Trading does involve the emotions but calling it a complete mind game is not correct in my opinion. You can say that trading needs skills and luck and you would not be profiting of you were only making predictions based on your gut feeling. The gambling aspect of it comes from the fact that you might get addicted to it and there are non-Spot modes of trading that are very risky.

If you can keep track of how to trade, mainly buy low sell high, you shouldn not get into trouble. That too if you are keeping a ledger and following your sells with your buys.

Just don't trade only based on emotions, see the charts and previous trends and then decide what trade to place.

Indeed many shitcoins have just been methods to gamble instead of supporting a project which can lead to some new innovations. The onwere release the coin as a method to make quick money off the pockets of enthusiastic newbies while the advisory committee gets its cut from the company in cash or kind. Then the onwards run the vaporware for a fixed period of months before they dump on the crazy investors and then run away without a trace.

Even worse are the HYIP/ MLM scams which dont even do this but only spread the name and get people to buy it while nothing is actually happening in the background.

Holding is easy but often requires patience which is lacking in most people. Those who can continue to be patient will be profiting because this is a long term game done once a while. Day trading is a short term game but requires multiple trades. There are people who are just holding but that can become monotonous for many people, newbies might not get the interest to trade if they only hold. Hence the logical approach is to keep a part of the money for long term holding and no trading while another part for trading as soon as prices rise and buying back at the low.

Eventually trading becomes more streamlined for everyone who attempts it. But risks are always there.

Dummy trading is what I suggest to immediate newbies. That helps them learn without losing money if done honestly and meticulously.

Of course crypto gives its owners the opportunity to earn big. This only differs on how the people seize the opportunities and not lament about losses or missed stuff. Attempt to seize the price now and buy will eventually lead to a bigger price to sell in future but dont cry over the price when you chose not to buy and missed the selling opportunity at the next all-time-high. Celebs only come here to pump their bags, they have literally zero care for any project.

True indeed, the beauty of how bitcoin has been created, it does not separate you from other people but accepts you as an investor even at the minimum amount bought. Indeed you can just buy any amount whenever and whichever price you wish to, no questions asked. But to know how to keep your coins secure you need to have some basic security knowledge and about wallet software available.

What people go wrong with is buying shitcoins and going for get-rich-quick schemes where there will be big showy pages but zero returns infact you will get scammed. So those things dont come under bitcoin investing, rather it is only the spot trading of bitcoin.

Banks are developing blockchain technology to use it in different services but these are not related to bitcoin. Bitcoin does solve the problem that inflation has shown and also how we can easily send and receive money in decentralized censorship-resistant manner. Banks were also not that complicated at one time, just that the trust factor always needs to modified to avoid and work through the different illegal things that humans come up with.

Overall bitcoin has been a tech for the future and it will exist alongside fiat.

That is a bad decision.

Investing responsibly needs you to have a stable income source, usually a job that keeps your wallets refilled every month with salary and then on top of that you put in your side hustles and investments where you earn "extras" which are non-stable but happening every now and then.

Trading in bitcoin with profit is usually a long term thing, like buying today at 27k you will have to sell at the next all time high, which might take 6months, so during this dry period, how do you expect to feed yourself? - that is the practical question, now if you have given up your job then you will die of starvation considering you dont have any other source to get money.

So you need to balance both, long term bitcoin trading and a stable job at hand. Under no circumstances, will trading bitcoin replace the other, otherwise everyone would be trading coins and stocks and not working their asses off at their offices.

The quick rich attitude always fails in every aspect of life, not just investing in cryptocurrency.

While there are people who are inattentive and attention deficit, there are these people investing and in many aspects they are similar. One can go to coinmarketcap and see which coin has the maximum percentage rise in the last 24hours and they will obviously find some shitcoin that they never heard of existed.

Such coins are a huge manhole to step in, because they are essentially being pumped and going to dumped, waiting for small fries to get their hands on them.

It is just like money, but that we tend to become more lenient towards members on this forum because most of us are from the middle-class background and we all are trying to earn money more than what the average joe does.

We must not forget that we have to keep our investments safe and for doing so privacy regarding investments is a must, always speak less about what you actually own and try not to disclose numbers. Remember that the person whom you are dealing with is not always a benevolent one.

You dont give your bank account details to stranger do you? Same goes with bitcoin.

I appreciate your efforts in trying to make crypto popular.

However the common audience in tiktok and other social media channels are the younger generation who has less money making attitude and more of a get-rich-quick attitude. The diligent investors are not going to visit these channels to waste their time rather use that for their own education, career development and personal finance, including own crypto investment.

Be sure to put crypto in an unbiased light here, showing its pros and cons and why it is not a get-rich-quick scheme. But the problem of this approach is that you will lose viewers because the people lost interest. Instead of you take the path of lies, showing off your gains and promoting shitcoins, more people will come in because you just promoted their "bubble" of thought of easy money. That is how influencers who spam these stuff work and make money.

