions it give to the individual.
Lastly, regardless of its price being low on the market, if you cannot control the urge of gambling you will eventually lose most of your resources.

I do not fully agree.
Having a weak economy has its negative implication towards its development in infrastructure, innovations in technology, and corruption. Assuming that a country is underdeveloped, its resources are allocated into an hierarchy of needs, which I believe that cryptocurrency is under. They must first tackle the the issues in their country which are more prevalent, rather than changing their payment system. In the event that they focus into changing their payment system, this will lead to catastrophe in the market, considering that most hegemonic countries are against the utilization of bitcoin.

These are some of the factors on how bitcoin's value would dropped significantly and eventually become obsolete:

• Assuming in an international scale, governments would impose strict laws, rules, and regulations against bitcoin, attracting new investors and retaining old ones would be a problem;
• If the existence of an innovative coin, following the blockchain tecnhology, rises up in the market and overtaking bitcoin as the reigning cryptocurrency, most investors would pull-out their investments towards this new coin; and
• If bitcoin's price become stable due to intervention, people would rather invest into different mechanisms than bitcoin.

Despite mentioning those hypothetical situations, I doubt that bitcoin will become irrelevant and obsolete soon due to its benefits to the society and the government. Some countries in Asia are starting to adapt into its implementation (like Japan) since they see its potential to the economy.

This heavily depends on the country where I am staying at. Assuming that my country exhibits acceptance and leniency towards bitcoin, I would ask my company to at least convert a partial of my salary as bitcoin though not everything. One thing to keep in mind before accepting bitcoin as a salary is its volatile and decentralized value. Currently, there are no laws catering to tax imposition to bitcoin and that would lead to another problem regarding income tax. Lastly, the value of bitcoin may change everyday which makes your earnings sensitive in its price.

If establishments and retailers begin to accept bitcoin as an alternative payment, receiving bitcoin as a partial of your salary may provide convenience into paying bills and monthly obligations.


Agree. The acceptance of bitcoin as your salary depends on cryptocurrencies' legal status among countries. If their existence is prejudicial and a threat to national standards, then imposition of world-wide bans may soon follow.

Every individual has their own way to cope with their losses. Whether it may be by drinking beer, gambling, weeping, etc. all of us have their own unique sense of coping and if it works, then why stop? Due to our losses, it now creates this connotation wherein people should avoid doing their past mistakes that led to the failure of their investments.
Personally, I read investment books or walk on a Sunday afternoon in order to mitigate the pain caused by my failed investment strategies. Well like what they say, what does not kill you makes you stronger!


All of us need time in order to cope for our losses, especially when we're talking about large amounts of investments wasted due to negligence or being irresponsible. You may be right that everyone of us needs to move on but let time do the work in order for us to move-on completely.

The problem with gambling is that, people are so inclined into earning profits that they would resort to the easiest way possible though dangerous. Gambling tends to create this illusion wherein people are stuck on this paradigm cycle where they gamble despite winning or losing. Let's take that into detail:

If A gambles and wins, - it is highly unlikely that he/she will stop.
If A gambles and losses, - he/she will try to recover those losses by gambling again.

There exist this conundrum wherein people are stuck on this cycle. Though there are also factors you need to consider, most individuals gamble due to either for entertainment or they are experiencing financial struggle. This leads us to the question of: is gambling part of someone's culture despite its negative effects?
Well I cannot say but it all leads to one thing- it will slowly destroy one's life without the proper discipline and self-control.

Investments are all about timing and luck. When you investment, you must understand that the money that you are willing to risk is the money that you are also willing to lose in the event that the market falls. That is why, it must be thoroughly planned-out and a contingency plan must be made in order to avoid risks of losing everything. People who have investments know that they must diversify their resources in order to mitigate the damage of losing everything in one go.
For your question, I would be faithful to bitcoin and still choose to invest despite the prices increasing/decreasing in a small margin for various reasons:

• Recent news have mentioned that universities are starting to accept bitcoin as a business degree in their curriculum;
• Bitcoin reigns as the number one cryptocurrency in terms of market supply and price;
• Though there may be strict laws/regulations, it still remains to be tax-free in some countries; and
• Japan would likely develop further enhancements and breakthroughs in the blockchain for the success of bitcoin.

With this being said, I believe that bitcoin prices would skyrocket or at least increase in the near future, perfect for short-term gains as compared to other investment mechanisms.

People learn from their mistakes. It is very unlikely for someone to experience the same mistake over the same problems. With big losses in a trading investment, people should take the necessary steps and solutions in order to prevent it from happening again. Famous investors and billionaires all started with one thing- THEY FAILED with something which involves money, whether an investment or a business venture.

It is indeed painful and heart-wrenching for someone to lose their investments especially when it involves large sums of cash but what separates millionaires from commoners is the attitude towards their losses. All of these are challenges that one must experience. Failure is inevitable but success is always achievable.

This is excellent for the cryptocurrency world as it may hone students to develop further enhancements and future developments in order to improve the blockchain technology. Offering a degree with business related to cryptocurrency is one way to highlight and spread the knowledge of it to the world. We could say that this is a one-step progress and is a win-win situation among the society and bitcoin itself.
Though one problem that it might face mainly revolves around the government itself. The future of bitcoin is still unlikely and unreliable, as the government might impose rules/regulations prejudicial to its existence.

