This doesn't only apply to trading but to every other aspect of life, if you lack of the knowledge of a certain things and then decide to indulge in it with the aim of getting profit from it without even trying to first get the knowledge that you lack you're only going to end up with everything gone. So if you or your friend go into trading without the appropriate knowledge needed the first thing that you or your friend should strive for first once you start trading is to gain experience and also learn how the market work. I know sometimes some newbies with beginners luck tend to do pretty well and because of that they feel that there's no more need to learn about it and at the end they'll leave with nothing in their pocket.
Op, you first try to get the knowledge needed for trading and when you feel you've acquire enough knowledge then you can start trading with small funds (the amount that you can afford to lose) and before you know what's happening you'll be a pro. But just know that you're going to lose tons of money before then but if you're able to withstand then you can make it.
Unfortunately it is the truth, there isn't anything we could do to make those people understand that it requires a lot of time and patience in order to study and be a lot better. Most of the time the learning curve is a bit tricky on most subjects, you can learn more than most people in a matter of days, at most a few weeks, doesn't matter what the topic is, but in order to master it you should be able to spend months and months on it, and that creates the trouble, being better than almost everyone aside from masters, and yet not reaching that master level for so long, makes it harder to put time into it and just want to do it and test their skills, which ends up in a loss. |
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Interesting. Does it mean the report OP shows is incorrect?
I would be happy if it's incorrect. There should always be a healthy competitor. Otherwise, they can force us to do whatever they want. Suppose there are no other exchanges, and you must only use Binance. This is the scariest thing I can imagine. I am not saying their service is terrible. But, Not having any competitors will make them arrogant, and slowly, they won't take care of any problems. They will do whatever they want, and I won't have any choices. An Exchange alone shouldn't have more than 45% trading volume. Otherwise, they will control the market and cannot do anything against them.
I agree that it's definitely not that easy to consider the situation we are in right now, it's not that easy because we are talking about bull period and during bull period too many people are blinded by the potential profits and not the losses that they could make. It is not an easy decision to suddenly stop everything and focus on the potential crash that may come, and I know you suggest that people should be careful about it, but it's not an easy thing to do at all. Just consider 2021 when we dropped from 64k to 29k and then went back up to 68k, people are just not sure if we will crash, or we will have a rebound or not, so it becomes quite tough decision. Well, it is a bit difficult to calculate from the CMC website considering Binance owns it, they put themselves at 9.9 rating whereas the closest is 7.8 with Coinbase, which should be proof enough that they calculate it with a big bias towards themselves. However, assuming that they are right about that, even in that website they are closer to 50% or so, and not 98% by any definition at all. I would suggest it is still basically a big large portion of crypto as of right now and that is understandable considering how large they are, but they are not 98%, huge, but not that huge. Is this a threat? Maybe, only if they turn to be shady suddenly or bankrupt or hacked etc etc, but if not, at this moment, it's fine. |
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It is a known problem based on poor economy education. How many forum users do understand concept of 1BTC=1BTC in any sense? I guess it could be so that a majority thinks that it is a fun meme while this idea in one of senses shows that you haven't lost until you exited into fiat. And it is about investing, you should be prepared to wait long enough and chose assets to invest wisely. So now bitcoin is far from it's ATH and previous peak so it is a good idea for investing. But trading rules are not like that: you need working capital all the time so sometimes you need to close the loss even in a prospective asset to have an opportunity to trade here and now.
Just the sentence of "you haven't lost until you exit it to fiat" is beyond the understanding of many people. I don't get it, why is it so hard for them to understand this, it should be an easy thing to see and it is definitely easy enough to see how it works out in the end, but if people are not entirely sure about it, and they do not get it, and panic sell whenever price moves, then I would say that it is not going to be that much of a help to explain to them neither, they should have understood it a lot early on. I am responsible for myself and I understand it which is all I need, and I am always emphasizing the importance of keep buying and holding for long time, but not sure how many people do find the real meaning and get benefits. |
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If you live this kind of lifestyle and at the end of months, you are running out of money or can't pay the mortgages, whose fault is this ?
