Hello,
If someone bought the Dogecoin at the highest price, then it is better to wait or change it to other cryptos and make money by exchanges and swap?
Any idea welcomed.
Thank you.
Lets say that someone is you. Now what you will do depends on YOU. You bought when the price was high. You did that because you were expecting it to go even higher. So if you invested money that you could afford to lose, then keep holding till you have reached your profit goal. If you have invested money that you can't lose, then cut your losses short. Exit with whatever you have. You shouldn't have invested in the first place. And now if you can afford to lose, but you see that other coins might give you better opportunity, then swap your coins to those coins. You don't have to keep holding. |
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The digital age brought our lives to a second universe - The internet. Ever since the internet set sail Banks had to adapt and present new services and options to their users. However, the digital also brought us digital money and financial freedom. Cryptocurrency is here to stay and is bound to disrupt the way we manage and relate with our money. Banks will need to adapt or they face certain death. While some Banks and financial institutions have been historically fighting cryptocurrency others have already understood the need to adapt to stay ahead of the curve as in the case of some Spanish Banks. Nevertheless, this is still a new technology and Governments with its old fashion regulation as well as their Central Banks are yet to implement adequate regulation and are still a bi hindrance for cryptos to go mainstream. Luckily, things are changing rapidly and mainstream adoption may come sooner than we think. Do you guys think, this will happen within this decade or not? What do you mean by adapt? You mean integrate bitcoin and other crypto currencies to their system? Then no, we don't want that. It will just make the whole "decentralization" meaningless. We don't need banks. We are our own banks, aren't we? Banks offering crypto services means they will eventually start controlling the whole network, which is something we all would hate. If you mean banks should be using blockchain tech for making transactions, then some of them are already preparing to do so. |
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Am I correct in thinking that as the price of bitcoin goes up, it will take a lot more money to raise the price? Here’s an example…when bitcoin was $10,000 if 10 people bought $10,000 each, that meant 10 coins that we’re taken out of circulation driving the value of bitcoin up much more than if the price of bitcoin was $100,000 and 10 people bought $10,000 each of bitcoin that’s taking only one bitcoin out of circulation. So as the price of bitcoin goes up it will take a lot more cash inflow to raise the price. So is it safe to say that we will not see rapid gains like we had a few years ago where a bitcoin would go from 1000 to 10,000? I don’t see how so much money can come into the market to make it rise from 100,000 to 1,000,000 in an equivalent time span
Depends on the demand and supply. It's the buy and sell pressure that sets the bitcoins price. The more buy pressure (high demand), the higher the price will go since people will be selling their coins at higher price as more people are willing to buy. When the sell pressure (high supply) increases, the exact opposite happens. People are willing to sell their coins cheap for whatever reason and buyers are setting price even lower, causing the price to drop. The buy and sell pressure eventually reaches an equilibrium point, and that's the less volatile price we see. |
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I don't see any difference between investing as a retail investor, asset manager or as a trader. They all face the exact same risks everyone faces which is volatility. The crypto market is very volatile. The price may go up or down within few seconds. The risk is less if they are willing to invest and hold coins for long term. Coins like Bitcoin and Ethereum will give them a good profit. There is also the regulatory risks. Any new regulations added by the government might cause problems to current investors.
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lost 20k in 2 days , used up all my profits from my portfolio , and i just wanted to keep on going . how you guys stop yourself from betting/gambling on casino ? looking for ways to bet on sportsbook but not on casino , but stake does not provide the option for that .  You just lost $20k gambling, and you still want to look for ways to be on sportsbook? You are addicted! The good thing is at least you realize that your addiction is real and it is might cause you harm. The first thing you should do is let your close ones know about your problem. They will be able to help you stop your addiction. Next you probably should contact one of those problem gambling helpline and get their help as soon as you can before you cause further damage to yourself. Don't forget to contact those casinos where you play and let them know that you are addicted to gambling. They will help you block your account and restrict access to their website. |
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Dmitry Marinichev, a government official under President Vladimir Putin rule revealed in an interview that the country's regulatory position towards cryptocurrency will largely stay prohibitive. According to him, Russia doesn't want its citizens to earn money through cryptocurrency so, regulation will mainly stay the same despite the increase of crypto interest in the country. This is basically more of the same. Russia trying to tackle cryptos while blinking an eye at the same time. Where did you read this? Sounds more like the article trying to spread FUD. Why would a country be against crypto currencies because they don't "want their citizens to be earning from cryptos"? That would be plain stupid. I am sure the reason is something else. It is probably because their government is currently not being able to find a proper way to regulate crypto currencies. And doubt Russia will put a ban on crypto currencies. |
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Today I took my time to go round the market, there are more than 9000 cryptos in the market, but bitcoin is still the king. Now that many other cryptocurrencies are seriously pumping can they take over from bitcoin? If they take over from bitcoin can they last in that position like bitcoin?
