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3341  Bitcoin / Bitcoin Discussion / Re: My old officemate become millionaire on investing on Bitcoin on: July 16, 2022, 11:31:16 PM
Hold is really powerful strategy isn’t it?

Definitely yes if you hold bitcoin and other potential altcoins. But if you hold those what they call shitcoins, holding it for many years is useless if the project is just pump and dump. If the project has no updates and developers abandon it, exchanges could delist that crypto resulting for its investors at loss. So it's also important to DYOR, there are people that will give you an advice to invest only because of its hype.
3342  Economy / Trading Discussion / Re: Never sell for a loss - is a Myth !! on: July 16, 2022, 12:22:39 PM
Never sell for a loss only applies for people who are not good in trading and prefer to invest in crypto for long term. If your portfolio is down more than 50%, then there is no reason for you to sell to recover some money as you will just buy it again once the market goes up again.

But if you're a trader, selling for a loss to buy more amount in lower prices is possible because you're able to read the chart and can analyze where it is a good price to buy during the dip.
3343  Economy / Trading Discussion / Re: Would you advise a focus on indicators or the market itself for a newbie. on: July 16, 2022, 11:27:48 AM
Here is my advice. Learn the logic and philosophy behind indicators and you don't need to use many of them. Traders who use just horizontal support and resistances can be insanely profitable, while traders who use a myriad indicators like you see on youtube for example with all those fancy charts most of the times are unprofitable.

Using plenty of indicators also complicates your judgement in trading. Mastering atleast 3 for me are already good enough for me, RSI for overbought/oversold market condition, EMA/MA for support and resistance on different timeframe, and volume that indicates how much is being traded. It isn't necessary to learn more as long as your trades have high sucess rate in your technical analysis.
3344  Bitcoin / Bitcoin Discussion / Re: Hardware wallet demand increases in 2022 bear market as exchange scramble on: July 16, 2022, 10:33:39 AM
That only means that people are more aware now that holding coins on exchange is very dangerous. It also tells that they know this is the best opportunity to accumulate for the next market cycle. I hope that these people buying hardware wallets keep it in a safe place that they won't forget. If they lose access on those wallets like they forgot the recovery phrase, then those crypto will be lost forever.
3345  Bitcoin / Bitcoin Discussion / Re: FUD Has Finally Taken Its Toll on Me on: July 16, 2022, 09:37:58 AM
Three weeks ago, I liquidated 10k from my stock portfolio into my bank account. My plan was to dump it into Bitcoin as soon as it dipped under 17k. But now, for the first time since I got into crypto investing in 2017, I'm having major doubts.

It's normal to have doubts when these market condition happens. Even I am guilty to experience this before when I was a newbie. But as long as you trust bitcoin's potential in the future, what you can do is just ignore these fuds. Many countries have been trying to bring it down many years now but they've never been successful and its price just keep rising over the years.
3346  Other / Meta / Re: What Would Be Your Reason to Leave Bitcointalk? on: July 16, 2022, 08:45:32 AM
Let's be honest, signature campaigns is the reason why most people are here so if admins will ban those campaigns then I think active members will decline to more than half. People will just check this website to gather some info about the current trend on crypto space but will leave immediately once they learned enough. Other choices are not enough reason for someone to leave this forum permanently, they will always come back as long as they aren't banned and can still help them financially.
3347  Other / Meta / Re: differences in online crypto communities on: July 16, 2022, 07:50:36 AM
It's hard to tell which I use most often from the choices. I stopped using facebook for a while now to stay away with the toxicity of people in my country arguing about political issues. Reddit, bitcointalk, telegram, discord, and twitter keeps my time occupied and still be able to talk to others. People there are more private and only talks what is in the topic. You can learn more from them rather than using other social media where it just wastes your time.
3348  Other / Beginners & Help / Re: Some Reasons why there's an Increasing Crypto Scam Rate on: July 16, 2022, 07:03:25 AM
∆ Improper Education
∆ Friends and Environmental Influence
∆ Lack of Parental Care/Bad Upbringings
∆  Uncontempted habbit and Greediness
∆ Bad Government
∆ To Avenge/Revenge on someone

Those reasons are not enough for me to become a victim of scam.
  • There are some people that I know who are professionals that still invest on these too good to be true investment schemes because of their greediness.
  • Your friends or environment won't affect you if you know how the money flows on those scams. You know yourself that those investment schemes are just paying in the beginning to attract more investors.
  • Why would someone invest to a scam if he experience abuse from his parents. There are many things in life that will make you happy so why invest on something that will just give you more stress.
  • You will always be responsible of your investments. Government can't do anything like capture the scammer if there is no enough evidence or formal complaints. Even if they give a warning, some people that got profit first will defend those scammers.
  • If revenging on someone is similar to jealousy then you will just be the loser in the end once you lose your money.

∆ Iddleness and Joblessness
∆ Hunger and Poverty

This is the main reason why there are still people that get scammed. Their desperation for money is what drives them to engage to an activity that is extremely risky. Even me back in the days can't stop being tempted to invest because I don't know where to get money.
3349  Other / Beginners & Help / Re: AML - Anti Money Laundering on: July 16, 2022, 06:02:20 AM
They can make up literally any reason and call it suspicious. Using a VPN? Suspicious. Having too much money? Suspicious.

It's really dangerous to store your cryptocurrencies on an exchange especially if it's a huge amount. They won't allow you to appeal and won't tell the reasons why your account has been suspended.

This is why any of my crypto transactions that will be sent to an exchange goes first to my trust wallet which is a non-custodial wallet. You have the full-control on those type of wallets which can only be compromised if someone has your private key or seed phrase.
3350  Economy / Speculation / Re: Will the Mt. Gox coins affect Bitcoin’s price in August? on: July 16, 2022, 05:03:46 AM
If this was a bull market it wouldn’t be so bad. However you need to realize that if the coins are at once sent to their owners and then many of those coins are going to hit exchanges then people will short Bitcoin along with those people who are going to sell those mtgox coins.

