In my opinion, knowing which altcoin projects are scams and which are not is quite difficult, but usually scam projects always carry out very large discount promotions, and promise multiple returns, this needs to be avoided or further research needs to be done
That's correct. A project where the talk is always about the price rather than the product is one to avoid at any costs. So far, almost all the projects who work on the product and neglect all the price talks are the ones that do well. I joined the shiba Inu token group and everyone was shouting, to the moon and profit,etc while no one was actually discussing what it provides as a product. Anyone asking such questions was being removed from the group silently. There might be many warnings but I can roughly list out 3 warnings of a scam project. 1- Talk about the price too much instead of the product. 2- Hidden team or just no mention about the team 3- ICOs aiming a high hard cap |
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I would like to congratulate OP if he really follows these and he has been around for just 30 days. These are of course basics and there are many other stuff that you should be careful about but it is still awesome that he managed to get all of this in just 30 days, I know people who trader for years and still have no idea what they are doing.
At the end of the day, what is important is to make profit by doing the right things, because if you make a profit purely from getting lucky then it means that you are not going to get lucky forever, but if you make a profit based on true stuff then we are talking about something a lot more sustainable.
It is not easy to keep making profit after profit for that long, but it is definitely something that everyone should follow without changing their ways (unless they made a mistake) just because they had a loss, keep following your rules even in a loss.
Thank you el_kaka, for your kind words. And yes, I started like a month ago now and doing really good.  Also, I am trying to learn understanding the market sentiment and fundamentals, so i am really happy with my progress. Actually, the fundamental part is very important and I am really happy that you value fundamentals more than technical analysis. Often time people believe that once they have understood the concept of technical analysis, they have mastered trading but it's just a myth and remember a chart-reader is what all you become by learning technical analysis. It's the fundamental analysis that lets you achieve success in the long term because you start evaluating upcoming projects without looking at their market price. if you don't mind and it's not a huge task for you, keep sharing your trading stats like how you are doing each month and what new you have learned. I don't get enough time to trade actually because of my job and most of the threads are spam in the section, it feels good when someone actually shares their own record and learning with others. |
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I don’t really think so, unless you’re going to be making use of Twitter. With Twitter you’re going to be more likely to catch up with every trend on time and you can decide to switch on the notification bell for accounts, so that whenever those accounts tweets, you will see their tweets immediately in the notification and not miss anything at all. All those accounts you feel are very important, like analyst’s account, an influencer that talks crypto, you can just follow all of them and switch on their notification bell not to miss anything.
And also you can be checking the trends on cryptocurrency. But if what you’re looking for is a news website like CCN that will do all that, then I don’t think you will get any. Even most of these crypto news websites find their contents on Twitter. So with Twitter you’re getting first hand.
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Any cricket bettors here? It was such a close game of cricket in women's cricket, India winning it in the last over and the odds were swinging both ways all day. I was feeling like India women will chase it down because they had their most experienced player Raj on the crease but English bowlers on their soil are just too good and I made a small bet on India as a result, happy that it won but could have been much better. I am sorry guys but I am bad at soccer and betting on it, so please don't mind me discussing some cricket meantime. I have always felt there is no place better than sportsbet.io for betting on cricket and even the sportsbet.io's owner is a cricket player from my own little research so I am sure they won't mind it  . |
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The most expected scenario is that the crypt will have a certain status of a "limited asset", but the technology itself will be used both in the financial and, of course, in the banking sector, though with one caveat - all state financial systems are CENTRALIZED and nothing else! Decentralization in the financial system of the state = lack of state power, anarchy, and most likely the collapse of the state or its degradation.
First of all I do not believe that just because one nation decides to have a decentralized currency doesn't mean that it will be suddenly anancy, things are not as simple as that and I believe it is not going to be whole chaos that crashes the whole nation. However even with that in mind, we do not have to have decentralization as a whole, think about having your own fiat currency as a nation but also allowing bitcoin to be a currency that everywhere can accept. Look at El Salvador and you can see how it can be done, or look at Germany and how they are allowing banks to handle it as well. Just be supportive and turn crypto into alternative method of payment. Think about how you either pay with a card or cash when you pay somewhere, well add in crypto to that and it would be enough to shake up any nation and it will suddenly make things easier for crypto people in that nation as well. |
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We had hyperinflation of about 80-100% per month, which is very crazy. That lasted for more than a decade.
