We should trust our experience in trading even though the situations got worst, and I don't think panic selling is the solution. What will happen to your future profit if you sell it all due to you're panicked? That's why we should stay stronger and keep the faith burning so we could stand against negative speculators.
Most of those that are panic selling do not really have any trading experience that is why they are making those mistaken moves, so what a person with no trading experience needs to do in that case is to reevaluate his strategy, if you bought serious coins that have been in the market for a long time you have nothing to fear, the only thing that you need to do is to stop looking at the markets and do something else eventually the market will recover and you will get profits, but if you invested in some dubious coins then the possibility that you panic is even greater so you need to analyze your coins once again and see if they're worth holding for the long term. |
|
|
|
When will we hit a critical point at which there's just too many lost bitcoins due to someone loosing their wallets, dying or corrupted hard drives and etc? At some point this is bound to happen right?
I know that for the time being, low circulating supply means that the coin will increase in value but how low can it get before it starts to give diminishing returns and actually inflict damage to the system? What would happen to crypto in general if all of the coins and altcoins will suffer the same ending?
There is nothing to be done and in my opinion nothing should be done, if many bitcoins are lost that just means that the rest of the coins become more valuable, it is as simple as that and in fact that was what Satoshi himself proposed, besides those coins are not really lost forever, given enough time it is possible for a different person to generate the same private key of those lost coins, that is very unlikely, the possibilities of that happening are astronomical but it could happen and so those coins will go back to the circulating supply. |
|
|
|
Dude, I’m a little bit confused with this lol. What does he mean that a currency with volatility can’t be used as a currency by any country? Dude WTF! 😏😆 Is there any currency in this world that is not volatile? Every currency in the world are volatile. Take for example dollar to euro can’t maintain the same price forever, they will always fluctuate, either that dollar goes up against euro or it goes down. Such fluctuation is being caused by how much that comes in and out of the country at the moment. I don’t know if this man you mentioned is still a novice or what?
This is correct, every single currency around the world moves in price, it is true that the currencies that the governments are using do not move as much as bitcoin but this cannot be avoided they have complete control of the emission of their currency while this is not true for bitcoin because we do not have direct control about how much bitcoin is created every day and also those currencies have the same problem as dogecoin, dogecoin has not a limit to the amount of coins that are going to be created and the same is true for fiat currencies and that more or less stabilizes the price. |
|
|
|
The main reason for the problems in trading is trading, why do you think that other people will give you their money?
Not really, trading is a game in which you are trying to outsmart your opponent in that way trading is not that much different from games like chess, the difference is that you do not see your opponents but everyone is doing their maneuvers trying to earn money and you must do the same, no one is giving you money for free you are taking it away from them with your superior skill, if you have that, and if you don't then you are the one that loses the money, this is why knowledge and experience are critical in trading something that many people are lacking. |
|
|
|
I only focus on 2 coins and that is ethereum and bitcoins, now a days investing on altcoins is not so easy because it was very hard to determine if the price will grow in the future or not so we should invest on a coin that has really a potential to grow in the future.
Focusing only in ethereum and in bitcoin will give you peace of mind however is not going to give to you the best profits that you could get out of this market, this is why many people prefer to invest in other altcoins as well so the performance of their portfolios gets improved by investing in new projects with a lot of potential but as you said detecting such projects can be very difficult because even a good project can fail if it doesn't have the support of the community, something that happens more often than people would like to recognize. |
|
|
|
Why is Bitcoin tied to Fiat? Why is Bitcoin value moving like a stock? satoshi said the value will be derived by the limit of total coins. But we are seeing the opposite. Why dont we mathematically calculate the value of bitcoin according to the amount of bitcoin mined?
Like
Agreed Value * Bitcoins Mined = New Value
0.0010 * 1 = 0.0010
0.0010 * 2 = 0.0020
Because everything is tied to fiat, did you really expect that bitcoin out of nowhere will not be tied to fiat? Because that is not the way it works even human labor and time is measured in fiat, the only way that changes is if bitcoin is able to replace the current fiat system something very unlikely by the way, so for the moment the only thing that you can do is to accept that fact and either take advantage of it or wait until the date that is no longer the case, and since we have no idea when that day is going to come people have decided to try to take advantage of it and that is why they speculate with the price. |
|
|
|
We have seen Bitcoin and people's economic changes in the country. Do you know how Bitcoin is changing the economy? Do people believe that economic changes are possible by Bitcoin? And what will be the impact of Bitcoin economics in the future?
Bitcoin is already bringing some changes to the way things used to work, for example services like Western Union can no longer compete with bitcoin, the only reason Western Union still exist is because you cannot use your bitcoin directly to buy whatever you want, but once that changes I'm pretty sure that the Western union business will drop like a rock, I also think that bitcoin will have the effect that banks will have to become a lot more efficient and they will have to drop their fees if they want to compete with bitcoin and this is a good thing. |
|
|
|
Why do people always think that inflation is a bad thing? Remember Inflation can also be translated to demand, to make you understand deflation is when the prices of goods and services are getting cheaper as the demand is lower than the supply does giving your dollar or any fiat currency more buying power. Injecting more money into the economy does not help solve inflation as well they can also see this as an oversupply of money which can also trigger a greater inflation. Now to answer your question any investment (stocks, real estate, cryptocurrecies) is a protection to inflation as long as your returns are greater than the inflation your buying power will still be equal or even greater than what it was used to before.
