I want to assume that there are few people, who make several profits from trading altcoins, but sell their profit to bitcoin, and then over time while holding bitcoin, it dumps and their profits dips alongside bitcoin.
Why not do it this way ?
Since you trade mostly in altcoins, as soon as your make your profits, sell them to stable coins or fiats, close that trade chapter.
If you are passionate about hodling bitcoin, always convert to usdt or other stable coins and be patient for a fair entry point. Because the market isn't running away
What do you think everyone ? is there a better pattern that can be practiced?
I am open to more suggestions.
There are reasons why traders prefer Bitcoin as their main denominator when trading and calculating their profit: 1. They believe the price of Bitcoin would go up against so why convert it to Dollar 2. Most Altcoins do not have liquidity in their USDT pairs. 3. The exchange fees of moving it to and fro from BTC to USDT erode the trades profit so prefer to keep it in BTC |
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Good that he mentioned Bitcoin but I am tired of people looking for celebrity or influencer's endorsement of Bitcoin. I do not need anyone to tell me this is what Bitcoin is, I came across it in 2014 and took me 2 to 3 months of readings and research into it to be convinced this is real and thank God I made that decision. If the guy mentioned Ripple or even Bitcoinnet some people would go gaga and go and buy it because someone tweet or recommend it. Remember it is your money that is on the line.
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The issue I think this project is going to have are:
1. Lack of fund: where are they going to get the money they are going to use to sustain the development of the platform
2. Brand name: The name Steem will be difficult to surpass and it is the first go to platform
3. Community: How loyal and strong this community is, we all saw what happens to ETC after the fork, no one is using it, I can't name any project on ETC
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I do not understand why people can't see through project like this, where are the Putin coin, where are the Trump coin and so on, they do not end well the only reason I can see why people put their money in such a useless project is greed a
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There was a time when this topic of how Bitcoin contribute to climate change was hot, but I just feel it is a shilly argument because climate change is an inevitable even we can only try to delay it. We have seen how the cloud suddenly become clear because of Corona virus. Where are all the Climate change activist in this period
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2020 definitely has the worst crypto April fools jokes. It's like 10am and I'm already sick of them.
I do agree with you, the worst April fool jokes all over the internet. I do not understand why this is so this year, maybe the Corona virus has taken fun out of the space, people struggle to light this day up unlike previous year that you would likely be caught unaware |
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I do know for a fact Bitcoin would reach All time high again and even surpass it, but when this is going to happen is what I do not know. If you are a good trader you would know that the 13k, 9k 7k and 6k price floor are all Fibonacci retracement of the previous highs, I know some people do not believe in it
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I do not understand why people are falling victim of these ponzi scheme, common sense alone should tell you that there is no way someone can give you $1000 per day, even the Corona package in US is not per day. It can only be greed that is driving these victims of these Ponzi
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I think the solution to this is new internet, we all know that Data is the new oil and there is no way we can prevent government from wanting to control every aspect of our lives. 'People need to start accepting this as a norm because we are the one that sold ourselves cheap. When you use Google, Facebook and all these services free of charge, forgetting that there is no free food anyway, you pay with you data
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Binance acquiring Coinmarketcap is the end of decentralization? I think you are over reacting. First of all, Coinmarketcap is just one of the many websites for tracking prices, volumes, and other crypto-related things. If you don't like the change in ownership, switch to other data aggregators like Coingecko, Bitcoinaverage, Cryptocompare, Nomics, and many others. Coinmarketcap is the most visited and most popular right now but it doesn't mean they are the most accurate and most trusted by serious traders.
I think you underestimate the potential of Coinmarketcap.com, this is one of the most visited websites in the space and the most go to space for crypto prices, I believe Binance did their home work well before approaching them with an offer, this is going to draw alot of new users to their exchange, just analyse the amount of referers CMC has collected from users all this while. About decentralization, I doubt this would move a needle, you can't blame a business for trying to integrate his/her business horizontally. |
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There are some anticipated movement in price of BTC that some traders are anticipating. I have read some prediction some people predicting the price would o up based on OBV and some are saying the price would go down. If this is dumped on the market depending on the exchange it may impart Bitcoin price
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Initially I do not believe in conspiracies, but second thought on this issue made me to ask why is it that Russia is not affected like other countries we all know that both China and Russia always vote together on issues because they are thick as thief.
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Quality data out of China has always being an issue even with their GDP because of most the information there is centrally controlled. I don't want to argue about the number of mortality because those that are gone are gone, what we need now is a permanent cure for the drug, there are a lot of politics going on now. I get the big corporation wants to profit from the pandemics, if indeed the Choroquine drug works then this is not fear to the masses. I have read and seen videos of those that are treated with Cloroquine and the other drug and they get well.
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I read the Bitmex research on who is funding Bitcoin, it is a very good thing for the space especially since the Bcash fork which create a huge divide in the space. I was just surprise that we don't have more miners supporting development of Bitcoin, I can only name Bitmain and Blockstream, this is not good, this just shows they are into the game for the money only
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This new card business is just a way these exchange are trying to integrate their business vertically, some has said we are likely going to see some of these big exchanges obtain banking licence in future, maybe when the price of Bitcoin hit $100k.
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People have been programmed from childhood to see government has the Alpha and Omega, and the trust in the government would continue. I don't see any problem investing in government Bonds and co because you are almost guaranteed your investments, the only positive thing investing in Bitcoin is its deflationary properties and this would continue to help drive up the price with time. People just need to wait and see the crazy pump in price in 2021/2022 when all these Airdrops money are looking for here to go
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I don't know why CoinBase need to wait till now to implement Batching for their transaction, it just shows how non customer friendly their exchange is, I think is more of arrogance IMO, Binance US is going to give them a fight for their money and this struggle for dominance is going to be interesting.
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With yesterday correction, I would advice people not raise their hope of that this short time recovery would be sustainable, $6200 level is an area of interest for me, those that are still on the sideline should still wait because the money that need to come to the space are not going to come anytime soon, over $3 million people filed for unemployment in America and just look at the ripple effect of this in coming weeks
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For me, in this current market condition, it is goong to be exceedingly difficult to raise more or sell any idea of raising money to people. I have said we are going to be in hibernation period in terms of raising money from the space and when people tend to have recovered from the recent loss then their appetite to invest/gamble would then increase, what are you going to tell someone that is $10k investment is now less then $50
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More than half of the exchanges in the space are playing scam games, I do not know why people are not calling them out, I like Yobit exchange being that everyone knows where they stand, a pump and dump exchange but some of these exchange pretending to be real is baffling
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