|
It's no news that the current system of government in Nigeria is not working, but, unfortunately, the government in power doesn't care about it since they want absolute power. Their absolute power is rather killing the nation the more, which is why people are clamouring for restructuring among others.
However, for me, restructuring is just the first option, at least, an option that will help us bring competition and seriousness among regions provided the regional government kind of restructuring is the one that is voted for. The ways of restructuring are many, there could be a mere parliamentary system of government, the one where it is the state that would control its resources, the one where regions would have their autonomy and many more. Secession is another viable option that we should not take for granted. Take a look at Nigeria, do you see any seriousness in the formation? The formation is even causing issues. But when it is disintegrated into small units where people understand themselves better and are closer to themselves with the drive that they do not want the close neighbour to be better than them, then we will be reaching somewhere better.
If you read history, they should have left it to Southern and Northern Nigeria, it would have been better managed that way. According to history, Nigeria was a deceit, a country set up by foreigners for their selfish goals and resources management. They just forced it upon us and left it due to independence without disintegrating back as they met it. That's part of our issues. The so-called amalgamation of 1914 where they believe that one region's resources can be used to better another region is a cheat. Is it applicable in their small rich countries to bring the poor states so that they do not suffer or clear deficits? Needless to say, the agreement of the union is just 100 years to decide if they would continue or not. Is 100 years after 1914 not passed?
I prefer the restructuring, but the way people are now getting angrier and calling for secession, it is not out of the option if it gets uglier than this.
|
|
|
|
Does anyone have suggestions for cashing out crypto without going through KYC? It would be ideal if I could transfer the fiat to my bank account or onto a card. Or is there any other way?
If your money is not so big and it is not ill-gotten, then you do not have so much to worry yourself about no-KYC unless you do not have the documents available and still want to make the transaction. It is when the money is so big that you might not want it to be traceable to you. But remember, crypto transactions are not as hidden and untreatable as people think. I've also read the suggestions of people given to you, you may opt for any of those options, but note that as long as the end transaction has to do with a centralised system like the bank, your transaction is already known (crypto and fiat) and can be traced to you. So, it better be for the unavailability of KYC documents and not for privacy. Remember that bank transfers are reversible but Bitcoin transactions aren't. But it won't anymore be on the platform when the buyer requests from his/her bank that the transaction be reversed. That's why you also need to be very careful in choosing who you deal with.
This one scares the hell out of me. I never thought of this ever since I engaged in P2P transactions. Wait a minute, can banks still be so careless in this present age to be reversing transactions anyhow unless they trust the integrity of the customer 100%? I guess this can't happen in my country. Banks and financial institutions are now more clever not to honour such transactions without proper investigation, and if they must investigate, they must first contact the beneficiary bank, and from there, the transaction would be revealed by the beneficiary customer. Bank and Fintechs in my country are now warning when you want to send money that the transaction can't be reversed. Technically, this has a meaning and no system will be so irreversible, but such is invariably serving as a warning and means that the reversal can't be automatically commanded without a review. This is even if you guys are using the same banks. Are you for real? This is off. No one is talking about crypto casinos. And if the OP would go through Bestchange, he should be ready to partways with an insanely huge part of the money. It will also take a grace for him to see the no-KYC among the options. |
|
|
|
|
I took my time to read all the communications here since it's still a page and I am happy for the OP that his case is being attended to by a trusted representative. Nonetheless, so far, I am just disheartened that an account can be locked without a viable reason for doing that. What if the guy is not privileged to know Bitcointalk, not to talk of complaining directly to the support here?
BC.Game should only work on itself for all these many complaints to stop. Nothing can be shortchanged for fairness in doing business.
However, it's worth giving the BC.Game's support here big Kudos for not telling lies like most would do. Most casinos always complain about multiple IPs and accounts as the reasons to block an account to keep the customer's money to themselves even without a single proof to the claim. For that sincerity alone, I give them, but henceforth, it's good to have a change for fairness to move the company forward.
|
|
|
|
A member asked for the cost of renting my signature space and I told them. Was kinda shoked that the signature is "FUCK Royse777" What sort of signature is that. Would Royse777 or any member informed about this mind explaining? Have you seen anyone wearing that signature? I think I have but didn't observe closely. What is the purpose of this signature ad? Is it a sort of promotion for Royse777? Why the aspersion?
