You should know at least the basic knowledge of trading. Preferably, one should have at least any background from an economics in order to understand the market better as compared to the ones who does not have. Though it is not required for one to have such background, it is preferred as it may result to better results and for risk avoidance. But the primary factor here to consider is the experience of the trader on his field since it hones their talent and skills through the years of working on the actual scenario.
I have some friends who do not have any background with a business/economics degree but they earn large amounts of cash and are also experts on their field.

Generally, banks want to eliminate bitcoin as they see it as a threat to their system. They believe that they must remove it before it removes them! Due to bitcoin being free from any government control and people are utilising it as an alternative currency, banks are somehow reluctant that it may become so large that people would start choosing it over them! Remember, banks are also controlled by most philanthropist and they consider it as business. Who would not want to eliminate other threats that may disrupt their earnings?

Source: https://www.forbes.com/sites/panosmourdoukoutas/2017/09/14/why-big-banks-attacked-bitcoin/#91b8c236c534

This actually depends on your financial resources if you have the means to mine bitcoins. Be reminded that in order to mine, you need to have a starting capital and a big amount of investment into equipments as those equipments are expensive. Personally, I prefer buying bitcoins as you just wait time until you mature the price of it unlike mining, there are a lot of competitors out there in the market. But if you have the means of buying the equipment then why not?

Congratulations for ranking-up due to your hard work! The beginning is always the hardest on this adventure but all efforts paid-off in the end! Well your journey towards ranking-up are just getting started and you must continue what you are doing to achieve great heights. I remembered that people criticized the implementation of the merit system as they find it prejudicial and bias to the existing accounts. Well my only comment was they were too fixated on the simple way of ranking-up. Making trash/meaningless posts which makes detriments the reputation of this forum.
Nevertheless, just continue what you are doing and be the living example that people should look-up to. Cheers!

I totally agree with you on this.
Before anyone becomes a parent, one must first know all the responsibilities he/she has to commit. All of your bad habits, your lazy attitude and other relevant stuff should be changed once someone becomes a parent. The responsibility that you have to commit is greater than anything else, since you are building the most basic unit of society- which is a family. Relatively, people who typically gamble and become a parent afterwards change their ways due to the magnitude of responsibilities. But this also poses a danger to them as there exist this tendency for them to go back to their old ways.

There things that you need to consider when comparing the two investment mechanisms. Allow me to shed some knowledge to you:
Firstly, stocks are an investment alternative wherein you acquire shares from a company relative to their sales and success. You may either profit from the shares of stocks when each share increases their price or lose money when the shares lose value. Be also reminded that stocks are regulated by the government through the Securities and Exchange Commission (SEC) which prevents companies from abuse and manipulation of prices.

On the other hand, cryptocurrencies are generally something that is very volatile in price- wherein the price of one bitcoin (or any altcoin) today might be higher/lower compared tomorrow. Its high volatility makes it an investors favorite in terms of short-term gain by taking advantage of the said nature. Be reminded also that no government entity regulates bitcoin. Due to this, some countries have banned and prohibit the utilisation of such (subject to the laws of your country).

Now the question is, what is the preferred choice?
The answer is- it depends on your financial capacity and status as an investor. If you have the sufficient capital, then you might want to invest into cryptocurrencies and hope that its price increases. In order to lower the risk, one must be updated about the recent news and updates regarding crypto because it is very controversial among large trading companies. For stocks, typically people invest into these for long-term gains. There is also the presence of a collateral which makes it safer compared to bitcoin.  
Personally, you might want to diversify your investments by investing into both stocks and bitcoins for profit maximisation.

I remember like 3-4 weeks ago prices went down to around $6500-$6800 and people were hysterical. Based from that experience, I observed that most people that invested into bitcoin are not knowledgeable about its natural tendencies in the market. Volatility in the price is something that happens naturally in the market due to having no regulation at all.
You are definitely right that holding your investments may give you the opportunity to sell them at a higher price given the right time. Though it also depends on your goal but I prefer selling my coins on a price which is higher from the price that I acquired them to maximise my profits and lower the risks of losing all.

