Bitcoin Forum
June 21, 2024, 10:52:13 AM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
  Home Help Search Login Register More  
  Show Posts
Pages: « 1 2 3 4 [5] 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 ... 205 »
81  Bitcoin / Bitcoin Discussion / Re: Peter Schiff account frozen on: July 04, 2022, 12:50:45 PM
It's ok. Some people will realise that Bitcoin has been invented to offer freedom sooner or later.
I'm not stating that regulations are not good because they are. They are needed to protect all the layers of our society.

He should have respected the rules. Net capital rules are there for a reason. If you're going to use a third-party service, you better read the terms & conditions. This appiies to anything. When you create a Bitcoin wallet and start to fund and perform transactions you need to do a minimum of research beforehand.

Also this tweet sounds like he wants to place the blame on the bank instead of himself for not meeting the requirements set by the bank.
82  Bitcoin / Bitcoin Discussion / Re: Bitcoin Will Be a Failure Even If It Hits $100,000, Says "Black Swan" Author !! on: July 03, 2022, 07:39:06 PM
It does not matter who said what. Ray Dalio, one of the biggest macro investors confirmed that he personally owns Bitcoin. Bitcoin was not designed to be a hedge against inflation! We keep making this assumption. It could become a hedge against inflation, but for that to happen it probably needs to receive higher adoption. It is legal tender only in a few states for now. People need to fortify their confidence in this asset until it becomes a instrument that protects you against inflation in the short term. Until then the inflation protection is only long-term (as shown by historical returns) and early adopters will reap the rewards like always.

It is just an opinion of an author who also was a trader back in the days. Do not confuse writing skills and/or trading experience with knowledge about history, technology and economy.
83  Economy / Services / Re: Looking for Trading job on: July 03, 2022, 05:19:13 PM
I can explode your trading portfolio with highest profits.

This is not something I would like to hear out of a professional trader's mouth. Too much confidence in yourself can be catastrophic in trading.
Moreover if you really are such a good trader you should post a track record of your performance. There are several tools out there that you can use like myfxbook.
84  Bitcoin / Bitcoin Discussion / Re: Strong Hands Are Buying on: July 03, 2022, 03:13:25 PM
And these are just the public purchases. A lot of parties with really deep pockets must be hoarding a lot at these prices, but they are not public about it. Why would they if they wanna accumulate it cheap?

When you see the bullish press releases, it usually indicates that big money is done stacking and wants to pump the market now Cheesy
However their plans don't always work. The market is an extremely complicated environment with so many actors with different interests that it makes it really impossible to guess others' actions.
85  Bitcoin / Bitcoin Discussion / Re: Mexican senator proposes bill to make Bitcoin legal tender on: July 03, 2022, 01:11:36 PM
Wow, didn't know that. 56% of the Mexican population does NOT have access to the banking system? That's crazy and it just shows how much more work needs to be done. We don't realise it, we take our financial system for granted but it is really something magical to be able to pay at the store with your phone and/or making online purchases with a couple of clicks, not even talking about the credit system which could empower entire communities.

However the advantage of people who are not 'banked' yet is that they won't have to adapt from one system to another. Instead they could go straight to doing payments in crypto and/or dealing with BTC directly.

I'm still shocked that more than half the population is unbanked. I heard that Mexico is split into two zones. A richer one (the North one if I remember good) and the south, poorer one.

86  Other / Politics & Society / Re: What the f..ck is wrong with the world,EU and crypto ? on: July 02, 2022, 07:32:17 PM
Bitcoin is still as crypto as it gets. The regulations you see are mostly around centralized exchanges. Believe me, you don't want to hold crypto on them and one day you wake up with an empty wallet and a bankrupt exchange platform.

I think many of EU's policies like the GDPR benefit the customer and not the company. People need data privacy and investments need to be protected and incentivized. Otherwise we would all just consume until nothing's left.
87  Bitcoin / Bitcoin Discussion / Re: Will you be in favor of Gold or Bitcoin !! on: July 02, 2022, 04:04:35 PM
Both bitcoin and gold are good for investment and both are volatile too, I would consider buying both of them rather than only one  Grin but bitcoin is crazy stuff that really make addicted rather than traditional gold.

If it makes you addictive you should take a step back and reassess your investment strategy. Emotions do not have a place in the investing game. Be objective when analysing investment opportunities and when designing your strategy.
88  Bitcoin / Bitcoin Discussion / Re: Ukraine - Russia war crisis. Will Bitcoin be legalized soon? on: July 02, 2022, 02:38:00 PM
As far as I know they have already announced that their partners can pay their bills to Russia using Bitcoin if they want to.
Also Bitcoin is not banned in Russia, though it hasn't been declared a legal tender. Taking into account the circumstances it is likely that they will adopt Bitcoin. It is a 'universal' currency that they can use without raising the power of other countries' currencies.
89  Economy / Gambling discussion / Re: Inherited gambling on: July 02, 2022, 01:01:56 PM
Gambling is certainly not hereditary, but the sensitiveness to certain emotions and traits related to gambling addiction can be true.
For example those who gamble could be more inclined towards experiencing positive emotions (extraverted) - they like being in a casino surrounded by other people and taking risks. People who are lower in neuroticism (sensitivity to negative emotions) will also be more likely to indulge into gambling even after losing a lot as they crave that adrenaline and excitement.

