Its not easy to quit gambling, I have to agree that some people commit suicide because of this addiction but for me you cannot do this alone better to have someone that can be on your side in times like this. It takes time to do so, but if you really want to quit gambling you will start right now.
People commit suicide because of their debts which sprouted from their addiction. There are many ways to quit an addiction and therapy is one of them. There are group discussions which allows a person to cope. Addiction can't be cured overnight and it's a long process which one would undergo. I can't speak for myself since I had no similar experience but perhaps what OP was trying to say is that in order to quit gambling, it should come from you. Even with all the therapy in the world, you won't be able to quit gambling if you don't help yourself. You can spend millions in therapy, or try out all the methods to quit, but if you won't do it for yourself then no one else can do it for you. |
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Ponzi scams are still able to propagate because many still participate in it. Despite numerous safeguards being made to avoid these schemes, they are still rampant because many people still fall victim of these scams. People are too blinded by the false promises of huge returns even when it sounds suspicious. Perhaps out of desperation or greediness, these people simply want to gain profit. Unfortunately, they do not know that there's easy way to get rich.
Even with conferences being held to help promote awareness of these scams, they won't go away unless people start to become more cautious and wary. Scams would just continue to become successful if we do not learn how to protect ourselves.
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Honestly, I was able to start out in crypto with zero investment. I earned my first BTC through a faucet, back when faucets was the only thing I knew about. Then I started to join signature campaigns and earn some BTC from it. You won't be able to earn significantly, but it was something. It's not enough to make a living, but it's still of value nonetheless. From there, I believe it's a rough start but you can start investing or trading from it if you save up enough. You can use your earnings as capital or other investments.
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$10k is broken and with this a lot of messages of people that sold at below $6000 trying to "cut their losses". Mostly because a lot of people was about to go bankrupt as their longs got liquidated. And with this, also came the super bears expecting $1000 a coin again, so they put really aggressive shorts, of course, only to get destroyed by the current recovery.
Lessons to learn for the noobs: Never panic sell, never margin trade, you can FOMO if you are here for the long term (5 to 10 years) since it doesn't matter if you bought at $20k or at $5k as BTC will be worth millions eventually.
I spend more than one year with bitcoin and I was well aware with this situation and never sold. I remember the time when one of my friend asked me that the price is going to go below $6000 and we have to sell but I told him that no matter how much the price go down it will reach back to its highest value and will go more and now he is happy. I was about to get pissed of with the 6k price of bitcoin and was about to lose the confidence to believe that it will move up again. But patience is really a key. Panic may come to anyone but if you have that strong fighting spirit and enough knowledge and expertise on the bitcoin cycle, then you will win. I think that anyone who have invested would get either a little despaired or annoyed with how the price dipped really low especially after experiencing an ATH of almost $20K last December 2017. For someone who has invested a large amount of money, it would be inevitable to get a little scared. Seeing red and the charts go down would definitely dishearten most and make you lose faith. Fortunate are those who were able to stand firm and resist selling. Those who weren't able to are probably drying their tears right now. |
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I am new here and I do really want to learn more about cryptocurrency. With my humble request, could you give any tips and helpful sites for my question? Your comments is a big help to fill my eagerness. Thank you.
Well you must read more about the cryptos currencies news from cointelegraph , coindesk , newsbtc altcoinstoday , and any other related with cryptos coins news include bitcointalk. That's important things to be known by you to getting more information about it, the other source of information about the data of cryptocurrencies you can check on here https://coinmarketcap.com/ it is good website to know more about the data especially capitalization of marketcap. I'd like to add https://coincheckup.com/ it's a crypto research platform and a website similar to coinmarketcap.com but has mor in-depth discussion and information. It has a coin screener category which filters the various coins based on fundamental and technical criteria. If you plan to start on trading, this tool would really help you. It has various categories which allows you to see the coins based on smart contracts, real world assets, privacy and many more. We can give you numerous tips and helpful sites but it would be up to you to utilize this information. I wish you good luck on your quest of learning more about cryptocurrency. |
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As the saying goes: "Do not keep eggs in one basket." If you have enough money to split them into different portfolios, why not? It will even be more rational. One portfolio will support the other.
It's good for an investor to diversify their portfolio. If one fails, they would still have some back up. Investors don't usually focus on just one asset. It also depends on your needs and intention. Know that by investing in real estate, you may not expect some profit or a return of investment so easily or in a instant. Real estate is always a good investment, however it's harder to liquidate. My advice if you intend on investing on real estate is to check out lands which are still undergoing development but have the potential to be developed in the future. Somewhere far from the city but is starting to get urbanized. The land in a location like that would surely appreciate/accrue in the future. |
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Probably yes, because they are the generation who are more exposed in the innovation of technology. And this is very important for us to make preserve and make it run for a longer period of time this, digital currency or cryoto currency by this young ones who will grow to translate the cryptocurrencies and maintain this type of innovation of real world into digitalize generation. But in line with that the younger one is more open to technology, we can say that there are a lot of adult one who sustain and make it possible to develop this cryprocurrency and so, the future ones they will just implement and preserve on what we’ve done and create.
