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July 07, 2022, 07:33:41 AM *
News: Latest Bitcoin Core release: 23.0 [Torrent]
 
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1  Economy / Trading Discussion / Re: Tips for newbie to long-term investing on: Today at 07:28:02 AM
The approach I've had over the past couple of months has just been dropping a portion of my salary each month into crypto. But now I'm considering stacking my fiat to buy in on the bottom of this bear cycle which I think is yet to come. Would this be a wise decision? Or should I just keep going with the approach I have now?

No one can predict the bottom so what you've been doing is the perfect approach for me. Price has been continuously dumping over the past months so basically you are dollar-cost-averaging(DC) with your monthly salary. If you think cryptos could go lower at this point then you can leave half the portion of your salary then stack it until the price you want to buy reach it. Continue doing it until the next bull run and you can be one of those successful people in crypto.
2  Economy / Economics / Re: How Will Investing Help the Economy of a Country on: Today at 06:42:36 AM
Investing is Widespread now in the Society such that the Inability of not Investing, is Paving a room for not Benefitting from the Outcome.
And Right now Investing in Crypto is a yardstick of measurement and has created an opportunity that's reliable and trusted..
But I really can't tell how thus Investing in The Economy will help one's Country.

Investing is not just about putting your money into crypto or stocks then sell it for a profit. Investing can be having a business, if you're a business owner then you can provide work to people. You will need to buy the raw materials needed for your business which helps the country's economy. Your employees' use their salary to buy necessities which also helps the economy and the cycle goes on. Buying properties and selling it after some years is also called investing. If your goal of using your money is to generate more money then I consider that as investing.
3  Economy / Gambling / Re: The History Of Gambling. on: Today at 05:13:28 AM
So what are your thoughts? lets discuss.

I always have this question in my mind.

Would people still gamble or casinos business will boom if money is not involved as the jackpot but instead the prizes is things that we use in our daily life like food in form of gift cards or vouchers to pay our utility bills. Imagine casinos will offer a $100k worth of gift card that can be use on a particular grocery store that they support, use to buy gas, etc. There could be other prizes too like a brand new car or house. Would people still gamble if we are living in a world like that because we all know that the main reason of gambling addiction is money.
4  Economy / Speculation / Re: Is Bitcoin's price "basically a fire sale"? on: Today at 04:24:43 AM
This could be the last chance to see it at its current price. For me this is really the best time to buy bitcoin because next bottom of market cycles would be much higher if we are going to base bitcoin's historical corrections. We are just in early phase of this bear market so we have a lot of time to accumulate until the next cycle.

I'm preparing for the price to go deeper at this point because everyone is thinking this is not the bottom yet considering also the global crisis that we experience now.
5  Bitcoin / Bitcoin Discussion / Re: Bitcoin FUD is for losers. BE A WINNER. Stay Cool- Be Positive =D on: Today at 03:43:41 AM
HODL has lost its meaning in 2022, most people seem to be completely jumping ship (besides the majority on this forum)

Most people that are panic selling thought that investing into cryptocurrencies could be a ticket for them to be rich in just a short amount of time. They didn't do any research of it before investing and not aware of its volatility. The people that are still here despite the market condition will be the true winners once the bull cycle starts again. As Warren Buffet said, when everyone is fearful that is the time you should be greedy in investing.
6  Other / Beginners & Help / Re: How safe are crypto wallets?? on: July 06, 2022, 03:42:26 PM
Is anybody using multiple wallets here? If yes, then which ones are those, and how good are their safety features?

I use multiple wallets for different purposes. For solana network, I use phantom and sollet. For multiple-network supported wallet, I use metamask and trustwallet. Their securities are just normal for a crypto wallet. As long as you are the only one who knows its seedphrase/private key, then your assets are safe. If you really want to have a secure crypto wallet, then having a hardware wallet is your best option.
7  Other / Beginners & Help / Re: Be safe from Hackers on: July 06, 2022, 02:37:00 PM
Even if some official social media account of any of the institution promote cryptocurrencies, giveaways or NFT, don't fall for it. By the time make a clear analysis and go further.

