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I'm not sure if this is a piece of good advice for everyone but the only thing I would say is that --invest only the projects that have a history of being profitable. There are a lot of them and it's up to us to decide which of them we would like to invest in and hold. And knowing them more can be done through research and market discovery. The word profitable is not just all about choosing good projects but also, it matters in our investment strategies.
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As for me, I didn't make it the hard way and what I did is that I simply wrote it in the notebook (2 copies) and kept it away from the eyes of the people (friends and family members) in a place where it never looks suspicious or any clue that was important. I made it not complicated because I believe it was enough to guard by seeds phrase, As long as it was kept offline, that was hard for other people to trace it unless if there was someone from our friend, relatives, or any of the family members know and steal it.
And aside from that never put all our crypto in a single wallet but rather help it spread to avoid losing it all in case hacking incidents come.
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Well, 1% is big enough especially for those who only have a small income but for rich people, that was just a penny amount for them. But no matter if it is small or big, at least we are certain of how much we are willing to gamble. At least we have measurements from when I stopped gambling because it is very important in gambling otherwise, we probably use all the money we have.
A responsible gambler knows about their limitations as we can't urge ourselves to gamble like there is no tomorrow. In fact, it is just having fun.
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It helps release stress but could also be a source of stress. Better to approach it with care and see how it affects our thoughts and emotions.
Also going little by little will be better than trying to win big and risking to lose it all.
Stick to the plan.
Another benefit is it can help you to improve decision making and practice discipline
I think most people who indulge in gambling in order to earn an income from it could in the long run, probably add to the stress levels of such individuals. While people who actively don’t play and seek an income whenever they gamble could have less stress due to the activity. A lot of gamblers do play with more money than they can comfortably afford. They tend to ignore that fact as they’re temporary blinded by the amount to be won in the end. Hence counting chickens before they’re hatched. True. It could probably help some people develop some more discipline in other aspects of their life. Indeed, stressful especially if we keep thinking about how to recover our losses and if we are in debt and still can't afford to pay them. A lot of people get into this situation and they won't realize it until they stop gambling and stop chasing their losses. But this gives a lesson to them and also it could help newcomers to understand the situation if they are gambling. And I believe that new gamblers have become aware of what they are trying to do and the consequences they will get. |
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Well, everything seems to be surprising for us as nobody has even been there and see the future of Bitcoin. In fact, even in our life, we're still not sure about, how much more in Bitcoin that can't be predicted.
However, we are all optimistic about it and we believe that more adoption will happen in the future. As long as people still trust Bitcoin and still there is an internet, we can never see it will end as this is the only way it puts an end to, not the government.
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I have always advised people not to take gambling seriously but I myself became heavily addicted to live blackjack from stake.com and kept winning and losing. In this case I will not blame the gambling site because they give live cards. I started the game with just $20 but gradually I got addicted to it and wanted to gamble and win bigger amounts by depositing bigger amounts. I lost $1700 playing this way then I decided to play with a much bigger amount and recover all the losses then quit gambling for this I borrowed 270000 BDT ($2180) from the bank and deposited there. But unfortunately I lost them. Now I am financially so weak that it has become very difficult to meet my family expenses and I owe the bank $2180 which will take me a long time to pay off. Now it will take about 2 years for my financial situation to be normal again. Gambling addiction set back my normal life by 2 years. I am a victim of real experience and I am sharing my real experience with you. Don't make the same mistake I did. And never decide to gamble with a loan. If you do, your situation may be similar to mine. so beware of gambling
I'm glad to hear such a story OP and making all your experience a way to become a responsible gambler who doesn't just think about winning and being greedy but also it gives a reason why we should not fall into addiction because the results are really unacceptable. This is a lesson for newcomers and hope they realize that gambling is not a way to become financially stable or rich, it is indeed just for entertainment. Some make money and I admit that but many also lose a lot and even commit debts due to unmanaged gambling behavior which in the end, compromises their finances badly. |
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I have been into trading for many years but I have never used stop-loss myself because I believe that stop-losses won't help a trader to improve his/her trading abilities. The stop-losses are something that will protect a trader from losing a lot of money in a trade but if a trader doesn't conquer the fear then that's the worst thing I guess.
Some will find it useful while some are not, just like you. But it isn't doesn't matter especially if there is no issue/problem with/without using this strategy because what is important is that we make money and earn a profit in trading in many ways. In fact, not often use this one and I'd never find it necessary if we are active traders. Besides, this strategy never helps us to earn a profit but just helps us not to lose too much and still save some. If we can play the market well and have long trading experience, I believe it is not needed anymore. This just good for newbies, IMO. |
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Yes, maybe it's like that because quite a lot of children become gamblers because their parents invite them to gamble, for example at family events, or these children see how their parents gamble on the computer or other media. So more or less the older generation can cause gambling habits in the younger generation.