Rich people tend to gamble due to entertainment purposes while poor people tend to gamble due to the mindset that it may alleviate them from their situation. Consider the two sides, rich people already have the necessary and sufficient resources to gamble while the poor risks their money more believing that the risk might be in their favor. Relatively, you are indeed correct and the article also suggests that the poor gambles more as compared to the rich. This may be relative to what they are earning since poor people tend to gamble everything while the rich may only gamble the money that they are willing to lose.

This depends on your knowledge about trading and your attitude on how you handle losses and winnings. Trading is actually worth-it but it requires extreme amount of patience, resilience and time especially when you are faced in a situation wherein losing money is the only option. Also, trading can be profitable but it requires at least a starting capital in order for someone to utilise trading. I know someone who earns large amounts of cash WEEKLY due to trading but the amount that he risks are also large.

It is possible but highly unlikely due to its existence already bringing positive impact to the society.
Though it may be relative, some countries are exhausting its nature in order to provide the society an alternative means of earning income in a short-amount of time as compared to other investment mechanisms. The reason on why it is possible mainly focuses on the government's capacity as the controlling body of the state. If the government has declared the prohibition of bitcoin on their country, expect bitcoin prices to significantly decrease (i.e. China has banned malicious ICO companies, SK has imposed strict rules and regulations, etc.).

The question is, what if all influential countries that contain large market and trading industries have announced that they will prohibit bitcoin among its transactions? Expect prices to decrease and decrease until it becomes obsolete to the system.

I do not think you know the system on how 'taxes' work. First of all, the government has three (3) powers which are:
1) Police power;
2) Eminent Domain; and
3) Imposition of taxes.

The reason on why the government collects taxes from products/services as it provides the people the benefits from the country. The collection of taxes is also their method on earning revenue for the country's development of infrastructure and other related matters. Through taxes, they acquire funds to be utilised by different departments and bureaus for their function to worked. All of these mechanisms work under the funding provided by tax-payers and in return, we receive various benefits from time-to-time.
The problem exists when these officials from the government misuse the funds for their own use/purpose; which then corruption occurs from the government.

new inn
The imposition of taxes are paramount for the function of every government agency as this provides funding in order for their mission to be utilised. When no taxes are collected, the government has no revenue/money to spend for the development of infrastructures or creation of innovations towards the future.

Well learning from the history, bitcoin was used as an avenue/gateway towards acquiring illegal goods under the dark web due to its decentralised nature- which cannot be regulated and controlled by the government. Due to this, crime rates increased and drug cartels became prominent in the society. Though this is only one aspect of it, another problem brought about its decentralised nature is the imposition of taxes. Since the government cannot impose tax on something that they cannot regulate/control, this leads to other countries prohibiting/banning its utilisation on the market.

Sometimes, being positive is what keeps us from continuing since it provides false hope (debatable) thus making your situation a lot worse. Even if people where to decide based on their feelings, then expect the outcome to be biased and inaccurate. Same with gambling, when people tend to let their feelings control over their decisions instead of thinking rationally, it would only result to their downfall.


Even if someone were to think positive about gambling, it only helps mentally and emotionally. It is immaterial for someone to relate their feelings since gambling revolves around luck and odds. That is why gambling can never be profitable in the LONG RUN especially when you lack the discipline on your bets.

Thanks for explaining about this one. Generally, people who invested into bitcoin are the ones who are not knowledgeable about its nature and process. They just invested due to the media hyping bitcoin and providing a positive light to it. In reality, bitcoin's volatility is a normal occurrence and phenomenon, as its price may change from seconds.
Personally, investing into bitcoin whether for short/long-term depends on the financial status and need of an individual. The returns on the investment typically depend on its situation on the market, especially when you consider latest news and updates. I have seen people realize profits due to investing short-term but the situation is hypothetical and rare.

Both have their advantages and disadvantages in terms of acquiring profit and time. Here are some of my opinions regarding the two options:

For Bitcoin:

ADVANTAGES:

• Bitcoin has the potential of yielding large amounts of profits in a short amount of time;
• Acquiring bitcoin is relatively easier than investing into stocks due to the presence of stock brokers;
• Due to bitcoin's high volatility, this type of mechanism makes it a 'high-risk, high-reward' system;
• A decentralised form of currency cannot be regulated, thus bitcoin is tax-free (relatively and debatable);
• There are only a limited amount of bitcoins in the market, making its price dependable on the law of demand and supply; and
• Bitcoin has been used as an alternative currency into some aspects as some services can be paid via this currency.

