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1161
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Economy / Trading Discussion / Re: Can Bitcoin trading be my sole source of income?
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on: May 07, 2023, 11:33:23 PM
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(....)
Is it safe for a Bitcoin trader to quit their jobs and focus solely on Bitcoin trading if they can devote their time and attention to maximize the benefits in the Bitcoin world?
I know a lot of people already doing trading full time and as far as I can see they are profitable. Another thing is I also saw a lot of people lost a lot on trading and they just ended up doing 8-5 fulltime jobs. In short, what I mean is trading fulltime is not for everybody. You can start to do trading part-time while you still have an 8-5 job. |
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1162
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Bitcoin / Bitcoin Discussion / Re: Bitcoin as a tool for the defenseless/debilitated to combat the most influential
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on: May 07, 2023, 11:02:35 PM
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The uptrend of what? On the price of Bitcoin? Because if yes, I don't agree with it, Bitcoin must be known and used regardless of its price. Keeping in mind that Bitcoin is not a solution to all financial problems is crucial, but in just some other way, it solves only *some*.
But I agree with countries that adopting Bitcoin because it will help Bitcoin also to be known to other people and will help the Bitcoin community to grow.
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1163
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Economy / Trading Discussion / Re: PRICE ACTION, TRADING + PATTERNS - Is there anywhere on this forum where..
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on: May 04, 2023, 02:26:53 AM
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You can use the search box to search specific topic you want then there you can try to post and there could be some members who will continue the discussion if they find it interesting. And or if the topic does not yet exist, you can create a new topic then on that topic, the discussion will start.
Because these days if you want a very active discussions, some are already using group chats or channels where it will be easy to do conversation/discussion with other trades.
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1164
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Economy / Trading Discussion / Re: I don't know if am right or wrong about this.
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on: May 03, 2023, 10:40:15 PM
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(....)
I don't want a situation whereby someone will say that I scammed him if there is a sudden dip in the crypto industry, so I just told him to open a binance account and verify it, after then, he should get back to me so I can send him the hard copy of the crypto course I bought.
Uptil now I still feel uncomfortable about it, I don't know if am wrong or right for opening up, even though I told him of the risk involved.
You don't need to feel sorry about it, you can guide him and always give him advice or caution about cryptocurrency. As long as you are giving him good advice then all good, but be careful also with your advice, tell him always it's not guaranteed and always remind him that he may lose his money when doing this especially it is about cryptocurrency trading. |
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1165
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Bitcoin / Bitcoin Discussion / Re: THE VIEW OF SOME PEOPLE OVER BITCOIN
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on: May 03, 2023, 10:26:36 PM
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Some people don't see Bitcoin as a normal currency and think it's too risky because its value can change a lot. They also worry that it's used by criminals for illegal activities like money laundering. However, other people think Bitcoin is amazing because it's different from traditional currencies and could change how we use money. Nobody knows for sure what will happen to Bitcoin in the future, but people are still talking about it and interested in it.
They both are right from their own point of view. Bitcoin price is volatile and the price up and down quickly compared to other currency. So it is fair enough to tag bitcoin as risky. But if you believe the technology and future bitcoin is above the risk it posses. We must be like this because no one knows what will be the future of Bitcoin. And we can't control someone's own opinion because that's what they can see. People's perspectives on Bitcoin are influenced by a variety of things, such as their knowledge of technology, economics, and finance. |
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1166
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Bitcoin / Bitcoin Discussion / Re: Do you remember this episode of Simpsons?
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on: May 03, 2023, 02:42:51 AM
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although I don't like and believe in predictions. but I've read news on social media regarding some of the unique facts of Simpson's predictions that are said to be accurate in the past.
(...)
I think these predictions are fine for me, it's ok to believe in it and it's ok not to believe in it. That's why it's called "prediction" because no one will know the future. If these Simpsons episodes are really real that were created before the real prediction happened, then I believe it's only pure coincidence sometimes. |
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1167
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Bitcoin / Bitcoin Discussion / Re: The major role of cryptocurrency in promoting financial inclusion.
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on: May 03, 2023, 02:29:57 AM
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(....)
I cannot compare bitcoin with fiat's currency because without fiat currency bitcoin will not have been supportive.
(....)
In short, they work different ways because. That's why I really don't see any good comparison between Bitcoin and fiat, it doesn't mean they are just both can be used as payment methods for something it does not mean they already work the same. So for me, I am against those people who are telling "Bitcoin will replace fiat currency" because I believe fiat currency will stay just like Bitcoin will stay. |
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1168
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Economy / Trading Discussion / Re: What's your most preferred Bitcoin investment strategy right now?
