In January 2009 after the release of Bitcoin, the journey to financial freedom begun, i believe this is the right platform for me to learn more about bitcoin, though Bitcoin is 14 years old now, hope i'm not too late to join the bus?
May people have think of this, that they are late in bitcoin, but from my understanding I know quite well that their is no time you bitcoin is late or abnormal time to join bitcoin, but I believe that bitcoin technology will not die so therefore anytime you join the forum of bitcointalk you will still learn and understand the preamble or basic things about bitcoin, what you need is consistent research and observation in cryptocurrency that will enable you to understand more of bitcoin, because some years back in forum they have discussed many things that is related to bitcoin so nothing is new of bitcoin except some of the measures of the security. I think we can join bitcoin any time, especially now where the bearish period hasn't ended yet so it's even more profitable for us if we want to start. if we join in 2021, maybe it's still floating minus right now, it's different if you join now, it will be easier to make a profit because the price is still below $30k. therefore taking advantage of opportunities will be better, at a time like this. but remember you have to learn to understand bitcoin before deciding to invest, so you don't make mistakes |
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One side needs another side bad. yes. Consideration for the basic reasons behind this loan must be clear first. For example, if an individual borrows a certain amount of funds for productive purposes such as investing in a business or crypto assets with good potential returns.
Do you support the idea of borrowing loan to get crypto asset? How are you sure if it will come with good potential returns. Well, all I know about borrowing loan is that, you can get a loan to improve your standing business but you shouldn't make a mistake borrowing loan to start a business. Borrowing money for investment or business is really risky, but there is no success without taking risks and trade-offs. therefore, borrowing money is not necessarily bad but will depend on each case and each person's circumstances. you borrow money because you can't gather that money in a short time to prepare the business. I mean, you can pay that loan even if your business fails, borrowing money can be considered. But if you have no other assets, and no income, then borrowing money is a stupid idea. right, borrowing money to buy assets is not always bad, depending on the background. For example, an investor sees a good opportunity to invest, while he has no cash and his assets are still tangible in property assets, so he dares to take a loan, which may be only 15% of the value of the assets owned, if calculated mathematically, suppose the investment fails. total then he had no trouble repaying the loan. even though bitcoin is an asset that is purchased, it feels difficult to go down and become worthless |
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china is a smart country, of course if there is a good opportunity, then they will carry out their strategy, but the problem is sometimes the path taken confuses us, but indeed maybe it is part of their plan to dominate the cryptocurrency world, moreover we know in this business people dominates it will be easier to control it. maybe the previous china didn't want to just be a participant, but what they wanted was to be the ruler
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I understand your concerns about declining interest rates and economic challenges. In my country, it's a tough time for many, with many businesses collapsing and limited investment options. In this uncertain situation, I believe it's important for one to prioritize stability and explore diversified saving options. While cryptocurrencies may offer potential, one still needs to be cautious due to market volatility.
When conditions are difficult like today the best thing for us to do is try to find many sources of income, many people complain too often so they lose ideas to be better, and in my opinion the current opportunities are very easy for us to get, cryptocurrencies are of course an alternative income and don't make it as top priority. To get a new source of income, most importantly we must learn to understand the field of business before plunging into the business world. like the crypto world, we must be able to understand cryptocurrency and ultimately the results we get will follow as our knowledge increases. moreover, we work on crypto, it doesn't interfere with our main work, because we can set the time according to our activities. moreover, the crypto world is not affected by existing inflation |
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the most important capital in any business is knowledge about the business itself, that way we will know the risks and rewards so that it will be easier to create a framework according to our own abilities. and that's why after knowing our abilities, we will set targets according to logic, so as not to fall into a slump. if our capital is small then we have to adjust the achievement, don't let us have small capital but want big profits so as to increase risk
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This market, as well as many, is speculative, the beautiful thing about the bitcoin market is that the market is not controlled, this market can be controlled according to the money you have, otherwise there is no way to do it, in every speculative market it is full of institutions whales, and obviously the effects of the fundamentals that affect every market and if it is speculative, but the interesting thing about the crypto market is the volatility, whoever understands and manages volatility can make a lot of money and apart from that, it is a great plus, because volatility in the crypto market is unique and the main ingredient of this market.
indeed volatility is a strong attraction for this market for some beginners who have the intention to invest. this is an opportunity to make a very attractive profit. Unfortunately, many beginners mistakenly think that they will get rich quickly by investing in crypto without knowing the risks of market volatility itself. here the lack of understanding of the market and crypto assets becomes the main problem for beginners who just put their money in a hurry. things that happen a lot for beginners who think investing in cryptocurrencies is an easy way to earn money. of course with knowledge we will get satisfying profits, but to gain experience we have to learn and go through a long process, after that we can understand the direction of fluctuations to place speculations so that they can be turned into profits. therefore don't just look at the results of someone who is successful in the market, but we have to find out how they can be successful, survive in the market |
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But at this point, I will really like to know whether or not Bitcoin trading is a means to gain profits during market speculations, and how possible it is to make passive income through cryptocurrency trading.
