My acquaintance with Ethereum began in 2017, then it was a very good technology. Probably everyone remembers, ICO, Bounty, crazy profits! I have been through this and am very grateful to ETH, but now everything is different.
If you did not use DEX, did not trade in the DeFi sector, then I envy you very much, because it was simply impossible to do this on the Ethereum blockchain LOL)
I started trading in DEX last summer, undoubtedly it was the easiest profit in my life, but then everything changed dramatically)))
With the arrival of more and more new users, the increase in the price of Ethereum, the huge load on the network, I was just shocked by the commission.
On average, I spent about 1-2 thousand dollars on a transaction. When the commission was $30 for the sell/buy exchange, then you don't really notice it. BUT when the commission became $150 one way, I realized that this was just a robbery.
Yes, I understand that when you change 20 thousand dollars, you don't think much about it. But when you give 15-30% of your turnover to a transaction for a commission, it's just shit.
I spend a thousand dollars, and I give 150-200 dollars just to nowhere! What kind of nonsense is this guys?) Can't you see that Ethereum is just a piece of shit?
And also this famous Failed))) hahah. Do you think that you will not pay for the canceled transaction? LOL) You will pay 2-3 times if the hype around the coin is huge and your slippage just does not have time!
As a result, I stopped trading on DEX. I was looking for alternatives like Tron DEX, EOS DEX and so on. But due to the low liquidity, you will not earn a lot of money there.
So here's a question for you, everyone who trades on DEX from Ethereum. Don't you feel sorry for your money at all? Do you want to wait 10 minutes for an exchange? Do you want to see failed every time you did not guess the commission? You guys are masochists!
Switch to other DEX, use other blockchains, forget about Ethereum with their eternal promises!
Let's discuss what alternatives to Ethereum currently exist? Let's figure it out together!
Aurora on NEAR protocol scales Ethereum now. We don't have to wait for ETH 2.0, POS, or sharding because NEAR has all that stuff now. NEAR protocol has infinite TPS with sharding because it doesn't use a beacon chain. NEAR can run Ethereum in a smart contract (Aurora) and unlike Matic/Polygon, Aurora allows gas to be paid with ETH and developers can perform cross contract calls. Users on Aurora have a seamless experience, it's just like Ethereum but faster and cheaper. If NEAR can do all the things you are talking about and if NEAR already solved all the problems that Ethereum has while still being fully decentralized (which I don't know), it is suspicious that the market has not recognized that in a way such that it is a multi billion dollar market cap coin. Is NEAR fully decentralized like Ethereum? |
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It is very difficult to detect which is a real coin or a scam coin. I think one of the ways to find out a real coin or a scam coin is information about the founder or the team. There are also several ways for ICOs or coins to deceive investors, these coins use fake teams. Therefore you have to check each team member, you have to do deeper research on certain people whether there is a possibility that the identity of the team really exists and does not just appear for ICOs or seeking funds.
Many projects team are using fake identity, sometimes they are just using random google avatar and random name and then created a linked in account with ton of great experiences at work. So i think the best way to detect scam is joining their group, telegram group or any social media and look how they answer the question by the people, or ask questions to them and look how they answer and ask for evidence of their project running well. What I would suggest is ask for a live AMA via Youtube or anything like that. If they deny and tell you some adventurous story why they need to stay anonymous, just stay away from the project. These days there is no need to hide from the public if you launch a great blockchain project. There is a very small number of countries cracking down on it so if you have a great idea and want to pitch it to the public, why would you want to hide? |
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Most newbies have the problem that they don't understand the dynamics of the markets and what it will do emotionally to them. When you take a small amount and play around with it in the crypto market, maybe even gamble on less known coins, you get a better feeling of how quick things can develop badly for you and destroy your investment. If you start out big right away there is hardly any chance you will be able to handle the situation neither emotionally nor technically. You just don't know what to do if shit hits the fan.
lack of knowledge be their main problem at this moment so understanding market movement is hard to understood for them. And most of them unfortunately didn't prepare well before they use money for investing in crypto market. No matter how much amount we used for trading or investing need to handle it well, either in emotion or trade plan . it will work when we face bad situation that may occur someday. success in crypto in my opinion is only an achievement that cannot be measured by the length of time we play in crypto..
