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41
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Economy / Trading Discussion / Re: What do you need to become a successful trader?
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on: January 21, 2020, 04:16:44 PM
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Your opinion is right! Whatever we imposed strategy and techniques, if we lose hope then we are loser. I believe that we should try our best even it is failed. Atleast, we have experienced and we can realize our flaws. Remember, mistakes are our bridge to reach our goal. We just need to focus, learn from mistakes and never stop on trying. If you never achieve at the first attempt, try harder next time. A very famous quotation try, try again is applicable everywhere in your life. When you enter in your practical life, with the passing time the nature of difficulties also get stronger. To overcome the strong risk you have to use a strong strategy. Never give up by losing confidence, prove the world that you have capability to perform best duties. |
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42
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Economy / Trading Discussion / Re: How long do you hold on a trade.
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on: January 21, 2020, 03:52:00 PM
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As long as I don't need money. I know thats not "trading" but usually price doesn't change that drastically for me to either sell or buy. For example I sold around 19k times and got my money out because I feared it was too high to sustain and I was right, something "that" marginal would make me sell, at around 3.5k levels I thought about selling as well but I got a big amount of money somewhere just at the same time (not crypto related, personal life happiness) and I just let the bitcoin sit since I just got a good chunk of money somewhere else, by the time that money dried up, bitcoin was back on 10k levels yet again so I didn't felt like selling anymore. So unless there is like a %100+ increase or a %80+ drop, I don't really consider buying or selling.
This is due to your lack of confidence and inexperience. One you invest in a long-term or short term trade you have to be hopeful for better results. I am not saying that people should not invest outside crypto market. I am just emphasizing on the benefits that crypto offer and are not offered by any other trade. Once you have invested wait for the results, check the numbers timely and wait for the result. |
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43
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Economy / Trading Discussion / Re: Learning to trade
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on: January 21, 2020, 03:26:47 PM
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Best is to make an demo account and implement what you learn and improve your result rather than trading in live website. Some of the time market is heavily manipulated so at that time it is preferred to stay back if you can't afford to loose your fund.
Trading with a demo account is also good but it is still important that the person much have experience in the live trade which will tell that how much the person is expert in trade and how much can he earn and lose so after the demo period if the person want to go live then still he have not to trust blindly on his abilities and have to start with small capital to check his abilities for some longer time. I have also followed this method. Demo accounts are safer if you think that you need to polish your skills or get some authentic knowledge before getting into the real game. But as per my past experiences I have seen that it is much different when you actually trade and there are a lot many instances where practicality is required to decide what is profitable for you. |
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44
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Economy / Gambling discussion / Re: Is the main purpose in gambling, always to make more money?
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on: January 21, 2020, 03:08:44 PM
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There are different kinds of person in the world, there are those that will prefer to play nust for fun, and those that are really in to gambling because they aim for profits but if I were to evaluate these two, I think those that play because of profits are quite more frustrated unlike people who play just for fun. For me, I always play not because I want some profit, I play because I try to consume free slots and game offered by various gambling sites, just for the intention of fun.
If a gambler's reason why he gamble is to earn its like giving away your money in gambling because its not easy to win and you're more likely to lose (depending on what games you're playing). Because of the money involve and how easy it is to become rich if ever you hit the jackpot many people are trying their luck and spending their money due to this hope. Well we have different reason why we gamble but have a limitation so your life wont get wreck. If you are targeting to make more and more money via gambling, then it is obvious that you will fall addict to it sooner or later. I don’t think that if a person gets disheartened due to a loss it would be enough for him to quit gambling. It has an alternating effect most of the time. People try again and again to overcome their flaws and regain the lost money through gambling and this leads to unending addiction. |
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45
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Economy / Trading Discussion / Re: You CANNOT trade successfully without RISK-MANAGEMENT
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on: January 21, 2020, 08:21:09 AM
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Trading is just like our normal job as well, you cannot become successful if you are lazy enough to do it, that you are just trading for fun, or you are happy enough doing trade just to earn for a small amount of money. If you don't have enough strategy in trading even in job, you cannot be promoted at all and you cannot become successful.