To reply to your questions:

1) Yes, I would blame the individual if he/she becomes addicted. We always have a choice - it has been given to us by nature.
2) You will be amazed of what things can be achieved with dilligent effort and consistence.
3) You are not born with gambling addiction. You pick it up by habit.
90  Bitcoin / Bitcoin Discussion / Re: Man lost everything to Crypto on: July 02, 2022, 11:09:13 AM
The activities of this guy are like gambler. Gamblers often drink alcohol and take drug in his body. Because at some point big loss destroys their humanity. Which forces them to take drugs. This makes them forget about that loss for a while. Which has happened to this guy and has caused a great loss of his life for his Addiction.

Nobody is forcing anyone to do anything. I believe that everyone has the power of choice. You always have at least two options, no matter how much you lost in life. Think about disabled people.. they could just as well indulge into alcohol and/or drugs to cope with their suffering, but yet many of them are grateful for still being alive and try to make the best of it.

This is exactly why not only gamblers, but a lot of traders should seek psychological advice. The emotional and psychological part of trading is underemphasized.
91  Bitcoin / Bitcoin Discussion / Re: Man lost everything to Crypto on: July 02, 2022, 04:19:34 AM
Real-time incident of an user who trained himself to be a trader. Got addicted and lost everything. Steven is the person who kept adding more cryptocurrency to his portfolio. In an interview he mentioned drug, cryptocurrency and alcohol has destroyed his life. In the beginning Steven knew what he's doing. Later he ended up losing around 5-10 bitcoins. He don't know any information about the addresses and now struggling to recover it.

He says trading is gambling. He has learnt by his own and has always been a good trader. Now he spends day in one of the rehabilitation centre in Scotland.

Data : Man Lost Everything to Crypto

People don't realize it. Trading can be EXTREMELY (and I mean it) rough on your mental health if you don't have equilibrium in your life. But that's also the beauty of trading - it goes hand in hand with your development as a person (emotional, social, financial, intellectual). See the contrast below:

Each day you wake up, firing up your monitors, get caffeinated, not moving. not doing any form of exercise. You nervously start analysing the markets thinking you have to make money today to pay your bills. You start 'hoping' the market will do what you want it to. It is evening and you lost 4 times what you hoped to make today.  You go to the bar and indulge yourself in alcohol. You get up next day with a hangover and you restart the cycle. You don't have a journal, you don't learn from mistakes. Zero progress, only regress.
-----
You wake up, you meditate, you go for a walk, you journal, you hit the gym, you make the trading plan for the day, you execute the plan. At the end of the day - you journal your trades and your process including feelings, thoughts and what you could have done better.
92  Bitcoin / Bitcoin Discussion / Re: Did Bitcoin Disappointed You ? on: July 01, 2022, 08:26:06 PM
As far as I am concerned it is doing its job wonderfully:

  • Network is secure (no problems, no hacks) and developers are constantly working on improvements.
  • Security increasing <--> hashrate and mining difficulty steadily going up
  • Adoption --> more and more attention from both institutions and retail
  • Halving --> the block rewards are halved each 4 years as designed to do
  • Fees --> the transaction fees are decently low and the network is not congested.
  • Price --> it fluctuates as it should - Bitcoin is still an emergent asset
93  Bitcoin / Bitcoin Discussion / Re: Will you be in favor of Gold or Bitcoin !! on: July 01, 2022, 06:00:52 PM
For one to come to a conclusion regarding the viability of the two assets as a store-of-value and analyse their potential as investments he needs to know the history of money. Here just a few points to take into account:

Gold
  • It benefits from the ingrained concept in our mind that it is a valuable thing to own. The world has been saving in Gold for thousands of years. A lot of time needs to pass to change mentalities.
  • As the OP stated the total supply, while limited, is still unknown to us.
  • The cost of extraction - while the supply is not known the cost of extracting the gold from discovered sites might block the actual injection into circulation of the precious metal.

Bitcoin
  • As the supply is limited by hard, pure, state of the art code, we can really trust that Bitcoin is extremely rare.
  • Digital and portable - it does not take up space and is not that susceptible to physical theft as Gold is. (i.e. Try walking on a dark alley in a dangerous neighbourhood with a gold bullion in your pocket. See how you feel.
  • Security and self-custody - with a little bit of research and cybersecurity knowledge you can safely store your wallet.

If you are an open-minded person Bitcoin is a much better store-of-value from all points of view. Who says that value has to have a physical form? --> this is a question I could write a long essay on, but I'll save it for another time.
94  Bitcoin / Bitcoin Discussion / Re: Invest in bitcoins and save yourself from Inflation on: July 01, 2022, 04:16:18 PM
During all these years bitcoin was always known to be a hedge against the inflation rate in most countries, especially during the economic crisis when the food and drug prices are rising every day but the minimum wage doesn't rise like the other things, and people are getting poor because of that it. On the other hand, the only thing governments can do during this time is only print more paper money which will make things worse and can be another reason for the increaseing of the inflation rate, people should seek an investment option during this time and bitcoin is always the first option in this situation for them.