I have to agree. It's quite likely that there will be better adoption of cryptocurrencies because of the younger generation. Just now, the young generation is starting to be open and are more interested in crypto. The older generation are more traditional and would sometimes rather not deal with technology. It's possible that the younger generation would be able to innovate and create more developments for crypto. Just recently, I've seen some crypto start ups made by young minds. The younger generation are much more innovative at such a young age and it's with this kind of attitude that would pave the way towards a brighter future for crypto. |
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I believe that your child is too young to learn about bitcoin or anything cryptorelated. 10 year old kids should be playing and enjoying instead of learning about cryptocurrencies. Imagine being taught about financial management when you were only about 10 years old instead of getting to play games and having the freedom to not worry about anything else. Don't get me wrong, I would advocate the early education about finances at a young age however we must consider that they would have no interest on this at such an age and they should instead focus on other studies perhaps.
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This would be interesting. Personally, I do my own research when I want to know whether something is a scam or not. If there were a website which would help me verify scams, I would definitely use it. With numerous scam ICO these days, many would want to avoid these scams as well. Your idea may help a lot of other people and would help them save a lot of money as well. It's also interesting that your co-founder is a lawyer, who may help with liabilities. Your service would be very convenient for bounty hunters out there.
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I have only heared stories about people who were involved in such situations. During the game they were very excited, since the beginning of the gambling session they were winning a lot and enjoying the prizes, but at some point they started losing money, but didn't lose the confidence and kept playing, hoping to recover the losses and exit the house with some profit, but it didn't happen and I think everyone knows what happened next, similar to what OP described.
I've heard of similar stories as well. I believe that once you've reach this point, a gambler has reached their peak and if they won't stop, they may fall into addiction. To be able to use up their money to get home is already a bad sign. It's a good thing they haven't brought a car otherwise it's possible that they would even include this with their gambling. A walk of shame must be a really humiliating experience but if a gambler still continues even after experiencing this it's either they're crazy enough to think that they could recover what they have lost or they are already crazily addicted. |
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I was thinking on some news i read a couple days ago some news about the bitcoin price manipulation. What would happen if we make a coordinated trading whit a high number of tradings partners explaining better buying and selling at the same time with all tradings partners buying will grow up the price and selling will down the price in some way the price will be predictable it could work better in low price cryptocurrency like NXT on USDT to manipulate the cryptocurrencys price a high amount of money is necessary but if we dont have a high amount of money we need many tradings partners operating at the same time it could get the maximum profit for all please tell me if it could work
Of course it could work, this is what a pump and dump group is. Given that crypto is unregulated this is allowed (It's not allowed in more traditional markets) but you need to know that the people you're doing it with have deep enough pockets and are trustworthy. Someone can easily cash out before your target and then you're all left holding falling coins. But you can't get the maximum profit if you are late to exchange your coins, you still need a large amount of money to play the market price. There are many groups of traders mostly in telegram they are just sharing what coin you should buy and when they are planning to sell their holdings. If you join in this pump and dump group you must be active and updated so that you don't be late when the time for selling comes. If you are late, then your coins will stay no profit until your coin is useless and lose. So if you are planning to build a group or join in pump and dump group you must be updated. Yes, it actually works and is already being practiced. This pump and dump is already being done by trading groups. A group of traders is usually formed and they regularly update each other through social media or communication platforms such as telegram or facebook groups. It's really effective and if many in the group would come through, the price movement would likely follow. The trick here is to keep track of these group's intended actions so you won't get left out. |
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I think there is truth in what you say, and I agree that a lot of people say bad things about bitcoin just to lower price even more. But I guess that is only natural, things like that will always exist in economic sphere. People will use other's fear for personal benefit, and that is happening now. People should start thinking with their own head, and stop being fooled by wrong or unreliable information.
I guess that some of the others are just riding the bandwagon whenever a FUD comes out. People are easily influenced by what other people say and fear is a very manipulative emotion. Unfortunately, there are many those who fall for these FUDs especially when there are many who would agree. It's quite possible that the FUDs are coupled with a battalion of fake supporters. But then, there are just those others who get influenced and are genuinely just scared. |
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Bitcoin does not provide income. You may profit from your speculation, but it is not income.
Furthermore, gains are not guaranteed or even consistent. For example, people that bought in December at $19k are going to have to wait a long time just to break even.
That's true. Some people even consider of giving up their regular jobs just so that they could focus fully on bitcoin but in reality, they are relying on something which is inconsistent. It may be true that one would be able to profit handsomely through crypto or Bitcoin however you cannot depend on these gains for your daily expenses. There will be days when you will profit, and there will be days when you will not - especially for the traders. It would depend on the behaviour of bitcoin's price. If you were to treat this as your main income, then it would be possible that there are days when you can eat and there will be days when you cannot.  |
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Your title is a bit misleading,OP.China will not regulate cryptocurrencies.The PBOC wants to create a state-backed crypto,while they continue to ban crypto traders,exchange platforms and miners.
