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61  Bitcoin / Bitcoin Discussion / Re: Less Worry: Celcius paid off its $114 million Bitcoin-backed loan in 24 hours. on: July 07, 2022, 05:30:59 PM
I don't know what are the plans of Celsius' management, but it is a fact that once a brand has lost credibility, it is extremely hard or even impossible to grow it back and it comes with a massive bill which I'm not sure who is willing to bet with.

GS are not fools, if they're getting into a business/partnership they know what they have gotten into and they should have a well-planned strategy.
62  Economy / Economics / Re: Sensational Push For Cryptocurrencies As US Fed on: July 07, 2022, 04:16:06 PM
Positive declarations about crypto will encourage citizens to adopt Bitcoin. We need to understand that Fed is not likely to make massive steps towards adopting Bitcoin. Even if they might make plans secretly about hoarding Bitcoin as it might become a global reserve currency, they won't disclose it publicly - you don't want other countries to accumulate at these low prices, don't you?

I'm not sure about laws and policies, but I think the government should announce if tax payers' money goes towards stacking, crypto right?
63  Economy / Trading Discussion / Re: Is trading really worth it? on: July 07, 2022, 02:15:07 PM
Only a minority will succeed in the short term, so I’ll never recommend it, if there’s not already a strong long term strategy in place, and short term trading is done with a few % of his overall investment portfolio as an addition. Idk any successful trader that just had a short term strategy and not both.

Well if short-term trading was not profitable why would traders still do it? The truth is there are a gazillion strategies to "play" the market. It all comes down to the personality and temperament of the trader. For example if you are high in negative emotion sensitivity you might want to play the short-term - as seeing a position being on a significant drawdown for a lot of time might take a toll on your quality of life and trading.

Moreover your trading style needs to suit your lifestyle. Not everybody finds trading to be fulfiling, nor everyone likes to spend most of their awake time watching charts move on a monitor (although with today's technology you can get yourself an impressive setup with led lights, curved uhd monitors and all that good stuff Cheesy )
64  Bitcoin / Bitcoin Discussion / Re: Ignore the dip and Invest in Bitcoin for long term on: July 07, 2022, 09:47:44 AM
Not just ignore, but if we see others preaching and saying that bitcoin is dead then that is the perfect opportunity to buy, hehehe. Just like in the past, 2018 bearish cycle, we've heard perma bears coming to live and try to destroy bitcoin, and i would say that they are successful because many have sold that time and pull the price. But moving forward to 2021, we have a new all time high. So this cycle will repeat all over again. Invest right now in this bear market and hold and wait for 2024-2025.

It is the same old recipe - buy when there is blood on the streets. Right now people are under pressure with debt burden rising rapidly and lay-offs causing drops in income --> people are forced to sell assets. Many times they will do it at a considerable loss even if it is painful.
65  Economy / Trading Discussion / Re: Indian crypto trading volumes slump following hefty taxes on: July 06, 2022, 07:05:21 PM
1% on every transaction is like banning all day-traders. This is definitely not freedom.
IMO governments should give economic agents as much freedom as possible. Taxing the transactions and then the income on top of that is non-sense. Not even talking about the business (exchanges) that get ruined.
66  Economy / Trading Discussion / Re: Is trading really worth it? on: July 06, 2022, 05:45:37 PM
Trading is a very unconventional profession indeed, especially retail trading.

I'll say this: it requires a lot of hard-work and dedication and at the end you still won't know for sure you are made for this. One could waste years from his life trying different strategies, markets, timeframes, etc. and still not become a successful (constantly profitable) trader. But with talent and a lot of determination you can become proficient at it and basically print money out of the markets. That is the dream of many, but to get there, oh boy... buckle up for some extreme up and downs. Few survive...
67  Bitcoin / Bitcoin Discussion / Re: Now is the time to just wait for the price of Bitcoin to come down. on: July 06, 2022, 04:47:47 PM
Nobody knows when the market will reverse so instead of the right time it will be better to take advantage while you can.