but it all depends on our persistence to find maximum results, for example, just participating in all bounty distribution contests..
the old one but never follow is the same as wasting a lot of time..
once again for crypto success for me persistence and patience are the main factors..
how long we stand in market didn't be benchmark we will success or not in this market. the thing that will help us only how much effort to learn all about cryptocurrency especially about market cycle, fundamental or technical that work on it. even we just in a year involved but we prepare proper skill maybe we could beat the veteran here. I think we've all been newbies at some point and we probably also made some bad investment decision based on insufficient understanding and knowledge. That's just kind of normal. The important thing to consider though is that you don't go too big in the very early days when you enter the crypto space. That is deadly for newbie investors. |
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someone like Elon Musk is a sly businessman who has big capital of course what he does is only for profit without caring what will happen to other people, as well as joining him in crypto, I think he only benefits from what he has done and in the same way he has manipulated the crypto market.
It's a very natural trait to happen to everyone, because if anyone had the same abilities as Elon Musk now, I think he would also do almost the same thing as Elon Musk because the human passion is to seek as much profit as possible for himself without looking at other people around him. in the market we will not see people knocking each other down, unlike in real business. here indeed there is an opportunity to make a profit by increasing the price, by influencing other people to buy it too, by using a large-scale purchase stimulant so that the price experiences a bullrun, it will be an attraction for other people to buy it too, and for that, as investors we must good at handling this kind of thing The way you talk feeds exactly into the hands of people like Warren Buffet and Peter Schiff. They say that Bitcoiners only try to influence others to buy it at a higher price, which then leads them to feel motivated to find an even greater fool to buy at an even higher price. Bitcoin is much more than speculation and we shouldn't influence people to buy it, but educate them to enable them to make an informed decision on their own. |
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Everyone is sad after knowing what Elon is actually doing, in the end we know, Elon Musk supports cryptocurrency only for himself, to benefit, by carrying the name tesla, after some time, he started to undermine that trust, and now I myself will not follow what elon Musk is rumored again.
The way Elon tweeted was provoking that is true, and he wanted to play around a bit. But from another standpoint it is also unfair to say that anyone who is a multi billionaire and can move a market is also a manipulator. It's like when Warren Buffet announces the purchase of a certain company has been completed and it goes up afterwards by X%. Does he manipulate the market? Should he be forbidden to talk at all in public? That's a delicate topic. what we hope is not a ban as you mean. it will probably focus more on Elon's tweets that don't play tricks on their followers to change market trends. you can see how easy it is for Elon to say something contradictory, it's clearly a game that was intentional by Elon. no matter what you do, after all, Elon and other friends, have tried to enliven the crypto market in their own way. many say he is a loser in the future. but we hope he will stay well and continue to speak well for the crypto market. When you look at his tweets precisely, he didn't really play tricks. It is a lot about the people and their tendency to interpret stuff. Imagine how many things Elon Musk should not be allowed to tweet such that people stop interpreting whatever he tweets. If he tweets a banana, everyone is looking on coinmarketcap whether there is a coin that is called banana coin. I mean seriously, that is also nuts, not by Elon Musk, but by the people. Whatever he tweets, people will freak out and come up with stories. |
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The biggest mistake most people make is a lack of patience and being greedy. they need to discipline themselves. pe patient when to buy and when to sell and do some research and I mean deep research. Be vigilant. you can listen to others' advice that why we have this Bitcoin Forum, to share thoughts and opinions about bitcoin and its future but in the end, it's you to decide and judge the real situation in the market.so do deep research and be patient always