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on: May 01, 2023, 11:57:05 PM
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1. Stacking Sats':
This is in short a nick name which in English term would refer to "accumulating Bitcoin". While 'sats' would mean Satoshi, as the smallest unit of Bitcoin, stacking would simply imply heaping or storing up.
With both words combined to give the synonym for dollar cost averaging Bitcoin, it suffices to say that this is purchasing small amounts of BTC on a regular basis over a duration one chooses.
2. HODL :
Hold on for dear life!
As of 2013, the term HODL first came on to the scene in a Bitcoin talk forum when a frustrated trader under the username GameKyuubi was letting his bottle of whiskey do the talking and posted the now infamous thread “I AM HODLING”.
(....)
I'll go with these both because if you do both, in the long term you will end up with a lot of Bitcoins, and possibly have profits just in case Bitcoin will pump along the way until the long term. When doing, this is tough because you will experience high volatility along the way and it may affect your emotion to apply these two ways. |
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1169
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Economy / Trading Discussion / Re: Know it that market is speculative
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on: May 01, 2023, 11:54:37 PM
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For example when the price of btc is $28,000, someone is speculating it further to buy to $29,500 and another can speculate it to sell to $26,000. So depending on your chart and analysis, that determines your winning strength if you speculate rightly. Trading is speculative based on your technical analysis, indicators and fundamentals (......)
This is somehow how trading works. That's why there are no people or entities that are 100% winners in trade, and that's why there are people sometimes who lost their money on trading or some are gaining huge profits through their trading profits. That's why the risk management is extremely important when you are trading because, the more you preserve your capital, the longer you will stay in trading. |
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1170
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Economy / Trading Discussion / Re: Staking really great way in crypto wealth
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on: May 01, 2023, 11:47:39 PM
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Staking when price fall you just buy more and put in to staking once price goes up you don't need to sell it you continue to staking so after u earn more.
(....)
For those with the required technical expertise and a long-term investment horizon, cryptocurrency staking can be an effective and secure investment strategy. It's crucial to understand the risks, though. Risks here just for example the value de-pegging of stablecoins or hacks on centralized platforms that offer staking just like centralized exchanges which is common for me. |
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1171
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Economy / Speculation / Re: FTX recovered $7.3B in Assets and is considering restarting!
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on: May 01, 2023, 11:25:09 PM
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There has been a very positive impact on FTX's planned return to the industry, but surely who would have so much faith in their reputation the second time around? There must be a lot of people asking, what if they were planning an even bigger scam that would make this industry crash even harder than before. I would doubt them, a lot of people would doubt it, but the positive thing is about people getting their money back.
I wouldn't put them as one of the platforms I would trust for any amount of money if they came back, it just puts me at risk because their past track record is too dismal. But who knows, they might still improve their reputation and compete to be first.
it's matter of whether they gonna fall in the hands of new management I guess, even then i'm sure the new management will somehow reach out to the former management, I think you have good point, their reputation is just too tainted at this point that at every of their move will instead trigger massive suspicions, there's also chance as you said that they are planning an even bigger exit but i'm sure everyone gonna be watching this company constantly and sees if there's anything strange, hopefully though the people that deserve reimbursement and refund gonna get what they deserve that the first priorities right now. The story with FTX is very unclear. So far there is no news on how they are going to rebuild the exchange and how they are going to return users' funds. All there is at the moment is just news that they are going to pay out money and FTT's token pumping has happened. I don't care if they restart the exchange, as I've never used it, and given what happened, it's not even worth my consideration. And you are right, their story is not clear, they keep making announcements about asset recovery and plan to restart the company, but they never mentioned when they would return the money for their victims. (....) You must just be happy and appreciate it because a lot of people lost their hard-earned money on this exchange and you need also to consider that the incident that happened on FTX Exchange last year caused a huge dump on the entire cryptocurrency market and the reputation of cryptocurrency market affected due to this. Just think if these are all true, funds are all back then for sure it will be extremely bullish news in the entire cryptocurrency market. |
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1172
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Alternate cryptocurrencies / Altcoin Discussion / Re: zkSync Era Airdrop Guide
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on: April 29, 2023, 09:24:40 AM
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Use these protocols to swap and do some LP'ing to get your total volume and usage in the network up. When I was playing around Arbitrum, I had my total volume to a tad more than 10k USD in a couple of months or so without realizing it. I didn't even think Arbitrum would really have an airdrop. I felt I just got lucky. So if you wanna get lucky with zkSync and be eligible for their airdrop, you have to use the project and the protocols developed in it.
(....)
