No mate, this is not practical and a all it takes it just one bad day for an Altcoin to ruin all your compounding profits and make it worthless. I would suggest you to come up with an strategy, I can share one of mine but it won't work for you because we both might have different calibre to execute the strategy and efforts might differ. Start from small profits and then multiple it then set aside a percentage as take profit and continue with rest until you achieve your desired results. There might be losing day you gotta consider those as the day of accumulation to sell it or higher at winning days. Try writing down your strategy and start with very lesser amount to check trail and error basis.
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Some of the major factors that affect the price of Bitcoin include government regulations and policies, technological advancements and developments, security breaches and hacks, market speculation, public perception and sentiment. For example, when a government announces favorable regulations for cryptocurrency, the price may increase because it increases its legitimacy. On the other hand, if a security breach or regulatory crackdown is reported, the price can drop significantly. Additionally, the economic and political stability of a country also plays a role in determining the value of cryptocurrencies. For example, in times of political uncertainty or economic instability, people may turn to cryptocurrencies as a safe haven, thereby increasing demand and prices. Overall, cryptocurrency prices are not only influenced by market forces but also by various external factors.
Just like how any bad news related to a particular commodities affect the price of that commodities the same way it happens with Bitcoin as well. For example if you see any major negative new involving Bitcoin such as multiple countries banning it or warning against its usage or let's say a major hack or security reach has taken place it affects has negative impact on Bitcoin and same way let's say a major company or business or e-commerce starts accepting Bitcoin as a payment then its price pumps up. News around Bitcoin has impact on its price but these are temporary basis as Bitcoin ha been thriving at the end of all the mess and will continue to do so.
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Good that you were able to convince your employer to pay you via BTC but it won't be easy for most of us and almost impossible if one is employed at a large corporate or organisation as they have their own financial system and everything is automated as they cannot pay you in any other mode except the fiat as it looks impossible to me that an organisation needs to first buy BTC or pay to the seller by sharing your BTC address and there are countries where dealing in crypto is still taboo.
But for freelancing, projects and services you can always request payment via crypto of the payer is familiar with crypto else getting payment through crypto is not feasible.
In situation like the current one who bears the transaction fee where it's way too high?
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I have heard of this Zuga coin like once or twice for being overpriced and a bubble waiting to burst but never saw it in any of the exchanges, and the same think happened. As you have tried explaining Bitcoin cannot be compared to any other coins and moreover these coins which are pumped just to be rug pulled, this is not the first such coins and there are other coins with good marketcap and listed on exchanges like Binance couldn't sustain then how come Zuga coin even had a chance. I am talking ab out YFI which touched $95000 during it's peak in May 2021 is trending at $9k now even after being a coin which was adopted by users had a good volume. It's upto people that they should learn from the past and shouldn't jump into suspective coins.
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This is very much possible as everyone wants to secure future of their offsprings and retire rich, as well as live comfortable life. But the real question here is whether you are going I hodl Bitcoin until it reaches the figures you have estimated or sell at peak of Bull run and then buy back during bearish market as I think it might take couple of more years for Bitcoin to reach near $200k and a lot of patience is required. I am suggesting you to split it between long term investment (hodl) and then also keep accumulating Bitcoin during dump with a combination of selling at pump and buying at the dump by this way you will be able to accumulate more Bitcoins.
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In past two days USTD has been through a roller coaster ride, as some started investing into USDT and LUNC though I warned it's only for those opportunistic and risky traders who would be active and knows when to apply stop loss and take profit. Again yesterday it went of shorting spree from 0.078 to 0.0301. I mean iont usually do future trading but was involved yesterday shorted from 0.0724 to 0.039 with 20x leverage and got 8x in returns, but we should not be involved in these risky coins if we are not actively monitoring the price.
I want to conclude by saying that whenever a coin goes bankrupt and makes a comeback, it does have rally at certain stage but there would be more losers than winners hence I feel this risk doesn't worth it a it may go to zero anytime again. Now people may think I got good profit still whinning, no I know how much stressed out and it doesn't worth t.