There's no one to blame but yourself. You're the one managing your money on where to spend it and what to prioritize. It's fine to do what can makes you happy because you deserve to reward yourself for being a hard worker. However there should be a limit and not come to a point that you're short to pay your monthly responsibilities just because you overspend. That is basically the way generation Z sees it these days. They realized that they won't be able to get rich as much as their grandparents, and possibly not even as much as their parents, and they decided that it is better to just spend that money on what makes them happy, and not worry about the future and what it will happen if they face a trouble. Because why spend 10 years being insanely unhappy by living a frugal life and save to get richer, when governments could ruin it in a single day? So it is better to have a better each day, and then let the problems handle itself when it happens, instead of being unhappy majority of their life. |
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Unfortunately I don't have untouchable savings because every cents has their own goals and I think it would look stupid if there were people who still had savings but couldn't even enjoy life properly because they prefer to keep saving it for things that may not even happen and it will look even more stupid if the amount is big and can be used for an activity that is more profitable than just saving it.
I both agree with you but also disagree with you, depending on how people live. If I am saving and putting money aside and not touching it and yet I still live a decent life, then it's a good decision. If I am saving and I am very much poor, then it is still a good decision because it could suddenly go up and make me get out of that poverty, spending just a little bit won't help, but investing a lot and getting rich later on could. However, if you are like me, neither in poverty nor rich, and have some money, the nit would be a smart idea to sell some eventually and live a better life instead, could make up the difference between happy life and boring life. |
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For me personally, Bitcoin is the king of the crypto market, just like the collapse of Luna had a huge impact on the market. This is just hypothetical if Bitcoin crashes, then I think other cryptocurrencies and the whole market will crash, so I won't invest anymore.
Actually, I personally still believe and bet on Bitcoin, I also think like you, believe that long-term investment will bring quite high returns.
That's not even a guess, it's a fact. If bitcoin crashes then all of the other coins will crash as well and there is no way around it, the crypto market as a whole would look terrible. I do not believe that it will though, I think bitcoin already crashed and this is all it can do, there is no scenario where bitcoin is gone, it's going to be here as long as we live and I think it's quite important to know that difference as well, going down a lot like we did in 2022 and going down to nothing are two very different things and I believe that we are not going to be nothing. However, I agree that if we ever do, it will be bad news for every single coin. |
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If the whole wide world will see and understand that bitcoin is the best alternative way to save up their assets in times of war or difficult situations. I don't think there will be many financial hardships when war or financial crises arise in a country.
The current events occurring all over the world should be sufficient justification for many people to use bitcoin as a store of their assets, but due to how the media portrays bitcoin as a poor financial tool, people are continuing to be hesitant about it.
Thats wrong perspective about war. If we were around the region or country where war is happening we'll understand what the real impact it had made over their living condition. Maybe there are justification, but this isn't the reality with every country continuing the war. Just think of the recent earthquake, everything collapsed and what is left with the people is nothing. Once again from the very scratch they need to build. Bitcoin can be used as safe haven, but how it helps at our critical situation is a question. It all depends on our luck. It is good for both rebuilding your life again, because you invested and made some profits, but it is good for donations as well, people all around the world helped Ukraine during war and now Turkey and Syria with their earthquake as well, in tune of millions of dollars. I remember reading about Ukrainians who fled the nation during the war, would have hard time passing through the borders with valuables, and that is why they put all their money into bitcoin and moved anywhere they want and then they ended up with cashing it out, this way they wouldn't be carrying anything at all, it wouldn't be an issue to "carry" it because it's basically online or at most a usb ledger nano that's it. |
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As in any other investment, the investor in cryptocurrencies must have the qualities that make him qualified to make the right decisions, as well as be patient and bear the great psychological pressure as a result of entering into high-risk deals.
Therefore, in my opinion, this is not wise, yes, children and the elderly should not invest in cryptocurrencies because they carry a high risk, children are not able to make correct decisions regarding these large fluctuations, and the elderly can also be exposed to great psychological pressure that harms their health as a result of their loss sometimes .
Define "children" though? Are you talking about someone who is 7 years old, or 17 years old? If you are fine with people buying when they are teenagers, like they are in high school even if they are on their first year, then I agree with you, anyone in high school should be capable of investing and should learn investing one way or another plus they have a lot of time to wait, they are very young and they have decades to invest and should be fine. However, if we are talking about even younger, I agree that it would require parental supervision to do anything, and how much could they even have? Anytime anyone is old enough to work, they are old enough to invest, and should invest for their future. |
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Is Bitcoin a perfect birthday present for a 25 years old college student? I want to surprise a friend, he is facing a lot of challenges due to his studies and he likes Bitcoin but can't afford investing money because of his studies since he is sponsoring himself, we've been together since 2011 and his birthday is on 27th of this month, do you think 0.03BTC is a cool present 🎁 for a birthday.