DISADVANTAGES:

• Lack of collateral and security hinders most investors from risking their resources;
• Due to its high volatility, it is considered as a double-edged sword among the investors;
• Its limited supply in the market may be potentially abused by whales by manipulating the price; and
• Some countries have implemented laws which are prejudicial to bitcoin's existence. This may pose a problem in the future if further laws will be created prohibiting the use of such currency.

For stocks:

ADVANTAGES:

• Investment gains may increase your investments over-time depending on the company where you invested it on;
• It is controlled and regulated by the Securities and Exchange Commission, thus abuses and conspiracies among corporations are rare and enforceable by law;
• Other corporations have collateral and security among your investments which makes it relatively safer among other investment mechanisms;
• Some stocks offer dividends to its shareholders; and
• There exists a broad spectrum of choices on where you can acquire shares of stocks into different corporations.

DISADVANTAGES

• Investing into a stock market is more of a long-term rather than a short-term goal since the realization of profits may take a while;
• There is always the potential of the corporation losing its value in the long-run. That is why some people invest into blue-chip companies for safer security; and
• Before you invest into a company, you are required to do research and background checks in order to maximise your profits!

It is very hard to impose tax on something that cannot be regulated. Thus, bitcoin being a decentralised type of currency falls into that category but this still depends on the laws of the country that you are staying. If the government creates a law or amends a current law prejudicial to bitcoin's existence, they it may be taxable. As of the amount, I also doubt that they may be able to trace it, considering that you receive your bitcoins on a separate wallet.


I agree. Every country has their specific view regarding cryptocurrencies. As for Japan, they see it as an asset and as something that can be beneficial to the public whereas for Malaysia, their government warned about transacting cryptocurrencies since it involves some shenanigans that may cause your investments to be stolen. This all varies depending on the country that you are staying but I personally vote that campaign signatures should not be taxable.

I think they would still classify it as a commodity rather than a national currency. For a currency to be recognized as a 'currency' other countries must accept its existence on the market. Considering that only two (2) adapt bitcoin as a currency in their country, I doubt that other countries would see it also as a currency. Be reminded that there exists a huge margin between developed, developing, and underdeveloped countries in terms of economic and technological standards. If an underdeveloped country cannot embrace the implementation of a digitalised currency, then this may potentially pose a threat to their market.


I doubt that their hegemonic status would validate that declaration considering that other countries must also embrace its implementation. The US might see bitcoin as an alternative currency rather than a foreign currency but it also depends on the laws of their country regarding cryptocurrencies.

It may be considered as a disease in the mental aspect of the individual. Once someone gets addicted to gambling, their mental and emotional health deteriorates slowly. This poses a problem when they formulate ideas and this also affects their decision making skills making them indecisive at some point. Compared to any other addiction, I see it more as a problem than a disease. But when their addiction takes-over their mental capacity, then we may also consider it as a disease.


The cure for an addiction is self-control and rehabilitation. Intervention of third-parties are necessary in order for the well-being of the individual may soon recover. But if they still continue their vices despite support from professionals, expect them to contribute to crime rates in the near-future.

Self-control is the KEY in order not to lose all of your resources in one single go. Also, one must establish a threshold regarding the maximum number of losses that he/she can bear to lose in a single night. Once an individual has full-control of the said factors, then he/she would be able to mitigate the damages and at least maximise his winnings. But again, you are dealing with a series of risks which the odds are not always at your favor. That is why gambling can never be profitable in the long-run.

I beg to disagree. With that kind of pessimistic attitude, then losing all of your investments would be the next thing that would happen. It is relatively true that bitcoin prices are directly proportional to altcoins prices in the market but you have to consider some factors also (i.e. some altcoins are regaining/increasing their value due to bitcoin's fall). Not to mention, rather than complaining about the fall of bitcoin, take this as an opportunity to acquire more coins for short-term investments. Like what I said, that kind of mindset would get you nowhere.


I see this technique as the 'happy-go-lucky' kind of attitude. Remember that we are dealing with thousands/millions of dollars on investments. Even the smallest increase/decrease in the price margin would mean thousands of dollars wasted. But if you treat your investments as the money that you are willing to lose, then I suggest that you just let time do its trick!