I assume that you don't have many bitcoins so you don't need to buy a hardware wallet. If I were you I wouldn't use web wallets. They are too dangerous because you don't own your private keys. I would consider using Electrum which allows to manage your own private keys. It's way harder to steal and import them if they are encrypted.
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Dear campaign manager, I have just ranked up to Member. Changing my signature in a moment. Post number: 191.
#Edit: It looks like my post count decreased from 191 to 184...
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For now, I treat Bitcoin as a long term investment. I also see it as a currency. It is still not capable of processing a huge amount of transactions but we are on a good track. We have already introduced SegWit which helped to decrease the price of transactions and the time needed for confirmation. We still got plenty of time, people are slowly getting used to the idea of cryptocurrencies.
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I don't have any regrets. The only thing I would change if I could is that I would invest in Bitcoin one year earlier. I have already made a lot of money thanks to Bitcoin but if I had invested more in 2011 then I would have been a millionare right now. Unfortunately, I can't go back in time so I won't be able to fix my mistake. I also missed my chance to talk to with Satoshi Nakamoto here on Bitcointalk.
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It's really hard to tell. Why would Bitcoin die anyway? We are working on solutions that will speed up Bitcoin in the future. Unfortunately, many hard forks occur because of this. That may kill Bitcoin someday. Right now, the price of altcoins mostly depend on Bitcoin. When there is an upcoming hard fork or Bitcoin price decreases then altcoins value is also decreasing.
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And you were right! You are the new elite! Bitcoin value has increased a lot in the past years. I wouldn't be suprised if we hit $10000 before the end of this year. I have invested in Bitcoin a bit later than you so I haven't profited as much as you but I still managed to make enough money to start a mining farm and do trading frequently. I still believe that we will be able to make even more money.
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Yes, I believe that Bitcoin has started a revolution and it is changing our world today. A lot of banks started to research Blockchain technology. They have to understand and adopt it if they want to survive. Bitcoin transaction are way better than traditional banking in my opinion. I would use Bitcoin everyday if everyone was accepting it as a form of payment. Converting to fiat usually takes some time.
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Dear signature manager, Tomorrow there will be another activity update. Will my posts count as for a member if I change my signature immediately after the activity updates tomorrow? Or will I have to wait for the next week?
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Bitcoin is money definitely. It will take some time before we will use it in our daily lifes for daily purchases. For now I use it for trading, investments and sending money to my family members who are living abroad. By doing this I can avoid paying additional fees and save some time. Mining is also a new way to earn some money, it didn't exist before Bitcoin was created.
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The thing is people also said this about the internet before it became mainstream. Back in the 1980's people did not think of the internet like it is today, but rather only big corporations would own websites and people would visit and shop on them, but these days everyone can have their own website, and I think Bitcoin should be the same.
I don't negate that Bitcoin might be used for daily payments in the future but I think that increasing block size isn't the best way to do it. Introducing SegWit already helped us to decrease the transaction fees. Did you mean that Bitcoin will be centralised because the same thing happened to the Internet? Internet purpose wasn't to become mainstream, they planned to used it for education and military purposes.
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Bitcoin will be probably banned in a few countries anyway so we don't have to worry about it. The biggest threat are hard forks. I always say that they are great because they help to break the tension in our community but it's also hazardous. Upcoming SegWit2x hard forks is one of the examples. Introducing this hard fork will lead us to centralisation and the end of Bitcoin in the future.
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Well I store Bitcoins online, My Bitcoins are always in my online wallet blockchain.info but some of the coin are always in Exchange. I keep some bitcoins exchanged so in case of emergency I can have some money as back up. But the safest way is to store Bitcoin offline.
As you said, Bitcoin offline wallets are safer than online ones. What are you going to do with your BTC before upcoming hard forks? I would recommend you to switch to Electrum at least for the hard fork. You will be able to claim your Bitcoin Gold and SegWit2x coins almost instantly after forks. Not every exchange is going to support them, not immediately.
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It's too hard to answer, probably it's too early. Bitcoin transactions were created to be irreversible. PayPal is great thanks to their customer protection. However, it's usually abused and people chargeback their money after their receive what they have paid for. I have never been chargebacked but my friend was and every time he received $20 penalty. Bitcoin doesn't have such problem because it was designed in a different way.
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I simply don't. I believe that Bitcoin value will increase in the next few years to a very high level. I can already pay my bills and order food using bitcoins. However, I can't still buy everything for it. That's why I sell my BTC on localbitcoins or use my local exchange to withdraw money from ATM. It's really convenient and quite fast, it's available 24/7 if there's a working ATM nearby.
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I treat Bitcoin as a long term investment. It's also a good way to store my money. I don't trust bank anymore, everything I put there belongs to them. Bitcoin allows me to become my own bank. I don't have to worry about additional fees and contracts because everything is clear, you have to pay only one transaction fee which you can set at your will.
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There are few disadvantages of Bitcoin. Hard forks are usually good because they help to break tension but unfortunately, people who are new to cryptocurrencies become confused and they don't know which Bitcoin is the real one. Bitcoin wasn't designed to be used for daily transaction (for example in store). It needs some upgrades before we will use it in our every day lifes.
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Well... No. Bitcoin can be used by everyone, it's not that difficult to explain basic things like creating a wallet, sending transactions etc. It might be hard for some people to understand why they shouldn't use a web wallet. For vast majority of people, convenience is more important than security. I gave up convenience and bought hardware wallet to make sure that my money is safe.
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Yes, it definitely can. I believe that Bitcoin won't be harmed by upcoming hard forks. Bitcoin Gold is interesting because it will allow us to mine it with GPUs but people, who are responsible for it, look incompetent. There is also a Bitcoin SegWit2x which is an attack on Bitcoin. It will cause centralisation so that's why I'm against it. I'm going to stay with the original Bitcoin.
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As far as I know, a few celebrities have already invested in Bitcoin. I'm not suprised, Bitcoin is becoming more and more popular. Bill Gates is a good example. He has invested a lot of money in cryptocurrencies and tries to encourage other people to do the same as him. Microsoft is also part of Ethereum Alliance. Things are going to get more and more interesting over time.
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I thought that we will be able to barely hit $6000 by the end of this year. Now I'm really optimistic and I think we can reach $10000 by the end of this year. 2017 is going to be remembered for sure. Cryptocurrencies became so popular this year. It's really interesting to see that people are buying as much BTC as they can despite we are going to have one of the most important hard forks (SegWit2X). Price fell down during Bitcoin Cash hard fork.
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