821
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Economy / Gambling discussion / Re: Will you gamble till old age or not
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on: October 03, 2023, 06:32:22 PM
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There are some people who have a lot of income and it will be right if they gamble. There are some people who have very little income and gambling will not be right. Gambling requires a lot of money and time. But not everyone has it. Those who gamble After getting addicted, they never have peace in their lives. Because they sell all their possessions to raise money for gambling. I sometimes gamble to spend my free time. But when I see myself getting more addicted to gambling, I try to stay away from gambling.
People who live barely enough when they first start gambling will find it difficult to stay away from it, they hope that like others, when they get big money from gambling, this will attract the attention of various people. I have experienced something similar in the past when hopes were high like the others but on the contrary, it was a good experience to learn from. Now playing gambling is just to enjoy fun or entertainment, not the main thing is to make money I would assume that you could just make sure that you are gambling in a limited manner and that could go on for a long time. I can give you myself as an example and I can tell you that I have been gambling for a while now, it has been a few years that I have been limiting and if I can keep doing this for years then I will be able to keep gambling until I am old. Obviously if anything changes, like me starting to play a lot more then I may have to stop, or if I get even poorer which we do not know what life would show, then yeah I would have to stop that too. So long story short, there are situations where this is possible but not all of them would be the same as every other situation without a doubt.
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822
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Economy / Trading Discussion / Re: Do you have any methods to do it?
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on: October 03, 2023, 06:04:45 PM
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Trading really depends on experience. As trading is unpredictable it may not be possible to earn the amount you mentioned by trading daily. As there is profit loss in trading then you may face loss. But it may happen that you can earn more than the amount mentioned. There's really no way to say for sure.I personally like spot trading and sport trading can earn good amount of profit.But if the capital is more, the amount of profit is also more.
The more experience you gain, the bigger your capital should become. The logic is that if you are someone with a great trading experience then you should be making profit, and if you are making a profit that means you should be trading with more money, and if you trade with more money that means you should be making more profit. So that type of logic makes sure that someone with a lot of trading experience could end up making a lot of money, more than you can spend, because your capital will keep on growing. Most wealthy people do not even spend money they have, they take a loan against the money they are using, which is even bigger return since that saves you from being taxed as well. So all in al, I would say it can be done, and it only requires you to constantly keep getting better.
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823
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Economy / Trading Discussion / Re: Let's share some tips among ourselves.
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on: October 03, 2023, 01:21:10 PM
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Risk tolerance should be carefully considered in accordance with the investment funds, investment objectives, instruments, and potential profits. In other words, risk tolerance is the maximum level of risk and the minimum level of risk that a trader can take.
What you should think about in determining risk tolerance is how much loss you are ready to bear to get the expected results according to the time period, investment funds, and objectives.
Risk tolerance is more about how you could take on more risk if you are willing to lose that. Just to give an obvious example, if you went from 20k to 180k then spending 5k on a silly trade where you know you are going to lose but you want to take a shot would be very little risk and not really hurt your balance, you can lose it all and you would be still a guy who turned 20k into 175k and it would all be fine. However, if you put in your last 5k, that's your entire balance and you have no other money to your name and you put that into something silly that will probably make you lose money then you are going to be very upset if you lose it. In both cases it is 5k, and in both cases you see a different level of risk tolerance.
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824
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Economy / Trading Discussion / Re: Crypto Market on the Rise, But Proceed with Caution!
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on: October 03, 2023, 12:40:34 PM
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As of today, yes I agree that we should proceed with caution. For now, it’s a good start for October. Some would say that it’s “Uptober”, but I wouldn’t really gonna count on that though.
Probably a possible catalyst would be the announcement of Bitwise’s application to Ethereum spot ETF, but I bet that not all would agree on this one.
Correct me if I’m wrong, but it the bulls cannot keep the momentum and support level, this would slowly going to pull back and going back where it was originally a week ago.