The key to successful investing in cryptocurrency is patience, because most people panic too quickly if they see the price of coins purchased suddenly fall. Even though if we have bought potential coins, there is no need to panic if the price of the coins falls, because usually the potential coins will recover quickly and the price can go up again. The next causes us to lose money when investing in crypto, we are not able to control our greed. If we have reached the target we set, sell immediately, don't delay taking profit, the price of the coins we buy can drop suddenly. In conclusion, I agree that the reason why people fail when investing in crypto is a lack of patience and not being able to control greed. So fix these two mistakes, then it will be easier for us to be able to make a profit. Another problem is that they also start out with too much of their total capital available. They either panic because the price could drop or they panic because the fear of missing out. If you are moderately getting into the market with small steps, investing a fraction of what you have available every couple of days, you reduce your downside risk but also your upside potential. Yet it let's you sleep better, you are part of the market and get to learn to deal with the market exposure. Why are we always encouraged to invest money, we can afford to lose, because when the market situation worsens we can remain calm and not panic. I agree that it is better to start investing with a small amount of capital, especially for newbies who do not have the knowledge and experience, it is better to start investing with small capital. So when they experience a loss, they are not stressed and discouraged, they will easily get up again. And can consider these losses as the cost of learning to invest in the crypto world. Most newbies have the problem that they don't understand the dynamics of the markets and what it will do emotionally to them. When you take a small amount and play around with it in the crypto market, maybe even gamble on less known coins, you get a better feeling of how quick things can develop badly for you and destroy your investment. If you start out big right away there is hardly any chance you will be able to handle the situation neither emotionally nor technically. You just don't know what to do if shit hits the fan. |
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Now there are three questions in America. 1. The sluggish economy 2. High inflation 3. The outbreak of the epidemic.
Dow plunges nearly 900 points on July 19 2021.Bitcoin drops back below $30,000 yesterday.
All are disappointing signs. Many investors plan to sell Bitcoin.Most people lose patienceIn for cryptocurrency.
But In long-term trading, in addition to knowledge, patience is more important than any other factor.How do u think of it?
When things are good nobody complain about things are going too smoothly and they can no longer take it, but immediately things are a bit rough around the edges, complains are what you see on a daily basis, nobody said life will be smooth as butter all through, pandemic only started 2019 but before that time many people live a healthy life and has the freedom to do whatever they want without fear or restrictions, even then many did not appreciate their good health and freedom, now things have change but that don't mean it will remain this way, better days will surely come around again if we are patience enough. We don't appreciate what we have until we lose it. You are right and this also reminds me of the weird rebound the markets did in the beginning of the pandemic you remember that?I think it was April or May 2020 when the pandemic fully hit us all, but out of a sudden the markets did one record after another even though it was unclear whether we would have vaccines or not. All those social actions are obviously irrational. There was no reasonable explanation for the markets to cover. I think humanity is too much infiltrated with greed and as soon as there are bumps in the road everyone freaks out. |
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There are plenty of red flags indicators that you can look at every time you are looking and wanting to invest in an unfamiliar altcoin. One of my indicators is whitepaper if the information about the project is not clear and doesn't have any use-case then its for me a very doubtful altcoin. Another is their roadmap if its not clear as well then its a red flag for me.
You are right that we should check whitepapers and roadmaps to find out how this project is going to develop, how it works. But it is not very easy to find tricks on their documents, especially for newbies who haven't seen many other examples before. So one more very important indicator is community and social media. You can judge from the number of people in the community, if devs answer the questions on social media and if they show all their work. The first thing you should check when you look at the white papers and the roadmaps is whether or not those things are plagiarized. WE have had many cases in the last couple of years where anonymous teams just stole white papers and roadmaps, rephrased it here and there a little bit (and sometimes not even that...) and put it up on a well looking website, claiming that it is their project and they are super ambitious but can't dodge themselves because their government is against crypto... Same story all the time and I would only very rarely touch a coin where the team is 100% anonymous. It is just too risky. |
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Bitcoin has effects that can be felt across the entire cryptocurrency market, however bitcoin doesn't have direct impact on all altcoins
This is because Bitcoin has the largest market cap of all cryptocurrencies and a bullish BTC run make people more open to investing in other altcoins. This however doesn't guarantee a bullish run for altcoins.
