Can Bitcoin provide a way out of the world's debt problem? The current fiat world incentives debt through currency debasement and cheap debt. Too much debt can be a problem for long-term productivity and raises questions about sustainability.
Is bitcoin a possible solution to this mess? If more and more people start going from fiat to bitcoin, can we at least end up having a soft landing when shit hits the fan? Or will bitcoin exascabate the problem instead? Is there still hope for this world?
I think that you are trying to solve a problem with the wrong tool, you can't take out a screw with a wrench, that does not mean that the wench is not useful it mean you need to use a screwdriver, the point is you can't solve problems caused by fiat like debts by using bitcoin, and i don't think that this will change unless bitcoin becomes a globally adapted currency. |
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I have seen many persons come here to lament of them losing one or two funds in trading which is very obvious and need questioning of how and where they learn there own trading skill from. I have had of a crypto traders that lost all his funds in one day because of market volatility. This happens frequently and I think there is need to recall where the cause could be from.
Yes as a trader, losing one or two trades is part of the game but sometimes losing everything that had been accumulated for weeks, months is very painful and there is need to know whether it's due to ignorance or insufficient trading skill. Acquiring sufficient trading skill is very important in trading which can also help to get good results.
I usually ask myself questions whenever I have consecutive loses in trading, trying to know where I'm getting it wrong. This had helped me many times to get more trading knowledge that had improved my entire trading.
Insanity is doing the same thing over and over again, but expecting different results, if someone loses a trade he needs to look and reflects on what went wrong and not just blame it on the volatility of the market, because the majority of times it is based on poor decision making, so don't fall into the mistakes of many beginner traders who lose all their money because they keep adopting the same methods and strategies even though they are wrong. |
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The real beauty of trading in whatever asset you chose it, feeling the fulfilment from earning profit no matter how big or small it is based on your own decisions and strategies, and not based on some random ideas spread by people like op said selling dreams of getting rich fast, and once you get that rush you will get addicted to it and even if you lose you will keep trying to improve until you find the balance between talking the profit and managing the losses.
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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 government regulations on cryptocurrencies undermined crypto decentralized nature?
Sure governments ensure that things go in a certain guideline and following the rules, and sure you can say that cryptocurrency may in some way do the same, but the anonymity and the irreversible nature of the transactions that are made by cryptocurrency make it hard to control where to and for what purpose those transactions are going to, even though fiat don't that way but at least there is some form of surveillance and control over criminal and illegal transactions. |
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Google banning the ads to begin with was due to many scammers and dodgy sites that are using bitcoin as a way to steal people's money, and setting a bad example and a negative idea about bitcoin and crypto in general, and by banning these kind of ads even though not all of them are so, we have seen less and less scams involving bitcoin, and i am afraid that with them lifting it we might see them come back even though it was not the best solution for 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.
In my opinion taking small profits decisions is based on poor decision making or not being confident about your trade especially if you are trading with a good amount , if that so i don't blame you but if you keep on repeating it than you have a problem and you need to work on your strategies and your methods, because it is a bad habit and will lead you to make many losing trades. |
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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 ?
Even though that bitcoin is a great investment and you may be able to get some huge profit over a short amount of time, but it is better to set your vision towards long term investment, sure with the current news about many big companies such as Tesla and Apple and Amazon accepting bitcoin by the end of the year havering around, which may prove to be able to push the prices to a high price, but if things don't turn out the way you wanted, just believe in bitcoin in the long term. |
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Germany is well known for leading the world in technological advancement, and ever since they allowed the use of bitcoin and crypto as a whole it is no surprise to me to seem passing laws to double down on adopting cryptocurrency, and i personally hope that many governments and leaders see this and realize that the future lies with the cryptocurrency and rather than opposing it and banning it, they should embrace it and develop it
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it is clear that banks are basically under the control of the government.
it's true it would be great if banks could work with crypto but politics isn't that easy my friend. when an agency is shaded by the government, they will automatically use the rules in accordance with what the government proposes regardless of whether it's good or not because of course the government also doesn't want to lose from this.
