When Facebook introduced the Libra coin, is there any place in their summarized whitepaper that stated that the cryptocurrency proposed would be used for investment purpose?

Facebook created the coin to solve some payment challenge also that is found in the traditional market using the famous blockchain technology, and these coin will serve as utility coin that will be used for payment on their platform, and also a stable coin that will be used to make cryptocurrency payment without the fear of volatility, it is not every coin that you see in the market presently that serves as investment.

Look at tether, there are millions of dollars being pumped into it from time to time, but yet, it still cannot be used as investment. Libra also will not be different from that aspect.

I hear you, are you in there to know what they are practicing? Just the fact that their hidden activities have not been opened does not mean they cannot do it, and I am not also accusing that they are doing it. Integrity lies with God alone, as long as they are humans in charge of it, that created the site with the purpose of making money, the n they can be compromised.

Look at Facebook, with all the money that they make from advertisement, why do they still have to sell people’s data. You think money is ever enough for a man, if coinmarketcap has the opportunity to make so much money from listing particular coin they would, and if they are not, why would XRP even be on that position it has been retaining, and it seems like it is difficult for any coin to beat it when we all know that XRP is one useless coin that I do not know who the users are.

If you had traded in the right way and with the right strategy, you would not have lost your trade, and I can bet that you were the cause of your losses, it is either you margin trade or you panic sell. A margin trade makes you indebted, and once a trade goes against you, you will surely loose, so if you do margin trade, then stays away from that.

Secondly, if you trade normally, there is absolutely no way you will lose your trade, it is when there is a drop in value of your coin, and you click on stop trade that you lose, but if your trade has dropped in value, and then you wait for the market to balance again back to the position you started trading no matter how long, you can still recover your money, I guess you just have to stay off trade for now, and go for better training on trading and come back with the right strategy.

Second quarter of this year has really been a fulfilled one, it really made lots of increase a depicted in your picture, but I believe that the 4th quarter will really bring more increase, because this 3rd quarter seems to me like it is going to be for correction, there has been  series of correction this quarter that looks unending, but I believe that before we get to the 4th quarter, these correction will stop so that bitcoin can continue to hammer those barriers so hard and further gain more momentum.

I also see so many altcoins too having great increase in this 4th quarter of the year too, most of the coins that has remain so low in price will rise up with the little help of bitcoin when it goes side way same 4th quarter of the year. The time is almost here for us to brace up for it.

It is good to have a winning mentality, but we still have to know that in reality, there are times we will win and there are times that we will lose, and out of emotion, people want to quickly make up with their losses, but  rather than applying emotion like you said, we should just simply earn how to always strategize, if we strategize and we still loose in our trade, we should always take that losses as an experience, and as an opportunity to improve in our skill.

A time will comes that we will see that we have completely overcome our emotion, and then learn through our experiences that has made us a better trader. I believe that anyone can trade and be successful, provided that we apply the right approach to it, and we are committed to learn, then we can make it.

Centralized exchanges has actually defeated the object of cryptocurrency, because cryptocurrency is meant to be fully a decentralized system and should never have the involvement of thirst party, and the reason for creating this decentralized system is to eliminate all third party and also third party fees which usually makes the cost of doing business or making payment very high, but centralized exchange has already taken over and most of the exchange we have now are centralized and we have very few DEX.

The little DEX that we have does not have the volume to become successful which is why people are not using them that much, but I think the reason why DEX is not gaining much popularity as much as CEX is because of the inability of people to change fiat to crypto on it. This should be one of its limitations.

Well, you’re right… but what you should know is that there are lots of problems in this world and we can’t solve all of them at once. It’s good to start what can be accomplished quite easily before stepping up to the ones that are difficult. And by the way, there are already lots of charities that are handling the situations you have mentioned, but like I say, problems never finish, cause same problems keeps popping all the time and in different location. Maybe it is time for the government themselves to forget about their selfish desires and focus on the main problems that we have… That’s why they are called leaders, it’s their duty.

So because you were not able to buy them when they had bottomed means you have missed out? If the project is a very good one, and you trust that they will continue to grow in value, no matter what their price will be now, you can still invest in them, I don’t know of qnt because I have never heard of it until now, but I know of chainlink, chainlink is around $2.8 now.

I think chainlink will definitely still grow like 10x, so if you make investment in chainlink no and you are patient with it, I am sure that you will still be able to get enough profit eventually when there is a pump for it, or when the altcoins season started, I guess you missed out because you were doubting them, but you need to understand that the secret to knowing good ones is though research.

I think paper wallet is still the very best of storing these keys, you just have to ensure that you keep more than one copy of the paper wallet and probably laminate them too to avoid liquid contact that could destroy the paper, most of my keys right now as I speak are on paper wallet, let me then see where the hackers, scammers and all the bad bloods that we have in the cryptocurrency industry with follow to come and steal my coins.

I don’t have any of them online, because if I store it on my computer, I visit lots of sites and could be exposed to phishing software’s, I cannot because of crypto not open sites for other things, and if I store it in a flash, same thing could happen to flash, virus could even attack my flash, so I better stick with paper wallet alone. 

Well, I would not blame them, if I were them I would do the same too, that is the shit that scammer has turned everyone to, in fact I suspect to the extent of using their name to judge them, because I believe if any project has an intelligent team, then they should also be able to come up with a constructive name that sounds like a company name, there are so many project that I have participated in their campaign, and if you look at the majority of them, they have very funny shit name.

You may have done your research on this and be convinced based on your own level of your understanding, but you don’t know the intention of the developers themselves, I have seen so many projects start from 0.01 to 0.08 and then dump till they are now shitcoins in the market.

