I don't see any correlation between the oil price and cryptocurrency price. The cash flow between the two seems very separate. Both are affected only by their own supply and demand. The only relation they have would be how much you're going to pay for gas with equivalent amount of crypto.
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This is why we need the blockchain and cryptocurrency to keep track of all the money being produced. Over-issuing fiat currency will eventually bring the downfall of all countries if not kept in check. The world debt is actually fascinating as to how it will be paid with the amount that doesn't exist.
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I would say it's 80% that we can still deal with bitcoins or any other cryptos here in the south-east Asia. Currently there are no laws in bitcoin in our country. Except when you use it to scam people. Then, you got to jail for that.
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Bad as it is, it is just how it is made. It just gets worse when people manipulate others through fake pumps in altcoins. Just wish sometimes that people won't take the bite but sometimes, it is being perpetrated by pump groups on telegram.
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If you are very positive that bitcoin is going to be growing in the next couple of years then you have the right assumption. And if all others would have the same mindset and buy now then yes bitcoin would definitely increase in price. But convincing others that it is so is not right since it might cause them to loose money then it would be your fault. Instead, we should teach people about the risks and how to mitigate them.
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Technically everything with money involved is a risk. It just depends on the amount of risk you're getting. You invest, you risk losing your money due to failure. You go to work to earn money, you risk your health going out to do so. Risk is everythwhere and it's all about understanding and accepting it.
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It's quite possible and a good promotion run for bitcoin. We need more ideas like this to happen to further our coins and help spread the knowledge of bitcoin! Although it will be a tough road ahead since, in the case of children, they will have to ask their parents and its hit or miss if they will like it or not.
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Safety is actually relative to how much you put in to your due diligence. May it be desktop, laptop, cellphone, online wallets, cold storage wallets, etc. Sure some of them are more secure than most. But it is still possible to steal information physically relatively easy with your smartphone.
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The amount of hashing power required for mining bitcoins is astronomical compared to what a cellphone can do. I'm not saying that it's not possible to do it. You can try and it will work. But with cellphones you'll probably get miniscule amounts of bitcoin in a year. And that's you cellphone running 24/7 and you got to pay the maintenance like electricity and cooling.
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Most probably in gambling and gaming industries since in them, tokens have more possible use rather than others. Most companies right now use their tokens for next to nothing within their respective projects and just leave them in the air moving forward once they're funded.
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It is the same with all other investments. It's not really safe and this is the thing that you need to consider or understand before investing in anything. If it were a sure thing, all of us would have been millionaires by now. This is one of the misconceptions that most people have with bitcoin being a money making machine.
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2018, for me, will be the deciding factor for bitcoin if it will be a part of our future or not. But taking into account the previous history of bitcoin, I think there's a chance that we will see bitcoin repeat the all time high last year or just close to it.
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I think fiat cannot be replaced entirely unless the seamless access to cryptocurrency can be attained. That means access to crypto can be easily attained by ALL citizens may it be rich or poor. The only thing I can think of this happening is if we all have implanted chips in our limbs. And that's a lot of red tape to go through.
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The security of all of those you mentioned are sure and cannot be hacked. But, the one that can be hacked off you are your passwords. Also, take special care of your private keys. The only way that they can take them from you is if you let them.
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I have the same goal for bitcoin. Around $20,000 is enough for me to cash out my bitcoins. Bitcoin can go higher in the future and that's all good but I don't want to be greedy as I would need the money by next year.
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If ever they did ban access to exchangers/wallet sites, there are a couple of ways to access them from spoofing our IP addresses or using third party access (not recommended though). The people will always find ways to do it no matter what. If worse comes to worse, if you don't have the private key to your wallet, it's gone.
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I hope we can maintain an upward trend in bitcoin in the coming months as per previous year. Lots of good news coming in the way of bitcoin and hopefully it can carry our favorite coin to a new all time high.
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The banks are uniting against bitcoin when in fact it's good business for them since most withdrawals go through them. ALso, once converted to fiat, we also store our money in their banks, giving them more funds for their investments and whatnot.
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Bounty programs or campaigns are a marketing strategy. It is full force advertising on the internet. And we all know how strong the internet presence is. Even a single gossip gets around extremely fast. So that's why this is so useful for current and future ICOs.
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Right now, mining bitcoin are only for those who create large mining farms. These mining farms then lease their hashing power for more profits. ASIC machines are very pricey. And locations should be taken into account where electricity is the cheapest.
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