Here are some valid reasons that made me to love Bitcoin:
Bitcoin is completely decentralized, which means that no government or banks can have control over it. Traditional currencies, such as fiat, for example, the US dollar, Euro, and others, are controlled by banks and governments, but Bitcoin is not controlled by anyone. It works on a P2P (peer-to-peer) network of millions of users.
i am trying just to be neutral, the decentralization concept on bitcoin is like two sides of the blade. In one side it is an advantage that like what you said but in the other side it is a disadvantage because no third party who regulate your money it means there is no party who protect your money from any disturbance. then the second reason is one of the reason scam risk on this digital money. especially in the absence of a legal umbrella to protect, it makes digital criminals more flexible to carry out their actions. therefore we must be able to secure our wallet so that it is not hacked with tips that have been widely circulated in this forum. but from that risk I personally still love bitcoin because it provides additional income to deal with an era of soaring inflation. therefore with bitcoin it can prosper the family economy. but there are also a lot of people who hate bitcoin because they don't have any prior knowledge of investing, so get carried away with disastrous expectations |
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Expecting bitcoin to be stable is completely wrong. The way Bitcoin have been developed is to function upon the demand to supply which makes the market to be volatile. There were more predictions that the market will turn stable when the adoption of bitcoin reaches larger scale. According to my understanding amidst all good things happening around, it is really impossible for bitcoin to be stable. Also most of the people who were hard users of bitcoin never want this to happen.
The people who want bitcoin to be stable are the people who wish for bitcoin to be the currency, just like the original purpose for which Satoshi created it. But this number is minimal, most of the participants in this market are for profit, and they see bitcoin as an investment. Like many others, I also believe that Bitcoin will never be stable but its volatility may decrease as its popularity grows. And honestly, I don't expect bitcoin to be more stable, the greater the volatility, the better the chances of making a profit. Correct. with high volatility that occurs, it makes people able to take advantage of that volatility to make a profit by trading. but if all countries have legalized it, it won't take long for the volatility to decrease, because more and more people are holding bitcoin. but of course this is still in the long term, bearing in mind that currently there are still not many people who know bitcoin from the entire human population in the world, so we still have many opportunities to make money by taking advantage of the current volatility |
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Demo trading is like trying the platform itself, familiarizing about it though you can do the actual trading but there’s no risk on that and your emotion might not be present by that time but still using a demo trading at first is a big help.
I don't think demo trading has actually helped anybody learn to trade. A couple of years back I tried forex trading with a demo account and it felt like I was learning because I was making profits, but when I started trading live, I lost all my money. I think that's part of the reason that discouraged me from foreign exchange. What I find most annoying about demo trading is how easy it is to trade and make a profit. All this is to make sure you trade on that platform. Normal to experience that situation since not all the time that what trades you do using those demo accounts will also happen when you are at real time trading using your own money. Remember that market is unpredictable so maybe that's the reason why you lose your money since you didn't expect some situation and you got caught up with it. But for me demo accounts are so useful because for this we can warm up or try anything that we can learn from before we use our money to trade since its really waste of money if we don't use this and we want to try some strategy so demo is there to save us up to know more about on trading. the sense of responsibility that was lacking on the demo account carried over to the real one. in this case a psychological feeling that is not obtained on a demo account because you feel that if you lose it is not real money. therefore we must be able to distinguish between the functions of a demo account, indeed for strategy practice, but not for trading psychology practice, which we will only get on a real account. because of that many people complain as if they are professionals on a demo account, but are always wrong on a real account |
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if you are comfortable with that strategy then use it to make a profit, everyone has their own beliefs, but everyone has the same goal. I think a 14-day trial is not enough, considering that the market can change the trend direction suddenly, especially if we trade with smaller time frames, of course, greater volatility will be seen. therefore don't hesitate to do experiments in order to get comfortable trading in the future
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Trading is more considered than gambling but gambling is more riskier than trading, having the thought that trading is gambling you are having a wrong thinking. Trading is some how save but not 100% save and it can't be compared otherwise.
