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if you want to prevent your account from being hacked, you have to ensure that you don't give out private information about your wallet, you must never give out your private key or password, you must be sure of the sites you visit even when you want to login to your wallet account, be sure you are visiting the authentic site as this is one major reason people get their accounts hacked.
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I won't blame the government so much for trying to do everything to kill bitcoin, the government reckons that if bitcoin is allowed to enjoy a very smooth sail, a lot of people will avoid the banks and embrace bitcoin instead for trans-border and even some local transactions thereby reducing the bank's earnings and consequently a reduction in government's revenue from the banks. The fact that it is difficult to tax businesses done with bitcoin gives the government another reason to want to kill bitcoin, government lose money when businesses are done with bitcoin.
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Bitcoin indeed will be fine, even though from the analysis given above, it took bitcoin more than 2 years to witness a significant surge in price when prices fell in 2014, I'm very certain that in this present situation it will not take that long for prices to surge because people are now more enlightened about bitcoin and this has brought about a reduction in the numbers of persons that would have taken rash decisions as a result of panic.
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I think we will appreciate bitcoin better if will look at it from the viewpoint of blockchain technology, technology has turned out to be the best thing that has happened to mankind in recently years, and with the way bitcoin is going in the exploitation of the possibilities of technology, it has the potential of becoming a global currency.
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Bitcoin is better than paper money in some many aspects, I will just briefly highlight some points: Unlike paper money, bitcoin cannot be damaged by water or any other liquids, bitcoin cannot be mutilated like paper money, also, bitcoin cannot be physically stolen except it is done online. There are a lot of other things that makes bitcoin and in fact cryptocurrency a better currency than fiat currencies, such as the ease of transfer, durability, etc.
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The idea that bitcoin is illegal is a fallacy,as the legitimacy or illegitimacy of bitcoin is subjective. I can categorically tell you that there are a lot of countries in the world today where there is no restriction to the use of bitcoin, some states have made it so legal that it's use is backed up by law, so to those states, you can't say it is illegal. I actually understand the points you were trying to raise, but generalizing that as illegal is incorrect, would you say because people use a certain fiat currency for illegal activities that the currency is illegal? The same applies for bitcoin.
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I actually think the merit system should be looked at again, I think this system currently in use is defective. Someone may write a post that some persons may think is a quality post, but the merit sources may not see it that way, it is also very possible for someone to post a very useful (quality) information in a thread and never gets read by those who should award the merits. There should be a system in place that ensures that judgement is not subjective and all posts are read in order for merits to be awarded when such is dully deserved.
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It is a pity that most people go into bitcoin purchase without knowing a thing about the coin, they go into it for purely business purpose, that is why when things seem not to be going the way they expect, they begin to panic, then the fear of uncertainty and doubt begin to get the better of them. Considering the fact that they don't know much about the coin and are only interested in making profit, so they quickly start selling off in order to mitigate against losses.
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It is true that a lot of people get emotionally attached to their coin, it is not all emotional, sometimes it could be due to the fact that they don't want to miss out of the boom that may occur after selling, this is one aspect of FOMO (Fear Of Missing Out), it makes them want to buy and not sell because they don't want to miss out of the moon period. My sincere advice to anyone who wants to be successful in this cryptocurrency business is that:
One should never get so used to a coin as not to sell when the price is good.
One should also not be greedy about profit margin, take your profit once it's reasonable.
Always set your goals and once your goals are met, do the needful and sell out.
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As i always advise people when it comes to bitcoin and other cryptocurrencies, "never get greedy". Do not invest all your money on cryptocurrency and do not sell all your digital assets (coins), always set a target and when you meet that target, cash out your money and reinvest when conditions are favourable.
One of the problems we usually have is that we want to make all the profit at once, and so we buy into the idea of continuous investment until we have invested all we have. Like the gambler's theory; "know when to play, know when to hold on and know when to walk away"
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Without any iota of doubt, my answer is affirmative. with the popularity that bitcoin is gaining, it could well be that currency. For those that are keen on prophecies, the holy book talks about a new world order where there would be a central government and a currency that will be used by the entire world, made possible by having some numeric codes implanted into ones body. Revelation 13:11-18 (The Holy Bible).
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The statistics is really very encouraging, but like some commentatotors have said, it only considered accounts on blockchain and did not put into consideration the fact that for instance, almost everyone of us in this forum have more than one wallet account.