But if BTC is in a bearish season, then almost all altcoins also becomes bearish
Generally it is, but when BTC starts to be bullish again within a few percent, then Altcoins are also bullish for a few percent because most Altcoins will recover when BTC starts to bull again because of the large demand and supply in the market. From what I observed in the past most of the time all other coins move a little bit more harsh than Bitcoin. Not always, but quite often that is the case. When Bitcoin moves 5% to 7% up or down, it is not unusual for other coins to move about 10% up or down. Bitcoin is very volatile, but in volatile times it is actually less volatile than the rest of the market. |
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I stopped using ETH on Ethereum and moved to Fantom and NEAR Aurora. I got sick of the fees and failed transactions.
It is very difficult to stop using ETH since most of the coins are created on the Ethereum blockchain. Accordingly, by refusing to use Ethereum, you miss a lot of profitable projects, which, with a decrease in the dominance of bitcoin, will show a very good price increase. A lot of projects that have been launched recently are not running on top of the Ethereum network. Binance Smart Chain seems to be the preferred hub for now for any new project launched, or most new projects. But there are so many older projects that people are still holding onto, that there is no way around Ethereum. Everyone is waiting for Ethereum to scale and succeed and make their token valuable. I see that too, many of new projects deployed in various smart contract blockchain and its actually a good thing since it could reduce or atleast prevent eth from getting too overloaded after all a project will need different specification, for example axie that needed a blockchain that could make many transactions in short amount of time. Its all about preferences that the project have, atleast with the spreading of developer to many blockchain it could bring newer smart contract platform come to life. The issue with this point of view is that Ethereum always claimed it wants to become the center of all action when it comes to decentralized applications. Hence they have to solve the scalability problem. It would also make sense to have one place that you go to when you need decentralized apps. It is the same as when you go to the Appstore of Apple. Imagine you would have 8 app stores on your mobile phone, you would freak out of course. |
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I stopped using ETH on Ethereum and moved to Fantom and NEAR Aurora. I got sick of the fees and failed transactions.
It is very difficult to stop using ETH since most of the coins are created on the Ethereum blockchain. Accordingly, by refusing to use Ethereum, you miss a lot of profitable projects, which, with a decrease in the dominance of bitcoin, will show a very good price increase. A lot of projects that have been launched recently are not running on top of the Ethereum network. Binance Smart Chain seems to be the preferred hub for now for any new project launched, or most new projects. But there are so many older projects that people are still holding onto, that there is no way around Ethereum. Everyone is waiting for Ethereum to scale and succeed and make their token valuable. |
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I want to understand if all altcoins are built upon the foundation of BTC. This is because when there is severe crash of BTC, all other coins, I mean all, also crash.
Is there no independence in the cryptocurrency world?
Thank you!
Not sure but mostly depend on bitcoin but not all. Some of alts have there own way through their function and own blockchain. But even if we say some alts have own movement, still the impack of btc is there in up and downs in cryptocurrency. All coin price depend with bitcoin but few coins keep up although bitcoin down and now hype NFT coin become most public discussing because raise up to higher price although bitcoin down. But remember with hype coin never take long time for holding because they can dump suddenly when success get much profit and do not care about how much price later down or not. NFT hasn't that much to do with Bitcoin and yet they will tank if Bitcoin tanks. The reason being that Bitcoin just represents the new digital asset class which NFTs also pertain to. This may change however when NFTs for art manage to decouple their pricing from Bitcoin and build an asset class of their own. This may take a while, probably years but I can imagine that will be the case in the future. |
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Is there any tangible reason why binance exchange is been hunted? It seems they just hate success or what? Anyways no matter what they try CZ is a determined fellow, that's why binance made it this far, it's my best exchange and won't be changing any time soon
