Hi,
Just wondering if you guys will stay in crypto (aka hold or sell your BTC holdings) if the price does not recover.
Lets say we are still around 6k-7k by December 2018 => Will you wait it out or give up and say "OK, we had a nice ride but we are not going up again"?
What about if in 2019 price is still hovering around 6k-7k and there is no sign of recovery to 10k+ (or even a new ATH)
Investments are all about timing and luck. When you investment, you must understand that the money that you are willing to risk is the money that you are also willing to lose in the event that the market falls. That is why, it must be thoroughly planned-out and a contingency plan must be made in order to avoid risks of losing everything. People who have investments know that they must diversify their resources in order to mitigate the damage of losing everything in one go. For your question, I would be faithful to bitcoin and still choose to invest despite the prices increasing/decreasing in a small margin for various reasons: - Recent news have mentioned that universities are starting to accept bitcoin as a business degree in their curriculum;
- Bitcoin reigns as the number one cryptocurrency in terms of market supply and price;
- Though there may be strict laws/regulations, it still remains to be tax-free in some countries; and
- Japan would likely develop further enhancements and breakthroughs in the blockchain for the success of bitcoin.
With this being said, I believe that bitcoin prices would skyrocket or at least increase in the near future, perfect for short-term gains as compared to other investment mechanisms. |
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To everyone complaining about the current situation crypto is in or questioning why its happening you need to keep in mind that if something triples in price in a relatively short period of time, it can crash just as hard in the same period of time. I remember when eth had its climb up $1400 people were ecstatic and they thought that we were never gonna see sub $1k eth again when just a few months ago eth was just $300. This greed brought on by the price influxes is blinding people from the reality that crypto prices cant keep going up forever.
People learn from their mistakes. It is very unlikely for someone to experience the same mistake over the same problems. With big losses in a trading investment, people should take the necessary steps and solutions in order to prevent it from happening again. Famous investors and billionaires all started with one thing- THEY FAILED with something which involves money, whether an investment or a business venture. It is indeed painful and heart-wrenching for someone to lose their investments especially when it involves large sums of cash but what separates millionaires from commoners is the attitude towards their losses. All of these are challenges that one must experience. Failure is inevitable but success is always achievable. |
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This is excellent for the cryptocurrency world as it may hone students to develop further enhancements and future developments in order to improve the blockchain technology. Offering a degree with business related to cryptocurrency is one way to highlight and spread the knowledge of it to the world. We could say that this is a one-step progress and is a win-win situation among the society and bitcoin itself. Though one problem that it might face mainly revolves around the government itself. The future of bitcoin is still unlikely and unreliable, as the government might impose rules/regulations prejudicial to its existence. In the event that countries would declare bitcoin as a contraband, that degree might be useless and immaterial. They must have at least a contingency plan about the possible hindrances it might face. |
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The list that you provided summarized the steps where an individual must follow in order their investments would not fall in the long-run. Though you have provided ample information and stern techniques, people can also invest as long as they have the means and capacity of doing so. Meaning, as long as they have can sustain their investments financially and they have the right discipline/attitude towards their investments, they would at least lower the risks of losing all of their investments. many people think, invest in bitcoin are easy and very profitable whereas many things must be learned first before thinking about profits,
they decide to invest in bitcoin without thinking about the risk of market volatility in which many of them will panic sell when prices down.
Yep, that's the conclusion of those who are only interested in big profits. They do not think that to get a big profit must go through a fairly complex learning process, ranging from analyzing the market, to train managing emotions in managing funds. People who do not know about the basics of investment and the background about the nature of the investment tend to only focus on the profit side, rather than understanding the big picture. Usually, these types of people tend to fall short in the long-run due to their greediness and lack of understanding in the market. Whereas people who at least are knowledgeable about cryptocurrencies/bitcoin has the opportunity to predict price dumps or skyrockets depending on the market supply and new circulating throughout the media. |
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Some of us have known gambling since childhood. well, I want to ask you what your first bet is .... if I bet with my friend when playing snake ladder who will be the winner at that time. that's the way make me knowned about gambling.
