I agree with avikz.
I use both Coinbase and Electrum and both have served me well.
However, if there is an upcoming fork, it's better to move the money off an exchange to your own wallet such as Electrum.
It depends on which exchange you have your money. Because during last hardfork (Bitcoin Cash) exchanges weren't accepting deposits for a very long time. I would advise you to look which exchange is going to support Bitcoin Gold/Segwit2X hardfork and move your bitcoins there. As far as I remember BCH was worth about 50% of BTC price at the beginning. I sold it for about 20% of BTC price.
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I would give some bitcoin as a wedding gift only if the groom knows about it and is familiar with its usage. I would create a new paper wallets, print it out and then send some BTC there. I'm still not sure how much of it should I give. Bitcoin will be better than cutlery or some useless things to a new house. I would like to get bitcoin as a wedding gift.
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Bitcoin can't be stopped. Even if few countries decide to ban it, there will be always some countries that will keep Bitcoin legal because it's money for them. There is a low possibility of 51% attack but someone would have to spend a lot of money to do it. it wouldn't be as profitable as investing directly in Bitcoin or GPU/ASIC mining farm.
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Why we are holding our Bitcoin? The reason is simple. We believe that Bitcoin is going to be worth much more money than it is today. We are a bit too late but we can still make a decent amount of money out of it. Studying and working at the same time is too difficult for me, I want to focus completely on studying, that's why I chose Bitcoin as a form of long term investment.
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I would say both. It's really entertaining for me to see how small amount of money I have invested turns into something big which will help me in my future life. I hope that I will be able to buy a car or even a house in another country. I don't want to stay in my small country because I'm afraid it may ban Bitcoin someday.
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Transactions are definitely taking too long to confirm, if we don't make them faster then Bitcoin won't be able to replace any country currency. Fees have lowered since the attack on Bitcoin network has stopped and Segwit was implemented successfuly. Now hardforks are a little bit problematic because some of the hashpower is switching to a new altcoins which are forks of Bitcoin.
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We have to teach people basic stuff such as how to create wallet, how to send transactions and how to protect yourself from various attacks. It will take some time so we will have to do it step by step. I think not everyone will study how does mining work, how transactions are being confirmed etc. Some people just want something that works, without studying the technical aspects.
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I don't agree with this idea at all. Cryptocurrencies are supposed to give us freedom. I want to be my own bank. There is no point in storing your bitcoins in a so called Bitcoin bank. The only things they could offer are loans and interest. Still, I wouldn't keep my BTC there. I would rather use Electrum and encrypt my private keys.
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It will be hard to explain Bitcoin to young people. Not many of them are interested what's inside today's technology. They just want a simple tool that has a lot of useless features. Trying to explain Bitcoin to people who don't want to hear it, is a waste of time. I would teach about Bitcoin in schools with high level.
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I would say that Bitcoin is going to survive for the next 10 years. Our community is still working hard on it. There are many Bitcoin Improvement Proposals (BIPs) that may not be accepted by everyone but at least many different people are trying to contribute to this superb project. Hardforks won't damage Bitcoin's reputation. They will make it stronger.
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There are going to be many forks in the future. Our community is growing all the time. Not everyone is on the same page so hardforks are something that we should consider as a natural thing. We can't blame someone for doing something other than us. Maybe we would be wrong? That's why I like discussing ideas with other people. I can learn a lot from them.
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Bitcoin is still cheap and by looking at its history it's going to gain in value a lot. I believe that our community is going to develop Bitcoin in something big. Maybe it will be able to replace the world's currency in the future? In the current state, it's not possible because transactions are too slow. Bitcoin needs a lot of improvements but we don't how to rush. We still got plenty of time to make it better.
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If you had only invested 6 years ago in Bitcoin, you would have been a millionare today. Everyone here blames themselves for not investing in Bitcoin when it was pretty cheap. I'm one of such people. I can't deal with it at all. I wouldn't have any problem with money like I do have right now. I'm trying to fix my mistake, by investing in BTC right now. I hope it will pay off in the future.
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I use Blockchain.info, i think this wallet is very safe, you can try this wallet, or you can try coinbase too, but the fee is too high Blockchain.info wallet isn't safe, unfortunately. You don't control your private keys so they can be stolen even if you enable 2FA. Web based wallets aren't safe. There's a plenty of software which allows you to control your own private keys such as Bitcoin Core, Electrum, paper wallets or even hardware wallets which are pretty expensive but I would recommend them to anyone.
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Not many people are asking me about Bitcoin because they don't know that I'm interested in it! Sometimes when I talk with someone, it turns out that the other person heard about Bitcoin and he's thinking about investing in it. I try to persuade such person to do it and I talk about many various benefits of Bitcoin. It's a great technology which should become wide-known pretty fast in the next few years.
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Employing Blockchain wallet to store my Bitcoin. This wallet much more safe and easy to use in contrast to other folks.
Which wallets do you think are less secure than the Blockchain wallet? If you are going to store it for a long term, then why won't you use wallet that has support for private keys? It's very important to have control of your private keys, because you will be able to claim hardforked Bitcoin for example. Also, you are guaranteed that your keys won't be leaked.
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I heard that goverments already have tools that make tracking Bitcoin transactions easier than ever before. I don't know if it's true. I can understand that Bitcoin transactions aren't safe if you don't take proper steps. Even if they could trace every transaction, what will happen if mixing services become more and more popular? If more people use them, it will be harder to track every single transaction made on Bitcoin network.
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It won't be enough. Ordinary people won't invest in something they barerly know or they don't understand. Not everyone can understand how Bitcoin and Blockchain technology work. You can tell them that they are going to earn a lot of money but they are going to be mad at you and Bitcoin when it's going to decline (for example due to correction or recent events).
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The fees have lowered for a few reasons: 1) The attack on Bitcoin network has stopped so there are fewer transactions pending. 2) Thanks to Segwit softfork, we can now have blocks bigger than 1 MB = more transactions per block Now there's going to be another fork called Segwit2x which will increase the blocksize to 8 MB.
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It's 50/50. Price can increase and decrease. It mostly depends on us, the community. We decide how what's the future of Bitcoin and how it is going to develop. I don't consider Bitcoin as gambling like the other people. If Bitcoin was a gambling then everything that includes a risk factor should be also considered as gambling. Even stock exchanges.
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