one interesting thing that i have noticed about those who speculate a rise of bitcoin because of ETF and are seemingly so excited about it is that they are all saying it out of emotions not out of speculation. in other words majority of them want the price rise and since it doesn't, they think ETF is the solution for that so they ignore everything else and only focus on the possible positive side of it alone.
Such is the same with near every development. People's view of what will happen is easily swayed by what they wish to happen. That being said, I do believe ETFs will be a positive thing, they're just one more piece of the puzzle. Manipulation happens anyway and the whales and financial industries will get their hands on bitcoin if they want to. We may as well allow bitcoin to reach a greater audience and exposure in the process. |
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Crypto is not designed to be controlled by a government but equally it must be respectful of laws and regulations so this seems to be the best middle ground. It's also good that the industry will be regulated by itself because that's where the real expertise and understanding lies. If it was put to the government they would struggle because of how new a technology and asset class crypto is.
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I have come across this story before, to the extent of knowing the name was from an Italian guy but I didn't know much more. I do wonder if he initially set out with the intention of operating it in such a way or he began paying investors with new investors money purely because he couldn't stand the thought of his idea/business failing?
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Personally, I'm not tracking any news in crypto industry, because I thinh that it's useful and this sphere is so manupulated.
Surely ignoring all news is just going to lead to you being ill informed and therefore making ill informed decisions? The only way I could see it being a good strategy is either you don't hold any crypto or you are a long term holder and will not sell before x amount of time under any circumstances. Manipulation or not, news is a good indicator of what will or what is currently happening in the market. |
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Truthfully I would like both to happen but I won't lie and will admit that primarily my own finances will come first. I would love to promote crypto in such a way that it can achieve both of these objectives but I won't put the success of bitcoin ahead of my own livelihood.
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I read the news and I also visit this forum near every day to spend some time reading threads or at least scanning the titles. Aside from that I am a member of multiple communities and also have friends who will message me if anything major is going on to discuss how we think it will impact the market. It's always best to have multiple methods or sources because you might miss something with one.
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Is this Zachary Coburn guy a US citizen or not? My guess is that he is but I would be really interested to know if not. I wonder if the scenario would be any different for someone who is a US citizen or not, surely if they're not a US citizen or based in the US then the SEC has no remit?
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I do a ton of trades a day, but I have to transfer cryptoccurency from one exchange to another. Since bitcoin transactions take a lot of time and theres a fee, what do you think I can do? Should I sell the bitcoin on the exchange for a fast currency like NANO and then transfer it to the other exchange and then sell the NANO there to get back the BTC? Do I make any sense? Any answer will help thanks 🙂
On some exchanges that's best. I often times used DOGE for such a thing because the transfer fees were as low as 1-2 dogecoin. The only problem is you are then doing more trades so more trade fees and you might have to wait to buy/sell the currency you swap your bitcoin in to temporarily. Exactly, I previously used DOGE to make my transactions quite fast if I wanted to. But then again, Bitcoin network is not that clogged anymore because the network spammers has already stopped. Plus exchanges now are batching their transactions which lessen the burden on the mempool as well. Fee's are extremely low as well, heck even a 1 sat/byte could easily be confirmed in the next 5-10 blocks so I will advise the OP to used bitcoin instead of the hassle to convert from one coin to another. You're right about the network and the mempool but a lot of exchanges don't have dynamic fees or don't let you choose your own fee when withdrawing, so it can still be much higher in BTC than in other coins. I guess BTC is the best choice in most scenarios but unless given a specific exchange and a specific pair we can't give an answer for every scenario. |
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Wow, great news...huge.... https://www.ledn.io/ Isn't it great? For a 10 000 CAD you'll be needing just a collateral of 3.3 BTC or roughly 300% of the sum you try to get. I wonder what the actual terms on the loan are though. I feel like it's going to have either a huge interest rate or something else that would make it a terrible deal. Banks aren't going to offer a decent rate given the volatility of bitcoin.
