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Getting a loan to invest in something that has no guaranteed return is a big risk. You are digging your own grave if things don't go well on that platform where you will invest. If that platform is not good then you can just earn money again without being in debt. You won't suffer for a long time if you will invest your own money. Maybe you are just tempted now because some people you know earned from DeFi platforms, if you don't have enough money to risk or lose then don't bother investing in it.
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I don't suggest doing this if your income is just enough and the reason you invest in crypto is because of its potential value. When an emergency happens and your holdings are locked you will be forced to take a loan. If there is a bad news about bitcoin then the price dumps and never recover you will lose a lot of money. You really don't know what can happen in the future so what's the reason of locking it. There is no platform where you can stake your bitcoin. Just keep those bitcoin of your on a software or hardware wallet and secure it properly.
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Question: "Market investors and hedge funds bet the price of an asset will increase or decrease by buying or shorting stocks. Gamblers bet one sports team will defeat another by placing bets. Is there a real difference between these two things. Should one be illegalized while the other is not."
I suspect some who have tried their hand at both gambling and crypto exchange trading might identify with these remarks. High risk correlated with high reward ventures such as sports gambling and market investment might both qualify as gambling. There may be many cultural and societal similarities between equity traders and sports gamblers as well. With big data and algorithm based approaches being the most successful innovations of recent times, in both areas.
Their difference for me is in crypto exchange trading there is what they call risk management. You just bet 5% or less of your portfolio to avoid being liquidated. You can even set your stop-loss and adjust the leversge to avoid bigger loss. Market trend and reading the chart can help you a lot to plan your trade. While in sportsbetting, it depends on the odd and your bet on how much you are going to win. It would be difficult to recover if you hit 2 or more losses. |
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Para sa inyo mga kababayan. Since ang presyo ay sobrang tumataas, nararamdaman niyo ba ang pagiging active ng ating bansa pagdating sa paggamit ng cryptocurrencies? O ang mga tao ay naghahanap lang ng efficient or safe ways, considering that we are still have the pandemic, to transact their money using these mobile apps or exchanges?
Dahil tumataas na naman nga ang presyo ng bitcoin ay madami din ang nagtetake advantage sa panahon na ito. May ilan na gumagawa ng ponzi scheme at ang source ng income daw nila ay galing sa bitcoin at ang kadalasang biktima nito ay mga kababayan natin na nasa Visayas o Mindanao. May mga tao din na bago talaga at nag eexplore ng ibang source of income dahil nga sa pandemic ngayon. Sa obserbasyon ko mas dumami ang nagtetrade ngayon kumpara nung mga nakaraang taon at isa na ko doon. Dahil dito mas dumadami ang nagiging interasado sa crypto at nagiging aware kung ano ba talaga ang pros at cons nito. |
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If you need to make quick profit from new listing, make sure that it is really a new coin that is not listed to any exchange yet. When trading opens, you must have a stable internet and a fast-hand to avoid buying at a high price. When your gain is above 50% then you can set a trailing stop so your profit is guaranteed.
Otherwise if it is already listed on some exchange, people will just panic buy there then dump the coin on the new exchange that will list it. As I have noticed, newbies in cryptos are often caught when this happens.
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One possible scenario for this is creating educational lectures on how to grow and produce food with a quiz at the end. Rewarding participants with crypto coins for answering questions correctly. A big part of humanitarian efforts in 3rd world nations is education on how to grow crops. Farming competitions could be held and rewarded via token. Its the internet era ideas like these are a dime a dozen.
This is a great idea to encourage more people to learn and produce raw food materials by themselves. Since farming simulation game on the crypto world is very popular now like Town Star. It sbould not be all about answering questions correctly but instead have a farming tournament where a number of people are tasked to produce a particular crop. Tey will be ranked based on the quality of crop they will prodice, only top 3 can win that token. All of their harvest can be a big help in increasing the supply of that crop thus decreasing the price. |
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The risk is if there is a very bad news about bitcoin resulting for thse institutions to sell all their holdings. Even one institution selling could be a big impact to bitcoin's price. This could become a catalyst for other institutions to sell also causing retailers to panic sell. Most of us invested in bitcoin because its speculated price in the future could give us big return, this is also part of the goal why those institutions invested. The question is when will they sell or what is their primary goal for investing in bitcoin.
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You already said it yourself, there are people that are very lucky to win in gambling but there are also who are not. Gambling is a form of entertainment in the first place so it should not be considered as a serious way to make money. Those people that made gambling a living could be very rich and can afford to lose their bankroll. Greediness is also a factor why many people lose in gambling, they can't control their emotion properly when they win so they tend to bet more until the casino get all their winnings again.
