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I wouldn't risk my funds in a coin that just created for fun. It might be hyped and pumping right now but in a long run it might not even survive for long. Maybe in a quick flip situation it's profitable since there's always a temporary hype where you could use for profiting. So far these meme coins are just surviving due to famous people acknowledging these kinds of coins for people to invest like Elon Musk.
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It's a good thinking to have a plan for your future in the next 3 years. But taking a loan for investing in a "volatile" system is just too risky. It could be advisable if you could pay up those loans because for sure it has interest and your salary are high that you will always have extra money for investment.
So you said you will put all your fiat money to digital which is a red flag, since in case you need money like fiat then there would be a problem since your money is at investment and at stake so it might lose before you even cash out some money. It's a good way to think positive in your plan but also consider the fact that there's also a big possibility that it may not go according to your plan so think wisely.
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I wouldn't quite agree with that, Bitcoin is the most well-known and widely recognized decentralized digital currencies, but it is not the only one. We have others like Ethereum, Litecoin and some others.
With bitcoin popularity in the crypto industry it has created a lot of branch of other alternative coins. Which means it doesn't have all the characteristics of Bitcoin carry. Bitcoin might be decentralized but some alternative coins might not be fully decentralized so in short, people may still rug those funds just like the government do where you funds are also not in your favor. Just do more research about in this industry, I think OP only have knowledge on the basic background of the crypto especially the popular one like Bitcoin. |
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As a young person, I am overwhelmed by my curiosity in trading Bitcoin, but I'm not sure if it is appropriate for me to resign my white collar work and return to trading exclusively Bitcoin.
This was a conversation a buddy of mine and I had yesterday, and I felt compelled to bring it to this illustrious platform for the best types of advice and counsel.
Is it safe for a Bitcoin trader to quit their jobs and focus solely on Bitcoin trading if they can devote their time and attention to maximize the benefits in the Bitcoin world?
It all depends on your choices, but if your white collar job pays well, I don't think quitting to start trading bitcoin is the best course of action for you to take. After all, you never know how the world will change in the future; perhaps bitcoin will continue to develop and enable you to trade for even greater profits. Therefore, my advice to you is to keep working at your white collar job while continuing to invest. Yes, it would still be better if you have alternate source of income and not relying to the profits you might earn in the Bitcoin. Because despite the knowledge and experience we are still not guaranteed what would be the outcome of Bitcoin in a mean time since it's volatile it changes from time to time. Just consider Bitcoin as your sideline so you if you income you could still enter funds in the market for you to invest. Simple as that, but yeah it's still depends if you don't have a stable job maybe learning and studying Bitcoin could be good still it would take time to fully understand crypto. In short just work and invest. |
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ChatGPT writes pretty good texts, at least in English. So of course it can write up good letters that can be used to scam people. Nothing revolutionary, but it can save time for the scammers. It can also help write code, although it often makes mistakes, just like humans do.
To me, it's a helpful assistant to spend less time when I need ideas or examples for classes I teach (I usually don't run with what it suggests but it helps me think of better ones), and with cryptos it's someone that can help me understand technical things when I'm not sure I understand (although it can also hallucinate stuff like that, of course).
This AI is actually helpful in many things it can be in work, studies and research. But if you only rely on the information that this AI gives which is some info are from articles meaning it just stolen, then probably you might get the wrong information and get scammed. Worse it might affect your status to work or even in the school. Same with crypto, of course you could still search for some info that Chat GPT can generate but still you should keep double check in the internet. Like examples and definitions. But if you rely on the predictions and calls from an AI that even human couldn't even predict, then you money is at danger. |
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Maybe you are referring to the position that an employee where the salary were based. Since in a working industry there's a lot of work that needs specific knowledge it maybe too hard to study it may take years like doctoral or law. So when the job it's difficult then you would get paid higher than an average work where you won't need wide knowledge to get the work done. But actually you're wrong, it's true you may need knowledge to earn that much but people who risk their safety with physical work could also earn more. Let's say a cleaner of windows of a building, his salary was fixed monthly since you won't need to clean windows everyday so he might paid $1000 per month. I actually saw this where people shaming his work not knowing his monthly salary is much higher than them.
