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2661  Economy / Economics / Re: Poor and middle class as a mentality on: June 29, 2021, 09:33:48 PM
This has been the bedrock of every single rich person in the world. Jeff bezos had wealthy family, elon musk had wealthy family, warren buffet had wealthy family, bill gates had wealthy family. Look at the forbes top rich list and you will see kids of wealthy families, I am not saying that they didn't build something of their own, of course becoming the richest person alive was a success, but they didn't reach there from a very poor family and a poor community school type deal, they all came from wealthy family and a great education.

At the end of the day if you are dropping out of Harvard, that is already saying so much about you to being with. Poor people who barely got anything to show for will come to a place, you do not have to stay poor, but you are not going to reach to places those wealthy people reach, they have advantage over you.
2662  Economy / Gambling discussion / Re: Motosport General discussion tread --- Formula1, MotoGP, WTCC, ETCC, DTM..... on: June 29, 2021, 09:15:19 PM
On the one hand, it looks a little unfair when such changes are made in the middle of the season, because it is desirable that the rules are set before the season and the teams clearly understand how to act and what to expect. On the other hand, these pit stops for a few seconds gradually distort the very idea of pit stops as an element of tactical struggle due to their short duration and this can really already affect the safety of racing from a not very positive side. Therefore, I do not approve of changing the rules in the middle of the season, but I fully approve of the direction of thought.
Also I do not understand why would anyone want to make something slower... in a race? Like if the pitstop could be 0.5 seconds then let it be, I know that is not possible (or at least for now) but shouldn't we want everything to be faster and faster?

When you are doing something that is hurting Red Bull there is only one thing people will ask; Why are you helping out Mercedes? Because let's face it FIA is literally helping out Mercedes here, they are basically trying to force Red Bull to lose in order to get Mercedes to win again. Is Mercedes win mean more and more money for Formula? I mean do they make a ton more money this way? I doubt that, people would love to watch Mercedes finally losing, so I do not understand but I am 100% certain that FIA is doing all of this just to make sure Mercedes has clear advantage again, which doesn't make sense to me at all, why are they doing it?
2663  Economy / Speculation / Re: Repeating the price cycle every 4 years on: June 29, 2021, 08:02:45 AM
BTC will grow to 300 000 dollars soon, price became 1100 after 6 months:
I agree that bitcoin may test $300k with this cycle but I really could not figure out what you are referring by "after six months" and 1100. As per my observation also, bitcoin market is having repeating cycles because we are having halving to be repeated for every four years and pumps and dumps are happening in a pattern so everything will occur in a recognizable pattern for sure.

Bitcoin prices may get doubled or tripled from the current levels before we are entering into the 4th quarter of 2021 and then the 4th quarter of 2021 will be magical as real FOMO will happen at that times.
2664  Economy / Speculation / Re: Why is bitcoin plunging? What is the reason for this? on: June 28, 2021, 09:56:26 PM
There were many things/events are causing the market price of Bitcoin to fall, but I think this is what’s expected to happen after a bull run, and let’s say maybe a lot of people are starting to cash in their profit and that’s why the market had been falling.

Most of us wants the market to go up steady so that we can keep making a lot of profits, but it doesn’t work that way, there is definitely going to be a bearish trend at some point. Although one thing I have noticed is that the lowest is usually above the lowest in the past. So right now that we have seen the price go as far up as $65,000, when it drops it’s possible that it might not go below the price of $28,000.
I know that we are not going to be able to actually fix this easily, I know that it is going to take time to recover back to 40k+ and price tries to haggle above 30k right now, reached 33k back recently so that is a good thing, but still far away from 40k. However it is obvious that it is not going to be easy, it is definitely a troublesome situation that we need to learn how to handle.