Oh sweet summer child! I remember my first gambling and it involved in-game currency in Dota 2 around 4-5 years ago. When Dota 2 was relatively new, the main currency for trading revolved around 'KEYS' for crates. My friend told me this betting website wherein you may have the opportunity to earn 5-10 keys per day depending on your luck (like any gambling advertising). I first started trading my 15 keys and luckily, I managed to win up to 30 keys then it all fell apart from that point. I started to continuously lose until all of my keys are gone! The problem with gambling is it creates this endless illusion of an individual gambling in order to recover his/her losses. It tricks and manipulates the brain to gamble more despite winning or losing due to greed. From that point, I understood the implications of gambling and its detrimental effects to the society as a whole. That is why gambling can never be profitable! |
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I am 50/50 on this. Is it a good chance to buy and we won't see 6k again or is it a huge risk and it might crash to 2k or even to nothing. Are people buying now or just watching and waiting. There does seem a big volume of Bitcoin changing hands today compared to the last couple of weeks. Are they buying or selling. Why has it gone down so much at the moment. So many questions and few answers. I think it's looking a very risky business at the moment.
This actually depends on a lot of factors, mainly: - Do you have the capacity to invest money and bear the huge loss in case of a market crash?;
- You must do your homework before investing by checking news circulating about bitcoin;
- Before you invest your resources, consider it as money that you are willing to lose to at least mitigate the damage; and
- If you have the means, then why not? Investing into bitcoin is always a high-risk, high reward system
Though there are other reasons, personally I suggest that you must do your research brfore investing and avoid rushing as this tends to lead to your investment’s downfall. |
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I think the major way we could work to improve the bitcoin community is by actually having community spirit, treating each other as comrades rather than competition. Helping to build each other up, rather than knocking each other down. Right now the community is quite hostile, new coins actively try to discredit old ones, and vice-versa, there is no real attempt to build a better coin for the sake of the future, but instead appears to be done only for maximum profit. This is no Satoshi's vision.
#This. You have actually hit the bulls-eye. This is I think the main bitcoin community (the forum), yet what I see is some flaming, hostility, discredit, bullying a divided community which I think counter-productive. I profoundly agree. Nowadays, the bitcoin community has been focusing on acquiring wealth to the extent that it actually affects the community in a bad light due to competition and hostility rather than building and supporting each other. The existence of new coins in the market tend to create a stigma to the community due to the recent scams and robberies made to the people. Change is something that cannot be forced upon people as it requires self-inspiration and realization in order to work. We tend to focus on the big picture of earning large amounts of cash or having your own business but we forget to LOOK in the small picture, which is us. The biggest improvement that I would want in Bitcoin community is the elimination of spammers and cheaters once and for all as they are sabotaging the success of such a wonderful technology. Also, people should stop spreading and listening fake news regarding crypto market.
Though it may sound good, I see it as something that is very idealistic. We strive for a perfect world wherein corruption and violence were to be eliminated but these are inevitable for us to experience. The existence of cheaters and spammers reflect our society and the world we live in. Though there may be no perfect system, a strict or regulated form of rules may do the trick but this may cause dismay in acquiring new investors as they may be disheartened. |
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I just stop looking at bitcoin price. It hurts me actually, that's why I took this decision. I am holding few of BTC and I will not look at my wallets too for 2 months. I hope after 2 months when I will go to see bitcoin price, maybe I will scream happily. What about you guys?  Some people considers on using that as a technique in order to mitigate the damage emotionally and psychologically. Well if that method helps you in at least lowering the damage caused then why not? Relative to the price you acquired your bitcoin, I still encourage you to check the price from time-to-time as there always exists the potential of its price skyrocketing without any given notice. If your investments are made for long-term, then you may continue on doing this method but if its for short-term then I highly suggest to check on it consistently. I have no bitcoin but why i always check the price of bitcoin it's hard to see that bitcoin is dropping the price little by little. But i can do anything just to watch and waiting again that bitcoin price will grow up.