I think I am missing a lot on this forum, I will try to read more effectively these days. What nonsense is that? But you should not be so surprised about a thing like this, there have been attacks on the person of users, and there will be more with time as it will never change due to the flexibility of the rules of the forum. Well, it is you who was tasked with such an ignoble task that will respectably decline it to avoid issues for yourself because it is a direct attack on someone's person with no value shared. And maybe you should let people know about the ones you claimed to have seen as well since it is not everyone that is interested in checking what all signatures of users harbour. This can't easily be known by all because many offers are being sent via PM other than making it public here on the Service section to avoid the intentions known, while some are not hiding any intention but are not just making it a public offer. I have received such offers before and it is subject to negotiation and approval/decline by you depending on your view about them. |
|
|
|
Binance Exchange recently posted an article on their own website about BabyDoge Coin. The Airticle gives instructions on how to purchase Babydoge Coin. Airticle Link: https://www.binance.com/en/how-to-buy/baby-doge-coinWhat is your opinion about this article? What do you want? Babydoge coin will List on Binance or not...? In fact, if the team of the project is very good and honest, then their project will go to a much better position at some point.I think BabyDoge Coin's team is very strong and very responsible for the project.It will move to a much better position very soon and will go to the moon.  Well, baby doge coin still not listed on Binance exchange, we should not assume it will be listed there without official announcement from Binance team. We are hoping baby doge coin will become big like doge coin, but this can be happened if the team and community keep holding with diamond hands. If I remember correctly, I was directed to the Binance article on the guide on how to purchase the Babydoge coin late last year when I was searching online for it, but still, Binance has not yet added it to the list of the coins/tokens on their platform. The reason should be best known to them as they would have studied the situation carefully as well. I have always noticed that Binance though being the strongest exchange in the world still have a lot of important coins and tokens it lacks despite being easily accessible by other smaller exchanges, so the case of Babydoge coin should not come as a surprise to anyone. If not for curiosity and the fact that the Babydoge continues to gain more relevance and even many non-custodial wallets are adding it unlike before, I would not have bothered so much. I even checked about 2 days ago for it, but it was nowhere to be found. This is despite that it has also performed better than many coins and tokens on the platform of Binance, so I do not understand why they should continue to deprive their customers who have been waiting for the addition since about 2 years ago. |
|
|
|
We see that Bitcoin has already crossed $68,000. Only a short time left to reach the all-time high. But we might see a new Bitcoin ATH as soon as today. Currently the price of bitcoin is $68172 very soon we will reach 70 thousand dollars. The way the market is growing, the market may reach $100,000 before the upcoming bull market. Those who invested between $15,000 and $17,000 have seen huge gains today. So one should never fear investing in bitcoins it is better to go ahead without fear.
The way Bitcoin price is going up looks like it will cross the ATH very soon today. Yes, there is no need to be afraid to invest in Bitcoin. Those who invested at peak prices in 2021 are also almost recovering their losses, and will see profits after a few days. After Bitcoin price crosses ATH, market may give down. Bitcoin is currently at $68300 plus. No one can accurately predict the market, let's see how much Bitcoin price rises before the halving. There was indeed a massive selloff when Bitcoin hit the $69,000 former ATH yesterday. I never knew that there were these popular expectations that it would fall significantly after reaching the ATH but actually did so. I might have not believed it because there is no modality for the market to behave that way, it is not a must. Nonetheless, what I believe is for the corrective sake, Bitcoin moved so significantly and lower with an almost $12,000 drop witnessed within a few hours of yesterday. That was massive and highly unexpected by me. This is why no one should ascertain certainty about Bitcoin or any asset but always manage their portfolio accordingly. As it is now, the correction has been done so well, Bitcoin is breathing the fresh air again and we can expect it at a level above $70,000 before the end of this month. However, contrary to the advice you gave to the OP, I think it is too risky. The higher the price of an asset, the less favoured the investor could be. That is why it is good to strike the market at a low price and sell at a high price to avoid being in a disadvantaged situation. What matters the most now is a cautious approach with Bitcoin, and you can imagine the advice you gave, if the person is not careful enough, such could be at losses for long months because we do not know what the market would do for sure. For investments, as less risky as it is for HODLing, no one would make that huge return from Bitcoin at this current spot, so a cautious approach is needed even as the person manages the account properly. |
|
|
|
Is there a provision for increasing available merit every year by some amount? This is needed because new members are also joining the forum daily and thus the available merits quantity should be adjusted accordingly.