What is your opinion.
There are more than 9,000 crypto currencies and around 99% of them are just shitcoins or coins that are just clone of another coin. Most of them offer nothing new and are made to just pump and dump the coins. They don't usually last long. Bitcoin currently is on the top and very highly likely it will reman on the top. I doubt any altcoins will be able to take over bitcoins position. But we have been hearing how ethereum might take over bitcoins position based on market capitalization. It might happen... you never know. |
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Crypto betting does provide a lot of advantages.
1. It's more private
2. It have more options
3. It's more varied and more games are available on the sites, more colourful as well.
4. The online betting is more successful while integrated with the crypto, online fiat betting is not that interesting for people ( very good for quarantine )
5. You can also bet internationally easier than betting with fiat hands down.
There are many more things as well, for me I prefer betting with cryptocurrencies since fiat doesn't come with much options.
You do have a lot of advantages, but not those that are on your list. 1. Most of the crypto casino will require you to go through some sort of KYC. So you no longer remain "private". 2. Such as? Fiat casinos have better gambling options in my opinion. But Crypto casinos are catching up. 3. More varied but most of them are almost identical. 4. How is crypto better any different than fiat betting? It's all the same. Just different mode of payment. 5. Makes no sense. |
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So I keep hearing HODL, HODL, keep holding and all that. My simple question to everyone is "when is actually the right time to sell Bitcoin or we don't ever sell it"?
How then do we say we have made money from it if we don't sell?
Are you investing because you want to make money? Then set a profit goal, once you reach it, take your profit and leave. Or you can invest again, and keep repeating what you were doing. Hodl, reach profit goal, sell and repeat. That's it. You don't have to hold forever if you are here to make profit. Now if you invested in crypto because you believe crypto currencies will become mainstream and will replace fiat (which I doubt), then keep holding and investing. You probably will never have to work again because you would have accumulated enough bitcoins to literally buy anything. |
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What you are saying may really happen in their country. But if they introduce digital currency to its citizens, then maybe it will be the start for its people to be acquainted with cryptocurrency. And once they realized about the benefits brought about by crypto vs their national digital currency, they may opt for crypto instead. So I don't see this move in total negative side, there may be good things that will arise from this initiative.
Digital currency and crypto currencies aren't the same thing. They are just the digital/virtual form the fiat currency. The government controls the supply and can issue as much "digital money" as they want. Just a digital version of their currency fiat money. I don't think this will make people interested towards crypto currencies. I mean people have already being using Paypal, venmo, cashapp and other "digital wallets", yet they haven't moved to crypto currencies, have they? People will be using digital currencies more than crypto currencies because those currencies are issued by the Government and they think whatever the government approves is right for them. |
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Imo, it is the starting of the bullish era. because many altcoins are still struggling to reach at least their own ATH. But most of them are not. Hopefully, Bitcoin will not crash again so that altcoin season will really happen this year, at least next month or at the end of this year.
Well, this may be a difficult prediction, moreover, we can find so many predictions about the pros and cons of the bullish trend this year or next year.
However at least, now we can breath fresh air with the price of Bitcoin is still more than $60k
It went from $38k to $60k USD really quick. So probably we will be seeing another correction. Maybe this time it will be around $50k. Though I have been reading everywhere that the price will reach a new all time high within the end of the year. We never know what's going to happen. And if bitcoin goes bullish, most of the altcoin suffers. We have seen that a lot. But things have been a little different this year. Surprised to see altcoins performing well even when bitcoin was both bullish and bearish. |
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Most of the people don't actually pay attention to what is being advertised around. If we see some sort of advertisement around we ignore it out of instinct. Tell me how many new billboard signs/advertisements do you remember today that you saw? I am sure none (expect those that you have been seeing everyday). 1 billion users might watch the game you are talking about, but only few will notice those advertisement and most of them will be those people who already know what bitcoin is (like you). Others won't care.
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What else do they expect? They are going running around telling people how rich they are. They probably are seeking attention and they are getting those attention but from the wrong people. They just make themselves an easy target for criminals. Hope that kid has been returned home safe. He learned a good lesson. -snip-
A lot of crypto traders have been receiving threats as in the case of Daniel one of the guys from Chart Champins.