What is the point of checking the price if you do not have any bitcoins? I highly suggest that today is the perfect opportunity for someone to acquire coins due to its price falling from the $8,000 range. Soon, its price may recover and you may have the opportunity to earn short-term profit. |
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I'm currently investigating how to stay under the radar with regards to the profits made from crypto.
So, let's say we made millions, how do you get some of the money back to fiat,but without making waves with the government.
Added, I stay in a corrupt country where large scale government corruption is the norm.
Any help will be appreciated.
PS: Is the idea of crypto not to be anonymous.
This is really hard to escape the rules of government but yeah if you know trusted people that you can send your btc little by little and convert it into fiat then you can really easily do that. But of course you still have to be careful because government will surely make their ways just to know when your wealth came from. Is it really that difficult considering the anonymity factor provided by bitcoin when transacting due to its decentralized nature? Well if you really want to be safe, I prefer conspiring with someone who has also the same problem as yours and talk your way through it. You may also ask people around the forum regarding trading bitcoin via paypal in order to at least mitigate the risk of the government finding it out. Like you mentioned, you may also transact or convert your bitcoins slowly, but this may also leave a negative implication when the government investigates the transaction. Sneaking a great amount of btcs without govt notice can be proved harmful. Better you should pay what the neccessary tax is
The truth will set you free! Like what you mentioned, just pay the necessary tax related to cryptocurrencies to avoid any future conflicts with the law or the government since once they investigate and find that you have been illegally transacting without paying the legal fees, you may be reprimanded for it. |
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Bitcoin appeared in 2009, eight years, the total value of the circulation of bitcoins up and down 200 billion US dollars. Bitcoin was declared "dead" by the media countless times. However, it is undeniable that the media has a huge influence. Therefore, with each media claim that "bitcoin is dead", the price of bitcoin will drop sharply. The magic is that every time Bitcoin is alive, its price has hit a new high all the way. In other words, in the face of so-called drug poisoning amateur media reports, bitcoin gradually developed "resistance", negative media coverage for the impact of bitcoin prices getting smaller and smaller. What will eventually destroy bitcoin? If there is a force that can destroy bitcoin, it must be human greed.
Investors can destroy Bitcoin and the current Crypto market. Investors are the ones who decide the survival of all, it will continue to exist as long as the investor, and it will disappear when investors abandon it to choose a new more potential. Unfortunately this is very true and with the current crop of investors that we have, that is those who are quick to immediately sell when they hear rumors or FUD, This is actually one of the reason why the value keeps plummeting all the time and the currency is so volatile. Just like any investment mechanisms when investors pull out their investments from a certain company, it slowly becomes obsolete thus terminating its existence in a short matter of time. Unfortunately, the recent news circulating about bitcoin are mainly prejudicial conspiracies that primarily affects its price on the market supply which makes investors skeptical. Bitcoin appeared in 2009, eight years, the total value of the circulation of bitcoins up and down 200 billion US dollars. Bitcoin was declared "dead" by the media countless times. However, it is undeniable that the media has a huge influence. Therefore, with each media claim that "bitcoin is dead", the price of bitcoin will drop sharply. The magic is that every time Bitcoin is alive, its price has hit a new high all the way. In other words, in the face of so-called drug poisoning amateur media reports, bitcoin gradually developed "resistance", negative media coverage for the impact of bitcoin prices getting smaller and smaller. What will eventually destroy bitcoin? If there is a force that can destroy bitcoin, it must be human greed.