You don't seem to explain what you really want correctly, is it for individual users or the merit sources? For the merit sources, I think that two things are constantly changing behind the scenes, and they are the DT status and the merits allocations. The two are being upgraded and downgraded for users at some time, so what you might be asking is being fixed. However, do not forget that adding merits to the ones the merit sources are getting monthly doesn't and will not change the merits reaching you, the forum's current system will make sure of that, except that those who have been getting it before will get it even more. The only thing that can make a huge change is a complete overhauling of it. |
|
|
|
Although, the merit system has no perfect modality for disbursement and I've seen many users delivering the 50 merits at once to other users. Just like franky1, he enjoys doing that at once. This could be at anyone's discretion since it's flexible, yet, I love it if it is being used wisely and distributed effectively instead of wasting it on just a post while other more meaningful posts are being neglected.
I don't know if there is any method to send merit but for sending merit it must be a good quality post. There is no rule to award merit without merit. To send merit, it must be a good quality post only then merit can be given. I've also seen good quality posts get 50 or more merit majors at once. The posts I saw that sent 50 merits or more were very good quality merit posts. Here the post in which he gave merit was not given in full merit post. It is a misuse of merit. About your concern, the suspicion here is that the user who sent the merit was a dead horse that just arose again for the purpose of sending the merit. This could indeed be concerning but may not be as we thought of it at times. Regardless of how it is, it is certainly an abuse of merit sharing of the forum, especially when the post merited is not worth any merit, not to mention handing it a whole 50 merits at once. That's gross.
The matter of sending talent is accepted but not so much is accepted in any way. It makes no sense for him to send so many merits to this post. These should be noted. Misuse of merit is that they must be warned against this, not everyone can send merit like this. That is it, when there are no further rules to back fair usage but entire freedom for the usage, there will be abuse (directly or indirectly), and this abuse is mostly not provable since there are many freedoms to it. No matter how people could defend this, I still believe that it is unless the post is intriguing, so respectable and above all adds huge value to the forum itself, it's only then that it could be worth the 50 merits at a go. But I see some posts that are worth less than 2 merits attracting 50 merits at times. I mean very short posts with no serious worth of appreciation. I don't care about what users do to defend this anymore, people are sending merits based on sentiment, that's a fact and sentiment doesn't make it perfect. I'm also done thinking about the merits system of a thing, it's not worth it and it is what it is. We should all live by it (fair or not) and try to be of quality with our posts mostly for the sake of the forum and not for the merit itself. If merits come, fine, and if it doesn't come, fine. The most important thing is for your username to continue speaking of who you are, something which the merit system itself can't deny you. |
|
|
|
Let`s i answer your example.
I bet $500 with the odd 1.5 i get $750. If i make a bet i own that asset and i can mostly sell it before the result. May be cheaper, for $300 if the game is not so good as i thought, or may be higher - for $600. The same situation in trading - you have an asset that can not only grow up. The only difference, that you asset mostly costs something. And if we talk about leverage trading - there is no difference with gambling. Some moment you catch stop-loss and lose all your depo.
Someone say that trading is a science. The others say that it is just luck. The same i hear about gambling.