And if you want to stop this gambling habit in your family, you can just not gamble in front of them and not discuss various things related to gambling. But this is not completely successful, because the younger generation in your family could gamble due to the influence of their playing environment.
And that is happening by many gamblers because parents serve as a mirror to their children and what they saw to their parents, they also gain interest in knowing it as well. Once there is a gambler in the family, we can also expect that some of the new generation will follow. But there is nothing wrong with that if there is any, as long as it is guided properly, they will never fall into addiction. And as long as the family members have no problem getting involved in gambling, then it was okay and I know many of us gamblers have the same history. |
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This is my take and my opinion on this matter...
As newbies, I suggest not engaging yet in trading but rather choosing to invest. Why? With the level of their market knowledge and familiarity, they are not ready enough to take such a risk and they don't need to force themselves for they will just end up losing their money and regrets. And that bad experience will affect their mindset and then start to doubt the market which then creates uncertainties and negativity.
Why choose to invest and hold -- because this is ideal for them. They can still learn to trade but before that, they also need to learn first how to be patient as this is very important in trading as well. Generally, it is all about preparing themselves for a higher risk and responsibility.
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Too sad that corruption and greed have really poisoned the minds of elected officials and don't let Bitcoin become a reason for not fulfilling their wants. Which is why they implement rules and regulations against Bitcoin. They will say it is for the benefit of the community and to stop scamming but I don't that is how we stop such incidents.
They are smart enough to encounter the adoption of Bitcoin but fortunately, people are still making their way to do it. The more they impose strict rules, the more it grows --perhaps, they are winning unless they totally ban crypto in their country.
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I wanted to withdraw Litecoin from one exchange and the only network available is bep20...
theres no other options...is this the right network to use? I think in the past the network was called litecoin network?
btw is LTC still the best option to use for withdrawals?
The other option is to covert it into available networks that are also supported by other exchanges where you are going to move. Using LTC can be considered as a good option but you can still find other coins like Tron and XRP for cheaper price and almost instant transfer. But still, you need to look at the exchange first if it is available to make sure that you are deposit will arrive. But since Bep20 is only available, then you must convert it first to Bep20 tokens/coins. Well, I could say that you are using a small exchange, and a good idea to move your funds to an exchange that supports a number of networks. Well, I hope you've got the idea already. |
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Gambling doesn't force everyone to gamble but it is our decision and desires. If you think that gambling is only for rich people and lucky people, then see your friends who are gambling if they are rich and are too lucky just to prove that your claim is right. Because I will tell you mate that gambling is not only it mentions for rich people and those who are willing to lose but is for those who can afford to gamble.
But if you care much about your money and only thinking about money, then better not to think about gambling as this is not suit you OP.
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Those who have large amount of money will bet again and again until they win huge sum of money at once whereas poor people have little amount of money so when they bet for one or two times then they loss all the amount and now there is no chance with them to use their money into gambling in order to win next bet. Wealthy people do not take loan for the purpose of gambling so when they win their bet then they can use all that amount for further use in gambling but poor people always prefer to take loan and when they win then they have to return that amount to owner therefore poor people have the ability to use more money to win more while chances with poor man are lower as they don't have enough amount of money.
Well, it means that rich people have a chance of winning big because they are spending more as well. And without a doubt, they also lose more money compared to poor people. We know that rich people can gamble more without worrying about anything if they will lose. It means that when they gamble they don't think about winning but just enjoying themselves. And I notice that those gamblers who want to win often lose, while those who don't after winning become too lucky. |
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I also believe that the bear market is over. We bottomed at $16,500 and since then, albeit with ups and downs, the price has been rising to where we are now. At the point in the cycle that we are at, with the halving in half a year or so, I think it is quite unlikely that we will go down to $20,000 or so, which would make us think about the bear market again.
Another reason I became confident that the bear market is over is because of the Binance and CZ drama that just happened. Well, assuming CZ's resignation happened during the bear market, the BNB and Bitcoin price would have dropped significantly upto 20%. But as the news broke out, it didn't even affect the market upto 24hrs and everything became alright again. That is a very good indication that the bear market is over. You're right, sometimes not every kind of breaking news affect the market price, some would have thought about many things regarding this, but yet nothing changed than things were going as normal as being expected, i don't think the value of BNB would also be affected by any means, because what i first thought when I heard about the news was that the exchange will be affected with government regulations and this can cause any form of stoppage in any of their operations or services, but i discovered i was wrong also, this remaining days for 2023 is more for bullish. BNB doesn't get a huge impact but the exchange itself, however, the confidence of the holders will then weaken unlike on the days when there is no issue with them. But this won't matter a lot in the entire market which is why the news never gives any changes to the trend of other projects/coins like Bitcoin and ETH. By now, we are moving forward, the market still looking good despite the news and it was good to see that people had learned already. The market looks bullish by now but not totally bullish at least it shows some indications which could make us more optimistic about it. |
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Do you accept to be a weak trader or a wise trader when you exit a trade taking some profit, but not the entirety of what you want on your TP?
