I never done trading so curious on this. Also don't have the money to trade as it would be for small amounts so I don't think I could make much. Is that true or false? You need a lot of money to start if you want to make enough trading for a living right?
It isnt really necessary for it to make it big because all matters here on how you do trade efficiently and profitably.It doesnt need to start up on big time and if you are just starting up from scratch then you're most likely to lost up those funds in first tries.Dont rush up on making yourself sustainable.Yes, it cant give out the chance to trading for living but it isnt really easy as it sounds yet this situation or target to be attained with take years before you would able to consider yourself sustainable. If so, there tons of ppl doing this? Because it seems like if you have a lot of investing money... with how btc is... and it going up and down... wouldn't trading make a lot of sense for someone with a ton of money? I mean we seen ten percent increases and higher in a few day span. And obviously it goes down that as well but as long as you hold and don't sell, well you don't lose. Now imagine a huge thirty percent increase in btc to 13000. This person would make 300000 usd minus fees and minus taxes... they would still take a net of like 190000 usd right?
Main advantage for those people who do have financial capacity.Of course they can earn tons but to think into the other side that they can lose big time to.It will always equate on how much you had risk and how much the reward that you can potentially earn or also lost.Fees? Its always been part of the ecosystem and you should really get used to it. Well if you only buy btc... isn't that really safe if you had to pick one coin to choose? You say... where you could lose big time... well unless you sell at lower price... u dont lose right? I mean if btc drops to 8k even when you bought at ten k, you dont sell you dont lose... but say it hit a good amoutn higher, then you sell and lock in profit though? |
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Isn't the issue with this many sites won't accept it due to chargeback?
Also but main reason is the fees right? Because if no fee, wouldn't it make sense since lot of ppl get cashback with their credit cards?
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Well if you are a trade, obviously volatiliy is what you want right?
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I never done trading so curious on this. Also don't have the money to trade as it would be for small amounts so I don't think I could make much. Is that true or false? You need a lot of money to start if you want to make enough trading for a living right? Yes. You need significant capital to make large enough trades to make a living off of. If you've only got $20 in capital, the idea of making a living from it is crazy. Not only that, but a professional trader needs to hedge against downswings and drawdowns, periods where they under perform vs. their expected profitability or lose money. That usually means having a cushion of several months or better yet a years worth of living expenses saved. You need enough cushion that you are psychologically fit for trading (not emotional) and not forcing trades because you are desperate to make money. Not having enough cushion in the bank is very dangerous for someone who depends on their trading income. Let say you want to make around 50k a year for someone in the US trading As im sure lot of US ppl know, if you trade short term, you have to pay like 35% on your short term gains. That's only near the very top tax brackets, if you're making $200K+ a year. You pay your ordinary tax rate on short term gains. For some people, that means 10%, not 35%. So basically in these transactions... the trader made 50,000 usd... but pays 5125 usd in fees right? So net profit is 44875 usd? So say that is the only transaction this person did all year with trading, they pay tax on short term for 15706 usd on their profits... so they make 29169 usd right?
If so, there tons of ppl doing this? Because it seems like if you have a lot of investing money... with how btc is... and it going up and down... wouldn't trading make a lot of sense for someone with a ton of money? Trading isn't easy. It is not like printing money. A lot of those traders will end up losing money. Most of them, in fact. Are you from the US? If so, you say thats only the highest tax bracket percentage... I dont think you are correct here. Aren't all short term profits doesn't matter the amt taxed at that rate though? Im pretty certain it is? Well if you buy btc only like in my example and never sell it unless its higher than your bought price... then you don't lose right? |
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what about you guys who want to make enough to trade for a living but dont need that much profit a year to do so? Imagine thirty thousand usd for example.
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Is it really a good idea to sell when you are down money in a coin?
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If this is all true, wouldn't it make sense for ppl with a lot of money to do these trades? I mean even if you have a job, well you could do this on your free time easily right? I mean I know you could even set the software in the trading app where you could have it automatically sell all your coins once its a certain price so you don't even have to look at it. Then say it hits the price you want to sell it all, then you net all the profit... so its like you have extra income.
Obviously if you are trading, you would be staring at prices all day... but not if you do it this way right?
