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Reasons why you should NOT trade cryptocurrencies
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BluePanther

Member Since Jan 25, 2010  887 posts Matt (BluePanther) Dec 15 2017 at 19:13 (edited Dec 15 2017 at 19:38 )
This thread is in response to Leo23's discussion: 'Trading the cryptocurrencies Bitcoin,Etherium, Litecoin etc....'
https://www.myfxbook.com/community/general/trading-cryptocurrencies-bitcoinetherium-litecoin-etc/1513362,1

I am blocked and unable to post in his thread, but I would like to share some important information related to cryptocurrencies that all investors/traders should be made aware of prior to their foray into this new market.

My only questions are:
- Is this another case of Tulip-mania?
- Does Leo23 have a vested interest in garnering support for investment interest in cryptocurrencies?

Here is an important article I think the community should read to get a better understanding of recent growth in cryptocurrency demand (specifically BTC):

https://protradingresearch.com/2017/12/14/one-bank-believes-it-found-the-identity-of-who-is-propping-up-the-bitcoin-market/

Sharing (information) is caring. cool Feel welcome to share your personal and professional opinion on cryptocurrencys, especially if Leo23 has blocked you from his thread. Please backup all opinions with evidence where possible. Unfounded opinions, posts contrary to generally-accepted social norms of respect, and posts in breach of myfxbook's Terms of Use are deemed inappropriate and may be reported.

Full disclosure: I have invested $0 in cryptocurrencies, and have 0 intention to do so any time soon. The phenomenal gains are the only reason it has caught my curiosity. I will continue to trade 'normal' forex only TYVM.

What separates those who go under and those who rise above adversity is the strength of their will and their hunger for power```` 50 Cent (US rapper) [̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅][̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅][̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅][̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅][̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅][̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅][̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅][̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅][̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅][̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅][̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅][̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅] ⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆
BluePanther

Member Since Jan 25, 2010  887 posts Matt (BluePanther) Dec 16 2017 at 16:17 (edited Dec 16 2017 at 16:19 )
Maybe a bit hyped, but here is a marketing email with some truths to it... to your future investment successes.

https://pro.portphillippublishing.com.au/p/taexslaunch/EEXSTCEK/

What separates those who go under and those who rise above adversity is the strength of their will and their hunger for power```` 50 Cent (US rapper) [̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅][̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅][̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅][̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅][̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅][̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅][̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅][̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅][̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅][̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅][̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅][̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅] ⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆
unlimitless

Member Since Mar 18, 2016  6 posts unlimitless Dec 17 2017 at 08:19
Well, I haven't shaped my opinion about crypto trading yet, but the article you mention sounds a fit flimsy to me. According to https://www.ecb.europa.eu/paym/groups/pdf/fxcg/2301/Retail_FX.pdf?8b9766f1bbf56797757c4c2cb391f305 (which seems quite a reputable source to me :) ), the emphasis the article puts on 'the avarage Japanese male retail trader' sounds rather off.

Stevelevy18

Member Since Nov 28, 2017  1 posts Stevelevy18 Dec 17 2017 at 08:22

leo23

Member Since Oct 12, 2016  348 posts leo23 Dec 17 2017 at 08:23
This will be my first and last post in this thread no matter whatever questions you may put in future in this thread. I don't care since I am not interested in argument, but interested in facts based on real life experience of people and not by stupid comments made by other people so called as financial analyst or whatsoever without having a clue as what they are talking about.

Yes, I blocked you because you started promoting your own forex trading system in a general public thread for discussing cryptocurrencies. Also, you were trying to mislead people.

BY THE WAY, YOU WILL CONTINUE TO TRADE FOREX ONLY IF FOREX WILL EXIT AFTER FEW YEARS. THE QUICKER YOU AND OTHERS WILL UNDERSTAND THIS, IT WILL BE BETTER FOR YOU AND OTHERS. THAT'S WHY I CREATED THE OTHER THREAD TO CREATE GENERAL AWARENESS AMONG FOREX TRADERS AT AN EARLY STAGE OF CRYPTOS.

Otherwise, only panic and chaos will be among people when one by one bank will go bankrupt and one by one country will go through financial collapse. In that case, no bank will be there to take your trade and so no forex trading.

Also, I have not invested a cent in cryptos and I don't provide any financial advice to anyone whatsoever and I have repeated this multiple times in my other thread. I use cryptos as compared to banks and that's the way I make cryptos as well by using cryptos and that's how I have cryptos as well. I don't go around selling my house to buy cryptos which some people do though and I will definitely not recommend anyone to invest in cryptos by selling their property or taking such kind of risk.

leo23

Member Since Oct 12, 2016  348 posts leo23 Dec 17 2017 at 08:23
A small correction to my above post :
BY THE WAY, YOU WILL CONTINUE TO TRADE FOREX ONLY IF FOREX WILL EXIST FOR TRADING AFTER FEW YEARS. THE QUICKER YOU AND OTHERS WILL UNDERSTAND THIS, IT WILL BE BETTER FOR YOU AND OTHERS. THAT'S WHY I CREATED THE OTHER THREAD TO CREATE GENERAL AWARENESS AMONG FOREX TRADERS AT AN EARLY STAGE OF CRYPTOS.