That is what success feels like. You will always get bashed from different angles by different people including the very ones using the same good services provided by the same person they are hating on. CZ/Binance has done well in the crypto exchange system and continues to provide good service to its users. Years ago, I remember when Bittrex was the exchange, so what happened? Binance honestly is giving me what I want in an exchange and also some other exchange too and will continue to use it regardless. CZ has enemies because he expanded extremely aggressively and successfully and as far as I know he was also grinding quite on the legal and regulatory edge. He did comply with everything he was requested and required to, but he didn't go one step further. Institutional investors haven't been his goal and he also didn't target them. That is why he could get away with less regulation than, for example, Coinbase. They had institutional investors as their target group and had therefore to fulfill a lot of regulatory requirements. CZ bet on the right horse: the retail investors. |
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I think To know that it is an Altcoin scammer is the first to not have a strong team, and not to have great investors. then the next step To find out that it is a scam altcoin not listed in Coinmarketcap. I think like that
Not being listed in coinmarketcap is the last point for new projects, because the main thing that the project developer must prepare is a completely transparent team structure and a roadmap that really makes sense, so that with that they can also publish their cooperation partners so that investors can come by themselves. true as what you said, but we can also find out on coinmarketcap whether it is listed there or not. I don't believe in a big campaign being carried out by a bounty project team if the token they are developing is not listed there on coinmarketcap. right, sometimes even registered tokens suddenly disappear from the coinmarketcap list, and when that's the case we can predict that the price has turned to ash, and the capitalization is certainly low. but there are also incidents after being lost for a while and then reappearing on coinmarketcap, and we must be careful to deal with situations like that Coinmarketcap usually delists or deactivates data for coins that simply don't produce any trading data anymore, aka they are essentially dead or delisted from any exchange that Coinmarketcap pulls data from. Bottom line is if there is no data for a coin on that website, consider it dead. |
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This question is already an old question. You can search for related topics in the forum. You will find the answer slowly. If you are a novice, you may pay a certain amount of tuition for your youth. My experience tells me not to believe that pie is falling from the sky, but also to think about whether there are the following characteristics: - Any pyramid model involving "pull heads" must be a Ponzi scheme.This is the most common and notorious. The essence is the emperor's new clothes, illusory.
- The project party copied the code without any innovation, copied it naked, and only changed a name. Some altcoins will also madly build momentum, with the help of various celebrities, and shamelessly gain popularity.
- Anything that involves shameless talk such as "guaranteed income" and "inevitably surpasses Bitcoin" must be rubbish coins. Rubbish coins often use pyramid schemes for new promotion, and the project party will eventually circulate money and run away or the capital chain is difficult to maintain and collapse.
- The project code is not public, and there is no audit report before the project is listed, because their purpose is to have low-cost investment to defraud high returns.
- Project tokens will be listed on some unknown small exchanges. Such exchanges are often characterized by small trading volume, slow operation, frequent downtime, and difficulty withdrawing coins.
- The team information is opaque, the team is overwrapped, and the team is advertised as foreign senior programmers.
In fact, sometimes it is ridiculous to think about it. In their eyes, they seem to think that there are too many smart people and not enough fools. Thanks for writing this up. Actually, the list could probably go on and on, but you pointed out the aspects that are usually so blatantly obvious, yet we see people falling for it. Also when the Telegram channel is full of bots, you just need to search certain phrases and they pop up a hundred times in the search bar because they deploy bots. Mostly, those teams are the ones to also tell you the exact market cap of the coin in two months from now. The team information is opaque - that is almost euphemism. In most cases they are just anonymous or use fake profiles. You can find their fotos with a google search... |
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Those hates will not prevail, Binance is doing great and helping the community and new investors to invest in Cryptocurrency, they have an academy on how newcomers can enter Cryptocurrency in the right way, and you can easily trade on Binance and all the coins listed are profitable they are the leaders in the exchange industry and competitors are trying to bring them down, but they are not going to suceed.
