Most of the time, early investors get good returns - regardless of whether the project is DEFi or not. The main thing is not to put your money in pools for the long term, as the interest earned may not compensate for losses due to the likely drop in price. There are many defi projects right now, and only a few will survive.
as long as you can take advantage of the moments and trends that occur, you will get good profits, indeed for the long term it is not good to hold, considering that this will only happen in a momentary trend. if the trend is over and there is a decline, it will be difficult to recover, especially if we keep holding it, it might just turn into trash, therefore we must be able to analyze properly and be able to take advantage of the situation |
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The recent price drop of Bitcoin and some bad news on the market may cause a new round of FUD for investors. With the price going down, Bitcoin will be more volatile in the short term and the Altcoins that depend on Bitcoin will go through more ups and downs. In this bear market, more investors are hesitant to any Altcoin investment. Apart from the macro environment factor, what truly holds you back from investing in Altcoins ? Please let me know your thoughts.
indeed in investing bitcoin is the best coin, but that does not mean altcoin investment is not safe, it depends on what altcoin we invest. for me ethereum, bnb and polygon make great altcoins to invest long term. but it will be very risky if we invest in new altcoins where there are not many communities, and of course it will be very volatile and likely to be manipulated, but if we can take advantage of the moment it will certainly be very profitable, even though it is risky |
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Recently, I've been wondering, and based on the people I live with, I'd say that only 20% of them know what cryptocurrency is.
Sometimes I ask my friend or colleague if he knows what Bitcoin is, and if they're young (20-35 years old), they say, "Yes, I've heard about it. But I don't know much about it."
If I'm talking to older people (40–60), mostly they don't know what it is.
We are living in a world of big changes in every aspect of life. But do you think it will be time when cryptocurrency will come into our lives and be normal for all people? Will people be able to trust crypto?
I'm wondering what your opinion is about this.
Cryptocurrency is still very young, so people don't know and use it yet. Even in my area, many people have never heard of it. And we should be proud and take advantage of the opportunity because we are the pioneers in this revolution. Take advantage of the opportunity because when people know about it, the opportunity will not be as many as it is now. the main advantage of not knowing many people is that we have more opportunities to make money from investing in bitcoin, so that in the end when a bull run occurs, more and more media will report about it, and more and more new bitcoiners will emerge, so that we will benefit from current investment. although many obstacles were encountered in its development, now people are starting to understand the characteristics of bitcoin, to the point that the decline in bitcoin is an opportunity to buy, there is no need to worry |
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That would be a dream come true. But people often see Bitcoin as an investment tool (not a currency), so don't count on BTC becoming the global unit of account anytime soon. It will always remain an alternative to Fiat because of the way it was designed.
...
Of course it will take lot of time, and of course people still not often consider BTC as a currency. But "a journey of a thousand miles begins with a single step". People will use bitcoin as a currency when it become a comfortable option, when its volatility will go down and when in mostly every bakery around you'll have an option of paying for a small bun and small cup of coffee with BTC fast, cheap and secure. So it is a matter of time and further technology development. But once bitcoin becomes stable, will people continue to use it? Honestly, from what I see, 99% of people invest in bitcoin for profit, and very few people care about its technology. So if bitcoin is stable, I doubt they will continue to use it. I believe that you and I, and everyone in the market today are interested in the bitcoin price every day. I think precisely with the high volatility of bitcoin, that's the interesting part because we will get profits from bitcoin, if bitcoin becomes more stable then the function of bitcoin as an investment tool may become less attractive, apart from its main function as a currency. precisely as it is at this time that is our opportunity where there are still few users and we can buy until later the more users there will be more demand and finally the price will rise. I guess that's the main goal nowadays of people being bitcoiners |
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This is why people here stress you should buy bitcoin without KYC. Privacy is essential!
KYC is bad and should be avoided at all costs.
At very least, XMR swap, or mix your coins!
