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Don't be too optimistic about it. A 10% increase in the BTC price doesn't mean anything. Bitcoin is a volatile asset and price pumps and drops in the range of 10-20% are normal. We can't draw any conclusions about what 2023 will be for the Bitcoin traders/investors by a small price movement, that happens in January. Don't get too excited and don't trust anyone, especially centralized crypto exchanges and "crypto influencers", who are promising things, that are too good to be true. Congrats on starting your Bitcoin journey. I also have a bunch of old stuff that I want to sell, but I can't find any buyers.  Buying BTC should not put interests first. The important thing is to enter this world and let yourself know more about Bitcoin. The most important thing is to reshape your investment thinking. |
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There's a reason why a lot of successful traders use algorithms/bots/scripts to execute their trades — it's to take as much emotion as possible out of the picture. I get a good point, you are correct on this. Basically, uncontrolled emotions can make traders lose money in the market, whether it's in futures or spot trading. Emotion management is a must have for every trader, but if they use tools like bots then it will be very helpful. Watching market volatility during trading will allow anyone to lose control of their emotions, especially if the market is undergoing a sharp correction. To control emotions, you must first control your heart and subconscious mind. You must put your subconscious mind back into a state of positive energy, and make the trading decision you want to make most in your heart. Then don’t have any expectations. There is no absolute right or wrong, and some wrong decisions will last for a long time. It might be good to see too. |
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The more users there are, the less Bitcoin will be controlled by a few people in the market. Of course, at a certain stage of mining, it is not impossible to rivet whether the price stability will become the world currency. You can print as many dollars as you want, but Bitcoin No, I think this is the basis for Bitcoin to become the world's currency.
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Is the hardware wallet also likely to be stolen, damaged, or infected with a virus? I think it is better to store it separately and store it in multiple wallets.
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Maybe something a bit more hardware related finally? I am not saying lets create a crypto watch where we all use watches etc type of hardcore stuff, but we already have physical stuff such as ledger nano wallets for example, I do not see a reason why something that is physical and digital combined finally being out becoming a bit more popular.
People always create low effort stuff and hope to get rich with it, and hope investors would give them millions of dollars for it, but that doesn't change the fact that time to time (very rarely) some idealists come out and do something that has been never done before and that could be with something physical this time around.
I hope to have a reliable wallet. Hardware wallets are easy to lose, and hot wallets are easy to be attacked. I want to have a cold wallet that can only be opened by myself. |
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Cryptos have had many crazes all over the years. First, it was Bitcoin appearance.
right after that, there were the altcoins and soon after the ICOs, IPOs and all the O's thingy craze. Afterwards the PoS and stacking craze came to play and then smart contracts came around then the DAO Blow. Then the Cexes, the Dexes and right after that, we saw NFTs rise along with the metaverse. (I'm probably missing something). Now we just had the Merge.
Many of these phases have helped the crypto market achieve new highs and led the blockchain technology to go mainstream.
A lot of developments have been a part of the industry growth, so my question here is, what do you guys think will be the next craze in the industry?
I think it will be DAO. In fact, there are really few meaningful economic models about DAO in the market. I think the next hot spot is DAO. |
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We know that the market is dynamic,as in it changes constantly,and as such,an investor who isn't careful enough to know when he is investing will fall in to heart problems or emotional trauma as a result of a massive fall in value,that is why it is important to condition your mind in a way that you won't get heart failure when you are at the loosing end.
Every investor knows there is risk in the game,and taking the risk is what shows you are ready to eradicate poverty from your life.
I think this is something that must be experienced. It is painful to think in this process and gain experience. Life is an experience. Our purpose is not to make money, but to gain experience and value in experience. Earning wealth is to go with the flow natural process. |
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Bitcoin is about to go through a bloody year. A number of unexpected events have prevented the Bitcoin market from ever moving upward this year. Dozens of unexpected events have struck fear into the minds of investors. Starting with investors, governments and central banks have taken a cautious stance on Bitcoin. So we are almost at the end of this unexpected year. Some Bloody Events 2022 & Funds Exploits- Mango Exploit : $114-115M
- Wintermute Hack: $160M
- Beanstalk Farm Hack: $180M
- Nomad Bridge Hack: $190M
- WormHole Hack: $320M
- Ronin Hack: $600M
- Voyager : $3.75b
- BlockFi: $4.5b
- Celsius: $4.5b
- Genesis Bankrupt: $5b
- 3AC implosions: $18b
- Luna/UST crashed: $40b
- FTX and Alameda Crashed: $40b+
The above shameful scam has completely negative impact on the Bitcoin market in 2022. We all hope that such incidents do not happen in cryptocurrencies in the coming years. It's really scary to see this, and I really hope that 2023 will be a good start. There are really too many events happening in 2022, and there are many not-so-good things. I am waiting for a more suitable entry opportunity. |
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Just how bad is the bear market right now?