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For me, I think what you should do is to go back to the drawing board, examine how u ended up lossing so much and hence begin trading with wisdom while avoiding similar mistakes. Crypto trading is actually a good way of recovering lost funds if you are not greedy for too much gain at once. You must set the desired profit margin at which you sell off, it should not too high, you could say 5% or 10% profit. Always buy when prices fall and sell when your set profit margin is reached, this way little drops of profits will make an ocean of profit for you.
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Before I started any investment in cryptocurrency, I was told by a friend that a fall in the price of bitcoin means almost a certainty in the corresponding rise in the prices of altcoins, but I have come to discover that the reverse is the case. What I still don't clearly understand is why?
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Bitcoin prices this year is not likely to surpass the $20,000 mark of last year. The way I see it, prices will rise as more persons begin to invest, this will increase the awareness and it's acceptance. As it gains more acceptance, the prices will then drop due to series of regulations, it will then get to the "stable zone" where the volatility would become very minimal. That is my postulation.
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A lot of these scammers have recently flooded Facebook with so many ads promising huge returns on investment (ROI) per day, some promise as high as 30% ROI daily. To be frank with you, no business model can sustain a 10% ROI daily, this should tell you that it's all a big scam. So beware when you are promised quick and outrageous profit margin in any investment platform.
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Hello everyone! Hope you're all well and surviving the dreaded bear market!  Just thought i'd share my experiences of the first few weeks i've had here. I joined here for the first time ever in mid-May, i didnt start posting until approximately 2-3 weeks ago though and mainly browsed topics and threads when i wasn't logged in. I wanted to find out what it was like here first, what i could bring here (if anything!), to study what people were doing right and avoid making mistakes a lot of people do when they join here. If you're new here i seriously recommend doing the same.For the most part i've thoroughly enjoyed it here, i've picked up some tremendous tips which i knew little about before being here including: - Understanding mining. Always had an interest in it, but never really knew a too much about it. This place has a wealth of info on mining and i'm glad i have found it.
- Astounding amount of knowledge and insight into most of the niche areas i'm involved with or interested in.
- Opportunities and rewards that i genuinely never even knew about before being here.
- Tips to grow or start your crypto related social media channels.
- Pointers to other great content across the web- rather than the same boring FUD filled channels you see on google all the time.
- Wise words from the senior members of the website who've been in crypto through every bear and bull market who can put our minds to ease when it looks like things are going 'tits up'!
- How to say "Great project" repeatedly.....well maybe not that one!
Seriously though, I could go on and on. I'm absolutely over the moon i have found this place as i don't know ANYONE in real life who is into crypto. So finding likeminded people with the same passion and interest that i have is an awesome feeling. I'm thrilled to have ranked up to Junior member today, very grateful for the Merits iv'e received as it shows people are looking at what we all post, and that i am genuine and wanting to contribute here- as and when i can. What i'm also trying to say is- all the info you need is here! You just have to seek it out and find it. I've learned a lot in a short space of time and i'm grateful to each and every persons post that has helped me. If you're new here, don't ask silly questions that will immediately put you in the bad books and on people's ignore list! Learn, contribute and stay positive! Thanks for this enlightening words. It will definitely come in handy for a lot of us. |
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In my opinion, I believe investment in bitcoin is much more risky than the banks for some obvious reasons;
When you invest in banks, you are sure of a certain percentage profit for a period of time, although this profit may be very small compared to your investment, but with BitCoin you are not sure of anything because the market is so volatile that you can make huge profit or even a huge loss overnight. So BitCoin is more risky, but I will still choose BitCoin over banks.
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I will say it is really difficult to know the best time to take profit, but what I would always suggest is that you set a "not too high" target, once your target is reach, you take your profit and wait for another opportunity to trade.
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I found this expression on the news channel about the crypto currency: "Anyone who will try to buy coffee for cash in 2023, runs the risk of causing laughter from the seller, that he does not use crypto currency."
how do you think, is it realistic? Can a crypto currency replace national money?
I think that it's possible, but it will take more time.
It is very possible that cryptocurrency will one day replace fiat currency, take a look at countries like Venezuela and Bolivia, Cryptocurrency is so much in use that some traders prefers payment in crypto over their fiat currency. Certainly, the world will come to accept cryptocurrency, but ehat i don't know is when. |
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