I agree. It's just hard to control your emotions when your money is at stake. That's why they are saying invest/trade only what you can afford to lose because of this emotion part when you will be illogical with your decisions because of fear of losing more. I am guilty of this and will continue to trade even if I got big losses because of panic because through it I will become more decisive later on and stick to my plan.

Greediness is also one of my problems because even if I already have profit, I wanted to earn more and more thus it sometimes result to a loss because I did not sell it when profit is at 10% and I am waiting for it to reach higher for a 20% profit and then it goes down slowly and then miss a profit again.

Panic when the price suddenly drop and then sold at a loss but then when I look at the chart again, the price is slowly going up and if I did not panic then it should have been a profit not a loss. During this time, I just hate myself because I always say don't trade with your emotions but then when a situation comes like this, I just can't control it because I am afraid of losing more.

Then to get back my losses I would trade even if I know that it will be a pump and dump and then due to my internet connection being so slow sometimes, I was able to buy at the top and see the price slowly going down and I don't have an opportunity to sell anymore so I will sell it at a loss again and after some time price will go back up. Well, I just hodl next time even if it will take a long time, my target price would be eventually reach. At least, I did not sell at a loss.

Its pretty expensive now to send bitcoin with small value because of the high transaction fees so the solution for now is to send bitcoin in high value so that you cannot feel that much the high transaction fees. Though I hope that later the transaction fees would become less expensive and if there are transactions that you can pay with fiat, then pay with it if the fees would be lower than paying it with bitcoin.

First off all, it's good that you thought of investing in crypto because I have some friends that would not consider investing to it since the price is high and they are somewhat contented with their jobs and feel safer with it than investing into something new to them. I did not further convince them to invest. As an answer to your question, you invest only what you can afford to lose in crypto since it is still risky. Budget first all the things that you need like for your fixed and normal expenses. Maybe half of your salary is for this and then the other half is for emergency funds, savings and other investments. Personally, I invest 10% of my salary to crypto for long term investment cause I put others in emergency fund and other savings as well.

I tried to use it in crypto trading but then I think it is not as effective as it is in forex or stocks. One thing is that volume in crypto is not that high so just a small movement of a whale can affect the price greatly. When a price reach a certain point in fibonacci, sometimes it has no effect since there is not enough trader who make it as support or resistance then the price would continue to go up or down unlike in forex or stocks that fibonacci points are vital.

What I do in crypto is to trade base on news and observe also other traders in social media accounts what are the coins they are trading because there are times when just one post of a trader who has many followers will make the price of the coin shoot up. Crypto is just unpredictable but then I am just a newbie in trading so maybe for the professional ones, fibonacci is a helpful indicator to them.

Maybe for now they weren't aware of the existence of bitcoin but later on when they know about it and your government regulates it then maybe that would be the time you will be seeing taxis trying out bitcoin as a payment option. Bitcoin is pretty much new especially to people who were born during industrial age and they are used to working in the field not online but then we are in the information age today and those who refuse to go with the flow will be left out like some companies did in the past.

However, the problem with this for now is the transaction fee. Passengers may opt out to pay in cash if the fare is in bitcoin because of high transaction fees. The fare would be higher then compared to cash. If fees are lower then maybe this is ideal for us bitcoin users but for now, it is not.

This is one of my fears when I have coins in an exchange because we never know what will happen. It has happened before and there is a possibility it might happen again (I hope not) but to reduce the risk, we should only put coins in an exchange that we can afford to lose and then have the security features maximized so as to prevent something like that happening.

I have also read somewhere that if you wanted to be more secure then you can have a separate gadget intended only for crypto. Your only purpose for using that gadget is for trading or for other things that is related to crypto and nothing else. You will access all other activities except crypto in other gadgets like emails, games, watching movies etc.

Yeah it may take some time for bitcoin to be really known by the masses since it has not been existing for long unlike gold that has been existing since time immemorial and everyone knows gold even if a person is already old and not into technology unlike bitcoin that only people that has access to internet knows about it and many still don't know even if they have access. If time comes that everyone will know about it, maybe if the people who are alive then were born when bitcoin is already known and being used as currency or store of value.

It is hard for bitcoin now to have massive adoption and be known since some countries ban the use of it but I am still positive that someday they will still let its people use it if they see that other countries have reap the benefits of using bitcoin and regulating it. Japan, Korea and other countries are already starting to regulate it and other countries may follow suit if they see the advantage of using it over fiat money.

We are all hoping that bitcoin will continue to rise up in value that's why we should do our share in making this possible which is to spread awareness to other people about the existence of it. Since bitcoin is not yet that known then you can start with your family and friends to introduce it to them and maybe some of them maybe interested to invest into it thus adding more demand.

Somehow we are afraid that bitcoin might crash because we have high hopes of it but then if we continue using it, buying and selling then the interest of people into it will not waver and demand will just continue and if there are no unexpected events that will happen that may negatively affect the coin then the possibility of it crashing is highly unlikely.

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I trade in both and I would say bitcoin is much more profitable because of big price fluctuations. I would prefer the one which I can make profit in a short period of time. Though more people still trust the stock market since it is supported by the government and registered and they can track your income in there while bitcoin is decentralized and many people are still doubtful to it.

The profit in stock market is minimal because of stable price and since there are big volumes then it is hard to make the market move if you are just a small time trader unless you are a millionaire who have a lot of shares there. For the people who have small funds, bitcoin or cryptocurrency trading is more profitable than stocks.

