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41  Bitcoin / Bitcoin Discussion / Re: Don't advice anyone to invest on Bitcoin if he doesn't have Alt. income on: May 29, 2024, 07:07:46 AM
sometimes he tells me that he's afraid to invest his money on the bitcoin due to the potential losses.

You potentially could lose everything you own. It's possible for your house to burn down, your bank to go bankrupt, your car to be stolen. Are you afraid it will happen? Are you losing sleep every night thinking about it? I sure don't.

Yes' there's a chance to lose everything when you buy bitcoin, but there's also a chance to lose it all when you continue to hold fiat money.
IMO buying bitcoin is one of the smartest things you can do in life.

Agreed that everything has risk and nothing is completely safe, but comparing losing our car or having our house burn down to investing in bitcoin is pretty lame. Incidents such as fire and theft are only rare incidents when we are careless or caused by mother nature and are very rare in life. Meanwhile, investing in bitcoin is much riskier because the market is like a battlefield, investing means you are on the battlefield and it will be much more intense than when you are at home.

Investing in bitcoin is a smart choice but if you are not ready then you don't need to invest in it and there are many other options available to you. Just like if you don't have enough skills to participate in the battlefield and stubbornly participate, it will only cause you to quickly lose your life.
Therefore, it is necessary to have knowledge first before investing in Bitcoin. Without knowledge, the risk will be greater. If we want to develop, we must also be brave enough to take risks, but it is a risk that can be measured with knowledge. While we don't have it, it's better not to come close, or we'll gamble. Many people are smart in seeing the future and opportunities, so many of them choose Bitcoin to save their money
42  Economy / Trading Discussion / Re: Which sort of investor are you? on: May 27, 2024, 06:45:06 AM
If you think that holding coins for a long time is too difficult, you need to remember that you cannot profit in a short period of time by trading only. You can't win it every day like in trading gambling. Becoming a trader requires a lot of research, along with some necessary money. Without practice by investing money you cannot progress in trading even if you do not have enough money it is not possible to progress in trading. You can never make a profit with small capital. If you have money, intelligence and patience then you can succeed in trading otherwise go back to long term investments as your risk will be reduced there.
Indeed, especially for beginners, long-term trading should be the main thing rather than short-term trading, while we invest, we can learn to do short-term trading, maybe with small capital first, and we have to be patient, while we gain experience in trading, and Of course, don't be profit-oriented first, the arena will ruin our plans. It's not easy to do short-term trading, there are many things we have to master, especially psychology, which only we can control
43  Economy / Trading Discussion / Re: Share your Crypto experience. on: May 27, 2024, 06:33:23 AM
I have now been investing in Crypto for 10 months and its been a test of patience thats for sure, feel like I have entered in a bad year with lots going on causing these bad times and low prices we are currently seeing.

My portfolio is currently 36% down And feel I have no choice but to hold till the next bull run which is hopefully only 12-18 months away. I will continue to DCA but in recent weeks I have slowed down having gone from investing every week to every 2 weeks as the prices just keep falling.

I am just wondering if those who have been involved with crypto for a few years at least could share their experience and offer any advice for those new like myself?

Thanks

Doing lots of Bounties and investing many cryptocurrencies but in the end the reward from doing all the work sometimes got used for emergency case because I lack having an emergency fund. But until now Crypto only something that I did when I have free time because I have work and family in real life. It's quite hard to maintain my time with both of them(family and work) so I only did DCA and hold for long term right now.
if what we invest in is a top coin then it will last better, but if we invest in a new coin or a new project, I think it will return to DYOR, because all decisions will be in our hands whether good or bad. Likewise, because I am married and have small children, I prefer to invest long term by choosing trusted coins, so that I will be comfortable holding them for the long term. It's not easy to make that decision, but we have to be brave enough to take the risk whatever the outcome will be
44  Economy / Trading Discussion / Re: Learning Crypto trading as a beginner on: May 27, 2024, 06:23:52 AM
Learning trading is very difficult.  Because trading is not easy to master.  Learning trading requires a lot of patience and dedication.  Many people resort to various types of training.  But most of them are scams.  It is better to master trading on your own rather than relying on others.  Because trading is a practical process.  So the more you get into it, the more you will know about it.  Moreover, one cannot enter trading completely ignorant.  After knowing the basic concepts and all the strategies and rules of trading one should come to trading.  But in the beginning a very small amount of money has to be invested.  The less money can be invested and what.  Then when the trading is fully mastered the amount of money can be increased in parts.
It's never a good idea to try to learn anything from online mentors, you are right about that, so it's better if someone willing to learn trading or anything, in general, finds a place or a person where they can learn so that they can see and understand everything more clearly and easily.

