It is better to win small and lose less than lose more and win less
Talking about risks, "win small, lose small" may suit some, but "lose more" should ideally bring "win more." High risks can be scary if you lose, but if you win, the gains can be substantial. I don't discourage anyone from investing their money wherever they want, as long as they can accept the consequences and take responsibility for their assets. I believe that's fair enough. Their decisions should be well thought out. From what you've written, it seems you prefer lower risks. However, if we compare Bitcoin, your choice, with stocks or gold, Bitcoin actually carries more risk. Aren't you attracted to other investments that promise smaller wins but have a higher win rate? Knowing that you only choose Bitcoin, I don't really have any objections. It's good because I also have BTC. I mean "earn more" could also be just a dream and not reality. People do get into high risk stuff that doesn't really have high earn returns neither, I think it's quite clear that they are doing something just because they think it will do fine but the reality is that they are not going to earn more. Like people who invested into pepe, do you really think that they took a high risk because they could earn more? They thought they would, but it was obvious from the start that they were taking useless risk and that's the issue. I believe that we are not going to end up with any downside from there, I think it's clear that we are going to end up seeing people take useless risk that doesn't have all that great return in the end. |
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So far we have come to know about many scams and many scams have been discussed in this forum. The biggest fraud I have seen and known is the SBF fraud. The fraud committed by FTX is considered to be one of the biggest frauds ever. Investors have lost huge amounts of money due to this scam and many investors have lost confidence in crypto platforms and exchanges.
Yes. FTX is one of the biggest but not the biggest of all I believe when considering mt.gox and in terms of BTC. With that said, many people are used to it. They can lose their confidence but that is only for a while and later on they will come back again. Mixer campaigns have cheated but those cheats are nothing compared to the FTX cheat because the FTX cheat is one of the biggest cheats I have ever seen. SBF was heavily penalized for this massive fraud even though investors did not get their money back due to his conviction.
Are you referring in the mixer signature campaign in the forum? Maybe some are cheaters, in a way that they don't pay the manager and their participants. If you are only referring on the mixer itself/alone, again maybe some can cheat because they don't return their customer's coin. For the legit ones, I think you can't call them a cheater because their primary purpose is only to enhance the user's privacy. And I think not all who does that are cheaters. Maybe millions, billions, and so on... dollars can be involved sometimes. So, it is actually possible that they can be bigger than the amount involved in the FTX scandal but the case of FTX is different. They are more harsh since a lot of people have been affected. |
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Experience will somehow teach us and mistakes could be a reason to improve, and this is actually what happens to your friend (and to everyone).
Your friend's experience tells us a very important thing that we need to keep in mind, never quit and never think negatively despite losses. It also teaches us why we should have to be patient and why we should not stop learning. All of these things are the reason why improve and the reason for our success. It is be saying that there is no sweet/easy success in trading, it only comes if we make an effort and carry a positive mindset.
Not just " somehow " but many people have improved because they learned from their experiences. Even without a mistake, we shouldn't be contented easily. And like they say, we should always keep on improving. It's not that we are greedy but I think it's because some things don't stay. Like for example the company that we are working now, it can collapse and we can lose our position and it may take time to find a replacement again. But if we already have a back-up, like for example a talent on other field, we can always get a job easily. It's normal to think negatively, especially after a heavy loss but as long as we don't over-think about it, we are going to be fine or we can recover immediately. |
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Not using a Demo trading account is considered a form of arrogance, and thus a trader will end up thinking that he understands everything about the market and suddenly loses everything. Therefore, as long as you want to trade, learn from everyone, listen to everyone, and try your plan in Demo accounts, and then you will get a better vision than investing without thinking.
