As the title says, I firmly believe that Bitcoin bulls have something wrong with them. Now, I don't actually mean the insult. What I mean is that people who are hoping the price shoots up to $100,000 are morons.
They have no regard for the market cap
People who say that it'll shoot up to $100,000 have no concept of market caps and size. They seem to think that since a bubble happened two times, it will happen again.
You should be able to differentiate between a $1,000,000 marketcap and $1 trillion market cap. Most Bitcoiners are unable to do so. They believe in it rising to infinity and beyond because of previous movements.
That's not how the market works, dummies!
They're not concerned about actual usability
The last time Bitcoin shot up in price, any transaction cost $50 to do. A big speaking point for Bitcoin used to be that you could do small transactions for virtually no cost. This all changed once it shot up.
The ethos suddenly changed to being that Bitcoin should only be for large payments only. $1-2 payments shouldn't have any consideration.
When there are $50 fees, there will be less incentive to move money around, slowing down the Bitcoin economy. If there's no circulation and flow, how can Bitcoin be considered a currency? That leads me onto my next point...
Bitcoin is something speculators use to bet against other speculators
A high price is attractive for those in the game only. It doesn't help expand worldwide coverage. It's a turnoff, actually.
Who are the ones profiting from Bitcoin? It's the speculators.
When I look at Bitcoin from a practical point of view, I don't see $1 trillion worth of goods and services being passed through it. Russia and Australia have an economy of $1 trillion. Their total population can collectively only produce $1 trillion in value. What can Bitcoin do? Not even 1/50th of that.
If you have any "rebuttals", fire away.
You do have a good point, but may looking from different point of view I will start by asking if you know what really brought a lot of people into Bitcoin (cryptocurrency)? It’s the volatility, and that includes the bulls drawing the price up and down, that’s why you see a lot of people taking interest, if not for all that you wouldn’t be seeing people that are interested in cryptocurrency. |
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Hello,
1. What are your personal the must-haves for an exchange to be of any interest to you?
2. Is low volume and liquidity a big "no go" to you? Or do you approach such exchanges as potential interest for market making or arbitrage (small exchanges are responding to volatility slower and this may give some good arbitrage opportunities), etc.
ps: we are launching a new crypto-to-FIAT exchange (starting with /EUR pairs) and would love to get tips from the crypto community on their needs in order to built durable exchange.
Thanks in advance,
Art
When choosing an exchange for trading, there are lots of things I do consider and the first thing I check is whether the exchange is available in my country (whether they have an office in my country), but there are still good exchanges that are not available everywhere. Next thing I check is the coins offered and liquidity. Another thing that is very important is security, if it’s not secured then I’m not going for it. Next is customer support and trading fees, margin, reputation and a lot more. Good luck hope you find the best. |
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If in trading apply fast trading strategy,
What obstacles are constraints
and weaknesses?
Buying fast and selling fast has nothing to do with what you’re going to achieve. Even if you decide to buy and sell fast it might not work, I’m guessing you’re referring to using a short term strategy and it doesn’t work for everyone cause a lot of people lose in it. It’s best to do long term, buy when the market falls and hold it for long. You can save up money when the market is high and then invest it during bear market, and don’t forget you should invest what you can afford to lose. |
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Last year we had a great run. Despite the downs in the beginning of this year, I still believed that by the starting of October, the will be a good run, but I don't see anything of significant improvement. What do you guys think?
We don’t really know about that yet, but it seems like there will be a Bull run this year, although no source has predicted such yet, the ones I have seen are saying it’s going to be next and not this year. But have you checked price today on coinmarketcap? The price has been going up since this week, and someone once said that about $9 billion dollars or more than that has been invested in the market. I hope the bull run comes. |
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Today bitcoin, ethereum, ripple, eos, has gone up over by 12% gain on coinmarketcap over 9billion dollar has been trown into the market in less than 6hours.. is this the pump?? Are we looking at a bull run??
We don’t really know about that yet, just that over 9 billion dollars was invested in the market doesn’t mean that there will be a Bull anytime cause same amount or above that can still leave the market in few hours. But I hope you’re right, the market just went up a bit, Bitcoin is currently at the price of $3,568.., ETH and BCH also went up, while Stellar is a 4.3% increase and that’s not what I expected from it. |
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Which is more crucial HODL or Short Trading ?
