My biggest mistakes are the coins I thought were going to continue going up in price and I never took my profit only to discover them fall the next moment.
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I understand where you are coming from and you are not alone on this. Many people no longer trust ICOs because of the terrible experiences they had. Even tho due diligence is necessary when investing in ICOs it doesn't totally eliminate the inherent risks, you can still fall victim to a scam ICO even when you've thought you've done all the necessary check.
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My heart goes out to him, I'm sure if I were him I'm never going to recover from the terrible experience all my life knowing how much that amount of Bitcoin currently worth. It is something he will live with.
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I think many of such people lack the knowledge about bitcoin and don't wish to understand how it works. Bitcoin doesn't promise any monthly or weekly return on investment as most Ponzi schemes do, instead those who invest in Bitcoin have to decide when to sell that will profitable and that's the only way to make money from Bitcoin. So the two are not related in anyway.
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I think that place is where the gem are hidden. Most coins below top 100 most times have more probability of turning huge profit than those in top 100 but you can never be too sure.
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Yes, I learnt the hard way, as a trader you should make use of the stop loss in all of your trades. That way you don't lose significant amount in the case the coin falls below your buy price.
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You are right after holding some coins you make huge profits from them, then they are those that are not worth holding you will only end up holding coins that its value will keep depreciating. So why they are those that are worth holding, the are those that are better off sold than kept.
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It's possible to make a living from bounties but on the other hand quiting your job only to focus on bounties is unrealistic if you ask me except the job is not worth it in the first place. Most bounties last for a long time and take more weeks to months after ICO to pay bounty hunters and then they are those that never pay at the end. You have to weighthe positive and negative and if you can combine the two, I'd suggest you do bounties in your spare time.
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It's not mainly because of abusers but most ICOs are now allocating small amount for bounty and it's not out of place that participants have also grown within this period so generally bounty profits have also reduced.
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I disagree, they are those who participate in the private sale that dump their tokens once they receive them. Bounty hunters in the other hand have to wait for weeks to months after ICO to receive their token and by then the price would already have fallen down.
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I believe many ICOs are finding it difficult to reach their soft cap which leads them to prolonging their pre sale and Crowdsale period and it affects the bounty period too.
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It is a yes or no scenerio, we have seen many altcoin that fell below their ICO price surge and rise way above the ICO price after some time on the other hand, they are those that fell and haven't found their way up yet.
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day by day btc becomes more centralized as there are just some mining companies that want to become the monopol in mining or claim that they own some true companies which will make it centralized one way or another.
You are correct, bitcoin mining is becoming a problem than a solution. If care is not taken we might finally experience a 51% if these pools become selfish.
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Patience indeed is really needed to become a successful investors because at times when the market is moving either in your favour or against, if you are not patient enough you might get overwhelmed and end up selling too early maybe to avoid more loss when you could have waited and make more profit.
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It takes time to learn technical analysis, I don't think that many people make their trading moves by technical analysis, they just follow chart and take decision by intuition. In cryptocurrency, technical analysis doesn't often work.
You are right, technical analysis takes a lot of time and dedication to understand so most people choose the easier road and just follow their intuition I not exempted.
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Try to use stop loss the next time if you trade short positions. If you trade for long, then keep your coins, the market will necessarily grow.
This is a great advice, as a beginner I didn't think much about stop loss but after this current market state I have come to realise how beneficial it would have been to me if I have used stop loss in all my trades.
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if you have too much patience with some projects you can lose everything though. Don't let the patience blind you, sometimes it is good to sell early than to regret your decision later. The fact is that you always need to follow the market in order to make a smart decision.
This is what many investors tend to forget, everybody keep saying hodl, be patient but forgetting that all these are mere hopes and there is no guarantee that the coin will go up. They are a lot of coins that are have been below their ICO price with no sign of them ever reaching the ICO price not to talk of getting higher than that.
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I haven't been able to understand the rationale behind the price effect of bitcoin on other cryptocurrencies. But I believe one of the reasons is that since the altcoins trade against Bitcoin, every price movement of Bitcoin will indirectly affect altcoins movement too.
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No. In my opinion, if you have invested in coin, that means you have confidence in its development. I don't think we have to panic when the market fluctuates happens. I have experienced this situation many times, I was panicked, but I realized I still lose money after selling. The market will always recover after the storm.
The sad reality is when such a project you have have had high hopes on start to plummet, it's usually discouraging non the less but as you have said, one should exercise patience.
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You just have to apply due diligence whenever you're visiting websites, some may look like the real address but it really isn't. And be care of ads you click and the programs you download and much as it takes keep your wallet keys offline.
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