I quite understand your point and I must say it is constructive enough, but you are not looking at the utility and security aspects of the two. The FX and other similar financial market trading instruments (commodities e.g. Gold, energy e.g. Crude oil) and many more offer you to actually buy something. You are not buying anything when you gamble, you are only taking a direct risk at that time. Nonetheless, the risk is present in trading as well but you will not get liquidated if you plan your investment correctly, yes, we have traders who hold positions for so long. It could run for years and you still not get liquidated and continue to own the asset (and not money as in the case of gambling) electronically if your risk management and speculations are right. Is that possible in gambling? Certain No. Gambling is also time-fixed, it has its expiry time and no matter how self-deceiving you think you own the asset in gambling, there is a maximum time you can own it whether you like it or not. There is no limit to the time you can own that asset in trading but you can only lose if you take a higher risk than necessary. This is why I often advise that we should be professional in our trading, otherwise, we gamble. These two are not just the same thing even though they have a few similarities, and this similarity is what confuses people, just like you now. If some company becomes bankrupt your asset costs nothing. The same time your asset is virtual asset. If you buy gold bar for example - it would be a real asset. And if i use money management correct in gambling - i can`t lose on a distance, i tested it for more than 3 years. The difference is that you can own your asset for years, but look at cryptocurrency shitcoins - i have 5-10 of them and i can sell it anybody. I can see you are making a twist now because purchasing an asset for years was an illustration of what we do in the financial market in contrast to gambling on casinos which is what we are differentiating here. We did not relate it to the situation of liquidation of the company the way you are now driving it towards it. Don't you think that's a different ballgame as the mode of operation is different from the safety concern which is not peculiar to the financial market alone? But notwithstanding, there are still answers for them. I've lived in the trading/investment environment for years (a year to 2 decades) and I've never been swindled by a broker or been affected by a broker's insolvency to date. Anyone who is affected by this can only be considered a novice or not smart. As I always advise, it is better you carefully select the broker you would use for your investments and trading activities unless you do not have a reasonable amount of assets with them or you are just not serious about the investment. I make sure that all my brokers are truly Regulated and "Insured." This is not a child's play for me, it is a serious business. Aside from that, if you are relating the insolvency to brokerage companies, can't casinos go insolvent as well? That is why I do not see that as a valid point since it is a deviation from what we are both trying to establish which is relating to the core functions and risks of both classes of business in relation to their mode of operation. |
|
|
|
Okay whales, pump Bitcoin up! I need to make a big profit on this. And do whatever it takes to surge Shiba Inu as much as possible too. It doesn't have to be true, it just has to make me money.
Let me guess, you have a huge amount of SHIB in your arsenal, right? Lol...it doesn't work that way. Yes, Bitcoin was pumped heavily yesterday to the extent that it again hit the ATH of about $69,000 and moved almost $300 above it according to my broker's data. That was nice and expected as well judging by the way the asset had moved since the early weeks of 2024. But about your reference to SHIB, you should not put so much expectation on that, it never works directly and what you are looking towards is a correction but SHIB and Bitcoin are not so correcting the way PEPE for example is correlating with it. Though not so highly but to a reasonably better extent than that of SHIB. You may judge by what happened between September 2023 to January 2024 to know what I am saying about Bitcoin and SHIB's correlation, nothing spectacular happened to SHIB during that time. But when it got to February and the first days in March, SHIB and all other important meme coins moved strongly upward, and if I am correct, the least moved x4. That's how it happens in crypto world, it is their own time (meme), and all coin classes have their time. It could be the time of AIs today and the time of DeFi and Infstracture the next day. For this, do not think it is the automatic time of meme coins like SHIB when Bitcoin rises, the correlation is not worth it for the two crypto assets. |
|
|
|
If you panic, you lose.
But if you stay calm and you have it planned and don't have to be hysterical, you're in good hands. You know the diamond hands are for real on this situation of the market.
