Well, it is inevitable in the future that every country will adapt to the changes on the technology. Soon, our world will incline towards the digital aspect of currency, which gives an edge to bitcoin in terms of payment. But be reminded that in order to achieve this ideal future, each country must develop and adapt to the current system which I think that poses a problem.

Each country have their own social standing, whether they are developed or still at the developing stage. If we suddenly implement digital currency and remove fiat, this would create chaos regarding the economy. Bitcoin can never make banks disappear at its current stage as their are still countries that prioritize fixing their corruption rather than having internet access across.

Technological advancement is inevitable in the future in considering the phase of changing everything to digital ideally. Slowly, the developed countries are inclined to that change and are already developing mechanisms to be ready for that change. But the problem lies on countries that are still developing and are on the weaker side of the edge. Their priorities as of now are focused on how to fix their country, rather than providing internet access across their country. This would lead to chaos in the economics if we suddenly change our fiats to digital money.

Well in my country's case, my friend interviewed the lawyer at our Central Bank and they said that bitcoin is treated as property, therefore not subject to legal tender. Applying your situation, it is indeed impossible to track down bitcoin transactions by applying its decentralized nature. The government also does not want to interfere yet involving some transactions because their are only a few number of people who know bitcoin. Currently, it helps the economy by making it liquid and by increasing the money supply on the market.

You don't teach kids directly about bitcoin and the blockchain technology as it is very complex and difficult to understand. Instead, you teach them the value of money and saving to prepare them while they grow-up. You can explain them the basic principle behind saving money and the advantages of it. In that way, they would adapt to the system and probably try to save money for their own expense. That's what my parents did when I was a child and not to boast anything, currently I have saved up enough money in the bank for my law studies.

The term "bitcoin expert" is very relative. Does it involve earning bitcoins through various methods, the tricks on investments, or about mining? The question is vague but to shed you some light, you do need need to be an expert in order to invest into bitcoins. Knowing the law of supply and demand, observing the price history charts, and being updated on the current news about bitcoins are paramount in order to understand it. You might also want to read and check articles regarding blockchain technology if you aim on developing similar cryptocurrencies as well.

Gambling online provides convenience on the part of the gambler due to eliminating the need for going-out. I also believe that if you gamble online, you are less susceptible of exhausting your resources and you are mort controlled and disciplined. Land based casinos give you the feeling of gambling more due to the ambiance and environment. There is this feeling you get that you might want to gamble more despite losing compared when you are at your respective home. Lastly, gambling at home and gambling on land based casinos are by no means different and are prone to addiction.

Buying bitcoins while its price are continuous rising may not sound a good idea, but it is definitely an option since the initial price on the bitcoins you bought might be the lowest if its price constantly rises. Another thing, based from what I gathered, there will be an another hard fork this coming November and that will be the perfect opportunity to buy bitcoins. It also depends on the individual whether he/she wants to buy bitcoin even if the prices are high. Like you said, it might not be a smart choice but it is definitely a high-risk, high-reward payment.

The advice given by the OP is excellent and well-pointed out but when it comes to actual scenarios, it is easier said than done. It is inevitable for an individual to panic especially when his/her initial investments are on the low-ends of the straw, they might think that withdrawing their coins to prevent further damage might be the suitable choice. It also depends on the investor's goal whether his/her investments are for short-term and long-term only. If the investment is designed to be for long-term, then that wouldn't be a problem to him compared to short-term investments.

In the event that no one will ever spend their bitcoins (which is deemed impossible), then slowly it will become obsolete and its value will plummet in the market. Like most of the people said, it is impossible for users to not spend their bitcoins due to its significant value if converted to fiat and investments that are high risks. The reason on why bitcoin's prices are continuously rising everyday is due to people spending it on the market, thus making it very liquid. Its volatile and decentralized nature makes it as a perfect vessel for investors to take the risk and hope to yield income in the future.

You are right. Collecting and saving your bitcoins are in the same vein as collecting your money. Both may be used for emergency purposes or for paying your daily/monthly obligations but the difference lies on its nature. Since money has been around ever since, it has been accepted as the main medium of exchange around the world. Most of the people in the world know that their properties or services are always convertible to cash through payment. On the other hand, bitcoin being digital, hinders its growth especially to the developing countries that has limited access to the internet.

It is inevitable for the world to experience technological advancement and soon, most countries will adapt to the changes with regards to payment. Should bitcoin still exist in the far future, then it definitely has the potential in becoming an alternative to fiat soon.