Every time it drops there are people who think it is crashing and panic sells their coins, every time it stops going down there are people who think it will skyrocket right away and buy, maybe we should be a bit more calm. Look at the volumes and liquidity, it got so much bigger in the recent year alone, it has been really crazy, I personally would want to see crypto doing great, but I do not want it to go up super high if it is going to crash back down again so quickly, I want it to go up slowly but steadily and stay there.
2665  Economy / Speculation / Re: Why is bitcoin plunging? What is the reason for this? on: June 27, 2021, 05:33:51 PM
I agree it was not a freak out, not in terms of how deep the markets crashed (as they did not really) but I was just saying that people do have the right to freak out:) And I am happy that they do,,, because it keeps us below rally levels for longer, meaning much more powerful and longer rallies when they eventually come:)

For me, everything that happens is good, for the long run!
Yeah they do have a right to freak out, which is understandable, I just wanted to say it is not all freak outs, otherwise not trying to say people didn't freak out at all. What we have in our hands are both freak outs and also the bad people that is what I wanted to say and that is why I said 50% because freak outs do happen.

I mean look at how many people act so bad towards bitcoin, people who usually do not invest or maybe invested and lost, that is why I think it is very bad for them to do something like this and I hope that they don't but people who will hate bitcoin will come more and more, because we have more and more people who love it as well. So just accept the fact that they exist and you would be fine. Once again this isn't to say that people didn't freak out, that make sense, this is just to say it was fine and nothing special and there were haters along with it.
2666  Economy / Trading Discussion / Re: Risk Management in trading cryptocurrencies ...?? on: June 27, 2021, 02:55:32 PM
there are tons of strategies are available but most traders are simply going with what their mentors/friends suggest and that's why we do see most percentage of traders are with same kind or slightly modified strategies and the results from crypto trading is also almost similar regardless of our capital nor experience levels.
I guess it would be much better to go with something which is already tested by known people rather than innovating something or trying something which is completely new to us and for our friends and colleagues, right? I am also using few of most famous strategies because I got trained to make use of them and I verified them in real world market conditions when my friends were executing those strategies.

Adopting the strategy which is already known and tested also must be part of risk management. Fortunately, most traders are already into this without actually aware of what they are doing.
2667  Bitcoin / Bitcoin Discussion / Re: Do you worry about not being able to convert BTC to fiat in future on: June 25, 2021, 02:28:22 PM
With banks in some countries blocking transactions from known exchanges is there a worry that one day it will become impractical to turn the BTC into fiat? Either just very hard to do, maybe street-corner-deals or at risk of getting your bank accounts frozen?
Do people think about this and have plans to work around these kinds of banking barriers? Or are there ways around it already but I'm not aware?
This is an old story, everyone already knows how to deal with this kind of problem.
Try to be following up with the news, especially about countries where cryptocurrency is banned by the government.

Just like in Nigeria, India, and others where their government is tackling the use of cryptocurrency in one way or the other. This never stopped people from making use of cryptocurrency, rather it even made these countries one of the places that it is being traded the most. That government stops a centralized exchange doesn’t mean it is over in that country, people quickly moves to decentralized ones and continue with their trades.
2668  Bitcoin / Bitcoin Discussion / Re: I feel uncomfortable if I don’t buy on: June 25, 2021, 01:32:05 PM
I started putting 1k into Bitcoin every time it drops by 5k since 60k. And I ran out of funds a little while ago.

The fact that I can’t buy this dip just makes me extremely uncomfortable.

It makes me feel shifty and nervous of the fluctuations. Whereas before I looked forward to it falling so I can just buy.

I guess this is the part where I wait.
So what’s your status, I hope that your investment hasn’t been very bad now that the price has fallen double of what the ATH price was? I can’t tell you when the price of Bitcoin will go up, but as to whether the price would go up? For sure it will go up. The only thing is that you can’t tell when it’s going to be.

Moreover there is no need of selling your coins when you’re at loss. Whenever I invest and the markets get bad, I don’t sell my coins, rather I would leave them and wait for when the market will recover so I can make my profit. If you sell now, there is no way to recover what you have lost
2669  Economy / Gambling discussion / Re: Why the martingale system sucks! (doubling down on losses) on: June 25, 2021, 08:01:12 AM
you can simply play first rolls at 1 satoshi bet, and only after a "certain number of losses" you start rising bets!
Could you please put some more light on this? Do you mean that you need to stick within 1 satoshi bet for some times before increasing the bet amount? How do you come to know the exact number of "certain number of losses".

