Im starting to trade and i want your opinion:
Do you think that if i buy "x" amount of BTC for any price below $10,000 USD will get me a profit on a long term (>1 year)?
I know is unpredictable but i want to know what you guys think.
Thanks in advance.
I hope you did it op you could have double your money in less than a month and if you timed everything perfectly you could have bought again at less than 6k so if everything went perfectly you could have multiplied your money at something close to 4x which is impressive since we are only talking about 3 months and that includes only buying and selling bitcoin. |
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i think Bitcoin is only profitable if done at large scales. you must get expensive mining equipment and of course it consumes a lot of electricity monthly. Also it’s usually much more cost effective to buy Bitcoins with this money instead of using it to buy mining equipment.
You can get money with mining but unless you know very well what you are doing the chances you turn a profit go lower so it is better to buy bitcoin directly and forget about it, if you just hold it the profits you can get are impressive if you are willing to hold for a long time but as always it is your choice I will buy bitcoin directly but if you prefer to mine that is fine as well because miners are very important too since they support the network and confirm our transactions. |
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One of the attitude that you should have in this business is the PATIENCE. It is very normal that prices will go down especially in the crypto marjet because it is very volatile. The prices fluctuate every minute. If you see the prices are going down, don't mind it. Just hold your coins and have patience. You will not incur losses until you sell your coins.
The best thing to do is to relax and wait for the next update of the prize. And if it will continue dropping we must be happy because it is a new opportunity of buying. Everything is really depend on how we do act with a different situation that may have came to our life. And I believe that we are the one who do it in our most simple way, but if we wanted to gain we must show patience on this feild. This is what we should do but most of the time people do not want to wait they think they can get profits in bitcoin in a matter of days and while that is possible it is not the most likely scenario many people need to wait for months and even years in order to see any profits and then newbies think they can get in bitcoin and make money and then when they lose they blame bitcoin instead of blaming themselves. |
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One of BTC's strength, which is its deflationary nature, is also one of its greatest weaknesses. Like gold, its most valued utility is as an investment and a store of value if one was willing to take the volatility. But theres only one way BTC is going. Up.
With that said, tell me, are you willing to spend your coins for your daily needs? Then prove it. Because I dont. The opportunity cost is too great.
All currencies are assets as well, this is something usually forgotten and as long as bitcoin performs a better job being an asset then that is the use people are going to give to it, bitcoin as a currency is not very good, that will change in the near future but we cannot deny the best usage of our bitcoin does not come from paying our bills it comes from holding and trading and as long that is true that is what we will keep doing. One of BTC's best usage would be the ability to make a censor resistant transaction at a time when its impossible to do it in all other currencies. Maybe in a dystopian setting. Thats a very powerful use case if you think about it deeply enough. That will be great use case but unless you live in North Korea we do not have a need to use bitcoin in that way, however it seems we are heading in the direction of a more intrusive government and if that is the case then the fact we do not need to use any middle man is critical but I still think we are on time to avoid that future and bitcoin will be one of the tools necessary to avoid it. |
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I agree with you. Many ico's are just selling crap or not responding adequately to the investors. But I think that's the price of having the opportunity to generate a large profit in a small time. You just need to be more carefull in your picks.
This is the biggest issue, even with all the regulations many will keep investing in icos if we saw new and exciting developments but what we see are the same coins and the same ideas and nothing new and if that was not bad enough they keep raising the bar of the money they want to get and the information they want from us and yet they do not offer information about themselves. |
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The govs don't want common people to make money or escape from their poverty, so they are trying to hinder the crypto ecosystem in general.
For example we hear about crypto exchanges to be banned in some countries, or be heavily taxed so that the govs take significant earnings without doing nothing.
"Regulation" after all is just an extorsion: if you , Bitstamp (for example) , don't give me a good part of your earnings, you can't operate.
And the gov is not going to give any service in return, they just take their slice of the pie for nothing.
And at the end of the day it is not Bitstamp the one who is losing money due to "regulation".
We are.
Because Bitstamp and all regulated exchanges will be raising their fees due to the taxes and we are the ones who must pay the gov to keep the exchange alive.
What can we do to avoid this issue?
The solution that is gaining popularity are decentralized exchanges like Waves or Streamity ,
which are good for crypto-only trading.
But what about FIAT deposits?