That hate is probably going to prevail I believe. As I said before as long as they have such a large market share they will also have a lot of enemies. The edge they have over others is insane. I wonder how much CZ is making on a single day. That's where the jealousy kicks in probably. I doubt that it is "only" about the amount of money they are making, it is also about the power they have. Sure the power they have turns into money when they use it, but also they are such a big place that whenever they list a coin that coin goes up so much and whenever they delist a coin that coin gets low so much, and that is just listing/delisting power they have, this is minor compared to all the power they have over all the other exchanges not making any money as well, they can decide to ruin a whole nations crypto exchange world, like they started working with my nation and all other places nearly went bankrupt as well, that is related to money but it is also power of binance as well. Branding could always be awesome, that is why there are people who hate apple as well, apple is just making phones and computers, why would anyone "hate" something like that? I mean you may not own one, not prefer one, but "hate"? Really? Same logic here as well. You can rarely distinguish money from power in this kind of environment. They use the money they have very wisely and effectively, pushing technology to the edge and beyond and building a global empire with offices in a lot of countries around the world. You can't attack them. If you attack them, they are just off to the next country. Since they make so much money, they can exert an enormous power over its competitors in all countries as you said. They don't even have to charge listing fees and can go so low with their trading fees that any other exchange couldn't even cover its operating cost. That is the issue when money- and power wise one company gets almost out of control. Binance is such a giant. |
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Almost all altcoins will at some point present independent movement from bitcoin, the question is if they can maintain this kind of movement and for the most part the answer to that is no, even ethereum which is the second coin in the market has huge problems doing that and if ethereum cannot do it then there is no altcoin that can do it, this means that people that want to earn money need to time the moment they enter in altcoins, as doing it at the wrong time can cost them a fortune.
We could say that EVERY altcoin is dependent on Bitcoin one way or another. That's because Bitcoin is the one cryptocurrency that started it all. Without Bitcoin, none of this would've been possible today. It's the reason why every crypto exchange lists an altcoin with Bitcoin as the main trading pair. Being the reserve cryptocurrency itself, gives it a huge advantage over its competitors. Unless a new cryptocurrency with a new technology superior to Blockchain comes out, I don't see any altcoin becoming independent from Bitcoin anytime soon. Just my thoughts  Yes and that is where most guys in the industry agree upon already. As Bitcoin is so similar to gold it will probably forever remain a kind of reserve currency for all other cryptocurrencies that might be launched in the future. But I would say that crashes in Ethereum could also lead to other coins getting dumped. Ethereum also has a bit of a reserve currency characteristic. And this is natural, after all there are hundreds if not thousands of coins running above the ethereum network so all of those coins are very sensitive to everything that happens in the network, like the price going up or down and the fees being high or low, however its effect on the market pales in comparison to what bitcoin does and this is not surprising since we know that the majority of the interest of most users and institutional investors is in bitcoin and most of the transactions that includes goods and services also use bitcoin, which means that its dominance is way higher than what the numbers show. Exactly, that is probably the most relevant point you brought up here. While Bitcoin kind of transmits signals to the whole market, for Ethereum it is more natural because if the underlying network nosedives, how could all tokens running on top of it possibly stay afloat?  Very true, they'll necessarily nosedive as well. |
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I stopped using ETH on Ethereum and moved to Fantom and NEAR Aurora. I got sick of the fees and failed transactions.
It is very difficult to stop using ETH since most of the coins are created on the Ethereum blockchain. Accordingly, by refusing to use Ethereum, you miss a lot of profitable projects, which, with a decrease in the dominance of bitcoin, will show a very good price increase. correct. I also think that in the crypto world, we will all definitely relate to ethereum, because most coins nowadays have an ethereum platform. other than that, I also think the same thing, that when you refuse to use one of the popular coins, then the level of profit you get will not be that big. Not aware of the exact numbers, but I can imagine that Binance Smart Chain is at least getting closer to Ethereum in terms of the number of projects launched on its network or it may even have overtaken Ethereum by now. If it didn't yet, it probably will within the next couple of months as for now Ethereum is still not able to handle large scale micro transactions, which is important for most of the apps built on top of these networks. |
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They sell their Bitcoin and lose patience with cryptocurrencies. So, where would they put their money? In bank? Where or what could be the best option now to invest it? I know it's not gambling too.
I think this only has something to do with the climb of number of altcoins out there. The money is being diversified and it's not a bad thing in my opinion.
Everyone has their own choice where they want to put their money in or even risk it for a better expectation in the future or short-term.
But, I doubt that money is gone in the crypto industry. It's still there, we just can't point out where exactly.
I don't think it is that much diversified anymore. The newcomers might throw their money at unknown (scam) projects, yes, but as soon as these projects seem to fail most of that money goes back into the bigger cryptocurrencies. I haven't looked it up now, but the vast majority of capital in the crypto market belongs to the first 20 or so cryptocurrencies anyway. |
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