Debt come into being when all income available to the person cannot pay all bills instantly. You take records of all your debts and their interests. Take a decision to pay off your debts and be free from debt burden. Try and meet your creditors to accept whatever amount you can afford. Pay your debts first from whatever income you received. You need to expand your means of income. Taking advantage of the technologically driven economy to engage bitcoin and other cryptocurrencies to completing your income.
It is also really important to prioritize and pay the debt that has the biggest interest rates and if possible try to consolidate everything with the lowest interest rates, a way to do that is to get a loan on your house since those are the loans with lowest interest rates and then pay debt like credit cards that have the biggest interest rates, you still have your debt but now the interest rates are more manageable and if you are consistent you will eventually eliminate that debt. |
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So many crypto currencies are coming UP . They are much cheaper than Bitcoin for now. It is so hard to decide which to buy . Some are in good promos, to buy or invest to it while it is cheaper and sell when the price Will getting high. Is it a good idea to buy while we can not afford yet Bitcoin?
First of all you do not have to buy a whole bitcoin to invest in it you can buy as much as you can, now about your question, investing in altcoins is a really good idea right now, they are very cheap compared to a few months ago, just make sure to buy quality altcoins since it is very easy to buy an altcoin just to find a few months later you bought a coin that is nothing more than a scam and that you have lost not only your money but your time as well. |
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At a time where I see currencies moving away from cash to digital I think the reason is partly so that governments can control the flow of their currency more particularly for laundering. They can possibly gain more taxation from a cashless currency because cash cannot be fully traced. If i sell my car for cash to another individual the government dont get any revenue from that because it is not traceable.
So in a governments aim to control our money it will leave a big opening for bitcoin and other decentralised crypto to exist along with fiat and will allow people to "trade" anonymously with each other over a completely independent infrastructure.
The war on cash has been ongoing for sometime and you are right governments want to eliminate cash with the excuse of eliminating drug transactions that are made on cash but their real goal is to get tax evaders and to have a greater degree of control over the economy, and they are going to try to do the same with bitcoin with all of their regulations but they do not understand this is never going to work because unlike cash they have no control of bitcoin at all. |
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I know that not all the people out there had gain in bitcoin investment and some of them are losing their money and made a wrong decision which is to sell their bitcoin in low price. So their money was being compromised and that is unfortunate event for them to happen. However, i know that there are also smart people out there who are patiently waiting and now gaining in their loss since they had already the confidence on facing the challenges on. As we all know that all investment has its own risk and bitcoin is no exception for that. Somehow these smart people had already recovering their loss. I just want to figure how they manage to recover it from the fall down.
There is not a recipe for how to recover your losses since everyone will have heir own strategy to do it, but the first step is to try to recognize what went wrong, did you made a bad investment and the coin in which you put your money was really bad, then you need to improve your skills to determine if an ico can be successful, if your mistake had to do with your reading of the charts when you were trading then you need to improve your skills there by reading more books and then you need to make a fair assessment and evaluate if you improved. |
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I have been interested into economy, stock trading and such. And have begun watching series movies and reading more about it.
I learned what CDOs where, and how they worked. But now the institutions/banks are selling/buying bespoke tranche opportunities, basically same as CDOs just another name.
The dollar is up by a lot, and the stock market has tested the 200 MA 3 times already. Interest rates are near 0% and loan rates are going up faster and faster each year.
Every country I have friends in, are telling me that the inflation is rising, interest rates are going going down and you're basically losing money each year.
What I think is interesting, is that the loan rates were pretty low (close to 0) for 1-2 years and it started to rise.
I think with the rise of Crypto, it's the safe heaven for us, the normal people. I think communities, countries, specific groups of people will make their own currency (and also money) out of thin air, and this is how our societies will function soon. But that doesn't necessarily mean that cash will go away, I think people are attached to cash a lot and it's a different feeling when you have cash.
What do you guys think? All thots are appreciated!
The scenario you are describing is happening all over the world, we are in the final stages of the current economic system, all the economic variables are at the extreme and they have no room to maneuver when the next crisis happens governments are going to lack the tools to stop the crisis and the only tool left will be the printing machine and when that happens hyperinflation will happen and the only safe havens will be precious metal and cryptocurrencies like bitcoin. |
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The time will come that the mining setups might cost way more than it should. By then, it is possible that the return of investment would be lower than what people expected to be. If this happens, it is possible that people would stop investing in cryptocurrency as resources may be limited and as mentioned, the return of investment would be lower.
