How can crypto pose risks to the banks,if they aren't using it? The bank clients might be using crypto at their own risk,but that doesn't increase the risk for the banks at all. Totally blank statement.  Cryptocurrencies pose potential risk to the banks because they represent totaly different financial principles and under their influence they might need to change they do their business. In.a way cryptocurrencies are competition to banks because they are their alternative. And the reason why banks are not using cryptocurrencies yet is strict regulatory framework and risk assesment that doesn't allow that to them but I beleive that will change in the very near future. |
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I doubt the news. because the hottest issue lately is the binance hack, after that there is no news or info about other frauds especially with a great number. this community should know better know than Reuters news agency if there is a sensitive issue. everyone is very careful in storing their digital assets and the exchange places double the security, even if there a frud the value not big as that. so I really doubt it.
We have to know that not only big exchanges are vulnerable to hacking but private wallets of users too. And that you will not be reading in news. Crypto users should be more aware of danger and more protect their coins but the community is still not enough aware of that. Criminals were always interested for every source of money and crypto is very attractive to them so I think that all kinds of frauds and hacking attacks will rise and the damage will grow. |
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At the moment the price is above 8000$ again. But the question is could it stay there and move forward or not, will it pull back again. From the recent experience we might conclude that is hard to break the resistance level so price moves back and forth all the time. I have the feeling this will continue in the upcoming period too.
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Nothing special will happen. Recently there are some controversial information about possible ban and similar but nothing is yet confirmed and final outcome is still unknown. I think that no matter what will happen at the end and what government might decide people will continue to use Bitcoin and that will not change. Personally I don't believe that Indian government will introducr such restrictive and harsh law.
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Every year since it was created Bitcoin is making progress and some new developments are happening so based on that every year could be called the year of crypto.
The previous and this one are maybe the most important because of regulation efforts and acceptance in some new countries but in general to my opinion the true year of crypto, at least for Bitcoin, was 2017.
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To the people are willing to trade and you started as newbie I think purchasing coin is good and you will hold it for longterm because your knowledge is not like to me or to us who have lot of experienced in this fields and because if you are choosing daily trade possible you lose your money.
Daily trading is much more risky and not only for newbies but for experienced traders too. It could be more profitable than long term trading but it's not for everyone,it's time consuming and takes a lot of dedication, knowledge and experience. So long term trading would be my suggestion, at least for the begininig until you gain some self confidence and experience. |
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Thank you for the advice, in my opinion a lot of your words are correct, most new traders often trade every heart to get a lot of profit without having a lot of knowledge and end up losing
They should do both, a heart and knowledge, because with that, it means you are putting your love in trading and that will become your passion. That is true but such way of thinking comes with experience. At the begininig many new traders make mistakes relying strictly on analisys, graphs and numbers without using their intuition or they are just too eager for profit not having enough information and knowledge. When they find right balance then usually comes success too but that takes time. |
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At the moment I'm not bothering my self with such guessings and speculations. Bitcoin is unpredictable and price change is under many influences. This almost a half year period and for Bitcoin this is a very long time. I'm more focused on current situation and how to get the best from the current price movements.
I would just add, don't expect too much and too high price range this year, you might get disappointed.
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This is strange thing to do for country like Canada. Since they are not restrictive country I guess there is some reason for such idea. Still ban will not solve the issues whatever they are so they should find some alternative solution.
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According to my experience yes, they are reliable. Just like any other regular bank ATM. But I guess maybe there could be some issues due to the software or something. So far I haven't heard any complaints by users from any country but on the other hand I think that people don't use so much Bitcoin ATMs anymore.
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I beleive that you should have fun in everything you do in your life and so in trading too. Of course that you have to take it seriously in order to make some money and not to generate too much loss but that doesn't mean that you can't entertain yourself. If trading is too much stressful for you that could influence your healt and that is the sign that trading is maybe not for you.
I beleive that successful trader really have good fun in what they do and that is the part of their success.
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So many conspiracy theories about SEC and to be honest I don't like that. People expected too much from ETF thinking that will rise the price and solve some issues.