There are two basic things that one needs before entering the cryptocurrency market or any financial market as a trader, the first one is knowledge because you can't do anything if you don't understand everything, and the second one is the budget that they can utilize to make their trades.

Unfortunately, in the cryptocurrency market, most people make an entry without the first thing which is knowledge, and when they fail, they start making excuses.
If I may add more, experience is also an important asset for achieving success in the world of trading, therefore a lot of flying hours are needed so that we have good intuition regarding market reactions. that way we can make good decisions so that we don't harm ourselves, trading is not only done in theory, but in practice which determines our success, in practice it is even recommended to use real money to hone our psychology
45  Economy / Trading Discussion / Re: Take Profits! Its important! on: May 27, 2024, 06:13:53 AM
I believed being greed is more important to avoid profit loss, that proven because those old days I never had that mindset. My confidence was out breaking thinking that I wouldn't experience any problem with my holdings.
Unfortunately, when bearish came around year 2018--2019 everything went so grey and in fact it gave me a lot of emotional stress which was really hard to cope up.
Well, that's why taking advantage is important. Make sure that you take profits regularly, and have a strategy for rebuying. When you have taken profit, and bearishness occurs, you can buy back, and increase the coins you own.
However, I too have experienced the same thing. Until now, I have changed my view completely, that I chose this decision to make a profit.
Sometimes greed seems to blind our minds to make a profit, even though we have already made a big profit. Everyone must have experienced it, and in the end can only accept what happened, or even experience panic selling, which is even worse. therefore we should have a profit making plan, so that we can control our psychology so that we are not greedy, it is natural for this to happen, because it is basic human nature
46  Economy / Economics / Re: knowledge about risks and their types. on: May 25, 2024, 07:05:43 AM
It's clear that knowledge is the basis of anything. Yes, having good knowledge regarding the risks in the crypto space is very important. because, with that, we become more aware and alert to various risks that will be faced in crypto and the economy in general. So whether we like it or not, we have to have good and appropriate risk management. Because, proper and good risk management will help us to avoid various risks that will frequently occur and be encountered. Then, this risk management can also help us in implementing something so that we can minimize losses and can actually optimize the gains. With good and wise risk management, we can be more alert about what decisions we will make next too. So. It won't get any worse.
In any field, knowledge is the main capital to be successful. someone with high knowledge, or mastering a certain field, then they can more easily become successful, by earning a lot of money from their expertise, then the next stage is good financial management, so that the money earned can be used wisely, even can be invested in other fields, so that the money will work on its own, so that we can enjoy it, The knowledge that is mastered must take into account risks and rewards, so that we know what and how it will happen later, this is useful for determining steps to overcome it.
47  Economy / Economics / Re: Take care of your money and learn to save. on: May 25, 2024, 06:53:29 AM
It's sad that from the poor to middle class are dealing with the same thing but obviously, the poor is the one that's struggling more. While before and several years ago, the middle class can live a lavish life without having any problem at all. And now, this seem to be the new poor description by being in the middle income earners. But there are a lot of middle class that are wise with what they earn and learned how to save and to invest properly so that they won't downgrade their lifestyles in the future.
Currently it is quite difficult to save and invest, and this does not mean that we have to be wise in thinking about finances for the future, but the current economy of society is very difficult, especially for those at the bottom who work as farmers or fishermen, let alone saving for their needs. everyday life, even now it is difficult, because market prices are uncertain, how do they think about retirement benefits in the future? They don't know what day it will happen.

