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June 21, 2024, 09:05:36 AM *
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221  Bitcoin / Bitcoin Discussion / Re: Could crypto replace government? on: August 01, 2021, 05:57:12 PM
Definitely. I think a DAO or multiple ones could take the place of the government, but not entirely. There would still be a need for specialised people in the governance. I mean we can't rely on the mass of population to decide who is going to run the agriculture sector for example or who will be in charge of healthcare. Yes, law voting and elections can be digitalised and maybe put on a blockchain, but we can't make it completely decentralized. For a complete feasibility, this requires much further analysis of the exact processes that happen in the governments and how exactly they can be improved using blockchain tech.

btw there also is the RSK network which is considered the "safest" one taking into account that it is a second layer of Bitcoin
222  Economy / Trading Discussion / Re: What is stop loss and how it works on: August 01, 2021, 02:03:53 PM
"I have been in trading for some time now" - you're kidding, right?

You can't be "in trading" and don't know what is a stop-loss. I can't conceive trading with at least a mental stop-loss, an area you know your trade idea has been invalidated (you are wrong in your interpretation of the market). IMO stop-losses should be an essential tool for any trader. You can't know what all the market participants are pursuing with their positions at any point in time so it is only logically that you have a way to exit your position. If not, your loss would just get bigger and bigger.
223  Bitcoin / Bitcoin Discussion / Re: I feel like there is no way to keep up on: August 01, 2021, 06:46:31 AM
Don't get trapped in the fallacy that you have to own 1 Bitcoin to be successful or to get rich or whatever. It is all about percentage gains of your net worth. If Bitcoin continues steadily marching upwards during the years you should have no worry whether you hold 0.01, 0.10 or 1 btc. Moreover you shouldn't focus on how much you own, but on doing the day-to-day activities that can get you to the place you want.
224  Bitcoin / Bitcoin Discussion / Re: 2011 Bitcoin rejected person reaction on 2021 on: July 31, 2021, 05:48:30 AM
There is no point in making your life miserable because you missed opportunities. We can only perceive so much with our current understanding of the world. That is why we need to continuously develop ourselves and not 'settle' and default in our current knowledge.

He should be grateful that he is alive, not depressed because he didn't enter the market then. Money can come and go, but we don't get back our time nor its quality.
225  Bitcoin / Bitcoin Discussion / Re: Amazon is looking to accept Bitcoin payments by the end of the year on: July 28, 2021, 04:57:45 PM
Amazon and Jeff Bezos are known for constant innovations. It makes sense to at least try making a move with cryptocurrencies. They might lose market cap against a competitor who could decide to accept only cryptocurrencies in its business model. Who knows..

Nevertheless, this could have a big impact on the market especially if Bezos also decides to join "arms" with Musk and start stacking bitcoins as well.  Grin
226  Economy / Trading Discussion / Re: Don't be too desperate to make earning on: July 27, 2021, 05:33:43 PM
Each trader has its own personality and thus has distinct relative performance on different trading timeframes.

A trader who is consistently profitable on a intra-day timeframe might not be able to generate profits when trading on a daily or weekly timeframe.  It's all a mixture between personality, experience, strategy and skills.
227  Alternate cryptocurrencies / Altcoin Discussion / Re: Passive income on: July 27, 2021, 03:59:35 PM
I think you should look at the risk as well. There is no "best" way to earn passive income and I recommend to take a good look at the risks associated. Personally I'd look elsewhere for passive income, unless I am an expert in DeFi and know the risks associated with any kind of token/protocol I want to invest in. The competition is also quite fierce, projects are popping out everywhere and personally I haven't seen a long enough track history to state that investing in DeFi is a reliable source of passive income (not worth risking high % of your net worth). But hey, that's just my humble 2 cents. I might be a much more conservative person than you are.
228  Economy / Speculation / Re: Is Bitcoin bull market back on: July 26, 2021, 06:09:26 PM
The short-lived dip before $30k looks like an authentic bear trap. I wouldn't get ahead of myself and say that the market is back in a bull run. However this surge in price is a healthy sign. I'd wait for a break of the ~$40k resistance. We have been consolidating for a while so there are a lot of technical structures that need to be broken on the upside before resuming the race to $100k mark, but everything is possible in crypto. Wink
229  Economy / Gambling discussion / Re: Weekly/monthly financial statements, which do you prefer? on: July 26, 2021, 05:57:49 PM
I believe most of the gambling sites have some kind of statistics that measure different variables like your winnings/losses, total amount wagered, number of bets played.

If you ask me, I'd say this is useful for the responsible gambler, but might be frustrating or even dangerous for someone who is or is on the edge of becoming an addict. Seeing how much you lost is not an easy task for anyone. You keep thinking about what other things you could have made with that money.

I guess you can come with something like: "This month you have spenth $300 (loss) on entertaining yourself." - I imagine that would help some gamblers cope with their feelings.
230  Economy / Economics / Re: New Jersey Pension Invested $7M in Bitcoin Mining on: July 25, 2021, 05:41:06 PM
Well, that's a really risky investment considering that bitcoin is a volatile investment especially using pension as a capital for the investment. I hope that the investment will be fruitful though and I think it will bear big profit because it might need some time.

I wouldn't say it is a risky investment. $7M out of $30bn is only around 0.023% if my arithmetic is still intact. lol
That's quite low in my opinion, but at least it is a start and could produce a snowball effect between pension funds. That's good news anyway. Shout out to New Jersey!  Grin Cool
231  Bitcoin / Bitcoin Discussion / Re: Bitcoin losing its importance on: July 25, 2021, 05:35:50 PM
It is a free market and everyone has the right to express his/her opinions about any subject. The issue is that the majority of people place more importance on the words of successful personalities. That's normal, but in the markets, following other people's opinions is close to economic suicide. Proper financial education is the solution.

