Hello everyone,
I’ve lately been trying alot of different ways to start making money but something in me tells me trading could be really fun and exciting to get into. Unfortunately I can’t afford to invest much right now so I’ve managed to invest around 20$ to get started. I’d really appreciate if you all could let me know if what i am doing is worth it or am I just wasting time?
Kind regards,
Human
For me I don't see it as a waste of time, you are already earning from it maybe not a profit but from the knowledge and experience that you are accumulating while doing it. If you're learning from what you've been doing while trading $20 then it isn't a waste of time, think of it as a preparation for a bigger game. |
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Good thing about Bitcoin is that there is no way for others to prove that it is ours unless we also say it and show then the wallet to access it.
But if we won't then how would they know? how would they prove it? we could just use another person that we truly trust to open it and say that it is their investment.
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I also plan to make some big investment before the halving the problem is that I still couldn't save enough money to accumulate my target, that is why I decided to start small instead of forcing myself to save up and wait till I reach my target to invest in crypto.
Right now I have some small investment in alt-coins that I am trading to earn more from my capital and reinvesting it.
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If we're talking about anonymity and decentralization and being used as a currency then yes, those ideas are really dying.
KYC and centralized platform not to mention that cryptocurrency are only being seen and used as an investment tool are the main factor why those ideas are dying, but we couldn't really blame them, people would use centralized platform and do the KYC to secure their money and with the price being volatile people would use that opportunity to earn.
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I have understood what centralized and decentralized systems are and I know that banks are centralized with physical locations/attributes, with strict monetary policies governing it. While decentralized system is the crypto currency or the Blockchain technology which is the where Bitcoin is built on.
Both have helped to solve human financial problems in one way or the other, depending on the means which one earns from.
Ignoring all other features I could talk about and with my focus on loans schemes, I want to ask if as banks offer loans to individuals, companies even to the government, does Bitcoin or any other cryptocurrencies or exchange offer loan service?
If yes, what is some criteria that may be required?
I don't think that there is a crypto that offer loan service, but there are some people who does that in crypto they offer loan in form of crypto currency. The criteria or requirement would be up to them, but I don't really see why people would want to do it if they need money why not loan Fiat in order to avoid fees? The only way that I think they would benefit from it (people who would take the loan) is when they use it to trade and then pay it back when the price drops down but we doesn't know when would it really happen and how long would it take. |
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One of my close friends his name is Naher. He came to visit my house. Once while discussing with him, I mentioned the name of bitcoin. He wanted to know what bitcoin is? I was telling him that bitcoin is a digital cryptocurrency coin launched in 2009 by a man named satoshi. I tell him Bitcoin has been around for 14 years. I give him more idea about Bitcoin. At one point he expressed his interest in investing in bitcoin, I told him that there is a possibility of not only profit but also loss from investment.To invest you have to take risk. My friend invests in bitcoin knowing profit loss. He works for a salary of about $400 per month. He invested about $500 in Bitcoins. I didn't show my friend interest in investing in bitcoin. He himself knowingly invested in bitcoin.
Did I give my friend the right advice?
You mention how things could work out, that investing could give him a profit or a loss so you just opened a door for him, it is his own choice if he would go in or walk away from it. The best thing that you could do now is to guide him on how to manage his investment. |
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Honestly speaking I was once a full time crypto earner but being in crypto for a long run you would realize a lot of things.
The price of crypto could move in a fast phase that also means your whole life is at risk.
If you couldn't find a good source of income in crypto your investment alone would sink along with your expenses.
That is why it is better to make it as a side hustle than to make it your full time.
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Let's just be honest nothing in this world could guarantee you that you could get rich.
Investment, business and even work those three that could make you earn money doesn't really guarantee to make you rich.
Investment and business have their risk while working let's just say that not all job could make you earn well.
And if you want to be rich it all comes down on how you mange your time and money, you can't aim to be rich or wealthy while earning only enough to survive while spending like a millionaire.
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Nobody bitcoin price prediction has work this season, I told my friends early January that this year will still be difficult for bitcoin to rise since they're still blocks on digestive and ingestive policies of government, why bitcoin should not stay by government. But they argued me to a fault but I knew bitcoin will not gets to $40k this year. The price will definitely rise but not at the moment. Do you predict the price to any level year?
I'm not sure who's predictions you have read and where, but if we presume that 4 year cycle is intact, 2023 is 2019 in the previous cycle. As we know, 2019 was mostly flat with a tiny spike in summer and price dropping a bit in Q4. So we can't really expect any parabolic growth or ATH this year. Next year, year of the halving looks much more promising. Well if we would base it on how the cycle has been in the past then this is the best time to catch up cheap Bitcoin. But for those who would invest now there is no guarantee that it would still be the same just like how it was in the past, don't be too greedy and invest only what you could afford to lose. |
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~snip~
Gambling should be your choice, you shouldn't let anyone compel or persuade you into it.