In the event that countries would declare bitcoin as a contraband, that degree might be useless and immaterial. They must have at least a contingency plan about the possible hindrances it might face.

The list that you provided summarized the steps where an individual must follow in order their investments would not fall in the long-run. Though you have provided ample information and stern techniques, people can also invest as long as they have the means and capacity of doing so. Meaning, as long as they have can sustain their investments financially and they have the right discipline/attitude towards their investments, they would at least lower the risks of losing all of their investments.


People who do not know about the basics of investment and the background about the nature of the investment tend to only focus on the profit side, rather than understanding the big picture. Usually, these types of people tend to fall short in the long-run due to their greediness and lack of understanding in the market. Whereas people who at least are knowledgeable about cryptocurrencies/bitcoin has the opportunity to predict price dumps or skyrockets depending on the market supply and new circulating throughout the media.

Oh sweet summer child! I remember my first gambling and it involved in-game currency in Dota 2 around 4-5 years ago. When Dota 2 was relatively new, the main currency for trading revolved around 'KEYS' for crates. My friend told me this betting website wherein you may have the opportunity to earn 5-10 keys per day depending on your luck (like any gambling advertising). I first started trading my 15 keys and luckily, I managed to win up to 30 keys then it all fell apart from that point. I started to continuously lose until all of my keys are gone!

The problem with gambling is it creates this endless illusion of an individual gambling in order to recover his/her losses. It tricks and manipulates the brain to gamble more despite winning or losing due to greed. From that point, I understood the implications of gambling and its detrimental effects to the society as a whole. That is why gambling can never be profitable!

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My campaign will end tomorrow, hoping to participate soon! Thank you very much!

This actually depends on a lot of factors, mainly:

• Do you have the capacity to invest money and bear the huge loss in case of a market crash?;
• You must do your homework before investing by checking news circulating about bitcoin;
• Before you invest your resources, consider it as money that you are willing to lose to at least mitigate the damage; and
• If you have the means, then why not? Investing into bitcoin is always a high-risk, high reward system

Though there are other reasons, personally I suggest that you must do your research brfore investing and avoid rushing as this tends to lead to your investment’s downfall.

I profoundly agree. Nowadays, the bitcoin community has been focusing on acquiring wealth to the extent that it actually affects the community in a bad light due to competition and hostility rather than building and supporting each other. The existence of new coins in the market tend to create a stigma to the community due to the recent scams and robberies made to the people.
Change is something that cannot be forced upon people as it requires self-inspiration and realization in order to work. We tend to focus on the big picture of earning large amounts of cash or having your own business but we forget to LOOK in the small picture, which is us.


Though it may sound good, I see it as something that is very idealistic. We strive for a perfect world wherein corruption and violence were to be eliminated but these are inevitable for us to experience. The existence of cheaters and spammers reflect our society and the world we live in. Though there may be no perfect system, a strict or regulated form of rules may do the trick but this may cause dismay in acquiring new investors as they may be disheartened.

Some people considers on using that as a technique in order to mitigate the damage emotionally and psychologically. Well if that method helps you in at least lowering the damage caused then why not?

Relative to the price you acquired your bitcoin, I still encourage you to check the price from time-to-time as there always exists the potential of its price skyrocketing without any given notice. If your investments are made for long-term, then you may continue on doing this method but if its for short-term then I highly suggest to check on it consistently.


What is the point of checking the price if you do not have any bitcoins? I highly suggest that today is the perfect opportunity for someone to acquire coins due to its price falling from the $8,000 range. Soon, its price may recover and you may have the opportunity to earn short-term profit.

Is it really that difficult considering the anonymity factor provided by bitcoin when transacting due to its decentralized nature? Well if you really want to be safe, I prefer conspiring with someone who has also the same problem as yours and talk your way through it. You may also ask people around the forum regarding trading bitcoin via paypal in order to at least mitigate the risk of the government finding it out. Like you mentioned, you may also transact or convert your bitcoins slowly, but this may also leave a negative implication when the government investigates the transaction.


The truth will set you free! Like what you mentioned, just pay the necessary tax related to cryptocurrencies to avoid any future conflicts with the law or the government since once they investigate and find that you have been illegally transacting without paying the legal fees, you may be reprimanded for it.

Just like any investment mechanisms when investors pull out their investments from a certain company, it slowly becomes obsolete thus terminating its existence in a short matter of time. Unfortunately, the recent news circulating about bitcoin are mainly prejudicial conspiracies that primarily affects its price on the market supply which makes investors skeptical.


Well indeed, media has the capacity and power to influence new/existing investors regarding the circulation of news about bitcoin. Remember, everything that involves money also implies that there may be an underlying reason behind such news, backed out by the government or large trading companies who wants to oust bitcoin out of the picture.

Are there any reasons prior to why he wants to gamble? I mean, from the information you provided it proved that he still owns tons of assets despite his grandfather losing some cash. Is it a form of entertainment for him? Does it provide refuge or does gambling cushion him from feeling depress? I am also confused to this ambiguity and quite perplexed.
In adherence to those things that I mentioned, gambling can never be profitable in the long-run. It would only aggravate his situation since he might let his frustrations take over his decision making skills. Tell your friend to NOT gamble and to focus on the things that are paramount to their family's success rather than resorting to a method that may lead to his downfall.