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Under current regulations or what they call 'fatwa', even though bitcoin is considered the currency of the future and part of technological development, bitcoin cannot be separated from one of the elements that can make it forbidden to use. The element is uncertainty. Bitcoin is considered to have this element because the price is so volatile that people like gambling when buying and selling bitcoins, and gambling was forbidden for muslims. how do you think about this?
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I regard the bitcoin price drop as the law of a spring. You must know that the more tightly a spring, the impetus will be stronger. Thus, the current price decline, like a spring that is docked and ready to release barriers to a higher point. therefore, I agree that the fall is not a bad thing for bitcoin and other cryptocurrencies.
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Bitcoin will not grow only from positive news. Recently, there were not so few of them, but the rate is still falling. Simply, there is a time of growth and there is a time of falling market stagnation. Now the fall and not where to get away from it, even with good news. Just need to hodl.
Probably you're right, it's like running a business where there is a moment of ups and downs in it. We cannot demand that the market is always in accordance with our will. As long as prices are still influenced by supply and demand factors, we can only face reality and look forward to things getting better. |
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well, it becomes a problem for investors, as long as bitcoin cannot be said as a global digital currency of course movement and access to a transaction of sale and purchase of goods still very limited. We still need an exchange in which we will pay a fee when withdrawing. If in the future, bitcoin can replace the whole Fiat function, we may not need to pay taxes anymore, although the possibility is very small, because a tax is one of the main income of the government.
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I've been asking this in a different way that is whether bitcoin is only for the middle class and above. Apparently, most say no, and the conclusion is, bitcoin is a technology made to facilitate the transaction is no exception big or small transactions, upper or lower circles. No wonder, why bitcoin can be divided into the 8-digital number, in order to reach a small transaction if the price has skyrocketed.
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I will warn you not to be too sure and believe in the predictions and speculations of others. Although the prediction is from an expert though. Bitcoin is estimated to last for 20 years by "SN". That is just a prediction which means that bitcoin is a technology that has age or fame limit. It could be 20 years is the longest possible, and you will not know if bitcoin has reached the age of 10 years, this technology will stop there or continue to grow.
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it's all about money. we can not blame the media because of the many oblique issues circulating about cryptocurrency, and we can not appreciate the media because it has spread the phenomenal news about this technology. That's how the media live, create or search trending topics and processed into a discourse, news, or certain articles from which they can take advantage of it.
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The new merit system: The good, the bad, and the ugly! The good: Only the quality posters will rank up. The bad: Even if you post quality contents you may not get many merits by the people. The ugly: When you post great content many people are lazy to click and go to the next page and add the merit(s). Share your thoughts about this merit system latest development, thanks  How ironic is not it? there may be a possibility to level up for the newbie to the member level, but to climb to the next level is very difficult and takes time. It is true that you say, most people are just busy to comment on and are too stingy to donate merit, although there is, it is good to be given more than 1 merit, although they have a lot of sMerit. |
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Probably so many think if he invested in cryptocurrency, it means he has been trading too. Yet these two things are very different. Here are the differences of investing and trading according to Warren buffet and Jesse Livermore:
INVESTING (Warren Buffet)
- More concerned with a fundamental analysis ( ratio, cash flow, etc)
- Typically longer term buy and hold
- Much less sensitive to short-term price fluctuations
- Very little commission fees due to infrequent buys and sells
- In the mindset of " Part of the company"
TRADING (Jesse Livermore)
- Technical analysis based ( Chart patterns, indicators, etc)
- shorter term, many more transactions
- sensitive to short-term price fluctuations
- potential for larger returns in the short term
- More paid in commissions due to many transactions
which one are you?
I really appreciate if there is any additional difference between the two.
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You can do it both. Unless if you are earning so big in bitcoin then you can stop working. Bitcoin dont require exact hour to work like the regular 8 hour job with same time everyday. You can do it anytime not like in a regular job you have. So i guess you can do bitcoin on ur free time or break time. So do it both for now.
Right. Why enjoy both having a day job and do trading as sideline. I think most of us have taken that route. Trading as a sideline to earn few money here and there. But when they gain enough experience and save enough money, quit their day job (if not getting big salary) and concentrate on trading. But I don't know though because last 3 months was really a turmoil I hope that those who decided to quit and focus on trading is still up and doing good or at least enough money to bring food on the table for their families. yes, you can do both where the job remains the main source of income, and cryptocurrency becomes additional income beyond which is the greatest income. If you have to choose one, choose what you think is good for you in the future. Although cryptocurrency is predicted to be part of the future economy, it is all a speculation that is not necessarily true. |
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In order to prevent money laundering, terrorist financing, and illegal buying and selling of goods, the role and cooperation of the exchanges are necessary because the gate to exchange cryptocurrency to FIat is only on the exchanges. Therefore, the government should monitor the exchanges of undesirable actions and may damage the good name of cryptocurrency.
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as long as the bitcoin you get from other wallets didn't melt into the Fiat, of course the government will not know how much your income and how much total assets you have. That is, the assets you own remain anonymous. Another case, if all the bitcoins you have sent to the exchange to sell or cash out, of course the government already had a huge data treasure that you have since your bitcoin in store by the exchange wallet. However, the government cannot suspect the assets you have is illegal, as long as you can prove it where they come from.