Everything you do is your choice, no one could persuade you if you don't want to do it. You could blame others but we all know that it was you who made it on your own. Most of the time people are driven by their greed that would lead to their missery and for them to feel a bit better they tend to take it out on others or blame others for it. |
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Nah it isn't the first time that BTC fee skyrocket, but somehow if you badly needs to convert crypto into Fiat then yes try to use alt-coin for faster and cheaper transaction.
But I would disagree with you OP just because the Trans fee is high doesn't mean that it's useless.
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For me if you couldn't afford it then don't buy it, if you don't need it don't buy it.
Most of us are in debt because of things that they want they would borrow money just to have it and there are some who also borrows money to celebrate.
Just be contented with what you have and spend your hard earned money wisely, try to invest avoid unnecessary expenses.
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How useful is investment/savings to the youth?
This is exactly what your question is, for me it is good to start your career as early as possible, make mistakes as early as possible too in order to learn from them.
People just need to get interested in something in order to dig deeper, and that is how most of the young crypto earners starts their journey because of their interest in it.
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It's great to start early but lets be honest we all know that at those age kids just want to have fun playing.
We all know about saving up money at an early age but most of us didn't even bother to do it we buy what we want it's just the same for those kids,
we could introduce it to them but only those who are interested would really get into it.
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Bitcoin network has been under attack and the results has been very high transaction fees which has made many people who use it for transactions to use alternatives. This is challenging to the vision of Satoshi when he created Bitcoin for use also as currency as many people will criticize the network as unfit for transactions if accepted for use and everyone starts to use it. There is no way that Satoshi is not aware of the current situation if still alive, do you think what is happening right now is enough to draw Satoshi out to still make some changes or improvemens annonymously?
First of it is not the first time that the transaction fee for Bitcoin has been expensive or high, second what would Satoshi do? the creator has been silent for so long even in the past controversy so why would the creator show up now just because of the transaction fee? And we could use alternative coins that is why they had been created for events or circumstances like this (only my opinion) those alt-coins are there because Bitcoin doesn't have it all. |
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If you have a regular income you should really start to save up as much as you could to secure your future, specially for those who works and wants to retire at an early age.
Save up and invest any amount each time you get your salary so that you would have an extra income and funds for your future.
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As we all know lately, lots of people are transacting BTC and causing traffic jams because of the many queues for BTC transactions, and BTC transaction fees are expensive if you want to be fast.
And I, as a btc investor who is still a beginner, in my opinion, with expensive btc transaction fees, I see this as a positive thing because I have the following reasons.
1: having expensive btc transaction fees makes me stronger to hold on to btc because I don't want to waste my money on expensive transaction fees.
2: my goal of investing in btc is for a long term investment so with expensive transaction fees
makes me stronger holding btc, because my goal is to invest in btc for the long term.
i want to hear your opinion,,,
and are you freaking out about the high btc transaction fees...?
but in my opinion if transacting btc it would be better to use a cheap transaction method.
Well I could somehow relate to this whenever the transaction fee for Bitcoin is high, I would rather hold it than to send them out or use them. But if my Bitcoin is already at a trading site I could alwasy use alt-coin for faster transaction and lower fee. But for those who are really in need for cash and their Bitcoin is on their wallet they don't really have a choice but to pay the right price for their transaction, I once set up a lower transaction fee just to save money and it end up taking weeks just to confirm. |
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Most people tend to ignore it in order to earn, I used to question those people who still goes to work even though they aren't feeling well and as time goes by I realized that not everyone has the privilege of skipping work to rest.
Some of us needs to attend our work even if we're not feeling well cause we are just earning enough money to survive to pay bills and put food on our table.
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I have a friend who also did the samething, actually it feels nice and somehow proud to wear a t-shirt with a cryptocurrency logo since other could recognize it, and there are times that some stranger or workmates would actually open up a topic and talk to you about crypto when they see the t-shirt.
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Let's say we run into some other species will they accept a 95% premined supply? Yes bitcoin is 95% premine to anyone coming into contact with it for the first time today. Chances are they are more advanced than us let's say Do you think the aliens will accept bitcoin  What about newborns? Let's say that they do exist, why would they accept Bitcoin? Would you accept something that doesn't really have a value to you? Let's just put it this way you would go to some native or those who know nothing about money do you think they would accept your Fiat when you give it to them as a payment? |
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