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Other / Serious discussion / Re: First Country, Which Will Start Using Crypto As Official FIAT - Which One ?
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on: September 11, 2018, 12:10:12 PM
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Which country will be the first one to start use crypto as official FIAT ? I think it will be small country, like Tuvalu, Nauru or Marshall Islands.
If i'm not wrong, the Venezuelean government already issued their own token a while ago. Therefor making it the first government issued token, which was backed by barrels of oil. Mainly countries which highly inflated fiat are looking into these options I guess yes that is true, Venzuela introduced the Petro coin which is a cryptocurrency with a limited supply and attached to the price of oil. It is supposed to replace the current currency Bolivar which has inflated to almost 1 million percent. However this is not a good example for two reasons. Next to the crypto currency will be also a traditional currency which is called the petro dollar. Also this will be attached to the price of oil. So it is actually a hybrid model, rather than that a fiat currency completely gets replaced by crypto. In addition to that, Venezuela has been quite harsh on crypto currencies, miners went to prison for abusing electricity, and the approach of the new currency is more a desperate act to stop the hyperinflation. Here is a better example: Estonia This small country is one of the most leading in terms of startups, it has mire percent of startups than any other country, the government is very open towards new tech and innovation and the city Tallinn is already a hub for blockchain companies. A while ago there were even plans to introduce a state issued crypto currency. These plans have been discarded though. In my opinion, there was peessure from the EU to let it go as it would have weakened the Euro. So if these forces were not at play, Estonia was probably the first country in the world. Here is a source: https://www.worldfinance.com/markets/estonia-pushes-ahead-in-race-to-issue-first-state-backed-cryptocurrency |
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Other / Serious discussion / Re: Why EOS is actually killing the market
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on: September 11, 2018, 11:49:35 AM
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From all the ICOs collection Ethereum, EOS probably did have the biggest impact dumping Ethereum. You wonder why actually EOS had to convert Ethereum to FIAT, they collected billions. It’s plausible they were dumping also to hurt Ethereum, fuel the fud and win more people to switch sides. After all, EOS is the most serious Ethereum competitor. Sounds too far fetched?
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Economy / Economics / Re: How the Bank works to make money?
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on: September 11, 2018, 11:31:42 AM
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The banking system is really most mystrious of our world because if we research deeply about all the banks in the world it has been in the control of few people so they were controlling all the money of the world so they can create as much as money they want and can pay the employees.
That "few people" is called the government. I don't see anything mysterious about that. People just like to think it is. There are other reasons as to why the government have to print more money. One is to replace the old ones that have been worn out. We are using money on a day-to-day basis. It's just paper and paper can break easily. Second one is the economy is actually growing and we need more money printed. Transactions aren't always done digitally and most transactions are still done with paper money. Just like other things, printing a little bit more of money isn't bad at all and doesn't result to inflation. But too much of something is always bad. Too much printing of money will result to inflation which affects the economy of the whole country and its the people who experience such consequences the most. The governments not printing any money only the central Banks from the respective country is printing all the money but which is not controlled by their governments as per the articles I have read on the internet. Did you remeber the story of Abraham Lincoln assasination? I studied that he was killed by that few people because he want to release money by the governments not by any banks. Banks give you loan and take interest on it which is the one way they get profit, secondly they make money in different transactions on different currencies. Governments are making money through these banks and benefiting their economies that are also the reason why they are opposing the Bitcoin and other cryptocurrencies not to bring a sudden change in their countries but they should learn from those countries where the Bitcoin has spread without any disasters. The creation of depth is the main way banks make money, I agree with that. And that is also the biggest threat. Just google the term “fractional reserve banking system”. The banks lend out more money that they have. If all people wanted to cash iut their bank accounts then the banks would be closing down. When you research the “Great Depression” you will notice that this has already happened in the past. And as always, history will repeat itself. Therefore crypto is your safest option to store money in the long run. |
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Economy / Economics / Re: Crisis is Coming
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on: September 11, 2018, 11:29:15 AM
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Yes, maybe the world economy is experiencing a crisis, this happens in some fair currencies of several countries against the United States dollar, all of them are weakened and some of them have already touched even more than the lowest psychological point, it also occurs in crypto currencies where all currencies Crypto, including bitcoin, has experienced a very drastic price reduction, perhaps this is called the economic crisis
the world economy is doing good on the outside but inside it is very weak as all the current growth is fueled by depth and money printing. In the crypto world it is the exact opposite, on the outside it seems the market is falling and no ending price decline but on the insider it is stronger than ever, disruptive tech is being further developed while the trash (worthless coins)is slowly disappearing. Latest by next year this is going to flip and we will see many countries monetary system collapsing while the crypto market will be soaring while everyone flees into alternative markets. |
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Alternate cryptocurrencies / Speculation (Altcoins) / Re: Year of altcoins or down again?
