They are usually a utility token that's going to be used in the platform when the platform itself is live but as you know most project in crypto doesn't have a working platform yet so right now they are used as a speculative asset in exchange. Some of the token act as dividend token and you can get dividend if you hold it in a certain time, they are going to be used in different platform but most of them is utility token.
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Corruption will be there with or without crypto as long as the morality is bad, certainly a decentralized or more transparent system can help decreasing that kind of thing but you shouldn't forget that bitcoin itself is pseudo-anonymous and they can use it to do bad thing. It's also will take a long time to implement blockchain to every aspect of our life.
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The value of your money will certainly lose due to inflation so it's always good to invest your money so that it's value will grow. Inflation is good as long as it's still in acceptable range, if it's goes out of control then it will be a big problem, here the loan rates is quite high so maybe it's different in developing country like this. Some will indeed create their own token/coin in crypto but it's not going to have value unless a lot of people start using them so they will just stick to the current popular crypto.
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It will be replaced by another store of value but that won't happen in near future as bitcoin itself is fairly new. There will be something with better tech that will be suitable for store of value but I don't see it happening in the next 10 years, bitcoin itself only around for about 9 or 10 years so far and it's still in the early development stage so there's still a lot of time for it to established itself as a great store of value.
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I have some opportunity loss from the coins that I haven't sell when the price is near ath but I already sold most of my coins so I don't lose that much. So far i'm still in the profit because I get into crypto last year when the marketcap is still small and bitcoin is only about 2k. I am quite lucky to get into crypto quite early and get the opportunity to accumulate before the bull run started.
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Of course I can wait, i'm in for crypto for the long term and I already cash out most of my alts last December so i'm in a good position right now as I don't have a lot of money in crypto so I prefer the market to move sideways for some time so that I can fill my bag again. If you bought at top and down a lot right now then it's definitely the best to just hold for a few years until the value of your crypto go up.
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It is certainly possible as we've seen one in turkey but I don't think that all fiat will crash as the possibilities is really small, If you live in one of the country where the fiat is slowly getting weaker and weaker then it's best to convert your money to some kind of store of value like gold or maybe crypto although crypto is not a good store of value right now, that way you won't lose a lot of your money.
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I don't like this kind of thing because it creates a fake hype into crypto that won't last long, maybe they can boost the price in short term but it won't hold and go down again sooner or later. A healthy organic growth is better because that way there will be strong support for the price and the price will increase with more and more people invest into crypto although it will take quite a long time.
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Decentralized exchange will be the future but right now there's only a few dex that's good to use. The problem with dex is right now there's only a little trading volume and there's no liquidity that makes trading harder, people complain about the expensive fees or dodgy action that centralized exchange does but they have a great trading volume and people will prefer it as they can trade easier and the ui is easy to use.
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When do you want to invest is definitely your choice and you should follow your strategy, if your strategy is long term holding then it's fine to buy the alts right now as the project value will definitely increase as long as they deliver the promises. But if you are looking for a short term profit then I agree that it's better to buy when the market is down especially if you can catch the bottom.
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It is indeed safe if you use it properly, the most problems in crypto is the user mistake, not myetherwallet fault. As long as you keep your private key secure and always double check before opening the site then you'll be fine. If you have money then it's even better to buy hardware wallet as you don't need to worry anymore because every outgoing transaction has to be signed from the wallet.
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I always wondered what is the problem for BTC to be finally adopted in the wide range of business, I was expecting at least a great adaption in the online business but even so, what stops business from adapting BTC, the volatility? The low rates of adoption? Or maybe a lack of propaganda? BTC is so great and I really wish I could use it in more places IRL!
It is because the price is very volatile so you have to swap it for fiat soon or you'll earn or lose more, the transaction speed is also one of the factor that make the adoption hard because it has to be faster and cheaper if it want to be used in a lot of places. Also not all people know about crypto or bitcoin and want to use it as a payment option so the cost to implement it may be higher than the benefit.
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I occasionally use it to purchase digital goods from some sites but other than that I only use crypto for trading. Cryptocurrency as a form of payment is banned in my country so I can't use it to buy things offline and there's only a few sites where I can spend my crypto, I guess in a few more years we will see more crypto adoption that will make crypto more useful in our daily life.
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I kind of understand this concept if you are talking about stocks market because it is still a real companies but in crypto it's like you are trying to catch a falling knife, sometimes I am trying to catch the rebound to get a quick profit but it's still quite scary to do that in crypto as the price can go really low because of the thin buy order, maybe it's just me that's still unexperienced buying when the market is red.
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Tax is very important to run a country because that's the source of the country budget that will be used to pay expenses such as building infrastructure, paying the salary of government employees, etc. Whether people like it or not, they are using the road that's built using tax money everyday, if the tax money is used for the right thing then it will help a lot of people.
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We all know this year is one of the worst year of crypto, market is dead and new investors are in fear to enter, My portfolio is 75% down as compare to January. How long this market will take time to recover?. I am stacked in holding.
The last crash took about 4 year of sideways movement before going up again and no one know how long until this downtrend will end. The market is indeed more mature if we compared it to the last crash but it's going to take some time before people that got burned will come back again. You should've sold / cut loss before you lose that much so your money won't stuck for a long time.
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There are just couple of question I need some answering from people with enough experience in crypto.
Any particular tips on when to invest token when the prices are low? And how can one manage to hold the tokens even the prices are bleeding? Is there a specific time where one can pinpoint the best way to accumulate tokens?
Thanks for sharing your thoughts!
If you know how to read the candle then you can identify if there's a pullback and you can buy at that moment to get the nice rebound profit. I always do that if I have spare cash and most of the time I earn profit from that, ranging from 5 to 15% and that's a lot considered the short time frame. I usually set a top loss at the price I bought so if the token is down then I only loss a little. You can buy everyweek if you hold for a long time, or you can do it when the market is down to average down.
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Of course opening a new jobs will help them but there's a lot of unemployed people and you will accept the one with the best qualification, you won't just accept poor people because there's money involved with your business. If you want to help them then it's better to teach them how to make something to sell rather than just giving the job because it's useless if they are lazy or don't have the required skills.
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So saw many self airdrops of ERC20 tokens and wave platforms in social media. They would promise their investors a cheap token price purchase, and in turn promise a good listing price at the exchange. 98% of these self airdrop never make it to exchange, and the few that get listed in a decentralized exchange get pumped for 2hrs and there after dumped forever. Why do you think people still patronize these scamming project and not study good ICOs and buy?
I agree with that, there's too many people that's uneducated about investing or how economic works and they believe that get rich in crypto quick which is not true. People want to get rich quick and the greed make them make bad decision that's why they invest in that kind of project. Some of them don't even have the capital so that's why they join a lot of airdrops.
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That would be 5 times of the current marketcap and looking at the market condition right now and the fact that there's only less than half year to do that it's almost impossible to achieve. The last bullrun didn't even manage to reach that high with all the hype in media etc and now that a lot of people got burned because of the crash it's really hard to bring new money to the market unless something really great happen.
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