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Some years ago, I learned how trade. So, I trade and gamble. Later, I like binary options. This are my experience.
I first started day trading, I was good at it. And I have set of rules to follow.
I don't trade on Fridays and weekends
I don't not overtrade. It leads to more loss trades.
I use stop limit but not all the time
I disciplined myself because I know if I don't, losses would discipline me.
I learned about analyses. Most especially the technical analyses.
I study about coins and also analyses them.
I am patient enough and not greedy.
Trading at the bottom of upper line does not mean the trade will be successful.
So, I know the basic trading rules. I trade and I can. But, the gain was very low compared to what day trading imply. It implies day profit but professional traders also think about the losses involved.
I later decide to gamble, I don't play dice because I like to analyze, so, I chose sports betting. Particularly, football betting. I also follow the rules.
I checked for strong teams
The score the team usually score
Check their previous matches with the team they are meeting
Check for their last five matches.
Check for players they want to use and do on.
But, as good as I am to the extent I predicted scores and my friends were surprised, I still lost all my money to gambling. It became a problem in my life. And I changed to binary potion.
I use my trading experience for binary option but I lose the more. I later was so confused. But I started what I know best again, trading.
But, I later switched finally to long term trade in which i buy at low price, hold, and later sell at high price. This is where I gained more than 500% of my capital this year alone. I still trade on short term bases, but the cryptocurrencies i used is 5% of what I used to trade on long term bases. I profit from both but the profit from long term can be higher but take long time.
To me, I say no to gambling, trading is far more better. I start trading, left it and my life became miserable not knowing it was and still the best. But, not getting it right is what people are suffering from.
Gist us also about your trading and gambling experience.
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I already pointed out the posting you need to make in order to earn a merit in your past post where some commented that it is not relevant at the present and assumed that you are just begging for merit. Although the topic is suitable for beginners, still we already have many of these threads on beginners and and help section. Not every wallet you have given is not applicable for all and might look silly for some. You need to think outside of the forum, post your insights or opinion on newest and latest events in the crypto space.
Thank you so much. But, how can I move this thread to the beginner section? I will also try my best to write new posts here with meaningful corners. I even posted another one you can see informative https://bitcointalk.org/index.php?topic=5228307.new#new |
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There are times I will sit down and think about bitcoin halving and when cryptocurrencies will reach new all time high. The last time it happened was in 2017 for strong cryptocurrencies like bitcoin.
There are only 21 million btc to be mined. And, only 18,236,512 btc has been mined. Only 2,763,488 btc remaining.
I am just thinking that with the little remaining bitcoin, can the effect make the price of cryptocurrencies to reach new all time high. It sounds impossible to me but I know that the price will increase but may not reach new all time high.
So, something not seen yet can be the reason why cryptocurrencies can reach new all time high such as people anticipation. Like I am anticipating, I have invest in 0.4 btc. Some people will also do as I did.
The second thing that can cause it is the increase in the price. Some people that know how to analyze crypto market will still see that the price will increase and therefore invest and make the price to continue to increase.
The third thing I believe can make the price to increase are fomo people. They will see everyone investing and they will also invest for not to miss the great benefit.
This is what I think about cryptocurrencies this year and next year because this process will extend to next year as I analyzed it. You people can also make contributions to know if we should invest more on cryptocurrencies this year.
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I am a newbie yet but I know a lot about the crypto wallet. Higher ranked members would know pretty more about the wallets but this will be helpful for new people that just joined in crypto world.
Crypto wallets are used to save cryptocurrencies like bitcoin. It generate you crypto addresses. The address are called public key like bank account number where you can send cryptocurrencies.
Note: sending crypto to a wrong address is 99% to 100% impossible to be reversed. Send to the right address. The best is to copy and paste the address.
Crypto wallet also have private key, just like a password but different from a password because it gives you the full ownership of the wallet. Some wallet do not have this feature.
There are two types of crypto wallet:
1. The online/hot wallet
2. The offline/cold wallet
The online wallets are not safe and more susceptible to cyber attack. There are 3 types.
The web wallet
Web wallets are wallets you can access through the browser, it can be mobile or computer browser.
The mobile wallet
The wallets you can access through a mobile app. The bitcoin wallet and mycelium wallet are example.