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Atrocious transaction fees are never welcomed as I don't think anyone would like to pay transaction fee more than the actual amount which they want to transfer especially in case of micro transactions. What's more worrisome is the fact that there are people defending the inflated transaction fees justifying it stating it has happened in previous bull runs but my question is why should it be that way? Bitcoin was created for P2P and not just for huge business transactions, I definitely get bad impression when it comes to transaction fee.
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This isn't any rocket science and CBDC is digital currency and it won't differ much from the existing online payment method except the fa t that it would be via blockchain and I think it's gonna make tasks like cross border transactions and it would help in cashless economy but those who had been using online payment will not find much difference. It's centralized and from the government so why would there be any crisis apart from the usually economic crisis which occurs.
I hope they test it thoroughly before launch and proper education the public in the same regards as this will put vulnerable populations at the risk of online frauds.
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Yeah this forum has a lot to offer, right from the very basic of Bitcoin and Altcoins to trading. I have personally found trading discussion forum very useful as I used to trader and include some of the ideas share over there. But, we need to be cautious as this forum contains scammers as well and you will find people saying users promoting scam projects which you can see regularly under Altcoin section.
Whenever I am unsure of something i usually search for the particular keyword of the topic in this forum and go with the response or information shared by a trusted user.
This platform is a boon for us if we utilise it in the right way.
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Those were golden days of Altcoin wherein could have easily become rich just by joining in bounty campaign but post first quarter of 2018 everything got changed and scan projects started popping up and this damaging the reputation of reputed bounty managers and left them to take abuses from the users and red trust from DT members. Devs were not even paying the bounty manager and they had enough of it and decided to stop brining the bounties and either they became an active participants as Bitcoin paid signature campaign and some have silently moved away.
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In order to make people adopt Bitcoin faster we need to have a strong community who should make Bitcoin accessible for everyone and to be honest Bitcoin cannot be used as an daily payment method for day to day shopping or paying bills due to volatility, though Bitcoin volatility is very lesser in crypto domain but for mainstream industries it's way too much this it will remain as P2P.
Some of you might not agree but these unreasonable extortion in the name of transaction fee is something which no one would like to pay and will always be a blocker between Bitcoin and adoptability though P2P will continue seamlessly
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This is similar to the rally we have seen for FTX, USTC has pumped massively in last two days roughly around 5x, now LUNC is on rally but it's nothing short of gambling if we enter now as these have been bankrupt once and there is no guarantee that it won't happen against and Seema like whales had already accumulated huge amount of these tokens and now in mood to play around with market. We can earn good profit but due to the higher risks involved.
I would suggest people to away away if they cannot be on their toes and play with stop loss or OCO post investing.
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Right from the beginning till the end I feel something fishy and there's more to it, I have been in this domain for a while and client paying upfront $2500 is something unheard of, regardless of of who the imposter is behind this telegram account which you have mentioned just check with him if he/she can help you understand how did they got this account and there are possibilities of this person getting recycled number and when you discussed about the project he is trying his luck to fish more information. But I don't think anyone paying $2500 and disappearing is normal, to be on a safer end you may report this to the relevant authorities as it could help them if and the client are from same country else just don't stress out.
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We all learn from our mistakes and we should rather consider the mistake we make initially as an experience and try not to repeat the same mistake again, to give you an example some newbie or even somewhat tenured traders end up losing huge chunk in futures trading just because of setting the leverage too high and I was one of them then I have learnt from my mistake and don't get into anything more than 5x leverage for futures. But the most important thing is one have to learn from mistake and not just repeat the same mistake as Bull run and halving event are lined up we may see people repeating the same mistakes like buying due to FOMO at peak, selling due to Fuds, falling for ICO scams to name a few
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I want to ask everyone, now the number of altcoins is increasing and the prices are various, do you know, in your opinion, what altcoins are still cheap now but have good potential for the future? I want to hear an explanation from you?