How do "decentralized FIAT deposits" work , if they exist?
i can think of 2 solutions to this problem:
- Use FIAT to buy GPUs, mine coins with them, then use the mined coins to trade on DEX (decentralized exchange) platforms
- Buy crypto with FIAT directly from other people, that you can meet in forums or online announcements, Localbitcoins.com and similar sites
Well i know it's more "comfortable" to just do a bank transfer to an exchange's account , but this will have a cost for you: the gov will know what you are doing with that money, how many coins you bought , etc., so they may tax you because they think you are making profit.
While if you buy GPUs they cannot assume you are mining. You say you are just playing video games.
So your earnings are anonymous.
They don't even know you bought GPUs if you buy them at local shops with cash.
Being anonymous is worth the struggle even if it takes a bit of "discomfort" , as you are going to avoid a lot of nuasances.
The problem with this is cashing out, how are you going to do it? Or are you planning to never cash out? After all any maneuver you do with your coins in exchange for fiat will leave a trail someway or another, for example you could try to sell your coins for cash on localbitcoins with a face to face trade, but that is risky you could be mugged or you could be recorded doing this. |
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There seems to be a lot of confusion, misconception and misunderstanding about day trading and its advantages as well as disadvantages. Some people even say that it is a form of gambling. In this topic I want to explain why it is not and also address the most common issues which day traders encounter and how they handle them. Thank you for your attention.
First of all, day trading is no more gambling than any other trading. If the price rises you ride the wave, if it doesn't you wait until it does. That's pretty much all. In this sense, if day trading is gambling, then all trading is essentially gambling. Besides, arbitrage is also day trading which involves quite a few trades (actually, twice as many) albeit it is anything but gambling.
Further, there is a question of limited profitability. This question has some substance but it seems that people who raise it don't fully understand what day trading comes down to. Many erroneously think that it is mostly about missing good profit opportunities. In fact, nothing can be farther from truth than that. Day trading if done right is actually about maximizing your profits, not losing them.
Statistically, your best trading strategy would be capitalizing on both short-term volatility and long-term growth. Since most price moves happen in a rather narrow range followed by relatively rare but big price changes, an optimal strategy would be dividing your trading capital into parts, smaller parts for catching short-term volatility, while bigger parts for capitalizing on longer-term growth.
You are correct in what you write, but the reasons those misconceptions exist at all has to do with the irresponsibility of many of those that day trade, day trading can be extremely profitable but there are those that engage in the activity despite their limited knowledge and as you may expect their results are very poor this leads them to conclude that day trading is like gambling even if that is not the case. True, but the same can be said with regard to long-term holding as well. Ironically, people who first thoughtlessly engage in day trading quickly turn into holders and investors, sort of, when the price goes strongly against them and they don't quickly close their position. They are hunting for small profits completely oblivious to the risk they expose themselves to. They may earn here and there, and then short but powerful price move eats all their "hard-earned" profits leaving them eternally in red. This is why most people should likely stay away from day trading altogether. But the problem is while that would be the logical thing to do many do not think like that, after losing money in the market they cannot let it go, they wan to recover the money they lost, but since their abilities are limited then they never do and they enter in a vicious cycle from which they never recover without understanding that if they just held not only they would not have lost that money but in fact got greater profits. |
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Buy low and sell high is the basic rule which most of us follow in trading.We must set a profit margin of 5% or 10 % and do trading until it is reached instead of blindly following the market moving in bullish trend as a sudden fall in price may result in loss.We should do our personal research and find the most undervalued coins so that even if market turns bearish,still we could stay cool holding our coins.Before investing in a new coin,we should see the charts of one week and one month to six months to exactly predict the price movement of a coin.
Trading altcoins can be risky it is not enough to just look at the previous history of the coins, everything could look like its alright and then you find out the coin turned out to be a scam and then you lose all your money this is why it is better to start trading bitcoin and keep doing that until you master it, once you do it then you can move to altcoins where the profits can be higher but the risks are greater. |
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I've never been paying that much attention to price before, during and after the possible crypto ban, but surely if some country was to ban crypto, people in that country would go panic selling and probably dump all of their coins from fear. That could probably have some effect on the price but it also depends what country it is, how many btc holders it has.
