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1  Economy / Trading Discussion / Re: Why you don't need to HODL or trade Bitcoin on: March 27, 2021, 03:00:13 AM
As i can see, not many people are read the whole topic. I suggest everyone to read all replies before posting your reply.

You're just trolling, right?  Your posting does not make any sense whatsoever otherwise.
If you don't agree, then make your words more argumented. I'm tired of people that just saying "nonsense" to anyone they don't agree. Look how my posting is structured and argumented. If you think that my arguments are "nonsense", then prove it, aswell as I'm trying to prove my beliefs.

So, do you have some sort of personal vendetta against bitcoin or something?
I've already told that i have not any personal hate against Bitcoin. I am repeat: read the whole topic.
What what is this "disaster" you are talking about? What makes you think that Ethereum would be able to survive, but not Bitcoin?
I've already told about issues that Bitcoin have, and Ethereum have not, but let me clarify.
Bitcoin became more centralized due to ASIC mining. China is the leader in the Bitcoin mining industry, the most of Bitcoin's hashing power are centered in China, cause they can produce ASICs cheaply, and electricity is relatively cheap there. By statistics in the Internet, China may have hashing power over 51% of the whole Bitcoin network. That means China can perform 51% attack on Bitcoin network, but currently they don't do that. But how can we trust Chinese government that they will not suddenly consider Bitcoin as the threat of Chinese currency? This is not conspiracy, if China have power to attack Bitcoin, this will be disaster for it. Cryptocurrency needs to be decentralized, for long-term investment.
I think this issue is the most dangerous.

Well, I think OP is not really a fan of Bitcoin. All your suggestions and protection towards Bitcoin haven't good for him.

We don't need to argue why we hold Bitcoin or not. OP has already decided what could be the best coin for him and he should keep and trust it. It is not this time we have to see the result and to knows who wins either the Bitcoin holder or ETH holder (OP).

We all are here for a reason and most of us are here for investment. And we are free to choose which one seems to be best and profitable. Because for me, I hold and traded them both.
I've already told: do what you want, this is your money. My purpose is to share my thoughts with crypto community.

If you ask about what Bitcoin exactly can give? I will say that bitcoin provides us with a chance to make money from the internet because we live to need money, and while people busy making money from their offline, we have another way to make money.
Of course Bitcoin can give money as any other crypto. But by "what Bitcoin exactly can give?" I mean it's intrinsic value. If Bitcoin have clear disadvantages, like centralization, that will break it in next several years, i suggest to not hold it for too long. The last decision is on you of course.

ETH shares the exact same on-chain problems as Bitcoin. If you think Bitcoin is outdated, then ETH also is. The thing is though, the only solution to their problems is reducing their decentralization levels. If you want them to be super fast and super cheap, then they need to be super centralized as well. You just cannot have all three.
Strange statement, Ethereum not shares all problems with Bitcoin. Just think a bit, why are there so many cryptocurrencies developed at different times? You really think that they were developed, just so developers can profit from it? You right! But not all crypto were developed for that purpose. Litecoin, Bitcoin cash, Ethereum, Monero, and many others were developed to mitigate drawbacks of Bitcoin, but have their own issues aswell. I think it's not impossible for some cryptocurrency to be decentralized, fast, cheap, and convenient, if developers are trying to improve base ideas of Bitcoin.


ETH is almost as expensive as bitcoin to operate. People who say Bitcoin is very expensive also not using ETH anymore. They use other currencies and they are either very centralized or nobody is using it so there is more room. Litecoin, Bitcoin Cash or Monero will also have the same problems as Bitcoin once more people start using them. (btw BCH is more centralized than the others because of its block size)

Decentralized, fast, cheap.

Pick 2.

You can't have all.
I haven't told that LTC, BCH or XMR are better than BTC, I've mentioned them because, many developers are see deep problems of Bitcoin, and are trying to solve them.
The main disadvantage of Bitcoin, is that it cannot be changed. Any major changes of source code leads to new cryptocurrency. Ethereum just more flexible, and have gone the difficult way to prove it's value.

Bitcoin can't help organizations and investors get rid of the fear that this is all just a bubble.
Bitcoin is important step to revolution of the whole financial system, but not the last. It exists now, because not many people understand that Bitcoin is relic of the past. Ethereum is much more promising than Bitcoin with it's smart-contracts. HODL Ethereum not Bitcoin, when the disaster comes, Bitcoin won't survive.