Right but most of people's carried losses only to panic sell if when see market is going down and can't control their mind but also it's true that very hard to stay calm to keep holding a coin for long time, is someone had extra money who can keep it invest in long term but not possible to everyone. Then you should opt for holding rather than trading. A lot is happening in the market and if you are not such that is deeply rooted in it to know what is actually happening, panic may set in, and before you know it, you might have made decisions that you will regret. Trading is technical, that's why we should be technical with it as well, we should always learn the behaviour of the market in every situation we see, so that we can be appropriate and not base our decisions on emotion or our instinct. The two had made me lost/missed bitterly in the past as the case may be, but now, I give the decision-making power entirely to my trading chart and not what I feel would happen or how I feel it would happen. As traders, we should learn and know the difference between the trend, the retracement/correction, the range, the channelling/sideways market and so on. In every one of these conditions, any trader can make a mistake, but if we are well-informed, clever and patient with our analysis and decision-making, we will surely get to know what the market is actually resorting to doing instead of liquidating when we should not. Also, the use of stop loss is good to avoid mistakes like this and this must be smartly placed after enough analysis to avoid mistakes. |
|
|
|
With the current increase of Bitcoin prices, we already have seen the last ATH finally reached. This allows people who already bought Bitcoin at prices around $50k and above to breathe a sigh of relief because they have earned or seen the profits starting to come. But how many of them are still holding their Bitcoin today?
Just a suggestion: don't be greedy in wanting profits. Otherwise, you will be late selling the Bitcoin.
With the current price of Bitcoin we haven't seen the last ATH reached, we're closed to the last ATH but it hasn't happened yet. The last ATH was $69,000 and some exchanges saw $70,000 this is what I saw from my research and also when I see other people writing. Trading Bitcoin isn't what will give you big profits or make you get the best profits from Bitcoin. Holding Bitcoin is better than trading it and if you wanted to trade Bitcoin it shouldn't be now that we're expecting a new all time high. Don't take profits when the market is in an uptrend. Bitcoin will get a correction but it won't last because everybody knows that a new all time high isn't far away therefore they're accumulating Bitcoin. The way Bitcoin has been moving dangerously higher since it completed the correction orchestrated by the hype surrounding the ETF saga of late last year shows that the ATH is a piece of cake to it. It was only a matter of time to hit it, and now, in just two days after your post, the coin had hit the level which is around actually around $69,000, and not $70,000. The $70,000 is now the next level being eyed by the coin, and I believe that it should be able to hit it before the end of this week. And yes, you are right, it is plain, due to the high price of Bitcoin, it's now dangerous for anyone to believe that it can give them a huge income when they invest in it by buying and holding only. I believe that time is gone. But one can still leverage futures trading to make money from Bitcoin. The best approach in this regard is to take a clear shot at a very good level, which is preferably above a support level and also when price action has given the Go as well. Many would make multiples of what they would have made through the holding of Bitcoin with this style. That's what I resolve to use even as I still have the Bitcoin I purchased at lower levels. |
|
|
|
Bitcoin touched new ATH in 2024 of around $69000. There is fear in some investors that there can be a big correction from here. But, there are many investors who are still investing in bitcoin even if the prices are near ATH. What is your one primary reason to keep investing in BTC even at these levels.
I am doing this because I am positive with the ETF news. It is resulting in major adoption to users who were earlier reluctant to invest in bitcoins.
You guys should just stop the hype of the ETF of a thing, it has helped during the rumour time of last year till now, but where is it helping again in terms of implementation? Bitcoin has always been accessible by everyone, so the demand and supply of the cryptocurrency happening without the much involvement of the ETF. It is all about everybody and every means of injecting and removing money now (demand/supply and market sentiment which is strongly bullish). The ETF is never the one causing all this but the mood of Bitcoin's halving tradition that brought about the FOMO in its pre-halving season. To me, it is happening this way and early enough because people have read enough about Bitcoin and do not want to miss out, so what they could have waited for during the post-halving period is being done before the halving. The psychology of people towards the market can be so funny, and the psychology of the market toward the behaviour of people can be funnier which is what is causing what we see now. More would happen, but at this level, I can't invest directly in Bitcoin but continue to trade in on the futures market as usual. I can't possibly make much when committing my money to it in my wallet account. The ATH has been hit already and I appreciate those who had the good foresight that it would sell on hitting that level. That was what the coin did and had moved over $4,000 after reaching the level, and it dumped so fast as well. All I can say is that a lot of pending orders were at that level because we all know that it would sell a bit to retrace, before going higher again to even hit it again and break it. |
|
|
|
In last one week, coins like pepe rose by 400% or more. There were other meme coins like dogecoin and shiba inu also growing fast. Lot of bitcoin users would now feel tempted to move their funds to these meme coins for higher profit. At such, do you think that any meme coin has the capacity to challenge bitcoin dominance ?
