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The only thing that I needed to to use is my brain LOL. Well kidding aside, it is actually true, that you only needed to use your brain. The only reason why people are getting scammed or something is because they are not using their brain and they do things which a knowledgeable investor will never do unless they are out of their minds. Just be knowledgeable and read many articles and try to hear success bitcoiners thoughts. This will inform you on things you should know.
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The best way for you to invest in bitcoin without being scam is to not negotiate with people. They are the one who do these scams that they actually must not do. Well we cannot control them so you must be really careful when doing so. Invest in exchanger. Just be vigilant and use your brain. Use your common sense. The only way that people can be scammed is because they can be easily fooled. You might also try to consult some of the reliable sources and also people but only those that are really reliable.
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For what I believe, there are many loopholes to what you have mentioned. First of all, United States is a country that do not hate bitcoin, it rather supports it because they know what bitcoin can do to a country's economy. For me, bitcoin is not something a government will be feared. They can actually cooperate with it like what other countries are actually doing. The last part that you have me I there are many ways for someone not for his cryptocurrencies to he started. Banks also should not feared digital coins as like what I have said that they can actually coexist .
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This is what bitcoin is all about and I hope many people that are into and not into bitcoin will see this. It is because many people here that was just became an enthusiast only because of the value last year for the reason that they think that the journey here in bitcoin is very easy that you will invest money and you are sure when to earn. It is not like that. As you can see, the value of bitcoin is very unpredictable, but it doesn't mean that when it goes too low, it is the end of bitcoin. It is what bitcoin is all about. It is on how to maximize the low value by buying on those times and selling it when you think it is reasonable to sell it.
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Knowing chinese, they are so business minded. From the old times they are the one who are very good in knowing the opportunities in their environment that they can earn money. Here in our country, the richest people are the Chinese businessmen, and the nationals are the one who are the workers of these businessmen. I think they see blockchain technology as an opportunity to create money and maybe the reason why they do not adapt bitcoin is that they do not want to compete with it but to create their own so that they will not have competition.
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BEFORE:
Negative impact on the economy as per the past government.
The remittance market is increasingly $26 Billion annually which is rank no. 3 in the world.
Charities has limited reach internationally because of high transfer fees.
Unqualified merchants to accept digital currency.
10% transfer rate from fiat money.
NOW:
You can now purchase goods using a bitcoin in some small online merchants.
Availability of Bitcoin Atm located in Salcedo Street, Makati Philippines.
Bitcoin as donations given to the charities reaches internationally
Pay services using bitcoin.
Buy foods and drinks in the fastfoods in the philippines.
Lastly, increasing and growing numbers of people using bitcoin in the philippines.
This is how our country adopting a new technology, How's yours? Please share with us.
Yes you're right because I myself is a Filipino and I am seeing the changes that is happening to my country in terms of adopting to bitcoin and not just bitcoin but to other cryptocurrencies available such as ethereum and etcetera. Before the doubts in this type of business or sort of thing is very high that they would never attempt to know that it really is and what it can do but now, even though there are still some doubts but many have erase those doubts that they started to be curious with it that is why when they have understand it, they started investing. I think it is only a matter of time that it will be a nationally recognized here. Me myself before is not that interested with but things changed when I have seen the effects of bitcoin and other cryptocurrencies to my classmates. |
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The biggest reason why most of us here are not really wary of what is happening is because everyone who knows bitcoin knows that situation is normal. It is really normal and it really happens. If you will try to check the past activities of bitcoin in the graph, you will see it for yourself. Now, if you compare this to other type of business, well you cannot really do that because bitcoin is bitcoin. It is very volatile and very subjective to changes that was brought about by many external and internal factors but don't worry, it will increase its value again.
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Thanks to the unforgettable dip last year, it attracts many investors and even normal persons to at least try know that bitcoin is and what it can do. It somehow erase their negativities and misconceptions like thinking these online business and transactions are all scam when in fact it is not. Also, thanks to the decreasing of the value of bitcoin this year. It is a blessing in disguise for the reason that it somehow tells them that it is not always Christmas here in bitcoin and there are times like these which it needs patience and faith that bitcoin will increase its value again.