Yes, but people who are paid in highly inflationary currencies should be very careful about managing their finances. They need to find the balance between saving their time & energy (work) and clearing their monthly/yearly expenses.

For example, when Bitcoin is in a bear market and you put 500 CCY in it, and you needed that money for let's say a medical expense in 2-3 months from now and BTC dips 50% I'm sure you won't be happy.
95  Economy / Trading Discussion / Re: waiting to buy lower? on: July 01, 2022, 02:32:55 PM
I mean veterans do make mistakes, but they do not make mistakes as much as a newbie, hence why they end up with a profit more often than not. This is something we should be focusing a bit more towards and that would be a lot better for everyone involved, if you just gain experience. Just because veterans make losses, do not be hopeless about your future, of course it is not going to be 100% right trades, but you are going to be mostly profitable aside from few bear periods like this.

But, if you gain experience and learn the tricks, then I think the best case would be the bull period where people end up making profits beyond wildest dreams.

I do not recommend making your decisions based on anyone else's opinions/advice unless you want to gamble. I wouldn't trust even certified financial consultants to handle my money. I would accept advice and information/education, but that will get filtered in my brain.

--> Why?: Because when you're outsourcing your finances management to someone else and they lose your money you won't learn from mistakes. You will just have somoene to blame, but that does not bring you any benefit. Your ego will not get hurt though as you haven't made a mistake. But you might beat yoiurself for handling your money to whomever was the person who managed your portfolio/investments.

Just due some due diligence --> it really does not take that much time to absorb a decent level of information about the market you're trading and come up with your 'edgeucated' decisions.
96  Bitcoin / Bitcoin Discussion / Re: Strong Hands Are Buying on: July 01, 2022, 11:51:20 AM
Follow the big money! Wink

Price does not correlate with value in the short and even medium term. I think this is something most of us forget.
The sell-off is mainly caused by the instability in the economy, but what people will come to acknowledge with time is that Bitcoin should be the safe haven in crisis times. Due to the lack of liquidity in the market higher interests might be at play now --> big players want to accumulate more at lower prices so that they drive the price down through different techniques.
97  Bitcoin / Bitcoin Discussion / Re: Should the physically challenged be exempted from bitcoin? on: July 01, 2022, 06:27:29 AM
I'm not sure how are they dealing with the current financial system? I mean the deaf can still count, the blind can pay using touch. I'm sorry but those who are "dumb" as you call them (I'm assuming you are referring to persons who are retarded) should be assisted by family when handling money.

Yes, physically challenged people can benefit from Bitcoin but that can be simply done by their social assistant explaining to them the concept behind Bitcoin and at their will invest some of their savings in the digital asset.
98  Economy / Trading Discussion / Re: Are we going to recover or continue to dump? on: July 01, 2022, 04:32:52 AM
Therefore, we have to expect that this will stay for a while until having the moment to hear good news and huge buys. It is somewhat we just miss by now, whales are seemingly quiet at this time, and big business institutions as well.

I may be wrong but I would say that we end up this year without huge changes, we may still see the price of Bitcoin below $30k. 

When big money is "quiet" that usually means they are busy Wink
When the buzz is on the street that's when the retail money enters. Remember that every time there is a sell order, there must be a matching buy order. However we can look at the footsteps of the giants in the industry. e.g. You can use technical analysis --> when support/resistance levels get 'wicked around' with big volume can be interpreted as liquidity hunting aka deep pockets hunting other traders' stop losses around the respective interest level.
99  Bitcoin / Bitcoin Discussion / Re: According to Sam Bankman-Fried, some Bitcoin exchanges are insolvent on: June 30, 2022, 08:20:19 PM
I think there needs to be more regulation in the crypto exchanges space. I mean Bitcoin is around for more than 13 years now and in the past few years the investmnet/trading activity has significantly increased. IMO there shoud be certain limits/minimum requirements that exchanges (especially the major ones which deal with massive volume) have to meet like a minimum reserve amount that should be kept at all times in current accounts to fulfil clients' needs.

Also I think these companies should be audited and at least part of the results to be published for the use of all stakeholders in the form of a monthly/quarterly/yearly report.
100  Economy / Economics / Re: The Russian Federation may be about to make a "Corralito" on: June 30, 2022, 07:30:14 PM
Bitcoin certainly looks like a very good solution and somehow of a safe-haven for the russian population. I mean Russia hasn't banned cryptocurrencies, quite the contrary --> they have stated they are accepting payments in Bitcoin from their partners. Fiat is a very risky instrument to store your wealth right now due to political and economic uncertainties. Why would I want to hold Ruble besides covering my monthly expenses when the whole world is against the country's government?

There is one thing I know --> when the state performs major interventions in the economy, the long-term effects are most of the time catastrophic
Pages: « 1 2 3 4 [5] 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 ... 205 »
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!