To replace Bitcoin? This question is not just thoughtfully asked. Bitcoin and meme coins are not just in the same class, and as we all know meme coins are for the representation and fun of it, so why would something as unserious as that replace Bitcoin? Bitcoin is the number one cryptocurrency and has good relevance due to that, and whatever positive thing you are hearing in the cryptocurrency space, Bitcoin leads it and keeps moving the industry forward. A typical example is the ETF of late. Fine, Bitcoin is heavy, it may not move as hugely as meme coins when it comes to the multiple times it could count the income for the investors' return, but don't also forget that it had done that before when it was still very small in price, so let's give it to it. Now, Bitcoin may not move in that multiples to deliver the income, but meme coins cannot also reach the huge importance and dominate of Bitcoin, not to mention the huge liquidity of its market capitalizations. Billions are being pumped to Bitcoin as if it were nothing while a few million are being pumped to meme coins. And when it comes to the relevance and what the big guys and institutional investors and traders want to deal with, it's all Bitcoin. So I do not know where the challenge from meme coins is coming from, they are even far from it, you could be talking about Ethereum to make a more valid point even as Ethereum is still far from Bitcoin in terms of dominance and relevance in the industry. |
|
|
|
I don't know about AltCoins as at 2021 when bitcoin bull run based on an Ath of $6,900 at 2021 and if bitcoin volatility keep appreciating as it has been so amazing in increments as it has been accelerating in couple of days now especially today, then only this halving season alone would surpass the past 2021 bull run.
So due to my interests now in AltCoins, I needed to know if the AltCoins ATH Is also surpassing it's past Ath in this halving season.
Altcoin has been around since 2011 and the first was Namecoin which has never been as relevant as the many others that were created after it, including Litecoin which happens to be the second altcoin created. They've been a worthy investment and a good rival to Bitcoin in terms of earning opportunities. Most of them are even providing the earning benefits better than Bitcoin which makes it even more interesting. But there are downsides as well, you have to choose the altcoins to invest your money in wisely so that you are not scammed and so that you do not fall victim to a huge pump and dump that are often as fast as possible due to the market manipulations. Also, you should know that most altcoins will never hit their ATH again, just don't doubt this. And it is partly because hundreds of new altcoins have been created for years, so the liquidity in the crypto market is being dragged within them. This will not make the old altcoins attract as much liquidity as they did in the last bull run. I can only advise you to choose the right ones and also use the higher time frame of their charts to know when they would start reversing for you to liquidate them to avoid losses. So, perish the belief that they will hit their ATH again so that it will not blind your decision. Of course, some altcoins would do that, but certainly, most of them would not, and I think that less than 3% of them would possibly hit their ATH again. |
|
|
|
-snip-
But what do you think of the tokens guys?
