Just as with fiat money, bitcoin can simply become a medium for corruption. It would all boil down to the morals and values of a person - as to whether how they could use bitcoin. Bitcoin will not LEAD someone towards corruption but rather their selfishness will. They may use bitcoin as a tool to act on their selfishness. Corruption may be found anywhere, it may perpetuate through anything. Hopefully, the proper authorities would prevent these kind of acts through proper regulation.

Interesting. I have been expecting for the price to go down days before the hardfork and for it to go up after but with this bitcoin gold, that may happen. It really is hard to say what the price may be and to speculate - you never know what to expect. I didn't expect the price to be as high as it is today and I believe that it will continue to increase until it breaks to $6000. If that doesn't happen, then there could be some dips during the hard fork. I hope the price won't fall as much during that time.

If that were the case, then I wouldn't choose to spend my bitcoins on daily purchases as well. That wpuld just incur a loss for me. Also, I'd rather hodl and treat my bitcoins as long term investment because I believe that its value will become high in the future. With only selected merchants which accept bitcoin as a payment sustem then I think that it's not ideal to spend bitcoin for daily purchases.

Cut your losses.

Despite having lost a lot of money. Despite not being able to win back the money you lost. Despite the prospect of gaining profit or winning a huge amount of BTC or money - just drop everything and stop. Do it now, and not tomorrow or once you've reached your quota or desired number of winnings. It's going to be hard and you'll experience withdrawals if you're already addicted to gambling but it is possible if you have the discipline. Try to distract yourself by putting all your time and effort on other doing things such as doing recreational activities.

They say that you should teach a man to fish, and not give them the fish or else they won't learn and they'll just keep on asking for more. Of course, not everyone has the capability to work or earn money. It's sad how society works, how it deprives some people of the riches, and how unfair the world is. Even with the pre-historic age gone, it's still survival of the fittest. It's true, instead of just helping each other some would even step on those who are struggling or less fortunate.

People scam because it's the fast and easy way to get money. Out of their desperation, they resort to these kind of decietful and fraudulent schemes. The people who scam should instead put their skills to legitimate work.

That's almost $5,000 and that's a huge amount of money so I'm guessing you were able to profit from that but I also think that you should have left some bitcoin. Just this very day, the price has increased tremendously and I believe that it will continue to increase for the years to come.

Unless of course, you are satisfied with the profit you got.

I shall dissuade you from buying right now because the price is very high and it will continue to get higher. Once the November hard fork gets nearer, the bitcoin price will surely go down. That would be a good time for you to buy since the price will be very low. After the hard fork, the price will shoot up then you can sell it again if you want to. If you're into trading, invest on some altcoins too. There are some coins out there worth buying also it's very good for short term trading.

I sometimes get tempted myself to sell my bitcoin and cash it out so that I may spend it on useless material stuff but then whenever I see how the price increases each day, I'd have the motivation to hold it. Despite experiencing frequent fluctuations, I believe that the price will still continue to increase and upon observation of price charts it may be seen that the trend is upward. I remind myself that if I hold it today, its value will increase in the coming years. The appreciation of bitcoin truly is amazing.

I agree. The investors continue to hold their bitcoins despite during troubled days and despite when the price goes down because they believe in bitcoin and they see potential in it thus it is worthwhile holding. Just by observing the price charts, one could see that the price has been exponentially increasing despite the numerous fluctuations and number of dips it has experienced.

I don't think that most investors have stopped investing in the old ways - such as in stocks and bonds. It's actually quite similar with bitcoin. They may have decided to just diversify their investment and expanded their portfolios. I believe that a lot would still trust the old ways of investing, even in banks and other financial systems.

I don't see the need for an age restriction nor do I think that any jurisdiction would impose one. Bitcoin is dangerous to use for the young ones and so is money but there is no restriction for anyone under the age 18 which prohibits them of the use of money. Some wallets requires the need of identification but besides that, age shouldn't be a problem. Bitcoin is available for anyone to use regardless of their age and no law should discriminate on that.

This is actually surprising because Asia is full of traditional countries and most are not so welcome to new and foreign concepts such as this.

I agree that a factor could be the friendly approach there is for Bitcoin in countries like Japan - I believe that their legal system allows the bitcoin users to maximize its use and potential. Along with this, the popularity and interest for bitcoin has increased. It is also true that some users in Asia has been treating bitcoin as "sideline income" or way for them to earn extra, so I guess this contributes to the growing demand for Bitcoin in that area.

