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Hopefully, Bitcoin has a great chance of spiking up come December... it really will be disappointing should all this expectation wallows into limbo and the price continue to depreciate even in December. For now, i am opened to any possibility of the market as i make enough investment as possible.
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Often our dream exist because of money, others' opinion or eternal expectations. This takes us away from what will truly bring happiness and fulfillment. And so i wonder to ask, if money didn't exist would you still chase the same dream?
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I have no intention of leaving crypto now. My goal is to make enough money from all my crypto investments. As such, my plan is to hold onto my ethereum , bitcoin and few of some altcoins i earned from my bounty campaigns for as long as i can while i observe and explorer the market for opportunities.
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Bitcoin and blockchain technology becoming obsolete is more less like saying Bitcoin and blockchain technology will die off and be replaced by a more better technology in future. The truth is, there is more room for innovation and the emergence of a new mind boggling technology... but that will not necessarily make bitcoin and blockchain technology outdated and useless. I am pretty sure as we advance in years into the future, dev team of Blockchain technology and Bitcoin are putting measures in place to keep these technologies alive so as to continually serve their rightful purpose to humanity. Bitcoin and blockchain technology are never going to be obsolete regardless the emergence of a new technology.
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Personally, i consider holding to be quite fun and rewarding.. the truth with holding is that, you literally see your money depreciating in value or appreciating on the market with the up and downs of coin price but technically, you you do not loss any money until you decide to cash out. you might wanna hold if you can not afford to loss some money.
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I can only for-see this happening when Bitcoin is no longer treated largely as a currency necessary for making investment. I am afraid, if Bitcoin continue to exit mainly for investment and nothing better than that, making online payment with Bitcoin will become pretty expensive. Hence major reason why companies might not consider bitcoin as the most suitable mode of payment.
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Personally, i have never had the idea of quitting since the start of the red market. the current market does not scare me into taking actions on selling my ether, bitcoin or any other altcoin that i possess. As much as i am in need of money now.. i resist the temptation to sell my coins and quit crypto investment.
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I agree..., only newbie in the market are fond of selling their coins in panic when the see the market turning red and remaining yellow for long period without switching to green. This crypto business is for smart mind and determined people who are ready to make money regardless the volatility of coin prices in the market. Abeg, if you feel you can not hold you coin as the prices drop, then sell it and loss your money.... because just when you done selling then market will begin singing ..."shame on you"
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The above reasons are best suited for why we should pay taxes. But it appears most revenue made from these taxes collected have been greatly been mismanaged by our leaders. Hence, the reason why people feel reluctant in paying taxes. I believe the best way to inspire people to pay taxes is by ensuring that there is absolute transparency in how fund collected as taxes are effectively used to develop the a particular nation and meet up the need of all citizens.
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i think the may reason why people are often scared to invest in crypto is the uncertain of their chance of earning big or losing big during a particular season of the year. Aside this, another reason why people might be too scared to venture their funds into crypt investment is the increasing scam in the crypto market. currently, scam has saturated the market that people have become very in secure and indecisive about their investment in the market.
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What i often go for is short term investment. This implies that i involve myself largely in day trading. With that, i purchase a coin at a certain price today, i try to hold it for sometime while observing the market for spike in price to sell it... In lucky seasons, i can sell the coin to make profit in a week or two.. However, during bad season, i hold onto the coin until the market is good to trade... i do not necessarily buy a coin and close my eyes over while the market get good at certain period that i can sell to make profit. and i tell myself i am doing long term investment. I invest and make profit when the market is juicy.
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Personally, i do not see any sense in people weeping over Bitcoin state in the market. We all should no by now that its technically necessary for the price of a coin to go high up in a season for people to make profit and go low down the valley so that those who are to scared to hold the coin will be moved to sell their coins out. There's actually no lost if i refuse to sell my Bitcoin at a price lower than what i bought it.. In events when Bitcoin price continue to depreciate, i will do my best to hold till the price appreciates to the level i desire and ready to sell to make profit... I think Bitcoin and all other coins will fend for themselves..
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The long term vision of the project is what especially makes me trust a new Altcoin in the crypto-market. Recently, i participated shortly in one promising bounty here on Bitcointalk. The vision of the project travelled way back into the future, like say 5 years from now.. and so it was no surprise to see that the coin being purchased entirely with 30 minutes of the start of it initial coin offering. With this in mind, there is no way i shall loss trust in the coin even its is been dumped to the lowest price.. because, i believe no matter how long it takes, the coin well shine bright in the crypto market soon before i know it.. hence i shall keep holding onto my trust in the coin to make some good money
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I think one thing we all should be aware is that, investing in Bitcoin along does not guarantee you earning alot of profit. While many believe that a slight increase in Bitcoin price is equivalent to great profit, I would like to refer you also that a slight decrease in Bitcoin price also amount to some lost to investor. I shall therefore not recommend people to selling all the Altcoin to go purchase Bitcoin. Rather, i would advice that you hold a little of Altcoin and a Little of Bitcoin.
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I think pump and dump is the best way to stir up the crypto market. I am not too sure the crypto-market will be that interesting in events where there is no pump and dump to allow people make profit and experience some loss. Personally, i have made some bad calls during pump and dump events.. and i have regretted greatly. However, with the past event, i have learnt my lessons and ready to make some good money during those events.
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Frankly, i think transaction with Bitcoin has become slow lately, compared to transaction with other coins. Once i try transferring 0.0065 btc from one wallet to another and it took pretty long time for blocks to finish building up. Moreso, the charges pertaining to the transaction was pretty high.. hence making conducting money transfer with the coin kinda displeasing
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I am not too sure the world is ready to switch entirely from fiat currency to digital currency. While i must admit that mobile banking and money transfer is obviously making payment easier for the ordinal person, Not all individuals are conversant with the new technology. (Blockchain technology) and all other features that comes with it. And since, this technology is pretty complex for the ordinary person, i am not too sure the world will be ready for a total digital currency without fiat currency. The best that can happen is both fiat and crypto co-habiting with each other.
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On regular trading day, my decision about how much coin to buy depends on how much money i have, and how much i wish to spend on that particular coin. After purchasing the coin, and per the state of the market and how much iw wish to earn, i decide on whether to sell all/some of what i have purchased. I really do not like holding onto coins Altcoin i have purchase during day trading... If you find me holding onto a coin, it means, the market price of that coin is not pretty good at the moment..hence, i am waiting for the right time to sell it.
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Apparently, ICO investors continue to fall prey to innumerable ICO scam. The effect of this is very devastating on investors perception of crypto-project ICOs. While it appears there is no apparent solution to address the current scam associated with ICO in the crypto space. I propose that we help each other in finding out the best ways to identify and separate genuine ICO from fake ones.... Share your view and help a friend from falling prey to ICO scam. Let help build a healthy crypto environment. Fight the scam now.
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I strongly agree that Bitcoin currently has no competition. Currently, its market cap is $111,145,819,319, and its is priced at $6,461.45 per coin. The next promising coin after Bitcoin is Ethereum, with a market cap of $36,561,197,095 and priced at $361.13 per coin. Limiting my comparison to this two top coins on the coin market should alone help you understand what i mean by Bitcoin has no competition. in case you not too satisfied with this comparison, you might wanna randomly pick a coin from the market and compare it against Bitcoin. Maybe you will be twice as impressed.
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