WHEN ALL MONEY WILL MOVE FROM FOREX TO CRYPTOS, THEN THERE WILL BE NO SUCH THINGS AS FOREX TRADING. SO WAIT AND WATCH OR TAKE ACTION AND BE PREPARED. CHOICE IS YOURS. WHEN IT WILL HAPPEN EVEN ID DON'T KNOW EXACTLY,BUT WILL HAPPEN FOR SURE AND I CAN SAY THIS TO HAPPEN IN NEXT 3 TO 5 YEARS.


BluePanther

Member Since Jan 25, 2010  887 posts Matt (BluePanther) Dec 18 2017 at 05:07 (edited Dec 18 2017 at 05:37 )
Thank you for your post Leo23.

But to be fair, let me clarify:
1. I do not own any system, only licences to others' systems. I do not own a license to any system I 'promoted' on your thread. In fact, I don't even know if there is any commercial content there to begin with. Do you refer to the video by Alex Du Ploy? He was talking about BitCoin... it is unfortunate you did not appreciate the contribution I made - the information he said.
2. I have no intention to mislead or deceive anyone. I am simply critical of the hype surrounding cryptocurrencies. It is my opinion (formed by what I have read elsewhere) that it is not the cryptocurrencies that is of most value, it is the block chain technology behind them that will revolutionise the world. And investment in those technology companies would be far better.

Best of luck with your investment Leo23 (if you decide to take your optimism further and invest in crypto). cool

PS. You would be wise to pay heed to 'stupid comments made by other people so called as financial analyst or whatsoever without having a clue as what they are talking about.' You demonstrate your total ignorance by making such comments.

What separates those who go under and those who rise above adversity is the strength of their will and their hunger for power```` 50 Cent (US rapper) [̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅][̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅][̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅][̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅][̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅][̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅][̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅][̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅][̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅][̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅][̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅][̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅] ⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆
BluePanther

Member Since Jan 25, 2010  887 posts Matt (BluePanther) Dec 18 2017 at 08:31 (edited Dec 18 2017 at 08:49 )
leo23 posted:
...stupid comments made by other people so called as financial analyst or whatsoever without having a clue as what they are talking about.


Do not assume I have any qualifications or financial experience, like you have assumed I was marketing my system, or like you also assumed I was intending to mislead fellow traders. Of course, I do not buy into the hype of cryptos. IMHO it is the block chain technology behind them that is truly revolutionary - that is aside from the crypto

The information I link to is not my opinion - it comes from those that have studied for many years and have qualifications and experience in the finance industry. I understand the arguments presented in favour of crypto, but generally those arguments come from financially-illiterate people.

I encourage you to 'put your money where your mouth is' and invest. Practise what you preach, or are you a hypocrite also?

What separates those who go under and those who rise above adversity is the strength of their will and their hunger for power```` 50 Cent (US rapper) [̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅][̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅][̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅][̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅][̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅][̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅][̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅][̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅][̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅][̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅][̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅][̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅] ⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆
BluePanther

Member Since Jan 25, 2010  887 posts Matt (BluePanther) Dec 18 2017 at 09:06
leo23 posted:
This will be my first and last post in this thread no matter whatever questions you may put in future in this thread.


Do not worry, I do not block people - and if they make themselves a bigger fool then so be it!

What separates those who go under and those who rise above adversity is the strength of their will and their hunger for power```` 50 Cent (US rapper) [̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅][̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅][̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅][̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅][̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅][̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅][̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅][̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅][̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅][̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅][̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅][̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅] ⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆
BluePanther

Member Since Jan 25, 2010  887 posts Matt (BluePanther) Dec 18 2017 at 09:50
Why Bitcoin is destined to become a niche asset? - ING

https://www.fxstreet.com/news/why-bitcoin-is-destined-to-become-a-niche-asset-ing-201712180921

...and thank you Stevelevy18 and unlimitless for your valuable contributions. cool

What separates those who go under and those who rise above adversity is the strength of their will and their hunger for power```` 50 Cent (US rapper) [̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅][̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅][̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅][̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅][̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅][̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅][̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅][̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅][̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅][̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅][̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅][̲̅$̲̅(̲̅ιοο̲̅)̲̅$̲̅] ⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆⋆
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