If it requires you to connect your wallet to receive those free crypto or nft from a website link that they will give, then it is likely a scam. Once you connect your wallet, they will have access on your private key and can steal your assets anytime they want. Refrain also from downloading any files if they told you to claim your prize.
8  Economy / Trading Discussion / Re: waiting to buy lower? on: July 06, 2022, 06:17:17 AM
People are waiting to buy lower, but what if you're wrong and this is the bottom?

You never know what's going to happen next.

That is why you just don't use 100% of your portfolio when buying these dips. Going all-in at one dip is a very dangerous move. If the market goes lower than that then it stays that way for a long time then you will have no choice but to hold your assets until the next market recovery. You also decrease your potential profit because you use all of your capital at a higher price. I know that there are people who have only small capital often use 100% of it to buy the dip but dividing your capital is a must to reduce the risk of your possible loss.
9  Economy / Trading Discussion / Re: advice for who are witnessing this market for the first time. on: July 06, 2022, 05:19:32 AM
If newbie owns some crypto before this market dump happens, I advice to delete the centralized exchange app that he's using or avoid visiting its website. Ignore the fuds from different social media ang stay away from any crypto-related stuffs that will cause him to sell his assets at loss.

If he's a newbie who doesn't own any cryptocurrencies yet, then I would tell him this is the best opportunity to buy it because market is at its bottom. Hold it until the next market cycle then see his investment grow big.
10  Economy / Economics / Re: Why You should not worry about BTC price action on: July 05, 2022, 12:47:15 PM
Only newbies in crypto would be afraid to the current price of BTC. For us that have been here for some years in crypto space, we're already used to this market situation and we know that this is the best opportunity to buy bitcoin and prepare for the next market cycle. As for me, I'm waiting if btc will stabilize at this price until October or before the year ends as I think we will dump more hitting $13-15k range.
11  Economy / Economics / Re: When I started driving. on: July 05, 2022, 11:38:25 AM
Happy birthday there mate! Wishing you more birthdays to come and more stories that you will share on this forum.  Grin

About the topic, it's really shocking how the inflation rate went up fast this year. Taxi and other public transport drivers here in my country are the most affected by the gas hike because most of their profit at the end of the day only goes to the gas for their next day trip. They only manage to bring very small amount of money to their families. As a private vehicle owner, I can't just go somewhere anytime I want unlike before. As much as possible, I maximize the usage of my car like buying groceries and paying bills at the same day to lessen the gas consumption.
12  Local / Pilipinas / Re: Dahilan ng pag-crash ng cryptocurrency on: July 05, 2022, 10:30:18 AM
Oo nga, nagsimula yung bear market sa Terra Luna/UST crash at doon na nagsimula halos lahat parang nagkaroon ng domino effect. In fairness naman sa Celsius, nakapagbayad sila kahit papano pakonti konti.
(https://cointelegraph.com/news/celsius-pays-down-143m-in-dai-loans-since-july-1)

Kahit hindi naman nangyari ang issue na yan ay magdudump pa din ang crypto market. Tulad nga ng sabi mo na normal lang ito sa market cycle. Last year, madaming crypto ang gumawa ng bagong ATH kaya expected na dapat ang mga ganitong pagkakataon. Dagdag na rin dito ang economic crisis na nararanasan ng iba't-ibang bansa. Ito ang magandang pagkakataon para sa mga newbies na gusto magsimula sa pag-iinvest sa crypto.
13  Bitcoin / Bitcoin Discussion / Re: Bitcoin Hodlers are actively buying bitcoin these days on: July 05, 2022, 09:31:44 AM
If you've been in crypto for some years now you should know that this is the best time to accumulate bitcoin. People aren't euphoric anymore and most of the news about crypto on social media is just fud to shake those weak hands. This will be the last chance to buy at this current prices because next market cycle could be a new ATH. Inflation also keeps rising over the years so investing into bitcoin for the future is a good choice.
14  Economy / Trading Discussion / Re: Cryptocurrency Huge Down from ATHs. what will happen the next ? on: July 05, 2022, 08:40:07 AM
-snip