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Well to differentiate the two, centralized money obviously is more regulated that is why it is not that volatile in terms of value and can be monitored compared to decentralized (well in the first place that is how cryptocurrency coin was programmed). The good thing about cryptocurrencies obviously is it has a store value and it can be used as a business venture by trading compare to the centralized which is just a form of monetary thing. Centralized money degrades physically unlike cryptocoin that is digital that cannot be degraded.
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Obviously, there is no target market in bitcoin. Everyone can and may absolutely use bitcoin if they want and whenever they want. It is not conform to a specific people or group people rather everyone can use it. I think it is on the person side if he can use it or not. What I mean is that the person must ensure that he knows many things before entering this type of venture because it is not true that when you start here you will only gain. There are many times you will lose money that is why you need to understand it very well before entering.
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As an investor one thing you shouldn't engage yourself with is Predictions, if you want to be successfully in this Crypto ecosystem, you need to stay off any form of market prediction.
Here are few reasons why you shouldn't engaged with it (market/price prediction)
1. Predictions can be wrong
2. Listening to predictions makes you a speculator
3. Listening to predictions makes you an onlooker
4. Price prediction gives you nothing for today, only false hope
5. Listening to price prediction makes you think in one direction
Finally
Don’t let speculation and assumption make you decide what to do.
Well there are many types of predictions and these types predictions affects on whether you will believe it or not. The main reason why we need to believe in predictions is that it is the core of bitcoin. There are this short term predictions and these predictions helps investors and traders on when to invest or buy and when to sell. These are the type of predictions that we should adhere. It may be off sometimes but in more common, it is happens. The other type, the vague one and the long term one, that's where we should avoid. |
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Well there are many possibilities on how bitcoin affects other cryptocurrencies that are available in the digital world. One thing is that sometimes, when bitcoin value goes up, altcoins goes down because usually, altcoins go on how bitcoin goes, meaning their prices are inversely proportional. There are also rare case where the opposite happens, they are directly proportional. But to the point that there is a significant effect of bitcoin to altcoins value, it means that bitcoin can really affect other cryptocurrencies .
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I came across a quote made by someone on this forum which goes like,'An open mind is one of the best assets when it come to cryptocurrency'.
This quote got me thinking, to make bitcoin (cryptocurrency) grow everyday in relation to clearing all misconceptions people have, we need to share our little knowledge about bitcoin on this forum. Sharing of knowledge will create an atmosphere for people to be open minded and also help newbie investors to understand the crypto world and the market. I realized there is quite a great number of very helpful people and resources on this forum.
What do you guys think? Do you agree with me?
Yeah, I think what you have mentioned is all right. It is because the reason why there are still many people that even know they know bitcoin, they are not engaging to it is because of the doubts brought about by the misconceptions and lack knowledge about it. The only thing know is bitcoin exist, but they didn't know all the things about it. The reason why there is a growing number of investors in bitcoin because they are becoming to know what bitcoin is and what it can do their life. Hopefully more and more people will erase their misconceptions about it because it can really help their life. |
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What would be your thoughts and prediction to what will happen in 5 years from now in Crypto?
Do you see higher values?
Do you see less projects?
Do you see a merger of many projects?
Tighter Regulation?
More acceptance?
Society in general?
It is really very difficult to predict what would happen for the span of next 5 years for the reason that five years can change a lot. We really do not know what would happen that we even do not know if we are still existing on that time. But to have at least provide a prediction with regards to bitcoin, I think in general bitcoin is widespread and became a part of the society just like money. That you can but anything with the use of it. Maybe the regulation of it is tighter compare to today and the price is not that high but more stable. Well, this is just my prediction, we gonna wait for 5 years if I am right. |
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No, I do not believe that. We must admit that what has allowed banks to acquire so much economic power is their ability to understand where capital is, and make the necessary efforts to keep it.
Knowing that banks will never fight against capital, what I see today is a growing interest of banks to incorporate blockchain technologies into their processes, and because of their marked interest in taking over everyone's money, it would not be strange that in the near future we will see banks willing to accept cryptocurrencies to carry out financial transactions.
