I am unable to understand this concept i mean just because creation of something took a certain amount it's not necessary that this value will be it's fair market value always. For example if construction of a building takes a certain amount it's obviously hard to say that this value will be it's fair market value because cost of an exact new construction might have increased due to inflation or gone down due to some pricing revisions of material. |
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Is good to plan, don't live your life on a plata of Gold. The first time I had bulk money was during my higher institution days, as a student we know and hear too many things but only few chose to do something, opportunity of MMM, crypto currency and Achievers forum sorry mentioning them here came to me in school and I grasps it and as God may have it, I make a lot of money but the first thing that came to my mind was to buy car, I bought two cars, place one as a taxi and one private use as school big boy but non of this happen to play out well.
The Taxi cab had an accident and piece in bits and I sold it out auction price, same thing happen to the one I was using in school and it was a tragedy scenes, it was sold as Scrabs. I used the remaining money to live extravagant lifestyles, going out with friends, carrying girls to where we can't ordinarily afford bills, buying wears we don't need, gadgets and accessories we don't match our income or status but all this turn out against me. I lost almost everything, for two years after my school I could afford a dime, no job, no source income, I have nothing in my bitcoin wallets, life balls back to zero level.
Today I can boastfully said this not to impress you or give you a plan but is good to plan your life, know what you want per time, avoid impulse buying, avoid competition, avoid extravagant lifestyle, have a routine, draw your scale of preference, learn forgone alternative principles. Life on earth is short if you can't get it right, and life is hell if you're not living it right.
Obviously yes. I remember the old quote saying, failing to plan is actually planning to fail. So technically whenever you are not planning anything you are sure that it will lead to losses and unnecessary expenses only for sure. But always keep some buffers in your budgets because it's a sure shot thing that you are going to miss it, in that time you should keep your emergency funds in your armoury so that if anything happens you don't have to go for borrowing. |
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I apologize if this is a dumb question but the fact is that I don't know why.
My question is, why is Bitcoin market always affected by all economics news, example is the issues with US bank like the SVB. Thank you
It's because we guys have habit of correlating all movements in bitcoin with something or the other. I feel these movements that happen in bitcoin are just cyclic. They don't always happen due to macro economic reasons. Like this time market was already pretty oversold at this point when this news came in and market boomed up. Moreover these are very very small movements and bitcoin doesn't really have a lot of effect on longer term prices. Even stock markets face these attacks. |
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Sorry to raise this topic over here, it was too heavy for me to answer all alone so I decided to share here to see some reasonable answer from those that have been in such situations. An hour ago, I went out with a friend of mine and it happens to be a drinking hall (beer parlor) where he got drunk and as well trading.
The question is, can you trade while you are already drunk?
I was asked this question because I have never been in that mood before being drunk while trading and those who have been in that condition what was your actions and reaction while trading because I noticed something very hard for someone to be drunk and as well trade, do you make profits or keep losing maybe do you close your trade after being drunk.
I have reason where this topic should be posted but if any of you think this topic is not at the right place then suggest me the proper place where I can moved it to I will be very grateful.
The floor is always open for more discussions.
Haven't done it will surely won't be doing it. Simple reason is because trading requires you to be emotionless and alcohol has been known to release your emotions. You will be doing revenge trading if you lose a couple of trades and will be doing very brutal trading to yourself. So ideally I would definitely not suggest myself to do trading on alcohol and would obviously not recommend anyone else to do so. |
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As a small bitcoin trader, I feel intimidated rather than inspired when watch certain YouTube or Social Media titles or content like "Day in the Life of a Young Millionaire Trader in Dubai" or "Day In The Life of a 23 Year Old Making $10,000 a Day", or "A Day In The Life of a Crypto Trader" etc. They feature young millionaire traders in beautiful places or traders who make thousands of dollars and to be honest, it creates a feeling of inadequacy or distress in me because I am yet to reached those levels of success yet. However, I have begun to avoid them and what I do is to focus on my own trading goals and aspirations. As a small bitcoin trader, have you ever felt intimidated, distressed, inadequate or inspired after watching these types of videos or content?