For example, if you stick with 1 satoshi bet for 5 rolls, and your 4th roll is positive then you may not get chances to recover your previous losses.

Martingale strategy is all about "immediate recovery of losses before going for another round of betting". It means if your 3rd bet is a negative then you need to go for recovering it from your 4th bet onward until you find a positive roll. So, immediately doubling your base bet from the next roll onward alone will serve the purpose of going for martingale strategy. Keep sticking with same bet amount is definitely not a martingale strategy.
2670  Economy / Speculation / Re: What's up with the recent decline? on: June 25, 2021, 06:56:19 AM
There are some altcoins that aren't down as badly as popular coins like ETH and BTC.
There are no surprises on seeing most of the altcoins are down right now, one of the prime reason for this is, when investors and traders are in bearish mode, they will probably book profits in all their investments (most traders and investors are always good in diversification) and they may not think about buying further until there will be a change in the direction of market.

There were multiple reasons why we are having big correction right now in entire crypto space. China's ban on crypto operations must be one of the big one along with Elon Musk's negative comments on bitcoin mining operations.
2671  Economy / Speculation / Re: It's a good time for bitcoin on: June 25, 2021, 06:26:59 AM
Our footsteps are being followed by more and more countries every day.

Bitcoin is becoming more popular every day.
This has been happening over a decade of time and just because of that only I am here. In rough estimate, within another 10 to 15 years of time, more than half of world population might be aware of bitcoin and might be holding some bitcoins. Overall in my opinion, it is always a good time to buy bitcoin with long term plans and when more people agree with me, I guess up to 80% of world population might be aware of bitcoin somehow.

Its summer and people are travelling and most markets are choppy, including stock markets. There is less volume and moves are smaller than average and its very easy to get caught up in this chop.
There might be multiple justification for why we are having sideways right away but accumulating right now with plans of year long holding will get definite profits. Like most other people, ATH of 2021 is yet to be attained.
2672  Economy / Speculation / Re: Why is bitcoin plunging? What is the reason for this? on: June 24, 2021, 08:41:00 PM
people do have a right to freak out and if nobody did, we would never be able to have all these wonderful opportunities to get Bitcoin at the dips or to enjoy longer periods of accumulation. 2018-2020 was the wonderful time for me, people freaked out and delayed Bitcoin getting to 20k again. May it happen much more for all of us who have yet to achieve our Bitcoin dreams:)
Not all the drops are about freak outs, I mean sure some people definitely freaked out but I believe there is 50-50% in both of those. First of all the drop wasn't all freak out, maybe half of it, the other half was selling to buy cheaper, the liquidations and many other stuff bla bla, but it wasn't all people panic selling.

Secondly not all the people who say bitcoin is dying are the people who sell and fear it will, some of them are people who just hate bitcoin. I have seen people who never bought a single satoshi in their life go crazy happy about bitcoin going down, it is just bad people I suppose who do not want other sto profit from something they didn't profit from, if they are poor then everyone should be poor instead of everyone should be rich, that is sort of the mindset. At the end of the day not everything is all good and not everything is all bad.
2673  Economy / Trading Discussion / Re: Cryptocurrency Market Manipulation Logic? on: June 24, 2021, 08:14:44 PM
can explain the reason behind those huge pump and dumped of BTC?
When there are possibilities for happening of pumping, then you need to be prepared to face dumping also. No market can move in one direction all the times but basically bitcoin is designed to have huge value over the time due to its limited supply hence we can expect bumping to be happening over the years but in between years we can expect dumping also to be happening which may happen up to 70% of each ATH (as that past events).