People think that inflation is a bad thing because historically that has been the case, a limited level of inflation is good for the economy because it is stimulates the economy and people are forced to not store their money for an indefinite amount of time, but what we see is that governments always abuse the power of printing currency, I really do not think that I need to give too many examples because they are everywhere, in fact the US dollar has been printed massively and the only reason it's not going down dramatically compared to other currencies is because other currencies have been printed in an even more massive way. |
|
|
|
Two days greenery then suddenly 4 days red. I think this happened due to money makers. Most are coming to money making from fluctuation. Because of this fud or any bad news there , these people get panic and selling their portfolios so the whole market crash.
But people like us , invest to the technology. What ever the thing has happen , we think that this has good future. so we keep our coins for long time.
This is my opinion. Why more red days and few green days
That is one reason why we're having more bad days than good days, but I do not really think that is the whole reason, the most important reason is simply that there are no positive news about bitcoin, in the previous year when the price went up that rapidly we got a lot of good news in succession and that is why people were very positive about the future of bitcoin but now those feelings are gone and it was impossible to justify the price in this is why the price has been going down for the better part of this year, but do not worry at some point we are going to get good news again and the price will go up as a result. |
|
|
|
Personally I don't think that Bitcoin can reach 15K until the end of this year. Because there is no any positive new and new incoming money. I think we will see only flat in this year.
I agree with this, I do not see why so many people give very positive predictions about the price of bitcoin when I do not see any significant reason why the price is going to go up so much, if people take the time to look at the previous bull run they will see that the bull run did not started just because, it started because the developers were able to finally activate segwit which is the scaling solution that makes the most sense and that it has the overwhelming support of the majority of the community, so it makes sense that the price went up so much but now we have nothing like that. |
|
|
|
The used of cryptocurrencies for criminal activities are getting high due to it's anonymity, but we can't make a way to stop them considering that they are also a big users for these. In a way that crypto will be regulated by the government and wiping out it's anonymity of the person involved, it may helps to avoid from using it for such activities.
In fact I think it is the opposite, it is true that of the beginning of the life of bitcoin a big amount of the transactions were because of criminal activities, but as bitcoin has gotten more popular most transactions are now legal, most people are just buying and selling bitcoin in exchanges in order to try to make money legally, it is obvious that there is going to be criminal activities in bitcoin there is not currency that is completely clean and that has no criminals using that currency for their benefit, just look at the US dollar, the currency of choice of criminals. |
|
|
|
More and more Decentralized Exchanges are popping up, but are they really what they are hyped up to be? https://www.youtube.com/watch?v=d-xA7p9NbdII think the concept is great, but at the moment they are really hard to use because of constant downtimes especially on IDEX and EtherDelta. What are your thoughts on this? Centralized exchanges are more convenient and easy to use than their decentralized counter parts, but the big problem of centralized exchanges is that governments are concentrating in them to try to regulate the market of cryptocurrencies, we must remember that every single point of centralization is going to be a point of failure that governments are going to try to exploit so not only need we need a decentralized currency like bitcoin we also need decentralized exchanges so we can convert our coins without being subject to government surveillance. |
|
|
|
Obviously if this happens, a lot of new millionaires, billionaires and maybe even trillionaires will be born. Do you think this would have a large impact on society? Would this cause nocoiners to become the new low class? Would prices of every day goods rise? Would Fiat currency even be worth anything? Or would we just have a lot of new money in an otherwise unchanged society?
(Hopefully) obviously, this post is purely hypothetical and in reference to John McAfee's prediction.
In my opinion there are only two ways in which this could happen, in the first the scenario we will be in the biggest bubble of all time where money from many different industries is diverted to bitcoin and other cryptocurrencies, at that point you should expect a big crash that will probably destroy the economy of the world, the second scenario is that the economy first enters in a crisis, then governments begin to print currency as fast as they can and then bitcoin begins to gain value very rapidly since now there is more money chasing after it, in this case the economy also crashes but now bitcoin is not the cause. |
|
|
|
Gone are the days most people did not invest the money that they were earning when the had the energy to work and make money so they later retire poor.Now everybody has the willingness to do investments but there are still a lot of problems.As most do not know where to put their money into.Other do not know the right time to invest and others just hope their investment yields better results.