KYC is not bad because it’s the way to determine the people background. It’s purpose is to detect any fraud that involves money laundering etc. It’s just bad on crypto space since most of the project here doesn’t have the capacity to safely store the data of their consumers that’s why undergoing KYC on crypto projects is dangerous but KYC purposes itself is good if you are a law abiding citizen since your privacy is safe if the company handling it is license and trusted due to the confidentiality clause for the KYC procedure. Yes, this is correct. The only problem that I can see is how they make sure that the information that we have provided is secure and will not be compromised or sell our information to unknown people since it can be used to make crimes or suspicious activities. I guess that some people may not feel comfortable sharing their information and avoiding exchange or other platforms that are required to provide personal information. like me personally, when asked to do KYC, of course, I question the security of personal data, as long as it's not misused or traded, maybe there won't be any problems in the future, but there are lots of concerns, especially since we're in the digitalization era, and it's difficult for us to defend ourselves, like the law in a country where the procedures are clear, therefore it is necessary to be careful, to check first that our ID is safe |
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Because humans make it to be so. if you look at most of the world's problems they all have some connections with money. So like you said, money rules the world, without it, nothing meaningful can be done.
If you take an undeveloped country for instance, no matter the human resources it may have, without money or a better means of generating revenue, it will struggle to develop. Same applies to businesses. Almost everything (if not everything) revolves around money. Nothing can be done in its adsence.
although money is not the determinant of everything, there are many problems that require money in all its solutions. Money becomes a force to measure the level of success in a developing country where all areas of development must work in unison. because of many incidents, the state gets a large income from the available natural resources but its government does not really care for its people, and finally the country falls, several countries declare collapse because of this, and instead of the people being prosperous but actually miserable |
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there are many people investing in bitcoin, some are profitable and some are losing. and I believe bitcoin has a big advantage. The question is whether when you benefit from bitcoin, you can help your economy and your family?
So far bitcoin bitcoin is one of the assets that has been proven to be able to help grow my economy when experiencing financial constraints, such as when there was a pandemic last year where we all could not do work outside the home and caused us financial difficulties but at that time the existence of bitcoin is very useful because we can still get passive profits from bitcoin when the global economy is in chaos and many people recognize that bitcoin is good as an alternative asset that can save us from economic collapse. You are right, we are experiencing an economic crisis during a pandemic where we are unable to do any work to earn income and even public areas have been closed because the covid outbreak continues to increase, but the crypto market has saved us from a state of economic crisis because many traders get passive profits for meet their needs during the pandemic. for those who have knowledge about cryptocurrencies, it is not a problem in economic conditions can still survive in that situation. but we can see that many people expect big returns but in the end they end up losing money. but what I feel from the benefits of investing in bitcoin really helps my family's economy, where I can buy tertiary needs, which were only wishful thinking before |
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Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?
In a high-inflation environment, I think it isn't wise to save in form of money since the value of money will depreciate as time goes by. I think if you have money it is better be stored in a stable asset that does not depreciate as fast as money. I wouldn't advise keeping it in cryptocurrency because of the possibility of the time when you need the fund, your crypto is in a bear market and is 99% less in value. Bitcoin can be an option but still, it is highly volatile unless you start saving during the Bitcoin bear market. when it's difficult like that to save in cryptocurrency the main thing is you have to have good knowledge, considering the high fluctuations. I think saving in gold can be an option at least the value is not eroded in inflation. Indeed, to anticipate unexpected things like yours, we must have a reserve fund, and that can be used when we are in trouble. therefore money management in the economy is important, instead of spending one month's salary in one month |
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While emotional control is great, you can have top-tier emotional control over your trades but in the end you're still a bad a trader if you don't know how to trade in the first place.