There are uncertainties in cryoto trading, because of the risk of loses, therefore it is not a bad idea to have a demo account to try new experiments. Especially for newbies in trading, they need to start with demo accounts, to familiarize themselves with the outcome of readings, how easy it is to lose everything in a very short time. Although the disadvantage of demo account will be that the traders using it might not put in the seriousness required for actual trading, because even if they lose, it won't be real coins. So if a trader has to use a demo account, let him put all the mental work that real trading requires. It is true that you could have experiments there, I do end up using my real account for real trading and investment, but when I learn about a new way to trade, I use my demo account to test the new idea and see how it goes, and depending on the results I keep trading at demo account for months sometimes, because ı want to see it working in multiple situations. There are some that I stop very quickly, when it's obvious that it's not working, I still continue on demo to try some of them to see maybe it was wrong for the start and I did something wrong and then it will get better, but most of the methods I try that start horrible for 1 week, will stay horrible later on. But if I find something that ends up profiting for a long time, I keep trading that way on demo for months, to make sure it's good, before ı start using it at my real trading. This method rarely gets bad results, it is a great way to get rid of terrible trading methods and find some very good ones. |
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It is difficult to predict Bitcoin in this short time frame, but there is nothing preventing us from reaching above $42,000 in the next few days. We may end this year with a rise above $48,000 before a correction occurs that takes us back to $42,000, with a small possibility that we will touch $32,000 the levels, so during this year we have a long range between $32,000 (50-Day SMA) up to $48,000.
I actually think that short term is easier to predict technically and for long term predications we do not have any other help except fundamental analysis. For now the only bad news I see is the Binance being sued by the SEC. I think that was still a threat to the price of BTC as Binance is a huge crypto exchange and BTC is the main crypto. Not only BTC actually but other coins can also be affected with it. Let us only hope for the best though. It is still best to see a good year end. It can also give us a good luck seeing a new year with a positivity even only in the price of the coins and not really to the happenings around. |
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So I heard about what happened a while back with terra luna going down and also the stablecoin. At the moment, what is the current price for the original terra luna and the stablecoin related to it? I remember at one point it was close to 100 dollars usd for the original coin but how much is it now?
I think the price is $0.803 now Tera Luna was a very big shock to it's investors. When this Luna fall dip 2022 I was not even much into crypto system, but the shock was everywhere on Twitter and crypto websites. What happened to Tera Luna is a warning sign to people to always diversify there portfolio in other no to incure much loss. What you said there about the lesson might be true but I also think that some coins like BTC are safe to entrust with our money alone. Other than that, if we always monitor our investments and always be updated on the coin that we HODL and the happenings around, I think we can take-off at a right time, before the worse things happens. It's only sad to know that some projects here have a bad intention. They are only good at the start, so that they can get the trust of their investors. We need to take time to investigate before we invest, so that we can avoid bad projects like this. Now that we are now close to a supposed bull run, a lot of projects like that are going to spawn. So, stay safer. |
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Currently Altcoins are start growing and crypto market condition is pretty good as every where is green. And many of us expected that, bull will come soon and so people already start analysis for which altcoins should buy and could be best investment for bull run. But as we know, market goes a little down when it comes to BTC Halving, which will be happened probably on 24th april, 2024.
So are you going to pick your altcoins Now?? Or During/After BTC Halving while you can buy altcoins with low price?
It's not that we expected that the market will be green but many of us are only optimistic at all times. It is because this is where we bet our money at. And maybe most of it too. Our optimistic level have gotten even higher if we see a market condition like this. Add in other factors like we are now on the last month of the year, we are now close to halving, and so on... . The only funny thing is, that most of the times our expectations can go against us. This is why I never expect too much, as it may cause me some psychological problems. Halving time as you said is going to occur in April next year. It was almost 5 months away which can be a short wait for some so they can choose to wait. But if not, I would disregard these increases only to buy a coin. |
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The expression about buying those goods that we need, and not those that we want, is not entirely clear. It sounds like the same thing to me. I love Black Friday because it allows me to get the items I need at a great price.
I'm not strict about tomorrow. We can afford the purchases we can make without leaving ourselves with empty pockets. So I don't think strictly limiting your needs should limit your investment in Bitcoin. If I want something, I'll buy it. When tomorrow comes, he will tell me how to live in it.
