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Alternate cryptocurrencies / Altcoin Discussion / Re: why some are still loosing money in crypto
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on: July 25, 2021, 02:44:01 AM
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if you have been in 2017 you experience ups and downs of the market, lots of gains but lots of losses in some, but even though you have been through those times, still you haven't learn to correct those mistakes, I think there are lots of things that changes your view regarding the market and this are the following: - You follow a persons advice through his social account post example is Elon musk
- You still believe that a certain coin will come back from the dead even though you already knew its a scam
- you just follow your instinct and never make single research
- emotions still control you to decided
mostly I see people who are successful in crypto have spent lots of time, before they reach where they are, yes there are things that are associated with luck but don't just depend on it. The biggest mistake most people make is a lack of patience and being greedy. they need to discipline themselves. pe patient when to buy and when to sell and do some research and I mean deep research. Be vigilant. you can listen to others' advice that why we have this Bitcoin Forum, to share thoughts and opinions about bitcoin and its future but in the end, it's you to decide and judge the real situation in the market.so do deep research and be patient always The key to successful investing in cryptocurrency is patience, because most people panic too quickly if they see the price of coins purchased suddenly fall. Even though if we have bought potential coins, there is no need to panic if the price of the coins falls, because usually the potential coins will recover quickly and the price can go up again. The next causes us to lose money when investing in crypto, we are not able to control our greed. If we have reached the target we set, sell immediately, don't delay taking profit, the price of the coins we buy can drop suddenly. In conclusion, I agree that the reason why people fail when investing in crypto is a lack of patience and not being able to control greed. So fix these two mistakes, then it will be easier for us to be able to make a profit. Another problem is that they also start out with too much of their total capital available. They either panic because the price could drop or they panic because the fear of missing out. If you are moderately getting into the market with small steps, investing a fraction of what you have available every couple of days, you reduce your downside risk but also your upside potential. Yet it let's you sleep better, you are part of the market and get to learn to deal with the market exposure. |
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42
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Alternate cryptocurrencies / Altcoin Discussion / Re: Is Elon Musk manipulating the market?
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on: July 22, 2021, 02:35:58 PM
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Everyone is sad after knowing what Elon is actually doing, in the end we know, Elon Musk supports cryptocurrency only for himself, to benefit, by carrying the name tesla, after some time, he started to undermine that trust, and now I myself will not follow what elon Musk is rumored again.
The way Elon tweeted was provoking that is true, and he wanted to play around a bit. But from another standpoint it is also unfair to say that anyone who is a multi billionaire and can move a market is also a manipulator. It's like when Warren Buffet announces the purchase of a certain company has been completed and it goes up afterwards by X%. Does he manipulate the market? Should he be forbidden to talk at all in public? That's a delicate topic. |
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43
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Alternate cryptocurrencies / Altcoin Discussion / Re: why some are still loosing money in crypto
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on: July 22, 2021, 02:33:21 PM
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THE crypto trading space is meant to function that way. it is a market place. some buy low and sell high while some buy high and sell low. another man's high can be your low and another man's low can be your high. the market is unpredictable and no matter how expert you are, you are susceptible to loss. it is obvious that you can loose your money anytime.
Another thing is, many people only follow crypto when the trend is positive, so most of them buy coins at high prices. after all, they think that the crypto world is just a moon train. they forget that it is a roller coaster that can go up and down at any time. because they are not ready to take the risk, many of them sell when the price drops. That's a very good point and probably one of the main reasons for those who lose money that they do actually lose money in the beginning. Another reason is that we shouldn't forget that in various phases in the crypto market the whole thing is a zero sum game. Someone must lose for someone else to win. Now some will say no, everybody can win, but that's not the case unless it goes up forever or never goes down again and stays stable, but those who bought at $65k are now obviously in a loss zone for someone else's realized win zone. |
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44
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Alternate cryptocurrencies / Altcoin Discussion / Re: Do you have patience to count from 1 to 100?
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on: July 22, 2021, 11:57:47 AM
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Now there are three questions in America. 1. The sluggish economy 2. High inflation 3. The outbreak of the epidemic.
Dow plunges nearly 900 points on July 19 2021.Bitcoin drops back below $30,000 yesterday.
All are disappointing signs. Many investors plan to sell Bitcoin.Most people lose patienceIn for cryptocurrency.