I still do not think that a single ETF application could make it all that higher and make a big deal. I get that some people love that but that doesn't mean that it will make it grow THAT much. October has been good because people believe those type of things, and because they believe in those type of things they end up with a return like this as well. I am not saying that it will be any different, and I am not saying that it should be a big deal, all I am saying is that we could definitely end up with bigger returns one way or another. I hope that people could see that when they are hyped and seeing it as "uptober" or whatever they are calling it, they are buying because they are hyped, and because they are buying it goes up. Reaching 28k+ is a good feeling but I believe in order for it to stick we need to get to 30k+ levels before we are happy, 28k happens all the time but then drops back again unfortunately.
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825
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Economy / Economics / Re: If They Can Pay off their Debts, Why Don't They?
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on: October 03, 2023, 09:54:43 AM
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Those are crazy debts. However one thing I know, the income which is GDP for every country is definitely progressive as compared their debts. But I see it similar to individual case. Let’s say I’m having House loan and I have X salary. The thing is though my salary is progressional every year I would not put lum sum amount in my loan account to clear it quickly. If I do that then I will miss many opportunities such as investing my money, maintaining my house, bringing new things in my house to make it better, personal care stuff and much more. I would need money to develop those things.
In similar way country needs to look after thousands of ongoing affairs. I’m sure they would also not clear it just like that if they got tenure for it.
When you say " Crazy debts " that sounds pretty big. This is one thing that the OP and others didn't realize. They think it's easy to pay a debt like that. We can't even pay a small debt so how much more a big one right? GDP isn't progressive at all times but it can only for those who are rich countries. Same goes with the salary. Lump sum payment are indeed tough, though I think it also has a benefit. But in my case, I still prefer the other way around of paying. Having a debt is still tough, no matter what is your status in life. So much better if we can avoid it as possible. The key is to have a proper plan, save, and invest so that we will always have a money to be used for something.
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826
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Economy / Economics / Re: The impact of war on global economy.
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on: October 03, 2023, 08:48:15 AM
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Russia has no benefits. More precisely, if the whole world once again turned a blind eye to Russian terrorism, then yes, there would be benefits.
But now Russia is “going to the bottom”, bombarding the Armed Forces of Ukraine with “meat assaults”, having already destroyed more than 50% of its “second army of the world”, its economy, demography, financial system, and having forever lost its partnership with an adequate world.
Crimea does not have any strategic significance - the Black Sea is a closed water area, the entry into which is controlled by a NATO member country, and the entire route “to the world” is also blocked by NATO countries. The only purpose of Crimea is the mental masturbation of the Kremlin Fuhrer, and a convenient place for continuing terrorist attacks on Ukraine.
After Russia's defeat, it will not be saved; there will be no Marshall Plans for it. It will become the world's "bottom" for decades and will pay reparations to all countries that previously suffered from it.
The "profit" is different from not being needed. I agree that war has no profit for humanity right now, it is not a profit to gain a land, maybe it is for the government because they could go around saying that they attacked and got the nation another piece of land, and back in the day that was the case but today even that is not valid. Many Russians literally fled out of Russia not to be part of the army to go attack Ukraine because they do not really want that land, they do not care about that land, only Putin and his people do. And not like you can tell Putin to stop, hell Wagner leader literally tried that and he murdered a mercenary units leader. Imagine being so powerful that you kill someone who has his own personal army. That's why this isn't any profitable to anyone ever, it is the most useless war we have seen in a long time.
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827
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Economy / Economics / Re: Our future with renewable energy.
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on: October 03, 2023, 06:55:32 AM
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If you remember the UK, then among European countries, I think that Germany will be a leader in this direction. But this is a long process and it is not so easy to immediately abandon nuclear energy, especially when it has always been the main source for many countries of the world.
Recently, we have increasingly seen how different countries are trying to use renewable energy sources, but this so far provides only a small part of the required capacity. China is now the leader in the production of solar batteries and they also use them, look, the length is about 80 kilometers, this is impressive.