The desktop wallet
The wallets you can access through laptop or other computers. Example is bitcoin core and electrum wallet. You can use it to connect to your hardware wallet
The offline wallets are the safest wallets and are of 2 types
The paper wallet
As the name imply, some organizations provided you the opportunity to save cryptocurrencies on papers. It is very safe to use. But some people see it like a transitional means.
The hardware wallet
It is very safe too like the paper wallet but are very expensive. You will save the cryptocurrencies on a hardware. There are 3 common hardware wallets.
The Trezor Model T is the most expensive
The Trezor one
The Lender Nano X is the one you can also connect with phone or also with laptop
The Lender Nano S is the most common used
The third one is Keepkey.
Making the fifth one I talked about the hardware wallet.
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Quantum computing as said might not pose a threat to Blockchain but could later be able to make Blockchain prone to attack. |
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I didn't use Ledger before but what do you mean by saying you can manage more coins by using Electrum? Also, I never heard of the reward you are talking about!
50$ to 100$ for a secure and reliable hardware wallet isn't really expensive. A safe case to save your cash money and jewelry would cost much more.
Normally, you need external wallets to operate hardware wallets on computers. You can use electrum wallet to manage hardware wallets. But, ledger nano also have a special feature of Ledger live app that you can download to your phone and use it to manage the wallet instead. If you use the ledger live app, you can store up to 23 cryptocurrencies. But using it on computers with desktop wallet like electrum can make you add more coins of your choice. |
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We all know that the safest wallets are not online or hot wallets but offline/cold wallets. That is why I like both paper and hardware wallets. They are not easy to use but are the safest means to store cryptocurrencies. Hardware wallets are still more convenient to use than paper wallets but also very expensive.
The common hardware wallets are Trezor, Ledger Nano and Keepkey. There is a particular one I like because you can connect it with your phone for making transactions. It has a Ledger Live Mobile app and you can safely manage your crypto anywhere you are. The wallet is Larger Nano X.
It support up to 100 cryptocurrencies and you can use it to manage 23 coins using the Ledger live app. If you want to manage more, you can use external wallet like electrum.
Lastly, you can earn reward for cryptocurrencies you are holding using the Ledger live app or external wallet.
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The classical computers process data while the quantum computing is a new method to process data and solving problems that classical computing are not capable of.
There are some computations that was thought can not be possible but now becoming a matter of time by quantum computer.
As I read it, it was written that quantum computing that computer giants like google are working on now can not break blockchain and the underlying cryptography. But, with time, there can be more sophisticated ones that can be a threat to blockchain. So, they are a threat to blockchain and cryptocurrencies.
It will be better to create a quantum resistant layer to an existing blockchain protocol to increase its security or create a quantum resistant blockchain from scratch. They are the recent approaches.
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An instant crypto exchange is an exchange solution that aggregates prices and liquidity from multiple custodial trading exchanges. Exchanges like Binance, kucoin and bittrex are called custodian exchanges.
Cryptocurrencies and other funds like US dollar are safe or safer on instant exchanges because they are save on your wallets. You retain the full owner of your cryptocurrencies because they are save directly on your wallet in which you have your private key and seed recovery phrase. So, you have more control than on custodial/traditional exchanges. Exchanges can be hacked not like wallets that have private keys features.
But know that if you want to trade, you need to utilized custodian exchanges which means your funds are custodied at this time.
Instant exchanges registration is very easy and you can sign up fast with just email address and a user name. It is more modern and easy to use.
But, the trading fees are higher than custodian exchanges. And not easy to use by novice that have little knowledge of how to protect crypto wallets.
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Please don’t beg for merits. It is degrading.
I am just new here. I have deleted it. I will try all my possible best to write quality posts. And, I know now to not beg for merit. Thank you for telling me. But, hope the post is useful and interesting? |
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 I am just so happy because the bitcoin halving it near again. It could be on May 14. But if not on May 14 it is certain that bitcoin will halve before May 18, 2020. I am sure that the halving will increase price because: 1. People already anticipating for it and they are ready to invest before the halving time. 2. Bitcoin reward will halve from 12.5 to 6.25. This will cut the supply. The supply will reduce because of bitcoin halving and the demand will increase because of people that will buy because of anticipation. Let us expect bitcoin to surely still future increase in price this year.
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