This is what our society is currently experiencing, the current economy makes it impossible for some of us to think about a more beautiful future, because our income is uncertain.
If the income is uncertain the money that I get is spent there is not much money in hand to save. We often hear such things. Whatever income you have now you can save from it if you decide to everyone wants a beautiful future. Before starting any work if the goal is fixed then it is much easier to achieve it. Also set some goals before you start saving.
among the lower middle class, let alone saving to be able to live until next month's exams, they are already grateful, especially since their salaries have not increased but the prices of necessities continue to rise, so they can only tighten their belts even more. On the one hand, an undeveloped mindset makes financial management increasingly less well organized, and in the end they just surrender to their fate. especially for those who are married and have children who need money
48  Economy / Economics / Re: Hyperinflation - Will it lead Countries to Adopt Bitcoin? on: May 25, 2024, 06:23:03 AM
I have hope that hyperinflation will get to a certain extent whereby many countries will have nothing left for them as an alternative to perfect their economy than in adopting for bitcoin use in the country, because over several years, the fiat system and government couldn't help in the situation of the economic challenge than to create a sustained inflation towards the economy and in which the people are the ones being affected the most.
I do not hope for that lol.

I am hoping that countries allow bitcoin adoption even without their country going into a whole crisis. I don’t want to have to suffer first before being helped. If they only decide last minute that bitcoin could help with hyperinflation, too much damage would have been made and they would have a much harder time to try and fix their economic problems.
The hope for bitcoiners is like that, but what about the government, of course it won't be that easy to legalize bitcoin, even though we have a good idea, but we don't have the power for the country to adjust to what we think. Bitcoin adoption can control the hyper inflation that is currently occurring, because currently the value of Bitcoin can be said to have increased more than inflation, even many times
49  Economy / Economics / Re: Debt Management. on: May 25, 2024, 06:15:34 AM
Many successful business people borrow money, when borrowing money, make sure that the money will grow so that it can be returned and give us more results. On the other hand, it would be better to borrow money and not include all of our assets, so that if something goes wrong we can still move on, not being too burdened with debt. Therefore, use the loan money wisely, with careful calculations and plans
50  Alternate cryptocurrencies / Altcoin Discussion / Re: Swap crypto or sell first then buy? on: May 22, 2024, 02:43:41 AM
I have a few altcoins that are doing pretty well and want to take profits soon to then reinvest into other altcoins that haven’t pumped yet and I am wondering if it is best to swap directly or sell my altcoin that is doing well into USDT and then buy the new altcoin I want with the USDT?
If you want to reinvest from shitcoins/memecoins/newcoins to the top coins with strong fundamentals, it is good idea. It means you relocate your funds to safer coins. I also already take profits on some coins that I assume they already hit the peak and look like difficult to continue increasing. Most of them are hype coins with weak fundamentals and new altcoins, these type of coins won't last a long time increasing their values. Even some new altcoins only increase the prices when it is launched in the exchange for the first time, after that they tend to decrease their values.

However, it is also good if you divide the profits. A half convert to USDT and the rest to reinvest to top coins. In this way, you can safe some profits but you still can continue to invest in safe coins. Sometimes, I choose this way if I think it won't be a really good time for using all the funds for collecting more coins. Just take a research first, it will help you to take a better decision!! Good luck...  Wink


the decision to take profits and move them to the top coins is very important, our hope is that our investments will increase. However, what needs to be avoided is greed, which is if we invest in altcoins and get a lot of profit, but we don't take it and move it to the top altcoin which is safer, things like this can damage the growth of our investment in a better direction.
51  Alternate cryptocurrencies / Altcoin Discussion / Re: Best Altcoins to invest right now on: May 22, 2024, 02:28:38 AM
Literally everyone will want to know best alts right now to invest as bitcoin crossed $70K again giving some bull vibes. On top of that ethereum too doing so good. Is it ETH time to shine? It hasn't touched its ATH since last bull run so maybe its time for it to go above ATH. But we have to invest in low capped coins with huge potential taking some risk for high percentage of profit.

