Day trading has been profitable for me for the past 2-3 weeks as the price continues to grows. When I started day trading, the initial costs of one bitcoin was around $3,800-$3,900 and it was very unstable at that time. I withdrew and cashed out my bitcoins even if the profit margin was small. Now, the price has grown up to $4,000~ and these short-term investments proved profitable.


It actually depends on how you want to play the market situation. Day trading is definitely risky but if you have the means of doing so then it could profitable but like what you said, the risks are definitely higher compared to a bullish run situation.

People who have purchased bitcoins from a price lower from what is it today are actually benefitting from their investments. Depending on their goal, either short/long-term would benefit them depending on the outcome of the market. In addition, individuals who utilize cryptocurrencies as an alternative income benefit from its existence. In general, almost everyone who has cryptocurrencies on their wallets benefit from it.


The market can be control especially to something which is scarce in supply. Whales can definitely manipulate the market by altering the demand and supply. Like what you said, media can sway the decisions of investors which can affect the market price. Although there are multiple factors in this area, the market can definitely be manipulated and changed by the people.

No, you cannot force people to use bitcoin as the main currency due to various reasons:

• First, there exists a barrier between developed and underdeveloped countries. The technological and financial status of those countries are miles apart and implementing a digital system of currency would mean chaos to people who cannot have access to such;
  
• Second, cryptocurrencies in general are not categorized as "money" under the governments of each country;
• Third, bitcoin's value is highly volatile. It changes everyday without notice and this may be a double-edged sword to the public; and
  
• Lastly, the world is too young to adapt in a digitalized currency.
  
  

From those standpoints, our world is not fully ready to accept bitcoin as our full-fledged currency for the time being as it will be both detrimental to the country's economy and to the public.

The only way for someone to profit from gambling is by having both self-control and discipline. If they view gambling as a method of earning money, then expect them to succumb to addiction and eventually lose their resources. But if an individual has the power against his will to bet regardless of the results, then one can profit from gambling.
The circle of gambling revolves around the mind and the result. If the gambler sees that he/she won or lost, regardless of the results, he will eventually bet again to recover his losses or to win more money. This is the circle of addiction which would eventually corrupt the minds of persons betting.

The long history of money started with the barter system where people traded goods or services to others. The problem with the system is that it lacked something universal in value. Slowly, the barter system was changed and people used precious metals and stones as coins in exchanging goods. Until then when banks were created, the fiat (or paper money) has been the universal exchange rate per country.

Like what you said, the value of money depends upon each person if they perceive something as valuable. It does not need to be paper or to be printed by banks but as long as people view something as valuable then it is considered as money.

I guess what they pertaining to "market situation" is very relative to the individual's perspective and standpoint. In general, the market situation depends on the current and actual data of its price, like there may be a bullish or bearish trend depending on the consistency of its price increase or decrease. I suggest that to individuals who purchased bitcoin when its price skyrocketed, the best way to at least mitigate the damage is to HODL and wait for the price to skyrocket. It is in your discretion when and how you should cash them out.

Unfortunately, most people who invested in bitcoin last 2017 where also the ones who did not do their research and background before. They impulsively followed the bandwagon and dump their money on bitcoin resulting to a tremendous increase on its price (which was around $20,000). After a few days, its price decreased and hit rock-bottom. These people who lost most of their money are also the ones saying that bitcoin is dead, cryptocurrencies are a scam... but the ones to blame are them.

An intelligent cryptocurrency investor would always research and study the market before purchasing any coins. They smartly speculate about the upcoming trend and hypothesize about the happening of current events which is a factor in its price movement.

Allocate and diversify your investments by considering other investment methods present like: purchasing stocks, acquiring real-estate properties, time deposit in banks, or purchasing cryptocurrencies. The next step would be categorizing each method whether for short/long-term depending on their state. For cryptocurrencies, you may want to trade them as soon as the value increases due to their high volatility. But other methods such as real-estate and stocks require a significant amount of time before they mature in value.

If things are getting worse each day, only allocate a portion of your income that you are willing to lose to trading. Gather your knowledge and learn from your experiences so you could avoid losing your resources down the drain.


HODL may be a good strategy but if the price increases even in a slight margin, then day trading may be profitable as a short-term investment.

This will only apply to people who view gambling as a form of entertainment rather than a method of earning a quick buck or as a scapegoat to answer debts/payments. Like what you guys said, no matter how large the losses may be, if the person sees gambling that provides him/her satisfaction then no amount of loss could ever make them feel bad.
The only problem that both people have is addiction. In order to win in gambling, the key here is to have self-control and discipline.

Check your local exchange platform if they have this option. Fortunately, our platform offers conversion from bitcoin to fiat or the other and also various services where you can use your bitcoins to pay online stuff or game credits.


This is actually very informative. You need to be wary of banks as they often question your deposits and the origin from where it came from. I know someone who cannot fully withdraw his cash since the banks froze his account due to potential money laundering schemes.

There are similar bitcoin ATMs here in the Philippines yet people seldom utilize them. I guess the problem revolves around the distribution of each ATMs as there are currently around two (2) working ATMs across the country. Given that the reputation of cryptocurrencies in the Philippines are still increasing, this implementation is bigger than we thought.