For me crypto won't recover anytime soon and will just start early 2024 because of bitcoin halving event. Despite of this bear season, this is a big opportunity for us to buy those coins you said  and hold them until the next market cycle because most of them are almost down 100%. Once this bear season ends and cryptocurrencies starts to go parabolic again, it won't be difficult to earn double of our investment.
15  Economy / Trading Discussion / Re: trading is good for traders with passive mindset on: July 05, 2022, 07:22:40 AM
Trading is not for everyone , this had been the trend i have been read overtime but now i realized that it is wrong,  trading is for everyone that literally interested to learn and earn and not those who were just here to get their profit instantly .

this needs time and effort and of course capital , because in the beginning we must lose first to learn and understand how this moves and how to make it right.

But not everyone can manage their emotions properly in trading which is necessary to become successful on it. Everyone can learn those charts, candlesticks, and indicators but only few people are able to control their emotion in different market situations. There are some people I know that have been trading for years that still get greedy when an opportunity to earn huge arises and forgot to stick to their trading strategy.
16  Other / Beginners & Help / Re: When to take profit? on: July 05, 2022, 06:30:48 AM
Taking profit really depends on your satisfaction. X2 of your investment is already a good selling price. One thing to learn is you should not be greedy. Don't regret if the crypto you sold pumped higher after that because no one can predict the market. Don't keep checking it then regret everytime you see its price, learn to be contented on the profit you gained. Just think that what if you hold longer then it suddenly crash when you're not monitoring it, then you just missed the opportunity to have bigger gains if you sold already.
17  Other / Beginners & Help / Re: How quick does the market grow during bull market? on: July 05, 2022, 05:23:25 AM
I have been dollar cost averaging the last 5-6 weeks since we had our first real crash in May which means I now have pretty good average buys for all my holdings so hopefully when the bull market does come again it will take no time at all for me to be in profit.

I understand none of us know exactly when the next bull market will be here but I am just wondering if anyone could give me their experience with what it was like during previous bull markets and how fast we can expect our investments to grow again?

These bear season are usually long and usually last for 1-2years. Don't expect your investment to grow sooner this year or even next. Bull cycle is where people are very euphoric because many crypto are going parabolic and is able to pump 10x or even 100x. Self proclaimed trading gurus are very active during that market season. They hype different coins that will attract many newbies to buy it. What you 've been doing is the best strategy now as long as you will be able to hold it until the next market cycle.
18  Economy / Economics / Re: WHY ITS SO POSITIVE THIS BEARMARKET. on: July 03, 2022, 12:22:20 PM
-snip

This is also what I feel with the current market condition. Self-proclaimed trading expert/gurus aren't active anymore. The hype of play-to-earn is gone and new braindead games have stopped showing so those who invested on hype thinking they could make them a millionaire in short amount of time learned their lesson. PFP NFTs hype is also gone, there are many pfps created during bull season that is made only to milk the investors. People that are still here now in this bear market are the true believers of crypto. They should know that this is the perfect opportunity for them to become a millionaire for the next bull run.
19  Economy / Services / Re: Looking for Trading job on: July 03, 2022, 11:27:02 AM
-snip

Why not start again even if your capital is only small. If you can make $100k from $200 then why not challenged yourself to have a $20 starting capital then make it to a hundreds and so on. Why do you need someone that will fund your trading activities. It won't be easy here to find the person you're looking for. Even expert traders I know doesn't offer these kind of services. With those skills you have, why not use it to make a trading lesson that you can sell for a certain price.
20  Economy / Speculation / Re: Anyone bought Bitcoin/altcoins already? on: July 03, 2022, 10:24:00 AM
If yes, do you want it to move up from now onward?

I only spend 10% of my portfolio to buy some cryptos now that I plan to hold for long term. We are in bear market now and I don't expect any huge upward movement will happen soon as there is also a global economic crisis going on. I believe we will dump more until the end of the year and become stable at $10-20k range. If bitcoin dumps below $15k, I would buy many altcoins that I've been targeting to hold until they make a new ATH like ETH, BNB, and SOL.
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