Hodl is for those that can have patience for a long time, but it would be best to sell the coin you’re holding when bull run comes and you make huge profit, cause if you don’t, the price and you will lose all those profits and will also have to wait for another bull which will take a very long time. As for short trading, you will have to know how it works before you go for it, cause not everybody can do that kind of trade. |
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When i started trading i didn't know about money management , risk to reward , psychology and many things
I was just putting money and watching that i would make profit after some days i made a huge loss and i knew after losing that i was gambling
now i am have learnt many things about trading and now making little profits
My last saying is never put your hard earned money in to market before learning , it will take lot of time and effort to make profits, 1st learn then earn don't c profits while learning
Profits doesn’t come when you haven’t taken your time to learn the business and understand everything about how it works and how to do it. A lot of people does the same thing, and when they lose their money in the trade, they quickly conclude the exchange was scam, they will never believe that they lost their money because they didn’t take their time to learn the trade, and that’s foolishness. |
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Hi all,
Do you have any strategy how to recognize signals when market changes from bear to bull? I earned now some extra btc coins by selling on higher price and buying at lower. But i am weak to see when market is changing to grow. Usually i buy in not correct time and after while positive grow is turned back to fall. But how to know when the signal for grow is the correct one? I tried to use indicators but there is huge number of false signals and this did not help me anyway.
I don’t really know. Sometimes I feel like they are all fake. Most of the trading signals I have been seeing since I got into this are all fake. You put in your money and before you know it, it’s already a different story. Although I haven’t tried any paid signals before, but how do I know if they correct when the ones coming out for free are not even close to being accurate?. But I have seen a few of them that were accurate though. |
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Trading crypto currency is believed to be profitable and lucrative business only to those who have the trading skill. Apart from trading and participating in signature campaign is there any other lucrative ways in which one can make money that is less capital intensive in crypto currency?
There are lots of ways to make money with cryptocurrency but not all of them are as effective as you may think, but no matter which one you choose, you’re still going to work pretty hard to earn anything from it. There is XBTFreelancer for those who wants to be freelancers and receive payments through Bitcoin, not only that, there are many other crypto freelance sites (I even heard that Upwork is starting allow payments in Bitcoin, but not sure about that yet). Then there are other ways you shouldn’t think of going into, cause going for those would be complete waste of your time, those ptc, Faucets… don’t know how crypto games works, but the few I have seen so far weren’t worth it. |
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Most of you are probably gonna learn the hard way, like I did, by making a lot of mistakes, but maybe keeping in mind a few tips can help you reduce the learning time of stupid mistakes: 1. Your goal is to earn BTC, not the tethers (USD). Trade BTC/Alt pairs, not USDT pairs. 2. Do not buy something that has been multiplied by 2 or 3 recently. 3. Paid trading tips, pump n' dump groups, Twitter, or other sort of paid groups are not going to give you the right suggestions, in fact, their main goal is to squeeze some money out from you! Use Twitter and other such platforms only for remaining updated, not for decisions-making. 4. Always remain at least 40% in bitcoin, there're a lot of times when bitcoin makes a crazy move and alts get a heck of damage. 5. Never fall in love with some one coin only, otherwise this love will damage you in the end as much as real-life love. 6. Time comes when you feel like all other alts are getting pumped up except for yours, in that case, just hodl. It'd be too late to jump onto some other alt. 7. If you're buying something that's about to get hard-forked leaving two coins (out of one) in hope of a pump, don't forget to dump it like 2-3 days earlier. It's a trend now, a pre-fork dump. 8. If something is obvious, it's obviously wrong. -Joe Granville 9. Good things come to those who wait. -Al-Quran 10. Never FOMO/panic. Never think "if I hadn't sold it, I'd have been sitting on a million". Never cry over past, only learn from it and don't repeat the same mistake. 11. In crypto, the good thing is, you can always make a good comeback by being wise, even if you're left with 10% money you initially invested. 