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41
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Economy / Economics / Re: Fiat Currency Always Fails
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on: September 04, 2018, 11:04:27 AM
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Some of you guys in this forum are full-time dumbos. So you think that when dollar falls that means that it is over for the whole world and that Bitcoin and other crypto currencies will come and take over ? Sounds like something only a dumb person would say. How can you be thinking that? Whenever dollar falls, the value of Yen and Euro will appreciate. Bitcoin is not a real currency, it’s just like something else made to be on its own and when you’re using it you’re in complete control of your money and not the government being in control.
Well, I agree and disagree with you on that point at the same time, about Bitcoin not being a real currency. I agree that at the moment Bitcoin can hardly be considered a genuine currency on purely practical reasons. You can't buy things with it directly, that means Bitcoin doesn't circulate but this is what the term itself (currency) stands for. On the other hand, there is nothing which would prevent Bitcoin from becoming a currency, there is nothing in it inherently which would not allow it to become one. It may not be a very good currency overall due to its deflationary nature (and a few other issues), but this is a completely different story. Nothing at all will make bitcoin stop from being a currency as long as its real life usage starts becoming more pronounced. On the issue of fiat failing, I would not say it totally does, but we all know how much fiat has been weakened several times and still keep getting weak due to all the manipulations and controls by the government, which at a point, I seriously hope it does not end up imploding. That will be too much to assume anyway but in this case we are not just talking about USD, but fiats in general. |
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42
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Economy / Speculation / Re: BITCOIN BULLISH? ON CME BITCOIN EXPIRATION
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on: September 03, 2018, 12:11:17 PM
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I will still want to be keeping my bullish sentiment hanging a little bit until we actually see even a break above $7300 at least. Like you have already pointed out, this is more or less a rising wedge which simply if it breaks lower can send us spiraling back down to the $6k support and if at least, we get to go past $5800 lower, then another lower low gets imprinted. Let's see how this goes and looking at the daily chart we will see the MA50 itself acting as a very strong resistance at the $6900 region. |
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43
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Economy / Economics / Re: How the Bank works to make money?
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on: September 03, 2018, 12:00:02 PM
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Income can be realized such as the cost of printing an ATM receipt and taking the opinion of a fee-based income service obtained from shipping costs and also monthly fees.
Banks get a lot of money from so many things. First and foremost, a service is being rendered and whether you like it or not, you are paying for it. At least, from my end, I get deducted on every transaction I make, on the texts I get on my phone from transactions and some other monthly debits or thereabout. That is even by the way. With your savings, banks are able to have a lot of reserve to dish out loans and typically, most banks get a lot of revenue from the interest paid on those loans as the case may be. |
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44
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Alternate cryptocurrencies / Altcoin Discussion / Re: ETH is now hot topic - Whats wrong with it?
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on: September 02, 2018, 01:37:04 PM
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Eth price is down and not recovery because there is no much demand for eth in the market, currently the bear market has made some people to stay away from ICO investing and eth price goes high when there are much ICO going on and people are buying eth and investing in the ICO, these month alone many ICO's postponed their ICO and many that hold their ICO couldn't reach their hard cap.
It is normal for a market to be a hot topic as long as it is either not going according to their expectation or there is a huge rally upward. In this case, we all know it is the former as the market is currently in a downtrend but what some of them may not understand is that rather than trying to look at the bad aspect of it, maybe they should be looking at the good part of at least being able to invest at a low amount. ETH has always been having a good use case, and that should be good enough for anyone going long. |
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45
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Economy / Trading Discussion / Re: Don't be discouraged! Keep holding.
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on: September 02, 2018, 01:24:23 PM
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The market is bearish and it is the time to hold. Do not sell anything right now if you feel that the project has some potential.
Many people around ha snow already discourage about the continuous drop of the market price. But I think we don't need to discourage about the price because we already experience and know that the crypto market is really unstable and we can win or loss depending on our patience. Being discouraged at this point in time shows little knowledge about the space. Those who know the value the space brings in the long term, worry less about what the short term is offering. So far so good, we can see for sure that the market is pretty much in a good buy zone and most especially for altcoins and rather than being discouraged, this should be an encouragement to be buying more at those lower prices. Market cannot stay down forever, and will not stay up forever either as there would be change of trends. |
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46
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Economy / Trading Discussion / Re: 4 factors that could destroy your Trading
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on: September 01, 2018, 11:39:33 AM
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Honestly, although greed is within the human nature, the human being can control it and not let it overcome him. But the urge of getting much more money ans the confidence of winning will just make things worse. All that you talked about are within the human nature. We cannot get rid of them, but we can control them the way we want them to be. It is not that hard, but it requires training. But the most important thing is to be aware of their existence in you.
