People like us are never going to need something like a bitcoin bank but I'm not so sure about the rest of the population, I say this because we can secure our coins without too much of a problem. There is no point in having a bank for bitcoin, it is created for everyone to have complete control over your assets rather than trusting a third person and if people cannot understand the basic function of bitcoin then i doubt they will even try to understand what bitcoin is all about and how it can be used successfully. You are ignoring my point, people like us do not need a bitcoin bank that much is clear, we know how to secure our coins but in the case cryptocurrencies are adopted by an important number of the general population they will not know how to secure their coins properly. Some will learn how to do it but many will be victims of hackers and then they will try to find a solution to all of this, I know that bitcoin allow us to be our own banks but that also means we are completely responsible for our money and I can assure you most people are not ready for that responsibility. |
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Investing in USDT or in any stable coin is not really an investment unless the currency of your country is going trough severe inflation and you need to somehow protect your money.
But in every single other case it is better to not invest in stable coins, besides there are many that recommend to invest in altcoins but I do not see what you can gain from it when investors have been so focused in bitcoin and it does not seem to be any interest for any other coin.
I don't understand the point in investing in USDT. It is just a digital version of fiat, and it was created just to overcome the ban on fiat in certain jurisdictions. There is no logic in holding on to USDT, as it is prone to inflation, and on top of that there is a certain risk associated with that token (as we have seen recently from their issues with the Attorney General's office of New York. If I want to hold US Dollar, then I would go for either banknotes or bank deposits. I would never store USD in the from of Tether. Because although they claim to have 100% backup for USDT, there is always a chance of the funds getting seized or stolen. Why trust third parties to store your wealth? It goes against the principle of cryptocurrency as defined by Satoshi. As I said there are some reasons to do it but the circumstances are very specific, if the currency of your country is experimenting a huge level of inflation and you have no way to access a stable fiat then stable coins could help you with that. Another reason could be if you have strong reasons to believe that the market is going to crash then it makes sense to get stable coins, now why not get fiat? Because as we know this market can crash incredibly quickly and by the time you get your fiat you could lose a great deal of your capital. |
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It wouldn't be my first choice of a dream job, no. From what little trading I've done in my life both in the crypto and stock markets, I find it way too stressful and I've never made money. Being a day trader for a living would be like playing roulette for a living. Too random and maddening.
But there are some people who can do it for whatever reason, who have the intestinal fortitude and talent to make money. They are a rare breed, tho.
Most do not realize how difficult it is to day trade and this is even more true in this market, the volatility and the movements this market can make in a matter of minutes are not something that can be taken lightly. I consider myself a small investor and that is hard enough for me, I do not understand how those that day trade deal with the high level of stress that such an activity may generate and I have read some articles that many day traders do not last long no only because they lose their money but also because they cannot deal with the difficulty of the job. |
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I predict the price of Ethereum until the end of November is only up to $250 at its highest point. even then, if two resistance of $209 and $225 can be achieved.
following as my prediction. what about your prediction?
I do not really expect ethereum to move up during the whole month, but your prediction is realistic which is a lot more than what I can say about most of the predictions I see in the forum which say that ethereum is going to go up hundreds or even thousands of dollars before this year ends. But the most important question is if ethereum will reach those prices while bitcoin remains static or it will keep depending on the price of bitcoin to keep rising. |
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Next stop would be "bitcoin could be awesome but I still think it will go down to zero" or something, how could you still believe that something will go down to zero when you believe it has a partial store of value? I mean if it can store value that means it can't go down. It is like saying "this is a rare painting of van gogh, there is no other one like it, it is very valuable and whoever buys it could store it and sell it for a lot higher in the future, I think it will worth zero one day".
Do you realize how idiotic that sounded? Like really, HOW idiotic that sounds, well this dude sounds as moronic as that sentence if not more. Bitcoin is a digital commodity that has a store of value and a way of spending it as well that rivals anything ever in history of mankind and can't go down that much.
They never had any arguments about why something like bitcoin should not be incredibly valuable but now they are really desperate to try to find anything they can say to try to say bitcoin will not maintain its value. They tried in the past to use the stability of fiat as a sign that it was better but since then inflation is making sure we notice that stability is for nothing if our purchasing power is going down while we see the opposite process happening with bitcoin. |
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You are assuming that as soon as a new coin is listed in a major exchange it is going to go up in price but the number of coins that do that is very limited.
Most coins as soon as are listed in an exchange go down in price immediately as investors begin to try to find buyers for their coins and then they realize there is no demand for them, when they realize this they begin to panic and as a result of this the price of their coins begins to go down even more.