Germany has enough budget to do something like this because it wouldn't hurt them all that much. I personally believe that they are making this type of changes all before everyone else (along with Scandinavian nations) because they have the budget for it. Try to go all solar in a nation like Nigeria if you can, how would people be able to afford building something like that? They wouldn't be able to do that at all and it makes no sense. It wouldn't be affordable for other nations and it would be fine for Germany. China is doing it because they have the budget for it as well, maybe not every person is living a fine life, they are the nation with safety net in factories so people wouldn't commit suicide, so imagine how terrible life must be there, but the government is quite powerful and rich enough to do something like this.
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828
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Alternate cryptocurrencies / Altcoin Discussion / Re: Should I invest in new projects.
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on: October 02, 2023, 05:55:53 PM
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If you want to invest in a new project, I will give you some advice, how you can find or recognize a good project. You have found a new project, first you need to carefully monitor the website, whaitpaper, litepaper, roadmap, tokenomics to know how that project is. If you understand everything is fine then you can invest.
Suppose you have some amount of dollars. You can invest your fund by dividing it into 3 parts, for example: you can invest 50% in meme coin, there are many other coins, 30% in matic coin, 20% in solona coin. If you invest in this way, your profit will be much higher.
Understanding it is not the point, we should be all trying to make sure that it's actually growing in community as well. It could "write" a lot of things but then if nobody ever feels like they are not interested in it then we should be all caring about it. If you are not careful about it then we are going to end up with a ton of trouble on the long term, if the community doesn't grow then it's not going to end up with a trouble if they do not know what they are investing into as well. So, yes the papers and roadmap should be good, but just because it's good doesn't mean anything and it should also have a very big growing community along with it as well. That would make a lot of return, without the community then you can build the greatest token there ever is and you are not going to be growing at all.
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829
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Alternate cryptocurrencies / Altcoin Discussion / Re: I can't keep up with the High gas fees
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on: October 02, 2023, 03:36:30 PM
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When I mention "high gas fees," I'm referring to fees that surpass the current charges imposed by Visa and Mastercard. After all, decentralized finance (DeFi) aims to compete in this space. Is it reasonable to anticipate that individuals investing thousands of dollars should be content with paying tens of dollars in gas fees for each transaction, especially during what we consider "busy" periods?
What do you think would be a solution to this not everyone would be able to keep up with this especially in everyday transactions?
Why would it be normal or acceptable for you to use that much money to use this? Of course you are free to not use it, but we also need to remember that all those cards charge the shop as well, you do not see it but they do. Depending on the nation, there is a charge for it, and I am not talking about the tax, I mean the credit card, the ability to accept card payments costs the shops some money, in my nation it's 2% per transaction, could be different in some other nations. That means when you make a 1000 dollar payment, that is 20 dollars gone, and if ETH or any other coin charges less, that is profitable. Obviously for cheaper amounts, like sharing 100 dollars, cards are better, but when it grows higher? ETH is still cheaper.
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830
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Alternate cryptocurrencies / Altcoin Discussion / Re: Are trading bots worth using in the cryptocurrency trading?
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on: October 01, 2023, 04:49:52 AM
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The worth of trading bot are dependent on what type of trader you are. Actually I mean for using trading bot first of all you have must know the trading analysis. Otherwise it can be cause for more losses. If you have very little knowledge about trading then trading is very risky for you and if you are completely new then I would say trading bot is not useful for you. However, experts are making their work easier by using trading bots. So it totally depends on you whether using trading board is worth full
If you are a great trader then you customize it in a way that it would do what you would have done and since you are a great trader you would make the bot make great trades as well, if you are a bad trader that would mean you will not handle it well and it will make even more losses because it's 7/24 and you are not. So all in all, I would suggest that people who are newbies in the trading world should not end up making these trading bot claims that they could profit, because 99% of the time a newbie will not make a profit. The only exception would be the fact that if you start on a bull run, everything will go up, so you will think that the bot is working and you are making a profit with it.
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831
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Economy / Speculation / Re: Bitcoin October Month Performance
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on: September 30, 2023, 01:22:32 PM
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It's better to go up gradually than to go up with FOMO which will eventually dump suddenly. A gradual increase will build strong support for Bitcoin to hold when bad news hits and strong support is very important.