and if banks cooperate with crypto, automatic dominance and government monopoly will be a little more difficult because their control will not be strong anymore because crypto is very difficult to control
In my opinion you have it backwards, it is the banks that are in control of the governments and they are pressuring the politicians to not pass laws and regulations that are favorable to cryptocurrencies, and it is not difficult to understand why this is the case, cryptocurrencies are direct competitors against banks and banks for the most part are a monopoly and they do not like the idea of sharing their power so they're going to do everything that they can to avoid this scenario and will only cooperate once it is clear that there is no way they are going to beat this market. I agree with you on the point that banks are afraid of cryptocurrencies replacing them, but it don't think that they are the ones that are directly influencing that decision, if you think about it the central banks controls all the other banks which is controlled by the government, because the value of a fiat currency is based on the economy of the country which is controlled by the different sides of the governmental institutions, which means that governments are the ones that control the currency, and by using cryptocurrency they won't be able to control it. |
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On one side, you have an authoritarian regime in Cuba, which also replaced a previously authoritarian dictatorship (Batista). The economy of the country is struggling, their people lack the fundamental freedoms and the regime can only claim that they all have a home, a job and the right to study. In the old days, medicine was also top class but that finished when US strengthened the embargo. Some people would be surprised to know that Cuba developed their own vaccine for COVID. On the other side, you got the US embargo - lasting decades and varying on intensity - a can of worms that no president of USA dares to kick for the electoral backslash. Are Cuba protests due to the embargo or due to the government? An on crypto, would bitcoin play actually in favour of the government, by allowing purchases anonymously or to possible insurgents? https://en.wikipedia.org/wiki/United_States_embargo_against_Cuba I mean of course that the protests are against the government, because even if the embargo was made by the the united states there is zero effort from the Cuban government to lift it which has been going on for decades now, and if this is a forced thing than bitcoin can be a really valuable resources for them to lift up their economy just by adopting it as a currency, i mean just look at el Salvador they have nothing to offer and they are a small country yet them adopting bitcoin as a national currency it seemed like a big thing. |
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I personally started investing in bitcoin when i was a student and i was working a part time job and i used to try and save as much as i can and put it to bitcoin, and i am talking here small amounts 20 to 30 dollars and even though i didn't try to optimize the time at which i invested it turned out to profitable either way, so if you are still hesitating about whether to invest because you have small amounts just do it at your own peace and have trust that it would be profitable because bitcoin is the future.
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I think that people have moved away from looking to crypto as a currency and they just consider it as an investement as any other, so even the value of it changes and it is looked at as buy and sell value, and when it comes to bitcoin even transactions time and fees do not encourage its regular use as a currency.
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My guess is most of the people that hate on bitcoin are simply doing so because either they haven't invested in it and want the ones that did to not succeed , or they have hidden profits in bitcoin failling, or they have invested in stocks and other commodities and seeing bitcoin becoming the number one investement goes against thier investments.
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It is good to see that people are more and more accepting of the fact thst cryptocurrencies have became and will a part of our lives, and even though it is not something that seems efficient or economical now sonce fees and transactions time is high, but implementing the idea in the people's daily lives is a huge step toward gloabal adaptation.
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I don't see that bitcoin becoming more and more popular could lead to it losing value, bitcoin has a limited supply and there is no way that we can create more past that point, that means the the more popular it gets the less supply we wil have and the more expensive it gets, but my concern is what happens to the transactions i mean i don't think that the bitcoin network would be able to process the transaction at a short time making it a viable payment option, and what about the fees, the harder the bitcoin mining becomes the more fees the transactions will have meaning if i wanted to buy something from amazon for 15 dollars i would have to pay 5 dollars in fees and it would take more than an hour for the transaction to be verified.
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Crypto and smart contracts could be a valid option to ensure the integrity of transactions and contracts, but to actually replace the whole government that is not something that i can see it happening, love it or hate it we elect government so that they may take decisions regarding things instead of us, but we can use smart contracts to monitor their decisions and the transactions that they do.
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I don't think that this is going to happen, i think its just a floating idea but in reality they won't be able to actually put it to work, the main reason would be because this a government owned oil company and not private so a decision to use the access energy to mine bitcoin can not go through especially we are talking about Saudi government that are known to being really strict and controlling everything about the country, and even if this is true we are trying to move away from involving bitcoin mining with consuming oil.
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Unless its a secondary job that does not ensure i eat or live for the night than i don't want to be paid in bitcoin, the reason for that is because in the real world you still can't buy the necessary needs or the day to day transactions with bitcoin, sure there are ways to go around this but what happens when you want to go and buy something for 10 dollars and the transaction fee turns out to be 4 dollars or it takes hours for it to be confirmed, bitcoin should be considered as an investment for the time being and not something that you have all your worth in it at least not at the current time, but i hope that someday we will be able to use it in our daily lives without worrying about transaction fee or time.
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I don't think that anyone still believes in compound interest, the reason why they used to be an option is because they were only a few options to chose from, the world is constantly evolving and in a fast rate and there are a lot of option to invest your money in, and a great example of that is bitcoin, where it has grown by a massive rate and still growing in just a matter of 10 years, so why would someone invest money to get a really small percentage of profit back in the same time frame.
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Don't so closed minded when taking decisions in trading, sure everyone say that you should go with your own strategy and what you see it right, but also you should always take in consideration other people's opinions because its the majority that moves this market and you don't wanna be on the other side, sure don't be a sheep and follow other people's advice blindly but its good to take others opinions in consideration
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