Would you love to accept Bitcoin as a Birthday Gift?
One thing to be certain is that you need to keep a check on it. Because, if the friend is not interested in bitcoin at all, and have no idea how to cash it, there could be a time when they ask you how they can cash it out, and in that case you need to keep up with how he can, if he hides somewhere and you have no idea how to cash their bitcoin out, because you want to gave privacy, then you will have a bitcoin that is no longer available and basically burned. So even though it looks tough and not nice, you should be able to keep a finger on that so that if they ever want your help about it, you should be able to move it like they ask, but always keep yourself away from it until then. |
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Not all nations will follow big countries like the USA. Small nations like El Salvador have their own social, politics and economics conditions. They have to choose their best ways to cool down their national debts, economic crisis and they will be first nations that make big changes globally. They don't have big power like big nations but they are countries that will initiate new trends.
It's true not all nations will follow USA, but you're wrong if you think El Salvador wouldn't follow USA because they have a good politic relationship [1] El Salvador use USD as their main currency, it's a proof if USA will have strong affect to them. There are 4 big countries in this world, America and Europa, China, Russia and Middle East countries (e.g. Palestine, Pakistan etc). If USA will ban Bitcoin, China was ban Bitcoin from long time ago, while Middle East countries mostly ban Bitcoin usage, so your last choice is Russia. The volume will be hardly decrease since people will panic selling. I think this is more about how to approach bitcoin over how to approach USD, sure they use dollars but that doesn't mean that they are going to listen to USA until pressured into it. If given the option, they are happy with it and they are going to keep using it. As I look at USA right now, I do not see them approaching bitcoin in a way that they would go as further as telling another nation to ban it, in fact it is not banned in their own nation, why would they tell someone else to ban it when it is not for themselves? People act as if USA may ban it at any moment constantly, and USA keeps on proving that they are fine with it, why make a big worry about it? |
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In this cryptocurrency market people should not create illusions, I remember 6 years ago when someone said that they had to buy a lot of siacoin which in the future would be worth a lot, let's see the result 6 years later: https://coinmarketcap.com/currencies/siacoin/ as we can see, the price of siacoin did not increase much, see that at that time the price of bitcoin was 900$, and the price of bitcoin reached more than 60,000$, but the price of siacoin did not even reach 1$, but at that time that person said that the best thing was to invest in siacoin and leave bitcoin, now let's think about how people who bought siacoin and left bitcoin are feeling today? the truth is that in this cryptocurrency market, bitcoin is the safest investment, altcoins constantly have fights involving their creators, constantly have bad changes see that today even tether managed to reach the 3rd position on coinmarketicap, this was a place occupied by XRP for many years, and where did XRP go that had a legion of fans who dreamed of 6$ a day? disappeared, and why did they disappear? because XRP is worthless, it's been years and it's worthless, this altcoin market is a dangerous market Many tokens are pumped like this and hyped on twitter as well, I can't remember the name of it right now but there was this token which got TT globally, and everyone talked about it like it would be the biggest thing ever and then it didn't even pass top 100, imagine being this wrong, something that they said would be bigger than bitcoin, and not just devs or anything, investors said this and it didn't even crack into top 100. People will be hyped about anything if you just convince enough people, the first 1000 people to convince is the hardest, then rest will be convinced by the first thousand and so forth. I want to say I hope they learned their lesson, but they never do. |
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All the Dump occur because of the SEC because they launch enforcement action against Paxos, the issuer of BUSD. Paxos says that it will vigorously defend itself, and the issue is going to court. But as per the CZ's recent tweet, "Ignore FUD, fake news, attacks, etc." it is clear that both BNB and BUSD will recover the price soon.
All the small investors and Newbies are advised to take extra care because if something bad happens then they won't be able to get their investment back and it will be the same case as LUNA and FTX as they were also considered Stablecoins like BUSD.