I view the tokens of exchanges as their stocks because many do not bother to be listed on any stock platform. For this, these token are their security, and people's investment and the news of the company (good or bad) would mostly be the determinants of the status of the tokens. Also, everything happening in the crypto space will surely impact these tokens in a way. The impact may not be huge, but still, it will happen as we are seeing now in the market. It takes either huge news happening to the exchange to cause a huge impact on the token, just like what happened when Binance and CZ were indicted with money laundering last year and over $4B fine was slammed on Binance. You can see how BNB dropped so much within a few days. The same thing could have happened in the opposite manner if it was good news. This is why we should only buy the tokens of the exchanges we have huge trust in, especially the top-rated ones, and not those ones who are still fighting for relevance or have questionable characters. Also, the bigger the event that can affect the crypto space, the bigger the effect could be on these tokens as well. As we see in recent months, for instance, all crypto assets have been bullish, so almost all exchanges' tokens would buy significantly too, if not all. So, this is the right time to purchase the token of exchanges even as we move closer to the post-halving period and also the altcoins season where huge returns are always achieved |
|
|
|
My question now is what exactly sponsors the untold hardship in the life of an average Nigerian
There is a reason why we have the Naija local board on the forum, and it is partly to discourse something like this which ish actually local nad not bore the foreign readers that are not witnessing what you explained. So, it will be good if you can tell a moderator to move it for you. Nigeria was a giant of Africa in the past and if it was wisely managed, it should be one of the best countries in the world. But for bad leadership and the wrong country's system of government, it is where it is today. You can imagine how former president Buhari and the former central bank's governor, in the person of Emefile, due to bad policies and insensitivity put the country into this untold hardship. It has gotten to the point that people are now frustrated to the point of intercepting and looting trucks conveying food and also burgling warehouses that contain food. The poor are really angry and even the rich and average are feeling the heat so much. However, it got to this level during the administration of President Tinubu because he was also insensitive. I wonder what cursed Nigeria to be unlucky with presidents. Although Tinubu is not the originator, he should have been better smart in removing the fuel subsidy, and he should not have initiated the dollar unification of the official and the parallel markets. These, and also the closure of borders are the main reasons why the economic hardship is this bitting. We should all brace for the worst, this is not a curse, it is just a speculation because it is until we have hope that we can be hopeful. Where is the hope yet? |
|
|
|
As for me - gambling and trading looks the same. If you have big deposit - you can choose small odds is sport betting and get good profit with small risk, the same like in trading. Of course you can lose all in gambling if you bet all sum in one bet, but it is silly. The same situation if you buy BTC with big leverage.
Use money management and you will get profit as result. Of course i don`t talk about casino games - it is total random and i don`t interest in such gambling.
I respect people's opinions so much, but in most cases, they do not have constructive arguments to back it up, just like yours now. Trading and gambling are not the same and will never be the same because trading is a business and doesn't require a fix outcome like gambling, it's so flexible. Though it is a risky business, can you call gambling a business? The electronic enabality of trading is what causes people to make mistakes of it and the way some bad traders gamble with their trading makes it look alike in a way. But if you would trade as a real and professional trader with the right understanding of it, then you can never link trading to gambling or gamble with your trades. Okay, let me try to explain this in the best way I can to make you understand the fundamentals of it and not the complex way as people and technology make it look. The simplest ideology about trading is likened to a person who purchased an asset at $500, for example. The value/price of that asset will of course fluctuate due to the prevailing market conditions even as demand and supply always play their roles. For this, the value can be adjusted a little or significantly lower or higher than the $500. This means that at times, the price of the asset could be $750 or more/less ( if the asset appreciates in value), also, it could be $350 or more/less (if the asset depreciates in value). Now, if the person speculated wrongly during the time of purchase to buy a costly asset and again impatient due to fear or whatever reason sold the asset at $350 value. That means the person had lost $150 of his money. In the opposite view, if the person was lucky to have bought the asset cheap and it even appreciated afterwards and even sold it at $750. That means the person gains. This is how the trading works, you actually buy and own that asset, and your fate depends on how it appreciates or depreciates and the actual time to sold it, unlike in gambling. Just like we buy and own physical assets all the time, it's the same as what I just narrated. Some assets will be bought and get devalued when we now them, while others will be bought and appreciated after buying them. If you now make them a business, then you are trading, just the same way it