Usually people take management as a very simple thing. It is a separate field and involve understanding of many important and difficult concepts. Risk management is the sub field of it. Risk is the part of every trade so management of it is very important part of it. Planning your trade and adopting the strategies that are more suitable and adoptable for you, what the risks it offer are and how you will deal with it is necessary. Also make a backup plan or alternative plan for your trade in case of high risk. |
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46
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Economy / Economics / Re: Why Cryptocurrency threatens governments
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on: January 20, 2020, 05:07:59 PM
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They do not want to allow the distribution of cryptocurrency in their country because government want to make everything under their control. Unlike crypto, it is decentralize meaning no one controls it that is why they do not want to allow it. Plus the fact that they are afraid that crypto might replace their current fiat money.
Crypto is better than fiat in many ways but they should not be afraid of it as a replacement of paper currency. Governments should understand the fact that people are using it as an alternative and this would run parallel to the paper currency. The usage of crypto will also improve the economy of a state that will benefit the governments and in turn countries so they should not be afraid of it. |
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47
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Bitcoin / Bitcoin Discussion / Re: Bitcoin Daily Living
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on: January 20, 2020, 04:45:48 PM
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I started working in 2009 ... I am not one of the rich. so I worked on a hard job. until I was married in 2014. and knew bitcoin in the same year. but i still work. 2015 I decided to stop working and try to live off bitcoin. 2016-2017 is the craziest thing that I got from bitcoin. without investment, without the money I spend on bitcoin. I am a bounty hunter, and managed to get houses and vehicles from bitcoin. this is my life from bitcoin. and today I still live daily from bitcoin.
until now you are not working outside Crypto?you are feeding the whole family and having funds just for bounty hunting? i believe in 2016-2017 and at least first quarter of 2018 but after that?even traders keep on failing so how come that you survived those years without having regular work in real life? well people have their own ways in treating crypto lucky that i am just holding my crypto income and feed my family from my regular job. It offers multiple ways for daily living. You can include it in your daily life by using it at the places where it is offered as a method of payment. It offers multiple ways of earning also in this way you can make yourself financially secure. I myself is the new in this crypto market but I have learnt from others experiences that the aim which was set behind crypto’s foundation has been achieved. It is benefiting the users in their daily life. |
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48
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Bitcoin / Legal / Re: Okay. Charge tax on bitcoin. Is this fair policy?
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on: January 20, 2020, 04:22:17 PM
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I noticed that certain country may charge tax on earning from Bitcoin trading...
20% tax on it. I think this is quite ridiculous.
That means govt sees it as a lottery.
What do you guys think?
Taxation is one of the major source of revenue in many countries today. As far as a person earns money such person is obliged to pay his or her taxes. If a bitcoin trader earns profits from its trading activities, he or she is duty bound to pay taxes to the Government as this will aid in development of the society. Hence taxation of crypto related activities is highly supported by me. It is not possible to keep track of transactions made by the cryptocurrency in a country due to its universal nature. Many tax imposing authorities have tried to impose tax on it and the taxation guidance given by the IRS depicts it as a possessions someone hold. According to which holding Bitcoin for a longer period of time, when you are about to sell it you have to pay the capital gain. |
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49
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Economy / Economics / Re: stupidity is so close to poverty
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on: January 20, 2020, 01:21:06 PM
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It sounds a bit harsh that being a fool is close to poverty. But it must be admitted that there is truth, my parents always say being
poor is OK, but being stupid is a shame. I didn't understand it at the time, but after me study at the university, I think I'm starting
to understand. If we have knowledge, in the sense of not being stupid. We always have ideas for make money, which means we will
be far from poverty.
