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Author Topic: The Risks and Rewards of Cryptocurrencies  (Read 1700 times)
shoreno
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July 13, 2019, 08:03:16 AM
 #41

~One way or another, in order to get real results from your investments, you first need to study each project that interests you.  Only if you are confident in its prospects, only then you need to buy These coins.  Otherwise you will not have any result.

Unfortunately, our confidence rarely helps in real life. Even the best experts in the world make mistakes sometimes, not to mention ordinary people like us. There are many projects that look very promising in their whitepapers and road maps, but they fail to deliver in the end. Instead of studying a project, I would rather study the team behind it and the big names that support it.

confidence cant help you at all times  . let say for example your too confident to pick up a shady coin but unfortunately the coin got crashed becasue it was only a pumped and dumped  . see? but at least your confident to try than sticking on your comfort zone and not trying at all   .  studying the team or names does not differ from studying the whole project because there is a potential that they could fake it all  . scams are everywhere these days  .

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July 13, 2019, 01:56:03 PM
 #42

BBC recently did a interview around the volatility of cryptocurrencies. I think we are still so early in this industry but I would love to know your thoughts about where we are going and how you think the landscape will change.

People in the podcast include:

Marc Warne, Founder, Bittylicious
Jemima Kelly, reporter, FT Alphaville
Dave Jevans, CEO, CipherTrace


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The real impact of this technology will be sensed in the next 20 years. IT is like smartphones, once is in our daily basis you cant get away and we need this kind of technology in our life, if could make it so much easier.

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July 13, 2019, 03:16:43 PM
 #43

Cryptocurrencies are all have risks and accompanied with high regards as well, though volatility in the market exists still it is worth the support from the crypto community and still crypto currencies are still surviving and getting stronger due to the mass adoption that many people are more interested and invested on crypto market. To succeed in crypto each of us must have patience, timing and most importantly knows how to HOLD. As the saying goes "High risks, Big rewards".
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July 13, 2019, 04:34:40 PM
 #44

Everything has risks. It is up to us if we are prepared to face it. There are many risk when you invested in cryptocurrencies because market is very volatile. If we know well what we get into we can minimize those risks. I invested in crypto because I'm more thinking that it will have a great value in the future mostly bitcoin.

the risk is always there in each of our trips, and that risk can never be avoided if we have done something very risky. actually an event has a risk. because so that we can be confident and dare to move forward, and say that the risk is not dangerous for me.
Actually the amount of risk in cryptocurrency depends on each individual user, if they have no knowledge in crypto and do not have skills in crypto trading then the risk is certainly much greater, the reward you will earn will be even greater if your skills are higher Smiley

we should have the courage to face a risk that will occur. because the risks on our journey are a challenge for us going forward. because sometimes the challenge is the beginning of our progress going forward. so we have to fight for a good future again
Well elaborated, you have mentioned both the risk and the benefits of using bitcoin, as much as I know bitcoin has no side effect in our life, if we will use it properly for getting profit I am sure it will give us fully benefit, if you consider trading as risky then just increase your knowledge about trading so you can avoid risk otherwise trading and using bitcoin in any field is fully profitable, holders get good reward at the end.

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July 14, 2019, 11:01:43 AM
 #45

~studying the team or names does not differ from studying the whole project because there is a potential that they could fake it all . scams are everywhere these days  .

There are people who think that anything can be faked on the Internet, but I don't belong to this group. I think when someone is listed as a developer, and this person confirms that on their twitter(or any other social) account then it's true. Scams are everywhere, but they are so easily spotted by a trained eye that people ignore them without even noticing. Besides, do you really think that it's easy to come to some right conclusions after studying the whole project? I don't think so. Many projects look very promising, and it's impossible to tell whether they will fail or succeed in the future. So, I think researching about the team members provide you with more useful information.

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July 16, 2019, 04:54:58 PM
 #46

Exactly.Crypto investment has always been risky but the profit we can reap is really worth the risks.Nobody here can exactly predict the future of crypto so it turns out to be just like gambling but there is more chances of making gains here than in real gambling.As long we never sell our coins when price dumps and continue to hold,still we can make good profits. 
To be fair every single investment has a risk, but one of the biggest problems I see is the mentality of those that enter the market, in other markets people are not really looking to become rich overnight, they are only trying to multiply their capital slowly and methodically but in this market people invest all their money in an unknown coin and the chances they lose their money by taking such a reckless action is very high, or even if they invest in bitcoin they use leverage to try to diminish the time needed to get huge profits not realizing that by doing that they risk losing everything.



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July 17, 2019, 06:32:35 PM
 #47

I am a person that literally lived the risks and rewards of cryptocurrency in the past couple years, I have been saving up bitcoin and using it for stuff for the past 3 years and so far sometimes when I save bitcoin aside the amount of bitcoin I saved increases however the amount of dollar I have drops because bitcoin price drops so even though I have more bitcoins each and every single day the amount of dollar I have sometimes drops, however at the same time I spend some of it time to time and even though I have spent the bitcoins I saved the amount in dollar looks unchanged even more the next day because bitcoin increases.

