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Never got scammed here. Poor guy, must have felt like shit for him. I would have been mad too. But to be honest, he has to blame himself. There probably were some signals which showed that the project will end up being a scam and he might have ignored it(maybe a extremely good pay which he did not want to lose). He should have properly gone through everything before joining the campaign. Hope he learned his lesson and will take precautions in the future.
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No one knows. The market is quite unpredictable. People who say that the price will once again sky rocket are just throwing a blank guess or is predicting based on previous years chart. But we all know that crypto currencies are unforeseeable and might deviate from its normal behavior without any kind external/internal change. We might see the opposite of what has happened last year, who knows  . |
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Better find your own altcoins to invest on by researching and analyzing the market. Asking suggestions from people over here will just give you biased answers. They will always tend to support coins they have invested on even if its a worthless coin. The best thing to do is select some trending coins and filter out the coins that "you think" has good potential. Invest on those.
I would suggest you to look on BTC, ETH, LTC, PPC and NEO.
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The price actually seems to be recovering but very slowly. Ethereum was in huge pressure after the price fell below $187 USD, but did somehow manage to break the major resistant level and is now above $210 USD. We can expect the price to move a bit more higher but this time more slowly. This was the same case with bitcoin too.
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The continuous decline in Bitcoin prices may make investors very nervous and many people have lost confidence in Bitcoin as well as crypto.
This is a very normal psychology and nothing strange in life, in any field, there are two emotional state is governed by FEAR and GREED.
Especially in the financial market, not just the crypto market, when prices are rising, people often feel GREED, focusing only on positive trends and never thinking about trends. Negative, when the price goes down, then the person feels FEAR, then focus only on the negative trend and never thought that everything would be positive again.
Talk about this for people to imagine that believing in a current trend is only relative and timed, so look at the market trend with an objective eye (out-of-game) so that If not, then it will not be absorbed in the psychological game of the market. Finance is a game of psychology!
What do you think about this?
Psychology does play a game over here. But its not only "fear" and "greed". "Regret" also plays a role over here, which is the worst since the person ends up taking a wrong decision later. To be honest, emotion should not play any kind of role while investing. Your emotions might stop you from taking the right decision. Just keep in mind that you have joined the market knowing that there risks involved. Just don't panic when you see the price falling. Keep investing as eventually the price will rise back. |
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They are not accepting in directly, but using a third party payment gateway called bitpay. This means that the seller does not have to handle or do anything with bitcoin since when a user makes payment through those gateway, the seller actually receives fiat currency. The gateway themselves converts the coin to fiat and then pays the merchant.
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I would say only a total power failure can bring the Bitcoin currency to fall! Beourse then it will become very hard to mine only a few eco miners will work And that is very unlikely i guess  That is not the only case. If some kind of flaw is found which can not be fixed no matter what, I am quite sure bitcoin will end up going down the drain. Or lets say, some new cryptocurrency has been made which follows all the protocol and solves all the problem we are currently facing with bitcoin, then there are chances of bitcoin becoming valueless. But then again that is highly unlikely to happen. |
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Not really. They living in dusty desert (being stereotype like you) does not mean that they do not have access to all those technologies. And who do you think are backing them up? Obvious those very "powerful" countries are. They are hiding their track by using crypto currencies (probably). But this does not mean that crypto currencies are being used for criminal purpose only. Remember, they existed even before crypto currencies were invented.
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True. You should be taking advantage of the price drop, not be panicking. We have seen this trend before. The price goes up and then starts to fall down, but eventually starts to recover and reach a new all time high price. So its best to start investing as much as possible when the dip begins. The more it goes down, the more you should be investing to maximize your profit.
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I was wondering if there is a required amount of bitcoins you need to have before you start trading? Also, a little out of topic, but is there a required amount that a person needs to be earning per month before he could start buying bitcoins?
To answer your first question, I would say the "required" amount is the amount you can actually afford to lose. Keep in mind that trading is associated with risks and you might invest on scam coin and might end up with nothing. Just keep in mind that the higher the capital, the more the profit you will be making. The more your spread your investment, the less is the risk. And nope. There is no such requirements when buying bitcoin. You buy if you can afford, period. |
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Because most people are gullible and greedy. The scammers take advantage of them. Those people fall for their scam and this encourages more scammers to scam others in the same way. Why wouldn't they do it, if it is easy money for them? At least people are learning lessons from them (quite expensive) and being more careful in the future.