But In long-term trading, in addition to knowledge, patience is more important than any other factor.How do u think of it?
Well, in that case if any of the community here in cryptocurrency are impatience no wonder why they are too frustrated about what is happening now in the price of Bitcoin in the market. But it is true that for the long term holders this thing certainly doesn't matter for them, instead they are positively for it at all time or most likely. But it is also difficult to determine what long-term means in crypto. I think that the market has defined a whole new scale for what is short-term and what is long-term. When you invest in companies it takes ages to see magnificent results. If a company doubles its market value in a year that is a remarkable result. If Bitcoin "only" doubles its price in a year, it was a bad year for crypto. I find it difficult to even define what a realistic long-term vision for an investment in cryptocurrency could look like. It is just different than the markets we are usually used to. The expectations are outrageous compared to other markets, but kind of normal in this market. |
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45
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Alternate cryptocurrencies / Altcoin Discussion / Re: Why do people still use ETH?
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on: July 22, 2021, 11:38:20 AM
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People still use ETH because of the promise of ETH 2.0. ETH has also built a very solid community and is so widely used that it just makes sense as a developer to build on it. There are other projects like NEAR that already do what ETH 2.0 has promised to do, they just don?t have the hype behind it that EHT has. I believe that in the future cryptos like NEAR will become more widely used. I believe that many projects will build bridges to Ethereum like NEAR has to reek the benefits of both. As crypto becomes more wide spread i believe that projects will work with other projects to get both benefits and that?s why ETH will always be the queen of crypto behind Bitcoin. There will be other alts that get close but won’t quite reach that status!
And I think there is substance to the promises that Vitalik Buterin makes. So far he has always delivered the technology he claimed to be delivering, albeit it sometimes happened with some delay, but I think that is fine. People now trust again that what ever has been discussed and promised will also be delivered. If they can achieve a decent scale for Ethereum I think that will give the price another push. |
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46
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Alternate cryptocurrencies / Altcoin Discussion / Re: Are all altcoins dependent on Bitcoin?
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on: July 22, 2021, 11:35:51 AM
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Yes and that is where most guys in the industry agree upon already. As Bitcoin is so similar to gold it will probably forever remain a kind of reserve currency for all other cryptocurrencies that might be launched in the future. But I would say that crashes in Ethereum could also lead to other coins getting dumped. Ethereum also has a bit of a reserve currency characteristic.
All altcoins come from Bitcoin, whereas all ERC-20 and ERC-721 tokens come from Ethereum. This explains why Bitcoin acts as the reserve cryptocurrency of the market, while Ethereum acts as the reserve cryptocurrency of tokens. Without these big players (BTC and ETH) leading the way, other cryptocurrency projects will be doomed. As I've said many times before, Bitcoin is the original cryptocurrency which started it all. Without it, none of this would've been possible. Unless a new cryptocurrency with a new technology superior to Blockchain comes out, everything will remain most likely the same as it is right now. Altcoins will come and go, but Bitcoin will become stronger than ever before. It doesn't matter if altcoins are dependent from Bitcoin or not. What matters is how useful the coin is for mainstream payments. As long as an altcoin has real use cases for the mainstream world, nothing else matters. Just my thoughts  While I mostly agree with your description, it ultimately leads to Bitcoin ruling them all, including Ethereum of course. When Bitcoin drops, everything drops including Ethereum. When Ethereum drops and Bitcoin doesn't, all tokens on the Ethereum network also drop. It has to do with Bitcoin also being the best and most important indicator we have. If Bitcoin moves significantly, there is definitely a reason involved that affects all cryptos anyway, like outright bans of cryptocurrency. That's why we need another Bitcoin bull run, and a Bitcoin bull run only to also see all other coins go up!  |
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47
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Alternate cryptocurrencies / Service Discussion (Altcoins) / Re: Why the hate on binance exchange
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on: July 22, 2021, 11:32:49 AM
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Is there any tangible reason why binance exchange is been hunted? It seems they just hate success or what? Anyways no matter what they try CZ is a determined fellow, that's why binance made it this far, it's my best exchange and won't be changing any time soon
Those hates will not prevail, Binance is doing great and helping the community and new investors to invest in Cryptocurrency, they have an academy on how newcomers can enter Cryptocurrency in the right way, and you can easily trade on Binance and all the coins listed are profitable they are the leaders in the exchange industry and competitors are trying to bring them down, but they are not going to suceed. That hate is probably going to prevail I believe. As I said before as long as they have such a large market share they will also have a lot of enemies. The edge they have over others is insane. I wonder how much CZ is making on a single day. That's where the jealousy kicks in probably. |
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48
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Alternate cryptocurrencies / Altcoin Discussion / Re: Reasons to use ETH
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on: July 21, 2021, 11:03:50 PM
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many new projects are under bsc but there are a few that is created under etherium .