Normally, it is within every human to always try to assume the best case scenarios and setting aside the worst case scenarios in most cases. These are two things needed in the trading space which is why it would be hard for anyone to trade any market if they have no strategy and definitely cannot have any strategy if they do not even know all the basics that is needed to know. As long as you have the knowledge and strategy, which you are disciplined enough to go through all the time, greed, fear, hope, regret and to add, indecision, will be the last factors that would ever come to play. |
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47
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Economy / Economics / Re: Reason why other ban cryptocurrencies
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on: September 01, 2018, 11:29:22 AM
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Yes, certainly this is correct as I have noticed that also. When people move money from their country out, the country loses that certain money and because it is done digitally there is little control of what and where will these money be used for. So it is like it is wasted if not used properly.
Do not forget the part where there could be inflow of money into the country as well. At least, if money is leaving somewhere, it is not just disappearing. For instance, a lot of people have been doing well for themselves, some have been able to learn how to trade over the years, and make some pretty good returns on their trade, and looking at the fact that you will still need to convert to fiat to be able to spend at all at least for now, it makes it necessary to at least have a need for your currency which brings about demand for it. |
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48
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Economy / Speculation / Re: Will Bitcoin hit 20k again
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on: August 31, 2018, 01:16:07 PM
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If someone can accurately predict the trend of Bitcoin, then this person may have become very rich, but unfortunately I have not found such a person!
 right! One thing we cannot do is to predict what the future holds for any market and for one thing that I am sure of, a lot of whales will always want to take advantage of some of those calling all these predictions so as to wade off weak hands from the market. However, we know this is the future of spending and for one thing I am very optimistic about is the fact that this space have a huge capacity and ability to grow more than it is presently, with a lot of development coming into play and that is good enough for anyone to focus more on the long term. |
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49
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Alternate cryptocurrencies / Altcoin Discussion / Re: Should you invest in Altcoin?
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on: August 31, 2018, 01:03:45 PM
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thanks for advice. so I can say that the cryptocurrency market, you can transfer many of the rules of a stock exchange trade. they still work just as well.
Simply more like stocks and not different at all. Invest in a company or project you can trust with products that would bring real demand, and not just some project that makes no sense. Anyone who can simply do this will be able to get the best from their investment when they decide to hold for the long term and will always know when to be out or when to be buying back at dips. It is the same way round, so in a way it makes sense to have some good long term trading knowledge to enable anyone make good decisions. |
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50
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Economy / Gambling discussion / Re: Benefits of gambling? Yes - it exists!
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on: August 31, 2018, 12:45:15 PM
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Playing the dice game is a great way to pass the time, and if you play it conservatively you cant lose all your money.
Its nice that I can roll the dice and only risk a few cents- instead of when I bet sports and there is a few mbtc minimum (chance to lose more).
Totally agree that you get more playtime for your money, but i think a lot of players like the thrills of playing slots with Crypto and hope to get to the bonus rounds where they can get up to 1000x bet. But of course its also a really easy way to loose your money fast. however you should never bet for more money than you can afford to loose. That last part says it all. Everyone can decide to have their own reason for gambling, which a lot of people are doing it for the possibility of winning some huge money at the end, some because they said they want to have some fun and so on and so forth. What is important is to understand that as long as gambling is concerned, the chances of losing is still pretty high and better to keep that at the back of the mind than getting to find out the hard way. |
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51
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Economy / Economics / Re: Bitcoin value
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on: August 28, 2018, 10:41:15 AM
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You know it will be very difficult to sole these problems without the expert knowledge of the developer of this bitcoin. Energy consumption, slow transactions are more technical to deal with lets leave it to the expert. As for the issue of governments not accepting or banning bitcoin, this has to do with the fact that speculations are going round the world that bitcoin is used to fund terrorism.
Scalability has actually been the major challenge so far which I believe should be solved in time when the developers get a hand on the whole implementation of the lightening network, which I believe will hopefully drive in demand a lot for the space. In the past bitcoin value has been rising up regardless of any of its development issues. Hence, we can be sure about bitcoin to have bigger values in coming years too. If this can be solved, we will know the next target is real world usage, and if we are lucky as well, the government would have simply accepted the space as a legal entity than trying to fight it. |
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52
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Economy / Gambling discussion / Re: Effects of Gambling
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on: August 28, 2018, 10:30:48 AM
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Why focus so much on individuals? Look at the countries where gambling is 100% legalized, such as Macau and Monaco. These countries have become super-rich due to the tax revenues from casinos. Also, huge number of jobs are created as a result of gambling.