However, it is clear that the two are different because in trading, many things need to be prepared, knowledge and skills need to be owned by traders while gambling is just like relying on luck alone, gambling will not make us profitable so it is better to avoid it. luck will not come continuously, therefore in trading we must learn to analyze and control psychology. it's not easy to achieve that, but that's the way to go, learn and gain experience from real trading practices. many people give up on their journey, because trading is not as easy as we imagine. it's different with gambling, where we don't need to analyze and are more inclined to expect luck, if we pay attention to most gamblers there's no success, except for bookies |
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I've seen over one dozen websites believing that BTC will skyrocket in the upcoming years.
The platform I use is Coinbase.
I'm thinking of just buying BTC-USD and just leaving it be.
Any thoughts on this strategy?
Perhaps, you are right. If you are here just to hold long-term, choosing Bitcoin is really the best option to take. But if you are here for trading, it was preferred to use altcoins than Bitcoin because of the behavior of these coins. But have to remind you not to use the exchange (Coinbase) as your storage wallet. You can use this platform of course but must have to transfer your Bitcoin to your controlled wallet especially if you are aiming of holding them for many years. many people have idle money and end up saving it in bitcoin, until it is left for years, it has benefits later we will feel the impact, because many believe that bitcoin is the future, so keeping it in the long term is the right choice, even though there are fluctuations which is high, as the adoption gets bigger then it will also fly again later. but if we keep it in our personal wallet, try to keep the key well, and if you want it for the long term, don't forget to tell our close relatives to know the key too, because no one knows how old he will live |
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In as much as I do not encourage people to leave their funds on Binance, myself I'm a victim. Most times the money I need for fiat is being kept on Binance before I convert to fiat.
Binance is going no where and even if Binance will fail, it is not now. Binance is too global.
We should simply stop this FUD on the largest CEX in cryptocurrency. If anything happens to Binance, it is us that will suffer it and not CZ and it is the market that will plunge into more bear.
It may even prevent the expected halving bull run if it happens. Binance is not limited to only US. Binance is global and US cannot hunt it down.
Binance is currently the largest exchange in the world. it is true that binance is not only about the US, and there are still many outside of that who still faithfully use the services of binance. I think if something bad happens to the US, then it won't become a global problem, and of course if that happens then the market will definitely experience an extraordinary crash, and before that happens I think the binance team will prepare steps to anticipate it, moreover it's not easy to build trust from consumers |
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in doing short-term trading, I think we are more inclined to use technical analysis than fundamental analysis, because we analyze the market every day. so it is not possible to use related fundamental analysis for long term. therefore every trader must be able to analyze chartists to find support and resistance to place transactions. and we certainly have to follow market movements more often. or we can place targets and stop losses and we can leave them.
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^ That is why we are in trading, don't focus only on the profit because trading is not all about profit, it is also to learn knowledge while you are trading. Because by investing in your knowledge, developing effective trading strategies, and staying disciplined, you can increase your chances of success in the trading world. It is very important for trading as a skill that requires continuous learning and adaptation, rather than relying solely on luck or chance as in gambling. So, therefore, trading without knowledge is gambling. I confirm your statement, but it is practiced by many traders. I am sure there are many traders who do not have a good knowledge of how the crypto market works and they only hope to profit from the volatility of its prices. They have learned, but they can't make an analysis so they always expect someone else to tell them which asset to choose. Almost the same as gambling because it relies solely on luck. in analyzing the market, it will not completely end in profit, sometimes we also experience losses, because the price has gone out of our analysis area. therefore we must have the courage to take steps to cut losses, indeed with cut losses we experience losses, but losses that are measurable and within reasonable limits, so we don't experience excessive losses. we must remember that there are still many opportunities after that, so we must patiently wait for opportunities to place trades again, and make profits |
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At the moment, due to the dumping of the Bitcoin price, Chinese coins are also affected by the dump,
but if you want to accumulate some Chinese coins and be patient to hold them, you can achieve high profits when the market is excited again.