Do you think the criteria that were worked on Arbitrum Token will also work on other chains too like zkSync? Because it seems become overrated now and/or maybe a lot of people will abuse it, which somehow on Arbitrum there were a lot of wallets that got airdropped was suspected abusing after the airdrop already even though they have this "Sybil detection" (to identify abusers). |
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1173
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Bitcoin / Bitcoin Discussion / Re: Why gambling and mixing called bad actors in bitcoin
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on: April 29, 2023, 09:18:32 AM
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(....)
Secondly, if Gambling and Bitcoin mixing services are called bad actors, what about centralized exchanges are they also perceived as bad actors in Bitcoin?
Basically, they are linked to practices that may be against the law(not all), unethical, or detrimental to the larger community. If you can lookup on the internet about incidents related to these "bad actors", you will see tons of them and that's why a lot of people are against it. They are undesirable due to their links to illicit activity and potential legal and reputational risks. |
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1174
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Bitcoin / Bitcoin Discussion / Re: History revisited: the first Bitcoin conference 2011
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on: April 29, 2023, 09:08:01 AM
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Or maybe not? Maybe there is someone from those attendees who kept his bitcoin not on the exchange. Or probably forget about his wallet and eventually get rich in the next coming years.
I'm going to bet that most of them didn't(with at least majority of their holdings, probably a minority on exchanges). Let's not forget that these people are cypherpunks — pretty much one of the most hardcore technically-literate people in the crypto space. Exactly. These guys are OGs and too many technical persons to be able to identify the risks of exchanges before. For sure they just did it just to help the Bitcoin community back then because the community before is still really small and this method will help to grow the Bitcoin community before. It's just sad because it was sponsored by an exchange who was REKT which this conference will exist in history. This will be lesson for all. |
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1176
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Bitcoin / Bitcoin Discussion / Re: Binance sees a large uptick in the amount of BTC held on their exchange
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on: April 29, 2023, 03:58:19 AM
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(....)
I think a lot of folks are still dismayed with all of the current scams casting a shadow on their confidence of crypto. I think things will turn around with time. They are calling for more regulations, which could be both good and bad for us. What are your thoughts on this?
Of course, with all these regulations or any incidents related to FTX Exchange, are important right now in the cryptocurrency market. We must look closer on it because it will help the Bitcoin adoption, because I believe that in short term, the effect of these may be a huge but in the long run, you will not feel it. A lot of FUD spreading right now especially on exchanges. Challeng on exchanges right now are how they will gain trust of a lot of people after incidents of lot of centralized exchanges recently. |
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1177
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Bitcoin / Bitcoin Discussion / Re: What went wrong with bitcoin! Reply
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on: April 29, 2023, 03:53:56 AM
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(....)
The argument ends but I want to draw this lesson to everyone;
1. When introducing crypto to anyone let them know you're not responsible for anything contrary.
2. Tell them you don't control the price, the system does.
3. You're not liable to any losses
(....)
This is why when someone asking on me about Bitcoin, I just give them a brief explanation of how Bitcoin works because a lot of people always misunderstood what meaning of Bitcoin or how it works. This is a normal encounter when you do it with new people. Because most of these people see on internet especially social media are good sides, like easy money, profits on investing/trading, etc. |
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1178
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Economy / Trading Discussion / Re: Beginner mistakes and how to avoid them
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on: April 27, 2023, 02:30:17 AM
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(....)
* Failure to use stop-loss-- to me it's the most important thing I do while trading, an it's always close to my entry price, I do it that way so that if the trade didn't go as planned, I won't lose more than 10% of my margin.
I don't if anyone have more to add, so I can also learn?
I can relate to this during my early days in trading. I already realized it very late before. The feeling is really different when you start trading especially you're new to it. So, it must be always for beginners to have knowledge first or learn every basic first before opening their first trade because there is already money involved here. |
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1179
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Economy / Trading Discussion / Re: Why trading Crypto (instead of Forex)
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on: April 27, 2023, 01:37:23 AM
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Sometimes, data isn't necessarily an advantage if everyone has access to the same data. Advantages arise when you have certain good metrics/data base your decisions upon that not everyone follows.
I think if we have a scenario like this, then it will be now based on how these data are being used or analyzed by different people. For me, using data properly based on your goals or use case then your trading decisions can be improved by having a better understanding of the underlying demand for a particular cryptocurrency. |
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1180
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Alternate cryptocurrencies / Altcoin Discussion / Re: How to avoid a scam project?
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on: April 27, 2023, 01:32:57 AM
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(....)
How can we identify it well? Perhaps we should have more discussion about it so we all can learn from everyone's experience.
Before making an investment in any cryptocurrency project, do your homework and research carefully. Always verify. Any cryptocurrency forums or social media will help you, like there is some community where you can ask about a particular project, just like on this forum. Be wary of unsolicited messages, and claims of high returns. These safety measures will help you stay safe from cryptocurrency scams. |
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