It is true that in the future mining could become a problem as the mining reward gets lower and the lighting network is activated but at the same time each time the halving comes there is an increase in price since the supply of coins is decreased and this is felt by the market a few months later, we will have to see if this keeps happening but if that is the case then we have nothing to worry about since that will mean that the mined coins will keep on being enough to sustain the miners at least for the next few years. |
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I had invested one ICO previously, it failed although I didn't contribute a huge amount on it. A news yesterday made analysis on blockchain ICO projects, mentioning 92% of these ICO projects are failed.. Should I stop investing the others or any really potential ICO suggest?
The real question is why you invested in a coin without knowing this information, the fact that most icos fail has been public knowledge for a very long time and those that keep investing do it despite all of this, so now you need to decide if you are comfortable taking that kind of risk if that is the case then you can keep investing in icos, just make sure to do your due diligence, but if that is not the case then it could be a better idea to only invest in coins that are already established. |
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That’s all what the mainstream media can do, try. No amount of negative articles can stop the bitcoin juggernaut. Cryptocurrency will become mainstream despite the criticisms.
They are trying to do that but while that is not going to be effective against us since we believe in bitcoin completely at the same time I really do think that their FUD campaign has been able to slow down bitcoin somehow since the average person only gets his information from the TV and some internet sites and if in those places they say bitcoin is bad they are going to believe it, but as reality begins to surface about the frail economic system then more people will adopt bitcoin despite this. |
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Even if you buy bitcoin, your psychology in some situations will still fluctuate vigorously and panic because you have a clear understanding of bitcoin, you have a belief in it, you know everything will stabilize again even when the bitcoin goes down. But also because you have this mood, when bitcoin constantly goes down and goes down, it does not recover like what you imagine, your psychology will be more annoying than ever, hope too much but more despair, boredom will be born, panic and sell is what you will do. So I can only say that people can trust experience but not panic, that is impossible
It is obvious some people will panic even when they are holding bitcoin, in fact we saw this in the recent crash, however the mechanics are the same, those that sold in panic did it because they bought bitcoin for the FOMO without really understanding what bitcoin is about so when they saw the price going down when some whales began to cash out they panicked and now they have learned a lesson that they will never forget, never invest in something you do not understand. |
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No one can predict the price of bitcoin whether it will go high or low. Any time anything can be happened. Tomorrow itself its starts to increase or it will decrease. But according to coinmarketcap this ups and downs arw normally happens in every year. So by the end of this year surely the market will boom up again. And it will break the last year price and create new record in bitcoin history. So lets hope for the best.
While predicting what it is going to be price in the next second is impossible the longest the term you want to predict the more certain we can be about the direction the market is going to take even if we cannot be sure of the magnitude of that movement, for example I think it is very easy to predict that in ten years the price of bitcoin will be way higher than now, what we do not know is how much higher it will go but that is fine by me since I have no rush to sell my bitcoin. |
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Well, reading the above books will guide beginner in the crypto currency trading. Although the bottom line is mostly to learn the technical and fundamental analysis because it is the only way you can succeed in trading crypto currency except if you want to gamble with your money.
There are many people that take the time to learn fundamental and technical analysis but they never master something even more important, themselves. What it is the point of learning all of that when even if you know what you should do to obtain profits you end up doing the opposite? There are many people like it that know they should not sell their coins and yet they do it because they lack the strength of character to keep holding their coins no matter what. |
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I was just so curios since i am new also with cryptocurrency and i wonder as i read too many threads about getting good rewards from bounty campaigns like signature campaigns that receive BTC weekly or monthly and as i checked bitcoin market price today relatively so expensive. Many are great these are with the accordance basing on what i have read. Well maybe those people are fraud as i had began to join this system i dont feel there is great in it like getting a good reward instead i feel that this is just like a work that you need to perform in order for you to gain. Is there any fast and easy money here in cryptocurrency?
And what did you expect? Did you thought that you were going to get in this market and everyone will give you money, that is not the way it works, there are many opportunities to make money in this market but you need to get out there and be ready to work very hard for it, everyone that became rich coming from the middle class or from poverty did it by working hard and by having good ideas, if you are not willing to do that then you are going to fail not only in this market but in all markets. |
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While the op is right he needs to understand that the average investor of bitcoin does not want to hold for the long term that is only something that whales and smart investors do, everyone else is chasing yesterdays profits and want to invest in a coin that skyrockets and become rich that way, but if you have a decent amount of capital and invest it in bitcoin you will get profits in the long term and if you hold long enough your profits will be out of this world.