1. I am getting my bitcoin from various services that I work with like signature campaign, social media campaign and other sources. I don't buy bitcoin since it is pretty expensive when I use my fiat money so better work and have bitcoin as form of salary.
2. I use Bittrex to trade now. I use Poloniex before but there are some issues there that's why I transferred to Bittrex.
3. Yes I convert it back to BTC but I am not worried if the price of bitcoin is high or low since I just hold my BTC and not convert it to USD. Bitcoin is still going up as always so even if there is a correction in its price, I don't mind it since I believe it will recover and then go up again.
4. Sometimes, I convert some of my BTC because of some urgent needs or I just wanted to taste my profits but the amount is just minimal.

It is hard to see trading as fun when your money is on the line but if you can afford to lose the money you invested as capital then it is not that hard to view it that way. Trading involves a lot of psychological game and if you have no self control then you tend to lose cause you easily give up when price is not going where you wanted it to go. To avoid the situation of being depressed and worried of your trade then the solution to this would be a trading plan wherein you have an alternative action to every possible situation.

Trading is fun for me since I like analyzing charts and being a trader for some time now, I lose some and win some and learned the hard way and it is sometimes hard to accept that I lose sometimes because of my own stupidity.

There is a low chance that it will happen because as we see now, there are still few people who knows about cryptocurrency and for people to access it, they need to have the tools needed to have it like mobile or computer, internet connection and most of all electricity. It maybe possible for the developed countries to implement this kind of no actual money but for those developing countries it would be hard. There are people in developing countries that even don't have electricity so it would not be possible for them to access it.

I think cryptocurrency would exist together with fiat money and would be one of the payment option and there is a slimmer chance to actually replace the fiat money. If the transaction fee is getting higher then maybe people who have access to it may treat it as store of value instead of currency because it would be expensive to buy a small value item and then have a transaction fee half the value of it.

I love altcoins because I can have big profits if I can enter the market at the right time. Low volume is an advantage and disadvantage at the same time cause having a low fund could still make the market move a little which can somewhat trigger some traders and then let you take profits if you can have the right timing cause sometimes it may become a pump and dump.

I hate altcoins because its very volatile one minute its high and then suddenly its way lower so you should have fast hands as well. You can have big profits and big losses as well which is what I hate but then its part of the game of a trader. As long as I have a plan, it may reach its target price but there are times when I have to make a stop loss to take advantage of a bigger opportunity.

We don't know for sure if bitcoin will be one of the factors that can end world poverty because poverty has many root causes and if bitcoin will only solve some of the financial problems of people in poor countries then we are still far from solving world poverty. Yes it may be easy for some of the underprivileged people to access bitcoin but then we cannot deny the fact that there are still so many people in the world who don't even have the basic tools to access bitcoin specifically electricity, gadget and internet.

What the cryptocurrency users can do now to somehow help improve the economy of their country is to build business to help people have jobs and then maybe some of them will be able to improve their status in life and be above the poverty line which is a small step to end the world poverty.

 

Maybe for those people who bought bitcoin when it still has a lower price and has many bitcoins saved in their wallet would be instant rich but for those people who just started then we should work hard to become rich. Just like what people do to have more fiat money, we would still do so to earn more bitcoins. We can start small by doing services for others and earn bitcoin or buy bitcoin as a start but it is pretty expensive these days.

Opportunity already pass when we should have bought bitcoin when it was still cheap but who should have thought that it would reach the price as high as it is now. It may not make us instant rich now but eventually when we acquire as much bitcoin as we can and there would be mass adoption, then that is the time we can feel to be richer than what we are now.

It is risky to put all your money in bitcoin alone. You may have considered putting it all because of the significant increase in value for just a short amount of time compared to investing it in another business or put it in your bank as time deposit or savings but then it is too risky because we don't know what will happen in the future. Someone may be able to access your wallet and then you will end up losing it all. Instead of gaining value then you will have no money left that may be for your retirement or for other purposes. There is a little chance of it happening but its better to be secure than regret later.

You can invest maybe half of your money in bitcoin and the other half maybe in other coin or other field not totally related to cryptocurrency. Diversifying is a must to reduce the risks of your money being gone and you can have multiple sources of income which can serve as back up in case there is one that would not be earning in the future.

Having a regular job in a third world country is still not enough to live a comfortable life. Someone who earns a minimum income would receive his salary for the month and then it would just be enough for that certain month and then need to work again to put food in the table and to pay the bills. There are people who even have debts even if they have regular jobs because their earnings are not enough sometimes to pay the bills and to provide for their another needs so its really important to have an extra income and bitcoin is an alternative income.

Bitcoin is a big help because earnings from it can supplement the meager income earned from regular job. Sometimes, there would be an extra which can be spent for their wants or just be stored in the wallet and then hoping someday it would be valuable and can help them to have a business in the future.

All of this requirements or considerations should be in your feasibility study. Know the location of your business and then study what are the things that they need or if there is a problem you need to solve in the community and then start from there. If you develop a product or service, make sure that you have a market on that product or service and affordable as well to your chosen market. Quality is over quantity because if you have quality products/services then people will come back to you since they will like it so quantity will follow. A business needs fuel or capital and you can get it from your family or friends at first if you are just starting. Just start small and eventually it will get bigger if you are successful.

What's important in a business is the operation system. If you do not have it then there would be a possibility that it will fail cause you will not know what to do in case of unprecedented events happening and you can have someone manage your business if you have already an existing system to follow. You should have the passion or interest in your business because in case you will have difficulties at first, you will not surrender because you like what you are doing.