There are many Chinese coins which are currently dumped due to Bitcoin, that is CFX, Vite, VET and CKB.
you can't be very sure about their price movement, but fil, vet, neo and cfx are still in the top 100 alts, having fil and vet in the top 50. well, if you have extra funds, you can take a look at these coins but need to be meticulous as you should also look at their current developments in the market. we all know that chinese can easily change their stance and redact whatever they announced in public. also, consider the BTC market as it directly influences the overall market performance. right, China can immediately change their decision, of course this is done to seek their own benefit. I think even though the altcoins mentioned are in the middle, it is a risky thing to invest in the long term, it would be better to choose top altcoins with good fundamentals, so you don't worry about holding them in the long term. but what we salute from China is that they seem to want to dominate the market, not just become ordinary members, so the steps they take sometimes confuse us |
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I see a lot of this guy's posts for the purpose of shilling memes. No one is stopping you from doing anything, but doing it too many times with dirty intentions really pisses me off. Most people know that coin memes are often driven by social media trends, influencers, and online communities, which can create a false sense of excitement and demand. However, once interest dwindles or promoters move on to other projects, the value of these coins can drop rapidly. So for newbies to consider when investing in crypto, you should generally focus on projects with solid fundamentals, real-world use cases, and a strong development team.
pretty much investing in meme coin is just latching onto one meme coin to another at the early stage, there's no future with meme coin in general, but if someone ought to seek some additional profit in their investment, i guess using small capital and just trying out investing in meme coin at early stage, should make sense enough. for speculation lovers, meme coins seem to be the hope of winning the lottery. so do not be surprised if there are still many people who are interested in this coin. which is a problem if beginners who don't know the world of crypto put all their capital in meme coins, of course this will be a deep regret, or even laugh out loud because of their luck. let's hope that those like that soon learn crypto and can arrange their money for meme coins, so that nothing bad happens |
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I think this is a SEC tactic to make people afraid to invest in crypto, besides that it's not only Binance who is having problems with SEC, but Matic, ADA and SOL too, so that makes the market go down quickly (bear market) and what do we expect is only CZ can win against SEC or people are not affected by SEC, so the market price can rise again or even a bullrun occurs (if CZ wins against SEC).
We don't know what the real purpose of SEC to accuse some big projects in crypto industry. After they got Ripple in a trouble, they alleged Binance for 2 main issues (mishandling money & dishonest with regulators). SEC think they are a regulator in crypto industry, they don't know that crypto is a decentralized system. What are the problems with ADA, MATIC, and SOL? If the problem is only about the significant drop in their prices, it is because most altcoins follow Bitcoin price. We must know that BTC is dropping its price to $25k again, it triggers most altcoins to drop again with significant changes. Moreover, we have bad news related to SEC vs Binance now. what I'm thinking about right now is how to add assets in the face of this decline. this could happen as a result of the declining bitcoin market sentiment, or even the SEC which triggers FUD. however it is my happiness to have the opportunity to repurchase. especially on matic, I have been collecting matic for a long time, even though it is currently a floating minus, but I actually intend to collect it, because later I will be able to double my money |
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This is a great deal of opportunity when the price of bitcoin keeps going down, I want you to seized the opportunity to buy and hip. We have no ideas what is currently happening to the market but all hope are not lost, bitcoin will take us for a surprise and I don't want to miss the chance or feel regrets not obtaining any amount of bitcoin. Even as bad as the price is, some people are still making cool money out of it, that's mean we never loss investment when you really understands the value of bitcoin. I know some will kick against my tips but what's your reasons?
