These days, as more people become more aware of forex and cryptotrading, There are a lot of people giving unsolicited advice and tips as regards the subjects. The big question is who and where do you take your trading advice and tips from?
Do you get your trading advice and tips from a self acclaimed trading guru on YouTube or some social media platform who sometimes make most of their money from selling courses and not really trading?
Or do you take trading advice from this forum?
Do you get advice and tips from some telegram group you joined? Or do you get advice and tips from your friends?
When it comes to trading and deciding your next move you should always try to look for the hive mind option where you see what a group of people are thinking and what are their point of view towards a lot of things, whether it is from this forum or some telegram trading groups, the important thing to take in mind is the market is going to move based on what these traders are going to do, so never trust individuals who claim they are experts and just try to make your own decisons. |
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I think that if exchanges accept CBDC and bitcoin trading, people who are constantly trading bitcoin for just fiat profit would defiantly find it more convenient, since probably the stable coin made by the government would usable anywhere, but i don't thin that it would get that popular since it is controlled by the government and it would also be subject to income taxes which many people don't really want.
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I think that a lot of people when they start out they follow some influences or so claimed experts blindly, and when they lose they just blame the person or the method rather than reflecting on what they have personally made wrong, sure you can follow some experts but the market is unpredictable and no one really know how things are going to go, and people find it easier to blame others, the point is experts are not going to make you rich because they are not always right no matter how credible they are.
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With anything in life you can't really learn about something from and objective point of view, every thing that is learned in theory can not be applied to real life, especially in domains like economy where everything is constantly changing and markets are always moving, you have to experience things on your own in order to form your own opinions and make your own decisions, i for example have a degree in busies management and what i have seen on the field is way off from what i have leaned from collage.
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I think that a lot of the bitcoin miners that were in china had their plans already made to move elsewhere longbefore the Chinese government started making some harsh actions, because they have talked about banning bitcoin many times, and china is really know for burning coal to generate electrical energy which is the number one polluting source, and linking the high hash rate and the electric use of bitcoin mining we can say that it really was bad for the environment in a way, but now with them banning mining and a lot of them moving to other places where energy producing is more environmental friendly we can say that bitcoin mining will be clean.
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I think this truly what the bitcoin was created for and this is what people should take and should aim for when developing a cryptocurrency, the ability to be able to ascend all the ties and all the shackles put on by our governments and the control that they have over us, the bitcoin is making the world a more balanced place by giving power to the people and providing new opportunities for those who can't find it because it is not provided by the country.
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The world has been depending on burning fossil fuels for energy, throughout all these years. With dependence on fossil fuels, soon enough these finite materials will be depleted. Not only that, but it also has adverse effects for the environment, everything from air to ocean and land pollution.
Fossil fuels include, coil, oil and natural gas, with the latter being cleaner that oil and coal in terms of emissions. Let's also keep in mind how strenuous of a process it is to extract oil, promoting environmental disasters.
Most common renewable energy sources include, solar energy, wind energy, hydro energy, tidal energy and a few others.
The big question here is, can the world be 100% dependent on renewable energy sources? How can that be achieved and are they sustainable?
In theory no, the world is far from being able to solely relay on the renewable energies such as solar or hydro, due to the fact they are not that efficient, but i am surprised that no one mentions nuclear energy, believe it or not it is actually considered as a clean energy, it has zero emissions and it is know for producing a high amount of energy compared to all the other renewable and non renewable resources, maybe a lot of people have the wrong idea about it and they think its dangerous, but it is really not, not at the current technological and technical advancement that we reached, and i really think that the solution lies with iot and if we develop it more we could make it work. PS: here is a link to a YouTube video explaining it if anyone is interested : https://www.youtube.com/watch?v=EhAemz1v7dQ |
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Hopefully I'm not alone in this thought but what is the end game? The way I see it is that these last few years of price movement is just price speculation. Complete idiots are putting money in this machine and expecting a profit. Too many people don't know anything about how BTC even works.
I just don't get it. Am I just maturing in my opinions of this industry? What is the end game here?
I know what I did, bought low and sold high and moved along. My profits are measured in my local currency, I don't see how BTC will ever fill that void to be universal.
Do we just wait patiently, buy the dip over the next year or so, and sell our bags to the next wave of dreamers? I miss the days when BTC was just this interesting internet money that was on the darknet.
Thanks for reading, would love to hear if anyone else has these thoughts on a daily basis.
I personally think that the whole idea of bitcoin becoming a global currency is not going to happen, all the people that invest in it just like you said are in it for the money, they buy low and sell high, bitcoin has become an investment rather than a currency, and this is getting more and more the norme the higher price it reachs where people are just blinded by the opportunity of getting rich from it, and i think we are past the point of no return and we just have to accept this as a fact. |
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Probably bitcoin and crypto in general really did shine in the midst of this pandemic, because of how many people lost their jobs and they were not able to leave their homes, they found bitcoin and crypto as an alternative a way to make an extra income either through investing, trading or whatever that is linked to it, while the rest of the world was going down the value of the cryptocurrency went up, and even after the pandemic ended a lot of companies and investors started considering it as an option due to how successful it is.