I agree with that. Being poor is okay as long as you know that you are dedicated to achieve success. You should always crave for education and success because if you will always think about that then you are going to be limitless because you will be so focused to achieve anything and any negative things will not distract you. Very well said, Running behind knowledge is better than chasing money. If you will have a better command over knowledge of a business, you can create multiple ways to earn out of it. If you do not have knowledge and you just want to get money to overcome poverty this will give you bad consequences including involvement in illegal and stupid activities. |
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50
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Economy / Economics / Re: Say Goodbye to Banking as We Know It
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on: January 20, 2020, 01:00:05 PM
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However things go advanced there won't be a scenario to bid good bye to the banking system. It is the universally accepted system that has helped in economic development of the country. Maybe the platform gets updated to the growing need, but the banking industry will remain the same. Right now understanding the need of the upcoming generation and to stand against the growing crypto market, banking industry have begun to adopt the blockchain technology. Likewise updation will take place continuously.
Yes of course! People are still embracing the banking system. In fact, in my country there are a lot of people who tend to use atm cards than ewallet. Why? Because only few people see the importance of cryptocurrency especially in my place. But let us look always for future use of digital currencies and we all know that someday, it will be the primary currency of the world. People are embracing paper currency because it is centralized and accepted everywhere. It will be the primary source of payment in near future only if we will attract more people toward it. Bring your friends and closed ones in this market, give them the knowledge of background, importance and working of this digital market. Adding more in this market will increase its price and will lead to surprising results. |
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51
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Bitcoin / Bitcoin Discussion / Re: Reasons to be thankful than hate him
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on: January 19, 2020, 05:53:36 PM
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The main reason why people is being hated by so many people because those people who hate it is lacking of knowledge about it. They should understand the bitcoin/cryptocurrency first before they talk some negativity into it. It has so many potential and benefits to all of us so we should try to check it out first before talking.
Let them be if they hate bitcoin, those who love bitcoin knows how it works and its features. Those who hate bitcoin doesn't know anything and how this provides easy access and help to the user. Indeed lack of knowledge also and actually we are grateful that we know and able to use bitcoin. But it would be better to at least let them know even a little about bitcoin. It is not a good thing to let them hate bitcoin for the rest of their lives. As he said, the main reason why they hate bitcoin is they lack knowledge, giving them enough information to know about bitcoin might change their thinking about it. Very true, lack of knowledge and lack of awareness is the reason of their negative thinking. People who are enjoying the status and benefits of Bitcoin are very thankful for this digital technology. Making non users aware about the benefits of Bitcoin will change their way of thinking and they will be attracted toward it. Also the inexperience and speculations haters made about this crypto market is giving people negative thoughts about it. |
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52
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Bitcoin / Bitcoin Discussion / Re: Do you record and preserve Bitcoin history?
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on: January 19, 2020, 05:18:31 PM
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I have never saved a site or recorded a video about crypto, there are many sites about crypto, if the site that I always visit is deleted I will look for other sites, because I'm sure sites about Crypto won't be completely deleted.
I agree. Im pretty sure that lot of people saved it so why do I need to saved in myself. I can search it to get information if I want. But having collection of records about bitcoin was really helpful because you will know the status of its value. With the increase in demand, its wide use and importance, multiple sites have been created who give you each and every information about the Bitcoin, how transactions are made, how the software works. I think in future more sites will be created with the increase in demand. There is no need of saving any video or record. If it helps you in any way you can do it, but you can always check the history at various sites when you need it. |
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53
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Economy / Trading Discussion / Re: Trading Options is a bit overwhelming for me. Any Suggestions to make it easier?
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on: January 19, 2020, 09:49:07 AM
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As the title suggests. I am a newbie trader and have recently found out the benefits of trading options. The hard part is that there are just too many things I see that I have to fill to execute a trade. Are there any guides that could help me understand trading options? or any platforms that makes it easier for trading? Thanks in advance.