Yes some countries have legalize gambling, but still they have restricted the under age people from visiting casino and play gambling there. I think t hat it is a good decision it can prevent young people from wasting their time by visiting casinos. SOme countries want revenue but some countires want to save their tradition they can make money in some other way than ruining the people's life too.But most of the people playing in that country were foreigners so it is like a visiting spot so it is not fit for all the places if they want to create jobs and revenues there were lot of ways also available. Yes, the fact that he has won just a little amount of money over time, does not mean he would keep on winning forever and that is the issue with a lot of gamblers since once they have a small win, they feel comfortable, assume they have got the best strategy to keep winning the house edge until they get to learn the hard way and the unfortunate part is that it is one thing to be able to learn the hard way and it is one thing to be addicted already based on one's previous mentality. Effects of gambling may seem positive in the beginning days as beginner's luck may work for most of the gamblers but over-time it will show its cruel face like making gamblers addicted to it and then getting suffered in all means. |
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53
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Economy / Speculation / Re: Why we will see $50k Bitcoin end of year
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on: August 28, 2018, 10:13:55 AM
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Isn't it too big for bitcoin to reach that market price before the end of the year? Considering that we have few months left and the price is at 6,000$, i don't think that bitcoin can reach that market price. Maybe in 2020s, bitcoin can reach that market price somehow.
Yeah, as I really would not want to fix my mind on anything serious with ATH in this year at all. Even if we are to get anything high at all in this year, we would really do great if we are able to get through to $15k. However, time will tell how things would be playing out as we are all just speculating anyway and cannot predict what the future holds. For now, we are in a huge bear trend, and until then, low it is but no issues since this gives more opportunity to buy low anyway. |
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54
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Economy / Economics / Re: Offline stores that accept payments using bitcoins
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on: August 27, 2018, 12:00:09 PM
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Thanks for information! In my province where I live, I do not see yet any offline stores that accept the payment of bitcoin. In fact, I think few of the people here in my place knows about cryptocurrency. However, because there is an industrialisation in my country, I think it will build in the near future. I hope that someday, I will use my BTC in my wallet when I will buy something in convinient store. Same in my country, except for very few online stores which I do not really know how they have been fairing in that aspect in terms of customers using cryptocurrency or bitcoin to make payment. The volatility has actually been the main challenge of quite a number of merchants which even some who utilize this medium as payment, still always end up converting to fiat pretty quickly so they do not end up in loss eventually. However, it is good for the space though when it comes to spreading awareness. |
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55
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Economy / Trading Discussion / Re: HODL is not advisable!
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on: August 27, 2018, 11:28:14 AM
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Yes that right , hodl is bad idea to make money in crypto because all price of altcoin in high fluctuacion and actually we can make more profit from it by learn about trading strategy. Hodl just make missing out to make big money, because many altcoin going back to the bottom after all the times high.
I have seen a lot of people who just got into this space because they heard they people who invested long time ago have got extremely wealthy and they could do so too. However, what they forgot is that people who invested years ago kept holding during the storms the market brought with it, but since they know the long term value of what they were holding, the cared less about it. Only people who are not ready to understand the potential of bitcoin may hate to hold it for years. It can only be hard to control if you do not know what to expect at every point in time or to know how to go about making investment decisions. All the people who are good in analyzing and predicting the future of bitcoins, will never say holding is not good nor advisable. I talk about only bitcoins. Holding bitcoin is highly advisable! |
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56
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Economy / Gambling discussion / Re: thinking quiting after lose on gambling.
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on: August 27, 2018, 11:08:10 AM
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It is a sign of being addicted in gambling. I honestly got the same experience of it before but not too much, as I remember it happened to me only two times, I had a weekly campaign that I joined before and after I got payed every week I spend it all on gambling after I lose all of it in that week, and bet again the other week with a thought that I will recover what I had lose, but ends up losing all of it
I am happy that you learnt your lesson. It is fine to lose money if you gained such a valuable thing. Gambling can never be a source of income and this is the reason why it cannot also help you or anyone in recovering the lost money. So the best is to not play this game but is fail to do so then better is to not at least try recovering what can’t be recovered. There is literally two option, keep gambling or leaving gambling all together. Now if you do not have any money left or you have played with money you shouldn't that means you should definitely quit. If you gambled with money you can afford to lose and just unhappy that you lost you can again leave but I suggest giving games like poker or sportsbetting a chance before you leave all together. That way you at least play something that you can adjust the odds or play against other people and not purely luck based gambling. |
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57
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Economy / Gambling discussion / Re: Shyness in gambling
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on: August 26, 2018, 05:00:13 PM
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Shyness in gambling will always harm you in a different way because if people come to know that whether you are a gambler than it will hurt you much. Not only if you lose money through gambling it might affect your family in a different way, while gambling you have to be very careful.
