If that happens then bitcoin will no longer be a decentralized cryptocurrency and they will be able to control its price and the volume of the bitcoin in the market will also be regulated. But due to bitcoin's volatility it won't happen in the near future unless its price became stable just like fiat money but it won't happen too because its price depends on the volume regulating in the market. Unless all the bitcoin has been mined, its price will remain volatile because the supply keeps on rising as well as the number of holders.

Once you lost your private key you won't have other means to open your wallet again. So you must keep several copies of it and don't trust fully your memory. You should print it, write it, save it in your phone and external memories but you should never ever give it to other people .

At the current state of bitcoin, it's impractical to use it as payment because it's very volatile and the fees for every transactions you make are getting bigger and bigger. So it's better if you just hold your bitcoin or change it to fiat when its price is high and use the fiat as payment for your needs. This way you won't lose much and you'll profit more.

I don't think Bitcoin can destroy the world. There are many ways we humans are destroying the world but Bitcoin is not one of them. If the problem is the energy consumption, sure bitcoin mining consumes large amount of energy. But there are many alternative ways to generate electricity through renewable energy and some mining companies are located in countries where they use renewable energy as their prime source of electricity.

I think gold is very different from bitcoin. Since the start of time, gold has been around and it's price keeps on getting higher as time passes. While bitcoin's price is very volatile and keeps on fluctuating and has no stable value. Also, in terms of usage, gold has many uses compared to bitcoin.

Thanks for the tips. This thread is very helpful especially now that cryptocurrency is soaring and hackers are all over the world targeting everyone they can. Just recently I've read some news that some users of MEW have been hacked and reportedly missing some of their eth because there was a phising site that's very identical to the original site of MEW.

Blockchain technology is the building block of bitcoin. Though bitcoin is just one of the many applications of blockchain and blockchain was made popular by bitcoin but it can surely without bitcoin. There are far too many applications of blockchain and with the projects coming up that use blockchain technology it surely will be the future of businesses.

It's a good time to invest in bitcoin right now specially that there's a dip on going. The price is lower compared to its average price. I also think that bitcoin will hit that denomination by the end of the year. So in my opinion you should start investing as soon as possible because bitcoin is a good long term investment but beware of the risks and just invest what you can afford to lose.

In my opinion, you should teach him first about fiat money and how it works. Then introduce him on the basics of blockchain, you can find several easy tutorials of it in YouTube. Make him watch those tutorials. If he can grasp the basics of that tutorials then he sure can survive in the crypto world on his own. Just let him do his research and facilitate and guide him.

Bitcoin's security is very strong because its database is spread out throughout the world and is not kept in just one computer but many computers. If they're going to hack the database of bitcoin blockchain then they have to go through in many layers of security and hack millions of computer which is impossible. Bitcoin is decentralized meaning there's no one controlling it and just like i said its database is spread out throughout the whole world.

This always happens to bitcoin but it kept on recovering.  You should just stay calm and grab the opportunity to buy more coins in lower price and sell them once they pumped. If you're holding some btc then just keep on holding them because I'm a pretty sure that its price qill rise by the end of the year.

Every investment has its own risks. You just need to expand your knowledge about your investment or where you'll invest. Investing in bitcoin is a good decision but also very risky so you should only invest what you can afford to lose.

I think that's very unlikely to happen. Unless there will be an interruption in the power grid all over the world or the internet will be shut down. As long as we are in the digital age bitcoin will keep on functioning and keep on growing.

Because bitcoin is still considered as an asset that's why it needs to be converted to dollars to have a value. Just like our houses and other properties, it doesn't have its own value and need to have an equivalent value in fiat money.

For me it's not advisable to borrow fiat money just to invest in bitcoin or in any alts and ico. The risk in investing here is very high and you can't know for sure when you are going to profit or if you're going to profit at all. Borrowing fiat means you need to return what you borrowed in a certain time, what your deadline comes and you're not still profiting in your investment? Only invest what you can afford to lose.

It's not yet too late because there's still so much room for improvement of bitcoin and crypto. It will keep on rising and by the end of the year you'll be shocked on how much it improved. But for every seconds you waste not investing in bitcoin, you're losing your chance to profit. So I suggest that you should start as soon as possible.

There are plenty of ways to earn bitcoin. But first you must focus on ranking up your account to be able to join in bounty campaigns. Once you're at least a Jr. Member you can choose on what kind of bounty campaign you want to join like signature, social media, blogs, vlogs, and translation. You can also offer your services in service section.

I personally think Tha ethereum will reach the point where bitcoin is right now but when that happens bitcoin is far more ahead Ethereum and bitcoin don't have the same purpose and platforms that's why they can't replace each other. Ethereum depends on bitcoin so I think it cannot replace bitcoin.

I just share my experiences in crypto with my relatives and friends. Then if they're interested I tell them the basics of crypto and blockchain and let them do their own research about it. It's better for them to explore it on their own and just guide them.

That's very impossible to happen specially if it's unrelated to their course or majors. Seminars would be a good idea to open the eyes of young students in blockchain platforms and help them to be a young business minded people.