their devs can be a die hard eth fan and they still believe on the potential of eth and about the project with multiple chains so far i joined one of it and they are partnered with kuckoin .
soon this can be a thing but it was a little hassel to create a new network and transfer to one chain from another when transacting.
however, ethereum is a pioneer for the growth of smart contract networking platforms. ethereum has been the inspiration for the development of several other smart contract networks. even BSC and RSK are also built from the development of the ethereum smart chain. that's why until now ethereum is still too strong even for BSC which got the biggest adoption this year. eth was like a bitcoin. if btc is considered as the father of all cryptos, the eth is also the father of all the smart contracts. this is why some projects are still under the eth because they show a respect but not only new projects, i believe even the founders of other chains do also have a respect to etherium but we cant see it because they dont show it publicaly. It's not just because a coin is the father or the oldest or whatever, but all the development and scrutiny that has been put into writing the code. These platforms have a history of security and proven that they work. Ethereum works, but that doesn't mean smart contracts built on top of it can't be hacked. That has nothing to do with the base layer itself. Bitcoin and Ethereum proved they work and can't be hacked. That is a major reason why people use the two a lot. |
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49
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Alternate cryptocurrencies / Service Discussion (Altcoins) / Re: Why the hate on binance exchange
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on: July 21, 2021, 11:01:35 PM
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everyone knows binance is a new force in the crypto market, and they love it. no one hates CZ or binance. everyone respects him, he is a smart and experienced person. binance was able to get big and thrive thanks to him. This centralized exchange is the best and always creates innovative breakthroughs. just look at their Dapps platform, BSC can compete with ethereum. this is a great achievement.
if because of all that binance to be hated, then those who hate only people jealous of its success.
But isn't it as with any other market that once a new force appears there will also be enemies fearing to lose their place in the industry? I said that before here, not everyone is happy if a business like Binance pops up and conquers the market. Other exchanges might try to harm Binance and I believe that could be a very plausible scenario. That happens in all kinds of industries, take Apple vs. Samsung. Since Binance is a relatively loosely regulated exchange with often times not even a KYC procedure, I believe those exchanges who are subject to KYC would like to see Binance have some trouble. |
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50
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Alternate cryptocurrencies / Altcoin Discussion / Re: Is it safe to invest in BNB now?
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on: July 21, 2021, 10:50:16 PM
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Yes, Investing in BNB is safe as it already proves a lot of things to us, it has so many partnered tokens so your BNB is safe, and expect that it will increase its price in the future. The proce of BNB is still cheap as of this day so I advise you to buy more and hodl it as long as you can it would be better in a long term. I guess this is the best time to invest in BNB because of the current market conditions. You will buy at a cheap price that will yield great profits in the future. Binance coin has all it takes to rise soon, as it is the native token of the finance chain.
That's true, always remember to buy at low and sell at high, that is the basic knowledge you should have in crypto If the investment was "safe", how does the investment justify a return then? Doesn't the theory of risk-reward also apply here? I learned that when you have a safe investment in the literal sense, there is nothing to be expected (or very little) in terms of ROI. I believe that rule still counts. |
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Alternate cryptocurrencies / Altcoin Discussion / Re: Are all altcoins dependent on Bitcoin?
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on: July 21, 2021, 10:48:45 PM
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yes in my opinion all altcoins depend on bitcoin because if bitcoin market down all alternate coin goes down . we say bitcoin the mother of cryptocurrency. in future whays heppen we dont know but present time all altcoin depend on bitcoin....
it's true because basically bitcoin is one of the references for altcoins to adjust prices, but not all altcoins refer to bitcoin in the sense that only those connected to bitcoin can be said to be like that. There are many examples of altcoins that don't follow bitcoin like bitcoin cash etc. Don't generalize all altcoins are all bitcoin because some are not. The trend still relies the most with how Bitcoin market moves, though you are right it shouldn't be generalize but instead work on with the project that you understand more clearer, the market for now is moving against Bitcoin if you trace it back from the last time high. Tell me one single coin (except for stable coins....) that completely resisted a hard Bitcoin crash. Like Bitcoin crashed 25% within a week or even more and there was this one coin that even went up consistently, not only once because it got pumped. I am sure you won't find one. If Bitcoin crashes really badly, the whole market goes down. |
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Alternate cryptocurrencies / Altcoin Discussion / Re: Why do people still use ETH?