Historically low prices have endured for a longer period of time in the present bear market cycle than in any other.
It may not be the worst time yet, I think there will be another event that completely destroys confidence, otherwise the market will not have the flexibility to go up. |
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So in conclusion: Bitcoin is the blanket cover for what cryptcucrency and digital currency stand for and only those that hold Bitcoin should be seen as the smart people, not those holding and gambling with shitcoins.
You can be right but many people don't just look for a long-term investment instead, they are looking for instant profit which sends them to investing shitcoins or hypes projects who promise them huge rewards. It is actually mind-changing, a huge offer could divert their minds and neglected to see the most reliable coin Bitcoin. I can't blame them either as it was their choice but for sure, they will realize their wrongdoings after suffering losses and then invest in Bitcoin. Long term profiting is much connected with bitcoin. The market hype with bitcoin too happens often, but most of the time those are traps. With cryptocurrency, we need to have the patience and the right investment strategy followed. Even now the distribution between users can be seen as the belief over cryptocurrency keeps getting stronger with time. I agree, Bitcoin had been proven that its market will give its investors a good profit in the long run. Even those who had entered on the peak price, Bitcoin often breaks the peak price a year after the halving so there is a chance for these peak price investors to even profit if they just hold their Bitcoins and wait for the market to rally to break the ATH again. Yes, those who invest in Bitcoin to make money are long-term holders, and the big cycle of Bitcoin is also suitable for long-term holding. It is difficult for people who have not gone through several bull-bear conversions to have such awareness. |
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Bitcoin is not a religion, these are two different things. Religion is a particular system of faith and worship of a supernatural power, in religion,there must be something you serve,why bitcoin is a digital currency and a valuable asset that can be acquired.
Believing in Bitcoin,is just like believing in an idol that can disappoint you at anytime or even when you need it the most. Bitcoin has brought financial freedom to the world and that was the purpose of its creation. Religion teaches us good morals and on how to live our lives in other not to be of bad eggs to the society.
Our common religions are divine, and they are groups with strong consensus. Bitcoin may also be defined as a special belief after it changes our life structure after obtaining a strong consensus. |
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To think more simply, bitcoin is just an investment, a store of assets as well as a means of payment, it serves our lives, we do not serve it as a god.
Bitcoin is not as godly as you think, you should remember that we didn't have bitcoin before and we still live well and everything is normal. But if you are religious, you know how important religion is.
Yes, money is the most important thing when you don’t have faith, and people around you are all about money first. After you have faith, you will find that the habitat of your soul is important to you. Bitcoin may be A religion but he will not take away our original belief, this religion may be a belief that will restructure our material life order. |
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I'd say the exchanges that currently remained to be unhacked are pretty "safe"; probably Binance and Coinbase. But that doesn't mean I'll recommend leaving funds on these platforms. The developers can make the platform as secure as possible, but never secure enough to the point that it's impossible to hack. Exploits will always be a risk. Not because these "unhacked" exchanges remained unhacked for years doesn't automatically mean it'll stay the same forever. https://NotYourKeys.org How do you explain these things to the people whom have entrusted their funds and assets to you for safe keeping hoping that what they gave to you is under safe care only to wake up to a sad news of their assets being stolen by hackers. How do you explain all these.
That's why you don't let other people entrust their funds to you. You have not much to gain but everything to lose. There will be no safe exchanges as long as they are centralized. Yes, there might be unchacked and still reliable centralized exchanges for now but I don’t think they will always stay safe in the long run. Just think of those centralized exchanges that have been previously hacked, who would have thought that they would end just like that. So as much as we can still safekeep our funds, then never entrust it to centralized exchanges but keep it in our hardware wallet for high level of security. But now decentralization cannot completely solve the problem of OTC, and the handling fee of Ethereum is too expensive, and other public chains have various problems, and the usage habits are not so easy to change. |
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If you are making this post in reference on what happened recently with FTX, First, I would want you to know that FTX was not hacked, rather the CEO mismanaged funds belonging to the investors and traders, the hack came much later after the exchange was already collapsing.
Now back to the general part of this discussion, the truth of the matter is that every centralized exchange out there is 100 percent safe(atleast, this is what they tell us) until they are hack or jam a rock, same way a criminal is a good citizen until he or she is caught red handed stealing.
Centralization is the same system the government uses, and it has never really favoured the ordinary citizens, centralization was not what Satoshi designed or desired for bitcoin or cryptocurrencies, but his absence in the space gave room for alot of changes and deviations from the plans he laid down on how get bitcoin and cryptocurrencies to mass adoption, the emergence of altcoins bright about the centralization in cryptocurrencies we experience today.