I think most of these videos are absolutely fake. There is no point in distressing yourself for these videos because they aren't actually doing any trading they are just boasting upon their generational wealth, or maybe a few lucky trades and acting as if they are trading. Real trading is hard and actually takes some times before you see good results and much more time before you can be a millionaire. Most of these people have more incomes from selling courses of trading than trading itself. So no need to get dishearten in these things. |
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For me proverty is not the problem of a person but of the whole nation in my country the eradication of poverty has becomes necessary for the sustainable and inclusive growth of the let state the fate here Bitcoin has helps the poor by Increasin their savings and access to capital also it has help around 1.7million people in my country and also it has also impoverished people to control their investment.
How exactly has bitcoin done this? Please help me with it? I understand people who would have bought Bitcoin luckily at a lower price have made good gains but this doesn't means all the poor got access to it. Also it's just like stock market when it comes to price appreciation so if a poor person would have put money into stocks as well the his fate would have been same only. So I don't agree that it has alleviated poverty of any nation or even 30% of poverty sticken people of any nation. |
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An interesting initiative, for the first time I am hearing a dedicated department which is created for bitcoin and related functions. This team will specialise in bitcoin altogether and all it's daily functions with revolve around it. What would be interesting to see which type of experts will be part of this committee as we know there is no single regulated certification on bitcoin and it's economy.
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Australia tour of India 1st ODI match between these two teams has started. Batting first, Australia set a target of 188 runs in 35.4 overs. Australia team batsmen could not score many runs. The runs that Australia scored seems like Australia played a T20 match. But it will be all out. I did not think. Now waiting to see how India team batsman can score. Virat Kohli batted badly in today's match. On the day when Virat Kohli bats well, India wins the matches very easily.
Even if Virat Kohli plays badly in this match India will easily win the match Rahul scored 68 runs alone and he is still playing. India need only 16 runs in 13 overs which is not a difficult task for India to complete and an easy task for any cricket team not just India. India still have 5 wickets left so there is no doubt that India is going to win the match. However, compared to India, Australia had a much better run rate but they could not hold on to their wickets and all the wickets were lost in just 35 overs. What a win by Indian team, KL Rahul performing really well, I hope he is able to silence venkatesh Prasad and many others against his place, he has shown his reliability as a match winner with this knock. In ODIs KL Rahul anyways have pretty good stats in career so his reliability in ODI cannot be easily questioned. |
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Political life is not normal lifestyle in the street, growing up and witness politics I Begin to realize politics as a pure game like everyone other games eg temple run, whorth, ps4, dream league, ludo and many. This games surprise you when you do not expect so politics surprises people expectations. Your brother can be against you, your siblings can be against you, even yourself can be against yourself. In politics trust is not among the parties flags, is just a war of interest.
Obviously yes. But the hard fact about politics is that you cannot ignore it. It exists in all spheres of our economy and life. If you go to government there is poltics to win elections, if you go to bureaucracy there is politics to get better positions, if you see corporate there is corporate politics to gain big positions as soon as possible. So yes even though politics is a war of interest it's not at all possible to complete remove it from our lives. |
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Good Day medium, there is something I will want us to be aware of since bitcoin is a life-changing investment some people are taking it as property, I say this because I overhear someone making a call and saying he has 2BTC and that's is his property.
Now that bitcoin is more valuable in most countries, that shouldn't be a property it should be an investment, those who see bitcoin as property should learn more or read more about bitcoin and how it works.
To me, bitcoin is an investment and also a treasure, I don't know if am wrong or right.
But if someone may ask you, what do you call BITCOIN?
Treasure would be something you just surprisingly found in your backyard. Bitcoin definitely isn't this. But yes it's obviously an investment, it's value deviates over time and for the most part of history if you see it has gone only in the upward direction meaning that it is an excellent investment which has grown over time. Some people refer even their investments as their property so this might just be a difference of nomenclature. |
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For long now I have been reading lots of interesting testimonies around the forum about their experience and achievement they made through bitcoin progress. Something very important came into me to know how do you feels whenever someone said of their investment and how it yielded and they made fortune out of it.
Do you feels your late getting involved to the industry and do you wishes to be like them, and if you were in their shoes would you be able to utilize those opportunity they got or you won't afford to bear the risk and get involved?
Lets discuss wisely and get the best from ourselves.