There is really something on your head which is not right at all mate. You are thinking completely wrong about the bitcoin. With the advancement of more enthusiasts bitcoin actually has captured more and more investor based attention. On one hand people do think that bitcoin can give rise to decentralised banks and on the other hand it has futuristic use in the share market to inter-country transfers. In this case, sky is not the limit! You never know what amazing usage might just come out if someone really push it hard. The big game!
I really like your enthusiasm, really. But read the whole topic. Decentralized banks are not possible with Bitcoin, cause it's centralized. If there is cryptocurrency that faster than Bitcoin, more secure, durable and convenient, that crypto may become more important in the near future. And this is not necessary to be Ethereum, I just don't see better, long-term alternative, in case if Bitcoin will totally fall.
Don't be overwhelmed by Bitcoin dominance, in crypto market, changes can happen in the matter of days, you're all know this better than ever.

I don't know how you came about this conclusion but  what I can say is that it's totally absurd. If you'll compare Ethereum to Bitcoin, then you'll need to compare their price movement over the years. Look at what bitcoin achieved in its first five years and compare it to that of Ethereum.
Compare the price movement of bitcoin in the last five years to that of Ethereum and determine which has more potential. I don't know why you'd think Ethereum has more potential than bitcoin when Ethereum is still under $2000 and bitcoin has break $50k. 
If you however think Ethereum is better than bitcoin, then good for you.
I'm not saying that Ethereum is more profitable than Bitcoin, I'm trying to say that Bitcoin have problems that will lead it to fall, and Ethereum have enough technical concrete to withstand, and maybe become next dominant.

And one more thing, I'm not saying that Bitcoin will crack right now, I'm saying that it happen in next several years.
I'm not forcing anyone to beleave me or do like i suggest, we need to talk about anything regarding Bitcoin, to make cryptocurrencies better instrument for investing, trading, and use.
2  Economy / Trading Discussion / Re: Why you don't need to HODL or trade Bitcoin on: March 26, 2021, 01:59:39 AM
I think that there's misunderstanding of my position about Bitcoin, Ethereum and alts.
I cannot blame you for having a negative impression towards Bitcoin yet I assure you that your points are wayy old and were already wrong in the current market situation.
I have no negative impression about Bitcoin. This forum exists for discussion, not the praise of Bitcoin, aswell as other crypto. I just looked at the code of Bitcoin and whitepaper a bit, looked at the history, looked at the other cryptocurrencies. I don't blame anyone that love Bitcoin, cause i love it myself. But i wanted to express more critic view, that catched my mind.
Yet you cannot just point out your ideas as it would all fall down to the fact that a user choses to invest/hold, regardless of the risk he/she already knew about. Yes, you can lose everything in investing on crypto, yet aren't you warned at the first place? Wink
Because of that, i told:
~
Tell me your opinion. Wink
I'm not ordering anyone to buy Ethereum, I'm just expressing critic and not so ordinary point of view. The last decision of what to do is on you of course, and i know about investment/trading risks, obviously, we're not kids here.

Actually it depends on someone's strategy and knowledge, you can blame for someone who hold bitcoin for long term investment because he has understood how to manage bitcoin for long term investment. Also, the stragegy that will be used seem like will be different, most of long term hold will focus on fundamental analyst not TA. Maybe they will use technical analyst but they will use high time frame.

Also, You cannot justify someone who has a strategy for short term investments or day/swing trades. Sometimes this way can make you get a huge lose, remember low time frame can be manipulated easily by some whales. They will sell their bitcoin so as will make many people take a panic selling as a solution to safe their money but it is just for a while and the whales buy back at the lowe price. This is why there is no safe 100% when you choose long term and short term strategey.
I'm not fully against the TA, if you spotted some pretty predictable property of price using the set of indicators, developed and tested trading strategy and have good money management, then of course go ahead and trade.
Just my personal opinion: long-term: Ethereum, short-term and active trading: other alts.