So, as you can see I have actually lived the ups and downs of being a bitcoin investor and sometimes it is really good but sometimes it makes you feel bad.

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July 18, 2019, 04:09:30 AM
 #48

Risks are always part of cryptocurrency. One who has the mind to take risk gets the benefits out of the same. One example for the same is the recent price drop.

I sold an ethereum for $330, and bought back at $335 fearing the price has begun to increase. If I had got the mind to risk, then I could've have had patience and bought back at $300 or if I was good enough to study the market I could've bought at $200. What I missed is the profiting.

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July 18, 2019, 06:39:10 AM
 #49

I sold an ethereum for $330, and bought back at $335 fearing the price has begun to increase. If I had got the mind to risk, then I could've have had patience and bought back at $300 or if I was good enough to study the market I could've bought at $200. What I missed is the profiting.
I feel your pain buddy. But you should know this that there are people who have been through this and this is not something that only a few people have been experiencing. These "losses" so to speak and common in any speculative market and they are the reasons why people trade on them.

At this point you should just hold your ETH till the price rises above your buying point. Make a decision in your mind whether it is profitable for you to hold ETH or BTC and dont blame yourself for that later on.

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July 18, 2019, 07:14:33 AM
 #50

have thoughts like yours that are needed by bitcoiners today. do not panic when prices decline, because patience is needed to wait for the bullrun to occur. and we are paid dearly to have that patience.

That is what you need to be a great investor and a trader, patience especially if you are dealing with cryptocurrencies.

With the sudden price drops, you can't avoid getting disappointed sometimes. You never know what might happen that is the reason why you just keep calm and just ride the flow. Patience, knowledge, skills and money, that is what you need to become a successful investor or trader. Risk is always there especially cryptocurrencies but the rewards? Man, you will not be disappointed.

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July 18, 2019, 09:58:52 AM
 #51

I also think that we are still in the early stages of the crypto market. Although there were many ups and downs, the Rekt periods were serious but I still believe that the crypto market will soon be a decentralized market with a total market capitalization of over trillions of dollars.
You can see, in 2017, there were just over 800 - 900 businesses in the crypto market, but after only one and a half years, the market now has over 2200 coins in operation.
This shows that the spread and extent of Crypto's influence is huge.
In the future, there will be a lot of businesses operating here and we will have a big financial market not unlike the stock market.

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July 18, 2019, 06:24:41 PM
 #52

I sold an ethereum for $330, and bought back at $335 fearing the price has begun to increase. If I had got the mind to risk, then I could've have had patience and bought back at $300 or if I was good enough to study the market I could've bought at $200. What I missed is the profiting.
I feel your pain buddy. But you should know this that there are people who have been through this and this is not something that only a few people have been experiencing. These "losses" so to speak and common in any speculative market and they are the reasons why people trade on them.

At this point you should just hold your ETH till the price rises above your buying point. Make a decision in your mind whether it is profitable for you to hold ETH or BTC and dont blame yourself for that later on.
Mistakes are inevitable things yet no matter how good we are on analyzing the market with its due behavior which is

very speculative ones then we would still lose up.Waiting for recovery?This doesn't suit out for anyone specially for those people
who don't have much patience on looking up their current holdings.



.
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[15.00000000 BTC]


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July 19, 2019, 10:11:57 AM
Merited by BTCappu (3)
 #53

Look this is bitcoin and it is volatile, there is nothing you can do about that, the price will sometimes go double even triple of what it is in matter of a month and then one day it will go down 20% in a single day as well, there is really no way of knowing which one will happen so you gotta just hope for the best.

If you can actually live with that then sure go ahead and jump into crypto and do whatever you want, this is a trillion dollar world and you can actually carve a space for yourself here, anyone can. If you fear that you are going to lose money and can't be part of something risky then this is not for you. I have lost a lot of money in crypto but I also made a lot as well so instead of focusing on the bad days (like right now Cheesy.) I focus on the good days which I had plenty of as well.

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July 20, 2019, 07:13:15 AM
 #54

Look this is bitcoin and it is volatile, there is nothing you can do about that, the price will sometimes go double even triple of what it is in matter of a month and then one day it will go down 20% in a single day as well, there is really no way of knowing which one will happen so you gotta just hope for the best.
20% gains in one day is not a common thing.

The average movement is around 5-10% max and unless some big news makes it into the market we dont see a 20% or more gains. But 20% losses are common specially during any session of selling pressure when bitcoin is getting attacked heavily from opinions of several big names and social media is also making sure to promote these articles. Media is basically a double edged sword, who would both help in pumping and dumping bitcoin. So there you have more of a risky move if you follow them too much.