I never thought that I was going to use stable coin before until I got the reason to do so, but the first stable coin I thought of when I started using stable coin was tether and it has been useful for me till I started hearing some rumors of them over printing money and having court case with the government, so I pulled my coin out back to BTC, but recently when there was need for me to make use of stable coins, I went straight for usdc and that is what I am still using till date.

I am not totally relying on that stable coin too though because I see most stable coins as future scam that will be very disastrous in future, but when it comes to future, I think that I will shift to Facebook coin too, this is absolutely going to be more reliable than every other stable coins.

I would not advise that the government them up because they still contribute to the major reason why the economy of their country is booming, and whatever makes the government take any negative action against them, it will not only affect them, but also affect the economy of such country too.

What I would just advise them to do is to out a check on them, it is because of this power they are having that made Facebook to be bold enough to want to create a coin that he proposes they use globally, Libra coin would have just been limited to just their platform use, but to the extent of stretching it out to the extent of people thinking Facebook is trying to build a nations, I think there is really need for the government to thoroughly checkmate them.

I  doubt if it is United states, the fact that many people use the USD to trade as pairs for BTC does not mean that they are all from United State, I trade with USD and I am never from there so as many people that you see in this forum too. If the numbers of traders or investors from united states was that much, why would Binance pick up that courage to kick them out? I even learnt that the percentage of US citizens in biance exchange is just 14% .

Therefore,   I don’t think it is United states that controls crypto market neither. We could even say that it is china, because that is where 70%  of the miners are from, and what is crypto without the miners, so these is where we may say the control comes from majorly, even though they don’t have much influence in the market.

You think that record given is mainly because of exchanges that were hacked, I am not so sure, I think Binance for now still has the highest stolen fund from their exchange which is about 41 million dollars and I don’t think we have more than 10 exchanges that has been hacked, which means stolen funds through hacking is just little percentage of the scam figure.

To me, I feel where the major money is being stolen from is ICO market, these guys raise so much funds to the tune of millions of dollars and we have hundreds of ICOs that scammer as used to scam people which I believe this is what really constitute the major part of the figure. I just hope something can be done in this regards soon, especially now that we have IEO to curtail this to an extent.

Hey OP,
Are you paying attention to some hypocrites developers who blames their failure on innocent hunters?

They are mostly just using that as an excuse to hold someone responsible for their scam, we have some professional scammers that has already planned it out, they lure investors with huge discounts, enter exchange, dump the token , so that the project can disappear, investors blames it on the developers for not being active, while developers shift blame on hunters for dumping, and then investors shift their blame too from developers to hunters, that is the end of the story, once investors accepts his or her faith and forgets about it, then they have professionally scammed without anybody tagging it as scam, but as a failed projects cause by the dumping of hunters.

Cryptocurrencies are not a Ponzi scheme or get rich quick scheme, there is more to cryptocurrency than the reward you are looking for, it is when we create mentality of reward alone that makes us put the same mentality on other people that we introduce it to, and because they are not in for the system but the profit, they tend to leave the system as soon as they get little profit or if they eventually did not get any profit.

Crypto currency is what is to be used to solve some financial constraint when it comes to payment, whole the reward may come out of it in the long run, I understand that it also has investment function,but not every cryptocurrency we see have that investment opportunity, which is why we usually blame some projects that are really working but not so much growing in value.

Who would not want to associate with a company that is born with success, everything that surrounds Binance has been success, and most people, community, users, and projects that has in one way or the other associated with Binance has been full of success story from one place to another.

Look at this project now, they recorded very high increase when they were launched on IEO platform and most of their investors has made lots of profit on their investment, and I am sure that some of them would have pulled out their funds, but yet, that did not cause dumping for the project, they keep expanding, and keep bringing up different strategies to make them active and relevant, unlike some ICOs that after investors pulls out, it renders the project useless.

Well, people or would I stay projects never stopped trying their luck on ICO, and you could still see lots of ICOs springing up on a daily basis, they are all there in the ICO market for anyone to see, but the challenge they often face in lack of investors that would make them to reach their hardcap.

Investor of nowadays are not the investors of before, they no longer fall for any ICO that they see without first having very high conviction about the project, so I would say that we have so many ICO, but we have very few investors left paying attention to it, rather, their attention is all on IEO projects right now, and this is going to be the next booming phase, just like ICO was the main dominance in 2017. I think by next year, IEO would be the main dominance in the market which may make Binance quite stronger than Ethereum.

I think the sudden dump was due to the fact that we have gone up so much that people actually wanted to cash out their profits, if they could cash out their profits then they would profit and since the price was super low just couple months ago there was a lot of people who bought from those cheap prices and wanted to sell for double and even triple of their profits which caused the price to plummet.

In order to go back up we need to have people who are willing to buy from this price again and that is the easy task because people always buy bitcoins but also we need to have people who do not want to sell at these prices and that is the tough task, if we can convince the sellers to stop then it will bounce back up again, how we will do that is a mystery because if knew it then we would do it constantly and increase the price to 100k+ already.

I personally believe that 30k is quite possible sometime soon, I know it looks as if the price is falling lately and it has been trying to breach over 13k and failed multiple times so far and that is why many people somehow believes that the hype and bull run is over but in reality if you see the price keep going up and trying to breach than going down that means it still has a life in it that tries to go up but fails, its the time that it doesn't even try to go up that means bull is over, as long as it keeps trying than I will definitely believe the bull run goes on.

Since, the bull run goes on and there is not a big resistance left after 13k than I believe we will continue going up much faster, the biggest of walls only happens when you are close to it, when you break it than the next wall is always easier to break.