I feel like what you "need" is something that would allow you to keep living at the same standard, and something that you have to have in order to keep living. Let me make it clear, you need food, but you do not need luxury food, so what this means, if you eat ramen today to survive because you need to eat everyday, then yeah that's a need, but if you purchase a t-bone steak then that's luxury and you should not do it if you want to save money. That type of thing matters and should be important case. I understand it may not feel like the difference is clear, but when you check the prices you get it. Or like getting a new macbook, if it's for your business and you will make more from it then that's a need, but if it is just for fun then you absolutely do not need to get it. |
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I always feel growth mindset has so much to do with the ability of a determined person to yield them selves to consistent learning. Sometimes one can be determined and hard working but have the wrong approach or outdated approach to solving real world problems or businesses. This brought me to this assumption that learning new ways and approach makes a better growth mindset than most other factors
Yes, you are right because at least learning new ways and approaches can give them a new understanding of something. And that mindset can be even better if they can get something that can make them have positive thoughts and not just drown in negative thoughts. Many people still can't get rid of negative thoughts so they have difficulty changing their mindset. The key to improving this mindset is learning and accepting something they may not know very well and being willing to find out more. If they feel that something is good for them, they will look for more of it and probably use it too. But if not, they will leave it and look for something else. I feel like we should avoid looking at it from just a black and white type of deal, we are talking about something much larger here and that means this has to be something that needs to get a proper variety of things that needs ot be considered. You do not have just growth and fixed mindsets in people, it's a dynamic thing, or if you want to use bitcoin analogy, it's volatile. Sometimes you have growth, sometimes you have fixed. Like right now I have a lot of problems in my personal life and I have a fixed mindset at work, I just want to work as good as possible and be done and spend rest of my time in my personal problems. However, does that mean I have never tried to start my own business before? I even tried my own token. So, yeah it is a dynamic thing. |
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As an individual, it is okay to do either one of those as long as you are living the life with satisfaction.
Each individuals are different. There are some who are already contented and some are not. If you are among those who are contented, then your mindset is also fixed, while for the other, they have a growth mindset. What we as a society do not recognize is that everyone with the mindset to grow doesn't have the space to execute his ideas and settle with something that he got for various reasons such as the need to stabilize the financial status of the family.
Actually, many of us already knows that fact. That many people who have a growth mindset were fail to grow more. One of the reason would be is like you said, they lack in space. This is why it's important to take things slowly or one at a time only. Maybe we can call this a settlement but for temporary only because we are talkin about people who have a growth mindset. They don't settle down until they think they are superior already. |
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XRP is a old altcoin.
I have a question to all crypto and blockchain expert that xrp is a cryptocurreny or a token ?
I want to know the opinion about the future of xrp ?
You have said it is altcoin meaning this is a cryptocurrency and yes an old one. but even experts can only give their predictions but telling what is the future ? sorry but it is your risk that will give you better future in crypto world. but since the case is over against United States SEC , and there is a lot of hopes that it will recover in the near future when Bull run happens . A currency that has a blockchain and/or uses cryptography can be called a crypto and obviously XRP is one of it even though it is close to fiat as it was centralized and has a good relation to the banks. But there is even more close than the fiats and that is the CBDC. Most of us are no experts here but we still like to give our prediction to cryptos. And actually, I was going to say the same thing about XRP. I only like to clear the confusion of the OP that despite XRP is a crypto, it was still an altcoin and not a token because it doesn't have a smart contract and capable of creating another token under its own blockchain just like on what we see in ETH (for example). |
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if you have the inclination of believing such prediction, this is really good to invest or buy more before it reaches to that 45k level. that is, if you think you have the time to wait if in case it doesn't go thru with this specified time. because you might be subjecting your savings and you have your urgent financial needs before your target price becomes a reality.
AI prediction also is based from past history, other net sources of course, but we can't totally guarantee about the actual price or the date that it will actually happen. we are at the same time speculating on this matter.
Even if the AI didn't predict this or you don't see such prediction, we are still going to buy BTC and stack more of it because we already know its potential. Anyone can see it on the charts. You can choose to buy even the price passes above $45k or you can wait for it to drop again in exchange for some price discounts. It is still possible. Selling higher because we bought at highs still requires some great patience since the growth of BTC may now slow down once it already reached a good price point. Waiting is hard. You also said the other reason on why waiting/hodling is difficult, but it can be prevented if we are wise enough to not put most of our money in BTC. |
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I do not think that the solar flare would last as much as our dear Op has made it seem, but it is paramount to adhere to any tips that would ensure the safety of ones wallet and crypto asset nonetheless.
Am sure not only the decentralized network would be affected but as well as internet banking, transactions between P2p and withdrawals and the exchanged where the purchase of cryptos is made possible.