First of all, Obviously this depends on the story of each individual person. Some stories especially about the early birds entering the market at very low levels, i feel somehow it would have been better if I was early to the market. But then I see some other people who are late yet made a good fortune due to some good altcoin, this makes me confident that gaining huge in this market is still a possibility. |
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Do you have a morning routine as a day trader? I find
that whenever I follow my morning routine before trading, my focus is unbeatable in the charts and analysis. I usually wake up by 6am and start with cardio or just walk my dog. Next is a light breakfast. Eating light meals is essential because I won't feel very heavy and dull. And on some days, depending on how I feel, I skip breakfast totally for some homemade juice. I repeat my mantra several times ," today is already a great day." After which I go to my computer and start trading. On somedays I make good profits on some other days, I don't. Overall, my morning routine keeps me mentally prepared to face the day. Kindly share some of your morning routine before trading.
All this is nothing but placebo effect. You feel that everything since the morning is going right, you have followed your routine which means everything is going right so you manifest that your trading too will go correct this time and you trade with the right mindset which ultimately gives you profit. You can say it's sort of a chain reaction which sets the mood for everything. |
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What a come back by Virat Kohli! After November of 2019 today he scored his 28th test century. At one point I was hoping for him to get his double but 183 is still a good score. This pitch was meant for batters like Shubhman Gill, Virat Kohli and Axar Patel. Virat Kohli could have scored his double century if there is someone able to build a partnership and Shreyas Iyer did not come out to bat as he was injured and he should be replaced as well. One thing now I am sure KL Rahul will miss playing test cricket as the new test opener with Rohit will be Shubman Gill. I was expecting a decent lead of 150+ runs by the Indian side. 91 runs lead is just a cake walk for Australian batters. Now everything depends on the Indian bowlers.
KL Rahul got his opportunity to make an impact but he failed to do so in several innings and it is time Shubman Gill takes his place and there are other talented youngers in the dressing room waiting to get an opportunity and the BCCI should give them the preference rather than giving opportunities to out of form players. I think Virat Kohli couldn't score century also due to the pressure of scoring runs fast in the final session. But whatever he made i am pretty satisfied with his performance overall. We all obviously knew he is back in form but with his performance today he has proved the same in test matches as well. Now I am really waiting only for the world cup feeling so much like 2011 just Virat being in place of Sachin this time. I am not taking any hopes from RCB in IPL anyways even though Virat is in form |
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Hello,
What are the Advantages and Disadvantages of the Crypto and Forex? Why should anyone choose Crypto over Forex?
Thank you.
Why crypto over forex for trading, simple reasons 1. Better volatility, forex markets are generally the worst when it comes to volatility. Crypto markets move more than 5% on each day giving you lot of scope of profits and losses as well. Forex move much less but obviously there is high leverage involved making profitability almost even. 2. Macroeconomics: Crypto macroeconomics is generally much difficult and variable on various aspects than forex which is mostly a barometer of country's economic situation and a little bit of speculation. 3. Options for trading: you have a lot of options when it comes to Crypto trading. In forex you just have handful of options. |
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For those of us who have been exposed to cryptocurrency and have had to believe in its continued existence by delving into its use;
How rich could I be if I use DCA strategy to invest in Bitcoin continuously until it reaches its 21million limit? Knowing how much it has gotten to now at 19.15million.
How long would be a long time in years for this limit to be reached and what opportunities would be made available to those who invested in owing these coins and still do as at the time?
Will those who earn from campaigns, offer services online or conduct business with cryptocurrency be so rich, seeing that they have been in the game long and have accessed or have access in the form of holdings or savings or have its coins as payment in one form or another?
Just to let you know it is going to take 100 years until it reaches the barrier of 21 million. So obviously no one knows fate of bitcoin in next 100 years we surely know quantum computers is one of the threats that we already have in front of us. Secondly we might even have a newer technology incoming in 100 years which might make bitcoin not that lucrative. So obviously no one knows how rich will you become. Talking about opportunities specifically for you. I don't think there is any right now other than this forum. It's all upto you an your contacts and nothing else. |
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I trade bitcoin regularly, my trading style is scalping sometimes, when i trade on regular days like monday to friday, it nice big candles forms, really very enjoying moment like this: https://ibb.co/Syqzwxcand trading on holidays like saturday and sunday, it become very boring day, there are very small candles forms, and very low profit or no profit at that day. like this: https://ibb.co/jVFq39Fmy question is why this difference in candles , my possible reasons are because insitutional traders are on holiday's or all traders are on holiday at that day,but financialcrypto markets are never on holidays. share your thoughts why this candle differences, and very low volume. I think you are right it's because stock markets are closed on holidays so there is a good chance that the money from institutions flows from stock markets to crypto markets which in turn get better movements and better volatility thereby allow you to make better profits in just the same time frame. Othe than this we can even say a normal retail investor also is on holiday on Sunday so that also might effect this. |
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In some conversations that I have had with some rich people who are old, they most times always say that they invested in real estate and that was how they made some fortune. Young people understand that investing is key and paramount to securing a better future like these Old rich men did then, But the question now is what exactly to invest in for young people. Is it wise to follow in the steps of the old rich men who had investments in Real Estate, or do they completely now invest in cryptocurrency? The answer is sometimes traced to the one that offers the lowest risk and loss of capital.