ETH shares the exact same on-chain problems as Bitcoin. If you think Bitcoin is outdated, then ETH also is. The thing is though, the only solution to their problems is reducing their decentralization levels. If you want them to be super fast and super cheap, then they need to be super centralized as well. You just cannot have all three.
Strange statement, Ethereum not shares all problems with Bitcoin. Just think a bit, why are there so many cryptocurrencies developed at different times? You really think that they were developed, just so developers can profit from it? You right! But not all crypto were developed for that purpose. Litecoin, Bitcoin cash, Ethereum, Monero, and many others were developed to mitigate drawbacks of Bitcoin, but have their own issues aswell. I think it's not impossible for some cryptocurrency to be decentralized, fast, cheap, and convenient, if developers are trying to improve base ideas of Bitcoin.

I believe you are a true Ethereum fan and cannot be denied. Not everyone sees bitcoin based solely on the benefits it will get. Those who only see the benefits are ordinary people who are new to bitcoin and not the technology. Remember that Ethereum is still dependent on bitcoin and other altcoins are dependent on bitcoin. Currently cryptocurrency is very far developed and new innovations continue to emerge. Remember that vitalik buterin was also inspired by Satoshi Nakamoto with his bitcoins. There's nothing to argue about anymore. Bitcoin, etehreum or any other altcoin have their own advantages and disadvantages.
I'm not Ethereum "fan", I'm not even the "fan" of crypto. I'm researching and learning cryptocurrencies aswell as you all do. I just take it seriously, not as someone that too "excited" or making "fun" of it. This is not bad to be excited or making fun of it, this is just my personal, cold-blooded "inspiration".
Other cryptocurrencies are not so depended to Bitcoin as you may see. Price doesn't tell that much. If Bitcoin get cracked, hacked, breaked or whatever can happen, the price of other crypto will drop, definitely, but that doesn't mean that Ethereum or other cryptos just disappear.
I can't get why all of you telling me that some other crypto is using Bitcoin "ideas", that Vitalik inspired by Satoshi, we're all already know that. This sounds like this is something bad to be "inspired" by someone, and use something as reference in project. If to think that way then, Satoshi is a bad guy too, because he used ideas of Nick Szabo, and Bitcoin is a bad project because it used ideas of Bit Gold as reference. You really think it's so bad? I just can't get, why are pointing me that?

I don't want to hurt someone, we are just discussing.
3  Economy / Trading Discussion / Re: Why you don't need to HODL or trade Bitcoin on: March 25, 2021, 05:33:50 PM
So technically, you are also suggesting a different coin to HODL. Not Bitcoin but Ethereum? Don't you think that volatility is way better with BTC instead of other altcoins?
For HODL, you don't think about volatility. It's long-term investment, your trust in the future of the asset.
But that's it, bitcoin is the firstborn and it's the most adopted and accepted crypto in the world. It wouldn't change the fact of what you're saying but that's it.

And another fact that all of the new coins including the older ones only took the idea of bitcoin.
Seashells were the firstborn, adopted, and accepted currency in history, aswell as, rice, silver, and gold. But this is not reject the fact that they have weaknesses, that in long-term, made them not valuable or practical. Paper money replaced gold cause of convinience. Cryptocurrencies is intended to replace fiat, but Bitcoin have long-term issues, that i described earlier.
There is nothing wrong to modificate ideas of Bitcoin to make better crypto.
So you can say that it has promising future, but bitcoin will remain dominant.
That everyone are just hyping now, doesn't mean it will remain dominant. Bitcoin is accumulating deep problems, that will break it in next 5 years or a bit more.

Come to think of it,  no bitcoin=no altcoins=no etherum.
What? Huh Bitcoin can crash by itself due to issues i mentioned above. And price of Bitcoin doesn't reflect that. Price of any asset represents psychology of all participants in the market. Price is "strong" because everyone see it like this, and cause of that you can't predict the price. Can you predict people behaviour? And price cannot predict anything, just cause it looks "strong". But psychology can change, and you better be ready that dominance of Bitcoin will last not too long.
4  Economy / Trading Discussion / Re: Why you don't need to HODL or trade Bitcoin on: March 25, 2021, 01:51:13 AM
Another question on my mind is, "Why these big companies recently, not bought Ethereum? Why they bought only BItcoin and added to their balance sheet, and most of them gonna HODL for the long term".