But if you want to make 50k usd or so, how much investing money would you need? I have to assume at least double that minimum right? I think you probably need like a quarter million dollars? Now if you have a few hundred dollars or a bit more... i guess only way is to buy altcoins and see if they explode... then now you have the money to buy btc since btc is the most consistent coin there is in terms of reliability?
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I never done trading so curious on this. Also don't have the money to trade as it would be for small amounts so I don't think I could make much. Is that true or false? You need a lot of money to start if you want to make enough trading for a living right?
Now imagine you are someone with no job but have a lot of money. Or a lot of money and a job... doesn't matter. But you have lot of money to invest.
Let say you want to make around 50k a year for someone in the US trading As im sure lot of US ppl know, if you trade short term, you have to pay like 35% on your short term gains. And you pay 15% when long term but obviously people want money coming in monthly like income with a job.
Now imagine someone with a million dollars as investing money... decide to buy 100 btc with the price at 10k a coin to make it simple. I don't want to use an altcoin as an example because those are risky and you can easily lose everything as coins do drop to zero... so basically stick with the top coins on the list. Now let say btc went up and down for the next few days and then btc went up to say 10500, now the person sells all 100 btc for 1.05 million dollars. Let say trading fees are 0.25% fees. Is that the rate now for trading btc? Now in the first transaction, to buy a million dollars worth of btc.. fee would be 2500 dollars right? Then when you sell the btc... fee is 2625 dollars... can anyone confirm the math here?
So basically in these transactions... the trader made 50,000 usd... but pays 5125 usd in fees right? So net profit is 44875 usd? So say that is the only transaction this person did all year with trading, they pay tax on short term for 15706 usd on their profits... so they make 29169 usd right?
If so, there tons of ppl doing this? Because it seems like if you have a lot of investing money... with how btc is... and it going up and down... wouldn't trading make a lot of sense for someone with a ton of money? I mean we seen ten percent increases and higher in a few day span. And obviously it goes down that as well but as long as you hold and don't sell, well you don't lose. Now imagine a huge thirty percent increase in btc to 13000. This person would make 300000 usd minus fees and minus taxes... they would still take a net of like 190000 usd right?
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I write all my seeds in my notebook physically, not in mobile notpad or in laptop.I think this is safe way for safety of assets.
If that's convenient for you then its good, but also remember to do a photocopy of that page where your seeds are written and keep it some where else apart from your house, just incase a fire incident occur you might lose the notepad, but atleast you will a have back up so no need to worry, although theres no 100% proven method on how to keep our seeds, because everywhere we keep it is at our own risk, even if you save it in the google drive, the gmail might get hacked someday and someone will have access to your seed, so we should just try out best to keep them safe. Well what about putting the seed in keepass then? So someone hack your gmail, they still need your keepass master password? |
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I've seen a lot of creative ideas above, but I think most of them are unnecessary. I wrote my seed on paper and tried to memorize it and then burned the paper. Actually, it is really easy, only has 24 words. If you read only for one hour, you can memorize it very easily.
Memorizing that entire seed? You got to be kidding me. How can anyone well most ppl remember that long of a seed? I could imagine someone remember a 12word seed... but anymore than that is way too much.. |
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Which coins do you stake then?
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If you are trading altcoins, isn't binance number one no matter what?
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Is this still valid right now? I still haven't claimed my bitcoin sv... only bitcoin cash.
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Like to put this thread back. I still haven't claimed by bitcoin gold nor bitcoin SV. How do i claim my bitcoin sv now?
Again my situation is much different because i kept my btc in electrum when the bitcoin cash fork happened... but i didn't claim the bitcoin cash until much later with electron cash. So how do i claim the bitcoin sv now?
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What percentage of hackers who do this get caught? If they use a vpn and those mixing things... they still aren't safe right?
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How is it even easy to do that? Majority of traders lose right?
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Does vpn protect it though?
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So the ledger recovery app that allows you to verify if your seed is correct.... has nothing to do with the coleman bip program then?
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Which two factor is the best? Google authenticator or just Authy?
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The issue here is if someone else finds it, isn't it sort of obviously the seed means something? Compared that to putting it on a piece of paper in a notebook with a ton of other information and words there?
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