The less riskier from Real Estate and cryptocurrency is Real Estate, but less risk,, less reward. The risk that come with the higher volatility of cryptocurrency makes the profit that can be gotten bigger. Will you go for less risk, or big profit?
I think depends on your age. Better is a combination of both always. There is obviously a meter of your life, in early ages with lesser responsibilities you have the bandwith to take more risks without any worries but eventually there will be a time when you won't have that much risk aversion. So take risks at the right time in your career so that even if things go wrong you have a lot of buffer time to regrow yourself. |
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Finally a half century from Virat Kohli in Test and hopefully he will convert that to a century and so does the tail end and with the way the match is going it will end in a draw and finally some batsman were able to rectify their batting average with the pitch they got in the final Test  . There is no fun of the test match if the pitch behaves like that. Virat Kohli has scored something good after a long time in test format. But the spectators are getting bored for such pitch condition. This test match is heading towards the draw. I can't see any other possible outcome of this match. Will India qualify for the WTC final automatically if this test match ends as a draw? No, automatic qualification will only be there if India win the match, otherwise we are slightly dependent upon SL vs NZ series. if SL takes a 2-0 clean sweep then India won't qualify with a draw. Only if atleast one match is drawn of their series also India will qualify. Practically from what it looks like SL vs NZ first match also looks like a draw only. So, I thin India has a good chance to qualify right now. Talking about the pitch, I agree, I personally also like bowling pitches much more. There is no point to keep on batting for 5 days for no results, Instead pitches should be made in such a way that 400 in an innings looks like a manmonth task not a cakewalk. |
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I was having a chat with a senior mentor in the financial sector and I asked him what advise he had for recent graduates, he said despite the high rate of unemployment, they should avoid a small margin business and instead acquire a skill or learn a trade where there is a reasonable profit margin. Because the effort you put into a small margin profit business if paired with acquiring a skill will pay more in the future. With the present economic outlook, do you think that this is a good advise?
Both a Yes & a no. Small Margin business ideas or what we can call home startups look pretty lucrative as less capital is generally required to open them and you can easily make your living using them. But if you see the current trend in most developed and developing nations, the trend of the market is changed and a shift towards buying things online and from major stores has been there. Also seeing the development in technology it looks as if this trend will obviously continue. Which means these low margin business will always be struggling with the footfall as we progress further. But yes in this current unemployment scenario it's a good option, as best one if it can be done as a side hustle. |
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There is no ban. No money laundering if you merely have crypto assets. The media frames the headlines in such a way that it looks as if you are going to go to jail just for holding cryptos. So what has happened here is government has added some extra definitions in clause (sa) of Section 2(1). What has changed is nothing but the definition of the word in the act "Person carrying on Designated Profession". Now let's see where is this word being used in the act: 1. Definition of Reporting Entity. So the words "Person carrying on Designated Profession" are being used in definition of Reporting Entity therefore it makes any person holding cryptos as a reporting entity. 2. Tasks/ Duties of Reporting entities. In plain terms, - To take UIDAI/ Adhaar of the person whom you are dealing with or a passport in any other case. -ID of someone you deal with offline
- Maintain Records of all the transactions evidencing Identity and Business Correspondence for 5 years-All details of your holdings/ Trades
- Additional Due Diligence- Taking extra precautions when dealing with regards to the sources of funds which you are receiving from that person etc.-Practically slightly difficult to do for any individual
3. Obviously failure to do above tasks will make you vulnerable to Penalties from the Director. So, the recent change has brought this above ammendment so just make sure to keep the records and identity of any person you deal with and enjoy trading and Crypto. There is no outright ban and if you follow the above Tasks there is no violation of Prevention of Money Laundering Act, 2003. |
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