Yes, but first people should make contingency plans for the worse scenarios. You don't want to end up in the street because you DCA'ed in a bear market although you might have some beautiful gains in the future. I would even make an analogy with the martingale strategy from gambling. By DCA'ing you basically lower the breakeven price of your investments. In martingale you double the bet to recoup the already realized loss while in DCA'ing you don't really double it (but maybe you do). My point is that you need to be careful not to go bankrupt during times of accumulation.
68  Economy / Service Discussion / Re: Bank of America reported a 50% decline of active cryptocurrency users. on: July 06, 2022, 04:00:51 PM
There is not enough info for this stat. Is it referring to crypto users from the Bank of America customer base? - If yes, how is one active crypto user defined as?

It is normal the buying volume to be lower in bear markets. Didn't think it is quite so much (50%), but again I need more info of how this statistic has been created.
69  Bitcoin / Bitcoin Discussion / Re: Are we gradually approaching towards the end of Bitcoin? on: July 06, 2022, 11:10:33 AM
You make me laugh. So the liquidation of companies with bad management of capital is an indicator for the end of Bitcoin? Read that again and tell me it is not absurd.
Basing your investment decisions on the price of an asset is a recipe for disaster. Learn to differentiate between price and value. Price will intrinsically swing due to market forces, but value will remain constant.

How do you think Buffett made his fortune? Buying cheap - what does cheap mean? --> The price is low in comparison with the value of a company.
70  Economy / Trading Discussion / Re: advice for who are witnessing this market for the first time. on: July 06, 2022, 05:08:16 AM
First of all hold your horses, step back, zoom out.
Then you might want to make a thorough analysis of your existing portfolio and personal finances. What are the funds you can allocate to investments? What are your goals from investing - maximising long-term account value or getting a steady passive income? What is your risk profile aka what is the maximum drawdown of your portfolio you digest on a monthly-yearly basis?

Only then you can make an educated decision on how much you are willing to invest in Bitcoin and at what price levels you will enter. If you have studied technical analysis you can come up with certain support/resistance levels where the price is more likely to hold. This way you can also minimize the swings of your portfolio - for example you can decide to sell your Bitcoin holdings if a certain level gets broken, but to apply that you need to be quite proficient at trading.
71  Bitcoin / Bitcoin Discussion / Re: Was the coupling of Bitcoin to fiat a mistake? on: July 05, 2022, 08:13:10 PM
Well, it needs to be purchased with something. Think how hard would have been for Bitcoin to get adopted if people were not able to purchase it using fiat. In that case Bitcoin could have only propagated through the old barter. If Bitcoin would have been banned from the beginning I'm sure its growth would have been much slower.

I mean just think about the amount of free publicity Bitcoin got because of the valuations it reached. If Bitcoin would have been banned right from its nascent phase it would have been mainly used in underground activities. I mean I don't know many average joes that would get involved in forbidden transactions. Maybe 1 in 10. It's simple math.
72  Bitcoin / Bitcoin Discussion / Re: Hacker claims to have stolen 1 B records of Chinese citizens, demands 10 BTC on: July 05, 2022, 06:35:20 PM
If he is smart about it he can get away with the ransom. He could use sophisticated Bitcoin mixing methods and/or sell his Bitcoin anonymously underground. I'm not sure how efficient are the mixing services. Governments can have access to powerful blockchain analysis tools.

I am deeply concerned about the ability of our governments and publc institutions to keep our data safe, not even talking about individual companies. I think there should be certain policies implemented to enforce companies to respect certain safety standards and constantly invest in upgrading their cybersecurity.
73  Economy / Economics / Re: Can Bitcoin Reduce the Global Wealth and Income Inequalities in 2022? on: July 05, 2022, 04:41:12 PM
Wealth and income seems to follow the Pareto distribution. Logically the rich will get richer as they are the first to have access to investment opportunities, new more productive technologies, etc. while the poor ones fight for their families survival. So one part is working mainly for basic necessities while the other is investing time and money to produce more of it.

In order to solve this problem, I think the very wealthy should invest a good part of their income for the betterment of the societies, not just for their self-interest. In other words to look at other kinds of return on investment not just at money. For example education has the highest ROI but it only makes its returns visibile in about a decade or so.

Furthermore, money needs to circulate, not to stay blocked in a bank account. Value needs to be unlocked in order for our society to advance. But unfortunately we also need competent, ethical leaders which the majority of the countries lack. Most of the politicians are greedy and lack the moral values required to make a society prosper.
74  Bitcoin / Bitcoin Discussion / Re: Finally, I Bought Something With Full Payment In Bitcoin. on: July 05, 2022, 03:54:28 PM
Interesting story!