There are no such thing as easy money. Trading was easy and learning it can be difficult. But what makes it much harder is how would you have your own ways to earn profit. Better have an immense patience to study reading the market and predictions first. That's the common misconception nowadays, that trading can easily give u money just buy low sell high. No, it requires more experience and evenneeds a huge amount of money first if a trader really wanted huge income. The higher the bid, the better. For me Experience, patience, a good balance, active decision, required knowledge and passion all combine together in order for a good trade. Yes trading gives you money, if you implement your plan in a right way. Trading will become easier for you if you use the knowledge in the right way at right time. It is difficult for those who take quick actions without thinking just to gain money. You should also learn from others experiences. |
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54
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Economy / Economics / Re: Why Cryptocurrency threatens governments
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on: January 18, 2020, 05:40:25 PM
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Governments have an issue with crypto because they dont understand how to control it. How can they make sure taxes are paid, how can they track usage and payments. These are all things that can be done within the current monetary system. Little by little they are warming up to it because they are finally starting to understand it.
Yes they have these issues with the cryptocurrencies but if they will study the whole system of blockchain they will understand that the citizens will not deny to pay taxes if they will legalize cryptocurrencies and will provide facilities for the users of cryptocurrencies. If they will facilitate us then we will also pay fees the same as we are paying to the exchanges. Of course, you can find many different reasons why the government does not want to legalize cryptocurrencies and the main reasons have always been the lack of opportunities to implement control of the cryptocurrency turnover and taxation of users who are anonymous cryptocurrencies owners. But it seems to me that we still need to pay attention to the government’s ability to print new money, which is why inflation is growing. If people use Bitcoin, their number is limited and governments will not have the ability to manipulate funds. Cryptocurrency is decentralized, its value is controlled only by the users not by the government. In this way it can easily reduce inflation and make the state of countries with poor currency more stable. It is controlled by computers so no authority can manipulate it. This is the biggest and only threat the governments have of cryptocurrency, as they never want to lose their control over money. Not only money it is the control of whole economy. |
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55
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Bitcoin / Bitcoin Discussion / Re: Bitcoin: The Social Phenomenon
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on: January 18, 2020, 04:11:14 PM
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It's really an awkward thing when people say Bitcoin hasn't stored a value which is really a ridiculous thing, It's not that thing that they have any belief on this system it's just the lack of communication, I think if they get proper knowledge about Bitcoin and it's growth then they might be passionate to this profitable platform if Bitcoin and cryptocurrency would get more accepted then the proper education based on blockchain system should be spread out, without proper education, nothing can be changed, so we should pay heed on the route of our society, I am sure it will work.
We can think of the ways through which we can create awareness among people about this grand technology. We can spread information to our family members, friends. We can also use social media as a biggest tool for creating awareness, by sharing our positive experiences. This will make people aware about the value of Bitcoin, they will stop believing on rumors and random posts and will come forward to invest in this market. |
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56
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Economy / Economics / Re: You want to get rich, don’t pay taxes, don’t get married, don’t use bank, and...
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on: January 17, 2020, 06:18:41 PM
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May be its your opinion but getting rich is another story,Getting rich require commitment,struggle and patience.It is your mindset which make you rich.Dont run after money but make money that work fr you.
Avoiding natural basic needs will take you more,Life should be in balance so starting family or supporting family will give you more encourage to do better in life.Make a rue that invest more and spend wisely it will give you financial freedom.
True there is difference between getting rich and becoming greedy. If you are getting rich for a better cause, with a better mindset and good achievement plan, your good aim will lead you to the achievement. Mostly people want to get money to fulfil their basic needs and support their family. Their good aims help them to become rich. Not only rich in money but also rich in heart. |
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57
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Economy / Trading Discussion / Re: Do you ever trade at work?
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on: January 17, 2020, 05:57:33 PM
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I traded at work more than once. The truth is that having a diverse portfolio, I understand very well that at any time I can get a signal about a sale or purchase, depending on where the market trend will go.
Obviously, I do not want to miss this moment, especially because of the work. This can not be called day trading, but rather a rearrangement of stops or profit taking.
Well then this is one’s practice or ability of multitasking. Especially if you are into a trade that requires you to pay attention timely like you have to check the values like in crypto, you have to look close to all the ups and downs you can mark figures for you and then can check the important one while job. |
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58
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Bitcoin / Bitcoin Discussion / Re: 67,1% of micro businesses do not know what cryptocurrencies are.