Thanks for the tip though, but I believe our technology has been equipped or is equipped to counter any resulting effects from that solar storm about to happen.
I am not even sure if it's true or it will only be like the others before, which acts like a FUD to scare anyone. And the ones who did that, has a hidden agenda. And even if let say it's true, I think there is no way to tell its duration, as we are not in control of it but we shouldn't worry if there will ever be solutions that will be made during it, because we can still continue doing our business as usual. It is said that the internet will only be affected, so it has nothing to do with the security of our wallet and crypto. Like I said earlier, it is rumored that there will be no internet during it. So, everything who rely on it including that internet banking you are talkin about will as well be affected obviously. |
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Notebooks can help us to record mistakes or events that occur, so that we can look at them afterwards to remind us, for example, of something we shouldn't do, and sometimes even though we have written it down and read it, we sometimes still make the same mistakes, and this is basic human nature. . However, if we can manage it, it will not only have an impact on our way of trading, but will also carry over into real life, we will be wiser in facing life.
Indeed that mistakes can still occur sometimes and I think it's fine as long as most of the times we are doing the right thing. That should be enough as a compensation. It is only wrong if we use the " it's a human thing " as an excuse and will not try hard anymore in order to improve our selves. Better if we quit the risky activity that we do like for example trading because it will only help us to become more poor or problematic later on, if not now. It is true that what we do on a certain thing, will also have impact on our general life, but if we already know our characteristics, it'll be easier for us to decide as well if we will venture this or that thing. |
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Whether you do like it or not, as long on the time that you had considered yourself on stepping your foot into this market then it would really be that inevitably for you not to realize or learn up on how this market behaves.
Market could neither go down or up, this is why it would really be always recommended that you should really know on when to exit and when to enter and this is where technical analysis would really be that relevant.
You wont really be able to survive if you wont really be that making yourself wise when it comes to decision making on which this is something that you could really be able to learn up along the way.
Proceed always with caution specially on to those times where hypes and fuds do happen in the market on which this is usually traders or investors do mess up their portfolio.
You should be wise, you should be that patient, you should be attentive and you should really be not that emotional. You would really be finding yourself at great trouble
if you cant really be able to control yourself.
I think it's quite clear that we are not going to end up with anything that would be risky, like it could go up or down or anything and you are doing something risky at any given moment and should be careful about it. I understand that it may not be all that crazy, but surely it's going to end up being a little bit troubled. I hope that we are going to end up with something that goes higher or lower, and for that to change we need to make sure that it is going to end up being a little bit more difficult. Just accept the fact that you are not going to end up being all that crazy, and for that to change you need to end up being a bit more problematic. Hopefully with some time we could see it change like crazy, but that's not going to be that easy. As long as we are talking about the crypto market, we are talking about something that is volatile and that means it is going to be always a bit hard to make it work, and should be something that will be risky. |
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It is true and right that trading is for everyone, but the question is: does everyone want trading as we know it here in cryptocurrency? Others like trading, but in their minds, the work of studying here is lacking. That's the problem with others entering the crypto space.
Almost everyone here knows very well that trading is not easy; even in forex, it is not an easy lesson, to be honest. It's not just hype like other traders do; I don't know if those are real traders who say it's easy to make money from trading. which is not the concept.
Unfortunately I have been one of those people for years and that's why I prefer long term holding. Don't get me wrong I am trying to do better and I am trying to make sure that it is going strong, but at the same time I am doing it the right way whenever I can with long term holding as well. I get that people are not at that level right now and we should not be looking into this as all that troublesome, but the situation is different right now and not that big. I think it is quite clear that we need to make sure that we can find something that will change it and it should be a bit different result, think about it, if you are not entirely certain about the situation then how could you end up investing or trading. So my personal situation is that I try to stay away from anything like that, and just avoid all the trouble, and just focus on how to make some money with long term, and only trade with tiny amounts to make sure I get better one day on how to trade. |
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Unfortunately, trading isn't something that everyone can achieve and it takes a long time to make money by trading. This is because financial markets are complex and it is almost impossible to make money in them without a fair amount of experience. Yes, unfortunately many people who define themselves as professionals cannot earn a profit by trading because trading requires not only experience but also the need for a person to plan risk management correctly and control his/her emotions.