That means you are buying bad coins, so there is no demand after the main exchange list. Actually the value of the coin falls there are several factors that affect it, such as: • There is no demand, investors sell at any price. • Too many bonuses The most important thing for me to sell altcoin is more than the price you buy. that's the principle I use! Of course not, I am not wasting my time investing in coins with no demand, I only care about bitcoin and some altcoins like ethereum. And about the principle you are talking about that sounds easy in theory, you just need to buy for a low price and then sell for a higher price, but that is what every trader since the beginning of the markets has desired to do, but that is not enough, you need a lot more than that to get to your goals and unfortunately many of the tools you could use to help you with that like TA are useless with new coins. |
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If you look at any payment mechanism which is online and uses phones and internet, the scam rates are pretty high. Because it is easier to get into a device through Trojans or phishing sites and hack a system. Also, it is easier to manipulate people on internet into giving details as digital literacy is there but that efficiently. The situation is worse in crypto because it is more complex and requires understanding of wallets, exchanges and keys which is tough to understand. Moreover, there is no central authority to look after the crimes. This increases the problem.
Many complain about the high level of scams going on in the market but the same is happening with credit cards, hackers are taking advantage of the lack of culture when it comes to online security and they are making themselves rich in this way. But the problem is even more acute in this market because as we know there is not a central authority that will protect you in the case you lose your coins, we were supposed to take that role and it seems many people are failing at that task. |
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I think right now is the accumulation phase in crypto. The price is doing sideways while the price of altcoins are somehow increasing gradually. There isn't really much going if the whales are really manipulating the prices except them buying some altcoins which is why the prices aren't at all moving up. I say we are in the bullish and a break out soon will prove this statement.
We will have to see what happens, it seems there is a positive sentiment in the market and while this is positive it also makes me anxious since the whales are experts at manipulating us and this could be nothing more but another of their manipulations. I really hope the price goes up and we see something similar to what happened 2 years ago but I cannot stop but feel unconvinced since 2 years seems too short of a time to see bitcoin challenging its ATH. |
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I cannot imagine what can save altcoins right now. Even when BTC got pumped, altcoins were very silent, still hope that Bakkt exchange will achieve good volumes to attract legit investors to invest in crypto.
I have problems imagining what it will take to revive the altcoin market, bitcoin keeps growing and altcoins just react in a mild way and keep going down when compared to bitcoin. Anyone that decided to keep holding altcoins during the last year is probably regretting their decision because we cannot see the end of this, but I also think that this cannot last forever and at some point this has to change and when that happens we need to be ready since that is the moment to multiply our bitcoin. |
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The rules of trading are known to everyone, but the most important rule is to firmly follow these rules is often broken. Therefore, the main rule of trading is discipline and strict adherence to your previously drawn up plan. It is impossible to succumb to the temptations arising in the market, because the market severely punishes those who treat trading as a casino game. Only strict discipline and following your strategy can lead to success in the market.
It is interesting because those that could benefit the most from a strict adherence to the rules are the beginner traders but they are the ones that do not understand why they need a set of rules to begin with, so when the times comes they make the same mistakes the rules were trying to prevent them to do, when I think about this I cannot help to think that despite how much we would like to help the beginner traders to make money in the markets there are some persons that cannot handle trading no matter what we do. |
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I'd say it's primarily greed and the desire to earn something while doing very little to nothing. It's like a pipe dream that society forces unto us, "earning money while doing nothing is good." If you weren't taught how to think critically and assess opportunities before jumping in then you will most likely be scammed.
Sadly, what can we do? We can post all we want, announce scam projects, tell people to be careful, but in the end if they don't listen nothing will happen and people will still fall prey to predatory online scams.
Nothing can be done for people like that, people need to understand that those that got huge success during their lives are those that work really hard for what they have. You cannot really obtain something for nothing, no ones gives money away just because, we need to work for it, even those which are capable to obtain profits from icos are not obtaining money for nothing they are using their knowledge to tell which coins will go up in value and invest early, if anything they are taking a huge risk because if they are wrong they can lose most of their money. |
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US can't interfere with China plans. Yes it is another issue on politics I guess, Mark's project is under US government which is under their direct supervision. This is clearly Libra Project is just been holding by the SEC and Congress. How come they can't support their own member. Cause one thing I'm sure, US protect only those with their best interest unlike China that support their own. They are really one country one team.
If cryptocurrencies keep gaining recognition around the world then the US government at some point is going to want to release their own cryptocurrency. When you think about this it does not make too much sense for the US government to allow Facebook to release their own coin, they will have to compete against Facebook if they let them, and Facebook will also become something more than a social network it will become something closer to a central bank. |
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As the market gets bigger and bigger, the competition are also getting tighter, therefore its hard to find that x1000 growth again.