I will give you the shortest answer from my experience since this topic is complex and touches various perspectives including market manipulations. Trading is not easy and if you have heard of someone getting rich through trading without any experience that’s a pure gambling. Based on my humble experience earning a good amount of money through trading requires a significant initial capital before starting to manage your risk, Safe and sustainable trading typically brings monthly profits of around 5%-8% of your capital, with the possibility of having lost months sometimes which is normal. So yes it is possible to generate passive income through trading, but it requires following specific rules, gaining experience, and practicing patience. a person with minimal experience in trading but he gets big profits, I think he is lucky in his gambling, but for trading in the long term I think luck will not come continuously. therefore learning from the beginning I think it will be better for the future of our trading. and one more thing there are many incidents around me, in fact many people use small capital but want big returns of up to hundreds of percent, they are proud if they can achieve it in the near term, but many of them don't last long, because trading must have logical portfolio |
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It’s not a big amount but it’s simply what beginners only need so they can manage their losses if ever their trades become unsuccessful. And since they have less experiences with trading, then they should not jump into putting big amount of capital because that will only mean huge amount of losses as it’s rare to see newbies in trading ends a trade with a huge amount of profits.
indeed starting small will really help us to apply the strategies that have been learned in theory, so it remains only to practice and understand the difficulties encountered in the real market. not a few of us will experience a variety of new problems, especially with ourselves personally so struggling must be able to overcome them, and of course there will be many other new things. as time goes by, we will have a lot of experience and be smarter in trading, and I think the capital will increase by itself, so learning gradually will be better |
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and you cannot trade with the money that you need to spend on yourself or your family.
I'll never do. I'll not put that money at stake in a risky market even if I am the best in trading in my family. I just don't feel that there's really a need to use money that's allocated for something else. It's unethical and also could break some trust from the people in your family if that money is known to be used for more specific and important matters. you are right, if it is not money that we can use freely, then we cannot use it for trade or investment. however, some people may be reckless when they see a bear market and become challenged to sell real assets to buy Bitcoin or altcoins for investment. it's not ethical but in this world, there must be people who choose to take such a risk to become bigger or get destroyed in the future. Unfortunately, many people have the ambition to buy with money that may still be used to make ends meet or even money from debt. incidents like that happen precisely when fomo comes and the market is experiencing a panic, so they feel afraid to miss the moment. until finally hoping with money that doesn't know where it came from is used to buy assets and hope to get big profits soon, therefore free money and our mindset that investment is not for the short term is needed so that it meets expectations |
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BNB is a trusted altcoin for now apart from ethereum, at least investing in this altcoin will be safe. and in 2023 BNB has reached a price of $300+, and so far this month it has remained stable at that price. we can imagine that if bitcoin is increasing, then of course this altcoin will also increase, even the increase will be greater than bitcoin. therefore this altcoin is very worth investing in
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Hello i just want to ask if i you guys also notice when the bitcoin rise there are also a lot of new projects come out and if bitcoin fall there are only few projects build, is it because some projects developer notice that most of the successful projects are build in bull market and most of the projects build on bear market are failed? Or they don't care about bull and bear market and they build thier project because the time is already been set?
People who do business to survive in real market never consider bear market and bull market. And those who work towards the future without considering all these things are successful. For example, ARB and ID lunched token few days ago, but they did not consider the bad market conditions. They have come and been successful with the future in mind. So it doesn't matter whether the market condition is bad or good, if you have a real project, you can definitely achieve success in any situation. but indeed when the bullish season arrives the capacity of new projects will increase, this is in line with the large number of investors entering the crypto world, so many projects take advantage of this moment, and of course there will be more pump and dump action on these new projects, so we have to be careful if you want to choose it, most of them don't think about the project in the long term, so it needs more careful research |
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if you are a beginner and want to trade, the first thing to do is learn about trading theory, until the time is right you can learn trading practice, and even then of course there are still many mistakes to be disciplined in the analysis that has been made, and finally you can correct yourself about the weaknesses of the strategy and yourself, to finally become a better trader. Of course, don't be in a hurry to quickly get money from trading
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Altcoins are good investment with increased risk, because of many incidents happening negative with the altcoins. We don't know whether the growth will last for longer time period or not. Most of the altcoins market crash happens out of the lack of development or out of the improper fund handling. With altcoins it is good to keep it for short term profiting as well as into trading.
