Charles-Tim
Legendary
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Activity: 1666
Merit: 5095
Leading Crypto Sports Betting & Casino Platform
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September 30, 2020, 08:31:14 AM |
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It is my pleasure to be interviewed
1. When and why did you become interested in cryptocurrencies? I know about cryptocurrencies in late last year, 2019. Seemed too late but nobody knows what the future holds. I am a university graduate since 2016 but no job and underemployed, the rate of employment in my country is very high and leaving us to be so underemployed and suffering. The first money I earned in my life with ease was bitcoin, that was how bitcoin really helped and attracted me. I was able to participate in some bounties and earn (although we need to be careful of bounties because some can be scam while many can lead to scam), that really encouraged me to even join this forum in March, 2020. And now I am earning from this forum. The fact is, the money I have earned in crypto in less than a year is for more than the money I have earned in fiat for five years. The reason I was interested in cryptocurrencies is because I want to earn money and make life easy for myself. And it is fulfilling.
2. When and why did you buy your first bitcoin? God so helped me to be a fast learner. Cryptocurrencies have much opportunities in ways you can work for it and earn it. All the bitcoin I have today, I did not buy it, I earned it. I prefer the earning part. But, if I am employed today, I am ready to have some of my savings in bitcoin which will be the first time I will be buying bitcoin.
3. How did you get on the forum? It was a long story, but let me make it short. A scammer messaged me on facebook messenger posing as a prostitute, sending me nude pictures, depicting herself to be studying one course (forgotten the course) in University of Mississippi, two days after we met, she told me to send her $200 worth of bitcoin or google play gift card that she wants to use the money to buy tools for her school assignment. I believed it is a scam, and I did not send her anything. With that, I noticed bitcoin can serve as money purpose (I have known bitcoin since 2013 but not knowing it serves money purpose, what a novice). I later browsed about bitcoin and started to know what bitcoin is, and from there, I know about cryptocurrencies in general. I later browsed how to earn bitcoin online. I saw faucets, pay to click sites, trading, hodling and bitcointalk signature campaigns. I tried all, and that got me into this forum.
4.1. What prevents mass adoption of cryptocurrencies? Normally, cryptocurrencies have mass adoption already, but it supposed to have been more adopted if not for certain reasons, the reason are many but I will only talk about the most important ones. They are:
Ignorance Permit me to make use of this scenario, assuming people can have their fiat with them, and they can be able to use the fiat the way they like, send it to families and friends abroad and nearby, make use of it for transaction purposes, having it with them without any thief coming by, and all without any third party. I believe with this, people will not even think of bank which has later become so centralized. But, all these benefits, cryptocurrencies can give. Which means, cryptocurrencies can serve the initial purposes of money.
Let us take bitcoin as an example, you can have your own wallet that nobody can control it but you, having privacy and not depending on any third party. But, people do not know about this, people are ignorant about bitcoin while some are thinking it is a scam, while some are thinking it is a ponzi scheme, while some even do not know that bitcoin has intrinsic value and can be regarded as money. If people can truly really know what bitcoin and legit cryptocurrencies are, there will be more increase in adoption rate of bitcoin and altcoins.
Governmental laws and restrictions Also, governmental rules and regulation are another reasons, countries in the world have not yet legalized cryptocurrencies to be taught in schools, while some countries strictly ban cryptocurrencies. In such countries, some people can still find a way to buy and store cryptocurrencies but the adoption rate in such countries are not as high as in the countries that legalize it. If governments of such countries can legalize cryptocurrencies, the rate of adoption will increase, also, if cryptocurrencies are taught in schools, people will not be ignorant about it and know how important they are as a means of decentralization leading to increase in crypto adoption.
Unemployment, poverty and lack of investment capital Other reasons which I will not go deeper into which are connected to the reasons cryptocurrencies have not been adopted to its fullest are unemployment, poverty and lack of funds. Some people even know about cryptocurrencies but they lack investment capital, this is common in countries that are underdeveloped, and that is why countries that are rich are more investing and trading cryptocurrencies than countries that are less rich or poor.
