This doesnt surprise me at all. What a great way as we know to ferret
away some FIAT money into bitcoin and hide it away from the government,
banks and the wife!

Two things which many many newbies suffer from is FUD and FOMO.

FUD - fear, uncertainty and doubt
FOMO - fear of missing out

you need to learn how not to suffer from these two diseases and how
to master the art and dicipline of patience.

FOMO can be applied in a good way and in the opposite way to how
it usually infects people. Now is a good time to act on FOMO because
It is a good time to buy bitcoin.

Contrary to what we might think or believe not everyone is "making money" from trading.
It is not that easy to make gains and not everyone wants or has the confidence to trade
in this volatility.

The vast majority of people are of the thinking "dont want to know" "dont care" "dont know
how" or are quite happy working as it is their life.
It is a bit irrational to think even in the next 50 years that everyone will be sitting at home
day trading crypto and we have to remember there will be less than 20,000 bitcoins
available to share around the world.

After we change FIAT for BITCOIN we need to forget about the FIAT aspect.
If we get 1 bitcoin, it will always be 1 bitcoin until you buy something with
part of it. We need to think of what the future can possibly hold rather than
looking at the FIAT volatility of bitcoin now.

In 10 years there will definitely be more adoption, it might even take a future economic or financial
downturn worldwide like in 2007 to drive more people to realise what bitcoin can offer.

No i cannot see it becoming obsolete. There are plenty of people who would
love to mine Bitcoin and benefit from the rewards but they are too small and
cannot compete with the big farms. If the big farms were to close operations
the small guys would be waiting on the sidelines to start mining.

Nvidia will always be looking to move their technology forward, new cards
will be released which will make mining more effecient.

I think people who are able to buy a full bitcoin are in the minority even now
and yes as the price goes higher it will become out of reach to have 1BTC for
a greater amount of people.

We can always buy satoshis, which is a consolation.

My understanding is that as miners cease mining the difficulty level reduces
enabling new miners to enter the sphere.

And this is why mining will not get a chance to cease there will always be people
ready to start mining and earning rewards.

Yes the OP is possibly looking through rose tinted glasses at what is happening
because i used to click and click with my wallet but the amount got smaller. Not
everyone in this crypto space is being made millionaires.

Anyway, accessing bitcoin will be the same but it will become harder and harder
to aquire bitcoin as the fiat value rises.
so $100 buy in today will start anyone off with approximately 0.0156BTC when
Bitcoin reaches a FIAT value of lets say $30,000 that same buy in of $100 will
only yeild 0.00333BTC

In my country it is already taxable as capital gains tax and at a whopping
33%. Of course thats for the profits when converted into FIAT.
If i leave my crypto as crypto there is no tax due.

So what should we do? Keep crypto as crypto because taxes are inevitable.

Realistically how can anyone predict anything other than a generalisation
about the future of Bitcoin? Everyone knows that bitcoin will grow in
adoption, utilisation and value but putting a number on it is impossible
so I dont pay too much attention to what "experts" say other than maybe
Charlie Lee.

The thing is that because crypto is available to anyone with at least $20
and any exchange is open to anyone with Bitcoin, anyone can start trading
without prior knowledge of what to do.

The availability of bitcoin and accessibility of exchanges combined with
"News" good or bad, true or false is transferred into the market and we get
big price shifts for no apparent reason, like yesterdays slump.

I agree, news articles are in the majority written to earn revenue whether is
true or false news, it doesnt matter as long as there is money to be made.

And yes there are a group in crypto space who are desperate for a quick
profit so any sort of news affects them with either FUD or FOMO and they
are infectious. The rest of the group react also to buy or sell at the wrong times

I think this is more targeted at a crypto currency which will be centralised and
controlled by the indian government which is fine with me. They are looking to
replace FIAT physical money with crypto.

“Globally the rising costs of managing fiat paper/metallic money, have led
central banks around the world to explore the option of introducing fiat digital currencies”.

Yes it is already possible and yes it could get quite tiresome as suggested above.
It is not yet at the stage where it can compete with the ease of use of card or cash.

There are limited places to spend bitcoin so it has to be sold for cash or traded to
FIAT and transferred to bank account, thats not instant.

At this stage and for the near future it would be best to have cards and cash with
you for instant spending.

Well this current situation coincides with my weekely wage so i can do a little
more topping up. I feel sorry for the panic sellers as they are most likely newcomers
and will regret what they have done and may buy back higher than they
sold at.

Yes I work fast, especially with Acrylic paint as it dries quickly. Since I
started the project i added something every day and more frequently
at the weekends.

I am not a professional artist and dont propose to be so this was my
only project i focussed on wheras I guess a professional would possibly
be working on a number of projects at any one time, focusing on
possibly a few themes with different media also.

Thanks for dropping the nane of Miguel Najera Loera, i like his work
now but have not heard of him before.

IMO i cannot see it happening either, not with a currency which has a limited supply
and which at the moment is expanding its supply but when fully mined the availability
will shrink.

I cannot see any government accepting something which is decentralised in place
of an alternative which they can control.

Also I fear bitcoin will become less like a currency and more of a commodity as
its value rises over time.

Its about selling news and it has come to the stage where good journalism
is very much watered down by terrible reporting.

There are far more people who either done know a lot or love to hate bitcoin
so any sort of news real of false will sell.

Its a matter of perspective, and those perspectives will change with time.
"Time" we have to realise is a very key factor in what we are looking at and
interested in.

For me I got into crypto when Bitcoins price was $1000 so from my perspective
todays price is very rewarding. SO this time next year or in 2020 the perspective
will change for those who today are disgruntled about crypto.

I personally believe that the majority of coins/tokens or whatever you want
to call them will not progress as much as people hope they will. Bitcoin and
some established alts will continue to move forward and that is where I
suggest we should focus on not some very minor coin which gets pumped
one by 6000% and then is forgotten after its man purpose has been achieved,
To be Pumped.