Better to invest your 1 bitcoin to 2-3 altcoins ICO which you think have potential and you are interested in. Don't put all your eggs in one backet as well as try to be fast and invest in ICO when there is bonus active which can give you some guaranteed profit (atleast bonus amount). However this days many ICOs are opening everyday and hard to find potential alts to invest into.
ICOs are actually profitable but not everytime, and sometimes they rather drop their price when the period of the ICO ends and in that case the investors lose some of their capital they invested in it, so maybe it would be quite safer to invest on a coin that already has the potential to grow in the markets. |
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If the bitcoin bank is another user like a pool or exchange with multiple sub-users and many addresses etc. no problem. if they say they have control of blockchain with their own miners then it's not bitcoin but bankcoin. like e-coin on Mr Robot TV show. (E-Corp controls it)
They would probably have control on the coins we put their if they really starts a service like this because without that they wont get anything for doing this, governments or authorities mostly do the things that can be of their profit but not for the sake of people. |
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Though gold is something that cannot be produced like money or fiat but it is not really limited like bitcoin, because there is still a lot of gold inside the land that has to be taken out later on, so the amount of gold can grow with the time but bitcoins would remain the same as it has a limited amount.
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I wonder how all countries would be able to use just one currency if it is about fiat, because the government of every country has control on the money or on the economic system of that country so if the currency is the same for all the countries, who will be controlling it? Wont that become a reason for fights or wars between states?
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I am using both so I guess I don't have to choose lol. Bitcoin is good for making some investments online and I am using it for some programs to make some money or to increase my Bitcoin hoard. In my country, it is not yet that popular so i guess I have no choice but to use fiat money here.
Same here, though i like my money to be more in bitcoins because they can grow gradually with it like how they are growing right now with the movement of price, but as we cannot spend bitcoins so i have to cash out some of it everytime for spending on real life and i keep all other in bitcoin. |
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Don't confuse them by introducing bitcoin to them in such a small age where they might don't know much about these things, let them come to know about it when they grow higher, it would be easier for them to understand the technology when they grow higher, don't put them into it right now.
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If you are running a business ,dont engage into gambling and in investment program. Just focus on business ,and if you have save some profit,then make another business..and never forget to spend a little time on bitcoin to get an extra income.
If someone already has business running in a good way he does not need to start another business, a successful business is enough for earning you an steady income, if you become greedy and start more business to increase your earnings your business would get disturbed. |
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Technically, I don't think the negative effect OP got is because of bitcoin. It because you are too focus on your programming job, and it means you are enjoying it. So no need to blame yourself just because you don't have much time for your relatives. You will have it if you want.
Exactly, it all depends on you if how you manage your time, if you maintain your time in a good way using bitcoin it will bring a positive change in your life but if you can't manage your time with bitcoin then it would probably affect your life in a negative way. |
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Money in the sense Bitcoin if you are asking then, my rules are very simple, what ever i am earning i keep 20% in wallet invested for long term, balance 80% i divide in sports betting, poker gambling, and some balance 30% i convert it to fiat currency as i cannot use bitcoin in our country.
What i do is i keep around 70% of my bitcoin earnings in my wallet and cash out the 30% to spend them on myself as you said it is not yet accepted anywhere in my country, i do alt coin trading sometimes but not much, and i don't like gambling at all. |
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Keeping your money in an exchange is like doing the same thing in real life or leaving your wallet in a supermarket for some time. It's risky and even though there are lots of cameras and security stuff, it can happen anytime.
Exactly, though there are people around or security is tight but still your wallet will get stolen if its kept somewhere like that, and keeping your bitcoins in a exchange is like that, when you are away from the exchange, you have no access to them at all and during that time anything can happen, so it is better to keep them in a secure wallet. |
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Fiat is always important and people continue to believe fiat much than any other currency. This is because of the way fiat got developed, its backing and ease of usage directly and indirectly. In my view whatever form currency gets evolved fiat continues to move as a competitor.
Well it is surely believed all over the world still as there is no other system announced to the complete world yet which could replace it or make them not believe in it, bitcoin can be that thing but it is still too new, maybe in future it will take over the monitory system and make it digital, who knows. |
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This is philosophical question, probably every creator or designer have a wish on beginning to his work live as longer as possible. But can something last forever? Nature around us says that everything has an end, bitcoin as technology will have and can have much longer life then things from nature.