4.2. How do you think mass advertising of gambling projects has a positive effect on the development of the forum or harms the community? If betting company bring their campaigns here, I do not see anything bad, some members of the forum will benefit from the campaign they offer. I play most of my bets on bet365 before which do not support bitcoin and other cryptocurrencies, but this forum changed that, fiats transaction fee is too high, and there are too much regulation in a way the governments are controlling our funds and restricting us to pay for many international transactions due to inflation and money declination, unlike bitcoin and other cryptocurrencies. With this, many people like me have diverted away from betting with fiats but now betting with bitcoin and other cryptocurrencies which is a way best, many of the companies have campaigns here which helps the forum to moving forward. Although, I bet, but I should still say people should be careful while betting, they should not use the money they can not afford to lose to bet, so that betting will be fun.
4.3. How do you consider whether 2-3 years of experience in cryptocurrency is enough to successfully invest or does an investor need to receive special education? People are different, our assimilation rate are also not the same. I was able to know about what to do and how to successfully invest on some cryptocurrencies like bitcoin, ether, litecoin and dash earlier. I also know how they can be risky and what to do to make to gain from my investment plans. But, there are some people that will still need to be taught about this, while some even need long term experience, but 2-3 years is too long for such experience, at list 3-6 months is okay which I even still consider too long. Checking the prices of this coins technically using charts will really help than waiting too long, in my opinion.
5. What do you think of the current Merit system and signature campaigns? Do they harm the forum? I do not think anyone that did not contribute to an organization should earn from such organization, the merit system has helped us to easily know people that are contributing quality posts to Bitcointalk forum, the quality post is the determinant of the forum quality. Bitcointalk is a quality forum today than what I heard has happened in the past when a single person will have more than 5 accounts. I think it will even be a norm before to have many accounts as it is tempting, but the merit system makes it difficult for a single person to build two accounts. Merit system discourage one person to use two or more accounts to join a signature campaign, merit system makes this hard. I consider the merit system to be a decentralized non-kyc means of solving what kyc is needed for.
About signature campaigns, they are helping the forum very well, it is one of the reasons people are getting to know this forum, if you checked how I know this forum, it was through search engine about how to earn bitcoin, it was the signature campaign that was referred to on this forum, not this forum itself, I so much remembered. So, many people are here to earn but ready to contribute by helping people to know about cryptocurrencies and contributing to knowledge and solving people's questions that are asked on the forum.
Quality post is a prequisite to merit which is a prequisite to joining signature campaign which is a requisite to making more people joining the forum which is a requisite to the wellness of the forum. This is a win to win called positive feedback mechanism which indicate how merit system and signature campaigns play good roles in the progress of this forum.
6. The most useful forum topic? Most helpful users? I can not say a topic is most useful because there are many useful topics, there are some I can not forget like 'how to consolisldate your total inputs' and some technical questions that I might not find answers to if not of the forum. Also, topics about scam, ways to avoid scam is so much useful for me, the forum makes me realize that not all should the government handle, we have our own parts to play to secure ourselves from scammers. About users that I have gained from, they are many, it will be biased to mention some and leave some not mentioned.
7. 3 things you would implement on the forum? I will not say these are implementations, but they are what can make the forum move forward, if I achieve in life, and I have any business I want to advertize, I can bring my campaign here, and also looked for means to make the forum more attractive for people. I will like free giveaways on the forum like contests and likes. We have to attract people to join this forum to let them know about decentralization, how it is important and how to avoid scam which are the main aims of this forum.
8. Do you trade on exchanges or invest in projects? There have been over 90 exchange hacked since 2011, the hacking rates was higher in 2017 till now, even some people do not know the binance exchange was hacked in 2019, there have been many people that have lost money to centralized exchanges which makes trading easy and flexible and mostly used by people. I traded on exchange when I was learning how to trade, day trading was a great loss for me, but I use a very low amount of money, in a way if the exchange I am using is hacked, I will not have nothing to lose than $50. I do not invest on any project, I can lose while many of the project can results to loss, although many people have been lucky, but I am not the type, I like to invest in what I know about like bitcoin. The only thing I am doing now is swing trading (hodling in a range of 2 weeks to 6 months), and I hodl bitcoin as well. I have my seed phrase which means I have my private keys to my bitcoins, rather than using centralized exchanges the are often hacked.
