Some folks despite the visible positive impacts of cryptocurrencies and reviews from Jack Dorsey, Elon Musk, Michael Saylor and other popular crypto advocates have refused to change their stance on it. They don't just oppose Bitcoin or other cryptocurrencies but they wish it would die. For example, Buttcoin is a reddit forum where Bitcoin is "crucified" daily. In that forum, Bitcoin has been called "a scam", "a negative sum game". Also, David Gerald who is an anti-crypto activist has publicly cleared his hatred for cryptocurrencies and blockchain technology. According to him, “I think the future of cryptocurrencies is that it will become increasingly regulated and normalised. People want regulation of this because they want to know where they stand and what they can do with this sort of thing. I think that speaking technically they are junk-quality assets. They are not backed by anything they are volatile as hell. They have a price because people will pay for them and that’s all.”
My Questions now are, Why do some people hate cryptocurrency so much? What's their back story? Did they ever lose a huge amount of money in cryptocurrency?
You will find two kind of haters over here. One of them invested when the price was high and sold when the price was low, thus incurring a loss. Others are the one that hate bitcoin because they didn't invest when they had the opportunity to. They think the price is now high, its too late and they lost the opportunity. Hence, all they do now is hate crypto currencies with passion. People that call bitcoin scam, don't know how it works. If they educate themselves about crypto currencies even a little, they might change their opinion. But they don't bother doing that. Too much work for them. Easier to call it a scam. |
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First of all, it would be not a wise idea to start investing when the price has pumped. But unfortunately this is what most people do due to FOMO. They start investing when the price starts to increase and sell when the price has dipped. Sadly you can't tell people to delete emotion from their life when trading. It's impossible. Emotions will have an affect to your trading. You will just have to learn a way to make sure your emotions don't affect your trades. This can be done through practices and acceptance.
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I plan to create a new altcoin. What features do you like for it? Some ideas I have:
-snip-
Bunch of things that you mentioned over here is already offered by some other coins. You are just trying to create a "All in one" coin, which isn't ideal at all. I doubt your project would survive. You need to make something very unique. You need to have use cases that none other coins have. Maybe come up with a new mining algorithm that is far superior than the ones we have now without comprising any security and keeping it decentralized? And it's impossible to distribute your coin to each and every person in the earth. |
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This is applicable for all kind of investment. Not just investment, in every aspect of life. You need to be patient. There is no alternative. You invested, you have to wait. Only those who lose patience and sell are the ones losing money. To be honest, we can't blame them too. They have been hearing about "how people got rich overnight" investing in crypto currencies. They want that same thing to happen to them. Little do they know that they invested in shitcoins and just got lucky, while thousands of others lost everything.
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The suggestions that you provided are easy to give, but hard to follow. Few of them sounds wrong too. I am against following YouTube videos. If you are new to the market, you should never do that. Most of those people just shill for shitcoins or the coins they have invested in. They get paid for it. Watching the market trend also doesn't help. The crypto market is very unpredictable. Sometimes the exact opposite of what you think might happen. The only way to protect yourself from volatility is through long term holding.
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I don't think I have ever bought a shit coin. And if I do ever make a mistake, I learn from it real fast and try my best to avoid it. I am kind of a person who hates making mistakes lol. So if I make one, you can be sure I won't be repeating the mistake again lol. The only way you can understand that you are making a repeating mistakes is if you see advancement/improvement in your work. The only way to stop this is to admit the mistake, learn from it and NOT repeat it.
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The recent hype about Amazon going to accept bitcoin was already proved to be a rumor. Amazon made a statement saying that they aren't planning to accept bitcoin anytime soon. The rumors were being spread to create FOMO, but it didn't work fortunately. Tesla willing to accept bitcoin again isn't any news. Not sure about Apple. Does Apple even talk about crypto currencies? Anyway, yeah, the more popular bitcoin is, the more demand there will for bitcoin. And since bitcoin has limited supply, the price is bound to increase with the demand.
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I became bored with the games that are not restricted in my country and am tired of playing the same games on few nonrestrictive sites, am aware of some gambling site that allow the use of vpn but am afraid of getting my account ban, as some of those sites have zero regards for users using vpn to access they site.
so am wondering if there are gambling platforms that publicly allow the use of vpn with no hidden penalties?
