This is the thing newbies doesnt know.Most of us whos been trading cryptocurrency for almost a year or so already know this pattern the rise the down and the bottom.We cant just go pump and pump every month of the year.This is why bitcoins reputation in public is negative because people buy at peak lose money and then rant it on social media saying bitcoin is a scam and a trap.
I totally agree, they put the blame on cryptocurrency being crap when in fact they are the reason why they lost. This happens when a new trader didn’t do there research, they just randomly trade dependent on there luck without really knowing how trading cryptocurrency works. As a result they lost huge amount of money and to avoid criticisms from other people they put the blame on something else and in this case they put the blame on crypto. |
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I’d want people to learn on their own so they can confidently study charts and know when and how to trade. If you are a Pakistani or Indian then I’d suggest you to go to YouTube and search for “sincere teacher” lectures.
I totally agree, it is better to study and learn it on your own because we all have different approaches and strategies, the strategy that someone is using may not be suitable for you or it may not work for you, thus, learning on your own can help you make strategies that works well for you. It’s okay to ask help from someone but don’t be to dependent on that person, learn on your own, it’ll be hard at first but you’ll get used to it in no time. |
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I prefer sportsbet over casino because in sports you got to see the performances of the team and with that you have high chances of winning since you can predict the winner by there statistics, casino on the other hand, is hard because it is pure luck and no matter what strategy you use it’s useless because you can’t predict anything. And in gambling I play to have fun and at the same time earn money.
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Actually, Google can help you with that. Got this one for you https://www.youtube.com/watch?v=YACeMe6lIJc. It show how Basic Trading works. Although it will teach you about the basics. I suggest not to rely on those, trading can't be learned overnight. Thanks for your answer. Google give me million of names and books, hard to find the good way. I dont want to be the best trader in 24 hours  just learn, try, fail... learn harder, try harder ... ah ah Just do your research and apply it you’ll be better in no time. It is okay to fail, that’s normal, what’s important is you’ve learn from your failures and try not to make the same mistake again in the future. Try and try until you succeed, no one has become the best trader in 24 hours, it is still a long way ahead of you so better be prepared & be patient. |
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I’ll be amazing if bitcoin will indeed reach 1m$, who knows maybe it’ll happen but it still a long way to go we’ll see soon. Anyways, even with bitcoin’s current there are a lot of hackers or scammer already, all the more when more people will adopt bitcoin. If a lot will adopt bitcoin it means a lot will know more about it and all type of scammers will come up.
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In my opinion, considering that they are new to trading it is almost impossible for them to control their emotions but nothing is impossible and I think that the longer they are exposed to trading and once they already got the hang of it then they’ll be able to control their emotions little by little and hopefully they’ll become emotionless or they will have better self control overtime.
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I think gamblers need both, luck because we can’t deny the fact that it is more about luck to win, experience on the other hand, will help the gambler in making the right choices and decision on his/her bet. And also with a gambler with a lot of experience know the pros and cons thus, I think they have more self control over newbies so they will also know when to stop.
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He should listen to you, sometimes our strategy will become useless if we let our emotion dictate us.
I agree, and honestly that is very common to gambler, they tend to do small bets to test their luck and if they win they will bet higher because they are confident it’ll win but most of the time they lose. It is okay to have a strategy but just make sure you also have self control because if you don’t have self control then you’ll be a loser in the end. |
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I think it will be a profitable business, based on what you said that you one of the top 5 africa countries who uses bitcoin so that means a lot will patronize your business to avoid fees from exchanges made through banks. Also I think people find it a very convenient to use BTC ATM.
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I do not think telling a newbie about the price is a thing at all. why will a newbie care about the price in the first place? I will surely tell a newbie to get more knowledge about the markets and trading before getting into one of it.
I agree, well, some may care about the price but the price isn't that important because as well all know the price can drop from time to time, the price right now will not stay forever, either it'll go up or down. I think if we will advise newbies to enter bitcoin we should educate them properly what bitcoin is, trading, it's advantages and disadvantages for them to weigh for themselves if they wanted to invest or not. |
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You are the only who can make a "better answer" on your own concern.
Try to analyzed things and determined the "what if?".
Different people have different approaches and strategy. We don't know why they are buying, why they are buying, why there are hodling etc. In other words, don't bother them and focus on your own.
I couldn't agree more, we all have different perspective in life and it is us who can really decide what to do. Once you have analyzed the ''what ifs'' and you think that you can handle the ''what ifs'' and its consequences, then why not? How will you know it's going to be good if you'll not try it. It is better to try it and if incase you fail it's okay instead of not trying at all you might just regret it. |
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Why not do both?Sell a part of your bitcoins and HODL the other part.I'm not giving any advice here,but maybe this is something I would do.The profit would be smaller,but if the bitcoin price crashes soon,you will have some fiat money to buy cheap btc.