12. If you think no one's more unlucky than you, then watch some Youtube videos of victims of Bitconnect. 13. Wait for quality trades (good chances), don't just rush up to trade your bitcoin or dollars again after every successful profit. Decrease quantity of trades and increase quality of trades. Don't trade while you're exhausted (or too much happy on previous trade). 14. If you think you missed the chance by not buying something, don't be blue, try to find some other opportunity. There're always some golden opportunities available in crypto. 15. Trade in levels. Buying and selling, both, do it in levels. This reduces the risk greatly. 16. Try to "bitcoin cost average", if you buy something at 0.02 BTC price, and it goes down to 0.015 BTC, then buy more of it at 0.015 BTC so that you can get into profit faster once it recovers. 17. Make one fully-researched decision without fomo'ing out, and once you make it, stick to it. Finding absolute bottom to buy in at or absolute top to sell on at is pretty much impossible. 18. Very good and interesting analysis by @cy_stats on Twitter of altseason: https://pbs.twimg.com/media/DZstNL-XkAAKFZN.jpg19. Always keep in mind the following pattern of BTC & Alts, as seen in past years: *1) If bitcoin goes up heavily, all alts suffer. *2) If bitcoin goes down heavily, all alts suffer. *3) If bitcoin goes up slowly, only low volume alts suffer. *4) If bitcoin goes down slowly, only volume alts suffer. *5) If bitcoin stays sideways, every kind of alt grows. *6) If bitcoin stays sideways for a few weeks (4+), all alts grow and low-volume alts go "absolutely" crazy. 20. Do not use leverage unless you're really experienced. 21. I personally do not include the coins I've in exchanges in my portfolio. Remember, as long as you've your coins in the exchanges, they do not belong to you. They belong to the exchange and you should always remain ready for a hack/loss of those funds. If you're not trading something, it's way better to take it off the exchanges. 22. If you're planning to have a big position in one of the coins, make sure to thoroughly investigate what's going behind the scenes (by joining its Discord or Telegram), else, you might find something suspicious later on which will be very annoying (and might result in a good loss). 23. Book your profits, don't be the one just "hodling" around. Hodling, in my opinion, works out when you're planning to buy something and then leaving it for a few years. If you're trading, it's not an option for you. Don't just sit back and look at your coins getting pumped up, remember, until and unless you take some profit off of them, that pump is actually useless for you. 24. Buying an altcoin that just entered a high-volume trading platform is simply a big gamble. If you're really planning to buy something which you think has dumped enough after a huge pump AND after getting listed at a high-volume trading platform, you better be ready for something awful. It's a pure gamble, by the next day, it can either get a huge dump or an awesome pump. I'd rather play a roll on FortuneJack instead of going for a trade like this ever again. 25. Before you buy something new, don't forget to have a look at its total supply & circulating supply. Moreover, make sure that there's not going to be an extreme addition soon into its circulating supply; like unlocking of founders reward or private investor coins can devalue your coin/token too much. 26. FOMO buying while the trend is overall downwards is stupidity. Place a buy order at around 3-6% less than the current price, there's a huge probability that it'll get filled. 27. Keep your portfolio as much diversified as you can. Don't just go "all in" in anything! 28. Want some charting skills? Don't forget to read this free guide: The Complete Beginners Guide to Crypto Currency Trading by @BigCheds
If you've been in crypto trading and would like to share a tip as well, please post below. PLUS I'M NOT RESPONSIBLE FOR YOUR LOSSES (OR PROFITS)! A lot of people saying that fomo is a risk lol, there is never a time will invest without taking risk, cause the risk is always there, just that fomo makes it worst. And the tips here are really good, although I’m not sure of the number 1 point. Your goal is to earn BTC and not USD? I still got to think about that, but like seriously what do you gain by focusing on earning more BTC instead of dollars? You invested/bought the BTC with USD, so your main focus should be on whether you’re making more of what you invested which is USD. Even if you didn’t make much BTC and the price goes up, you will still make more USD. If I’m wrong, correct me. |
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If the news is reliable then it is very good. But honestly speaking, everything looks very suspicious, since a month ago I read news that Visa and Mastercard payment systems do not support the cryptocurrency market and do not intend to develop in this area.