Crypto market is untrustable as any person having a status/huge bank balance can easily manipulate the market as Elon Musk did.
No, you are wrong. If bitcoin is not trustable just because of with the reason of easy manipulation, then how you got chances to see bitcoin is growing from $400/$700 to current levels of 30k+ ? People who are investing into bitcoin must need to understand its high volatile nature. If you're able to hold it for years then you can easily eliminate the problem of high volatile nature of bitcoin.
2674  Economy / Trading Discussion / Re: What are your trading strategies ? on: June 24, 2021, 07:41:13 PM
The most basic I always see is you wait to buy at support then sell it near its resistance which is the only strategy I know and can understand. I often do this at 15mins or 1hr timeframe and so far its effective for me.
Support and resistance based trading with the small timeframe? I'm not sure how effective this will be because when your timeframe is very tiny, probably you will never get strong support or resistance levels which means market may or may not obey such  levels hence if you're waiting for the reversal of direction at those points, it may not happen all the times.

Each of us has its own strategy in trading that we find effective, as long as that strategy works for us I think there is no need to do or copy the strategy of other people. If we keep sticking to the strategy of others then we might not learn anything from trading.
Honestly innovating new trading strategy is not that easier. I appreciate people who are copying other's strategy and then improving it according to their preferences. I mean you may not need to innovate new trading strategy but you can customize existing one as per your risk management.
2675  Economy / Gambling discussion / Re: ⚽UEFA EURO 2020 Discussion Thread | Current Phase: Finals in June 2021! on: June 24, 2021, 05:15:19 PM
The fact that Hungary turned out to be the weakest in the group is not surprising, this result was predictable. Yes, Hungary played very decently, with three games they playd draw twice, in such a group it is a very decent result, it is a pity that they will not continue their participation in the tournament further, I think they had very good prospects to fight with the strongest teams.
They were the bottom of the group but they weren't that weak. Everyone was expecting Hungary to be zero points and maybe even zero goals but on contrary to popular belief they got 2 points out of three games, that is not something people expected, it is really a cool result if you ask me. The other three were looked like they would go up anyway unless something major changed, and all three did went up and that's cool to see.

I wouldn't want to miss out on their games and watch some other weaker them just because they were in an easier group then these three. At the end of the day we are doing so much better as fans, the teams that are left going to have elevation games and they are usually much more entertaining to watch. This is why I am hoping that we are going to see better odds as well, since it is elimination I believe odds will be higher for even favorites so we may make some good bucks.
2676  Economy / Gambling discussion / Re: Be a Responsible Gambler on: June 24, 2021, 07:20:54 AM
for me, when a gambler still has good awareness and control then it is a responsible gambler. This case is not only about the money spent in gambling, but about the impact of the actions you take and when you can keep them well then of course, you are still a responsible gambler.
There must be tons of different definitions available for finding responsible gamblers because there needs to be multiple things a gambler must take care to achieve the level of responsibly gambling. Still I agree, not only how you are gambling will not define you as a responsible gambler but how effectively you are handling the consequence of gambling also should be considered to call you a responsible gambler.

If we use money from a loan or selling important items at home, it is no longer healthy gambling. This will lead to losing everything.
All those unhealthy things happening around the gambling should be easy indications for a gambler is going irresponsible with respect to their gambling activities. Unfortunately when we are into gambling excitements (later same turns as addictions), we definitely fail to distinguish what are good and what are unhealthy.
2677  Economy / Gambling discussion / Re: Football Transfers Speculation, Odds and Predictions on: June 23, 2021, 08:55:24 PM
Hakan Calhanoglu move confirmed
Chelsea were briefly linked with a move for Turkey international Hakan Calhanoglu when the summer transfer window opened.

The attacking midfielder's future had been up in the air with his contract at AC Milan expiring next week.

But there will be no more talk of Calhanoglu arriving at Stamford Bridge this summer as the playmaker has sealed a move to Milan's bitter rivals Inter.
Hakan was a great part of that Milan team who nearly took the crown for like half of the season, things didn't look that great afterwards but they were looking great. Now he is part of the team that won the championship instead! That is going to change a lot but we still haven't seen why Conte left the team since the gossip was about Inter selling very important players and Conte didn't want to be part of anything like that.