If the country banning bitcoin in your scenario is not a big player in crypto then the effects will be limited but if it is one of the big players then we will see a crash but like always something that may seem negative can in fact be good since that will be a way for us to get cheap bitcoin for a limited amount of time, after all even if bitcoin was banned in most parts of the world it is not likely it will be banned everywhere and so we will always have ways to trade and cash out our bitcoin. Well regulations should be healthy for bitcoin in the long run. It doesn't mean that when it is regulated, it gets banned. There are some aspects of bitcoin that can be harmful to the security of people so there should be some restrictions in a way to negate that. Though it may seem to be a negative effect for those holding btc, but we have to look at it for the long term Bitcoin can be a security risk we all now that but the biggest issue for governments is how are they going to regulate something in which they do not have any control, they can control when a person sells his bitcoin for fiat and require all kind of KYC policies but what are they going to do when we can buy stuff directly with bitcoin? What are they going to do to stop people from using bitcoin instead of fiat? |
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On the other hand, given the growing trend of new government regulations, this may be the beginning of a long winter.
This has been a constant hindrance to cryptocurrencies' growth over the past few years and governments don't seem to be backing down either as continued attempts to regulate cryptos has barely bore any fruit. Yet, it does not stop them from being stubborn and further ploys continue to play an indirect influence on the price, negatively. I don't exactly see it as a hindrance although government regulations has made the price go down a bit in the past. This doesn't stop investors from buying in crypto and there is still support even though government regulations will be made. Governments may try all they want to control crypto and impose regulations as much as they want but people will still continue to use their cryptos and find a way around it. Governments can really hinder the adoption of bitcoin and cryptocurrencies if they want, but right now we are not seeing an unified answer, some countries have decided to ban bitcoin some other countries have decided they want to legalize it but make no mistake if governments think bitcoin is affecting them they will ban it and it is likely the price will go down as a result making us losing money in the process. |
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Thanks to Segwit, the bitcoin transaction fee has finally dropped!
The lightning network has passed the field test, so we certainly hope to launch out of the chain extension solution earlier than originally anticipated, thus bringing a lower fee prospect for all.
Lightning Network are still at its infancy, there is still a lot of testing and changes to be made, but it could be the solution for Bitcoin's scalability problem  On other note, Bitfinex also lowers its Withdrawal fees by 25% All thanks to Batching, Segwit, and Mempool being empty https://verifiedtopics.com/bitfinex-decrease-btc-withdrawal-fees/What a time to be alive, eh  It is too soon but this could be the start of a new trend, the fees have been an issue for a very long time in bitcoin and it was about time something was done about it, we are finally seeing the first results of this and when the lightning network is finally put to work we may see the beginning of a new era where bitcoin can be used again as a currency to exchange for products and services. |
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But seriously, what do "technical indicators" really do for most people? Nothing. If it really did then everyone would be "winners". But sadly that is not the situation.  Most traders are losers. 80% or more. TA doesn't just work. TA (when done correctly) just suggests statistically EV+ trades given proper risk management. Even if your charts are good, you will consistently lose money if you can't manage risk. Ten small winners are easily wiped out by one big loser. That's what most people do. Then they say "TA doesn't work!!!!!!11!" Wrong. It is not because technical analysis just "does not work". It's because most of us do not know how exactly and when to apply it. Most of us are nothing but amateur traders who are going against the "pros" who are better and who have the experience. Plus more than 90% of traders are losers, not 80%. Also technical analysis does not apply to coins with a low market cap so this means that technical analysis only applies for the top 100 coins the rest of the coins need to be traded using fundamentals and by keeping your eyes on the news and the hype, this is why even a master at technical analysis will lose his money if he keeps his eyes on the charts on those coins. |
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it can be profitable if you know what you are doing. otherwise if you are just playing around and buying things wishing they go up instead of really making educated trades, then it can not be profitable for you.
for example when you say "the whole market is red" it means you are not seeing the market because even during the "red" times there are opportunities to make money. for instance in the past couple of days DigixDAO was pumped and gave a nice profit although everything was red. so did at least half a dozen other altcoins. and that is ho you day trade in altcoin market, you find these coins with a pump coming and invest in them and dump as soon as you are satisfied with the profit.
