Though I am trading for some time now, I would still consider myself a newbie because there is still a lot to learn. The first one to learn is understanding the market. You should know trading psychology and understand how the market works and market cycle because the one that are moving the market are people so at least you will have an idea of how people react to the current price and you will see it through price action. The candlestick patterns and the trends would give you an idea of this to speculate the market. This would be the technical analysis part.

Another aspect that you would like to be updated to is the news about the coin. Its recent developments, how active its developers are and what is the purpose of the coin would give you an idea if the coin would be valuable in the future. A coin that has a real value would eventually go up in price even if there are FUDs every where about it like bitcoin but it can be applied to other altcoin as well. This would be the fundamental analysis.

The combination of technical and fundamental analysis, trading psychology and risk/money management would make you a profitable trader as long as you have patience and a trading plan at hand so that whatever happens, you know what to do.

Trading is when you are the one who will buy or sell position depending in your strategy and depending on what security you are trading with. If you are trading stocks or cryptocurrency, usually you will buy low and then sell high to profit but if you are trading foreign exchange, you will either buy low and sell high or the other way around because you can sell first at forex and then buy later when it goes down. It would totally depend on your action when you are trading whether you can profit or lose in your trade.

In investing, you are putting your money to something and just wait for the value of that security to increase eventually. Usually, it is for long term investment because most of the investments would have a return of investment only after some time. Some investments have lock-in period wherein you can get your investment after a specified period of time and its value would not depend on your actions but you will just depend on who is handling that investment for you.

Well there is still a possibility of it happening because after the fear, uncertainty and doubt few weeks ago, bitcoin is now starting to climb again and basing on its previous history, it will go back up again and maybe reach a new all time high that can be $10,000 more or less. With more people who witness the downfall and rise of bitcoin price, there will be influx again of new bitcoin traders or investors which would push the price higher. Jamie Dimon and China news FUD may turn out for the best since we witness how in demand bitcoin is and how strong its support from the community.

There is a rumor again that China will start regulating cryptocurrencies on October 10. With this information, there would be huge influx again of Chinese investors who pulled out their investments in the ICOs or in exchanges. This would be their opportunity again to invest. The cryptocurrencies would be classified as digital financial assets and investors would be protected by consumer law which would be an assurance to the investors and to other people as well who are still apprehensive to cryptocurrencies.

Bitcoin is a chance to get rich. It is an opportunity to grow my investment quickly without the need of any banks or investment institution whatsoever. Bitcoin price alone would have a return incomparable to any investments out there. Of course there is a risk but the higher the risk, the higher the reward. It also gives people the opportunity to earn without risking capital because spending time alone in this forum would have unlimited opportunities to earn. I currently have a small business and I have a plan of expanding it through crypto earnings.

I am searching for a possible job online before when I stumbled upon a video about bitcoin. I got curious that lead me to buy bitcoin and try investing it to sites that later on become scam but I think it's a blessing in disguise because through that scam, I search for more ways to earn that lead to this site and I have no plans of leaving it because of the opportunities and knowledge I get here.

If your purpose is for long term investment then you can buy bitcoin now because it would continue to grow There are still so many people who doesn't know about it and its not yet in mass adoption so knowing that information, you should buy and accumulate as much bitcoin as possible because you might lose the chance of buying cheaper. The purpose of some people spreading fear, uncertainty and doubt is to make it cheaper so that they can buy more bitcoin so if we know that they are doing this, we should also buy and take this opportunity. Sooner or later we will see the rise of bitcoin again.

For the record, it always goes back up when it goes down because it is the market cycle. Due to the nature of bitcoin having limited supply and then strong demand, it will always go back up so we should ride the trend my friend.

Hello,

I hope you can help me with this transaction. I sent it yesterday and still unconfirmed.

20bb0f54228edb07ddc97788c8f51a554f748c8597c24be66a71d9c7326c654e

Thank you.