Another reason why they turn out to be a scam is because they end up not working on the project as soon as they realize what they are trying to deliver is not possible.
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If you are looking for making some good amount of profit with just less risk, then i would suggest you "NOT" to invest on ICOs. Most of the ICO ends up being a scam. They take users money and ends up running away without delivering what they have promised. This in turn affects the price of the tokens in the market and the tokens eventually dies. You are better off investing on bitcoin and some trending altcoins.
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Bear market is even favorable for new investors to buy on low price so as to use less money to get it as well as they can make large collection that will pay off the most in bull market. Always think for benefit and focus on it so that you will never face with any kind of difficulties or useless discussions as well to get rid of complications. Now if you have invested then have patience and wait for the bull market to appear.
New investor would actually feel reluctant to invest during a bear market. The price fall will totally discourage them from investing unless the price has hit the bottom. This is when all the whales and new investors join and jumps on the train. They start investing as much as they can and this causes the price to go back forward and the bull run begins. |
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Based on what facts did you state that the price will increase soon? I mean what assumptions did you make? Stating those facts might have made your post more authentic. Since the price is fluctuating a lot, short term trading might result in a good profit, but the risk is extremely high. And I think you got the concept of short term trading wrong (since you stated "because market place will increase soon"). Holding means long term trading not short term.
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The price fluctuation is a huge issue. Crypto currencies are still on its infant stage and has more to develop. People still needs to adopt the usage and it might take us another decade for getting used to it. Right now it is just being used as a storage value so people can make profit out of it. This is the frame of peoples mind we need to change.
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That is right. You should keep holding and not rush yourself to sell off the investment as soon as you see the price dropping. The price will eventually recover, since the price drop gives opportunity to new investors to enter the market. They in turn causes the price to go back up. Just keep in mind that when the price starts to drop you are not "losing" any of your bitcoin. You still have the same amount. In fact you have chances to buy more bitcoin at lower price.
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Of course they do. Isn't that obvious? How do you think the government of the corrupted countries hide their money/assets? They actively or indirectly causes price manipulation and takes the advantage of it. They politicians are the real sly fox and they know how to make people fool and secretly invest their "black money" to make more money off it. Nothing unbelievable.
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That's the worst thing you will be doing if you jump in during a "hype" and sudden price "rise", is lose everything (considering its just a random coin that has been pumped for no reason). The best is to sit back tight and watch the price fall back down. Consider having a drink too since you saved financial assets from committing suicide. The best thing to do is actually not invest on those random coins that rises for no reason since the risk involved is much higher than usual.
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The term you used "cryptocurrency hack" is actually a very broad term. But honestly, there is no complete solution to any kinds of hacking. We don't need any "system" or "app" to solve such problems as those "system" or "app" might also become some sort of way for hackers to penetrate the system. No matter what "preparations" are taken, the criminals will always find a way out and breach the system. The best we can do is be extremely careful and during those event try to minimize the loss.
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you need to change your strategy. most coins are not worth keeping and you should dump them anyways. or hold them on exchanges to be able to sell as fast as possible. only hold a coin that you think is really good and not hyped. for that you can use popular wallet that are tested. there are wallets that support multiple cryptocurrencies which are gaining popularity. there is also always hardware wallets that support multiple coins such as Trezor.
as for Sandbox, it is not just one application, it is a concept. for example one of the popular applications to use is what was introduced above: VirtualBox. you can use one of the smaller linux distributions for installation so that it takes up smaller space on your HDD so that you can run multiple instances requiring smaller space.
Suggesting someone to hold their coins in an exchange wallet is the worst thing to do. Exchanges are not safe! No matter how popular the exchange is, it is never safe to store your coins for long term in an exchange. The exchange might get hacked (might be an internal job ) and you may lose all your coins. The exchange might go down for a while, and you might lose access to your coins when you need it the most. |
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