Their plan is totally stupid and pointless.It would be cheaper for the chinese communist government to adopt bitcoin or some altcoin ,build a big government owned cryptocurrency marketplace and invest in mining hardware.Building a blockchain from scratch and inventing a brand new cryptocurrency will be a failure ,in terms or costs and security.
I similarly had the same initial thought and first had the impression that China was making major developments for crypto. It's no surprise that they are now on the move to have their own regulated cryptocurrencies. Nothing will ever get in the way of China which is not under their control. Not even google has made it's way. China has their own google called "Baidu" because google is out of their control. Baidu basically has almost the same function and interface, so they must be doing the same for cryptocurrencies. It may be a lot more efficient to just allow the use of Bitcoin and altcoins but the Chinese government prefer to have regulation. |
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I had the same feeling during my first encounter with crypto. I wanted to know more and was hungry for more information I practically stayed up late because of searching and reading up. When I found out that my friend was earning tremendously though crypto, I got much more adrenaline. I felt like was left out and I needed to catch up. I wouldn't call it an addiction but rather a spark of interest which lasted a little long. I badly wanted to catch up on investments and get started on trading so I went in a rush on getting to know more about crypto.
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Well, sort of, at least for the majority of ordinary and wannabe traders. It is relatively easy to earn money on a rising market but it becomes a completely different matter when a sideways market sets in like it is now in the cryptoverse. There are two major factors that turn trading into gambling for most players in this type of market which are presented below.
First, in any financial or speculative market, where Bitcoin rightfully belongs to, you can earn only if you take money from someone else. It could appear as if everyone earns with the rising price but things reveal their true nature when the price stops rising. It is kind of obvious but accepting this is necessary to understand why you can be the one losing the game in the end.
Second, some market participants have an unrestricted edge over the rest of the pack which means that under no circumstances they will be losing. These are arbitrageurs, insiders, exchanges and their likes. For example, it is impossible to beat exchange since it is 100% sure money for them when they can front run your orders and do a lot of other nasty things which you can't.
Given these two circumstances, it is easy to see that if you do not belong to the group of market participants mentioned above, trading pretty quickly turns into gambling for you. So your only chance to win is pure luck. But luck is not a friend of consistency, therefore the only consistency you can reliably expect is losing to someone who has an undisputed edge over you and the market.
Feel free to comment and post your thoughts and ideas here.
Your analysis is quite spot on but at least you have lesser chance to lose money when trading. You can lose all your money instantly when you are gambling. On the other hand, you will only lose all of your investment on trading if you failed to get out on time or when exchanges close. Most of the times, you would only lose a percent of it but not all. Still, it doesn't change the fact that you take money from someone else when you profit from a trade. Thats the only difference between gambling and trading,the chance of losing is minimal in trading that gambling but the essence is the same,your betting money to take the profit,this has been my outview eversince i compared this both.i am not a gambler but im a trader,but now i am confused between this if i will continue doing both or forget at all.since i am earning in signature campaign and having a work and business There's still a chance for you to lose your money in trading just like in gambling. You may also lose it in instant and just as fast like in gambling, the difference would be your decision or choice. I guess this is the dirty reality of trading and exchanges which is done for the extra buck. As for the trader who is confused of what to do, I suggest to continue doing so if it's profitable. Signature campaigns only last for certain periods. As long as it's not detrimental to your work and business, trading is still profitable and you may earn some extra income through it. |
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Bounties and airdrops are great ways to promote ICO projects and in participation of these campaigns, I was also able to profit. The bounties I was able to participate in has enabled me to earn some btc and tokens while airdrops has given me small amounts of tokens as well. I have not profited from the tokens I have gained from the airdrops but these are of small value anyway and may be of worth in the future if the projects continue to prosper and become a success.
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Getting a 1% crypto back on every purchase plus having the option of which crypto would be very encouraging and enticing for consumers. I'm not a fan of credit cards but I would definitely purchase one in this case. It seems that there are already a lot of individuals who are interested and crypto seems to be quite known around their area. It's amazing the developer is still so young and was able to come up with such a concept at his age. It just shows how the future of crypto is bright in the hands of the new generation.
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I wonder how this went well for the Russian men? I imagine that most women prefer a material gift over cash, so I'm not quite sure they would prefer a crypto gift unless they're practical people. Most women I know are not so interested with crypto but perhaps the women in Russia are different. I don't want to be sexist here but it was just a simple observation. Only about maybe 10-20% of those who are in the cryptoscene are women. I'm betting that any woman I would ask would still prefer that diamond over bitcoin.
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As an investor, I guess it's normal to have such fear or doubts. You can't help sometimes but to think of the worst. It's also a good preparation in a way, because an investor would have to prepare and be ready for the worst situations. Unforeseen events may occur and it's best to be prepared. The same applies for other investments, not only with bitcoin or crypto. Investors of stocks etc. have the same fear even if they are very confident of their investments.
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