Precisely. Emotional control is just one of those factors that could contribute to the success of trading. Even if you are able to manage your emotions, but the fact that trading is not meant for you, then you can’t be successful and become profitable in trading. That’s why a lot would want to trade for profits, but the moment they endure consistent losses, they end up quitting rather than learning and pursuing their trades. Emotions are indeed one of the determinants of trading success, but emotions are a key factor that must be controlled considering that they hold the largest percentage in determining trading success, I think around 70%, the remaining 20% money management and 10% technical. therefore for those who fail consistently and finally choose to get out of trading, then their psychology has given up because of a bad experience |
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I want to know if it right for children that are of 10-15years go in to trade or not because I have a kid friend of about 14years and very eager to learn trading but am scared of the lost and how long it will take him to understand what his doing, because it hasn't been very easy for me. So what your opinion please I need help? because I think is too risky for them to go in to trade for now.
trading is indeed for everyone regardless of one's age or level of education. but this time for children stepping on teenagers. I think providing knowledge about trading really needs to be done, but for real trading, I don't think it's time yet, considering that trading requires a stable psychology, teenagers are usually still emotionally unstable, just like you have your own worries |
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I will advise you to use this period to buy a huge amount of cryptocurrencies and hold for their price to increase higher before you can visit the market to make some profits that will make you feel good in your investment.
Sorry it is not all about buying huge amount of coins to be rich in cryptocurrency because many other people have gone that way of buying huge amount of it but they ended up buying every shit in the market. The most important thing is not to invest but to study the technology and how the system works together with the season so that when investing, then you can invest rightly. To buy coins is not really a big deal but to profit while hodling it. knowledge of cryptocurrency is the main capital to get money from this business. many people fall for temptation to buy bitcoin, and end up buying without knowledge of cryptocurrencies, so they feel cheated, even though they themselves don't know how it works. even if you already have knowledge, I don't think it will be affected by the trend to earn money, namely by trading |
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the same thing happened to me, where i used to have Ethereum as a stash, because i had an emergency so i sold it without sparing it, it was at the end of 2020, and it was around $300. try if I hold it 4 months later, it will be able to smile broadly. but that's the journey of life, and I have to learn to let it go, so I can look for it again, and it just so happened that at that time ethereum was my only treasure, maybe it wasn't my luck, even though at first there was no intention to sell it
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Now bitcoin is preparing to reach another ATH. Are you still there and holding your bitcoins? What happened to your life after 10 years in bitcoin? Is there any changes?
I've not spent up to 10 years in bitcoin, I discovered bitcoin in late 2015, I watched it all through 2016, i bought my first bitcoin in late 2016, so if I should calculate from that, i would say that, this year, 2023 will make me seven(7) years in bitcoin and cryptocurrency in general. And yes, my life have become better, much more better than I have ever imagined, Bitcoin have indeed given me a reason to always be hopeful for some thing good, through bitcoin and cryptocurrency investments, I achieved a lot of things I never thought I could by this time. Bitcoin have improved and changed a lot of lives, I am one of those lives, and I am really thankful. Most of us here where affected as we discovered bitcoin and become a daily part of our lives just like our local currency. We won't be in this forum today if bitcoin affects us negatively, Personally I learned so many life lessons as well as financial lessons that somehow make me realize to trust the technology and industry we are into. I believe I'm a very different person if bitcoin or cryptocurrency didn't exist given that I will learned and devote my life to other things which may change my career or persistency in doing good in my financial situations. I'm just speculating but there a high chance that bitcoin and cryptocurrency being involved at our life affects us in a positive way because we won't really last this long if this sucks our daily energy and turned out to be a negative thing to us. while getting to know bitcoin from 2017, indeed what I feel is changing my life which is to be wiser in using the money we have. in a concrete example, I can buy things that I need, not what I want, but indeed there is some money to fulfill our desires, because for me that is a way to reward myself. so that I feel I can buy a house, which was previously unthinkable for that, because property prices are expensive. it is not easy to change our minds, especially for those who are not married, of course the pleasures of life are the priority, and that is natural. until finally I got married and already had my own place to live. all of this is unconsciously influenced by our habits in trading, which must be able to control emotions and good money management, on the other hand, asset diversification I feel is very necessary, and in the end it is carried over to our daily lifestyle, and I'm sure it will be even greater for the next 10 years |
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There's no guarantee thing on trading but with a higher capital, The chance of getting you big profits is much easier and attainable compared to those who has small capital thus the money you are risking is also high. Having a good consistency is one of the thing that you need to have if you are aiming to make trading a substitute to your daily job. Though for me it's hard to achieve given that the market is so volatile and I'm not really comfortable in doing short trades.