9. Tell a story about your big profit or big loss? This should be a long story but I will make it short, my biggest profits and losses are in gambling, trading (day trading to be specific) and on shady things on exchanges.
There was a time I converted bitcoin into a shitcoin, but all I noticed was that it resulted into a loss for me immediately, instead, I should have used low value coin in price like doge for the conversion or use tether which assumes the worth of $1, but I used bitcoin directly for the trade. I traded $50 but the result after the trade was less than $0.005. It was a big loss for me.
I remember when I fomo, I bought doge at a price of $0.0048 but less than a day, the coin dropped less than $0.0035 and still dropped further.
I included gambling not because I really had losses, actually it was not much, I am disciplined to use the amount I can afford to lose and not think about it, but I have not gained from betting before and it has been what I do not like. Although, my discipline makes it fun for me as well.
The last I can remember for now was when I bought a coin, I invested the coin with 10% daily profit, I was so happy to buy the coin but I later lose a lot. I bought $50 worth of the coin and within 30 days, the coin dumped more than I expected, with the 10% daily profit I have gained, I cashed out $18. Which means I still lost $32.
10. What do you think about the DEFI ecosystem? I have seen DeFi like the 2017 ICO but a little bit different, and it is not surprising that many of the projects that were white listed pulled an exit scam. The CEO of Myetherwallet even says DeFi is too noisy saying many investors have gained while many have lost investment capital in 2020. How about the exit scam that tron legitimized, tron community was blaming just foundation for whitlisting the token that pulled and exit scam pocketing about $2 million in TRX tokens, there have been many DeFi projects that significantly increased in price in just few days but deceased back abruptly, the last I heard of now is a token called 'strong'. As some decreased in price, it can take time for them to rise back, or even maybe not rise back to the price expected by some investors in years, thereby the investors losing. I like to embrace what I have known about, I am not a fan of DeFi, I prefer bitcoin and other strong cryptocurrencies, rather than a projects that seemed more like ICOs in term of making profit or loss.
11. Is your anonymity a vital necessity or precaution? I wish I can be anonymous but truly it is very difficult for me, but I still maintain some privacies which is now my alternative, there are some part of me people really know while there should be some parts they do not have to know.
12. The last cryptocurrency book you read? I read using search engines but not through google search engine that are promoting scam activities by advertising scam ads, I remember when I started knowing about bitcoin, I make use of 99bitcoins and investopedia, but I read a lot more using DuckDuckGo search engine. But, there are times I make use of mastering bitcoin which really helped me especially to truly know what bitcoin wallet actually is and also to know a lot more about bitcoin.
13. Advise 3 cryptocurrencies/tokens for investment in the next 1-2 years? There are over 5000 cryptocurrencies on coinmarketcap, even there are over 7000 on coingecko, there could be over 10000 cryptocurrencies in the world in which some are not yet listed on such sites but only certain exchanges. Most of the coins are subjected to manipulates, pumps and dumps (wolves of wall streets). There are many you will invest today and lose tomorrow, I have only seen top listed coin according to their marketcap to be the best to invest on because the higher the marketcap the lesser will be the manipulations. Bitcoin have been the first always which people can invest on, while I will take ether and litecoin as the second and third respectively.
14. How much will Bitcoin cost at the end of 2020 Nobody knows what the price can be, anything can happen that can let the price to decrease, but if nothing of such happen, let us still expect $15000, I guess. I like the support the price is showing at $10000, which is an strong evidence that it is likely bitcoin price will not drop for now, even if it decreases further below $10000, after the storm will be the calm, the price will still likely increase back above $10000. Imo, at the end of this year, I am expecting bitcoin to be within a range of $10000 to $15000 or to have increase above $15000.
15. P.S. (Optional) I will like to let us be encouraging people about what bitcoin is, how it is decentralized, how it serves the initial purpose of money and how has been great alternative time centralized money. Let us also be educating people around us about scam, what we tell people about scam today and what they know through us can save millions from being scammed.
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