in my opinion I have 3 altcoins on my list namely eth, bnb, xrp based on my own research I am sure these 3 tokens are currently still cheap and have the potential to rise and give us profits in the future this is not a financial advertisement do your research Alone These are top ranking oldest coins so there are no doubt about these three coins potentiality, I trusted ETH more than XRP or BNB, and i holding that coin but it’s a big coin so it’s difficult to good profit from ETH. On the other hand small coins are too profitable as you can see MATIC price was 50 cents a month ago but it’s recently big pumped over 90 cents but ETH & BNB such big coins aren’t increased as like MATIC. I am echoing the same statement because those top altcoins who have already been through bull run and a massive surge in its price previously doesn't stand chance for similar margin and rather it would be some new promising altcoins, like how SOL, UNI, SUSHI and the list goes on. We red to figure out the new projects which has potential rather than betting on those which has already crossed it's peak. Though we may see 2x or 3x but not comparative to the amount of profit new ones will do. But need to do our own research before investing.
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I would keep it really simple and what I would have done if I were in your situation. If you are in for long term investment then leave it until halving and possible bullrun as price will surely increase as per the past trends. But if this investment is something which you cannot commit even until the halving next year then you can sell a part and take out the capital you invested and let the profit still be in Bitcoin and leave it for a longer term.
Don't confuse yourself way too much and just think about what I have mentioned above.
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It's always risky. For more than a year I was investing in BTC only. I wouldn't recommend it, but I can say my opinion. I think that it's a viable strategy.
I agree with you, if we want to invest in cryptocurrency safely, then Bitcoin is the right choice, because at any time the price of Bitcoin will continue to increase and make a new ATH price when the next bullrun occurs, therefore Bitcoin is the best long-term investment for currently, but of course investing in Bitcoin will not be able to get as much profit as investing in altcoin, because the greater the risk, the greater the profit we will get, but if you really want to invest safely then Bitcoin is the right choice. Yes Bitcoin has always been the safest investment medium when it comes to crypto but Bitcoin investment will be considered too volatile and risky for traditional commodities/stock investors and when it comes to crypto investment Bitcoin is considered way traditional with limited movement but Altcoins are considered too risky. To be honest we can earn good profit through Bitcoin itself by executing multiple trades, I would prefer making 10 trades of 0.5% profit in Bitcoin instead of risking my capital for a 5% profit in altcoin. But Altcoins will be more profitable and if I can be a full time trader then Altcoin will be preferred with active monitoring and strategy. Bitcoin = Long-term and holding Altcoin = Short term and never hodl
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Almost all f the targets are possible with slight variations as per my personal opinion except for the XRP and Doge. As XRP has not breached it's previous ATH in last 5 and half years and it's too much of an time for any crypto to achieve it this I would say it won't ever breach it, Doge would be good around $1 if there are heavy hype and Elon Musk pull out some magic else difficult.
All the other altcoins which you have mentioned has very much possibilities of going beyond the figure especially ETH and BNB (If there ar no further controversies like CZ's acceptance of the crime and getting involved in illegal activities).
Solana just as to double from its previous ATH which is possible in the bullrun.
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We are stll far away from those days as of now it could only be used as cross border P2P payment system but it won't become mainstream soon or never become mainstream due to volatility and factors like what if the value of the crypto has increased or decreased while making the payment and who would be responsible to compensate? There ar projects where you get an option to send it via crypto and recipient will get it in fiat of their choice which has to be selected become sending, example Utrust. But people will always be hesitant to use crypto as payment for business but rather stablecoins will be widely used without any doubt.
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First of all the topic itself is offending as you cannot predict one to remain poor when you never knows about your future.
CBDC has nothing to do with crypto as it's as good as digital payment you make which is completely controlled and it's centralized unlike crypto, why such hype for this? Their main objectives is to somehow stop people from adapting to Crypto and just because they use blockchain it won't change anyone's life and even if there is any impact on price of crypto to this then it would be temporary one just like how there is very little impact on Doge whenever Elon tweets about them.
It's a trap if we assume CBDC is going to have positive impact on crypto and NFTs are the biggest scam and joke I have ever come across and cannot even imagine in wildest dreams that rela estates will be based on that.
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