We all want the altcoins that we choose to increase and hence the hope for a altcoin season to start. However this is long from reality because nobody can predict these things from beforehand and we can only wait and watch. Specific altcoins going up might be due to news pertaining to that project only while overall market price rise will be due to bigger positive news that makes bitcoin rise first followed by altcoins.

Season or no season, your approach here should be to accumulate bitcoin as much as possible and whenever possible, altcoins only as a smaller part of the portfolio not as an alternative to bitcoin because of its high price/btc.

It has come beyond that part of "pyramid scheme" and has been accepted by many mainstream sections in this world. Problem is the grey-area stance from many governments and apparently a resistant attitude from some governments. They dont want the banking system to stop, but thing is that these two systems can work together and I feel that is what is gradually happening as people get the freedom to choose which one they want as per their need.

Let the negative people remain negative, your logic should be evidence based and clear, not based on hearsay or assumptions. With that bitcoin is defenitely a step ahead in future.

This comes from the project owners , usually they do with their own profits in mind. They will dump on the investors so they can cashout at big consolidated amount and then abandon the project, eventually. It is how these newly launched altcoins work. They are scamming, but in a manner in which the investors never understand. I might be proven wrong, but that is what I have been observing for the last few years.

If you think the project is legit, give it a 2year period for observation before you buy in it. Usually the scams/rugpulls/shitcoins get abandoned by then and thus you will keep your money safe.

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Sorry to break you bubble mate.

Spot trading is an EV+ gambling. Futures, Leverage and others are all EV- gambling. This should be made clear.

Winning is only if you predict the correct movement. There need not be money involved directly, you could be dummy trading as well. I dont equate green numbers as winning here. Rather it is a question of whether you are in a total profit or not.

The weak hands will lose the money they invested if they sell at a loss. If they are cunning they will hold it for long enough to watch it cross the break even and then sell. It is all a matter of patience here, along with all what OP has written.

Crypto is a general term, it is more often used synonymous with cryptocurrency but can also apply to cryptography, but in this forum we are more interested in the first one.

The best coin is no doubt bitcoin. But I want to question the source of this query, because I have seen this pop up every other day I visit the forum and even after being repeated by countless older members of this forum, newbies keep asking the same thing.

I understand that altcoins are "attractive/glossy/easy-to-get" while bitcoin is "older/wornout/difficult-to-get"
<compared to women, pardon my offensive sense of humor.

But truth is that what is difficult to get gives more fruit than those quick one night stands.

They have not made a profound impact on this ecosystem. They have only made methods to lose money more easily accessible to common people, sarcastically speaking. If DeFi did what it was supposed to do it would have changed the economy with big impact. Maybe I am being hurried and I am willing to be seen proven wrong. But I feel that what bitcoin has already done, cannot be paralleled by any other system as of now.

Speaking of PEPE, apart from clogging the mempool and raising the bitcoin fees, which irritates me since I have some transactions pending, they have not done anything good for us old timers. Lets see if they actually change how we handle money or not.

Reading the charts and then investing according to price changes yields the maximum benefits. I think the reason these memes have become popular is because most people consider crypto a joke and not something serious. On the other hand this meme-culture was not prevalent during the days when stocks were the main speculative market. Although Economy related newspapers did put up Dilbert and other comic strips for a rib-tickle.

Invest in those coins that you have a good historical knowledge of and know that they are not going to go bankrupt tomorrow. If you invest in the shitcoins coming up everyday then these memes predicting "crypto is a lie" comes out as reality. Same could be said for many stocks but lets not talk about that.

So far it has least involved people who have been using crypto in the legal lines and not for criminal stuff. It is best if it stays this way and other countries also follow suit. We dont want so many crypot users all of a sudden coming to a stalemate and then being unable to use their hard earned money. As we progress in civilization crypto is a game changer and a currency that needs more adoption and acceptance.

Therefore governments will try to allow it with restrictions and gradually change them as per their taxation systems. But we can be hopeful that this will be for the good and not bad, because governments are diplomatic.

These analysis are mostly for the short term and if we avoid that we can still be profiting in the long term. Because these are not exactly science, the analysis are correct 50% of the time. Thus you decisions should not base on the analysis only because it is only correct half the time, but also on the news the market fear and greed indices etc.

Overall, newbies should understand that the speculation drives the market and that the immediate effect is only visible on short term. The effect normalizes in the long term and thus they should focus more on that.

I dont see these as negative influence, a rather strong word to say and things which are also applicable to fiat.

I understand that these phrases are coming from users who are newly exposed to crypto and observing things related to it while making comparisons with fiat.

No-refundable - A good deterrent to careless spending and being alert when sending money. You will think twice before sending money to a random stranger and also reduces beggers from getting the easy change off daily passengers. Imagine beggers with QR codes on the road, they will get ignored by everyone.

Privacy - is important but not completely possible because we do use centralized exchanges and buy gift cards on online sites which log our IPs and all.

Hackers - they are everywhere, in this century basic cybersecurity measures should be learnt by every user. It is a necessity and they are enough to keep you safe.

Price changes - I urge you to check the yearly volatility of bitcoin, it remains under 15%.