They are not trying to develop cryptocurrencies per se but rather just the blockchain technology. It's quite common nowadays for financial institutions to tap on the power of blockchain, seeing that its use cases on their services would greatly speed up transactions and possibly improve security on their end. They're not the ones who wanted to employ such technology on their services as there are countless others waiting in queue for R&D about blockchain to put up significant results for their intended use cases. Yes, agree. These established and known financial institution are very open to the blockchain technology. It is a must for them to keep in track with the newest technology. That is part of the business. They're thinking ahead of time, otherwise they'll be left behind. Ripple has been working with banks longer than any other crypto currency, we are talking about how the ETF can change bitcoin so much and that banks will pour money into bitcoin investors will love etf and so forth but ripple has been doing something similar for years now promoting their blockchain to the banks and helping them setup a system of transactions for far cheaper. Mastercard realized that their system of transaction is costing a lot more than it should and now there are rivals to their system and if they do not innovate they will be left behind and soon there will be crypto systems everywhere making their system worthless hence they need to innovate and use blockchain to drop their charges as well otherwise they will be dust. It is not a shocking news that they are basically improving their ways to catch up with the times. |
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Such a market is not uncommon. This is usually rare for new members. You can observe the history of Bitcoin and you will find that Bitcoin has depreciated many times. This is normal in my opinion, a good attitude is more in line with market investment.
There is an in between zone for that type of thing. For example when the price of everything goes up in the world that means the sellers need more money to cover their expenses, they are not making the prices higher because they are greedy, they are increasing the price because its a cycle. For example when you buy a burger and that burgers price is increasing that's not because the shop owner wants more money, they are increasing the price because beef prices are increasing, beef prices are increasing because butcher is getting the cows for more money, cow prices are increasing because the food for cows is increasing, foo... well you get the idea. Hence when all of that increases eventually the inflation goes up, when inflation goes up the dollar becomes a bit less valuable, when it becomes less valuable your investments worth more in dollars. |
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I'm not even sure whether this is a bad or a good thing right now but this is definitely unusual and I have never seen it before even though I have been in the crypto scene since 2014.
From what I can see the development (Lightning network etc.) is more active than it ever was, so shouldn't that give a little boost to the price at least?
If you say that you haven’t seen such since 2014 then you’re lying, unless maybe you weren’t really here in 2014. There are so many times when the price has been stable. I know this time around it is something else and reason being that the price went from very low to high and then dropped from there, that’s why a lot of people are complaining. Most of them complaining because it didn’t work out for them, they thought it was free money (some kind of money making machine) |
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Now that more and more countries are starting to go cashless ( http://www.bbc.com/capital/story/20180427-does-a-cashless-society-benefit-everyone), is it possible that we also start converting to cryptocurrency? If that happens, what do you think are the advantages and disadvantages? Paying virtually is very convenient for me as I do not have to bring cash and it prevents petty theft but what is the disadvantage? I don’t see any need for the world converting to cryptocurrency. Why exactly would they be doing that when there are lots of things that needs to be done with cash? We don’t need cryptocurrency, although I do know a lot of crypto enthusiasts here would make noise and rant and say all sort of rubbish without thinking about what might be the consequences, but I still stick to what I said, the world don’t need crypto. Everything is good as it is. |
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We are indeed the tough times of trading or investment in cryptocurrency. After the ATH of Bitcoin last year, we are now at the stalemate at 10K USD mark for almost 2 weeks and no sign of going up. I was thinking to hold for as long as I can since I believe in crypto.
If you’re at the losing position what is the best thing to do?
A lot of people keeps telling you the same story when you ask this question on what to do when things are getting rough like this, they keep telling you to hold your cryptocurrency. Cryptocurrency is a risky job to do, and if you are investing just have it in mind that you can lose that money at anytime. When things gets rough and you can’t take that risk, then the best thing for you to do is to just withdraw the funds you have invested and keep it somewhere else where it will be safe till everything gets back to normal. |
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Hi everybody, I spent the last year building a cryptocurrency based trading platform different from anything else available in the market. I'm now in the phase where I need to register the company and get started with the licenses process. I know that until sometime ago most of the exchanges and trading platform didn't had any license, is there a way to get started without a license (legally) and apply for it later on? I wonder how most of cryptocurrency projects can afford to go live if they have low budget like myself. I hope somebody can help me to figure out  You can start up your trade platform without having any license depending where you’re living. So it will be best if you make some research about how it works in your country or maybe ask those around to know. Though there is one thing you said that I’m a bit against “having a low budget”. Before you do anything you should be ready for it and we’ll prepared, you don’t just start up something when you’re not fully prepared, cause not having enough budget might cause you to go bankrupt tomorrow and you know what always follows. |
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How exactly does that prove that the market is positive? The market has already fallen to a lower rate and everyone is just hoping that it gets to recover from where it is right now. There have been same news as this for long, but the market has never gotten better, rather what we keep seeing is down and down everyday. Hope it never fall below the $3k plus price is at now. I think that this rising is temporary, maximum it can get $ 7600 - 7800 and soon it will go back (down) again. In my opinion we will be in flat during whole this year.