There will be little liquidity and it can get ugly. In a bear market everyone is scared to buy and most people only sell. The picked the worse time to release these coins.

August is also what we know as ghost month so I'm expecting a downside even without Mt. Gox scheduled release of bitcoin. Inflation rate also keeps rising which will cause more people to liquidate their holdings to keep up with the rising price of commodities. As long as the issues told by coolcoinz are not solved or have a solution, we should expect more dump coming until next year.

-snip

3351  Economy / Speculation / Re: Do you regret buying before the dip on: July 16, 2022, 03:08:58 AM
A quick question for anyone here who purchased bitcoins say on June 9th just before the unexpected dip began? Do you regret your decisions and are you confident that bitcoins will bounce back?

Anyone who bought at higher will really regret what they did but if you know its historical price cycles, bitcoin always manage to go back up again after some years from a huge correction. What we can do is either sold it and buy at a lower price or hold it until the next bull run. You will also regret in the future if you will ignore buying now because this could be the last chance to see bitcoin at its current price.
3352  Economy / Trading Discussion / Re: Can trading be likened to gambling and how so? on: July 14, 2022, 01:50:40 PM
-snip

Your topic surrounds only to sports betting where a game's outcome doesn't rely purely on luck compared to other gambling games such as slots, cards, etc. that you can find on a casino or website. On those type of gambling, whatever strategy or analyzation you do, you need luck to win. Trading and sports betting are similar in a way that there are factors or medium that helps you to avoid the risk of losing your money.
3353  Other / Beginners & Help / Re: Question for Legendary Members on: July 14, 2022, 12:50:54 PM
To be honest I learned a lot of things about Bitcoin from this forum. Just you need strong intentions to learn and read forum discussions. Spend more time on the technical discussion board to learn technical things. Get involved with discussions and ask if you need to learn anything. Forum users are enough helpful to share knowledge with each other.

I've been checking that board lately but seeing the titles feels like non-techy people like me will find it difficult to learn and engage on those topics. Now that web3 and metaverse has become a trend, I want to learn more deeply about how blockchain works but don't know where to start. The topics on that board are even more complicated for me to understand because the terms used are not just ordinary words that we often see.
3354  Other / Beginners & Help / Re: Pictures on users profile? on: July 14, 2022, 11:49:43 AM
Just like reddit, bitcointalk is a forum and usually people on forum websites wants to remain anonymous even if they use social media platforms. There is no rule pertaining that you should use a real person's picture on your account and no one will also stop you if you want to use it. It's dangerous to reveal your identity here because sometimes the topics shows what's your financial status in real life.
3355  Economy / Trading Discussion / Re: Would you advise a focus on indicators or the market itself for a newbie. on: July 14, 2022, 10:57:59 AM
Indicators helps you a lot in planning your trades so a newbie must really learn about it if he wants to be successful in trading. If you don't want to learn any of these indicators then you're just basically gambling your money in trading. Learning basic indicators like MA, RSI, and volume is already enough to me for a newbie to start with. Once you know how to use these, you could strategize your entry point and selling point in trading.
3356  Local / Pilipinas / Nag-aacumulate ka ba ng crypto ngayong bear season? on: July 14, 2022, 08:20:50 AM
Gusto ko sana malaman kung may mga kababayan tayo na patuloy pa din na nag-aacumulate ng cryptocurrencies ngayong bear season kasabay ng pagtaas ng mga pangunahing bilihin.

Kung oo, pano nyo bina-budget yung pera sa pagbili ng crypto at real-life responsibilities.

Share kayo ng mga tips para sa mga kababayan natin dito na gusto din makapag-ipon ng crypto para sa susunod na market cycle.
3357  Economy / Gambling discussion / Re: People are not only gambling to win but they are buying entertainment on: July 14, 2022, 07:08:49 AM
This is just the same when gamers are buying games and consoles they want even if they don't get any money from it. Gamblers find the joy in gambling even if they lose money because it is the source of their happiness like they forget the stress or pressure of reality. Gambling provides them the entertainment they can't get anywhere.

And I think this applies to everyone not only to people that likes to gamble. We are willing to pay some amount of money in exchange for a temporary happiness.
3358  Bitcoin / Bitcoin Discussion / Re: Why not use Tether instead of Bitcoin ? on: July 14, 2022, 06:15:43 AM
Tether is a stablecoin which already tells its meaning, it's value will always be tied with USD. If you want to avoid volatility then putting your money on stablecoins is a good idea but if you are looking for an investment that could be worth long term then put your money into bitcoin. Having both for me is the best option because it balances the risk of losing your investment when market is in unstable condition.
3359  Economy / Speculation / Re: Bear Market Opportunities - Forget "When Lambo" on: July 14, 2022, 03:57:05 AM
Most people are afraid to buy during this market season but doesn't even hesitate buying at the top when cryptos are going parabolic. They think that the current market condition won't recover anymore with these fuds going on.

While there are others that know this is the perfect time to accumulate and prepare for the next cycle. Once market starts to go up again, these people will just relax waiting for their holdings to reach a new ATH and take profit.
3360  Economy / Economics / Re: Sri Lanka Economic Crisis is Getting Worse on: July 14, 2022, 01:50:00 AM
What do you think about the economic crisis in Sri Lanka?

It's my first time to see in that a country loses its president and I'm now curious how their country will recover from it. Plus what will happen to him since he already escaped to other countries. Will he be wanted because of what he did on his country. Since no one leads Sri Lanka and no future plans from their government, conflicts will definitely arise soon once they run out of necessities like food.
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