On the other hand, the fact that many new individuals are included in the cryptocurrency markets and that these people are generally inexperienced in the financial markets or cryptocurrency markets causes the percentage of people who can make a profit by trading to decrease.
I think it could be about personality of a person as well, maybe I am wrong but I just have a feeling that some people just can't be traders, they just do not have that chip in their brain, they do not enjoy it, and they do enjoy a lot of money just like everyone in the world and they do want a lot of money but trading is not their way, so they do try to make money with trading even though they do not enjoy it, and that results with them not having any return at all, which is of course normal. I believe that could be the issue, it looks like we are talking about something that may not be all that crazy and maybe something simple, it's just not right for everyone. If that's the case, then it is normal some people just stop quickly. |
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It's not just happening even as November is almost gone, it has been confirmed by many analyses that the bear market has been over since October and I even made my post on this last month ( https://bitcointalk.org/index.php?topic=5471365.msg63042399#msg63042399). If I must say, Bitcoin is very easy to predict, especially for those who are using long-term analysis to gather their information about it and it was easy to know majorly through the price action that the end of the bearish reign for this season has come. Although the coin had started the bullish journey in November last year, it was so turbulent to decide what it would do as it had its fair share of both bearish and bullish moments this year. However, the ETF saga eventually helped it to gain a sustainable bullish price action on the monthly chart which is what has been helping it till now. And going forward till next year, Bitcoin will remain like this and will continue to find a bullish path with minimal bearish retracement as the long-term trend is already bullish and such a trend might last over a year if a strong unforeseen circumstance doesn't happen. As it is now, I expect it to hover between $39,000+ and $34,000+ until the next year when the post-halving effect would drive it strongly northwards. I have to say that is 100% right and I could go back even more and say that maybe even September was out of the bear market to be fair, looks like it could be something that is already growing back then as well. I understand October was the real deal, and yes it has gone up a lot during that period there is nothing wrong with that, but I think it's quite important to remember that we are talking about a bigger return here and that should be the case. I think it is going to be a bigger deal than we have ever anticipated and yet we need to make sure that it's going to end up with a return that is not going to be all that crazy. Just realize that we are talking about being so high compared to just a few months ago, and that will make people feel amazing about the situation. |
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If you have advised him to do what he feels most comfortable with then you don't need to say this. Furthermore, that amount is only worth $152, so the loss of fiat value won't affect him much. You shouldn't make him more stressed.
In my opinion, he should learn more about bitcoin to understand it better and then he will make his own decision, whether to continue holding bitcoin or exchange it for fiat currency. Bitcoin is really good when its holders understand it, but if they don't understand anything about it, it's best for them not to invest in bitcoin because investing in bitcoin, in addition to bringing profits, also has risks involved.
I think it's something that should be not really all that important in the end based on what people are doing, I get that it may not be something that changes all the time but that doesn't mean that we are not going to have it changed eventually. I think it's quite clear that people are doing things that doesn't really matter to anyone, and should be considering the situation a bit more. I think it should be important to realize that we are not going to end p with a profit if we keep fearing what it might do, we just need to keep on holding and trusting bitcoin, otherwise selling and getting out is not a profit making method, if you sold and got out, then you are out, but if you hold then at least you have a chance to make a profit. |
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Any one can be a millionaire gambling it's all about your skill and luck put together.
From the winning ticket of the gambler we can say this is not his first bet he has been gambling for long and had experienced several loses which we are not talking about we are usually focused on the winnings)successes of people in gambling not sharing the losses as we do with the losing's. My thought I want to express is that when you patiently gamble in a controllable responsible manner despite the losses you don't quit you still paly on responsibly there's a lucky day that will come for you that when you get that huge win you won't remember how much losses you have encountered.
If it's true that anyone can be a millionaire in gambling, I wonder why many of us are still poor gamblers?  . I think there is no way we can see how many tries the gambler have done in order to finally get the win by basing only his tickets because there might be instances that even the matches are too much or the odds are too high, the bettor are lucky to hit them in their first try only. Some are also lucky to hit them within a few tries (e.g 2, 5, 8, and, and so on...). Their number are only low though and maybe the OP is not among with them, so yeah, it is better to not hope for the same thing, and it's better to not focus only on the wins. It helps us to stay on our limits and lose less. |
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