Yes the market always offers some possibilities to make money no matter the circumstances but it is not for the lazy, if you want to earn a lot of money then you need to go and look for the opportunities, in a way it is very similar to investing in the right coin, where you need to look through dozens of projects to find a good coin, you need to do the same with trading, you need to look at many charts and find the best coin to trade for that day. |
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the last few weeks the market looks sluggish, hopefully as a sign of preparation for the highest peak, and have an impact on altcoin rise..  The market is probably going to remain this way for some more weeks or months, I'm bullish for bitcoin in the long term since it will be almost impossible for the price to go down over the long term but in the short term I do not see many signals the price is going to recover that fast after all I do not see many positive news or developments that could push the price up. |
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I started trading bitcoin 2 years ago. When I was new at trading I used to trade every day,I mean every time I had Bitcoins on my account and whenever I sold my alts at a good price I used to open new trade every time. I spend almost all of my time before my computer screen for trading. Good to mention that the market was bullish and I was enjoying trading these days. But later then the market was crashed and sadly I dont stop my habit of trading and I got into a big loss.
Then I started doing research about the bitcoin trading history and I was learning lessons from every where I can. And from lately I set up my own strategy of trading. Now I trade whenever I thing its right time to put my bitcoins in the market.
That last 2 year was full of ups and down.
I learned so many lessons about bitcoin trading.
What do you prefer when you trading bitcoin?
Are you a part time trader or full time trader?
Lets talk about our own strategies about bitcoin trading.
When everything in the market is fine it is easy to look like the best trader since almost everything begins to pump but the good traders are those that can still profit even when the market conditions are hard, like it is the case right now, if you cannot do that then you are mostly dependent on the market and I wonder if you really have any skill at trading. |
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When the market is red it creates the opportunity to buy coins cheaper. It gives you the opportunity to increase your potential profits. It is better to keep the currency than to sell at the falls.
The market gives to us opportunities to earn profits in both directions the most obvious is when the price is going up and we bought a coin for a cheap price but you can earn money as well when the price goes down by shorting the coin you think will keep declining in price, however this is a risky option and should only be used for those that are experimented traders since the possibilities to lose money are very real. |
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Hi. Just wanted to know u guys opinion of do the day trading and hold. Thank you in advance.
Holding is safer and easier, day trading is harder and riskier, holding is a good option for those that lack the time or the knowledge to trade or that simply want to let their money invested in a few good coins and do not worry too much about it, day trading is for those that are willing to dedicate the time to the craft and that accept the fact they may incur losses but with the benefit their profits can be bigger than what the holders get. |
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I often get asked privately if Bitcoin is worth an investment. My answer is a whopping yes….invest your time.
The price fluctuation of Bitcoin is certainly fascinating, but how cryptocurrencies (and blockchain, more on that soon) will affect you, your job, your business, and humans collectively is far more lucrative.
The financial (and in turn, geopolitical) institutions are about to go through what the media (music, books, TV, newspapers, cinema) industry went through since the rise of social media during the past decade.
Your investment in time learning about blockchain uses will far outweigh the investing of your $ € ¥ £ etc..
This is nothing new, when a new technology emerges no one knows how to use it and then people need to learn new skills to adapt to the new world and those that do it the fastest become the winners in the long run, this happens in everything but one of the industries where this is more obvious is the IT industry if a new programing language appears and you are one of the first to get a certification that gives you a huge advantage over the rest that never learn it and those that take more time to learn it. |
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What website is the best place to sell bitcoin for paypal?
I have not traded in localbitcoins for a while but the last time I checked, some years ago, those that exchanged bitcoin or paypal asked for 100% the current price of bitcoin that is costly but taking into account all the scams I could understand why they did it, now if you are looking to sell your bitcoin for paypal probably the best place is this forum, but you need to trade with a green trusted member with a history of making those kind of trades. |
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One of BTC's strength, which is its deflationary nature, is also one of its greatest weaknesses. Like gold, its most valued utility is as an investment and a store of value if one was willing to take the volatility. But theres only one way BTC is going. Up.
With that said, tell me, are you willing to spend your coins for your daily needs? Then prove it. Because I dont. The opportunity cost is too great.
All currencies are assets as well, this is something usually forgotten and as long as bitcoin performs a better job being an asset then that is the use people are going to give to it, bitcoin as a currency is not very good, that will change in the near future but we cannot deny the best usage of our bitcoin does not come from paying our bills it comes from holding and trading and as long that is true that is what we will keep doing. |
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