I agree. With the upcoming hard fork this November, the price will go down. After that, it may be possible for the price to hit $6000 once it breaks above the $5000 boundary. I'll be expecting there to be a huge price increase after the fork this November, especially since Christmas season will be fast approaching. It's going to be hard to tell what the price will be by the end of the year but I expect it to be near that number or probably even higher. We are sometimes wrong because we are only speculating and the turn out is even higher than we thought it would be.

That may be so but then I think there will be more developments and adoptions for Bitcoin in the incoming years because of the growing number of bitcoin users in the Philippines. Soon, there could be more merchants that would accept bitcoin as a payment system. I beg to disagree that it is only something for the lower class; although it is true that there are A LOT from that class who utilize bitcoin. I believe there to be number of businessmen and those from the middle class who know of and invest in Bitcoin. It is presently being more attention in the business sector.

I think that those from the lower class has been taking advantage of the opportunity given by bitcoin especially those who don't have regular jobs. It gives them the convenience of earning even when they're just at home. I believe that it's a big help for them and it could alleviate some of the burden that they have in paying their daily expenses.

From what I'm seeing right now, Bitcoin has been gaining more and more popularity all over the internet and social media. I've been seeing more advertisements - particularly ICOs and articles regarding Bitcoin and cryptocurrency. With this, I believe that Bitcoin will slowly become mainstream and recognized by the public. It's possible for more people to use Bitcoin and more technological innovations will be done to cater to the growing number of bitcoin users.

I make it a habit to always keep away at least a dollar or two in my wallet or some safe place just in case of a rainy day or emergencies. I would also be able to get from my bank account because I don't spend my money there unless it's for something urgent. I guess another thing that I could do in case I exhausted all my resources would be to sell my possessions such as my cellphone and laptop - if I were desperate enough to do so.

I've been also saving my bitcoin and it's amusing whenever the price goes up because it has increased a lot as compared to when I first got it.

I do the same. I've been serious with my investment in Bitcoin and prevent myself as much as possible from spending it. I intend my Bitcoin investment to be long term so I've been hodling it for quite some time already. I don't see it as something "for fun" because continuously earning and restraining from spending is quite hard. I've been tempted several times to cash out especially when the price is high but I would always remind myself that this investment would be worth it especially in the long run.

I think that a huge dump would have a drastic effect, and may even possibly cause a domino effect of dumps if the others start to panic sell. A huge dump would make the price lower and others may choose to dump their coins too and sell once this happens, and the cycle would go on and on. This is what happens during a financial crisis, and this happens not only with bitcoins. Banks closes and market crashes all of sudden or overnight when people start to panic sell.

I do so as well. It's become a part of my routine and I do it daily even if I only have a small amount of coins in my wallet. It's convenient that I am able to check the prices with the use of my wallet, and I am also able to compare price charts for a day, month or year-round. I check it so that I may be updated even if I do not intend to sell my bitcoin just yet. It does not affect me when the price goes down because I am firm with my decision not to sell it at the moment.

Yes, it is risky. Even with the trust you have on Bitcoin and cryptocurrency, you'll be in trouble let's say for example if the market crashes. It would still be ideal to have some back up in the form of fiat money even if it's just sitting in the bank and do nothing. Its better to have it there for the purposes of security. You should have a variety of assets so that all your funds and investment is just in one place.

A lot are victims of FOMO, not only in trading. Just because a lot of people have been doing something, others feel pressured to do the same. So when a lot of people collectively sell their coins once the price goes down, others feel pressured to sell theirs as well instead of use this opportunity to buy coins at low price. One shouldn't succumb to such pressures when trading.

You must have the right amount of patience because trading is all about good and careful timing.

Most of those who have heard about my earnings were amazed and got interested. The best way to show them that my earnings from bitcoin are legit is by exchanging it to fiat. The exchange rate for bitcoin to fiat in my country is quite high, so a lot may utilize bitcoin earnings for sideline income or daily expenses. Those who don't have regular jobs especially would resort to earning bitcoins.

Other than the earnings, there are other advantages and benefits to Bitcoin which you can showcase so that they may be enticed to invest.