Of course the best buying opportunity for us this bear market is around $15,500, the bottom price. For sure majority has taken advantage of that as the price rose tremendously, we have have doubled it when we hit $31,000 a couple of months ago. So I guess that opportunity will not come again, unless there is another black swan event that will push the price again to lowest lows this bear market. However, if we keep on waiting for that, that opportunity might not arrived. So the best way to buy is just to do DCA and slowly stack sats as much as you can, or what you can afford. as for investing in bitcoin, I don't think it's too difficult in terms of analysis. whenever we have money and buy it is the right thing. but indeed by being able to find a good buying area, we will earn more bitcoins. at whatever price we buy the key we have to be patient and release it during the bullish season. this is where a lot of mistakes happen, where a lot of people are impatient and experience psychological attacks, so they take the wrong attitude, namely selling when the bearish season occurs |
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Teaching children on bitcoin is like the latest threads in the forum. It is good to tell our children about bitcoin in their tender ages but destiny is not something you force someone to achieve. Just like the general saying that "You can take a horse to the river but you cannot force it to drink the water". That's, it is good to tell your children about bitcoin but you cannot force him or her to learn bitcoin if it is not in the mind of the child and if that is not the child's calling in life.
Just like another instant again, it is a Ghanaian Play called "Sons and Daughters by Joe De Graft". The father wanted his daughter to study law while the some for medicine but the boy wanted to study Fine and Applied Arts while the girl wanted to study Theatre Arts but the father refused. There was a day the boy's friend drew Ghanaian President and the picture was bought with a very big amounts of money which was about millions and it was broadcasted on National TV and Radio Stations and the father heard about the news and he called his children and advised them to study what they like.
I think that play is a very big lesson to everyone in the contemporary world. So if your children are not interested to learn bitcoin please don't force them. Everyone has their own destiny.
I've tell it everytime that bitcoin is a complicated things for childrena and to be homest for sure they dont really care on it for shre they just know that saving is a good thing and that is what your teaching them it is probably more accurate probably if they are already a teenager its the right age to teach them what is bitcoin, But even children could wonder what really bitcoin is which is a good thing it will encourage them to get involved on the cryptocurrency space soon when they grow up since they might wonder what this bitcoin is. We seen the bitcoin cartoon get popular if children would watched that clips they might have no idea what is bitcoin but its a good start to condition them in the future, to invest, save etc. for children, I think the introduction to bitcoin is enough to teach, considering that we have to introduce it gradually. it is not certain that they will be interested in being in this business, even if they are not interested, at least they will get to know bitcoin later. after all, everyone has their own talents, so they will also determine their own path, so as parents we must be able to direct according to the will of the child. for the introduction of bitcoin, I think it needs to be done early |
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a matter that is often debated between trading and gambling. I think this depends on each individual, with more traders who lose than those who survive, this can be explained logically. underlying the success of trading is psychology, in addition to money management and technical analysis. if we run everything well then we can make a portfolio according to plan, that's where the difference is, where real trading can be planned and targeted, while gambling cannot be planned long term, because it is based on luck alone
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the regret of losing bitcoin and ethereum should not have to happen, considering we only have enough to hold them. but losing to PEPE, shiba, doge, I think we have to realize that this is a meme coin, and it requires a lucky hand, because not everyone can analyze it. especially if we buy it when fomo occurs, even though we are already profitable, many events still hold it because of greed, that is what causes us to lose. many people talk about regret when the coin pump meme happened, most of them don't know when to let go, because they are filled with greed, and put aside the knowledge that at any time a deep crash can occur
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Of course, I dealt with the trading addiction. But trading is a very serious addiction. Just like when people get into gambling it is very difficult to get out of it, so whether you get into futures trading or spot trading, if it becomes your addiction, it will be a little difficult for you to get out. Futures trading in particular is a very addictive platform. When your profits start coming in, your/my state of mind is so good that it is expensive to publish at home. However, it is not difficult to remove yourself from here.