Those days are not gone at all, most people do not invest anything for their retirement and if they do it, they do it in accounts that are controlled by governments and there is no guarantee that they're going to pay in the future or that they are going to pay for a long as you need, this means that people should put their money in investment vehicles that are independent from government control and very few people do that only those that do that I'm invest in gold, silver or bitcoins have any control about their future and the standards of living they are going to have when they retire. |
|
|
|
Crypto are becoming old and getting known worldwide but only few people are just getting interest on this cause of it's high risk and there is no support from all countries. It means that, if the government will lay their hand to support crypto, it surely people have gain courage to step inside and also establishment will start accepting cryptocurrencies. But it is not realize by the government also due to conflict of interest between their sides and crypto itself.
But why any government will support bitcoin? It is true that if we got such a support the adoption of cryptocurrencies will be a lot faster but governments have an incentive to not support cryptocurrencies, you must understand that cryptocurrencies are competition to the monopoly that the state has over printing currencies, that is a monopoly that they gained by forbidding back in the day that private businesses coined their own form of money from gold, and they were very successful because gold is very easy to control, but now that bitcoin has emerged and its impossible to control it or to destroy it, they are afraid that they're going to lose their monopoly. |
|
|
|
I dont think btcs can fulfill the double demand. One side is asking it to be used as currency and other as stock. How can it be stable then?
All currencies around the world are being used as a currency and as a way to speculate with them, when those currencies were backed by gold there was no point in speculate with them because all the currencies were backed by a certain amount of gold, but now that no longer is the case and every single currency fluctuates depending on other currencies then you can speculate with them and that's how the forex market was born, so what you're saying doesn't make a lot of sense we know the dollar is just a currency and it is used as a way to speculate with other currencies and yet is used all over the world, if bitcoin is widely adopted its volatility will go down and so we will be able to use it as both. |
|
|
|
one thing you should know and prepare is mentally prepared to accept losses, because that is the worst thing in the world of investment, although the risk of losing capital will not be 100% as in foreign exchange trading, in cryptocurrency investment is not as severe as forex in the eyes of the amount the cryptocurrency we bought earlier will only experience exchange rate changes along with price movements,
Being mentally prepared to accept your losses is just a basic strategy that is not going to reduce your losses that is just going to make it less painful but if the losses are big then it doesn't matter what kind of preparation you take you are going to feel it, the best way to manage your risk is to invest for the long term and to only invest in good and established coins that way your risk is going to drop significantly at that point the only risk of losing your money will be that you sell or that you panic but if you really take the time to understand and read more about cryptocurrencies the chances of that occurring will be very low. |
|
|
|
Most people prefer to invest in gold over crypto, because gold price is more stable. Investing in crypto is very risky, because the price is very volatile. If everyone uses crypto in everyday life, I believe the price of crypto can be stable. If everyone knows the advantages of crypto, I think many people will invest in crypto. If we invest in crypto for a long time, then the profits are huge than investing in gold. Not to mention the technology owned by crypto, for those who know for sure they will be interested in investing in crypto.
It is true that most people prefer to invest in gold than to invest in cryptocurrencies, but I really think that is just because gold has been around for so long, but that is going to change especially when people begin to realize that the profits that they can get with cryptocurrencies are way higher than anything that they could get with gold, in my opinion you should only put your money in gold if you are already satisfied with the size of your wealth, but if that is not the case then it is way better to invest in cryptocurrencies since the potential to grow your investment in a fast way is incredible. |
|
|
|
I have notice that some of us here in the forum have this kind of bitterness feeling in banking sectors. They always compare banks and cryptocurrency and to the extent that they want to eradicate banks and to be replace by crypto. Are you sick and tired of reading this kind of post?
The fact is that bitcoin is not here to replace banks but it will have a change in the entire economic structure in the future, we need the support of banks to convert bitcoin to local currency and wise versa, if the banking sector cuts off their ties with exchanges it will be difficult for world wide adoption without a doubt, we need both to co exist to have a better solution for everyone. People are bitter because they see banks are rigging the rules in their favor, if the system was fair and the banks were powerful people will not complain since they will know they obtained that power in a fair way, but that is not the case we know banks are in the bed with governments, and we know governments pass laws in favor of those that are already very powerful while the rest of the people are affected by those decisions, consequently people feel they cannot advance in the economic ladder because of it. |
|
|
|
I think if we have a good skill, we can have many coins in our portfolio because I have a friend which have more than 20 coins in his balance and he still buying the coins especially if the price is down like in a few months ago until now. and when I ask him, did he confuse to analyze each coin, he said no, he is not confused and it only needs a short time to analyze and determine if he should sell now or later. I think we can increase our portfolio in every time but of course, we should know how much coins that we can handle so we don't have to confuse.
The level of skill and the amount of time that you are willing to put into monitoring your coins is very important because having more than 20 coins can be very confusing especially if you are a newbie, because not only you need to watch the current price, you need to make an analysis about where the trend is going and even more importantly you need to look at the current developments of each coin and see if the their developers are making any kind of progress if they are about to make one big progress it will be a good idea to buy more of that coin waiting for a price increase, but for a person that does not have a lot of skill or time 20 coins are more is just too much. |
|
|
|
|
Show Posts
