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Well personally, I think Bitcoin has very slim chances of making fiat money disappear, the good thing is that is not the purpose of Bitcoin anyways, it is not here to replace anything, it is here to improve and provide a better financial system for the world, it can actually work hand in hand with fiat to ensure the world's economic success in the future.
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I just love the fact that I can earn a lot while learning so much, i know it is too good to be true but Bitcoin made that possible. That is something I always brag about it, it gave me the means of earning, trading, and investing for the future, what else can we ask for, if that is not impressive then I don't know your definition of the word.
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I don't think Bitcoin will just die, so to answer your quwstion I think it depends on the reason how Bitcoin died if ever. First if it did due to just price crash or something, then there is a big possibility that an alt coin can take its place in the crypto currency world. But if this is due to the world wide ban for Bitcoin and all other coins well obviosly, it is the end of cryptos as we know it. But I think this is something that we are not going to face in the near future, don't worry.
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I think this is not a bad idea at all, we should start incorporating it to our new generation's curriculum to act as their guide and foundation for their future. This technology is for the future and my take on this is that we have a responsibility to equip them in the knowledge and skill set that they will need to be able to have a better understanding of it hence, it will be easier for them to use and be successful on it.
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I think it is a great idea that our youngsters should have an experience handling and managing Bitcoins, its will help them big time in not only knowing what it is, how it works but also all the things they will experience through handling it like, patience, desicion making skills, how to deal with its volatility and stuff. It is a bout time that we guide, equip and prepare them for their future.
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Personally I prefer buying Bitcoin, yes the price is a higher that it used to be but for me, mining will require a lot of time, effort and even cost as well. You need to invest on equipment and maintain it that will really take more time and if you add up the overhead cost, it will not be worth it in the long run. So i prefer just to buy Bitcoin and then you're already in, less effort, less hassle, no time wasted.
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In this time when people are really into technology, I know digital currency will grow more in the coming years and no matter how awesome it is, I don't think it can ever replace the paper money or fiat as what we call it. Cashless souciety sounds like a great plan, but I don't think the governments and big financial institutions and corporation will allow it due to its decentralized nature, it cannot replace the paper currency.
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We have to be both smart and strategic in order to be successful in Bitcoin or in life in general. Being smart is being knowledgeable about Bitcoins, how it works, its technology, its features and being strategic is to be strong willed and determined in making things happen through your decision making skills, action planning and execution. It is one thing to know what you are doing but it is best if you are also few steps ahead and you are always ready to act regardless of the result that you are going to get.
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What I do with my investments is to diversify, not just in crypto currency but I also have some market stocks. I am in the planning stages of acquiring land properties and gold as well. In this time and day that every one is having a hard time providing for their needs it is very necessary that we invest for our future, our children's future. With all my investments I can say that Bitcoin is one of the good investment platform there is, it is for the future and I believe in its technology and features that I will give a great returns for my investments in time.
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My best investment ever made so far is my Bitcoins. I started few years back when the price was really low, I didn't expect that the price will be grow exponentially. I was so happy I held on it and didn't sell it back then, from there I knew I made a right decision. Slowly, I was able to pay some debts and slowly build our family's dream house and business.
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Never do panic selling, it is indeed no good to anyone. When you do it, you will lose your coins plus the potential profit you will get, at the end of the day time and efforts wasted. When you panic sell it has a negative effect to the market as well since the demands will decrease tendency is the price will also decrease. Once the price continies to decrease it will create more FUDs among the users and it will affect even the potential new investors. Indeed a domino effect, so we should always, avoid panic selling.
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I understand that we had a rough start this year for the Bitcoin community, a lot of issues and negative news that actually affected the price of Bitcoin. A lot of investors even the potential ones actually lost their trust and pulled out their investments making the situation worst, but we are able to pull that off, slowly BItcoin was able to get back on its momentum and gained its price back. I believe that this technology would really last for a long time, it has survived a lot of things and will continue to do that, this technology is really for the future.
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Well for me, I really didn't know Bitcoin back in 2009 or 2010, it was just last year that I got the chance to know it, I admit at first I was also skeptical about it, for me it was too good to be true but then a close friend proved to me that it is true by showing me how it changed his financial status, he was able to pay his debts through the money he has earned in Bitcoin. I was interested and he helped me, I started late last year and so far so good. No regrets of not knowing it yet, I believe that everything happens for a reason, everything has its own timing and i can say that my time is now.
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Well for me, that is good that these homeless people have Bitcoins and they can still access it through free wifi on public places, at least they have a way of changing their situation in the coming days, I just hope that they are homeless not because they sold their house to be able to invest on Bitcoin, but if yes, oh well that is their decision but for me, I will not ever trade the comfort of my family to a posibility of good profit. But here in my country, smartphones and internet connection will be the least or not at all in the list of their priorities. Most of them don't even know how to write or read, what more to use gadgets.
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Well for me, I do a good mix of all of it. I buy as much as I can whenever the market is red. I also do some buying and selling or what they call trading sometimes and I started earning Bitcoin through joining and participating the signature campaigns and since then I am doing it, I am still enjoying doing it. I love the fact that I can earn while learning and even helping others by giving some advises, tips and sharing my experiences and learning here in Bitcoin. So those are the things I do to ensure that I am increasing my Bitcoins.  |
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For me it is an opportunity, a great opportunity for you to be an investor and be able to gain great profits in return. But you have to understand that all investment businesses are risky, so for me borrowing money for this kind of investment is something that I would not recommend. It is really good that you want to invest in Bitcoin but more than the knowledge from books and internet, read more of the strategies and experiences from this forum, it will help, you have to equipped your self with the skills and be prepared financially, mentally and emotionally because it will be one hell of a ride once you invest in Bitcoin but if you stay strong and keep your faith, the returns will be worth it,
Good luck.
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