And since CZ has confirmed via twitter to ignore FUD, fake news so at least the BUSD holders as well as BNB can be quite calm regarding the recent events, and I see it as just an attack on the existence of Binance which is quite heavily involved in the crypto world , but I agree that all those who own BUSD and BNB must be careful and actually this also applies to all altcoins because anything is possible I think it is expected of him to say something like that. I trusted him before he said anything, I have not sold any of my busd nor my bnb so far and wouldn't have sold any even if he said nothing. And if there is a person out there who was scared of all of this before CZ said anything, why would him saying his own company is doing fine would suddenly make them feel calmer? What was the expectation, him saying that things are not alright and they are bankrupting? Of course not, you tell everyone everything is good no matter what the situation is, but I believe that this was just FUD and some people who dislike binance spread it. |
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Bitcoin may have opponent in finding investors but it always find way to increase its value than to decrease .
I mean each 4 years? the bottom is changing but same as the ATH, so this means the support of the people always stays in Bitcoin.
Effect? yeah of course but negatively? I am not sure mate because as I am aged here in this forum that I watched the coming of hundreds if not thousands of altcoins? I see no bad effect at all in long term.
It doesn't even need to find new people who would invest, which it always finds anyway but it is not a must. It just needs to get the people who sold and got out back again and buying. If they sold, that means they can buy again, they once did, and those people could take it a lot higher. Plus, you don't need to really just buy to make it higher, buying is one side, but "not selling" is the other side, sellers could dictate the price by making it more expensive for buyers and that could increase the price as well. Combine these two things together and we are going to end up with a much higher price even without needing any new buyers at this moment. |
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Are we now on crypto bull run or this yet to be go down futher more down than 15500?
As some community members say here in the forum, I want to believe that we are gradually entering the bull run, because, in the past few weeks, I have noticed that bitcoin dude is increasing gradually. Even if we say that it is difficult to predict the movement of the market, I can still say that bitcoin often gives unexpected things to its holders, to be honest. But this is just my opinion, as long as I continue to accumulate bitcoin as much as I can. All those members are saying that we are getting closer to a bull run because we have seen similar things happened before, we know that it could be increasing constantly and we know that it could have a big break out as well. How do we know this? Like I said, we have seen it happen before. All these crashes and small up and down movements and anything like that, all happened before and this isn't a new thing for none of us, since we have seen it crash like this before and then recover, it allowed us to have a trust in bitcoin and know that it will repeat itself again and it will go up again, which will be an awesome thing for all the people who are holding. |
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you said it will be bear , but week after your post here? bitcoin price reacted to 24k and near 25k lol.
and also I may not believe that there will be ATH but I think we can call this as Bull market shorter than 2021.
There is definitely a lot of people who always think that bitcoin will be a bear market. It's either not really knowing much about the markets and the history of bitcoin which is why they are this wrong, or it is about the fact that they do not really know what bear or bull means and they just think we are in the bear market even right now just because price is low, when in fact bear market just means crashing and we haven't been crashing for a while. We are already not in bear, and we are getting into the bull as well and that should be the key lesson to people who still think that we are doing terribly, we are not, it doesn't have to recover it all, just a bit up means it's all good. |
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The market has had swings during February, but I believe this is not bad sign for bitcoin as basically the price is just looking for new support before going high. I think correction is needed as that would only provide good opportunities to buy some, and now is the real time to take advantage. I'm trying to get some optimism about the February move, but some FUD have affected the interest of traders and investors I think.
The market started swinging higher since January. Bitcoin is currently in a February high swing. For many investors who have invested from $15,000 but are now profitable. Although we may not be able to use the dumping market, those who are mainly professional investors have used it. The market has come out of the dumping situation and now from the high level, joy has flowed in the mind of every investor. Honestly, you do not even need to be a master in the crypto world or trading world to see that when it was dumping, it was the best time to buy. I have started buying as much as I can since 38k range, and from there to 15k I kept on buying whenever I got any money, and that was good because it stayed around and under 20k for a very long time, which allowed me to accumulate a lot. People need to realize that bear markets are the perfect time to buy, because it means we are getting closer and closer to the bottom and eventually hitting it, "bottom" in that situation means as low as it will ever get, then what else is left? Only going higher would be left in that case. |
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Ok so this is a little down the road from here but assuming after the next halving and bitcoin goes into another bull run, when would be a good time to sell?
