Well, I mean.. Bitcoin transfers aren't as fast as PayPal, for example. Credit card payments are instant and require no blocks to be mined to be confirmed. It's not the ideal currency and it will never be.
Both of these are custodial centralized solutions. You can't use a paypal transfer just like that. You have to first send money to your paypal account. If you sum up the time needed for your money to go from your bank account to paypal and then from paypal to the person you're transacting with it won't look so fast anymore. |
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Most gamblers don't lose this way because it's rare for a player to keep winning for a long time and then suddenly bet it all on one game or something like that. It's very strange that your friend did it.
I know two types of gamblers. One type is that little earner who always plays low stakes and saves up winnings. Plays with a certain pool and every win above that pool gets set aside.
The other type plays big and likes to place one big bet once in a while. If he wins he wins if he losses he goes back to earning it and comes back when he has some spare cash to spend.
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Most games are built in a way that playing them without money would be boring and would make no sense. Take dice or slots. Would you keep rolling for free? You'd get bored after a few minutes and leave.
There are some games people play for free and sports betting can be very entertaining even when the stakes are low but the majorirty of gamblers play and will continue to play for money.
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It seems the double top OP was pointing to wasn't really a double top but a continuing ascending triangle followed by a bullish breakout.
Now we have to wait for it to break through 7800 and it looks like BTC is on the right track to do so this week. I feel like this positive setup before the halving will give us some king of relief rally at the very least to test out 10 thousand once again.
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No trader will always be 100% correct with their trade analysis and trades. You just have to accept whatever the market gives you and bow out. Losing a trade doesn't mean the end.
OP probably cannot decide what to do. You either day trade and if the price goes lower after your purchase you sell at a loss and buy again to start a next trade lower, or you go for swing trades and if it goes a bit lower you keep holding waiting for it to bounce back up. If it bounces back lower than you bought you still sell at a loss and this is your failed trade but if it goes higher you profit. If you buy like a day trader but get discouraged by every small loss and don't buy back lower out of fear of repeating the loss you will lose the money anyway but also the chance to get back on track. |
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Most people should not be trading. They don't have the knowledge, skill or fortitude to do it and they never, ever will. I have no idea why it's touted as the first thing people should dive into. I guess the people encouraging that are the real traders who'll take all their money off them.
Also, trading on manipulated markets is extremely difficult. You could really have some good trades on Bitcoin before Wall Street came in with futures. Back then people were only blaming whale holders for messing up their trades. Now they have to worry about fake pumps that come from USDt, people who dump futures to buy Bitcoin and Buy Bitcoin to dump futures and exchanges playing the market make the most out of overleveraged traders. |
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snip~
That's why you walways need to be smart about it. People who knowingly break the law and then brag about it on social media aren't smart.
Spending can also be done in various ways. If you sell your coins withour exposing yourself through KYC and then spend it on gadgets, furniture and electronics no tax man is going to know about it. He is not going to follow you with a camera filming you buying a new macbook or a set of rims for your car. Buy a house and you won't be able to hide it.
It depends on your situation. How you got it, how you sold it, where you live, what's your income. Hiding a sale of 1 bitcoin worth 8 thousand dollars is easy when you earn 50 thousand a year. Much harder when you're unemployed on benefits.
Furniture or gadgets also can leads you to traced by the tax officials because you are buying it and you are getting a printed bill means it is getting stored somewhere.So you have to spend fiat as physical fiat in your locale will be good. Or just go for darkweb where you can buy anything with cryptos but 99% of offers you are seeing on darkweb are fake one. And how would tracing me with a bill work? I go to the store, buy something, get a bill that says date, time, name of the article and price, that's it. How does that point towards me? We could be paranoid and say the cameras are there and someone can see my face and recognize me, but that's not a murder case. Nobody is going to go through the tapes to try to identify someone who recently bought a tv with Bitcoins  |
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Tether literally printed out 600 MILLION DOLLARS worth of tether, we are talking about SIX HUNDRED MILLION DOLLARS!
Are you aware how much that money is? They literally sold over 6 billion dollars worth of tether to public so far, I can not believe there are so many people who are willing to buy something that has zero value and make it such a big thing, over 6 billion dollars just given away to these people for no reason at all, they have used it for all their expenses.
What is next? They are going to start charging taxes on what you spend your tether on? They are literally doing what the government has done with fiat for centuries and they are doing it illegally as well. I have done my warning a million times, anyone who gets their money stolen when tether runs away is an idiot who never listened to me.
I'm amazed as well. People trust this company that popped out of nowhere and made some false claims like the one that their coin is going to be backed by USD. When asked they were avoiding to give a clear answer to where their dollars are stored and finally admitted that they are only partially backed! So where's the rest of it? It's fake! If you did not understand and need me to repeat: at least 20% of tether in circulation is completely fake and cannot be redeemed in USD! If people decide to dump it make sure you're not one of the last people to do it because tether is one of those few tokens that literally can go to 0 and have no value because they will go bankrupt long before all of usdt holders are able to convert to USD. |
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It was dead to me the moment Charlie sold his coins. This was also the last time LTC was really worth big bucks and was looking strong.
It's still an oscilator coin that pumps and dumps with Bitcoin but its pumps are getting much weaker and in time it's going to barely react to pumps and go flat as people lose interest.
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Candles with long wicks appear when theres a big trade in that time period but it closes at the level of the candle.
Someone did a large purchase but the majority of purchases on that day were much lower.
Such wick doesn't show on other exchanges because it's the candle closing that counts for the indexes so nobody cares if an exchange wicks above or below the average.