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on: January 17, 2020, 05:41:50 PM
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I think not only in Mexico, almost all countries that accept bitcoin. the number of companies that are willing to accept bitcoin as a means of payment is very small because there are still many who do not understand cryptocurrency. and in my opinion the biggest obstacle why bitcoin cannot be accepted as a means of payment is because its value is very volatile.
The reason why it is not accepted by many is not volatile, it is because it is not supported by the government as many countries has put a ban on it. It is also because many people are not aware of it, once people get to know about this they will start using it and will be accepted be many also. |
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59
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Bitcoin / Bitcoin Discussion / Re: No one ever sells, nor buys anything in BitCoin.. Think this is wrong, read on!
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on: January 17, 2020, 05:26:08 PM
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No one ever buys nor sells anything in Bitcoin: Stores that claim to " accept " bitcoin are just providing a quick and easy way for you to convert your Bitcoin into US DOLLARS, which is what the store operates on. All pricing is done in US DOLLARS, the store purchases their stock, pays their bills, and makes deposits into the bank and operates in US Dollars. Having to convert Bitcoin into US Dollars at every transaction is MORE COSTLY, More Complex, More Time Consuming than just using US Dollars. Using Bitcoin to pay in a store is NOT the better more efficient payment system that BitCoin initially promised, some stores are just willing to do the extra work, and go to the extra expense to get your business. SERIOUSLY, could you imagine trying to run a store, and price something in Bitcoin  If you are still to dumb to get it read a few examples below: If I were looking at car's, a they were advertising selling a Toyota Camry for 3 Bitcoins, one day it would be a total bargain, the next day a fair buy, and the next day it might be massively overpriced. Would you rent an apartment that really operated on Bitcoin, priced your lease in Bitcoin of 1/2 bitcoin per month That would have been great at the beginning of the year, and you would be evicted and homeless now as the price more than doubled. How about get your salary paid by BitCoin, lets say in January 2018 you took a salary of 1/10 bitcoin per month. You would be working for almost nothing a year later. WISE UP PEOPLE, realize the difference between using bitcoin as a currency, and converting it t US Dollars to use as a currency 🙈🙈🙈🙈 It is not wise to use the bitcoin as price of something as the price is very vulnerable and it can change pretty high or low anytime. So others are offering their products price via USD or any currency that are stable and they accept payment via bitcoin equivalent to the price in USD. As there are very few stores right now that can afford to gamble in bitcoin vulnerability especially that bitcoin price can be easily manipulated by big investors. Bitcoin is a very stable method of payment. You cannot deny its value and importance depending upon its fluctuating nature. It is strongest among all, and will soon gain a powerful place in everyone’s living. If you are calling it as vulnerable by comparing it with USD or other currencies, their price can also fluctuate. But the benefits you can gain from Bitcoin cannot be provided by the other currencies. |
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60
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Bitcoin / Bitcoin Discussion / Re: Do you go to blockchain/crypto events?
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on: January 17, 2020, 05:12:06 PM
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Full article: https://itbiometrics.com/2020-is-kicked-off-with-the-ces-blockchain-event/The CES event is the biggest electronics showcase in the world and for the past few years, they have had a digital currency section. Some of the products that are being showcased seem pretty cool like crypto watches etc. Is anyone going to this? The digital currency section of the event is only for a day or so. Larry King is speaking at one of the cryptocurrency talks lol. If you are interested in learning more about it you can visit the above link which has information regarding some of the speakers and cool blockchain gadgets. I honestly never heard any blockchain/crypto events here in our country because cryptocurrency is not really that popular here, so i don't think there are no any events or seminars that are related to crypto and blockchain. But if there is really a blockchain/crypto events here i would like to go because maybe it could help me in my future investment. Same is the case in my country also. Most of the people do not know about this market and that is why they do not want to invest in it also. Seminars and meetings can help create people awareness about this market. In those gatherings, users will promote their business at the same time crypto market also. This would result into the more people coming toward this market. |
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