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on: July 21, 2021, 10:47:14 PM
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Let's discuss what alternatives to Ethereum currently exist? Let's figure it out together!
BSC ? their platform are more cheaper and fastest and also they had wrapped coin that makes more cheaper to move asset from one coin to another. I don't use DEX because I'm quite comfortable with regular exchanges and I've never been staking or for the purpose of earning interest other than trading. so I don't know what causes you to be charged more between. in BSC it seems that everything is low from that much to regular transactions to swaps. It can't deny that many were moving to the BSC platform when there is a surge of ETH gas fees. We do understand the situation and of course, we choose those platforms that could help us, instead. But we are done already, ETH gas fees are lower down and the chances are that people will turn back using ETH as we know that majority of the projects are supported by ERC-20. But anyways, the BSC platform keeps growing bigger, the competition is getting stronger between ERC2O and the BSC platform. And it is up to us which one we gonna used where we can save some fees. You are also kind of bound to the platforms that offer the network effects you are looking for. One day when all these application have real world usage you don't want to be holding dozens of coins as fees for different multi purpose platforms. An example could be an Airbnb app if you have that on Ethereum, but an insurance app on a totally different platform that they either don't cooperate or you have to hold different gas fee / transaction fee tokens. If you have the insurance app and the Airbnb app on one network, you might be able to buy both with one click (assuming you would have to buy an insurance of course). The more apps on one single platform operate, the higher the overall network effects. That's why most users gravitate towards Ethereum or Binance Smart Chain. |
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53
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Alternate cryptocurrencies / Altcoin Discussion / Re: Why do people still use ETH?
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on: July 20, 2021, 11:16:40 PM
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I don't quite know what the exact stats right now are when you compare usage of ETH vs. BSC, but they use it because there have been so many ICOs on the Ethereum platform and they hold all these tokens. It is in their best interest that Ethereum as a platform succeeds such that there tokens can also succeed. Maybe so are hardcore believers, and others might just feel stuck and see no choice other than sticking to Ethereum in order to protect their earlier investments.
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54
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Alternate cryptocurrencies / Altcoin Discussion / Re: Are all altcoins dependent on Bitcoin?
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on: July 20, 2021, 11:14:33 PM
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yes in my opinion all altcoins depend on bitcoin because if bitcoin market down all alternate coin goes down . we say bitcoin the mother of cryptocurrency. in future whays heppen we dont know but present time all altcoin depend on bitcoin....
it's true because basically bitcoin is one of the references for altcoins to adjust prices, but not all altcoins refer to bitcoin in the sense that only those connected to bitcoin can be said to be like that. There are many examples of altcoins that don't follow bitcoin like bitcoin cash etc. Don't generalize all altcoins are all bitcoin because some are not. It is the case although I sometimes hope the day will come that literally every single other coin follows Bitcoin. By now there are too many different coins if you look at how similar they move to Bitcoin. There are other algorithms, other functionalities and much more differences. The biggest problem I see that might impact every single coin is when cryptocurrencies as a whole get attacked or punished by law and regulation, but that is not always the case. When China bans Bitcoin mining, why would all PoS coins go down as well? Or why would coins go down that get mined majority in other countries? That is a bit odd. |
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Alternate cryptocurrencies / Altcoin Discussion / Re: Is it safe to invest in BNB now?
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on: July 20, 2021, 11:11:49 PM
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When I have learned one thing in crypto, sorry, but it is to never listen to people who think they know quite specific dates at which the market will move in a certain direction. What do you base your conclusions on? History? Or do you have secret information others don't have?