Investors can destroy Bitcoin and the current Crypto market. Investors are the ones who decide the survival of all, it will continue to exist as long as the investor, and it will disappear when investors abandon it to choose a new more potential. I both agree, media, investor or people who are negative about bitcoin can possibly destroy it. Some people will use bitcoin to scam so that they can earn money. With that impact people now will not believe and invest to it. Well indeed, media has the capacity and power to influence new/existing investors regarding the circulation of news about bitcoin. Remember, everything that involves money also implies that there may be an underlying reason behind such news, backed out by the government or large trading companies who wants to oust bitcoin out of the picture. |
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Hi, i have a question for my gambler's buddies as i'm perplexed by this. I have a friend who really wishes to gamble, but he is not allowed to because his uncle lost his entire assets and some million's and his grandfather to lost another million or so (they're filthy rich). So due to this facts he is barred from gambling, they believe he'll loose money to, they're stopping him on past incidents and i'm really tired of explaining them they're wrong, what do you'll think, anyone else faces such issues?
Are there any reasons prior to why he wants to gamble? I mean, from the information you provided it proved that he still owns tons of assets despite his grandfather losing some cash. Is it a form of entertainment for him? Does it provide refuge or does gambling cushion him from feeling depress? I am also confused to this ambiguity and quite perplexed. In adherence to those things that I mentioned, gambling can never be profitable in the long-run. It would only aggravate his situation since he might let his frustrations take over his decision making skills. Tell your friend to NOT gamble and to focus on the things that are paramount to their family's success rather than resorting to a method that may lead to his downfall. |
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Right now I love bitcoin from 2106 till now and currently I'm in college but by playing bitcoin I can make a lot of money what should I do? I prefer to play bitcoin instead of college. I also realize that bitcoin will not last forever therefore I want to take advantage when bitcoin still exists.
What do you mean by 'playing' bitcoin? Do you gamble it? Do you risk it through trading or engaging into investments? Assuming that you utilize one of those that I mentioned, be reminded that all of those options involves around 'RISK'. The next question would be, is a college degree paramount to one's success? Relatively- yes but it also depends on the character of the person. If you feel like by utilizing those options would make you financially stable in the future, then who am I to stop you? But do not forget that having a college degree and a stable job is paramount to everyone. Bitcoin has been on the negative light these days due to a number of factors. The decision primarily depends on how you see yourself in the future but please do not forget that education would last forever. Note: I know some people who work and trade bitcoins at the same time and they function more! |
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Yes, might be but in future. main problem is many countries are slowing the process of cryptocurrency around the world. when all country will start supporting it openly only then we can see this kind of romantic dream that bitcoin will replace the gold.
The main problem of bitcoin replacing gold is its legal status around the world. As you mentioned, a lot of countries have started to prohibit and impose rules prejudicial to the existence of bitcoin. The process includes an imposition of taxes, stern rules and regulations against ICOs in country, country prohibition of any form of utilization, etc. Another thing to consider, gold has been the basis of every country in terms of its currency value. Without gold, their currency will contain no value at all. Gold reserves actually reflect the status of a country and the value of their currency; it is purely on the economic side. If bitcoin were to replace gold, then countries must agree and view it as their main basis. Gold is a natural resource and bitcoin is a crypto currency. Per my thoughts, bitcoin cannot replace gold
thus bitcoin and gold have their respective advantages. so we have to make the best use of it to be more useful and profitable. interesting what if we invest in bitcoin and gold, because bitcoin and gold have a high value. Both of them have high value in terms of price but what makes them difference is their nature. Gold, in general, is tangible and is a non-renewable metal. Arguably, bitcoin also has a limited number of supply in the market. I doubt that bitcoin would replace gold soon as countries need to accept it first as their basis for their currency. |
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Everyone around me says, " sell all your tokens before bitcoin dies." Please tell me how to do?
Do not listen to them. Only sell your tokens/coins if you are struggling financially and investments are meant to be investment mechanisms. Just like any other investments, you wait for its value to mature long-term unless your budget subjects you to withdraw them. Though all of these depends on your decision as an investor since you may also sell your coins for short-term investments depending on the value of bitcoin. I know a lot of people who benefitted and actually profited from selling their coins but this its very hypothetical and situational considering bitcoin's volatility on the side. |
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This question has been answered before, but to give you an idea it’s impossible to implement bitcoin as our main currency for such reasons: - In order for a currency to be a currency, it must be accepted and viewed by the govrnment as something that is legal and has value;
- Its decentralized nature makes it difficult for the government to impose tax laws, that is why they resort to prohibitions of it being utilized;
- Its volatile nature makes it unstable on its price resulting to inflation that may potentially go out of hand; and
- A currency needs to be backed by something that has value. The value of every currency in the world depends upon the country’s gold reserves, unlike bitcoin which also has a limited number of supply
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I can't understand one thing here.