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July 22, 2019, 01:24:26 PM
Merited by sana54210 (1)
 #55

Look this is bitcoin and it is volatile, there is nothing you can do about that, the price will sometimes go double even triple of what it is in matter of a month and then one day it will go down 20% in a single day as well, there is really no way of knowing which one will happen so you gotta just hope for the best.

If you can actually live with that then sure go ahead and jump into crypto and do whatever you want, this is a trillion dollar world and you can actually carve a space for yourself here, anyone can. If you fear that you are going to lose money and can't be part of something risky then this is not for you. I have lost a lot of money in crypto but I also made a lot as well so instead of focusing on the bad days (like right now Cheesy.) I focus on the good days which I had plenty of as well.
20% is quite possible, maybe its not common I agree but considering it moves like that in couple days it is disingenuous to say that its rare in daily moves, yeah maybe not daily but quite common in couple days at most. We have seen bitcoin move triple of what it used to be in couple months recently, so if you are lucky than you could make that type of differences.

The point however is that bitcoin make huge movements, it goes up and down in very big numbers and that is something common for us, if you go into a coma and wake up at the end of this summer (say September first) and you see bitcoin at 3 thousand dollars or 30 thousand dollars, would any of them shock you? Would you be "how did this impossible thing happened?" or would you be more like "well its bitcoin, figures". I wouldn't be shocked, it happens in bitcoin.
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July 22, 2019, 05:46:56 PM
 #56

The risk is an ordinary thing that we have to experience in investment and the reward is our right in investment, it is only natural that we get a reward when we invest because we have spent enough capital for this investment and not all successful investments and even losses in the end  and that is a risk that we must accept

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July 23, 2019, 06:10:35 AM
 #57

Exactly.Crypto investment has always been risky but the profit we can reap is really worth the risks.Nobody here can exactly predict the future of crypto so it turns out to be just like gambling but there is more chances of making gains here than in real gambling.As long we never sell our coins when price dumps and continue to hold,still we can make good profits. 
To be fair every single investment has a risk, but one of the biggest problems I see is the mentality of those that enter the market, in other markets people are not really looking to become rich overnight, they are only trying to multiply their capital slowly and methodically but in this market people invest all their money in an unknown coin and the chances they lose their money by taking such a reckless action is very high, or even if they invest in bitcoin they use leverage to try to diminish the time needed to get huge profits not realizing that by doing that they risk losing everything.
The mentality of the opportunity come but once is what is making lots of them take unnecessary risk in the cryptocurrency market, and you are right, they will never take such risk in other market like Forex and stock. Look at the way they are abusing margin trade in the cryptocurrency market, to an extent that someone would dare risk 100x leverage in this very volatile market, people are just so funny on how they want to take advantage of a system they no nothing much about to make lots of money overnight.

The wisest people are just the ones you talked about, they come with the mentality of just gradually increasing their capital and not think it would make them extremely rich overnight, although this was the mentality I came with too until one of these useless coins dealt with me severely.

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July 24, 2019, 04:06:20 AM
 #58

I am a person that literally lived the risks and rewards of cryptocurrency in the past couple years, I have been saving up bitcoin and using it for stuff for the past 3 years and so far sometimes when I save bitcoin aside the amount of bitcoin I saved increases however the amount of dollar I have drops because bitcoin price drops so even though I have more bitcoins each and every single day the amount of dollar I have sometimes drops, however at the same time I spend some of it time to time and even though I have spent the bitcoins I saved the amount in dollar looks unchanged even more the next day because bitcoin increases.

So, as you can see I have actually lived the ups and downs of being a bitcoin investor and sometimes it is really good but sometimes it makes you feel bad.
There is always risk in everything, and the fact the risk is big does not mean it will bring a big rewards, there are some risk that will make you and there are some that will mar you, the only risk that you should take are risk that you are quite sure is worth taken, don’t see risk in things and see it as opportunity.

Someone once lectured me on how to trade shitcoins and make money, he has done it once or twice and has taken so much money, which is you get to buy some shitcoins before a whale pumps it and then you quickly sell off during the pump. This was a very big risk, and I decided to try this risk too, and then I decided to put lots of money into one of these coin that is yet to be pumped, but instead of it being pumped, it kept in declining till I lost that investment.

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July 24, 2019, 04:29:41 AM
 #59

Well the only risk in Bitcoins is loss and the only reward is profit.
What's important is on what extent these things are.
We we keep our Bitcoins secured and do transactions and exchanges using high security there isn't any risk of theft. But more importantly it's how we study the price graph's ups and downs that determines our fate.

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July 24, 2019, 10:51:16 AM
 #60

The risk in cryptocurrency is more with scam project and shitcoins than with bitcoin and some big projects. We might have to go beyond what we read on whitepapers, social media updates and telegram to getting some inside information with recent new project, the scammers are smarter and some teams are not capable for the project they want to embark on. The present market condition will only help to strangle enormous shitcoins in the market and send them off. It is sad that we have over 3000 projects, many that have no demand-able use case and sharing in the marketcap.

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