It only happened in the early stage where the market is still small and only dominated by limited number of coins like BTC and ETH, both of these have already reach an increase of more than x1000.
Many investors seem to be tied to the past, what we saw years ago and the profits some coins gave at the time were the result of very specific circumstances that are not going to repeat themselves. In the future we will see an altcoin season but it is never going to be as big as the ones we saw in the years before and even if there are some coins which could give those profits very few people will hold their coins to see them, after all if you are earning 50x or 100x are you still going to hold your coins? |
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Almost being in an altcoin season is not going to cut it, those holding altcoins are desperate, they have been enduring difficult market conditions for two years already and they are at their limit if altcoins begin to crash again. I do not know how those investors will keep holding their coins, and when you add scammers and their trickery and ieos asking more money from them then it is not difficult to realize we are in a extremely difficult situation and if it continues like this we could see the collapse of an important number of altcoins and investors. |
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I really believe that market correlation is one way of bull trap. The unexplainable surge of bitcoin price are just influence by President of China which contribute the advantage of whales to manipulate the price.
This is what I believe as well, it is too good to be true for the price to go up so fast and after it the price has remained at the same level for days. The whales are manipulating the market and are manipulating the perception you have of the market, just a few weeks ago it seemed as if the market was ready to go down even more and suddenly the price went up just when we needed it, and all that noise about China is just that and it is irrelevant for this market because China is not going to use a decentralized currency. |
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838 million percent but still undervalued I wish some of my holdings will grew like that in next few years. Yet we see people still complaining about the price too high for their budget even it is in bargain state. I'm still accumulating and looking forward on the scenario when all Bitcoins are mined.
That is what it impresses me the most, bitcoin has been growing in a massive way since it was created 10 years ago and it is still undervalued, then what kind of value it will have during the next 10 or 20 years. And even if I do not know the exact value it will have I know one thing, its value will be many times higher than what we see now and we need to make sure that no matter what happens we are always holding at least some bitcoin, that way we will enjoy some of that growth and benefit out of it. |
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I haven't been trading my bitcoins and cryptos since this year begins, but I have noticed that the hype train is slowing down since then, compared to last year. I want some honest opinion about the future outlook of BTC or crypto per se. Should investors invest in it ?
A very difficult question to answer since it depends on your goals, if you are willing to hold your coins then it is a good idea to keep investing, if the price goes down then you can get more bitcoin for your cash. But if that is not the case and you are only interested in getting short term profits then everything will depend on what happens during the next week, if the price goes up then we could see another important growth in the price of bitcoin but if that does not happen then it could be a good idea to be ready to get out of the market for the time being. |
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What makes us a good investor is about experience and also patience, because by having a good experience, of course, the skills have been there because with experience you will always increase knowledge about investment and what steps should be done before starting, and After all is decided with patience research, then we only need to be disciplined and remain patient until we reach a goal in the investment made.
Being consistent as an investor and taking very small risks is really important, there are many investors which got huge profits out of icos in the past and now they got nothing, why is that? Because they got used to get important profits without too much of an effort and as soon as they did not got the results they wanted they began making reckless investments and lost everything, while the investor which was happy to get small profits is still growing his portfolio to this day. |
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Those scam icos is not the fault of ethereum, ethereum has a very good management and trustful company with great people on it.
Those ICOs are just creating on erc-20 which is easy to create, and it's also the greatness of ethereum that everyone can make a token easily with their platform.
There are still many upcoming project from ethereum and i'm sure ethereum will get better in the future
Ethereum is not at fault, if scammers have been using their platform to scam people then this is simply because they find easier to create a project using ethereum than doing it on their own, and that was the purpose of ethereum to make it easier for people to create their own projects. What we need now is to try to inform people of all the ways scammers may try to deceive them so investors can distinguish between good projects and those that are scams. |
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It's okay, let us just take it as a lesson learned, I have been depressed too, I earned $20k from a token I am holding but thinking it will be $100k then it dumped and never returned, so the price now is only $2k, this was the biggest lesson in my life, I have move on so far and told myself not to expect much of it.
I am very sad to your story you should sell it at 20k$ or at least half of it and you can hold the other half . If you just get it free don't expect to much and increase the price base on your expectation not all the time will be in favor to you. Stories like that are very common, think about all the people that bought bitcoin in 2017 and thought they were going to be rich when the market was growing up every day. And then the market began going down and instead of selling their coins they kept holding thinking the market will keep growing only to be completely crushed when the market crashed during the entire year of 2018, the truth is that you need to be prepared and have a stop loss ready in case you need it. |
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