I don't think other professional investors follow Musk's mood swings and "manipulation". I think the casualties are mostly the retail traders as always.
232  Economy / Gambling discussion / Re: Should online gambling companies be responsible for harm related activities? on: July 24, 2021, 04:58:10 PM
To be honest I don't know any gambling that expends considerable efforts on consumer responsibility and awareness campaigns or any other kind of aid for addicts. After all, addicts are a source of revenue so it is kind of a conflict of interest. In an ideal world, casinos owners should be ethical persons, but we all know that they aren't.

Displaying a label that you should "bet responsibly" is similar to the much more explicit warnings on cigarette packs. They have no effect on addicts as far as I noticed besides making them more anxious that produces more smoking.
233  Economy / Trading Discussion / Re: Trader took his own life after the recent huge dump on: July 23, 2021, 06:42:41 PM
That's sad man... Unfortunately, most people don't take into account or they don't want to see the emotional burden that is constantly put especially on newbie traders who are also more likely to take irrational risks as they are not yet in control of their emotions while trading. Even pros sometimes have trouble managing them, but they developed mechanisms to control that. That's the difference.

Trading is very similar to gambling if you don't approach it from a methodical perspective. Most of a trader's job happens off the trading hours. Documenting trades and analysing the markets and not pusing the buy and sell buttons randomly or taking positions that could terminate an account. And even if that happens, the loss of the account is not an "end of the road". It should be purely viewed as a lesson and opportunity to develop one's skills.
234  Bitcoin / Bitcoin Discussion / Re: Amazon jobs for bitcoiner's on: July 23, 2021, 06:31:20 PM
They are probably looking for both improving their internal processes by utilizing the blockchain technology AND start accepting cryptocurrencies. I think the latter would be a catalyst for a jump in Bitcoin's price. And the integration of blockchain tech like for eg. the tracking of products in the supply chain(s) would be another proof/vouch from a behemoth company that blockchain tech is here to stay and change the world.
235  Alternate cryptocurrencies / Bounties (Altcoins) / Re: [BOUNTY] TFStoken.com | $10,000 in USDT ~ 1 month | Twitter/Sig/YT/Articles on: July 23, 2021, 05:04:17 AM
#PROOF OF REGISTRATION
Forum Username: ChrisPop
Forum Profile Link: https://bitcointalk.org/index.php?action=profile;u=399267
Telegram Username: @chris_skyleaf
Participated Campaigns: Signature
Smart Chain (BSC) Wallet Address: 0xF49f4c935a7D659a851b38752E2b2Dc1b019663c
236  Alternate cryptocurrencies / Altcoin Discussion / Re: Youtube channels and influencers are currupt like the Mexican police on: June 22, 2021, 08:59:20 PM
I'm sorry to hear that you lost money because of them. However, I don't recommend investing based on other people's opinions. Especially some guy/girl on youtube. Yeah, you can consider their opinion on certain cryptocurrencies, but you should always dyor and come with your own thought processes. This is how you get smarter and your bank account will probably also be grateful. Smiley

I know a couple of pretty insightful youtubers that actually provide value instead of looking for fast affiliate marketing gains. They are not promoting shitcoins though AFAIK, but providing trading knowledge.
237  Economy / Trading Discussion / Re: what is point of Tehnical analysis? on: June 22, 2021, 08:50:07 PM
The point of technical analysis for a trader is to find patterns in the price behavior that he can exploit for a profit. Now that doesn't mean a strategy will work all the time and in market. Sometimes you need to tweak, scale up, scale down, backtest more, etc.

Developing profitable strategies for trading is no easy endeavour, otherwise we would all be out there printing money like crazy.  Wink
238  Economy / Speculation / Re: Do Not Sell! Don't Let The Whales Get Your Precious BTC! on: June 22, 2021, 08:39:58 PM
I'm every market cycle there will be people who sell because of FUD and people who buy because of the produced sell pressure.

The ones who accumulate now might be setting themselves for potential handsome gains in the medium to long term future, but everybody needs to understand that if Bitcoin recovered from each retracement, it doesn't mean it will do the same in the future. Neither that it couldn't make even higher multiple gains from these prices.

There is still enormous space for growth as Bitcoin as an asset class has not even reached the market cap of Gold. I believe it needs to multiply by 10x from here to touch it.
239  Economy / Economics / Re: Amateur Traders Cause Bubbles on: June 22, 2021, 04:57:08 PM
I don't think the "amateur" traders have the financial power to cause bubbles. Bubbles are a joint creation between all the market participants. After all if for example TSLA is trading at 1000x earnings that is the market consensus. Same with Bitcoin - amateur traders are unlikely to have the deep pockets to sustain liquidity at 5-6 figures levels. Sincerely, I haven't only read that the experiment was made on students vs professional traders. Come on.. most students' net worth is negative, not even talking about moving the market or causing any kind of bubbles - maybe the student loan bubble.  Tongue
240  Bitcoin / Bitcoin Discussion / Re: China FUD on: June 22, 2021, 01:46:32 PM
It'a shame that the chinese government is taking such decisions, but they are going to lose the most in the end. The chinese politic system is characterized by conservatism. It is expected from them to not be open to revolutionary technology, but that is a burden on them. They will soon realise that you can't live in nutshell where the whole world is heading more and more towards globalization.
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