Bleeding from the rectum doesn't always mean cancer. There are many other possibilies: hemorrhoids, diverticulitis, inflammation, ulcer, colitis, crohn's, etc. Most people that get colon cancer have no known family history, so it is always wise to check out any rectal bleeding. And, yes, colon cancer is also hereditary. If there is a family history, the chances of getting cancer and precancerous polyps is greatly increased. My father, grandfather, and great grandfather all had colon cancer.
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Hereditary? 
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