But the coins you mentioned have a high risk. Coins with a low market cap are usually not completely safe from scams or rugpulls. But if you can find the right project you will be able to get profits of up to thousands of percent. I think it's hard to say it's one of the best altcoins because of the big risks. It is better to try to look at potential projects in the top 200 or 100 rather than looking at coins with smaller marketcaps.
The more we aim for big profits, the higher the level of risk. Even though it is not completely safe, an altcoin ranked 100 can provide definite hope, compared to a new altcoin which still has a low market capitalization, this will be very risky to invest in, because it will be more difficult to analyze properly. I hope that Bitcoin will give a signal of breaking through to a new ath, this is just waiting for the altcoin session to react
52  Alternate cryptocurrencies / Altcoin Discussion / Re: Invest 5k€ in 5 coins - good selection? on: May 22, 2024, 02:17:23 AM
If you’re looking to make more, why not target cheaper altcoins which are more probable to increase in price than the ones that cost a lot? Also, I think that a greater part of your portfolio should focus on top and grounded altcoins that will act as a pillar for the portfolio. Then a smaller percentage to the memecoins you wish and even to new cryptocurrencies that you can risk. Big risks should have a smaller allocation.
Actually, many people want to buy altcoins, but we all know that altcoins have very high risks, that's why many people are afraid to buy altcoins. But there are also many who dare to face that risk and enter altcoins. On average, those who dare to take risks by buying altcoins will have the potential to make a profit. We have to buy potential altcoins such as Shib, PEPE and Doge. Apart from the price being still cheap, approaching the altcoin season, the price movements of these three coins also seem to be very good.
Yes, altcoins have risks but the risk level is dependent on which altcoin. For instance if you invest in ETH it wouldn’t be the same as investing in a random meme coin. Which is why I said that a bigger portion of the portfolio should contain top altcoins (which usually have lower risk), and the smaller portion can be filled with altcoins with greater risks (meme coins, etc)
Currently, I think investment in Bitcoin has gone up high, and only a slight correction from the new ATH has occurred, therefore I am more suited to altcoins where there are still many potential altcoins whose increase has not been significant. Therefore, diversification is necessary to reduce risk, especially if we invest in altcoins. However, if you want to be safer, investing in Bitcoin is not bad, just wait patiently for the price to fly
53  Economy / Trading Discussion / Re: Day trading or Long term on: May 21, 2024, 06:43:13 AM
I think that day trading is very important because it is possible to make very fast profits from day trading and you can make huge profits in few minutes or few hours if you want. If you have experience and have practiced day trading before then you can be successful, because it is a matter related to practice if you have not managed the practice then success can be delayed for you. To do well you must gain experience and conduct many types of practice. Then you can earn better than debt.
Getting profits from daily trading is not an easy thing to do, of course we have to have the ability to analyze the market well so that we don't make a mistake in choosing the type of coin we will trade and this of course requires a long process to get good results as you said. It's very true, of course we have to practice and also have good experience in daily trading to be able to get good results and if we can't get good results, it would be better for us to do long-term trading first so we don't continue to experience losses in trading. what we do.
A day trader is one who can run for a short period of time such as 1 or 2 days. But day trading is not relatively easy. In day trading, an investor has to understand various factors and make decisions which can certainly be challenging. But OP mentions long term  that means trading and long term which i called as holding. There is a huge difference between holding and trading. A holder can conduct relatively risk-free trading while day trading is more risky. Just as a day trader can make a profit due to slight fluctuations, he is also more likely to lose. It is extremely difficult for day traders to make profit especially in bearish markets. But for those who are holders, the price hike at that time will not have any effect because they are long term holders.
The smaller the time frame used, the more complicated trading will be, in this case long term will be easier to do, unlike day trading, which requires complex mastery, from trading techniques, money management to psychology, therefore For beginners, I recommend doing long term trading, and setting aside a little capital to learn daily trading, so that later we can do both to make a profit.
54  Economy / Trading Discussion / Re: How to become a successful trader on: May 21, 2024, 06:31:44 AM
As a successful trader, you should focus on the process instead of the money, because the process is the must important thing for you to get more experience in it, and once you are focus it you never lose your money in trading, so as successful trader you must always be fucus on the process of your trading, for you to get a good profit.
Money is of course important, because with money as capital you will get profits. Experience or knowledge can be gained by trading using a demo account but the pressure is different, so money is also important.
Use money that you can afford to lose, so trade directly with real money instead of just using a demo account, so you may lose money but knowledge increases and slowly knowledge is used to gain profits in the next trade.
However, experience is the main thing in achieving trading success, from experience we can apply the theory that we have previously done, so that from this we will feel the difficulties that can be faced and how to solve these problems. Many traders have minimal experience and immediately jump into real trading in the hope of making easy money, and in the end they regret it
55  Economy / Trading Discussion / Re: What type of a trader/investor is this? on: May 21, 2024, 03:11:26 AM
St $80,000, he still didn't take profit, can we attribute or say the cause of his loss was due to him being too greedy, or being too patient, or over trusting or believing in the coin/token he bought?