True! If you aren't sure about what to do then do both, if incase it'll crash then yo still have btc left to bounce back again. It is like testing the waters, meaning just to also test the market if it goes higher then good but if it goes down still good because you still have left as reserve, it is still a win-win situation. |
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All the above except the Ponzi Scheme. Bitcoin was created to stop financial institution from charging and controlling hefty sum as fee for the money that you transfer or keep with them. There is nothing new about Government Institution calling it a Ponzi scheme, while they forget they have been running such schemes for a long time.
Very well said, government has been saying that for a long time now and they just wanted to lure people into the belief that bitcoin is a ponzi scheme. Its like they wanted people not to get interest in bitcoin because maybe they’ll lose investors in their schemes if people will choose to invest in bitcoin instead. |
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It’s human nature, weak minded humans will always do things & continue to do things that are bad for them. Not all of us are strong minded unfortunately.
The weak will be weak.
I think they don't realized it is bad for them, they might be thinking that is it the best way for them to earn big money. And I disagree about the weak will be weak because not all weak remains weak, most of them get stronger and stronger overtime when faced with difficult situations, I guess they just have to experience the worst scenario for them to realize their weakness. |
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Those people who doesn't preferred to do gambling will not really understand those persons who still do gambling even the risks is obvious. No matter what statement you gave to them, it will be disregard.
I couldn't agree more, we can't really tell it depends on the person how he/she perceived gambling. Some may see gambling as entertainment because it helps them get away with stress or they find pleasure while gambling, others may look at it as wasting time and money. On the other note, a person who is happy with gambling will not think much about how much time and money was spent, what is important is that they had enjoyed doing it. |
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You can still win at gambling but the percentage of winning is super low more like one in a million people. On sports betting though I think you just made a mistake in betting on the team whose performance isn’t good after all. In my opinion, sports betting is better compared to other gambling because you can check the team or players performance throughout the season thus, the chance of winning is bigger.
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It is okay that you teach them how to gamble but also give them the pros & cons of gambling for them to better understand the consequences if in case they enter gambling. Let them fully understand how gambling works and what are the possibilities if they got addicted to it. You can't really control someone, it depends on that person if he/she will be addicted to gambling, I think what you can do to help is remind them always to just have fun and guide them accordingly.
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Then just stop. Gambling is supposed to be just for fun, with some chance of winning. If it's causing you stress then better quit it for a while.
If you don't spend too much to begin with, then there's less to be regretful about.
I agree, its better to stop it its giving you a lot of stress already, don’t try to recover the losses and push yourself because it will just worsen the situation. It might be very difficult to stop or forget the losses so try to divert your attention to some other things, keep yourself occupied. |
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First and foremost, we have to understand that scams, frauds and deceptions can be happening to any industry and definitely this is not an exclusive issue with the world of cryptocurrency. There had been so many financial frauds in the modern human history and there were even involving banks and financial institutions to the detriment of their many victims. Now, scams and frauds became easier and even went global with the coming of the internet and then now with cryptocurrency.
Yes, this is a big issue that the whole industry should be concerned about. However, there is nothing we can do with individuals who opted that their calling in life is to fool other people and their fat wallets. So is there is something we can do individually? Yes, we can start to be smarter so that we don't become another victim of these evil people. In 2017, ICOs became so popular and since the market is decentralized it became the venue for many scammers to sell their projects and then just fly away. Now, as part of the response to maybe minimize the problem, we now see STOs and IEOs which are considered to be better though not yet a big guarantee that scams will never happen. Sadly, we can never do away with scams completely.
I agree, scam has been happening even before bitcoin started but bitcoin being a digital money, most people associate it to scam even without really knowing but cryptocurrency or bitcoin is. Considering that there are few regulations present for bitcoin I think as individuals we should be responsible as well in securing our coins ourselves and be smart enough to determine scam from legit ones. |
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The worse thing that you can do is to promise not to gamble before you plunge into the game because it will be broken after you win in a gamble
promises and gamble do not work together and every compulsive gambler have already made a promised thousands of times before they always break that promise.
I agree, well as what they say promises are meant o be broken. I think it is best to break that promise if in terms of gambling because in gambling you don't always win, you're one of a kind if your always winning - it’s not good to hold on to that promise of not stopping in gambling most especially if your on a losing streak because you might lose everything just because of the promise. It is okay to gamble but please know your limitations and always have self control. |
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