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on: September 11, 2018, 10:59:32 AM
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Looking back at 2018 we might still come to the conclusion that it was a really good year, even if we do not see another bull run like in 2017. It is maybe not the year of speculation and massive gains, but rather the year where the tech that has been hyped in the year before actually gets built. And people could buy these project in advanced stages for pennies. A lot of people will probably get very rich this year without realizing it. If you are in the market now you can congratulate yourself, no matter if you are temporary down.
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Alternate cryptocurrencies / Speculation (Altcoins) / Re: Why is Dropping the Ethereum price?
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on: September 11, 2018, 10:54:49 AM
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Since price falling one side other people getting on having their fund alternate cryptocurrencies if the value goes dump in the market at that time we will be find the bitcoin volume dominance will be increased in the market.
If you believe the worth of ETH will be increased then invest do not show your blind belief on cryptocurrencies.
most people are blind, or allow to be blinded by emotions. They listen to fud instead doing research themselves. If you look at the fundamentals of Ethereum, it has a brighter outlook than ever. Casper is being developed and almost ready which will solve part of the scaling issue and even sharding will be possible in the future, also the programming language solidity will be upgraded to vyper which makes easier to code in Ethereum. Giving all these developments, Ethereum stands a high chance to defend it’s position from all the next gen platforms that have nothing but potential tech. They don’t have the brand, they don’t have the ecosystem, they do not have developers that have experience with their platform. Right now, 9 out of 10 projects are still launched on Etheteum, despite many alternatives. If it was the opposite case, and people are fleeing to other platforms in combination with the falling price, then yes you should get out out. But this is not the case, the price decline is only related to fud and selling pressure from ICOs. |
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Alternate cryptocurrencies / Speculation (Altcoins) / Re: What will happen to the market over the next few months?
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on: September 11, 2018, 10:42:30 AM
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you need to look also what is happening behind the scenes. People are only talking about price, but price only reflects the technology and the benefits they bring. On that level a lot of things are happening. Next gen blockchains are coming iut of the woodwork, new protocols are built like sharding, mass market adoption and scaling solutions are going live. And despite the low prices the value of many projects are going up as they approach or have completed main net launch.
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Alternate cryptocurrencies / Speculation (Altcoins) / Re: ETH TO 100$.
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on: September 11, 2018, 10:37:36 AM
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Instead of selling Ethereum at 100$,why not buy more, I believe Ethereum is worth more than that both in the short and long term. It will not fall that low anyway
In your words there is truth. It is not always necessary to look at the price that is now on the market, it is much more important to see the value in the product and in the value that will be in this product in the future, and if the values are higher than the price one can expect that in the future the price will be higher. That is one thing, anothing thing is marketcap, that tells you the real valuation, price itself is misleading |
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Economy / Trading Discussion / Re: 4 factors that could destroy your Trading
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on: August 29, 2018, 08:55:49 PM
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See market prices of crypto currency increasingly fluctuate I think there are a lot of traders who suffered losses, and In taking a decision, many traders are still affected by emotions. Fourth factor that's the meaning, of is a type of emotions:
- Greed
Almost all traders familiar with the types of emotions, the desire to obtain profit possible in a very short time. Greedy nature incurred due to excessive self-confidence. Usually happens after the trader earn profit in a row. They are not aware or forgot that important fact in trading is not can expect definite results of each trade.