Bitcoin Talk Name: entrepmind23
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I believe there is no secret to trading but experience would be the biggest contributing factor in order for the trader to become profitable. There are always losers and profitable in the market and those who have edge over others are the ones who profit because they know how the market works. We all learn from the beginning because there is no trader who just entered the market then directly become profitable. Traders learn from their experience of ups and downs and from it, they were able to develop the strategy that might give them maximum profit with minimum risk.

There are different type of traders and different strategies and it would be up to the trader what is his style that he is most comfortable with. We know that in trading cryptocurrencies, buy low and sell high is always the advise but it is easier said than done because there are emotional traders who would immediately panic with just one news even if it is not verified yet and would sell at a loss. There is also the problem of herd mentality when others are buying, a trader also buys without a trading plan at hand and no exit strategy.

It would be hard for the poorest if it will be all digital because somehow they should get a gadget so that they can have transactions or else they would not be able to eat. It is even harder to put food in their stomach, how much more to purchase gadget that may be too expensive for them or if they were able to get one, it might not be that quality phone that may broke easily and they would end up having no gadget again. The possibility of enforcing digital currency and eliminating fiat currency totally is just not ideal for me because there are still so many people who have no access to the basic tools needed to access the network and somehow we need money to access it and the poorest of the poor have even difficulty in finding their next meal how much more having money to buy the tools needed.

This would be one of the disadvantage of cryptocurrencies not being able to track the hackers who stole the funds of the traders/investors. Many are still apprehensive in investing in bitcoin because of the thought that something like this might happen. The higher the value of cryptocurrency, the more enticing it is for the hackers. Cryptocurrencies have been a threat to financial institutions that's why they are spreading fear, uncertainty and doubt to its investors and sometimes what they are saying is true that's why we, crypto enthusiasts should take the necessary measures to have security enforced in our assets because we never know if the hackers are on the move again to get their hands in our funds.

I would suggest for you to study how the market cycle works so that you will understand why the price is going up or down. If you are trading, it is important for you to study fundamental and technical analysis so that you will not just depend on your "strong feeling" of whether to buy or sell something. You should have a target price at least if you wanted to buy lower and have an alternative plan if the market didn't go where you wanted it to be like if it goes up then you should at least know, where the possible next resistance would be and if it goes down where is the possible support so that you will not keep guessing with your strong feeling. You may have some mistakes at times but at least you know and understand how it works and later on develop a strategy you are most comfortable with to be profitable.

As long as you have the tools needed like gadgets and internet connection then you can use bitcoin. All you need is to study how to access and transact with it. This is one of the advantage of bitcoin over banks because in banks, you need various documents to open an account and if you don't have it then there's no way to open one but it is a different story with bitcoin. As long as you have knowledge how to access bitcoin wallet then you can easily create one without the need of documents though there may be some platforms who will need verification documents for their safety as well.

As for being free to use bitcoin for any purpose, yes we are free but then we should restrict ourselves from doing something not good just because other people do not know who we are. There are people who use it for illegal means and this is why some people are afraid to be involved with it especially if they don't research about it because they are already brainwash by media.

Yes we need to pay it because it is one of the taxable income but then there are countries who are lenient about it. Many people who earn bitcoin doesn't declare capital gains from bitcoin as one of their income and since the government is busy with other things, they were not able to track the earnings of some people. In the country where I am from, the government is so busy with other major problems that even those who are earning online for a few years not related to bitcoin, they are not paying tax because the government has no record of them earning from it so it is easier for them to avoid the payment of tax. Most of the reason is that they aren't paying because it will just go to the pockets of some government officials and will not be spent for the public to benefit.

The way for the government to tax the bitcoin users would be to tax the platform they are using so that in every transaction, they will have a share of it. Since it would be hard for them to track each and everyone then this would be one of their solution.

My parents as well were doubtful at first as to my decision of earning online because all they see in the news are almost all bad things about earning online especially if you are getting a significant amount. Though it may not be that significant to others, for me my earnings in bitcoin is already significant for me because I can pay my bills with it. Since I am earning for a while now, the doubts of my parents were gone eventually because I told them about the nature of it and they understood the basics of it. We just need to explain to them properly what is it and why it is not illegal or scam.