I am not hater of Ethereum, but what is on my mind is Bitcoin already proven to hold and manage to transaction huge amount of money, it can transfer millions of USD with a very cheap transaction fee in just short period of time.
Why big companies not bought Ethereum you ask... Hmm... Because they already bought it. Ethereum encreased in price aswell as Bitcoin, they just diversify their money, but put more in Bitcoin because it's the mainstream.
Bitcoin can't handle many transactions, the volume doesn't matter, send you 1$ or 1$ million. The number of users of Bitcoin network is encreasing, the quantity of transactions are also encreasing, that is the matter.
Big players on Bitcoin market initiate any big move. You really thinking that Bitcoin suddenly encreased in price because it's so valuable out of nothing? And then, when something happens with Bitcoin price, that is reflecting on price of other top cryptocurrencies. Bitcoin is the face of crypto market now, and cause of that other crypto tends to Bitcoin, like childs tends to their parents. But when they grew up, they are starting to live independenly, and in many aspects be better than their parents. Society is progressing like that, everything is progressing like that, new replace old. This is called evolution.
If you want to succeed, you need to be one step ahead of everyone, otherwise everyone will go far away, and left you out.
5  Economy / Trading Discussion / Re: Why you don't need to HODL or trade Bitcoin on: March 24, 2021, 11:53:17 PM
I think a big mistake that people do, when looking on Bitcoin, is only profit. There is nothing bad about it, we all need money. But Satoshi Nakamoto doesn't made money machine so everyone can get rich, Bitcoin is money itself. I just want people to understand why he bringed this technology. Bitcoin is very successive experiment, it showed us that we can put our trust to cryptography, decentralized public ledger that we call blockchain. Amazing innovation that early adopters bringed to the masses. But cryptocurrencies need to evolve further, while we looking only on price, developers and programmers from around the world giving new technologies based on Satoshi's ideas. Do your own research, look at the Bitcoin deeper, at Ethereum, at any other cryptocurrency, if you want to be on the wave of crypto technologies, you need to be more inovative, always reconsider your opinion, as Satoshi do, back in the 2008.
6  Economy / Trading Discussion / Re: Why you don't need to HODL or trade Bitcoin on: March 24, 2021, 11:28:11 PM
this is all just a bubble.
I've heard of it many times and it even came from popular people of the world. Telling that bitcoin is just a bubble seems to be an understatement and no one would believe in it anymore unless it comes from an "expert" in economics that really don't like bitcoin.

So if bitcoin is just a bubble.

What's with alts?
I'm not talking that Bitcoin is a bubble, i also dislike when people talking that crypto is a bubble, i'm trying to say that Bitcoin is not perfect. Satoshi can't see the future, he pushed us further to the future of cryptocurrencies. Bitcoin is just not ideal, Ethereum is natural continue of crypto world, Ethereum not ideal too, but it have more promising future. I love altcoins when we talk about speculation, there are interesting projects aswell.
7  Economy / Trading Discussion / Re: Why you don't need to HODL or trade Bitcoin on: March 24, 2021, 11:13:28 PM
Quote
Well, your opinion is totally [BS].
How kind of you.
Quote
Both of them have potential when we talk about holding assets but when we talk about decentralization, I believe bitcoin has a fully decentralized than Ethereum.
As i can see you don't know what decentralization it is. Bitcoin network became more centralized than before cause of ASIC miners. And you know where ASICs can be produced cheaply? This is China my friend. Ethereum is ASIC-resistant for decentralization. So, Bitcoin is more decentralized than Ethereum, is total nonsense.
Quote
Give me at least 5 reasons then you will convince me not to hold bitcoin if not, this is a nonsense statement.
Here you are:
1. Ethereum is faster:
Transaction verifications are prossesed in 10 seconds, as opposed to 10 minutes in Bitcoin.
2. Switch to proof of stake over proof of work carries many technical advantages.
3. Smart contracts are more productive than transactions in Bitcoin.
4. Ethereum's dApps open a new possibility of edge computing.
5. Ethereum is more decentralized.

Bonus:
Ethereum network allows developers to build complex applications, many inovative projects are running on Ethereum network. You always can google it.
8  Economy / Trading Discussion / Why you don't need to HODL or trade Bitcoin on: March 24, 2021, 08:38:37 PM
I want to share some thoughts about the reasons why HODLing Bitcoin is risky, and why you don't need to build any TA strategies for trading Bitcoin.

