Latest posts of: tbossmitche

I will always say that experience is the best teacher. As much as you will never live long enough to make all the mistakes yourself, the best lessons you learn are from your own mistakes. The cryptocurrency ecosystem is one very complicated place where you can loose your sanity if you do not thread carefully. However, you can never become accomplished in any capacity within this ecosystem if you are still scared of making mistakes.

The complexity of the cryptosphere is actually one of the things that make it really interesting and we've all got to embrace it to become better at what we do.

I do not believe that mass adoption of cryptocurrencies will bring about price stability. This premise should be the other way round as I am of the opinion that price stability will have a key role to play in enhancing widespread adoption of cryptocurrencies. If we do ever get to experience price stability in the cryptocurrency sphere, it might still be a long way off. I also have a feeling that this might be really difficult because there are people still looking to profit from the prevalent hypervolatility in the crypto space and people like that try to trigger the pump and dump effect for their personal gain.

I absolutely believe stoploss is important when you are trading in any capacity. As much as you might want to make a lot of profit, you need to protect yourself from excessive losses. I will like to term the stoploss feature as a risk management strategy and I advice everyone to inculcate the habit of using this feature as it could save you a lot of pain. Stoploss is important in times when the market is pretty unpredictable and we cannot keep up with the price movement. Your biggest mistake will be not to set up the stoploss feature. If you've not tried it till now, you should and you'll be thankful you did.

#Proof of authentication
Tokenmom username: tbossmitche
Tokenmom ETH Wallet address: 0x67370530ed537ef3b8c1210e6aafa6978462f0dc
Bitcointalk Username: tbossmitche
Campaign: Blog and Reddit
Telegram Username: @Tbossmitche01

If there is one thing I've learnt with my forays into cryptocurrencies over the past few years, it is actually that any speculation is usually a wild goose chase. Speculation is usually for the fun of it as you never know where you will wake up to meet the price of a particular coin. I really do believe the price difference from yesterday to today has further reiterated this fact. My simple advice is that everyone should buy when their intuition tells them to and sell in the same pattern. I simply take speculation as an advice and not a conclusive thought as I always like to do my own research.

I am of the opinion that hypervolatility is a key feature of cryptocurrencies which cannot be taken away. The only way around this was the creation of the stable coins which we already have. Another reason why I believe that Ether might never get to attain stability is because it's price is largely tied to the demand and supply of other cryptocurrencies. If other altcoins are on the rise, you can definitely expect Ether to go the same route and vice versa. All this is just my personal opinion. To be truly sure about anything, we really do have to wait for the future being spoken about to come.

As a beginner, my simple advice for you is to simply invest in the most reliable coins. I will advice Bitcoin mostly because that seems like the most reliable at the moment, to a lesser extent, Ethereum and XRP. The first thing is to try buying when you believe the price is at a relatively low point. At this point, you will just have to wait to see how market conditions improve over time. If you are willing to take greater risks, you can go for coins with lesser volumes because they tend to produce more profit in the long run. I do wish you good luck in your endeavors.

Becoming a good trader is not something that can happen overnight. Profit making in trading is actually something that requires a lot of dedication and commitment. As much as your experiences will teach you the most valuable lessons you will need, there is no way you can ignore the part of trying to read about the best and worst practices of successful traders. For a start, you should only invest what you can afford to loose because you never know what to expect at this early stage. Finally, greed and laziness are two characteristics you will need to keep far away from you if you actually intend to become a successful trader.

Due to the fact that each cryptocurrency exchange platform has it's own set of shortcomings. The best we can actually do is to determine the flaws we can live with and those that simply won't work for us. When attempting to trade, the first and key thing I look out for is the security of the exchange platform. I go with platforms that give me peace of mind as I can't afford to loose my funds. Other factors besides security which I look out for include; privacy, liquidity, support, fees charged for trading and withdrawal. My advice is to always go with the most popular platforms if you do not intend to do a thorough research.

I have actually seen similar topics a number of times on this forum before now. As much as Bitcoin fanatics look forward to a time when banks will actually be rendered obsolete. What I can tell you with a degree of certainty is that this is not going to happen. No matter how cryptocurrencies actually get accepted, fiat will still have it's role to play in everyday exchange of goods and services. Cryptocurrency also would not be able to push out fiat and the banking system because a large percentage of the world still won't have access to the devices needed to transfer and receive cryptocurrencies.

I like the fact that you clearly stated that risk taking is a key component of life itself. From leaving home and not being sure when and if you will ever return or having to start that business that looks like it might not be successful. Narrowing it down to the field of cryptocurrencies, I will simply say that investing in cryptocurrencies is a risk in it's own self. It's often easy to see people being wealthy through previous investment in cryptocurrencies and admire them. However, what we fail to see is the risk and hardwork that the had to put in to get where they actually are.

Trying to trade without losses is simply like trying to find the highway to heaven. Simply put, am of the opinion that this is impossible. The best you can hope for is simply trying to make more gains than losses. As a newbie, you really have to trade only what you can afford to loose while trying to document the things you did right and also your mistakes. In the long run, you will be thankful you did that as there is no better teacher than experience. Finally, always be ready to accept anything that comes your way, "Hope for the best but expect the worst".

My skepticism on this topic is well founded due to the fact that we might all just be getting deceived by the whole concept of cryptocurrencies. Who knows whether it's a man behind it, a secret society, or some form of sinister genius (just kidding). Whoever it was did an absolutely good job because blockchain technology is seen as the future.

Personally, for some weird reason, I would have found it difficult to invest in Bitcoin if Satoshi wasn't anonymous. I'll probably just stare at his image everything and believe he is scamming the world's entire population. It's pretty good that he's anonymous though.

Nothing will happen to them because fiat currency will always be a valid means of exchange. The moment we start looking forward to a time when cryptocurrencies will completely make fiat an outcast, the more we appear to be extremist. In the world we live in, I believe that the so called illiterates make up the majority of the population. Trying to take them out of the equation will mean that we're counting them off from life. The bottom line is that it will be a matter of choice what each person seeks to use for exchange of goods and services. If one does not understand cryptocurrencies, fiat will always be there.

FUD is often spread by people who are afraid to invest themselves while looking for people to drag down with them. It also turns out that FUD is usually fake news more often than not and this is one thing that forces novices in the cryptocurrency sphere into panic selling. I totally agree with you that every individual needs to make an unwavering stand on what he believes as the cryptocurrency space is unforgiving to the faint at heart. We should really learn to close our ears to what is being said around us, as I believe it is time to rise to the challenge that Fudders pose.

Yes, one of the true goals of blockchain technology and cryptocurrencies at large is to facilitate seamless transfer of funds. This will definitely be a much easier way to pay freelancers and other workers across the border of specific nations without having to worry about currency exchange fees and the exorbitant costs. However, some people might claim that PayPal, MasterCard and outer platforms like that have been doing a good job before now but we all just have to admit that transacting with cryptocurrencies take the ease of transacting to a whole new level of being easy.

You do have a valid and strong point on this one. However, we cannot deny the fact that a lot of merchants still shy away from accepting cryptocurrencies due the uncertainty with crypto prices. No one really wants loose while holding on to some virtual coins. A major reason why I believe that the users also are at fault is due to the fact that we are all just truly concerned about the profits we stand to gain by hodling and selling cryptocurrencies. This is sad considering the fact that we all claim to be looking forward to mass adoption of cryptocurrencies. The movement should start with us as individuals.