Bitcoin can certainly be used as a payment processor for any online website. But it has its pros and cons. The dynamic price of bitcoin is the main constraint to add bitcoin as a payment processor.

If the price goes up then the store owner will be making huge profit. But if the price goes down drastically, then the store owner needs to have a contingency plan to make up the losses incurred.

Also you need to have a benchmarking policy to decide the price of a product if bitcoin is offered as a payment option. Which is almost impossible for a small store owner. So I think we all should consider bitcoin as an alternate investment option instead of using it as a regular currency.

I won't live till 2100 so I really am least bothered. But if people use bitcoin even in 2100, then it is very very sad. In 2100 I expect technology to reach a new height which today's people can't even think of.

Probably we will see a lot of innovations that will change the course of economy and we will see a new set of digital currencies. Bitcoin will be counted as antique I guess.

I guess I am not that lucky to receive free bitcoins out of the blue. No such things never happened to me.

I had to always earn my bitcoins. Be it from trading, mining and signature campaigns. Nothing came free to me. I had to spent a lot of time to earn my bitcoin. Instead I received less bitcoins few time than expected.

Topmine is dead a month back. I requested a dogecoin payment from them and they straight away deleted my account. Since the amount was very small, It did not affect me in any way.

I tried contacting their support twice, but they did not respond. Now it seems like every single loud mining program are just another form of HYIP and ponzi. No reliability at all. First cldmine and then topmine. Just heard that hashocean has also collapsed. the owners are now millionaires.

That is a very very normal thing for a currency like bitcoin and I am not worried at all.

The recent price increase happened due to the chinese intervention. They wanted to send money outside country due to the falling price of yuan and instead of using regulated way of sending money, they chose bitcoin. Due to high buying orders, the price went up.

Now they are selling their bitcoins and the price has gone down. These are quite natural for any exchange traded currency. You should hold your bitcoin for price increase but you should think about long term. Shorter terms will not give you any good profit.

I see no threat to the future of paper money. Not at least now!

The paper money will be used forever and ever for your daily transactions. If you are not buying everything from a supermarket and using small shops to buy your daily supplies, then paper money is the only thing that is accepted.

Remember, most of the world population is unaware about bitcoin and all they know is paper money. So I see no threat to paper money for the next 30 years at least.

Multi million!!! Whoooa!!

Well, it depends. If I see that my assets are depleting fast, I will turn in to bitcoin for sure to safeguard it.

But if I can see that I can make my dreams come true with the USD I have and also growing it, then I will concentrate more on growing USD which I already have. However, as of now I am only accumulating more and more bitcoin to make my dreams come true.

Trade trade and trade. This is the best way to grow your bitcoin to an uncharted territory. Though it is not risk free but if your learn well, then you can certainly make out a very good profit with your 200 USD investment.

ANother way you can use is p2p loans. Use websites like btcjam and btcpop and give out loans to the person in need. You will earn interest on your investment. However, a high amount of risk is involved in it. So choose wisely.

It is indeed a very very bad idea to buy things using bitcoin instead of other currency.

It is never a good idea to spend bitcoin to buy your daily groceries or mobile recharge. Bitcoin should be considered as an alternate investment option.

If you are using bitcoin to buy daily groceries, then you are loosing a big opportunity to become rich.

Even tough the matter is not anywhere related to bitcoin, Let me answer this.

I support UK decision of coming out of EU. It will strengthen their economy and they will not have to bear the burden of others loan. They can deny the muslim immigrants from entering their country and it will be good for their internal security.

Countries that have good business relation with UK, will be benefited. My suggestion is, that buy more UK pounds this time. The price will increase in near future.

That's indeed a good news...Normal bitcoin earners like us will now be able to save exchanger fees at least one time.

However, it is sad that my country has not yet been listed in coinbase exchanging service. I still have to use exchanger service from third party. But if it happens, it will be a very good news for small bitcoin earners.

I m first kind of bitcoiner..I want the price to go up to an uncharted territory where no other crypto currency can touch it.

Buying LAMBO is a good idea without having to exchange your bitcoin to a fiat currency. But I really don't want to use bitcoin to buy my daily groceries or mobile recharge. It will definitely increase the acceptability of bitcoin but on the other hand it will loose its value of being an elite currency.

I want bitcoin to remain as an alternative investment route. 

Bitcoin is at $580 level and the campaign rate must be increased now. Op was quick to decrease rate when bitcoin price was increasing and now he should be quick enough to make up that loss.

I would prefer Satoshi to be anonymous....Neither male nor female and not even a shemale

Let Satoshi live his life peacefully and stop speculating about his identity. Because once his actual identity is reveled, all the regulating authority will be after him for imprisonment. He/she don't deserve this for sure.

First of all, bitcoin is a decentralized currency. No one actually controls it. Whereas the traditional currencies are controlled by the respective government and they can do number of things to prevent the fall of their currency value.

Here, no one is doing it to safeguard the falling price of bitcoin. Since there is no one to safeguard, bitcoin prices are free to move anywhere.

You will have only two major disadvantages if you add bitcoin as a payment option in your website for providing service.

1. Payment confirmation time
2. Dynamic nature of bitcoin price.


Unlike a bank account transfer, bitcoin transaction need some time before actually showing up in your account. Usually up to 2 hours. So your buyer will have to send the payment first and then have to wait to receive confirmation. Once the transaction is confirmed, then you can send your buyer an order confirmation.

The most important factor is the dynamic pricing. Bitcoin price moves like anything. It can go up to any extent within few hours as well as it can go down to any extent. If price goes up, you will be in profit. But if price goes down, then you need to have contingency plan. Work on it.

I am not a technical person so I will not go in to the technical threats. But what I feel is that the increasing number of altcoins are the major threat to bitcoin nowadays.

We have around 670 odd altcoins in the market right now and only a few have got popularity like DASH, MONERO, LITECOIN, ETH, DOGE and few others.

These altcoins are taking away investments from bitcoin which is slowing down the growth of bitcoin. If there were only a few altcoins present in the market , the investment in bitcoin would have been higher.

If you are holding a good amount of ETH and also want good security, then download the hardware wallet from ETH website.. Visit https://www.ethereum.org/ and download depending on your operating system.

But if you just want to start with ETH...then you can use BIT.AC service. I am using it form the beginning and did not face any problem till date.

All follow back done! Thanks!

Actually it is not possible. Even though paypal is regulated by a central authority, but it also follows the rules of various countries. So it will be impossible for them to incorporate bitcoin.

However, there are lots of exchangers available in the market who will help you to exchange your bitcoin fund to your paypal account and then you can withdraw it to your bank account. I think this is a better option because if you use paypal directly, then you will have to declare your identity to them.