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The stupidity of the human can really affect the movement of the market because it is their emotion and the emotion really affects the demand where demand affects the overall movement of the market whether it is going up or going down because it all depends on the emotion and how they think for the possible future of the market.
The emotions and attitudes of people can really affect the market to go up and down, we saw this in December when the price skyrocketed in an incredible way, people were intoxicated with the feeling that this time things will be different and that the price of bitcoin will keep growing but as we saw that was not the case and then we saw the opposite, people began having very negative thoughts about bitcoin and this is what pushed the price to very low levels. |
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Sudden price decrease keeps happening these past few days and the same scenario happens last year before the hard fork in August.
I feel something will happen few months for now, and I think a great pump which will mark another history will have to explode soon.
I want to be positive on this and keep my investment growing. How bout you guys?
No, it is not as simple, you are expecting a huge growth out of bitcoin and while you can believe whatever you want, in your own post you are giving a hint to the reason of why that growth happen in the first place, the reason the price went up was the activation of segwit, for years there has been a discussion about how to scale the network and the developers were able to finally get the miners to accept segwit, but unless the LN is fully functional in this year I do not see another pump like that in the horizon. |
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The advantage of bitcoin is that it is a decentralized currency that can not be traced. Investing in bitkoin or other crypto currencies, you have all the chances in a short time to get rich several times. But on the other hand it is possible that you may incur losses.
You are mistaken bitcoin is very easy to trace because all the information is there for you to see in the blockchain what it can be difficult is to link those transactions with a name in the real world, that can be difficult especially if people begin to use mixers or decide to exchange their bitcoin for a coin that offers anonymity like monero, do not make the mistake of thinking that bitcoin is anonymous because it is not, also we all know bitcoin is an investment and like any investment it can produce profits but it can also produce losses. |
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Don't worry if bitcoin's market price will fall down or drop even more. First, bitcoin is a very volatile cryptocurrency based on the demand of the people. It will drop its market value today but it will surely climb back again anytime of the day unexpectedly too. So that's what i am doing with the my little amount of bitcoin because i am keeping it for a long term hold.
I know people are very emotional when it comes to matters related to money but people need to overcome their fears of losing money, if you invest right now the chances of losing money over the long term are very low, there is almost not an scenario in which bitcoin does not raise in value in the future, so stop thinking in the short term and begin to think about the long term once you do that your worries about the short term variations of the price will go away. |
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Basically there is no exact date that the bull market will return. But predictions that it will be back is real with no exact timeline. So we have to wait for it to come and hold as much as we can.
Correct, the only thing we know for sure is that at some point in the future the bull market is going to return since the adoption of bitcoin keeps growing around the world, what we do not know is when it is going to happen, it could happen tomorrow or it could happen in 5 years, which is one of the reasons one of the most common strategies in the forum is to hold your coins for the long term because if you do that you will be able to ride a few bull markets and get incredible profits with little to no effort. |
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I think you need to change your daily routine in terms of budgeting your salary. First try to minimize your expenses, if it is not important don't spend too much, don't always eat in restaurants, if you could cook for your self much better, try to add more percentage in your savings. After setting those things try to check if you save more than expenses. If the results is positive then continue until you settle all your debt. I hope this could help others to resolve their problems.
That is good advice but do you know why people do not do it? Because it is hard, people of today are simply to used to get everything on demand and without any effort, being a disciplined person is really difficult for them and then when they see something they want they cannot wait for it and save money as they should until they got enough cash in hand to buy it, they pay it with credit, then things get out of control and spend more money until they find themselves buried under a mountain of debt. |
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Comparing the mindset of the first bitcoin transaction for which 10,000btc was used to buy 2 pieces of pizzas could tell you what the value of bitcoin should be. But today that transaction can not be even imagined, because it will be outrageous. Therefore I believe that bitcoin has been priced over it's original anticipated value. Rather than believe prices will go up, I see prices constantly reflecting the reality, which is downward.
I disagree, satoshi himself said that in the future there will be a large volume or no volume, meaning bitcoin will have a high price or have a value of zero, so satoshi anticipated a huge volume and consequently a huge price for bitcoin as the adoption of bitcoin grew faster than the supply which is a recipe for a price increase, the current price of bitcoin does not reflect its reality and an even lower price will make that distortion even larger. |
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