I could say that I've almost fallen for trading addiction but compared to gambling, its risk is different. As long as you're skilled enough and know how to deal with the risks of trading, getting addicted to it will not give worse results. As long as you manage your finances wisely and trade with the confidence of making the right decisions, your addiction could still turn into generating profit. I think trading addiction will only provide negative results if we are using most of our assets with no control and if we are risking everything just to fill our urges. It's fine to aim for higher profit but putting limits is still important. Trading is addictive but we should only take the positive side of it. Trading addiction is much better on gambling addiction on which we know that significant difference in between two on which you are dealing in between a thing that could potentially make you earn and something that could potentially getting wrecked because of such high risk which is on gambling. Investment/trading/business is something that different if we do speak about gambling and it would really be just that common sense on which one would really be worth on investing or putting your money into. Trading addiction might sounds negative but it is actually beneficial as long you dont have that gambler like mind or action kind of approach towards it on which you would really be trading it up and continously learning up on the things that you've been dealing with which it would really be making you a better trader as you do go ahead. Doesnt need to cope up as long you arent really that imposing such risks about your finances or financial in short. addicted to trading will make us even more interested in continuing to trade, but the record is that we must be able to trade in a healthy manner, so that we are really trading, lest we trade and in the end run into gambling. there are many incidents like that, where because of losing and we want to return the defeat and what happens is that we trade unhealthy and rely more on luck without any basis for making transactions, in the end we get regret, things like this happen the most, so it's no wonder that most traders experience defeat |
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_ Learn to master your emotions.
To be honest, there's nothing wrong with borrowing money to start trading because if your trading strategy works, you'll be profitable as long as you stick to it. However, because you are borrowing and the interest rate is progressively increasing, it could influence the way you trade. That is why it is not recommended to trade if your capital is not your extra income since it will drive you to trade emotionally and make it difficult for you to stick to your trading plan, especially if you are on a losing streak, which has a larger possibility of draining your capital. there is nothing wrong with borrowing money and using it for trading, but this will create multiple psychological pressures. Logically, of course, we are required to be able to repay the loan, so we must make a profit. as long as we can anticipate our psychology it might not be a problem, but if we are still in the process of learning and don't have good trading knowledge, then this will be dangerous to our capital, losses can occur, and afterwards it will be more difficult for recovery |
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spending to meet basic needs is a very important thing to pay attention to and if it has been fulfilled then saving is something that must be done regardless of how much income you get per month and if expenses are higher or just barely with your income then you can't be silent, you have to get out of it and look for additional income to be able to save.
saving is very important for future life and if someone knows the benefits of saving then he will do anything to be able to fulfill it, the important thing is there is a desire to save then it won't be difficult.
We have to try to apply for new jobs to earn extra income when we are still productive for any job, we have to take advantage of our young age to work hard for savings needs because when we are old we are no longer able to work and have to rest a lot to maintain our health. Many people do not prepare themselves for old age so that financial management is not organized because they have to work hard at old age. The prevailing pattern of society is that middle income people save more. And for exactly the opposite reason, low and high income people save relatively less. High income people have high consumption and investment rates, so savings are low, and low income people face a challenge in daily living. But you are right, no one can work in old age they need rest. That is why it is important to save something for the future at a young age which will provide security in old age. You need to find those ways to achieve your goals it is important to seek for more possible earning generating side jobs, though from how you percept the possibility middle-income people are also good in balancing their expenses, with good control of their spending they can manage to save more compared with low and high-income people, using that same argument, With high income, the maintenance of their expenses is most of the time level to how they earned and same deal with low income. They are stuck with what they've got and it will just repeat the cycle of life for them. this is like a mindset that has been instilled for generations, therefore even though we have low income, we also have to suppress our needs so that we can set aside money to invest, moreover investing in bitcoin is very easy with whatever money we have we can invest. that way we will get a greater return and of course after that we can expand our money so that we can enter the middle class, and the rest we will become rich. but we have to go through the struggle even though we are looking for additional income from other work. especially if we are still in our productive age, so we have to try to change our destiny |
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