If a person is addicted to gambling they why will he shy to play gambling? I think that only new comers will feel shyness while playing gambling tell they become familiar and addicted to gambling. I myself felt shy when for the first time in enter a casino but never after that. on average it is indeed a person who is the first time to play gambling who feels such shame, because there is no previous experience so there is nervousness when playing. after getting used to playing gambling, of course nervousness will disappear by itself This shame doesn’t come due to first time in gambling or something related, no. rather they are feeling bad and shamefulbecause they are going in casino and trying to earn from a fake source. Their minds are covered with greed factor and they don’t let anybody make them understand the losses attached to it his harmful game. So better is to not be shy before someone. I'm sorry but I don't quite understand your point. fake source? Casino's are paying real money, how can you call it a fake source. Perhaps you haven't seen any casino's yet. That's human instinct, if its your first time then its ok to be shy. But once you know your way around a casino, how to bet, what machines you wanna play all those shyness will be gone in an instant. I think calling gambling or casinos as a fake source of income is correct. Generally speaking, Gamblers have a mindset that they can earn big amounts of money from this game which indeed is just an illusion. That is why, gambling is a fake source. Moreover, if someone does not feel fine while playing this game, he should stop wasting any more time here. We must quit gambling if we feel shy while gambling or due to the consequences of gambling. Because, people are unable to quit gambling due to no reason for them to quit. Instead of overcoming shyness while gambling, it would be much better to quit due to shyness. |
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58
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Economy / Trading Discussion / Re: 2 tips in trading for beginners
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on: August 26, 2018, 04:34:30 PM
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1. Know yourself. Define your risk tolerance carefully. Understand your needs.
To profit in trading, you must make recognize the markets. To recognize the markets, you must first know and recognize yourself. The first step of gaining self-awareness is ensuring that your risk tolerance and capital allocation to crypto and trading are not excessive or lacking. This means that you must carefully study and analyze your own financial goals in engaging crypto trading.
2. Plan your goals. Stick to your plan.
Once you know what you want from trading, you must systematically define a timeframe and a working plan for your trading career. What constitutes failure, what would be defined as success? What is the timeframe for the trial and error process that will inevitably be an important part of your learning? How much time can you devote to trading? Do you aim at financial independence, or merely aim to generate extra income? These and similar questions must be answered before you can gain the clear vision necessary for a persistent and patient approach to trading. Also, having clear goals will make it easier to abandon the endeavor entirely in case that the risks/return analysis precludes a profitable outcome.
Hope this could help some newbies in trading crypto
Quite some good tips and I believe they can help a lot. Another thing is that most of us here don’t even care about checking the market cap of the coins they are going for, they just jump in judging by the price of that coin. Let’s not forget that coinmarketcap is a good tool to check informations about any coin and it is very reliable. I don’t really have anything to add apart from what I just said right now, others have already given the needed tips. I have seen hundreds of tips across this forum but while trading I never recall them to use for my trading. I guess I am not the only one doing like this. |
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59
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Economy / Gambling discussion / Re: thinking quiting after lose on gambling.
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on: August 26, 2018, 04:03:23 PM
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It is a sign of being addicted in gambling. I honestly got the same experience of it before but not too much, as I remember it happened to me only two times, I had a weekly campaign that I joined before and after I got payed every week I spend it all on gambling after I lose all of it in that week, and bet again the other week with a thought that I will recover what I had lose, but ends up losing all of it
I am happy that you learnt your lesson. It is fine to lose money if you gained such a valuable thing. Gambling can never be a source of income and this is the reason why it cannot also help you or anyone in recovering the lost money. So the best is to not play this game but is fail to do so then better is to not at least try recovering what can’t be recovered. You are right, usually people think that they get their money back and they gamble more after they lost but they lose more money in comparison with the beginning. When you ask gamblers, they mostly have got this answer to reply. There is a greedy factor involved in this gambling thing. Once you lose money from game, you are tryingto get things back. But soon, you might understand it isn’t so easy to get this. Then you try more money to grasp big chances and opportunities but still everything just ends up being more indulged in this gambling. |
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60
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Economy / Trading Discussion / Re: Right now should I wait to buy ?
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on: August 26, 2018, 03:33:41 PM
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I think, now is the right time to buy because almost all coins have a low price and you can buy at a low price, then wait because the coin price will improve again and by the end of the year all the coins will also go up
Exactly. The lower price offers an incentive for investors to invest in the asset because of the lower cost of investment. This pay off in future no doubt what happens. The technology is in the early stages right now and the marginal productivity of the technology is still great and has high chances of giving away handsome money. Moreover, an investor quest for profit maximization and as long as one is able to earn profit, momentary price appreciation and depreciation does not matter. |
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