I will rather call it contentment and been wise about leaving the investment at an early making profit stage. When you’re not contented, you become greedy and when that comes into play, you’ll be at a bigger risk to lose your profit including the initial capital that was put into trading in the first place. Take profit should be something you’re willing to adjust to when it doesn’t work for you or take advantage of it early when it begins to work for you. Perhaps, it was not a wrong decision but instead, wise thinking knowing that we never know if the price keep rallying or it drop at least we already earn some. Besides, we can't make 100% perfect trade which means that some of our speculations are wrong and sometimes are right but the most important is that we never lose any amount. Greediness is the cause of why many traders miss the chance of selling at a good/high price as they think that there is more. That is why we should also have to know how to analyze the market, not just by wild guesses. |
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Some people will say they could earn money from gambling and others will also say that they lose --and all of these are possibly based on their experience. Because as I was into gambling, sports betting, and lottery tickets, I could say that there is a different experience between the two where you have a bigger chance to win in sports betting than lotteries. Now, if you were just playing sports betting you can simply say that you earn more but those gamblers played in pure luck base games, the majority will say that they lose more as well.
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When the price of Bitcoin reached $38K I thought I would sell my investment but I didn't sell my investment yet hoping for something better. Thinking whether to sell the investment or not I thought I should share the matter in the forum and I will get the best solution from the forum that's why I am sharing the matter in the forum whether I should hold on to my investment or sell it now.
I don't need the money anyway, if I sell my investment now I have to deposit this money in the bank again.
If you don't need money anymore, you better share your investment with any of your family members or relatives as they are somewhat needed for that and let them manage and grow it. You don't need to stress your life in investing in Bitcoin but rather enjoy it while you still have time. They will appreciate that much and think about the good deeds that you did. And whether you sell them or hold them, it is you who can answer that and I believe that you already have some idea how the market works. But the best solution is to let other people manage it so you don't need to think and bother yourself about it. |
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I noticed majority of the people in my area tend to spend more money then usual when they get their salary, like buying things they don't really need.
I said majority of people because my dad owns a grocery store, I have noticed that most of the customers tend to buy more stuff on the 1st and 10th day of the month because on these days they get paid in my country.
I already seeing this pattern on news or business related youtube videos, but I didn't think it was a big deal.
Now I realized that its very important to consider this behavior of people when making business decisions because it can have a big impact on the sales or finances.
I am surprised by it because in my family we usually buy only things we really need, I am starting to understand how other people's spending habits can affect the business.
It is an indication that the people in your country have a good salary making them spend more as they are also earning more. It means that the economic status of your country is doing pretty well making the majority could buy what they want. It might they are spending it well or not but it was their choice to reward themselves in that way. Yes, can't deny that some young adults are not very particular about saving because what is their mind is to enjoy while still young and alive. They just only realize the importance of savings when they are old and incapable enough to work. |
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It would be a trigger too because of the fun that the person is having. This is like when you are lonely and let's say broken you'll have a higher chance to drink alcoholic beverages to forget them as well as gamble as it was fun and eventually you won't notice that you'll get addicted to it. For sure that person wants to forget his problem which is why he gambles to have fun, that is why he plays daily so that he can't think of his problem and that would cost him a lot for sure his health and money.
Some people consider this a solution to their loneliness and sadness and want to forget everything happens in the past. Just like before when I have a problem I just drink and get drunk, it can relax my mind honestly but when it is over, the problem still appears in my mind. So I drank again and again. And this would probably happen if our trip is to gamble and we keep on gambling for the sake of not remembering our problem but sadly, we even bring it worse. And this kind of action is not the mindset of a real gambler as we just fool ourselves into believing something that won't help to solve our problem. |
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I couldn't agree with holding Bitcoin forever but yes, that will totally depend on the holder's view about crypto. They have been held till now for some reason and probably they are certain of their plan. As the years pass by, most of us have learned already that investing in Bitcoin never gives us profit right away and so they are holding even though the surge has come already as they want more.
And the fact that we can't force them to sell, we have nothing to do about it. Anyways, their action will result in something whether it is good or bad but most of the time holders get more money than losing.
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