Gambling websites usually promote their sites as best web to visit for gambling and winning. They tell you: Come here and win big but also at the same time they offer investment option and here they say again - invest and profit much. Website profits when users lose money so..
This also at the same time means: Players lose much here, so invest in our bankroll to get huge profit with us.
Can't understand of those casinos..
Technically, investment and gambling involves risk wherein a substantial amount of money may lose its value depending on how you treat it. In gambling, there are ways in order to lower your risks but it involves a series of process wherein an individual may be addicted to it. In investment, people have the choice in order to lower the risks of losing your money. I believe that it may be a scheme in order to attract more customers or guests to their websites. Do not be fooled. If you want to invest then going into a gambling site would not be the ideal choice. |
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In some Asian countries bitcoin is very influential for people to invest. why it is still illegal for a particular country. to be more clear and can be received by the government like where?
You have to understand the factors on why bitcoin is illegal to most Asian/Western countries in order to derive the answer to your question. To shed you some knowledge, here some of the reasons on why I think bitcoin is prohibited: - Due to its decentralised nature, the lack of any government regulation makes it a threat to the community especially the existence of ICOs that may take advantage of the people;
- Its highly-volatile nature makes it skeptical to some investors as it results to some ponzi scams made by sketchy companies;
- The lack of collateral/security makes it a 'high-risk, high-reward' system; and
- The government's purpose is to protect its people and the country. Anything that may potentially infringe the security of the people in terms on its transactions would lead to the government exhausting administrative means for their protection
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A lot of people wonder what is the criteria of a good gambler, here are some of my thought about good gambler
a good gambler never chase profit
Profit might be the first reason why people gamble, but a good gambler never attached to the profit, the most important thing in gambling is excitement and fun experience, having profit is just the bonus
a good gambler able to control himself / herself
Self controlling is very important in gambling, without a clear mind there will be a lot of mistakes in betting and even causing reckless betting and losing all of the money in split second
a good gambler know when to stop
Setting a limit is very important in gambling, setting a lost limit will prevent you to over spend your money and setting a win limit is also important because in the long run the house got a bigger chance to win due to the house edge
a good gambler never cause any problem to the surrounding
A good gambler know that the chances of losing money in gambling is huge, so a gambler should never used daily needs money or borrowing money to gamble, and a gambler should never think of robbery or stealing to gamble
a good gambler can accept lost
When losing a good gambler won't blame the surrounding, cursing or accusing the casino as fraud places, losing is the half part of gambling, if you can't accept lost then dont start to gamble
a good gambler should able to manage the time
A good gambler know how to split the time for family, for friends and for gambling, a good gambler never neglected family or friend just because of gambling
We must encourage people to become a good gambler, so people won't always have a bad judgement about gambler
Actually, you generalized and summarized all the necessary traits not solely for gamblers, but also for people who are struggling financially. You know, the number one problem with gamblers is their ability to continue despite having a losing-streak. Never chase profits especially when you utilise a means which revolves around luck and odds. Gambling is the worst method to chase for profits especially when you are struggling financially and are also drown in debts. This summarizes all the questions about the characteristics and habit of a gambler. If all gamblers posses all this then there should be no gamblers doing crimes just to pay their gambling satisfaction. There are also no broken families or families that lost their financial life because of gambling. Take time to read this and make this possible in every one of us.
You are right but the problem is that not all gamblers share the necessary attitude, discipline and traits that OP has mentioned. When you are financially struggling, their vision and decision making skills tend to be blurred by the fact of paying your obligations. |
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