the market is not passionate, because the increase that occurs is very unstable and tends to be momentary, this is like there is a big game in trading, maybe there are big traders who want to profit from very sudden and momentary price movements, indeed bitcoin has not been received in all countries, but extraordinary potential in the future can be a special attraction for large traders to be able to master bitcoin in the future, by making prices unstable, they can buy cheap prices to save, because they know that in the future bitcoin will go up again. Nah there is even more decrease than the increase there have been lately. Although since yesterday the price has been struggling to get pass $3,500. It actually did but dropped back again to $3444, hope it gets back up. I really don’t want the price to keep dropping cause if it goes below $3k, I might just call it a quit and find something else to focus more on at the moment. |
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Research show what bitcoin mining for bitmain cost ~2k usd.
I think we can fall more in 2019 its safe
It is not mining that makes me sure, mining was costing about 5.8 thousand dollars or so (because of difficulty) and now it costs less, which means if needed be bitcoin mining difficulty could drop a lot further down and make the price go lower. What makes me believe is that there are people out there who have been trusting on bitcoin going up, there is a whole market and community that waits for bitcoin to skyrocket one day, these people have been waiting since the last time bitcoin was 20 thousand dollars. It didn't do anything during 2018 and it is not looking like it will do anything in the next 3 weeks neither. So what we believe is that bitcoin and market should be going really high during 2019 after all this wait, we can't be waiting for this long for nothing, eventually it will have to go up. Any chance of anything could suffice in the next year, and I would not say the possibility may still not be there as long as the market is generally in a descending triangle, so the sideways movement until further notice in which direction of bitcoin takes is only going to be known with time, which in anyway would happen before the end of the year. Sure, with a breakout above this triangle upward, then the possibility of seeing quick buying spree may suffice, but at the same time, I would not want to be banking too much on it, as descending triangles are usually bearish. |
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with the current market conditions it is indeed a good time to buy and invest and you may have to hold for a long time because it will take a long time for the market to recover
- I do not think what you say is a good suggestion because why you can be sure this is a good time to buy while the market is still showing negative signals and can fall deeper than ever, agreed that the value at this time is very cheap but it can still be cheaper, even back to the original times, your suggestion is really unfounded and unreliable. And with such doubts, I think this is the time to wait, wait for the rebound and the wave of growth to come to market, thinking about investing in this moment only makes us get troublesome and dangerous I think people are right about this, if you talk about bitcoin than yeah buying the dip is great idea however if you are looking into buying the dip for altcoins than it might still be dangerous because when bitcoin is going up only a little without a proper bull following it, altcoin prices loses value in btc form. They keep their dollar value but you are missing out on keeping it at bitcoin and making profit. However if you get bitcoin from this dip I doubt you can ever regret it because the price seems to fluctuate constantly between 6 and 7 and right now its the time for 6 so the following must be 7 if the logic stands once again. |
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I still trust ethereum a lot and even though the price dropped from 1500 dollars into as little as 98 dollars there was a lot of great news that came out of ethereum. There was a lot of new utility that has been taking its roots in 2018 that we can see in the future hopefully and there was a lot of people (famous people) that kept on talking about how "bitcoin is great but ethereum is where its at" this year and that gave me a hope however looking at how things are going I am not too sure about the short term affects of it. I am 100% sure ethereum will be x5 at least one day and even more but I think thats not right now. At least until 2018 is over (this month) nothing major could happen to ethereum and the fact that it is still tied to bitcoin price swings shows its not its own coin yet.
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