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Well my take on this is, its value, its price is something that is increasing through time. People will be crazy on something that can make them earn, be rich or whatever. Especially that a lot of people already proved that it is true and being rich is possible through it so a lot of people would want to be part of it immediately.
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It's a good idea, TV ads are really good marketing medium to reach more people and let them know about Bitcoin but I have one concern and it is a crucial one, who is going to pay for it? remember Bitcoin is decentralized, no one is controlling or managing it, then who will pay for it, especially that it will cost a lot. So though it sounds like a good idea, it don't think it's feasible doing it.
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I don't think it that Bitcoin's volatility can be controlled, controlling is a strong word, I may say that we can at least manage it by not being affected by FUD and do panic selling whenever we see dips. that way we can somehow help manage the dip, I think.
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Earning and saving for the future is one good strategy to gain profit, take it like a long term investment. Remember those people who actually kept and saved their Bitcoins years ago, they are the Millionaires or even Billionaires now. So take that as an inspiration so that you will be motivated to save more Bitcoins for a long term investment, surely it will pay off one day.
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Well my aim here in Bitcoin is to provide a better life for my family. I would start with our dream house, with all the things each of our family members needs and wants. I want to travel with the entire family, we want to see places and create memories as a family. And of course, save for the future, have small business and invest in Bitcoin for the future.
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I think the same can be said for real-world money now, wouldn't it? I mean sure, these criminals may have found a new way to peddle their wares (like drugs, weapons, etc) but these illegal activities have been a problem for as long as I can remember. Placing sole responsibility on Crypto Currencies for the proliferation of these bad elements wouldn't really entirely right in my opinion. Technology is advancing at relatively blinding speeds and if these criminals use it for their profiteering acts, I trust that our sworn protectors would also find a way to up their game and catch these bad guys.
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I take it that by educated you meant you did some research and studies prior to trading. If so, then relatively, the answer's yes. However, adding the word "guessing" into the mix would give it a different context. Seasoned traders would know when't the best time to dive into trading or to hold out and by "best time" I mean time with the highest probability of maximizing gains. That would require a lot of experience, self-study and interpreting trends.
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In my opinion, this is simply because, Bitcoin is the first cryptocurrency there is and it has already a proven and tested track record that it has been a great source of profit. It is growing fast, price still keeps on increasing, and it stood the test of time since 2009. That is why we can't deny the fact that people trust it.
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The biggest regret that I have about Bitcoin was I didn't believe in it back then, a friend introduced it to be back in 2011 but I was skeptical about it. Until last year when my friend updated me with her recent fortune from her Bitcoin. But I am here now, I may have missed to believed in it back then but good thing that i still got a chance on it and I promised that I will not let it go to waste.  |
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Well personally I consider Bitcoin as both investment or asset and a currency depends on how I am going to use it. I use Bitcoin as a currency when I shop online, which i rarely do recently since I am more into investing it now. So now, I do some short and long term investments which I find very awesome since I have gained more than what I am expecting that I can get out of Bitcoin. It has exceeded my expectations when it comes to being a great source of profit or income.
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I know Ethereum has a big potential as an alt coin, some says it's more adaptable and dynamic than Bitcoin, its price is also on a good trend. But with all that being said, I still don't think it will replace Bitcoin as the number one crypto any time soon. It is very possible I am not saying that it is not, but not anytime soon. It needs to prove itself over time first.
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I think what the governments need to do is to have a clear, black and white set of rules and regulations as the law or guide of their people in using Bitcoin and all the transactions and processes that comes with it. One of the benefit that I am seeing that the government can get out of legalizing it is taxation, while a huge amount of number of transactions every single day through Bitcoin, we are looking into a lot of taxes that the government can get out of it.
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Indeed it is helping reduce unemployment since it is providing freelance online job opportunities to a lot of people all over the world. Plus it could also be an additional source of income to some people who are still employed but needed some sideline for extra money.
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For me, holding bitcoin is never greedy because you are just doing it as a strategy to gain profit, it is an investment to begin with. It is the smart or wise thing to do in order to ensure that you will gain profit for the time, effort and bitcoin you invested in.
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Currently, I still have a job so what I do is set a fixed amount that I will immediately put into my savings account. The rest will be smartly budgeted to pay utility bills and everyday expenses. Some do it the other way around, but for me I find my method more efficient as it removes the possibility that I may overspend and thus lessen the fixed amount that I set for my savings. Also, I manage two bank accounts so that if one network goes down and I can't get cash from their ATM, there's another one as back up. Also, if you do set your budget for daily expenses and bills, do whatever you can to stick to it.
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I really don't know where did he based his preditions, for me it's a bit exxagerated but being optimistics would hurt anyways. I still believe that Bitcoin's value will soar high and reach milestones every year. |
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