They say 1-1.5% monthly, and T&C may apply so...we can safely assume something around 2-3%, and that is monthly: Wow, thanks for digging in to that for us. It really is terrible then, it makes no sense for anyone to do this. Just sell to fiat and take out a loan in fiat where you'll get much better terms. I can't think of any person who would actually benefit from this. Maybe only someone who's extremely cash strapped and over invested in to bitcoin and doesn't want to sell that bitcoin? But it's not a sound financial decision. |
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I do a ton of trades a day, but I have to transfer cryptoccurency from one exchange to another. Since bitcoin transactions take a lot of time and theres a fee, what do you think I can do? Should I sell the bitcoin on the exchange for a fast currency like NANO and then transfer it to the other exchange and then sell the NANO there to get back the BTC? Do I make any sense? Any answer will help thanks 🙂
On some exchanges that's best. I often times used DOGE for such a thing because the transfer fees were as low as 1-2 dogecoin. The only problem is you are then doing more trades so more trade fees and you might have to wait to buy/sell the currency you swap your bitcoin in to temporarily. |
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Looking at your question, here I feel there will be two different answers according to the type of individual type itself.
1. They hope the market is more stable (for those bounty hunters or others)
2. They expect the market to fluctuate and continue to move up and down (usually they are traders, because that's where they can get profits)
3. They want the market to steadily increase at a moderate rate so that bitcoin adoption can increase and it can be used as intended instead of just as a vehicle for further profits in Fiat. Disclaimer: not saying that's you, just saying that's a 3rd option. |
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I wonder what the actual terms on the loan are though. I feel like it's going to have either a huge interest rate or something else that would make it a terrible deal. Banks aren't going to offer a decent rate given the volatility of bitcoin.
Yup. Not one single detail about the ins and outs of this. Before declaring this as the next step we need to know whether it's sustainable or affordable. I just do not see how it's going to work for the masses. No doubt it's something many places have looked into. Most of them will have discarded it. That's true if it has a ridiculous interest rate it might as well not even truly be an option, you're better off doing something else. You can almost guarantee that will be the case, bitcoin is terrible in terms of collateral. At least for now. You can barely get a good interest rate using a house as collateral and they've been proven over many decades to have an ever increasing price so I can't see any bank offering decent interest on a bitcoin backed loan. |
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Really it will become just like gambling, addictive and manipulative, it's very much like poker only if you are an expert you can accomplish something
This is also a remind for myself, sometime I would like to trade again but I remember the bad experiences I had with it and stop
If you avoid everything until you are an expert in it and are 100% sure of what you are doing, then you will never do anything in life. It pays to be prepared in advance but some things you cannot learn without the experience of really doing them. |
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Shorter term I would like to see a more volatile market, but longer term and removing my own personal interests, a more stable market would be very advantageous. A large issue bitcoin faces with its adoption is the volatility, retailers are not willing to accept it due to the level of risk that it exposes them to. Remove that and bitcoin is far more feasible as a day to day currency
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I wonder what the actual terms on the loan are though. I feel like it's going to have either a huge interest rate or something else that would make it a terrible deal. Banks aren't going to offer a decent rate given the volatility of bitcoin.
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I do not know of any and even if any do exist I am sure that they won't have any reasonable volume so you won't be able to trade with them. I assume that was your reason for asking, so you could look to grow your NEO/LTC holdings without selling them?
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For example fear is often a good indicator that you've invested too much or your investment is perhaps not fully researched.
Investing more than you can afford is definitely a contributing factor to fear, but it only adds fuel to the fire. People in general are bad losers, especially if the price does the opposite of what they assumed it would do. Fear kicks in whenever people lose confidence, which is when they are on the losing side of a trade, regardless of it being your family savings or some pocket money. People at all cost want to try avoid losing. Don't forget that the smaller the amounts are that people trade or invest with, the higher the risks are they expose themselves to, all because of how people aim to profit big, which is why leverage platforms have gained so much popularity. Naturally we are. However, and I can only speak for myself in this regard. I get a level of sadness and disappointment if an investment goes the opposite direction to that which I expected but I have never experienced fear when investing a sensible amount, because I know whatever happens I'll still have what I need to survive and be happy. The point about smaller amounts being higher risk is a very good one, mostly people don't have the patience required to start small and steadily work their way up. |
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4. That the best traders are ones that embrace losses and use them to become better.
To be a good trader, i think he should not be afraid to commit mistake and always explore the possibility of finding an opportunity. Each one of us can commit mistake but we should make this mistake a lesson for us to grow. Yes mistakes can be the lesson for us to grow, experienced would be great to be become a good and successful trader in crypto. Every traders here have own strategy, knowledge about in trading, make a research for sure it would be great. absolutely because we have enough experience and knowledge so we do any trade it will definitely be successful and run smoothly, and the last one in trading must have great patience Embracing losses is a mistake, learning from them and accepting they're inevitable is correct but you shouldn't pursue losses and they should still hurt. You need to minimize how often you lose and how much you do lose. |
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