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This happened to me already twice in a row. I'm gambling for a long time but this is the first time I experience this kind of messy situation because it involves the fck up mempool.
I deposit my funds in a casino using a low-priority fee. I managed to triple my bankroll by playing a quick game of Blackjack with huge bets. But since my deposit is so frickin slow to confirm while I don't want to bump my fee since it will create a different transaction on my account. Due to my winning streak while still waiting for many hours, I decided to just play slowly using a 1$ bet. This 1$ bet grows to all-in because I just keep losing for an insane lose streak just because I can't withdraw my funds.
Sharing my personal experience of my recent losses so that no one will commit this same mistake. Bet responsibly. I will stay away from gambling for a while now that mempool is starting to suck once again.
DON'T GAMBLE IF THE INSTANT WITHDRAWAL IS NOT AVAILABLE!
- It's difficult that while you're gambling withdrawal is not available, it's like the gambling platform deliberately created such a situation, the kind they want to lose all your matches. Think of it as winning in gambling but losing in the end. Then it seems like there is abuse on their platform because if they have the ability to manipulate their platform, they will take advantage of it so that they can unite their players. Exactly, of course casinos aren't dumb to counter that technique of gamblers whenever they win they could just instantly cashout so they wouldn't spend all of their winnings. So I think they literally made withdrawals unavailable for you to be stuck and spend all your funds in a casino. Some of the casinos have some quota or like minimum withdrawal for you couldn't do this technique. So if you've reach a certain withdrawals in a day then you could only cashout the nextday. I'm not referring to all casinos but some of them have this procedures. |
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Both could be possible since the two involved money which is trading. They only differ on the system of the trading like it's more open to volatile the crypto unlike to forex which makes it easier to predict and analyze. It could also be done to crypto but due to its high volatility it makes it difficult and much risky than forex. People also love the volatility of crypto since it's the reason for people to enter and gain profit. If I were to ask who would be better, then of course people who trade from crypto shifting to forex since there's a lot of things you should consider in trading when there's volatility present.
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The adoption of cryptocurrencies is certainly expected to make it easier for users to use or transact directly, unfortunately currently there are too many obstacles and challenges that make the adoption process slow, in my opinion the most important thing is to immediately legalize cryptocurrencies so that they can be easily developed and equivalent to fiat.
Government are not ready to face the challenges like issues when they legalized cryptocurrencies for people to use. Of course a lot would be curious and might prefer to use it due to its more convenient. However, if we look at it if people jump to crypto then the current fiat money would worth less and might cause the economic status of a country to fall. Just like the US, USD is widely used as transactions plus their economy is strong so once people preferred to use crypto then it might impact the economy. But we all know that US are slowly acknowledging crypto which is actually good. |
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Money is temporary and this money earns everyone income. Marrying money only because of financial well-being can never be the right decision. In real experience the few people I have seen who married someone for money or because of the greed of money are mostly unhappy people. Choosing the right life partner is very important in a man's life. You should marry a man who will stand by you at all costs and respect you will value your opinion and consider your family as his family but if you get married to someone who is greedy for money then he will never respect your family or your opinion. Since money is a flowing asset, choosing the right life partner should be given more priority than money.
This whole approach of marrying rich whatsoever is wrong because these things are temporary and you cant live with them yes you need them for a smooth life but this cant be your everything. For a normal healthy life you need a healthy relationship either its your partner or family you need love respect and care for leading a healthy life and unfortunately nothing of them can be bought by money. Exactly, marrying someone doesn't mean you will rely to them in many other things such as financial. You don't need to find someone rich that could support and sustain your needs, it's more like patching a bandaid to your problems. Once you've healed you will just throw away the bandaid or you will just keep them for your own convenience. Which could be compare to someone who marry for their own convenience, they are not tools for you to have a convenient life you should take an effort and act for yourself. But if you are already independent then it would be a good choice if you find someone who's also independent for both of you doesn't need to rely each other much more if one of you is down then you could comfort them. |
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Investing itself carries risks. While investments have the potential to bring returns, they can also result in losses.