Still, it is better to invest in top altcoins than in others, especially in meme coins. An example of top altcoins, which are almost always in price, is ethereum. It is safe to invest in this top coin for a long period. Of course, but not a single cryptocurrency is immune from periodic price losses, especially if this movement reflects the general direction of the market. Top altcoins are much safer than others, but you always need to be interested in the prospects for the development of a coin or token in order to make the right decisions in time. besides that by choosing the top altcoins we can get bigger and relatively safer profits. although the safest investment remains in bitcoin. many people are tempted to invest in cryptocurrencies, but they don't understand it, so in the end people like this are the ones who lose money later because usually they will get panic attacks, so they are not wise in determining their attitude |
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As 2023 is going to be a tremendous year, and the elite are working towards the new world order whereby new digital currency will be introduced. If btc happens not to be part of that agenda, so will investing into btc against 2024 a wise decision?
Op you don't know what has been existing and what is going to exist again? If the elites are going to introduce new digital currency bitcoin will not be among on the new plan because bitcoin has been existing since so if they are planning then bitcoin is to expand and not going to be among the newly creating coins. Investing bitcoin now agaiinst next year 2024 is a good ideas. But before you invest you have to understand the market and the risk involved. Bitcoin is always on the agenda to expand 2024 is only next year from now while the bitcoin opportunity is still long with the user population still minimal, and it is possible that it will grow all over the world. although digital money appears in the future and bitcoin for example is not mentioned. then investing next year still has a good chance, considering bitcoin is a decentralized system that is the opposite of the banking system, so freedom seems to be fully guaranteed |
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I just want to add that investing your spare money in BTC is always a good deal long term, but short term, it is not always so. By "long term" here I mean 10+ years, and by "short term" I mean something around 2 years. I think, these days, when Bitcoin is still under $30k, and even when it will be under $40k, investing in BTC will be a good deal even short term. I may be wrong, like anyone else. Use your own head. But that's what I think about the current situation we are in.
Actually, 10+ years is really a considerable long term indeed but the question is how many of Bitcoin investors will be able to hold through all the time till their arrival at that stage because 10 years is really a long time to be considered for a speculative investment like bitcoin. Don't misunderstand my point, what I mean is that if one could possibly reduce the waiting/holding time to 5+ depending on your age and the nature of your invested fuanywaysways. the same is the case with other investments, maybe if it's only 2 years the results are not yet clear or even you are still losing money. but in the long term like 10 more years, maybe it will benefit. but if we talk about the best return, then the moment becomes a determining factor to get the maximum result. suppose we target to hold it in 10 years, it turns out that in year 9 the price has soared, then I will sell it at that moment |
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Most persons purchase most items using Bitcoin transactions I am of the opinion of hodling instead of spending pls is that a positive mindset?
during a bearish season like now, it would be better to hoard bitcoin than spend it, because the opportunity to make a profit will be greater. unless it's a bullish season, there might be no problem spending bitcoin, because we will also sell it for profit, and on the one hand the price of goods is still based on fiat currency. but in my country it is less effective to use bitcoin for payment, because there is no legality yet |
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it is very nice if what we do get support from parents, because if allowed it is a prayer from parents. Moreover, your parents are not only supportive, but also provide additional funds for investment. therefore, use the moment as well as possible, especially since December until now, it means that there is already a floating plus, and this will increase enthusiasm for investing again for old age
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Should newbie traders be only concerned about making profit? I do not think so.
What do you think, let us discuss?
While I agree with the OP's point, can I also point out that profit making is in trading shouldn't be ignored. Because if all you have experienced as a trader is loss, I can bet that you are already demoralized and demotivated to keep trading. As a newbie trader, it lies on you to find an equilibrium point between making profit and being grounded in the principle of trading. Make profit will keep you interested in trading. and making mistakes or losses in a row will lower a trader's confidence, therefore at least between profits and losses can be balanced, so that we will be more enthusiastic about dealing with trading. after that we can develop ourselves about the trading knowledge that we adhere to, so that the winning percentage can later increase, and continue to be improved until finally having a greater percentage of profits |
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Somehow a form of investment to other but they need to deep dive the technicalities of the market so that they can maximize their profits. If they don't have trading plan set on their trades its like they are hoping to earn by luck. But not other can afford to trade since they can't handle their emotions towards some certain condition this is why other choose to hold because this is safe thing to do especially for people who can afford to wait for the price to grow in next following years.
Not having a trading plan will have repercussions on the results you will get. this is the same as walking without direction and purpose. If the goal is profit then it must have a trading plan to profit from trading. Long term or short term both use the plan. It is easier for those who are not very familiar with technical analysis to make long-term investments by holding a certain price limit, not holding it indefinitely. Being able to wait for a long time is also able to be unaffected by FUD and FOMO. trading plans must be made to be rails in our trading execution, and we try to be disciplined with these plans. that way we can assess the strengths and weaknesses of our trading, so we can improve it. it's different if we trade without planning beforehand, of course it's just trading, not trading properly, and in the long run there won't be any changes for the better, many traders like that will repeat the mistakes they have made |
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