Right now we can only collect more even though the price is still stuck. There will be a time when the price will shoot all the way up to the strongest resistance.
Do good management, buy and hold so that you can accumulate more and more assets and eventually get more profits. Do not just sit back and watch the market continuously without any action taken.
Yeah this is the point of buying right now, the price is stuck and it doesn't look desirable to buy it right now, it looks like it is a boring time to buy but the people who buy it right now will be able to maximize their profit when it goes up. Even better, there are people who bought it at under 20k as well, some close to 15k as well, and when you think about it, those people have been in profit for a while now, and I bet that if they keep waiting, they will be even more profiting by the time price starts to go up. The trick of making more profit is not to buy it when it looks great, it's buying when it looks boring so that you would end up investing when you are doing badly, and the price doesn't look good at all.
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832
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Economy / Speculation / Re: Potential events that can initiate next bitcoin rally
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on: September 30, 2023, 12:54:45 PM
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There are many factors to consider when we are expecting bitcoin bullrun but the only one that attract more focus is the Halving, the market will pump and then there will be an increase on the bitcoin market value, because the demand also will increase and then the intended blocks mined will constitute the available bitcoin in circulation after which the miner received the half reward of the mining, as you've said already, there are other microeconomic factors that help with this such as the bitcoin ETF news and development, though this is not highly reflected on a long go on bitcoin price, it only causes a little stir than the significant difference we have during the halving.
Yeah right, halving should be something that makes us a bit more happy about it and we could definitely see it do very well. I understand that it may not be something that would be that easy to handle but at the end of the day we are going to end up with something that profits us one way or another. I think it's quite important to realize that we are going to end up with some sort of money from it, but that is not going to be all that easy, it should be something that would be very hard to handle. I hope that people could feel fine about it because if the yare too late to buy it now, they are going to regret it later on when we break over the all time high price and by the looks of it, halving will make sure that it happens.
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833
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Economy / Speculation / Re: After the bull-run plan.
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on: September 30, 2023, 11:55:43 AM
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Bitcoin is known to be cyclical so it is obvious that the market will go back to being bearish after the bull run. So we should think of ways on how to take advantage of this cycle. I believe selling during bull run and buying during the bear market is the simplest thing to do. Due to the cycle repeating itself, we can just rinse and repeat this procedure increasing our portfolio and profit as the cycle repeats.
Every time there is an increase, there must be a decrease, this is the market law that has been in force so far, the bull run season is the moment that bitcoin investors have been waiting for because in this season there is an opportunity for us to get large returns, but it is advisable to remain careful and don't be greedy when you are in a bull run season because a bear market can happen at any time, like last year's bull run season when the price of Bitcoin soared to its highest price making many greedy people try to make purchases at the peak price because they thought the price would continue to rise to an even higher area, but unfortunately after they bought a bear market came and the price of bitcoin fell slowly so they had to get out of the market with a loss. The ups and downs of the market is something we need to get used to by now, and unfortunately not a lot of people got used to it so far. I think it's quite important to realize that it is going to be a tough one, but we could make it work one way or another. I think it Is quite important to realize that we are going to end up with some return if we are smart about it, but that Is not going to be all that possible if we ignore it. I believe that we are going to end up with something that will make it due eventually and should be important. Greedy is another way of just going all in but if we do that to something that is low cap that would be also a stupid greedy move, but if we do that to bitcoin that's actually a smart move.
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834
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Economy / Trading Discussion / Re: Let's share some tips among ourselves.
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on: September 30, 2023, 11:29:59 AM
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When you do the trading and you want to make a profit in a short period of time, you should also know the risk that you can face there. But if bitcoin halving is a good thing to do, just wait, especially if you are long-term holders of bitcoin. But still, it's still in your hands what you want to do when it comes to these situations.
Because, while we wait for the approaching Bitcoin halving, we can still do DCA in reality, and we can somehow increase our balance holdings in Bitcoin every time we have a purchase of Bitcoin in the market. Let's do this as much as possible, and there are many people who do it, especially in times when the bull run is near. In fact, before everyone is caught, let's not waste any more time. Time is gold in these scenarios.