You have given he perfect answer to this scenario, he was too greedy and wanted the coin to go more higher before he can take profit and that’s not how it’s done in crypto after investing in a meme coin that can just go up or down at any moment. He is not the first to do such but if I were in his position, I will take away all profits from that coin that I invested and leave the capital to take on the remaining ride. If I get to win more, I’ll still take partial profit and if it goes against me, I will have nothing to lose too. He was just too greedy and he lost everything, that’s the point on not being too greedy in crypto.
If there is a decline, what will happen is a psychological disorder, where panic selling will occur. For me, if I get a big profit like that, at least sell some of it, to protect our psychology if something undesirable happens. besides that, we also have to look at the market, if it has penetrated the new ath then it is possible that most of the coins will be sold
56  Economy / Trading Discussion / Re: How you trade in uncertain times? on: May 21, 2024, 02:56:15 AM
We all know how volatile the market is right now especially since we are still near the all-time high. With sudden price swings and unpredictable trends, traders need to be ready with some strategies.
So, what strategies can you advise especially in protecting our capital, some technical analysis strategies? OR some diversification tactics between stablecoins, bitcoin, or altcoins?

Share some of your experiences or tips on effectively trading in these uncertain times.

I'm using dual investment at binance trading, and I saw stable profit despite of uncertainty. Though I gain lesser returns it seems I got stable and secure trading and I definitely made my asset more secured compared with other ways like with futures. I haven't experienced yet with stablecoins, only ethereum was the one I got for a meanwhile because that's more profitable than other alts in my own opinion.
I usually use stable coins to park capital before making a purchase, so that if the price enters the buying area, then I can buy with that stable coin. Indeed, trading on large exchanges is more profitable, and also don't forget to choose the top coins to make trading pairs, because it will be easier to analyze them, rather than new coins which are more volatile.
57  Economy / Economics / Re: Starting a business without capital. on: May 20, 2024, 03:16:23 AM
But without capital, how can we build relationships, how can we create a good reputation...? It can be said that everything is closely related to each other and to be successful we need to combine it all. I have not seen anyone succeed without capital, or anyone have relationships without capital in these days.

I'm not saying what you said is wrong, there are still some people who become rich from nothing but such stories are not many and we can't even see someone who can do that in today's society. Those stories were stories of last decade, they are no longer true in today's society. That's why people often say the poor get poorer, while the rich get richer.

Indeed, everything requires initial capital to be able to run the planned business, of course capital is not only in the form of money, even with skills and knowledge, in my opinion, that is the initial capital that must be had. It's true that what you say is all closely related to each other, of course to be successful we don't just have to have capital, we have to master the skills and knowledge. no one is successful without using capital at the start.

To be able to start a business requires hard work with the aim of success, with those who are willing to work hard and never give up doing what they want, I think they have the opportunity to be successful, in fact everyone has the right and opportunity to be successful, but it all depends on them. themselves whether they themselves will fight for it or not.