-snip-
I don't think he is the only one who receives constant threats. Almost all public figures involved in crypto or not receives those kind of threat from day to day basis. It's nothing new for them. They just ignore it. |
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I am interested what do you guys use for payments.
I like Litecoin paying the most (superfast and supercheap) but I am not afraid to pay with Bitcoin.
Doing this little research because I am preparing project
I will appreciate honest answers and comments
Thank you
Of all the coins that you have mentioned I have used only Bitcoin, Litecoin, Dogecoin and Ethereum for making payments. Right now I only use Bitcoin when the fees are reasonable (which it is most of the time). Ethereum has some insane fees for which I stopped using it, but currently holding it for long term. Sold all dogecoin. Don't remember when was the last time I used Litecoin though. And for the most of the time I am the "fiat guy". |
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The crypto industry is still young and growing, continuing to innovate including NFT will definitely survive in the future.
Non Fungible Tokens, are basically tokens that cannot be replicated and cannot be replaced. Therefore, an NFT artwork is always unique and can be authenticated with blockchain technology via an immutable certificate of authenticity and ownership.
Still don't get it why someone would want to buy an NFT artwork that is some jpeg files that anyone can copy and enjoy the same way as the owner of the original content would enjoy. I am not against NFT or anything. I am just trying to understand the NFT space. I am sure most of the people are here for the money, not to appreciate the artwork. Sad to see that people are using them to make some quick profit by trying to flip them as much as they can. |
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There are 3 options to profit in the cryptocurrency industry. according to my version like this:
- Trading: It is called a way to get more money by trading cryptos, either by transferring between them or by providing exchange services.
- Investment: There are many cryptocurrencies with a good future, but I only recommend Bitcoin and Ethereum.
- Gambling: sometimes beneficial and sometimes detrimental. I don't recommend it at all (risk high)
Don't invest yet until you're able to understand the whole concept of cryptocurrencies and how volatile this market is.
There is a process before you can do that, however, you can start by buying bitcoin with around the smallest amount that you can test to see how it feels like owning it but you won't feel the fluctuations since it's just a small amount.
These are not an advantage of cryptocurrency "industry". You can literally do these with fiat money. You can trade stocks, you can make investments and gamble with fiat. And what do you mean by transferring between them and providing exchange services? You make everything sound so easy. Bitcoin and Ethereum are indeed good investment, but there are also other altcoins that have a good potential. Do your research and find them. And I don't think gambling should be on this list. |
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Wondering how many of you earn interest on your Bitcoin?
Do you feel this is risky, whoever owns the private key owns the BTC ?
Also any resources for a high interest rate I think around 6% is the highest, these are some I have seen Liquity, Blockbank, Voyager, Nexo
thanks!
It is risky. You are lending your bitcoins to a random exchange or platform. You have no control of the wallet keys, which means the coins no longer belongs to you. You trust that the platform will keep the coins you lent them safe. If the platform goes down or gets hacked, there is a high chance you will be losing all your coins. It is not worth taking the risk. Just hold your coins for long term and make profit as the value goes up. Or invest in coins that you can stake and earn a percentage as reward. |
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Not necessary at all. In fact, avoid those. Most of those classes are just waste of money. They give you information that you can find anywhere on the internet without any cost. Then there are those articles that will mislead you and try to make you invest in shitcoins or use certain exchange that they are promoting. Just google a little. Understand the basics and start trading with small capital. You will eventually get used to it and learn new stuffs on your own while trading.
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Anyone that invests in a meme coin with the hope of getting rich overnight actually deserves to lose everything. They knew the risks, they still did it. You know its a meme coin as soon as you read the name. There are hundreds of those shitcoins (aka meme coins) now popping up. They get pumped up, people start joining and then the token gets dumped. A new one emerges and the cycle follows. And like you said, right now they are using the "coin burn" hype to grab peoples attention. Those meme coins issue 1 billion coins and then they start burning to bring down the supply to 500 million. Why not just start with 500 million tokens?
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Most of the coins that you have invested in will highly likely be here even after 5 years. Actually all of them will exist as long as crypto currencies are still a thing. The only thin you should be worried or thinking about is if you will be making profit in the long run with those coins. ETH will very highly likely give you a good profit in the long run. Cardano and Polkadot might be a good investment, but comes with risk. The rest of the coins, I am not sure. Would be better if you hold more than half of your investment in Ethereum.
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