Short period of time trading is not that possible and it is definitely a dangerous thing to try, there are a lot of people who are making a mistake when they try that and the result is not that easy neither. I believe that we are going to end up with something that would cause us to have a lot of money and if we make even one simple mistake then it's all gone and we are at a loss. Short term trading brings in a lot more risk, and a lot more trouble, so we are not going to end up with a good result all that quickly. I hope that people realize that they need to be a good trader before they can do this, they need to study and be a lot better before they do this in order to make a profit from short term trading.
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835
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Economy / Trading Discussion / Re: DCA on a real account: does it work?
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on: September 30, 2023, 09:48:11 AM
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I was curious as to how you connected trading in the cryptocurrency market with DCA. How does grid trading work for this? As far as I'm aware, DCA is not a tool for trading in this particular bitcoin market.
Are you able to buy bitcoin every day for $100 under current circumstances, despite the fact that DCA is an excellent approach to amass Bitcoin and other cryptocurrencies that anyone believes will provide a big profit during the upcoming bull season or bitcoin halving next year? To be honest, it's not simple for regular folks working in the Bitcoin sector to achieve this.
DCA is a thing you can use at any time of crypto, doesn't matter if it's bull or bear and you could keep using it the more you want. It is obvious that during the bear period you will be collecting, and during the bull period you are going to be profiting, that should how you approach this. I understand that it may not be all that simple but we could make it work one way or another if we are careful about it. Maybe it's not all that easy to handle it that quickly but if we are smart about it then we could probably make some money with it as well. I hope that it gets to a point where we could end up with something that is a lot better and the results will be a lot more profitable if we are careful about it as well.
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836
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Economy / Trading Discussion / Re: Are you on guard for any unexpected?
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on: September 30, 2023, 08:33:48 AM
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The extra money you have saves you from a drastic drop in Bitcoin. You bought Bitcoin when the price was $30k-31k and that was a pretty high price in mid-May.
But at least you have made another gradual purchase or DCA strategy at a lower price, almost half of the first purchase at $17k and you did it gradually.
This will accumulate the Bitcoin that you have so that the average purchase will be slightly lower and you can get a profit even though it does not reach the price of $ 30k and above.
Bitcoin is still safe for the long term and you really need to have a plan. We will still reach ATH in the coming years.
Kind of these type DCA is important but not right now, we have already reached the bottom, at this point I assume that it will not go under 25k and that should be the important thing. I believe that we are going to be something that would be careful and should be very big deal. I get that it is going to be something that would be good enough that it is going to be a bit of a deal when you need to handle, but that could definitely be something that we could care about on the long term. I guess we could just accumulate right now and get it with all our money now, because DCA would not happen, we are not going to see it go lower, so getting it all at under 30k would be a smart move. That is definitely suspect to change though, I could be wrong, it could go down more.
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837
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Economy / Trading Discussion / Re: Do you believe Technical Analysis?
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on: September 29, 2023, 01:04:01 PM
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It has been like this for a long time. People still use past data and present market conditions to predict the future of the crypto market. But recently the market has been moving with sentiments. There could be many reasons why this is happening. The increased number of users, increased number of whales, many big companies investing in crypto/Bitcoin, etc. This can affect the market to some extent where people are influenced by it and they make decisions that are not similar to the past performance. That is why the technical analysis has become hard.
But if you still want to get involved in trading, the first thing you need to learn is the analysis of the market. And what better way to do it than technical analysis? To be more exact, this is the base on which your learning is going to be built. The chances of getting a successful prediction are less compared to the past but it still works. The percentage of success has dropped due to sentimental movements in the market but that doesn't stop us from using technical analysis.
The insane amount of study that you need to make in order to reach to a good level is important and many people try to skip that part. I have seen someone who studied for 2 weeks and assumed that they were doing good, that's not really how it should be done. I believe that we are going to end up with some bad results if we are not careful and studying that little means that you are going to end up with a loss. If you really want to end up with some profits you should be making some profit and that should be the most important part. I realize that there are going to be some cases where some people learn it quickly because they dealt with trading before in other stuff, but if you are not like that, take longer time to learn.