Holy crap, that is indeed crazy. I can't imagine having to live through that, even as a kid--but at least you got a taste of what it can be like when fiat fails. For most of the rest of the world, it's an abstract concept they've only read about in textbooks or online (myself included). And fear of hyperinflation is probably one of the driving factors of crypto adoption as of late. Just look at Michael Saylor and listen to how he views bitcoin; he's right on the money with his desire to own bitcoin instead of holding cash. I haven't really "lived" through it, but in my nation (not African) we had something similar a bit before I was born well into when I started school. My dad was making about 2000 per month salary a few years before I was born, and when I went to school he was making around 2 billion instead. That is less than 10 years in total, or just round it up and say it was 10 years, in 10 years his salary went from 2 thousand to 2 billion all together. That is the hyperinflation that you live, and in that case weirdly enough the whole nation still did better than we are doing right now, not because that was a good period, it was a bad period, probably worst since second world war economically, and overall we are much much much better right now, yet the reason why we are doing better overall is that rich are way richer, like unimaginable richer whereas poor are poorer, that is the only reason. |
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The price of Bitcoin has risen 1.5% in the last 24 hours after touching the $ 30,000 resistance level. Although the cryptocurrency appears to be recovering, some experts believe the situation could get worse.
I believe we have already tested the bottom of current bear market and now onward we may see bullish markets for next 1 or 2 months. We already started recovering which may lead to test the current ATH in coming weeks. I agree about crypto winter but that does not mean we are going to witness negative markets but we may not see a new ATH until end of August month. I am just speculating based on how usually crypto markets do trade by the times of July and August. In 2017, by August month bitcoin's soft fork of segwit was incorporated which led to new ATH but this time we are not having anything scheduled like that hence we may need to wait until September to see a new ATH. |
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For long term hodlers though FA becomes more important, except for bitcoin though, where you can hodl for years without having to an ounce to think about.
Except bitcoin? No. Just because of fundamentals of bitcoin is stronger, we are enjoying big profits after years of holding. So, holding was discovered as a profitable way of trading bitcoin through the fundamental analysis on bitcoin's economy rules and governance. Hence, I believe we are holding bitcoins with long term plans as per FA. In my observation, technical part is only up to 50% in our success rate. The remaining is depending on how effectively you are managing your risk and emotional things
Technical is only for short term trading hence your TA may valid for next one hour or one week still when a news arrive, you need to adjust your TA part again. So, I agree and in my opinion TA is just 10% for helping you to make profits. |
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Learning the technical and fundamental analysis could be separated from trading plans but how you make use of the signals you get from your analysis and how many positions and how much risk levels kind of things need to be decided before entering into live market and following them is "trading plan".
Yeah, there should be different phases of trading plans: pre-plan -- the preparation phase for getting ready to trading. actual plan -- how you are going to execute in live markets with the help of what you learned in pre-plan phase. Mostly what we do dream about profit making in pre-plans may not get full filled in live markets as market fluctuations are beyond our imaginations and also TA and FA are not as effective as we do expect. So, trading plans are just a roadmap on how you are doing to perform but the results from your trading may vary and depend on your skills and experiences. |
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It can be so draining watching charts all day and the negativity can seriously ruin your productivity, relationships and even your health.
You sound like a newbie trader rather than an experienced investor. I mean when you are going to invest or trade with bitcoin then you should be aware of its fluctuations and when you are trading with the expectation of unexpected fluctuations then you will never worry about it and then let it ruin your health. Dealing against bear market is not a big task for all bitcoiners as most of the times bitcoin markets are into bearish mode in its every cycle. When the market is ready it will pump again, so why wait doing nothing? Do something in the meantime and check back every now and again. You will be happier, more productive and possibly wealthier.
I do not think all the long term investors of bitcoin are simply watching price levels on daily basis and doing nothing. They must be busy on making use of dips; this way when you look for cheaper prices of bitcoins to buy more then I guess you will start loving bear markets as well. |
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I do not think that 4 year cycle is a must, and that is what we have seen during this increase. Instead of waiting and staying around the same price at halving for a year and increasing like hell, the price actually went up a ton for a year and then when it suppose to go up it started to crash. Do not put yourself in the same logic as the people before you, history repeating itself is not a guarantee and you will only be upset if you do not be ready for anything else to happen.
There have been a ton of people out there who end up with making predictions based on the history and then they have ended up losing quite a lot of money, why? Because crypto doesn't move in cycles each day, it is similar that is true but doesn't follow it day by day, so what happens is something that suppose to happen, happens a week early and you end up losing money because of it.