Unlike to small accounts with modest lotsizes, which usually result in liquidation, higher capital yields significant gains. Particularly when the market is volatile, we should manage our trading accounts and know what to do and the things to permanently remove from our minds. Our primary goal is to hold positions in trading that generate enormous profits. There is unquestionably only happiness when a trade reaches our target price for the day. Some traders will close their accounts for the day right away, while others will try to enter another set of trades despite the fact that there is an 80% chance that they will result in losses. for those who can understand what to do, then they can survive in the trade. but for those who are controlled by emotions, they will be mired in the destruction of their trading. trading is not just profit or loss, but how we plan a healthy portfolio to run. if this can be done, then our emotions will be stable enough to face a volatile market, because in the future there will be various kinds of market conditions to be addressed properly, in order to achieve targets like the previous portfolio |
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I would like to give some advice, especially to those who are new to the market. Whoever there is a pump in the market, you think you should invest in Bitcoin and Altcoins and you may benefit from it. But after your investment, the market goes down, and you think you are losing money, so you sell everything, again when you see the market go up you invest. This may you to get hurt again and again and again. So whenever you have to invest, invest a small portion of your portfolio. Never trade on emotions calculate well and then invest in it, also the type of people who lose in trading the et are the ones who"
- panic
- Doubt
- Hurry
- Fomo
- Angry
- worried
A major key for a trader is your enemy is always his emotions.
I just want to clarify a little bit OP, When we say emotions, it's quite a broad matter, to be honest. Why did I say? Because the feeling of fear, doubt, anger, and worry are part of our emotions or human nature. All that is needed is to use our emotions correctly without affecting our assets. Just like we need to be calm enough to think properly and correctly about what to do. OP thinks about the factor of emotions that affects his trades, meaning he can't control his emotions, like if there is hype, he will then jump in, or when he loses, he will always think negatively and end up losing or selling his assets. When it comes to calmness, for sure we are calm while we plan out a trade, but sometimes because we are very eager to trigger that trade, we missed those confirmation signals that would make our trades go on our own way and that is why we lose. the most important thing in trading is discipline. with the discipline of our analysis, we can reduce emotions, be it greed or fear in trading. Emotions are our biggest enemy, if we can't control them, then we will be controlled by them, which of course the end result is not good. but don't worry, because everyone experiences it and only has a different attitude in controlling it. the more we trade, we will be able to get better emotions, if we are disciplined |
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~snip~
No matter what you plan to do on centralised exchanges, do not trust them.
At least Binance tried to get that audit to get the user's confidence regarding cryptocurrency, well, for me I keep choosing best exchange with their fast response customer service as long as they have that and not the best I will use it if I need. I know some small exchange got failed after a few months so whether it's a top exchange or not we can't guarantee the safety. everything does have a risk, our job is to minimize risk so that our funds are safe. don't save funds on an exchange, indeed using it as needed will be safer, and afterwards we can store it in a personal wallet, so that the security of the wallet is completely in our hands. even though the exchange is the best at the moment, we don't know what will happen next, and if the worst thing happens, then there's nothing we can do, which in the end we have to let it go |
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Recently I have been trying to come up with ways of making some money on the side and thinking of giving trading a go.
I have zero experience and have just been looking on Coinbase at the best and worst performers of the day.
I am thinking of buying coins that are 15% or more down and then selling once they pump 10% and move onto the next one that is 15% down and then again sell at 10% profit and just keep repeating.