- Fear
A sense of fear entered the market usually occur after consecutive losses experienced trader. Fear is basically a natural response so that we can survive in the market. However, excessive fear will make traders lost the opportunity to gain profit. During trader comply with rules risk management and trading plan has been made, he should not be afraid to enter the market.
- Hope
Excessive hopes or unrealistic in trading could harm. Hope to always profit often cause traders to not follow trading plan that has been agreed upon.
- Regret
Regrets that constantly will destroy trading gradually. Regret usually arise after a trader lost some chances to buy or sell, or after experiencing considerable losses. If it is not quickly resolved, the kind of emotion this would be developed into fear, and in extreme cases could make him leave the world of trading.
To prevent these types of emotions , we should always be aware of whether we're in emotions when trading, because trading with the emotions will only make our trading destroy.
This makes a lot of sense...essentially you could say that every emotion is in the way of successful trading, whether negative or positive. It gets more difficult to stay neutral the higher the amount you have on the table. So place smaller bets, it makes it way easier. |
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Economy / Trading Discussion / Re: Day trade?
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on: August 29, 2018, 08:52:00 PM
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Day trading Cryptos are good if you understand technical analysis but I would suggest that, its not good to day trade now in this marker condition as things are not stable at the moment. Invest and hold is a better strategy in this market condition
Day trading is the best option at the present time, you can see that bitcoin prices are constantly fluctuating and refining strongly over the past few days, so to be profitable with little risk. I believe you should trade the day. The market is bearish in the long run so the bitcoin price will probably decrease at any time so when trading you must always keep track of bitcoin prices. I agree, the volatility is so high that some call 2018 the year of volatility, that makes it ideal for trading. But still many people get burned as daytrading requires a ton of knowledge and experience. Picking a soli project and ride the bear out is way easier. |
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Economy / Trading Discussion / Re: Be calm when the market falls
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on: August 29, 2018, 08:48:38 PM
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You can be calm when the market falls or may sell using margin trading. Why not? I personally think that it is also a good idea. However, you need to analyse first, as any fall may be a part of a brief correction:)
being calm when the market falls is very good, but it's very difficult to get that kind of thing, because basically when you're holding a coin, or other asset, you definitely won't calm down and be in a hurry to sell it. It's easy said but hard to do. The best thing is to keep your exposure to the market low. This also slows down your wealth building but in times like these you will be grateful. And it is easier to ignore the news or stop refreshing the stats on coinmarketcap. |
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Economy / Trading Discussion / Re: HODL is not advisable!
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on: August 29, 2018, 08:42:33 PM
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In my very own experienced there is no good outcome when you HODL too much.
First of all do you know what HODL means?
HODL is used when referring to hold the cryptocurrency rather than selling it.
Holding cryptocurrency is no good because it means you don’t have a knowledge about trading, for me, you can do scalping trading and increase your holding by it and gain profit.
I suggest that all in the Crypto community must learn the basic trading fundamentals. There are free tutorials anywhere. Don’t be lazy, think big.
Yes, trading may sometimes bring more money, but hodling isn't about losing money either. Moreover, hodling is preferable for inexperienced investors because you don't lose money, which might be the case with trading. So, I wouldn't impose my opinion on others because it might be bad for some people. Trading generally requires anyone to try as much as possible to get enough experience and be able to use that experience and knowledge to their advantage. HODL is only the best method for long term investors who simply may not have all that it takes to be able to trade the market effectively. A lot of people thought with trading by buying low and selling high, the market will just dance to their tunes until they end up facing the real market and seeing how making decisions can be hard. buying high and selling low sounds like everyone can achieve it...fact is that around 80% of retails day traders loose in the long term |
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Economy / Trading Discussion / Re: Always keep fiat while holding
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on: August 29, 2018, 08:40:33 PM
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Divide your investment into several parts: short-term investment and long-term investment. I still recommend that you invest in long term or also called HODL because the potential of Crypto market is still unclear and that is the opportunity to bring more profit for us. Most of the rich people from the Crypto market have been holding Bitcoins for a long time.
Also divide it into different markets, never more than 20% in one single market and never more than 5% on any name |
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