In all honesty, no one can pinpoint the exact date when the bear will come upon the market. However, we can predict the year expectedly anyway; nonetheless with the mindset that we are also in a highly speculative industry where anything is possible. The way I like to judge my prediction is to expect the bear season two years from every Bitcoin halving year. I've taken this into cognizance from my two post halving experiences and it seems to work pretty well. For instance, from my speculation based on what I just explained, the next bear after the coming halving in 2024 will begin in 2026. It happened on 2018. Repeated itself in 2022 too. By that logic it means a year from the halving is also a bull market and we are out of the bear market right now and the bull market is ahead of us. That is basically the way we can calculate the cycles, the first year of bull market its going up, but not insanely high, just recovering from the bear market, the second year, 12 months after the halving, we start to have a bull market and eventually reach the ATH that we set, and then 24 months after the halving we are in a bear market and the cycle keeps going like that without a stop. I believe that we are out of the bear market zone now, but not into the full-swing bull market zone just yet, but with time, we are getting there next. Exact market reversal time is highly unpredictable hence not bothering and holding across 2 or more halving event will get big profits for sure. |
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if you wanna be a hotshott in the crypto world, you gotta have some self-awareness and discipline. Know what you like and can handle, and only then should you make any decisions. And let's not forget to take a peek at what the markets doin' - are ya gonna trade or invest? Either way, if you wanna see som long-term gains, try scooping up those coins when they're cheaper than the top dogs. But hey, don't get too cocky - this crypto game is a wild ride, and there are no guarantees. Its like a box of chocolates, you never know what you're gonna get. So don't put all your eggs in one basket, buddyy. Diversify your portfolio and do yur own dang research. Keep up with the latest gossip, err, I mean news and trends, and don't put more in the pot than you can afford to loos. In the end, its all about havin a long-term mindset and bein willin to roll with the punches. Or in this case, the volatile and unpredictable crypto market.
Those type of "fine tuning" of your skills and your desires would get you a long way in the crypto world. It's not a thing that you should be doing as a suggestion, but it is a thing that you have to do as a must. Without having further information regarding crypto, and what type of skills that you need to learn and which of them fits you the best, you wouldn't be able to actually get away with anything and you would make a loss. But, if someone follows your suggestions, they will end up with something much bigger and better, it will allow them to make a lot better solutions and would allow them to have a better understanding of how they can navigate such a difficult market. |
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For me, really matters here is how you will make your private keys or wallet seed phrases safe. Because let's say even if you use a hardware wallet but you store your wallet seed phrases not secure, it is still not safe at all. The downside of software wallets sometimes is just your device where your software wallets are stored is compromised or even your seed phrases are very prone.
There are a lot of suggestions how to store it, and if you still do not store it properly then maybe you shouldn't have a hardware wallet. I have always said the same thing and people doubt me but I am going to say the same thing again. If you are investing your money into bitcoin, and you are not really interested in crypto as much as knowing how to store it safely, putting it on a trusted exchange is not a bad idea at all, it's actually quite common. There are billions of dollars in binance, you think they won't know how to store it safely? All those "not your keys, not your coins" is old news when we had shady exchanges, binance will store it safely for you. |
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I'm agreed with you, if a coin somehow listed on Coinmarketcap then it will never delisted from CMC. Yeah 60% is dead/shit coin/scam project still listed on CMC that's why here almost double if comparing with Coingecko. And i think Coingecko's data is more accurate than CMC, because they will delisted shit projects.
I suppose they have different standards, CMC has listed 10k more coins than coingecko, so coingecko seems to be more selective on the coins they list while CMC seems to have the philosophy of listing any project regardless of their legitimacy. I had not noticed this as I have used coingecko for a very long time but it seems the difference on their approach is massive, and anyone using CMC should be even more careful as usual if they are using this service to try to look for new altcoins in which to invest. I think the "different standards" is that coingecko is coming from behind, because it was created later as far as I know, or at least got famous a little later. CMC on the other hand is a company that was sold for 400 million reportedly, don't know if that's true but Binance spent a ton to do that, and they want to list as much as possible to get as many clicks as possible. Remember they do not charge to list you, there could be scammers who would charge to list you, but those people are not CMC, you are dealing with a third party doing something you can do for free. They make money from ads, and the more tokens they list, the more clicks they get, the more clicks they get, the more they charge for the ads. |
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