Personally I don't think that ETF would have some significant positive influence and having in mind all this situation around it I stopped counting on it long time ago, don't bothering anymore. Bitcoin can make further progress even without it.
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I'm not sure if there are exact figures how much energy is spent on Bitcoin. Probably with bigger adoption energy consumption will grow further but maybe some alternative energy sources could be the answer to that.
The biggest problem for CO2 are huge mining farms but for them there could be defined some additional taxes or something, like is already done in some other industries, and funds from that should be invested further in environment protection. I think that no one wants that Bitcoin becomes another problem for our planet.
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No one can't guarantee you safety and security and you have to try to protect yourself. Do the background check, check everything twice and if something looks suspicious than probably it is. Don't fall for fast and easy money, fraudsters count on greed and being naive. There is no such thing as free lunch, don't ever forget that.
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When it comes to trading it's good to use some good quality data and make some analsys, do the research and similar but you shouldn't neglect your instict also. That comes with experiences and many years spent on the market but yes, I often listen what my instict is telling me. Sometimes it's wrong, sometimes it's wrong but at least I make my decisions on my own. But I guess everyone has different strategy.
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I think for now we are waiting for the price of $ 8000, and when the price reaches that, it will be a good thing. after that, we need to support this price development so that it can be stable, or become higher. of course that would be good news to see prices like that again.
Bitcoin price was around 8000$ but now it is dropped a bit , maybe due to weekend. Bitcoin is mostly shaky on weekends. I am anticipating bitcoin to reach 9000$ by the end of June 2019. Weekends can be a cash-out day for winning traders and gamblers, time for them to enjoy their profits and spend some relaxing for their friends and families, small downside will not affect the market that much be calm and if you have some spare money you can observed and do some shopping while value still cheap chances for the bounce to happened next week can be anticipated. There are many speculatiions that weekends influence in negative way on Bitcoin price but there is mo actual proof for that. I would say this weekend was the opposite, Price has moved up a bit but it seems that 8000$ boundary it's still hard to break again. Even in the upcoming week I don't expect that. |
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Creation of Bitcoin was kind of opposal to traditional financial system and alternative to banks and other financial institutions but I don't believe in conspiracy theories about Satoshi, Bitcoin and whatever. They don't make sense at all and you only waist your energy for nothing.
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When the government forbids cryptocurrency
In my country, the government is gradually apply internet and cryptocurrency control decrees. Previously, they banned direct Bitcoin transactions. Currently, they are banning crypto-related bank transfers. And of course, ICOS is also gradually banned .
Initially, they said they would not ban crypto and bitcoin. But now their actions show that they do not want crypto to exist.
Is their purpose not to secure crypto investors? They are trying to make it their own
They see huge profits being lost for themselves
And when the internet management program took place in my country, maybe I could not come up here to share my views like this. So sad
You did not mention the name of your country, but in India right now there is news that you could be facing up to ten years in prison just holding, trading and mining cryptocurrency, this is a very abusive law but they cannot stop adoption of cryptocurrency, and they will find themselves one of the few countries that are left in adopting Cryptocurrency. This is just a proposal in.India, it's not yet in.power and it might not be at all. But I agree thia is very harsh and U don't know what is the background for such decision. Still ban and repression can't solve anything, this is the worst option and it will not solve the problem of cryptocurrencies misuse and illegal activities that are present. Ban of Bitcoin and other cryptocurrencies could only be punishment for honest users and that is not fair. |
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Don't keep all eggs in one basket so divide your coins in multiple wallets. This is the way how you can diminish the risk. Also, use hardware wallets they are still the most secure but it would be also good to combine them with offline wallets. And store your access data somwhere at really safe place where no one else could have the access.
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It's a bad feeling but it's inevitable. And I think that everyone remembers the first loss and how bitter it tasted.
But with time you learn that from time to time you can't avoid it but it's very important how you deal with loss and do you manage to recover it and move on. To my opinion that is the most important. And with time you also learn to estimate the risk and not to make foolish decision. But to take it serious I think that everyone has to experience the loss.
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