is in electronic trading. It is only when you handle it carelessly (buy when you should sell, or sell when you should buy) that you are gambling, which is not the ethic of the trading itself. Let`s i answer your example. I bet $500 with the odd 1.5 i get $750. If i make a bet i own that asset and i can mostly sell it before the result. May be cheaper, for $300 if the game is not so good as i thought, or may be higher - for $600. The same situation in trading - you have an asset that can not only grow up. The only difference, that you asset mostly costs something. And if we talk about leverage trading - there is no difference with gambling. Some moment you catch stop-loss and lose all your depo. Someone say that trading is a science. The others say that it is just luck. The same i hear about gambling. I quite understand your point and I must say it is constructive enough, but you are not looking at the utility and security aspects of the two. The FX and other similar financial market trading instruments (commodities e.g. Gold, energy e.g. Crude oil) and many more offer you to actually buy something. You are not buying anything when you gamble, you are only taking a direct risk at that time. Nonetheless, the risk is present in trading as well but you will not get liquidated if you plan your investment correctly, yes, we have traders who hold positions for so long. It could run for years and you still not get liquidated and continue to own the asset (and not money as in the case of gambling) electronically if your risk management and speculations are right. Is that possible in gambling? Certain No. Gambling is also time-fixed, it has its expiry time and no matter how self-deceiving you think you own the asset in gambling, there is a maximum time you can own it whether you like it or not. There is no limit to the time you can own that asset in trading but you can only lose if you take a higher risk than necessary. This is why I often advise that we should be professional in our trading, otherwise, we gamble. These two are not just the same thing even though they have a few similarities, and this similarity is what confuses people, just like you now. |
|
|
|
Today bitcoin started the week reaching at $65,000 a near former all time high price, and this new stabilized bitcoin 65k price indices make alot of presumptions and many bitcoin price speculators are in bullish mode to state an obviously possible reality that bitcoin may break the former all time high price (ATH) of $69,000+ previous record before the bitcoin halving cycle to occure.
Although if bitcoin make a new all time high before the next bitcoin halving, it makes it the second time in bitcoin history and chart 📉📈 where bitcoin attain all time high prior few days to the next halving.
The question now is, are we going to see that happening very soon and what is you expected benchmark before the next halving cycle.
What I can say here is that the market is purely dancing to the decisions of speculators, that's the psychology of it in a situation like this. Initially, in 2023, the mood of the year next to halving was the cause of the market's initial excitement in my opinion. This often brings FOMO, so that people will not miss the opportunity of striking the market from a low level. This however initiated bullish candlesticks on the yearly chart in 2023 and the subsequent bullish price action on the monthly chart helped further. Still, Bitcoin wouldn't have achieved this great performance if not for the ETF fillings that brought about high FOMO in the market and helped Bitcoin to breach important resistance levels on virtually all trading strategies on the higher timeframes. This later causes the market to be bullish in the long-term trend. In this condition, any bearish movements can only be interpreted as a retracement/correction of the long-term disposition. This would get to a point where the whole sentiment of the market would be extremely bullish and volatility would set in. This is what is happening now in Bitcoin. Above all, this reaction is speculative rather than being initiated by any economic factor like ETF. But of course, the halving expectation is one of the reasons why sentiment remains positive now. This is called the pre-halving effect and it happens depending on the long-term trend of the market, which is bullish in bullish in the case of Bitcoin. |
|
|
|
Is this the beginning of the end for the Crypto Casino? As Michael Saylor predicted this day would come sooner or later.
Thank God I don't but if I had any money in altcoins I would dump them all immediately for Bitcoin because this ruling may lead to a market crash. .
I wouldn't be caught dead playing around with any altcoin, especially not now.
You do not need a soothsayer to tell you that crypto assets are stores of value, utility and security. Many are only making their own versions of interpretations and that is why such cases are being dragged to the court to ascertain what they truly are. But for me, there is no mistake here, unless maybe some people do not want to accept some facts whether because of their love for crypto or for their hate for it, but indeed, cryptocurrency as a whole has all the qualities/characteristics posted above. Regardless, it is time for the world government to know that the world is revolving, so it is no longer the time that we believe that securities can't be used one way or the other. Cryptocurrency is beyond what can be restricted to a single function, and as an asset, let it do whatever it is capable of doing without intimidation. Are they not using securities to settle transactions and debts, especially bonds? Is that not a form of payment? So, I simply do not know what the so-called Michael Saylor is driving towards. Many people will just be running their mouths without even knowing anything. |
|
|
|
|
Show Posts