Let's see what is going to happen, I am sure that Inter will sell some players but I do not know who they will sell, it is going to be nerve wrecking for Inter fans to wait and see.
2678  Economy / Speculation / Re: how many more times should you fall for the same FUD before you learn? on: June 23, 2021, 08:34:27 PM
nobody said miners moving out of China is the FUD. the FUD part that causes panic is when they say that this migration is going to mess up bitcoin (they go as far as saying kill bitcoin) and saying it is a logical move to sell it!
and it is not just the FUD, we are talking about a bigger market manipulation at work with FUD on top. all the dumping that starts by the manipulators or the fake big sell walls that kept moving up as price kept rising.
Miners can move as well as sell, when they sell they are not selling it to a garbage, they are selling it to other people and those miners will still work and protect the system anyway, blockchain will be fine. And if they just move it? Well all the same. All that is going on right now is a break period where miners will or already not working and eventually move or sell they will once again start to work and make a difference in the blockchain. That is why I believe that is not the reason of the FUD, miners could do whatever they want and it will not matter.

The only time we should care about the miners would be during halving because that always comes out as a bull run sign, has been for the past 3 halvings and I am sure it will on the fourth one as well. That is just how it works, miners only cared during halvings and all other times totally ignored.
2679  Economy / Speculation / Re: May 13th, Bitcoin will surge to $70k or it will be dump? on: June 23, 2021, 08:14:20 PM
beyond all expectations what is happening right now, but it is real that there has been a very deep correction due to the bad news that came together and caused bitcoin to decline even though the price was about to increase and was able to reach ATH $64,804.72 - Apr 14, 2021, but finally now have to go down and not happen to achieve the predicted goal.

This should not have happened if we did not respond with excessive measures because if it was done like that the market would be volatile and it was inevitable that there would be a decline. but bitcoin is used to experiencing this and will be able to gradually increase again, I'm sure your forecast will be passed when entering the end of this year.
I do not think that we are here just because we have over-corrected, we have come here because of technical stuff. What are those technical stuff? They are stuff like auto liquidations and stop losses and all that, some people did sell of course otherwise how could it go down but there were a ton of those automatic stuff as well, and do not forget trading bots, they all sold as well when they saw it going down and there are tons of them.

So "normal response" happened, and it wouldn't be this low now if it was just that, all those excessive came from automated stuff and that is why we are even lower. There is nothing wrong with it, it helps us going up so it is bound to hurt us when it goes down, we have to take crypto market with the bad if we like it when it is good and there is nothing wrong with that. Just let it be for now as it is and it will go up.
2680  Alternate cryptocurrencies / Altcoin Discussion / Re: Bear Run and the end of many of the Meme/Sh*tCoins on: June 23, 2021, 06:22:19 PM
I can't name the meme coins that have wrecked the market. Even then, during a bear market, they will be carried away faster than other altcoin prices that are still considered not classified as shitcoins. that's the impact when everyone continues to glorify memecoin that relies on tweets and tweets. Their weakness is very clear. and the crypto industry doesn't need a full tweet just toying with the price. it is no longer decentralized, but centralized.
I wouldn't really claim it "ruined" the market but it didn't help that dogecoin got up incredibly high, it was literally 0.003 cents, now it is 23 cents, and at its peak it was 70 cents! You know how much money required to make a coin that high? Too much, billions of dollars total need to be bought and not sold in order to make it that high.

So, did it ruined? I do not think so, but it sure did not help because instead of a lowly memecoin getting that much attention, if we had like the top three got that attention we could have seen them a lot higher, give the same amount of money to bitcoin and we could have been 70k+ easily, maybe even more. So was this drop caused by memecoins? I am sure it was not, but it also hurt the fact that other coins at the top could have made us all a lot more money but instead it just went on a coin that eventually became a joke.
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