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August 20, 2017, 04:49:31 AM |
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For such a basic question, why are there 20+ pages of people saying the exact same thing?
"Mining is expensive. Trading is easy. Trading is profitable. Too late to mine. But trading, trading is cheap. And trading is how to make money."
Will someone explain what they mean by trading? You mean buying and selling like day-trading stocks?
Or....do you mean selling your bitcoin to someone who needs to purchase using Paypal or venmo or cash?
If we are talking about buying and selling BTC and trying to accurately forecast the fluctuations, then by no means should people just start throwing away money. The only reason every knucklehead who opens an account is making money is because the price has gone straight UP. (Everyone was making money in .com stocks too throughout the late 90s.... Pretty easy when all you have to do is buy.) If this is the idea - then can someone point me in direction of a blog/book/theory or investment trading philosophy? What is everyone doing to make such easy returns.
If I was to answer the question, and Im sure some people mean this also - just buy it and watch the account value fluctuate to get an understanding (minor minor understanding) before diving into "trading". Buy and hold and forget about it and itwill probably be just fine.
If you want to invest, do it the right way first and then sniff around more speculative stuff like crypto.... Consider this please: Split your capital between SAOIX and RPMGX, set up 100 dollars a month going into it every single month, and forget about it. It will make you a millionaire someday. "Compounding returns is the most powerful phenomenon in the universe." Einstein. Seriously though... Download Stash or Acorns to start simply - and if you can forego a few starbucks and liquor store and weed runs each month. You can become a millionaire.
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