I think it is less likely that you can't have tension and stress when trading cryptocurrency because of the roller coaster ride like prices. One minute it goes up and then down then up and it's so volatile unlike stocks that is more stable. Maybe you will not be stress when you just prefer investing and then just forget about it for more than a year or more. If you are trading, you cannot avoid being in tension and because there is heavy manipulation in the market, sometimes there will be some flash pumps and dumps and you would end up being happy or disappointed. News has a big factor in cryptocurrency and whether it is verified or not, it does not matter because there would always be panic buyers or sellers.

I think trading cryptocurrency has a great future compared to stocks because of its volatility and since you are already trading stocks, for sure you already know how the market works and trading psychology. Because of its volatility and lower volume in cryptocurrency, a movement in stocks for one year may just be one day for cryptocurrency.

It will just be in the wallet if the family or relatives don't have access to the wallet and it would just be added to the coins that will be lost forever. If you have a significant amount of coins then it would be better to teach someone in your family how to use it because we never know what the future will be so you better be ready and have a separate record of your wallets and private keys so that in case something happens, they will know how to access your accounts.

You can give a copy of it in your lawyer and then to some trusted family or friend. You better have multiple copies of it because once you have no records of it then it is lost. Unlike when you have money in the bank or other properties then your heir can get it through the process of law but in bitcoin, if you don't have keys then you don't own it.

It is possible because I have known some people who left their 8-5 jobs to focus more in bitcoin because they are earning more from it than their previous jobs and they control their own time. One of the problems when you have an office job is that your time is tied to your job so you can only have a time for other things before/after office hours and rest days and for some, they can't stand it especially if it is a job that they are just doing for the sake of having a job with no passion at all. Another is they are having co-workers that they can't get along with and a boss who is always ordering to do something even if he can do it himself.

Bitcoin has provided some people the freedom to own their time, no alarms in the morning and being always in a hurry to get to work so that he won't be late going to work because of traffic. It gives someone the opportunity to earn something in a different way and with passion because if you don't have passion in earning bitcoin then sooner or later, you will just give up and find another source of income. There are many ways to earn bitcoin and if you are trading and have the capital needed then it would be enough for paying the bills and put food in the table.

Though the mantra of trading crypto is buy low and sell high, sometimes it happen the other way around because people just buy immediately a coin if someone is saying that they have to buy it and they would immediately jump to the exchanges, buy the coin not even taking a glimpse of the previous price of the coin and would eventually end up on a loss because it was already pre-pumped. Maybe there are some people who just truly advise to buy a coin because of the potential it would rise in the future but there are others who would take this opportunity to use this information to profit like create some group and advise people to buy something after he bought it. There are others who have genuine advise but most of the time, they would just take advantage of this situation to profit from its members.

I think volatility can be controlled if more people are holding bitcoin and not many whales are manipulating the market. Due to the fact that bitcoin has been mined and many people are holding large volumes of it in the past to present then I think volatility cannot be controlled because they are market movers thus a simple order from them would affect the market that much. It is happening too much in altcoin as well because of the fact that it is not regulated that's why people are free to do what they wanted.

Maybe time will come when volatility can be controlled if someone of higher authority controls the market like being regulated and have some rules that will restrict some whales to easily control the market but then it may not happen because there are decentralized exchanges thus market manipulation is still rampant.

Those people who are still neutral about bitcoin would ask but they are not really that interested but only those that are really interested to it would ask from time to time not just about bitcoin but in cryptocurrency in general as well. My friends and I are discussing about the possibility of investing to other altcoin as well and discuss the possibilities. I am happy about it because I am the one who introduced it to them and now they are already searching on their own for other possibilities.

There are still some people who are doubtful about it because I have some other friends also who did not invest yet because they don't trust it yet and still apprehensive but I believe eventually they would be able to grasp the importance of blockchain technology and have the option of investing some time to it to understand it more.