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I joined a lot of airdrops. many of airdrops are scam. I already have 300+ airdrops tokens most of are valueless and others is scam. if i joined 100 airdrops there was 95 airdrops is fake or scam. I totally wasted my times.
That's because you chose quantity over quality. Last year you were able to claim grin, MWC and many other valuable coins but you probably went after some shitcoins that later failed to even find an exchange that would list them. |
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The silver lining is that you had those tokens from an airdrop and you sold during a pump.
You got free coins and sold them for profit while the market was in the green. Later it was even more in the green but that quote about a fool is misplaced here. You still made money so selling a token you did not believe in was a good idea.
You probably still did beter than most.
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In general OP is giving soime good advice but there's the funny part like not investing in dump coins  The truth is you rarely know that a coin is going to be a "dump coin" until it dumps and it's too late. |
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Great post OP and you're right. Your transfer took longer than usual but even in most favourable circumstances it takes 3 work days to transfer money abroad. If you do it on thursday the seller is going to get money on monday and ship everything on tuesday when with Bitcoin he'd have it in 20 minutes because most transactions get confirmed in the first 2 blocks.
Nowadays when you're offered 2% a year with 2 or 3% inflation there's no point in using a bank. For me it was never a matter of convenience more of getting a few percent on my savings. It used to be 6% about 10 years ago. Now that it's down to nothing I'm out.
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And it seems to me that the rate will grow because now scammers and corrupt officials will launder their money faster and will buy bitcoin to hide their dirty business.
You're like those clueless mainstream journalists who think all money launderers are doing it with Bitcoin and there's nothing else it can be used for but illegal activities. What are you even doing on a Bitcoin forum? Come down to earth please. 99% of money laundering is done with fiat with shell companies. Bitcoin is not completely anonymous and easy to trace. |
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I think it can be a safe haven. It's not looking like that to buyers who got it a few months ago but to long term holders who got it for less than 3000 dollars 3 years ago it's very much a store of value.
I feel like Bitcoin punishes nervous speculators who think about it only in terms of fiat value. Those who buy and forget about it for a couple years are fine.
I also don't agree with that statement about 95% of coins being on a small number of addresses. It only means that bitfinex, binance and coinbase have a lot of users and people are stupid and trust those companies with their money.
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Not always.
If you bought cryptocurrency for cash or got it for free somewhere like from a giveaway, a faucet, won in an online casino, got it somewhere else where you did not use your bank account or credit card and did not do KYC.
In short if you got your crypto anonymously you don't have to report it. It's impossible to trace it back to you as long as you don't sell it for fiat on exchanges.
If your situation is different you have to check how your country sees it. Some countries will want only to know about sales for fiat and other will want to know everything.
He specifically mentioned selling for fiat on an exchange. The higher the amount, the higher the risk that sooner or later you'd have to pay those taxes + penalties + possibly criminal prosecution. Even if you sell it for cash in person, or via an ATM without KYC, or use it to pay for goods and services, the more you spend without declaring your income/enough income, the greater the target you're painting on your back. Especially if you buy anything that leaves mandatory paper trails such as real estate or vehicles. Traveling around the world to expensive places and posting pics on social media for the world to see (pre/post-COVID19) if one is officially unemployed also isn't the smartest thing to do. The tax office could always randomly (or not so 'randomly') audit you and start asking questions how you can afford a certain lifestyle while declaring little to no income. So be smart if, say, you're officially unemployed but still want to enjoy nicer things. Of course it differs from country to country, but for the developed ones and the richer developing countries that's how it is roughly. That's why you walways need to be smart about it. People who knowingly break the law and then brag about it on social media aren't smart. Spending can also be done in various ways. If you sell your coins withour exposing yourself through KYC and then spend it on gadgets, furniture and electronics no tax man is going to know about it. He is not going to follow you with a camera filming you buying a new macbook or a set of rims for your car. Buy a house and you won't be able to hide it. It depends on your situation. How you got it, how you sold it, where you live, what's your income. Hiding a sale of 1 bitcoin worth 8 thousand dollars is easy when you earn 50 thousand a year. Much harder when you're unemployed on benefits. |
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My suggestion for newbies who post like you is always the same. Don't do it to level up your account so that you can post for money.
I know it looks tempting and when you hear that you can register on a forum and make some money for a single post about nothing you can't wait to start but the road to this is long and it's going to feel even longer when you keep waiting for your account to gain rank and merit. Forget about money for now and post like you would on any normal forum. This way you won't get discouraged or start looking for shortcuts.
Remember that money may come or it may not. You're here for other reasons!
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You have to report taxes when you convert it into fiat money with your bank accounts because it is possible to see that from where you go money and if your government has regulations for taxing crypto income then ou should file taxes based on it or it will just come under normal income tax depends on your country as well.
Not always. If you bought cryptocurrency for cash or got it for free somewhere like from a giveaway, a faucet, won in an online casino, got it somewhere else where you did not use your bank account or credit card and did not do KYC. In short if you got your crypto anonymously you don't have to report it. It's impossible to trace it back to you as long as you don't sell it for fiat on exchanges. If your situation is different you have to check how your country sees it. Some countries will want only to know about sales for fiat and other will want to know everything. |
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China will not be the cause of the rising price of Bitcoin... China will only cause Bitcoin to get worse, I have no respect for China. *walk out I feel like their government has a way of turning any positve news regarding Bitcoin into a negative one. Their exchanges manipulated the volume and focused on wash trading and their FUD tweets about government trying to do this or that are the worst. I have just one question. How are the Chinese going to pump Bitcoin if trading is illegal and there are no exchanges? |
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