The only problem that people experience, like you said, are the transaction fees. I've known people who actually used the ATMs and they complained that the transaction fees are indeed, too high. Our local exchange platform offers various services and options and it is much more convenient than going to an ATM and withdrawing your bitcoins by converting them to fiat. Hopefully this problem gets addressed soon.

Like what you said, it depends on the financial capacity of an individual on which investment he/she will choose. I do agree that in terms of long-term value, investing in real estate may be the safer option as you are acquiring a piece of land, which is a concrete item rather than bitcoin which is virtual. The value of land becomes premium in the future as space is limited per country. Although bitcoin has only a circulating amount of 21 million yet to be mined, its volatility makes it a double-edged sword among investors.

I am not sure if I understood your reply well but you have to consider several factors on why purchasing bitcoins can be a smart investment move. First, bitcoins are a good store-of-value since its price can be converted to large amounts of cash. Second, its volatility makes it an unique type of investment, which focuses more on short-term than long-term investment. Third, its scarce supply can possibly be an advantage for long-term investment as well.

The price may be very unstable and we are currently on a bearish slump but take this as an advantage for acquiring bitcoins since lots of large investment companies are starting to accept bitcoin as an alternative to their products/services.

Still, both requires luck in order to win. One can say that poker requires someone to possess both luck and skill, whereas the lottery is primarily extreme luck in order to win. Gambling, in general, revolves around the odds of winning. Sure, you may know all the techniques and technicalities in gambling but if the odds are not on your favor then you will never win.


The most difficult skill in gambling is KNOWING WHEN TO STOP. That skill alone makes the difference between a successful gambler and an addict. If one knows how to perceive and accept loss, then he can prevent the negative outcomes of being defeated; one can succumb to addiction which would ultimately cascade into mental health problems.

Eventually I did stop from gambling but what helped me through this process was my experience from it. Back in the days, what motivates me to gamble are the rewards that I can potentially receive. I merely thought that the rewards overwhelmingly outweighs the risk of losing everything but everything changed when I started losing. From that experience, I realized that gambling can never be profitable in the long-run and it can be highly dangerous when addiction starts to kick-in.


That is actually true. Winning and losing depends upon the mind of an individual if he/she can control and have self-discipline over the decisions that they make. What makes every other hobby dangerous is the addiction that you develop throughout the continuous process. If people have the discipline and self-control over this addiction, then it can prevent negative outcomes that are likely to destroy relationships or their own lives.

The price has been steadily increasing over the past 2-3 weeks from $3,700 to $4,000 currently. Investor who purchased bitcoins for short-term goals can convert their coins to make a quick profit depending on the bitcoins they purchased. In addition, diversifying your investments by allocating both for short/long-term would definitely be profitable due to its high-volatility.
Again, only invest the money that you are willing to lose. Do not allocate all of your savings into one investment instrument.

It is possible but it must require some factors to consider before such event happens. For example, assuming that bitcoin has been banned from countries, new coin that emerged from the market, and investors/users not transacting with it, expect bitcoin to be obsolete. If people will not utilize and use the coin for transactions, then its value will slowly decrease to the point that investors will shift their attention to a new coin. From these factors, then it is possible that bitcoin can be worthless.


Remember that the prohibition of bitcoin to countries causes its price to significantly drop and potentially shift the attention of investors to a new coin. If the world views bitcoin as a contraband, then only a few number of people would transact with the coin. Sure, some people may use it but eventually its price would drop making it obsolete to the market.

I doubt that there will be a second fight but assuming that it would happen, then the aim here is money. Floyd knows that the only boxer that could beat him is Manny Pacquiao alone. Knowing this fact, this will tarnish his undefeatable record which will change the history of boxing. In my humblest opinion, I think it is best that they should focus on their endeavors, rather than making this fight possible as this would not be a serious game at all.


I think I remembered that before the fight, Floyd invited Manny Pacquiao to discuss about their upcoming fight and the monetary allocation. Regardless of the winner, Floyd would be on the upper hand of allocation of profits, as what they discussed and Manny agreed. Floyd is indeed a sly businessman and he knows how to play the game.

Nah, having a cryptocurrency bank would defeat the purpose of eliminating the need for a third-party host. There are multiple ways for someone to store their bitcoins through hardware wallets, allocating to different exchanges, etc. and the creation of banks would not address these problems. The creation of a DECENTRALIZED system and storing them into a CENTRALIZED system would be a topic of conflict in future references.


That is right. There are also hardware wallets which one can store their cryptocurrencies safe. I do not see the need for a bank in-order to address those kinds of problems as they can be resolved now.

We are talking about large amounts of money being transferred to banks and it makes them doubtful about the source due to possibilities of money laundering or any illegal activity. Another reason is for auditing purposes but the former is usually the reason on why they ask it. They must confirm all transactions as genuine since they may also be held liable for any future negligence on their part assuming that the source of funds were illegal.

Given that bitcoin is on its embryonic stage when it comes to acceptance and legalization among countries, they are still doubtful and skeptical as they follow what is written on the law. It also depends on the country where you stay at as some may be lenient towards these transactions and others ask for stringent requirements and measures.