Who do you ask? because I say it is not based on history or confidential information, because I am also not a fortune teller in the crypto space, I'm just saying this because I am more optimistic about the crypto market and also have too much faith in cryptocurrencies The problem I have with your statement is that you put it in a way that it is 100% guaranteed crypto will go up in September. Hell who knows when it goes up or down, nobody knows! The only ones who know maybe those who can either pump or dump the WHOLE market or at least Bitcoin. That's at best the exchanges, and I suppose only if they cooperate. |
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56
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Alternate cryptocurrencies / Altcoin Discussion / Re: How do I know if an altcoin is a scam?
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on: July 20, 2021, 11:09:59 PM
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A very common practice in scam coins is that of Premining. That is, the practice of privately mining a new coin before the public sale and/or release. In the most blatant example, a coin developer sets an extremely low mining difficulty level, mines a certain amount of the coin, and, after a certain amount of time, publicly announces the release. There are less obvious methods of achieving a prominent effect, such as a last-minute announcement of the launch through an obscure publication.
With the dawn of tokens anyone without programming skills has been able to issue scam tokens.
There are far too many scam tokens around to talk about them, always DYOR but, if I was to advise you, only trust bitcoin!
The premine scam was a common fashion in the early years, but for now at least as far as I can see it, it doesn't exist anymore as PoW is also quite out of fashion. One of the biggest yet successful premined coins was DASH, former Darkcoin. The developer mined a ton of coins for himself before getting others involved seriously in the process. If you recall how DASH exploded later on, the guy made tons of money. But there are enough other ways to scam, actually endless ways you could say. |
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57
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Alternate cryptocurrencies / Service Discussion (Altcoins) / Re: Why the hate on binance exchange
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on: July 20, 2021, 11:06:49 PM
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I don't know if this is a plausible idea to you guys, but since Binance is dominating the market in such a hard way, do you think it is possible that highly regulated exchanges like Coinbase could be involved in Binance having trouble? I mean the best that could happen to exchanges like Coinbase is if Binance gets into trouble, users lose trust and switch over to another exchange. I wouldn't rule that possibility out.
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58
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Alternate cryptocurrencies / Service Discussion (Altcoins) / Re: Why the hate on binance exchange
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on: July 19, 2021, 07:20:10 PM
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Is there any tangible reason why binance exchange is been hunted? It seems they just hate success or what? Anyways no matter what they try CZ is a determined fellow, that's why binance made it this far, it's my best exchange and won't be changing any time soon
I honestly appreciate CZ's hard work in raising Binance... when something gets big out of control then the government will try to control it. currently, Binance is banned in my country but I am still actively using it because I trust Binance more than my country's government. Are you guys talking about Thailand's SEC criminal complaint? I don't know if they are even operating in Thailand, but it will be interesting to see how the Thai SEC is going to press charges against them. Are there any other criminal complaints against them? |
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59
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Alternate cryptocurrencies / Altcoin Discussion / Re: How do I know if an altcoin is a scam?
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on: July 19, 2021, 07:10:35 PM
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LOL.. rather than finding out whether a project is scam or not, it is easier to find whether it is genuine. Because more than 95% of the new projects look like outright scams or cheap copycats. So in case a project stands out from the rest, with aspects such as unique idea, continued development, quick response to bugs.etc, the you can shortlist it. To invest or not will depend on other factors as well, because a good idea alone can't guarantee success in the cryptocurrency market. There needs to be good marketing, and availability of enough funds with the developers.
If you are looking for a real moonshot you often do have to take some more risk and accept the existing information asymmetry. If you wait until it is obviously not a scam and a good one instead, it will most likely have pumped by then. I know it is a bit tricky, but I always take some of my money and try to be earlier than the rest of the market. The cost that comes with that strategy is to fall for a scam indeed. |
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60
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Alternate cryptocurrencies / Altcoin Discussion / Re: Is it safe to invest in BNB now?
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on: July 19, 2021, 07:06:49 PM
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In this March, I can't make my own satisfactory trade due to my wrong decision and research. But I got some profit from BNB and used buy back policy again and again. Today, I sold my all BNB token at around $245 but now it is still bullish in mood. The next major resistance is located at the $300 level. So I need some suggestions whether I go for buying it again or should I stop here.
I think you left crypto too soon, because crypto prices will increase again in September until the last of the year. It's time to collect large amounts of crypto and hold it until the last of the year. When I have learned one thing in crypto, sorry, but it is to never listen to people who think they know quite specific dates at which the market will move in a certain direction. What do you base your conclusions on? History? Or do you have secret information others don't have? |
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