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as I know, the income tax is paid once a year, specifically in my country, the amount of tax we have to pay is the result of total gross salary in a year, reduced by monthly deduction, then multiplied by 15% (for $ 4k - $ 20k earnings) and it is all calculated in the form of currency. Well, if this is also applied to the sig camp, who is harmed?. After all, this is not an official job regulated by law.
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cryptocurrency is a place of technology filled with speculation. Everyone is free to make predictions based on their respective calculations and so far, maybe this is the lowest prediction I've ever seen for bitcoin prices. For the moment the highest predictions are still held by John McAfee ie $ 1 million in three years, which means 2020. If you are a real Hodler, you still need to wait another 3 years to see the profit you will get for a price: a minimum of $ 90k or a maximum of $ 1 million.
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I knew it after facebook and google here comes another one of the giant social media which is twitter are planning to ban crypto and ICO ads, this is another good step for the crypto world in order to avoid and lesser people to get involved in those scam projects and I am sure legit ICOs can find an alternative way to promote their project without using these social medias involved.
Agree, almost all social media are connected to each other, Google connected with youtube, facebook connect Twitter and Instagram, and all of course have a relationship with Google. If so, they want to reduce the scam rate that mostly happens to ICO's, they will ban all advertising that can harm users on large social media and other advertising facilities. |
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That strategy requires you to have good timing on the market. But the problem is, by doing so, it will make you emotional and you will be prone to make mistakes making you lose some of your money.
If you want the best strategy for ordinary investors like us, "buy the dips". If you have a job you should save 20% of your monthly salary and make that available to buy when Bitcoin's price is falling.
I really appreciate a very good advice. That is what I think so. I know a friend too, that became sad because the value of bitcoin fluctuates a lot. He is so eager to trade the bitcoin he have now but he can not do anything but wait. Truly is, we sometimes become emotional in times like this. But if we have a good capital we can be happy since we can buy coins and sell them in the most appropriate time. Therefore, buying coins at its lowest value and selling them at its highest value. That's why everyone's views are different from market conditions. Those who only expect instant profits without observing and learning first on cryptocurrency before deciding for an investment will see the present moment as a disaster. While those who have experience in the market cryptocurrency actually think this moment is a rare golden opportunity. Buying low and selling high is a dead price. |
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Too early to say anything like this. Of course, opinions and views of each person to market conditions vary. It all depends on each entry point. If you buy bitcoin at a price of about $ 5k, of course this position is very promising for you. Another case with those who buy at a price above $ 15k. Every day they keep checking price movements but the happening is not so happy for them.
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Indirectly. Although cryptocurrency has been banned from being used as an official transaction tool, governments in my country have not yet set rules on taxation of revenues generated from cryptocurrency investments. Although indirectly we still have to pay the taxes imposed by the exchange site that we use. Naturally, to open a business, be it financial-based and other services, of course they need permission, and every business must pay income tax every year. Ironically, the amount of value-added tax in my country is at least 5% and a maximum of 15%. If we withdraw money from the exchange, we are charged 1% of the total withdrawal. That is, we only pay a portion of the taxes that will be charged to the exchange.
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Banks really fear Bitcoin. Only one example: central Bank in Poland with some other finance institution organized campaign to discredit Bitcoin and cryptocurrencies. It was done through Youtube recently.
This has been going on for many years now. Negative propaganda against Bitcoin by the banks is not something new. It was going on even in 2013. But the case of Poland is surprising, because some of the banks there used to issue debit cards which can be loaded with Bitcoins. That is something we have been looking up to, for bitcoin to be recognized by us and for banks to accept it. In my case, here in our country, central banks are worried that because of bitcoin and all other cryptos fewer people are going to use banks as their safety money vault. We know that online wallets can replaced banks (not easily, but it is possible) because many people are trusting these wallets and their own hands in handling their financial. Online wallets enable us to accessed our money easily and allow us to manipulate if without having to go in an office and fill up documents. Banks do really opposed the use of bitcoin because it is not benefiting them; instead, it is becoming their competitor in the trust of people. As long as the current situation continues to survive where bitcoin users are still less than 5% of the population worldwide and from that figure, it can be said that more than half use bitcoin as a means of investment, not for transactions, banks should not have to panic about this. Bitcoin has been around since 2009 but has not had a major impact on the economy as well as the way people transact (overall). The banks in the world should be able to use cryptocurrency technology rather than just worrying about it as a threat. |
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The problem is the huge need for immediate satisfaction so I couldn't really HODL I guess and lost almost all of this.
This is the common mistake of traders, they forgot to make an exit plan or they may have an exit plan they didnt stick to to. Some have an exit plan but the goal is unrealistic. I agree that HODL is the key to this but theres a lot of temptation to Sell when the price is down or the price is up. Bottom line, don't be greedy, be realistic and stick to the plan. Yes.Once you start trading,set up your goals and know your limits first.You may meet some temptations along the road,but if you really want to succeed, stick to your plan.Most of the time our emotions are our best enemy so by avoiding greediness inside, we can avoid big losses too.Just learn how to be patient, and everything will fall down under your expectations. in this cryptocurrency investment we certainly often face the moment of fear of a market that is crash, not satisfied with the 50% profit and always want more. yes, it's true it's all part of human emotions, and that's normal. Then how do we to cope? ie by consistently taking a choice set the take profit point you want and will not sell if the price has not touched your take profit point. As with the stop loss point, you alwo need to set a stop loss point to avoid bigger losses. |
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