If the casino have country restrictions and you are using a VPN to bypass the restriction, then highly likely you will be breaking their terms of service. You maybe able to keep on playing, but if the casino asks for verification, you won't be able to pass it. They will then have the right to close your account and confiscate all your funds. But usually the casino allows you to keep your deposits if you are in profit, but won't let you keep the rest. |
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Many companies are also considering allowing their employees to choose to receive partial or full compensation in the form of cryptocurrency. If you can get paid through cryptocurrency, which one would you choose? If the boss pays in Bitcoin, would you want it? Or you continue to prefer to pay in fiat currency to facilitate the purchase of tokens you like.
Do you think cryptocurrency payment will be a new trend in the future?
I would still prefer fiat currency. You know you can't pay your bills using crypto currencies. And what if you get paid in a non stable coin and the next day the market crashes really bad? We have seen the price of crypto currencies go down more than 20% in just few days. You will be in trouble then. Then there is those transaction fees which sometimes end up being very absurd. Get paid in fiat, buy crypto with fiat  . |
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Chart seems very horrible. even past days all the alts performed very well. but safemoon not done.
please explain safemoon is shit coin?
Yes, its a shitcoin made for pumping and dumping. If you invest over here, highly likely you will lose everything. So do it on your own risk. Coins like this will never recover. You know its a shitcoin when you head over to reddit and see literally bunch of idiots posting and shilling for safemoon everywhere. And also don't fall for the shitty "upcoming updates that will take safemoon to the moon". |
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I am investing Bitcoin today even if the price is still very high and risky. I still believe in some speculation that btc will rise up to 100k$ before the year 2021 end, that is why I buy some Bitcoin and hold it till the price reach up to 100k$ may I know what are you thinking this time is it a Time to buy or hold or what ?
Look at the charts first and see how it has been since the beginning. You will see that in the long term, you are still making profit. If you hoping to make quick short term profit, then its going to be risky for you. If you wish to hold a year or two, then the risk is little less over here. Just remember, if you can afford to lose, then don't wait. Just invest. One thing though, if you are going to invest because you think the price is going to reach $100k by the end of the month, then don't. |
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When you spend money constantly in bits, it is normal that you may not be able to keep track of the amount you have spent on something say gambling or alcohol. If a financial record or something like a register is shown to you having the total amount you've spent on a habit, you may be surprised the total amount you see.
As a way to keep track, would you like to receive regular, maybe weekly or monthly financial statements highlighting wins and losses from a gambling site?
Can you share your thoughts please?
Why would they need that? Most of the casinos already allow you to see your profit, loss and wagered amount through just few clicks. You can see how much profit you have made since you registered or the last 30 days. I am sure you can also send the casino an email requesting data for the last 7 days. It would be just a waste of time and resource to send each and every user their "weekly/monthly" financial statements. |
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the primary role of government is to provide a regulatory framework in an economy, Government sole responsibility is to provide a guideline on how thing are to be done within their jurisdictions.
this is not different with cryptocurrency although cryptocurrency is created with high anonymous the truth remains that cryptocurrency co-exist with other factors in the economy such as the bank and the traditional currencies, for crypto to become a full flesh currency it need to under go government regulation because that is the only way cryptocurrency will be considered a legal currency.
questions:
will will government regulations on cryptocurrencies undermined crypto decentralized nature?
So you are saying that if crypto currencies go under the control of the government, then its going to become legal? Well its not going to happen. Most of the crypto currencies are decentralized. If the government starts controlling those networks, it will lose its decentralized nature. But, you are correct over here. As long as there are no regulatory framework, its going to be hard for the government to make it a legal tender of their country. Based on all the policies that are being slowly pushed by the government, the regulations of crypto currencies are inevitable. Eventually, if not directly, the government will have indirect control of it. |
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It's easy to enter with good entry point but the challanging thing is taking profit before a retracement and most of the times this retracement could be a beginning of a new trend changing a winning trade to loss. And in situations where the trader fails to apply stop loss there could be chances of blowing off ones account. A profit taken is better than a loss made no matter how small accumulation of smalls makes a mighty bulk.
Have you considered taking profits of $1-3$ repeatedly throughout a trading session it might sound small for professional traders but it would go along way in growing an account most especially for beginners. If a trader cultivate the habbit of taking profit during trading he would have an upper hand over the market and also get clearer pictures of better entry points and also be on alert on when to exit especially during retracement.