As a man who have faith in bitcoin, I think bitcoin will last very long time. For now bitcoin have 7 years behind, and when we look period of 100 years bitcoin is still very young currency. We will see how old bitcoin can be, and will something younger and better will replace it one day.
I wonder if something better than bitcoin would be made in near future, maybe someone will do it later on but still i feel bitcoin would be used as an alternative if its price still stays high. And as you said, everyone after making something wishes that his thing should be too successful and to be used forever, but that may don't happen or it may, because technology is something that can stay forever until the world exists and bitcoins is a technology. |
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Yes in my country, you should report but only for big earning like local exchanger service. For other business in Bitcoin not yet for now. But if offer service had big earning too i think it must be reported. It also can make Bitcoin legalized in the country because govt see big income in Bitcoin and they would not miss it.
Is bitcoin legalized or used by authorities in your country? If no then i'm surprised why you will need to report them for doing anything or earning anything from bitcoins, that would only apply in a country where bitcoin is used as a legal currency in physical world as well, otherwise there should be nothing like that. |
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But how will these "bans" really be effective? I could always use a VPN and Tails Linux to hide my transactions and dealings from the authorities. The only difficulty I could go thru is how to convert to fiat if I only decide to convert but it is not impossible. An underground market for Bitcoin to fiat conversion could take place in a big way.
It will be like dowloading movies and music thru torrents. It is "banned" but they have difficulty enforcing it.
No doubt it will remain in use but there is tremendous growth potential for businesses and if it is pushed off into the black market then most of that mainstream adoption won't happen at least for a while. Mainstream adoption would surely not happen if the coin gets banned in most of the countries, and what i think is there is no reason for those big countries like Russia, China or America to ban bitcoin, sure it is banned in some countries but those countries are not really big nor this is effecting bitcoin to any extent. |
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i buy something with local website on my country and its not use bitcoin as payment but using real money and i need to convert it into fiat to buy that product. its been difficult to find online store which want to accept bitcoin as payment.
There are actually no online websites or marketplaces accepting bitcoins directly, there are some services like shopawl and purse.io that buys you the things from stores and you pay them with bitcoins but they cannot be as good as a marketplaces accepting bitcoins directly would be. |
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Paying directly with bitcoin is almost impossible but indirectly through third party services it ispossible
It is not impossible but it is just not done by anyone yet, if someone starts a service like an online marketplace accepting bitcoins with support of worldwide shipping like amazon and many other places, then that would be the best gift for bitcoin users i guess, but the thing is no one does it yet or maybe no one can do it. |
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Good idea? No doubt! I personally would love to have a deal with someone like he buys me something with dollars and i pay him with bitcoins the same amount or just a bit extra for his commission because most of the times i don't get to buy things because they are not sold for bitcoins and i don't have any other payment processors.
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bitcoin trading? I am here just want to tell you. if trade Bitcoin should be guided by the experts. if we are still in the budding stage bitcoin, trading risk will be great in the loss. My only advise to be accompanied by an expert in trade bitcoin.  Trading just bitcoins does not need any special knowledge or anything as you don't need to do much in this but you just buy bitcoins when the price is quite low and wait for the price to rise, and sell them when that happens, repeat the process every time and you are trading bitcoins. |
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I would probably open pet sitting business. The demand is rather high and Bitcoin related business doesn't necessary be related to something online. In fact, I think that more physical businesses who accept Bitcoin should be open.
Maybe also some funds raising society for abandoned and animals where donations could be made in Bitcoins.
That can be great for those places where you know is bitcoin is already in use among the people, because if there aren't already any bitcoin users then it would take some time for such a business to build a good reputation. If i had funds then i would probably have created a new and unique gambling website accepting bitcoins like many others, i guess that is really effective business as everyone likes gambling. |
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Is it safe to keep all your Bitcoins in one wallet in blockchain.info? I have 2FA activated but still.
It is not safe at all, people mostly use multiple wallets of different type to keep all their coins to be safe because if you just keep them in one and if it is an online wallet then you are not 100% safe as there is always a chance of a website to get hacked or something, so you should better keep them in a offline or cold wallet in order to be safe. |
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