Investing requires time and patience, treated with prudence and rationality. Investors should conduct sufficient research and diversify investment risks to reduce possible losses.
Also starting with small amount is a must in investing so despite being a newbie or lossing some assets you could already gather some knowledge and techniques once you experienced loss. Of course I am not saying to rely on your losses for you to have informations regarding investment. We're on the era of the internet where almost every information you could search online. You could also attend some seminars first. In short there's a lot of process for you to master investing so in that way you could profit and be rich. |
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I don't believe it will make big effects but have it is better than don't have it. It will be helpful for Bitcoin adoption even it is a small contribution.
Your try is a lesson to teach children about savings that are helpful for their life. If they work but don't make savings, they will have financial problem anytime. It's a good lesson for financial safety and reserve for emergency first and if better can help them richer.
Put a Bitcoin logo on piggy can help to make some impression on children and it might be carved into their minds. Some of them will remember a Bitcoin logo and a part of those children will have love with Bitcoin.
Exactly, especially they would have an idea why there's something called Bitcoin on their piggy bank right? Which makes them curious already about it since saving money is already related to Bitcoin. Since in Bitcoin there's also money involved which is already a good thing, imagine they grow whenever they tried to save they would have this image of Bitcoin. It might not have a huge effect but it's better than nothing, OP's effort is already commendable as his methods of introducing BTC involves money and teach them to save money. This way also doesn't even force them to learn Bitcoin it's like it has been introduced to children so it's up to them whether those children do their own research soon which will be their advantage in the future. |
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You could give them gifts or open up a kid party without mentioning the Bitcoin's name. Because some kids are not matured enough to absorb those knowledge even the basics about Bitcoin and for sure they would just focus on enjoying like some games. But if they are matured enough like 10+ maybe a little quiz games with a prizes as a reward whenever they answer a questions about BTC. Of course you would introduce the basics like the definition of BTC in simple way a presentation with more on visualization since kids are more into photographic memory. Then you could simply start the game and let them enjoy. If you still have the budget you could just print some Bitcoin logo like keychain for them to remember the event.
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To increase the profit is also to increase the number of assets don't limit yourself to just one source of income and stick on it with just keep yourself making savings because you are afraid to the business and investment, in life and reality the people who have the higher risk takers have the chance to win in life because they experience a lot of failures and capabilities to adopt and what to prevent, people getting rich they know how does the market move, how to adopt in environment, what peoples need and keep risk to invest. Keep proper money management to prevent lose on the track on expenses.
Yes and of course some people those downfalls of their business and failures they take it personally like they have in mind "maybe I'm not suitable to run a business" mindset. That's why taking a risk in a business is considered as a win-win situation where if you've success then good for you, but in the case that you've failed then you could learn from your mistakes and improve yourself. Find the reasons why you failed, learn more about running a business and attend some seminars even in the internet. But from me, I've also experienced that thought if I invest it might be gone for nothing, but it was changed when I took the risk. You could find more opportunity if you act than overthink that you will fail. |
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As a newbie in trading 20$ is a good start, there's no point if you start trading with a big capital because theres a possibility that you will loss it because you are in a learning stage or you still collect some idea to make a perfectly trade and if you start with a big amount of money you will surely regrets at last.