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What are we but another number for the government, and basically they can do anything to you wipe your bank account wipe your whole life, they are able to control everything, if you think about it and how the fiat came to be, it was first backed up by gold and than governments decided otherwise and they started valuing the currency as they please just because they are able to and they are in control, so in reality they are just selling us lies and forcing us to use their system that is corrupt, and that is why bitcoin is the solution and that is why they are against it.
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My biggest mistake in crypto is that i didn't invest early in bitcoin and crypto, i heard about bitcoin back on 2011 and it stirred my curiosity but as young as i was then i didn't stick with it till the end and i didn't give it that much attention, until i learned about it 4 years later and how it became a big thing, and i know that i missed my chance to make some huge investments, and that is one the mistakes that i keep thinking what would have been, and since then i stopped having second thoughts about anything.
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As we know in china everything is restricted, and everything is controlled by the government, from the internet to how the people think, and them banning bitcoin mining and going hard on crypto in general comes with no surprise, i was even surprised that they have waited until now to do so, and that is due to the fact that they are unable to control it and monitor the transaction that people have and with a growing popularity it would threaten their authority, so that is why they have banned it, and i am pretty much sure that they might introduce a crypto currency that they will be able to control.
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i Think that bitcoin has somewhat been decentralized from the beginning, the fact that there is no one that can control the flow of the transactions is a proof of that, people were concerned about whether it was decentralized or not because china had the most of the mining power there, but since the government has strictly banned it, i think that whole idea is out of the way, and i don't personally think that we will ever have any crypto that is going to be as popular and as successful as bitcoin and the more popular it is the more decentralized it gets.
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I think that for the past couple of years i have seen more about bitcoin and crypto in movies/ series and games, it sort has became more of mainstream thingy and i think that it really influenced the popularity of it and put it out there, even though that some of these mentions did not really put it in the best picture that is, but at least it moved the curiosity of some people that made them look it up and lean more about it, i know at least a couple of people who got invested in bitcoin because they learned it about it from the movie crypto.
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When it comes to believing in something whether its bitcoin crypto or any other thing in life, you will have a lot of people who would tell you not to do it or its a stupid idea and they will disagree with you, for one reason or another either they have no idea about it or they have personally tried it, you always have to trust yourself and believe in what you see right as long as it has no threat or negative effect on your life. and when it comes to bitcoin or crypto, this is overlay common because of the negative image sent out by the media about it and the idea that they have planet it in a lot of people's minds about how it is used by criminals and overlooking the positive things that brings, and it is our job to promote the positive side of it and change that idea about it.
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I personally feel the same when it comes to investing in crypto, i know that you might be able to make some profit from investing in altcoins but most of them really require you to be always up to date with what is happening otherwise your investment would go down and you won't make any profit from it, bitcoin on the other hand is more safe and investing in it is easy especially if you are planning for a long term investment where you just buy it and just wait.
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I think when it comes to mining you have to take in consideration the cost of electricity, since it varies from one place to another the cost versus the profit that you would get from mining is much more variable, and the investing and holding is really dependent on how much you put into it, so if you really want to mine bitcoin efficiently you should think about making an investment into some clean energy production system like solar panels if you want to make bitcoin for free.
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I first heard of it when I friend of mine said(jokingly) that he could get anyone assassinated for 6BTC on silk road. I asked what it was and he said that it was an online currency that nobody uses. I googled Bitcoin..I have not slept since.
:3
How did you first hear about Bitcoin?
I first heard about bitcoin back in 2011 when the news report showed a man mining bitcoin with his old computer and making money from it, it got me curious about it but i was young and it didn't stick with me so i never invested time into learning more about it, until later on when my friend talked about it and i remembered it and started to look up it more and learn about it, and until this day i keep thinking what would have been if i chased it back in 2011. |
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I think that most of the bitcoin mining farms, are using clean energy to power their equipment, and i mean the big companies that are constantly mining 24/7 and not the individuals that run a mining rig from their garage, because in the long term the power consumption cost is very high and makes the profit from the mining highly dependent on the price of the bitcoin, but if you invest in a solar power or wind power energy system, you can start making bitcoin for free as soon as you pay of the cost.
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Some countries now ban the use of Bitcoin, or banks restrict cryptocurrency transactions, resulting in an increase in the number of long-term Bitcoin holders.
For example, in China, China prohibits the use of Bitcoin. If I were Chinese, I might be more anxious. Some ways can be found to avoid being caught by the Chinese government. I will consider putting it in a cold wallet. In this case, you can only choose to hold for a long time. After all, there is no exchange to trade,
So will anyone give up Bitcoin?
probably the ones that give up on bitcoin when governments starts to ban them are the businesses that are based on them, whether its sites or shops or whatever that uses bitcoin or crypto in their transactions, if governments decide one day to ban it they would go down, but even then they won't give up and maybe they will try to find other ways or other places to shift their business to, and to be honest i don't think that government have the ability to totally ban crypto or bitcoin, if it has value and people still use you will find people that will use it in the shadows just like any other thing that is made illegal. |
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