But then, it is good that everyone in the space is beginning to see the flaws in this system, and are beginning to realize that decentralization is the way, but another bothering question is How prepaid we are for decentralization?.
Only after centralization has experienced a catastrophe will people start to think and start to wake up. Centralization is only a transitional period now, and finally moving towards decentralization is the other side. There are still many twists and turns in the middle.At least one more centralization catastrophe is needed to make the process of decentralization more firm. |
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I was late selling FTX when the price was still expensive, which was above $ 20, at that time I was optimistic that FTX would recover because of Exchanges support that had a big reputation, unfortunately the price continued to fall and I lost and sold when the price of $ 5, and this was an important lesson that we had to Always observe developments in the market.
Not just markets but news on what affect markets. Because even if you won't believe the rumors, others will, and with option to leverage trades it can get pretty bad pretty fast. With rumors you also need to take account the reputation of the person who starts them. Fud can be price control attempt from anonymous source, but when it comes from main figure in the scene. You have to take it seriously. Because, even if you cut your losses and sell -25% loss. You will only lose that 25%. If the rumours end up to be true, you will lose everything. So risks on the latter one are just too much. Yes, a large part of the reason is the financial cycle. Even if this mine does not explode, other mines will explode, and this result is inevitable now. |
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It becomes very difficult when we experience economic recession, basic necessities, namely food increases significantly and we are very difficult to earn income so that many people become poor, this is what makes it very difficult to survive with minimal standard of living.
I don't feel that way now, so I can still live normally and not feel difficult and feel already poor because I am always grateful for what I have got so far through the work I do every day. And for other people I also don't know if they feel the same way as me or they find it difficult as you say. But what I see here in my surroundings is that there is no increase in the price of staple foods and no one is experiencing difficulties for any reason at this time. I feel very uncomfortable now, my income is reduced, my life is getting more and more stressful, it is hard to be happy, the coins in my wallet are also falling, I have closed my physical store, and I don't know when the economy will get better. I am hoping for your very best in your store and also in life. I know this recession is very huge and has affected us all. I don't know when this will end, but I will keep fighting. I know it is easy for me to say this, but trust me: try everything and keep fighting since you'll win in the end. We as consumers are also struggling, but we keep fighting because if we don't, we will end up losing and eventually lose the battle. I will definitely try my best to survive, but this time is really difficult. My family members have also been laid off by the company recently. Maybe next year will be better, because many people say that economic recovery will begin in 2024, and encryption will start to take off. |
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This means that we saw a lot of money put their money as a whole, the "business" worked as intended for many years, but then one day suddenly they just stopped and took our money and left. That’s the scary part and it could happen and that type of scam is horrible.
therefore, we don't need to put much trust in any exchange platform. never put your money there, especially if you are going to leave it for a long time. scams like this are scary. but with what's been going on, it's sure to be a rewarding experience for anyone putting their money into the exchange. be more careful with the assets we have. own assets by having the keys in our hands. Yes, it's true that saving our assets on the exchange may not be wise. Let alone putting everything on exchange for such a long time, really can't imagine how terrible it could be. Of course there have been a lot of frauds that have occurred, even though we are always vigilant and careful and store assets in our wallet with our own key. Even not just beginners but even advanced ones sometimes still fall into the traps of hackers. Hackers always have many ways to try to find loopholes to steal our assets. Yes, it’s very good, the exchange’s own authority is too great, they can issue USDT by themselves, retail investors will not find out, especially contract users, they are not crushed by the market but killed by the exchange. Very dark. |
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$0 because I only used the exchange on a few occasions and I don't leave any balance on the exchange, but I have some close friends who lost huge amounts in the FTX exchange hack and most of them are traders who leave their capital on the exchange.
I don't want to believe that FTX customers have lost their money already because a big exchange like FTX will have a reserve where their settle client's in time such as this
Maybe it’s a conspiracy? There are too many like your friend, and the centralized exchange is really too insecure. I have suffered losses in the exchange again and again, and retail investors can’t guarantee their basic rights at all. |
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My FTT, it's stuck. Although the exchange has no assets, it cannot recover the principal if it falls.
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It becomes very difficult when we experience economic recession, basic necessities, namely food increases significantly and we are very difficult to earn income so that many people become poor, this is what makes it very difficult to survive with minimal standard of living.
I don't feel that way now, so I can still live normally and not feel difficult and feel already poor because I am always grateful for what I have got so far through the work I do every day. And for other people I also don't know if they feel the same way as me or they find it difficult as you say. But what I see here in my surroundings is that there is no increase in the price of staple foods and no one is experiencing difficulties for any reason at this time. I feel very uncomfortable now, my income is reduced, my life is getting more and more stressful, it is hard to be happy, the coins in my wallet are also falling, I have closed my physical store, and I don't know when the economy will get better. |
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