It can be seen that in this era, no one can start a business without knowledge, skills, technological equipment... and to own all of those things we also need money. Like the job the OP mentioned is affiliate marketing, it's true that we don't need to spend capital to import goods, rent warehouses, hire employees... but need the internet, phone, laptop and these things are related money. So as I said everything is closely related, no one can do business without money and the factors we mentioned.
Capital seems to be the most important problem faced by prospective entrepreneurs. Many of them take out loans from banks to get capital, and I think that is good as long as we have clear knowledge and strategy for the business we are going to run. Don't let us just speculate high in doing business, because that will actually deepen our suffering, especially when we only imagine rewards without considering the risks.
58  Economy / Economics / Re: How to improve your condition? on: May 20, 2024, 03:04:41 AM
I have heard from everyone that it is not your fault to be born poor. Still, it is your fault to die poor, so my question is after so many restrictions, how can you survive without any opportunities or become rich
You'll create opportunities for yourself depending on the choices you make. The choices you make have the ability to either make or destroy you. It is not your fault to be born poor, because you do not select that, but it is your fault to remain poor, because if you make efforts, you will become lucky one day with one that you make, and that effort may influence the course of your life positively. To not make any effort because life has not been fair to you means not to make a choice not to do anything, and that will have a negative effect on your life because things will never change.
Indeed, being born from unfavorable conditions will increase the length of our path to increasing prosperity in life, but we must have an inverted mindset, which is actually used as a foundation in trying which will later encounter many obstacles, and overcoming these obstacles can save us later in improving life, because we have mentality and knowledge. Besides that, we have to associate with people who can improve our mindset, because social interactions have a big influence on the formation of our mindset.
59  Economy / Economics / Re: Insurance is important on: May 20, 2024, 02:53:28 AM
Moreover, for underprivileged families, they really need insurance so that if something happens to them, it can be handled well, especially health insurance which can help poor families when they seek treatment.
It is not wrong for poor people to have health-related insurance because the cost of medical treatment is also very expensive and quite difficult to meet for those who are still poor. But things like this are not only needed by poor people, but are also needed by everyone, including rich people, even though rich people can afford more expensive medical costs. However, when this can be utilized through health insurance, of course it will not be wasted by everyone because health is a very important thing in life, so health insurance is seen as important insurance too.
Recently we are having good development which is going to help all communities and many countries with media is doing good part for this as well peoples are taking well awareness about this all and now also talking about this with few years back things were not easy like this and many are not like to talk about this all but due to few positive sides which are coming through media and social media peoples are talking about this and also enjoying benefits of this as well.

Developed countries are doing impressive things due to their strong system, but now we are having many developing countries which are learning and trying to bring positive things related to this insurance which is beneficial for the family and business as well.
Indeed, insurance is very important because we don't know what will happen to our bodies in the future. for developing countries, where there are more middle to lower economic groups, therefore many have difficulty paying premiums, but the government is trying to find options to ease the burden on its people, many systems are being implemented to provide health services to remote villages
60  Economy / Economics / Re: This Will make you rich on: May 20, 2024, 02:43:17 AM
It's not easy to achieve that but I believe there is still room for creativity to become rich as long as you have the desire. For people who have a strong desire to become rich, of course there are quite a lot of ways they can do it. For example, in terms of time, of course he will do more to continue working and no time will be wasted.

Likewise with starting a business or investing in crypto, but it is also not easy and it also requires sufficient and consistent knowledge.
Working hard does not necessarily make you richer, but working smart and using your time can get us there. Now people misunderstand the perception of wealth as involving hard work, even though smart work is a step that can bring someone to achieve wealth. That's why hard work will never be enough as long as there are no funds that can be used because creativity and sufficient capital are needed to reach the stage of wealth.

Knowledge and capital are important and this must be done intelligently to gain wealth because there are many people who have money but cannot run investments or businesses, so adjustments must be made to reach the desired level of wealth.
Smart work is an earth path effort, and after we have knowledge and effective strategies then we then take the sky path, there are many good things that will make it easier for us to achieve our goals, one of which is by giving charity, sharing with people who need it more, then will make our hearts happy and calm, it will indirectly influence our psychology at work, so that maximum results can be achieved
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