Yeah, I don't think its worth the effort you will be putting to take $1-$3 profit. Sure, it might stack up to some good amount if you keep on doing it, but don't you think it would be better utilization of your time if you do something more productive that will be giving you better profit? As long as you are not selling when you haven't reached your profit goal, everything is fine! Keep holding. In the long run it will pay off. |
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many of us are aware that sometimes the coins that have recently gone up are quite drastic, even though we have made quite significant profits, but still hope that in the future it will rise more than the coins btt, doge and others rose from the golden age they have peaked now.
if that happens how long do you have to wait 2 years, 3 years, 5 years or...?
while new coins are popping up all the time, still waiting for him to peak again?
Bitcoin and altcoins aren't the same. Different altcoins provide different use cases and features. Most people invest in those coins because they want to make quick profit. If the project or the coin has good development and community, highly likely the project will succeed, causing the price to go up. Hence people hold those altcoin hoping to make some good profit. Once they make the profit, most of them go back to bitcoin. This is how the market usually works (and why you will be seeing that when the price of bitcoin is bullish, altcoins don't seem to have the same bull run). |
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Sure. It's not a bad idea. You are investing in bitcoin, which will highly likely give you a good profit in the long run as long as you don't sell until you have reached your profit goal. If it was some other altcoins, it would have been very risky to put all your money on those coins. But you may also try investing like more than 80% of your coins on bitcoin while investing rest on top altcoins. That investment "plan" works only for really young people or for not so smart
Lol, why is not a "not so smart" plan? Are you saying young people are dumb? |
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wise choice. After all, we can't be completely separated from the bank because all the ease of transactions and its very wide adoption make our lives easier. on the other hand, bitcoin is still limited in its use at this time, especially in many countries that prohibit its use as a means of payment, even though its other functions as an investment tool and trading commodity have been granted permission.
so please adjust it according to our individual needs, we don't have to choose one, right? just use both to maximize the function of each other.
True, we don't have to choose only one, but if we keep on depending on fiat, bitcoin or cryptocurrencies won't be able to go mainstream. And who told you bitcoin is illegal in many countries? As far as I know only few selected countries have made bitcoin illegal (most of them are third world country with corrupted governments), while rest are welcome the modern currency. Bank charges are high, compare to that of Bitcoin, and also Bitcoin operates on an decentralized system. No organization or Government control's it. When you keep your money in Banks, no interest is added to it, instead, banks collects their charges from the money. I also prefer Bitcoin. Is very secure, and also have low fees.
Lol, have you looked at the fees when the network is under heavy traffic? It's insane. Pay high fee or wait forever for a confirmation. |
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I doubt many people buy crypto currencies because of their use cases or giving people the power or because it's decentralized. Most of them invest in crypto currencies to make short and long term profit. Once they reach their profit goal, they are going to go back to fiat. Sadly this is the truth. As long as people keep on depending on fiat currencies for everything, crypto currencies won't be able to replace them. At best we will be seeing both of the currencies being used side by side. Even if fiat gets replaced, it will be by some centralized currency.
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Bitcoin is now rising, and it has jumped by 3k in less than 10 minutes. Although everyone is happy but also worried, is it going to fall again?
My friend asked if I can continue to buy it? But I see a lot of people commenting that giant whales are now controlling the market. I told my friends not to enter the market for now, but my friends seem to have misunderstood me.
Do you think that this kind of market should be forbidden to enter or continue to buy?
I suggest not to panic selling。
Does your friend know about all the risks associated with investment in bitcoin? If yes, then yeah, tell him to invest. If he can afford, why wait for the price to crash? You don't know if the price is going to crash or not. There were people who wanted to invest in bitcoin when it went as low as $29,000 USD, but they didn't because they thought it would go even lower to almost $25,000 USD. Did it happen? Nope. They just missed their chance to make some nice profit. If you think it will go lower, then just invest a little now. When it goes down, invest more. |
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Lol, you are waiting for the price to drop down by 80% to 90%? Lol, then keep waiting. It probably won't be happening. I highly doubt the value of top and well developed coins will go down a lot. Those kind of crashes happen with only shitcoins. And don't invest in those shitcoins thinking that price has went down. Very highly unlikely they will never go back up again. Why not just invest now and not miss the future opportunity to make some good profit?
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