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838
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Bitcoin / Bitcoin Discussion / Re: Cashing Out Thousands of Bitcoin
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on: September 29, 2023, 12:12:29 PM
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You don't want SWAT team breaking down your door on you while you have some good looking bae with you enjoying some movies together, don't withdraw all your money from Bitcoin into your bank account, the next thing that will come to mind is you are into fraud and you will be taken in for questioning.
Even whales don't do this, they only move money into their bank account when they need it, and they will not move millions that could raise some suspicion, I won't dare move more than $20,000 into my bank account, that's if I ever need that much money instantly, anything more than this will raise some suspicion over my account and I could be on watch.
If you have something you want to build that will cost a lot of money, intentionally slow it down, build it with time, and do not prove you have all the money in the world by doing it instantly, you are endangering your safety too, off the bank record, they have your home address and they know how much you have in the bank.
I do not think that SWAT team would knock down your door. First of all if you are not in the USA then you are not going to get SWAT team breaking down your door to begin with, that's just an internet meme that people does but not the reality, they only do that in the USA and only after getting clearance as well, not like they can do it in a second, they do not have SWAT teams all around the nation ready to knock down doors in a moments notice. But, it is even harder if you are in another nation because in that case CIA is the only one that could handle it, FBI looks within, CIA looks outside, and even CIA would just take notice and note you down but do nothing right now. So you can only care about your own government.
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839
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Bitcoin / Bitcoin Discussion / Re: How to keep safe the mnemonic phrase - Whats Your method?
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on: September 29, 2023, 11:32:59 AM
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If you write the seed phrase in a special book and are afraid other people can access it, you can use tricks like changing 1 or 2 positions of the words. That way, even if someone steals your phrase, they can't access your wallet. (You just need to change the position of the two words, no need to change too much to confuse yourself).
Backup your wallet seed as most simplest as possible but make sure you store your backup safely and avoid eyes of other people. Don't try to trick others and consequently trap yourself with a risky backup method. Changing positions of 1, 2 or 3 words in your wallet seed is a terrible idea. You will need to remember it, need to have a note for these positions but if you lose those position order by a memory loss, note loss, you will need luckiness to recover your wallet seed. How to back up a seed phraseYeah, you can care about it on the long term and if you are careful about it then you are going to end up with something much better. Simple stuff like writing it down to your notebook would be simple but effective for many cases. People talk about things like "what if there is a big fire, what if there is an earthquake" and so forth, well if you want it so much then put it on an exchange and as long as you memorize the mail and password you use, you can login from anywhere in the world, of course have access to your mail as well. But if you want more security, then ignore the one in a million chance of fire burning down all of your house, and just go write it down to your notebook and be fine.
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840
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Bitcoin / Bitcoin Discussion / Re: Bitcoin Has Changed My Life 👨💻
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on: September 29, 2023, 08:59:01 AM
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Well it's true and it's obvious that anyone if they really have aspirations such as wanting to succeed then of course they must try to pursue it no matter how tough the journey they will go through, but if you really mean it then there must be a good way that will make you survive. But in reality, there are so many of them who are easy to say but never do it by starting an action, then it's the same and nothing more than just nonsense. Yes, I have also seen some of them who come only for profit or focus too much on profit, they are very ambitious. But we also have to remember that even though investing in bitcoin has the opportunity to change your life, I say it is not entirely because obviously we see that there is also a big risk there that is enough to be taken into consideration.
It is possible but it may take longer than majority of the people assume, it should not be that much simpler. I think it is quite important to remember that you are not going to end up with a result that would be all that simple and we should be expecting something different. I personally believe that the best thing to do in this case would be making sure that we are making a profit no matter what and to do that we need to hold it as long as possible. People want to get rich quick and that's not going to happen, it will not be possible and many will be upset about it. I think it is smarter to just end up with something that would benefit everyone equally and that is not going to be all that simple to wait for many.
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