It is totally dependen on the individual's preference but most of the time, gamblers tend to deviate from their priorities and statt exhausting all of their resources unconsciously. Perosnally, I would not mind if the price of my bitcoins are low, as long as I gamble then it's alright. This question is purely subjective and is a case to case basis.

Should there be a word-wide ban on bitcoin utilization, then I would cash out immediately my remaining coins to fiat. But banning bitcoin in most countries is deemed impossible since the benefits and opportunities it provide supersede the negative implications and disadvantages of it. Each country recognize its potential to the general public and the economy since it increases the money supply on the market, and provide an alternative way of earning money to the underemployed and unemployed sectors.

You are definitely right. One cannot simply compare apples to oranges since they have a different nature and history of its own. Bitcoin may be similar in terms of investment due to its volatile price but gold is being controlled and monitored by each country's government. Thus, its price is more controlled in a way compared to bitcoin. Lastly, gokd has been around since time immemorial. The primary factor that separates the two is the convenience of acquiring such, which bitcoin may be preferred.

Though bitcoin may be successful currently with its price increasing since 2012, what hinders its maximum potential is its reputation among the general public. If less retailers and individual know the existence of bitcoin, then we are hindering its success and potential regarding the opportunities it may provide. Many people are speculating that by the end of the year, prices would reach up to $5000-$6000. Personally, the chances are slim because the real measure of success cannot be seen on the profits that we yielded, but rather its widespread about the knowledge of bitcoin to the general public.

I only buy bitcoins whenever there's an opportunity for its price to decrease (i.e. hard forks, unexpected events) because it is inevitable for it to regain again its price in the future. By just looking at the price history, last August 2017, a hard fork happened splitting bitcoin into bitcoin cash. This resulted to a massive decrease on its price, which was the perfect opportunity for me to buy bitcoins and invest. Personally, I earn most of my bitcoins through signature campaigns and I just let time increase its value on the wallet.

You may be gambling in terms of risking your money but the big factor that separates gambling from investing is the "addiction" that you can get. It may be the same in terms of the nature of risk involving risking your money on a certain uncertain result, but the fact remains that you are not participating the standard of going to casinos, and being indebted to individuals due to addiction. In fact, every decision that we make in life is a big gamble regarding the choices that we make since it involves risk, but it is still different from the actual GAMBLING.

It depends on the country that you are living and the coin-based wallet that you are using. If your wallet contains several options to convert your coins to cash, or online bank transfer, then it is a sign that converting your coins to fiat is legal. I have never heard of a country who prohibits selling of bitcoins to cash while allowing bitcoin transactions since it totally defeats its purpose. Fortunately, my bitcoin wallet provides various options and choices on how do I want to convert my coins into. I can even buy online gaming credits or transfer my funds online without the hassle of going to the banks.

Since you stated that the supply of bitcoin is only limited to 21 million, it may be possible in the near future by following the law of demand and supply. Bitcoin is also continuously rising through time and the number of investors are increasing per day. Not to mention, after China's banning of ICOs, its price is steadily regaining which is a good sign in the near future.

Be reminded that in order for its price to skyrocket like what happened 2-3 years ago, we must consider the external factors that affect the price increase of bitcoins. One primary factor is the prioritization of each country with regards to the maximization of bitcoin. The more countries that accept it as a medium of payment, more investors and individuals would be inclined to pay with it, thus increasing its price.

No one actually knows. The prohibition of the ICO in China was very unexpected and came out of the blue, thus questions like these pose a threat to bitcoin's price. When China banned their ICOs in their country, it dramatically decreased the price of bitcoins from $4200 to $3250 in a matter of weeks. Fortunately, bitcoin regained its price after a month, but there is always the possibility of a country, doing the same move as China or even worse. But be reminded that whenever a country prohibits or bans bitcoin usage, there will always be an announcement from a country that will supersede the negative effects of bitcoin banning (i.e. Japan announced that they welcome bitcoin utilization in their country).

They aren't exactly "clones" of bitcoin but they have the same nature of existence, which is being a cryptocurrency and exist within the internet. Like bank investments, every bank have their own rates but there is always this bank that will have the highest rate among the others. Some cryptocurrencies like ethereum and e-toro are showing potential in terms of price growth, but a lot of them are falling short in the long-run. Bitcoin will always remain the number one cryptocurrency in the market due to its reputation and volatility compared to others.