capital of $ 20 to trade on the spot market I don't think it will develop well, unless you want to trade on Binance futures then you can double your money, but indeed the risk you have to accept is also very high, because futures trading if you are wrong and you are not wise then liquidation will happen to you. Yes it's still depends on how you use that $20 in trading because some couldn't even last in the market once you enter with that amount. But still starting with small amount is a good way to get experience and to be familiarize with the system, I am not saying that he would lose that $20 fast but we all know that there's no beginning without a loss since it's a part of our development and skills in this industry. Watch some videos and learn a lot cuz I got liquidated the first time I deposited money. |
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Bitcoin is already an unofficial currency,
Yes! Some people use it as a currency, but if we want to see mass Bitcoin adoption, to be able to pay with it everywhere and not just in a few stores, we need to understand that it can't be just an asset to most people. I honestly don't know how to solve this problem, but from what I see, people won't be using bitcoin as money as long as it's an asset that is dumped 3 times a week. I'm afraid that soon no one will talk about bitcoin as a technology, but as a cool asset to trade to get a quick buck and then sell and wait for it to go down again. That way, it will never be even close to 'stability'. Exactly, Bitcoin just stands for an alternative currency for some people especially to it's users. We couldn't just expect people to understand how to have an transaction using Bitcoin since they are not widely known yet. I think as long as fiat money exist, bitcoin wouldn't be used as currency since despite the convenience Bitcoin gives you still have to use technology to transact unlike trading of paper money as payments to any store. Plus people already adapted for a long time using fiat money as transactions so it Bitcoin became a currency where most people use, then probably there's something wrong in the economic status of a country. |
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I think you have to prove that investing in bitcoin can make your economy better.
This is what TOP should do instead of keep complaining about his uncle. Maybe he doesn't know about bitcoin and he wants the best for OP too, that's why he told OP to stay away from bitcoin. OP, arguing with your uncle is not a wise move, instead, you should find a way to prove your choice is correct. Try to build your bitcoin investment to make a profit, and prove your life is better than investing in bitcoin, then your uncle will no longer doubt and despise you. I just want to share that some people even proving some point for them to understand, they would stick to their fixed mindset where they are the right one, especially if you are younger they would just think you don't possess the experience for that kind of involvement in this industry. That fact that he provided already some background already about Bitcoin is enough for the uncle to understand. You don't have to prove someone that doesn't even listen to your point. That's why it's a good thing that his brother supports him about Bitcoin. And I wish luck to both of them to succeed in this industry. |
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Elder people really doesn't want young kids to be better than them, for sure he would say something that might cause you to not continue investing at Bitcoin. It's either he knows the potential of the Bitcoin or not because a bear market doesn't mean the end of Bitcoin, it's the good time for people to enter the market where you could buy at cheap prices. You are not harsh, you just answered him the truth that he doesn't even take it personally cuz maybe he really thinks his better thank you as an "older" which is more experienced. Learning Bitcoin is open to anyone even kids could learn this so people should mind their business if people are exploring things out like Bitcoin. Trust the process and good luck to you and your brother.
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When the world economy is collapsing due to the effects of inflation, people are confused and do not know what to do. They are withdrawing their money from banks to survive this recession. , inflation on the other hand has put the bank's bankruptcy in extremely. Practically, those who are investing in Bitcoin in this situation must have taken a good way, and many others have invested in Gold because they do not have good ideas about Bitcoin. However, since the unlimited supply of gold, its price may decrease at any time, but bitcoin suply is Limited, it will naturally increase its price and be the only guide to protect against inflation.
well, if we talk about the problem of inflation, then the way to save it is by investing, and the OP only gives gold options, so gold is an option to survive temporary inflation. however, if there was another option, many people would occasionally invest in crypto, particularly bitcoin. Personally, generally, if economic conditions are normal, I choose to deposit, that is the safest way to save money, but when it comes to investment issues, then I will choose gold. however, if conditions are inflationary, the safest option is to choose gold to normalize. Investing in gold is actually good like you said it can temporary avoid or survive the inflation. That's why if you're gonna invest into something it would be better to not put all your funds in one basket like the quote said. Because there's always a risk involved in this thing it's either loss or not. It always be better to have some alternative investment other than gold like you said crypto industry or real estate. It depends on how people handle the economic issues that might affect the money problems. Bitcoin is a complicated system especially if you don't have some background, people thinking buying gold or in real estate is just easy unlike Bitcoin so it's not popular even these days. |
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