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This is basically another proof that Germany is the place to be in Europe for crypto stuff. After what UK did to Binance the other day, Germany is going the other direction and supporting it like crazy. I am not saying that what UK did was horrible, they are regulating and making it more legit so I am in full support of that as well but there is always a method of "just accept it as it is" as well which Germany is doing right now from the looks of it. I never expected it to be this easy for them to be fully embracing crypto, but by the looks of it they are. Moderate three digit means about 500? I mean that is the middle of 100 to 1 billion, so I assume something like 300-800 range is too wide to call moderate, I would say 400 to 500 million seems to be the way to go. That means it is also about 300-500ish in American dollar as well, that is a HUGE acquisition. |
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Oh boy, what is going on with the government's lately. First Nigeria and China and now also UK. It is not a ban yet on crypto currencies,but a first step. Why can't governments just leave the crypto world in peace? Regulating crypto services is a good idea, but banning them not. There are so many people now using cryptos, and most of us are doing it legitimately.
Lol well, this is not the end of crypto, things like this usually happen. In Nigeria people are still making use of cryptocurrency there, because from what I read, they all switched to P2P exchanges. So, I guess that will be the situation of other countries where cryptocurrencies happens to get banned next. But, let’s just hope that governments don’t continue with all these banning of cryptocurrency, seriously, it’s really bad. |
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Every person the virus is passed on to gives the virus the change to mutate and become harder to control. The Delta variant is already far more transmissible than the Alpha variant, which was far more transmissible than the original strain. The virus is being given the opportunity to mutate because of the people who continue to downplay the severity of the pandemic, and those are almost exclusively conservatives in every country.
The viruses and its variant might always come and go, we cannot really prevent these by shutting down markets and closing out shops. I hope by now the governments have learned that the solution is not lockdowns but following protocols and moving to work can lead to better results. As far as the virus pushing the world towards digitalization is concerned, I think there is no doubt that we have been forced to do a lot of things digitally which earlier we were doing manually or offline. Not sure how people will react after the virus completely vanishes, will they turn back to the traditional methods or get a knack of these online transactions. |
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I might have something for you, but please understand the demand first.
So one of my friends gambles online and he wants to remain anonymous and because of that one of his account was locked and he cannot verify it because obviously, he entered fake details while registering, if you provide service for such things then I can put you in touch with him, maybe. I don't recommend such services but since this is common in the crypto space, I guess it's okay to ask for it.
I repeat, he has entered some data already and you will have to verify the account with those details, if you can please let me know.
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I bought bitcoin when it was trading below $1000 and I am still holding it and I spend zero efforts after buying and keeping in cold storage. That cannot be called as passive income generation with respect to current price of BTC?
Honestly people are looking for peanuts by leaving off gold mines when they are hunting for passive income generation. Bitcoin must be a very good opportunity for generating passive income with comparatively zero risk. But probably people are looking for multiplying their bitcoins rather than gaining value in USD. Because, if you're going to risk in something with your 0.05BTC then if you may gain some 0.01BTC then you will end up in 0.06BTC but if you buy bitcoins for $100 (some 0.03BTC) and after 4 years of holding then your $100 worth of bitcoin will become $1000 but you might be holding same amount (0.03BTC) of bitcoin. But, I am into bitcoin holding for generating passive income as I will not bother about that I am gaining in BTC or in USD. I am just looking for making my networth to be growing over the years. |
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In my opinion, a lot of young people have joined bitcoin this year. I do not deny it, but it is necessary to humbly view many angles of the market. It is not possible to place blame and blame on them alone. No one has taught them how to better manage their finances in cryptocurrency by failing.
It happened and only that loss and failure to take on longer, more mature when it comes to bitcoin and shitcoins. at the same time, the details of applicable taxes will be their pitfalls when short selling.
So many traders have recently joined also because of the pandemic since a lot of jobs were taken away and people had nothing but time so that is one reason why the market has so many naive and inexperienced traders right now. There is a misconception among traders that crypto trading has a lot of money and I am not saying that it's true but it hides the fact that to juice out those profits you must have the proper understanding of the trading itself. It is profitable not because it's easy but because it's volatile and has a massive opportunity for growth, unlike the stocks market which is rather saturated. Being part of many trading and altcoins groups at telegram, I still see people being tricked by scammers by sending them the wrong tokens because there are decentralized exchanges now and anyone can list their tokens. It will take a while for most traders who are new to understand the basics of crypto trading and fundamentals to avoid being scammed or tricked. |
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