First: why not to HODL Bitcoin?
HODLing require from you to hold long position for years. You assume that the price will go up long-term. But why it should go up? General reason for that assumption is that many and many people, enthusiasts, developers, investors, organizations of the whole world get to recognize Bitcoin more. This results to encreasing money flow and price. But in essence, what Bitcoin exactly can give? Of course, decentralizaton, self emission, a bit privacy. But Bitcoin lack some features, that other cryptocurrencies have. Bitcoin can't give people enough transaction speed and convinience. Bitcoin can't give developers convinient methods to build applications. Bitcoin can't help organizations and investors get rid of the fear that this is all just a bubble.
Bitcoin is important step to revolution of the whole financial system, but not the last. It exists now, because not many people understand that Bitcoin is relic of the past. Ethereum is much more promising than Bitcoin with it's smart-contracts. HODL Ethereum not Bitcoin, when the disaster comes, Bitcoin won't survive.

Second: why not to trade Bitcoin?
How are you predict price of Bitcoin? TA indicators?
Ranges? Support/Resistance? Price action? Candle patterns?
We all know about bad statistic of these tools. Almost anyone can't say why they using RSI, MACD, MA, CCI, Bollinger bands and other indicators. Why tringle pattern should end in desired direction? How these tools can help you predict, statistically unpredictible price? Price doesn't owe you something.
Price drives by big speculators, sharks, whales, market makers and other monsters of crypto ocean. They are trying to eat each other. Doesn't you noticed that Bitcoin pumps when new antminer ASICs are sold? You think that Elon Musk that smart to buy Bitcoin? He's smarter! Hype of Bitcoin is rising, why not to sell Tesla cars for Bitcoin?
But just a quick and realistic glance at the Bitcoin price chart of last several months gives clear vision of situation:PUMP!. And what happens after pump? Have someone an answer? Sit down, take A+, of course a DUMP!
You need to have insider info. With that, you'll get more chances. Or be the shark, while this almost impossible.
You can keep trading TA of course, scalping works in every market. But how many succeded traders do you know? Those youtubers? They get money from traffic, adverticement and affiliate programs, not from your success.
If you don't beleave in the future of cryptocurrencies, just want to earn some paper money, then HODL Ethereum or speculate with top altcoins with high liquidity and volatility.

Tell me your opinion. Wink

Edit;
For better understanding of topic, you need to read all replies, cause there are some clarifications regarding this topic.
9  Economy / Trading Discussion / Re: Trading your strategy on DEMO is a waste of time on: March 24, 2021, 05:32:54 PM
If strategy is built on the set of rules to get rid of emotion, and analysis is quantitative to make your trading system more accurate, then DEMO is the best choice to pre-test it. Then go small to LIVE for test, and in the end put more money when you done testing for some time.
10  Economy / Trading Discussion / Re: Data suggesting more than 95% traders are losing on: March 24, 2021, 05:16:57 PM
If you call the "trader" every people that "invested" 50-500 dollars. Then yes, i think it's true. But put some thought into the term "trader" and then you realize that someone is the trader when he trading for some time, and don't lose his money. The other "traders" needs to be called strangers, gamblers, begginers or losers. So, in essence i don't agree that 95% of true traders are losing. If you have your strategy that keeps working for you, it will make you the trader.
11  Economy / Trading Discussion / Re: Thoughts on Straight HODL vs Trading on: March 24, 2021, 04:55:03 PM
Many people thinking that HODLing is safe, much safer than trading, this is not so obvious IMHO. How to determine best time to start HODLing? Now, if you look back to the past prices of Bitcoin, you may think it's too late. But when you wait for several months, you regret that doesn't bought Bitcoin, when you thought it's too late. If you has confidence to buy it, price may go up, until fear will step above of euphoria, and then you sell it, not holding for long. This type of HODLing reminds the bad trading strategy. If you beleave in Bitcoin, you need to hold it, not to sell it for the piece of paper, but to await for the times, where goods will be measured with Bitcoin. This is true HODLing, any other time before that future, is risky speculation. If you can't wait for too long, then go for trading, where risk and intelligence are struggle to determine the future of your wallet.
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