Anyone done something similar or will it just lead me to losing my money?
its not a bad technique I’m sure you won’t be the first to try it whether you succeed or fail you won’t be the first either so it worth the try if thats what your instincts tell you whatever the outcome it will be an experience you will learn from and if it doesn’t suit you you will have to try another pattern. Trading is not an easy task and you should be ready for the worse especially when it comes to trading altcoins because they are not as reliable as trading Bitcoin. for beginner traders, you really have to gain experience, which is what can make us successful. with your technique, then you have to think about if the price continues to fall, so you have to place a stop loss according to your analysis. on the other hand, be careful if you change coins that have decreased, because it is very risky, especially if it is a new coin, because extreme declines can occur in the blink of an eye, and will make us panic |
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In my opinion, debt will only solve the problem for a moment, but big problems will arise in the future if we are not able to manage finances properly. There are quite a lot of people I know who are in debt but have had a tremendous impact on their lives.
It is undeniable that everyone, when they really need something that is considered important to expand their business, will definitely apply for a loan at the bank and I think that is normal in the business world.
However, what makes debt a problem is when a person is unable to control his personal needs, for example taking credit at a bank only for consumptive purposes, meaning that he is willing to take on debt just to fulfill a desire, not a need. And of course you can't imagine how to cover the installments with just one source of income, of course it's very burdensome.
There are countries that are addicted of taking loans and there economy is entirely dependent on loans from IMF and other donor bodies. In the long run such loans are disastrous for your economy and eventually such economies collapse. The long term solution lies in decreasing your imports and increasing exports and that is only possible when we cut down our demand for luxury imported items. Loans are just a temporary pain killer tablet and not the permanent solution. but there is not a single country that does not have debt, and the more advanced the country is, the more debt it has. what makes the difference is the level of debt security to a country. if GDP meets the requirements for taking debt safely I don't think it will be a problem. on the other hand the designation of debt that needs to be questioned. if later the debt has economic value, and will have a greater effect in the future, then debt can be taken into consideration for the development of a country, for example for infrastructure purposes that support the wheels of a country's economy |
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In my country, for whatever reason, buying fast food is considered wasteful by most people. The solution is to make your own food at home (it is recommended that you have a living partner to reduce food waste).
I'll tell the boarding school boys how they get a varied menu throughout the month for a small monthly meal fee for roommates (say $50 per person). Generally, each room (group) seats 3-4 people, so the cost of buying groceries is $150. Measuring the low cost of living in my country, this figure is actually very sufficient.
Planning a food menu is our alternative to cooking our own food. that way we will know the expenditure planning for our food needs. moreover, I live in a village, I don't think there is a problem with food ingredients, moreover, there are lots of vegetables growing around me, which besides being able to suppress the purchase of food ingredients, of course it is hygienic, and on the other hand, our nutritional intake needs are still fulfilled, that is the most important thing. even in the rice fields a lot of animal protein is available |
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I think it takes a long time and I can't wait to find additional income, and an instant way that I think is easy is to borrow money from a bank or friend by providing collateral,
if we have a good vision for our business then another thing is to invite cooperation with the distribution of shares.
Impatient people will usually never succeed in anything, because they still think that a long time to be successful is a barrier for them. Even though that long time is part of a process that must be patiently passed if they want to be successful in a business or something like that. And the instant way that you do it in my opinion is less effective because you have to deal with the bank, even though someone already has a good vision and mission in running their own business, when they start dealing with the bank in terms of loans. It will also prevent him from growing fast because he has to always pay off the loans at the bank even though the business is still running before it finally closes like in some of the examples I have seen around me in the past year. So think wisely before you make a loan at the bank because that will tie you up with debt. in business the main capital is knowledge, and capital development can be arranged in a portfolio. most people want their business to grow rapidly, thus increasing capital without careful calculations. it seems that they are just in a hurry to get big profits, so their foundation is not strong and in the end they are unable to deal with the problems that occur, because the bigger the tree, the bigger the wind will blow, so it must need strong roots |
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