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When I was new to cryptocurrencies, I panic sell also when I see the coin I have is dumping hard and I guess this happened to newbies out there also. But as time passed, when I get the hang of crypto market and saw my coin that dumped hard then make a comeback of new ath that is where I learned to have diamond hands. I learned to be emotionless to my holdings, I promised to myself that I won't sell at loss again and take profit when it is bull season.
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I would add hotbit on the list. Someone told me that it is easy to list a new altcoin there so there are definitely plenty of shitcoins on that exchange. I once joined a yield farming of a new coin that got rug pull. The devs did not list that token on pancakeswap to exchange but instead they first listed it on hotbit. In less than 5 minutes, the token went from 0.3 down to 0.002. Good thing that my connection is working properly that time that I got to sell it at .02 per token. My busy friends lose some big money that time because their marketing before the presale was very active.
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There is a CME gap between 54.5k and 55k so I'm hoping to get that filled first before we reach a new ATH. Even though those gaps are not always filled, having those is giving me anxiety if we are on the peak like 70k per bitcoin or higher. The correction would be massive and alts would also bleed worse if this happens. They say there are also gap in 3.5k and below 30K but I don't expect those to be filled because many institutions bought bitcoin at 40k level.
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As long as you don't have the private key to access your bitcoin then you are not yet safe even if they are a reputable exchange. There are many reputable exchanges in the past that went bankrupt or made an exit scam taking all the cryptos of their users, Mt.Gox is one of them. Having a hardware wallet or a software wallet like coinomi, trustwallet, metamask is a better option. You just need to make sure that you write its passphrase and keep it somewhere safe so you can access it on any device you want.
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Casino or gambling sites that offer a no-deposit bonus are very hard to find and if there is really a casino like that there is always a catch to it. You won't be able to withdraw it easily, even if you reach their required wagered amount they will ask for KYC. Their often target here is people that are in desperate need of money. They would like provide their information hoping that they can withdraw their winnings. Once they submit the documents required for verification, the casino will suddenly lock or ban their account.
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Instead of listening to signals why not really learn yourself so you can plan your own trading. We almost have the same experience, last February I managed to earned almost 2000$ from my 500$ capital in futures but because of greediness I still did not took profit that time. And thinking that I could make money quick out of it, I increased my margin then almost got liquidated. From that experience, I now know what they say risk management. I am hooked now watching Reyner Teo's youtube channel, he teaches alot about trading not just about candles and charts.
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It is impossible for dogecoin to reach 1$ given that it has no maximum supply considering also the marketcap if it really reaches that price. Miners and whales would just dump their holdings even before reaching 0.1 cents. It has no utility and only became popular because Elon Musk always shills it. Though it is one of the OG coins I don't really suggest investing serious on it because it has no development since I've found out about bitcoin way back 2016.
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Here in the Philippines, there is no law yet that imposes tax on digital currencies because it is not that popular yet. Once you declare that your source of income is from trading cryptocurrencies, they will disable our local bitcoin wallet then they will investigate it thoroughly the source of those cryptos because they think that it is from money laundering. Bitcoin cannot be taxed as long as you don't declare it as an asset of yours. Thanks to some rich people here that do p2p exchange, we can conveniently cashout our money without hassle.
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This can be similar to pareidolia meaning someone that can see unusual patterns from an object then they tend to worship it. If people around that insane person thinks that he predicts correctly the result of sports betting or anything related to gambling then they will suddenly think that insanse person must have an ability that a sane person doesn't have. Even if it is just a coincidence, they are blinded by their greed to win in gambling. I would just believe that insane person has extraordinary powers if he can correctly predict the result of lottery thrice in a row.
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Gambling is a vice while trading is something to be learned that can benefit you in the future. I prefer trading because you acquire real skills here that you can also apply to other types of trading like forex or stocks. This can be a real skillset that you can use until you are old or can't work anymore. You can also use your trading knowledge by teaching someone in exchange for money. Unlike in gambling you just need to know the mechanics of that game then you are ready to go.
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I don't if this was added but I think buying and selling items on an online game could be considered as an online business. There are people I know that make a living from this and they really have a capital to buy expensive items on the marketplace then sell it afterwards to someone at a higher price. Selling in-app currency like diamond or gems can also be a business. Aside from the capital, you will also build your reputation to your customers so they will recommend you to someone they know.
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Just like saving cash, any amount is good as long as you do it consistently. Bitcoin's price is increasing over the years so you are not just saving but also you earn when its value increases. There could be bear season but if you have strong mind to not panic sell then it will benefit you a lot in the near future. I myself is also buying bitcoin monthly from my salary. Whatever the price is I always buy 40$ worth of bitcoin monthly since last year. Bitcoin has still a lot to grow now that many institutions are looking to invest on it.
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