I think banks now is just on the adjustment period where they initially consider cryptocurrency investment as a potential threat to their business for the reason that they will fight for investors but I shared I think banks will do on the long term is that they can really incorporate or adapt the idea of cryptocurrency. They will soon realized that they do not need to battle with cryptocurrencies but instead to cooperate with it. They already see the growing number of digital coin investors and these banks can capture these type of investors only by also offering cryptocurrencies. |
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In recent days we have seen lots of news which are negative about bitcoins and how government and Banks are doing whatever they can to limit the exposure of Bitcoins to people.
Like recently the banks banned the bitcoins transactions in India and since there is no money or hand to hand transactions going on now people won't be able to buy and sell bitcoins using the money in their banks . Person to person transactions is something that requires us to paly with a dice of luck.
What you think Bitcoins can do to survive in this world right now ?
What can it do to gain favor of the government and banks ?
Could it be possible that banks see it as an ally contary to a threat ?
Aren't government already regulating Bitcoins and aren't they already making people pay taxes how much they demand ?
What you think Should be the next move of Bitcoins.
I think there should be a body to Target these kinds of issues and body which will stand up for bitcoins and other cryptocurrencies and present them in from of the judiciary, so that everything can be fair .
Right now governments are doing whatever they please.
Obviously, bitcoin can survive even we have your aforementioned problems just simply because we all know that what you have mentioned are also the problems before. What happened? Even thigh we have these problems, bitcoin managed to rise it's value that no one even taught it can. But to answer your question, some banks see bitcoin as an ally for the reason that there are growing number of people who uses cryptos that is why they need to cope up with it by also offering cryptocurrencies. Also, the only thing that bitcoin needs to do is to exist, because it will answer the doubts of the people itself by increasing its value. |
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This is a great news indeed! I think it is a win-win situation for the both sides. For bitcoin, obviously if a country legalized then it will create curiosities, erase doubts, and attract investors because there are still unnecessary mindset of some people about bitcoin. For the two countries, first is Uzbekistan, it might help the country to somewhat decrease the gap of rich poor gap and will help their economy and for Iran, it will create more miners because as we all know, energy in Iran is not that expensive compare to other countries. |
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That a great news! Even though it is not the first time of a major sports industry using bitcoin, still it is a great news! These type of news really helps bitcoin because it will bring a more reliable look because if a big sports industry uses it, then doubts will be erased. Also, if a person idolized and I am sure many idolized knew of the person that were involved in this event, they might somehow copy their idols doings or emulate them that is why they might also try bitcoin because of these curiosities. So this is really a great news and will somehow I think stabilize bitcoin.
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No, I really do not believe on predictions even in other fields such as whose gonna be a champion of any sport like NBA and etcetera. It is because there are always these unexpected happenings that changes the outcome of these things. With respect to cryptocurrencies specifically bitcoin, the unexpected possibilities increases because we all know how volatile bitcoin is and how easy it fluctuates. Almost all last predictions that was predicted by these so called experts really didn't happen and only a few comes to reality. So I do not really believe on those predictions.
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Although I joined this forum not long ago but the replies and education that I have read and also received from the bitcoin enthusiast on this platform has really equipped me to also help others. I was there yesterday when a man from nowhere came to my mum and asked her where I was and she called me for him. The man has heard that I have been helping people in the investment of bitcoin and also introducing them to the crypto world. Not knowing that this man has bought a Lambo with his bitcoin investment, I asked him who told him and he was laughing at me.
He then told me a friend of mine introduced me to him. He then asked whether we can set up a crypto school in our locality which we will also use to help people join us and also benefit from it. Although I told him I am thinking about it but friends do you know why I have already accepted his proposal in my mind but I want to know from you guys that is it good to tell him I have accepted or I shouldn't accept his proposal. Need your suggestions my seniors.
Well the success of his proposal or your plans is actually about the environment you have like the country you are in. If on the country that you are living, cryptocurrencies are prohibited or if not prohibited, is not that rampant to your country meaning not that known, I think that plan will just go to waste. It is because obviously, if it is prohibited you are warned not to do that and if it is not prohibited but not that famous to your country, it might not really attract people for them to go to that school you are planning to create. |
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