It never happened to me to not be able to make a transaction from my bank account though. Maybe your account is at a lower quality bank. Remember that services provided by banks are pretty similar as a concept, but they do differentiate through customer support, applications, etc.

I'm glad to see Bitcoin was the hero in your story. Smiley And may that bike produce you more Bitcoin than you spent on it. Drive safe!
75  Bitcoin / Bitcoin Discussion / Re: Bitcoin is the forerunner of the paperless economy. on: July 05, 2022, 06:46:55 AM
Bitcoin has played an important role in making the system more popular in paperless economic transactions. In paperless economic transactions, any amount of currency can be exchanged quickly without any hassle. There is no interference from anyone and no one can know any information about this transaction. So in this transaction system many people feel comfortable to do the transaction.

It depends on what states are you referring to. If you go in third-world countries there are a lot of unbanked people especially older generatioon who are not educated enough to use a debit/credit card. It will be very hard to bank or digitalize such a big mass of people, so I think we still have to wait around 10-20 years before we can expect a true paperless economy.
76  Economy / Economics / Re: When I started driving. on: July 05, 2022, 03:06:37 AM
Well, first of all happy birthday! Head confidently towards 100 and make the most of your time on Earth. We all should do the same.
Inflation is certainly not low especially for consumer goods. I'm not sure if the "super-elite" will benefit at the end from all this. Usually social situations will arise like protests and even civil wars. Wealth can get down pretty easily when you have a lot of wealth. Depends now on how well they geographically distribute their belongings and also their asset allocation but generally harsh economic crisis leads to revolts.
77  Bitcoin / Bitcoin Discussion / Re: "I'll wait for the dip!" - The Crypto Noob Cycle on: July 04, 2022, 08:40:26 PM
The market is composed of people ('agents') with different interests expressing their intentions in the market through buy and sell orders. Of course there are algorithms and trading bots, but after all they only do what they have been programmed to do by humans. Emotions still play an important rule. Bots and algorithms can be decoupled if the monitors consider so.

So what you're seeing in the market cycles is a wide spectrum of human emotions --> fear, greed and everything in-between
Successful investors need to learn to bypass their emotions and respect their strategy/reasoning.
78  Economy / Trading Discussion / Re: my trading is a fail help me, thanks on: July 04, 2022, 07:26:39 PM
I'm talking from the perspective of one who has pretty extensive experience in trading, but I decided to stop it at least temporary as it does not fulfill me.
Here are the mistakes I see right away from your post:

1) If you succeed just out of luck - you don't actually have a strategy.
2) If your strategy is giving you anxiety it means you haven't backtested it thoroughly - you don't really know what to do and when.

My advice: get back to the drawing table, establish a simple strategy start backtesting it and then tweak it along the way.

You should look for a trading group that see trading as it is. Having a working strategy (an edge) that you can derive an expected value from. Smiley
79  Bitcoin / Bitcoin Discussion / Re: Bitcoin is -not- "still in its infancy" on: July 04, 2022, 05:01:24 PM
I think the adoption of Bitcoin should be viewed from two perspectives:

--> 1) Bitcoin - an instrument for storing value -- measures: institutional investments in BTC (pension funds, hedge & mutual funds, etc.), ETFs accepted and traded on the market, trading volume, number of states that declared BTC a legal tender, survey on people (do they hold BTC, for short-term or long-term, etc.)
--> 2) Bitcoin - a currency used for day-to-day transactions -- measures: number of daily transactions both on the main chain and the lightning network, surveys on people (have they used BTC in the past day, week, month, year)
80  Bitcoin / Bitcoin Discussion / Re: Bitcoin Is not an inflation hedge in first place on: July 04, 2022, 02:38:39 PM
Exactly, most people don't realise it but Bitcoin is doing an amazing job at doing what it was designed to do which is exactly what the OP said. You can send & transfer infinite amounts of money around the world with an insignificant fee. Moreover you can carry that money on an USB drive, laptop or other similar devices while you travel around the world with nobody controlling you at customs.

Moreover it is I'd say it is the most secure decentralized network in the financial world. I'm expecting a good increase in adoption of the lightning network as well. Indeed the poor countries with highly inflationary currencies seem to be the first adopting Bitcoin as a day-to-day transactional currency and not necessarily as an instrument for storing wealth/investing.
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