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Trading the cryptocurrencies Bitcoin,Etherium, Litecoin etc....

leo23
Dec 15 2017 at 11:38
566 mensajes
BoneTrader posted:
leo23 posted:
1.Bitcoin and other cryptos have the potential to completely erase and remove the current financial systems like central banks and ultimately it will erase the central governments due to lack of paid tax amount from citizens. So those authoritarian people will try to keep saying bad things about cryptos to keep a control, but they can't control actually.


That's a Bullshit. Neither Bitcoin, nor other crypto-currency has any potential to replace current financial system. If you have some advanced knowledge about either of How Finance works nowadays, or How Blockchain technology works, you would never say that it has potential to replace the Cash.

Current system is based 100% on full identification of the customer. You open an account with any bank, you have to identify yourself. You make a transaction - you again have to identify yourself. And this is done not for the Banks to make tons of money, which they definitely do. It is first of all made to protect you from losing your money.

Now you, and everyone who has some vision of the Crypto Currencies overtaking the world, do you really think that one day all the people who are still very far from technology boom, they will all agree to switch to any CryptoCurrency and take the risk of loosing all of their assets if they don't manage to keep their private keys in secret and at the same time not loosing them? Do you really, really believe this could happen one day? Do you also really believe that the anonymity is a global problem, for the majority of people on this planet? And how about the fact, that the Bitcoin is not that anonymous anymore, because exchanges require full identification, because ISPs can trace your traffic and identify you, because of many other things already happening around. And do you know that this is much worse than what we currently have, because anyone, I repeat - ANYONE, knowing your wallet address can see all of your transactions, at any time?

So, you might call me an idiot, I don't care, but I know for sure that not Bitcoin, or any other Crypto Currency could ever replace the Cash. It's just not going to happen.

First of all, if I don't know about how the financial system, banks and cryptos work, then I would not be interested in cryptos as compared to the current financial system and I would not have posted any comment without a basic understanding of what it is.

Second, cryptos are not going to replace the financial system tomorrow or next week and that's I am sure about it and hence, no one has to be in a hurry. But neither me nor anyone knows when it will happen, but I know this for sure is that when it will happen people who are too far from the latest technologies will have no time in even understanding what it is and will be in a chaos. That is the whole purpose of creating this thread and explaining about cryptos.

The reason for this is because cryptos emerged out of Blockchain technology and every new technology has a tendency to follow exponential growth which may seem nothing at the beginning, but when it will sustain for a sufficient time, then it will grow in an infinite growth in very short time that is what is being shown in Bitcoin and it is still just the beginning. But I call only those people as idiots who don't understand and see the underlying fact that it is natural exponential growth and they keep saying it as bubble. All exponential curves in time scale will appear as bubble, but they are not.

When I said replacing the system and you have many questions, you can get answers how cryptos will replace current financial is like follows:
Did everyone stopped using land phone after the emergence of mobile phone and tablets? No
Did everyone stopped using bullet carts, horse carts after emergence of cars, vehicles, planes, etc? No

People will or may still use banks if actually they will exist in future, but the % of people and % of cases where banks will be used might be so negligible that it is almost like cryptos will only control the whole financial system.

Though there are many reasons for it, but two of the main reasons for the current financial system to collapse is as follows:
1.No fixed supply of currency for a particular country: In the current central banking system there is no fixed supply of currency and the central governments can print money whenever they want to control the entire economy and control the currency value which leads to devaluation of the currency per unit currency.
2. Centralisation of money: Following the point number one, there are a hand full of people who have 80% or more of control of the entire economy of the entire world and they can play around with the economy and the currency value whenever they want as per their personal agendas leaving the common public having no control of their earned money. So whether someone makes 1000 USD per month or 10,000 USD per month income when the currency itself can be controlled, then such figures don't mean anything.

There are many other challenges or reasons which can be solved by the crypto currencies in one shot though it can lead to some other problems for sure. Also, other challenges like scaling problem is there in bitcoin that's why thousands of cryptos arised now.

By the way, after just few years may be 5 to 10 years of time, no one will be going to bank to open an account and transfer funds etc and everything will be done online based on biometric data of individuals and I am not talking about some sci-fi stuff here. There are multiple countries which are collecting and trying to link biometric data to banks which will be ultimately can be linked to cryptos as well. Such technolgies are already existing and will be soon implemented in cryptos.

Artificial General Intelligence
BoneTrader
Dec 17 2017 at 08:18
35 mensajes
I already regret starting this discussion, but whatever... There is no way back now.

leo23 posted:
When I said replacing the system and you have many questions, you can get answers how cryptos will replace current financial is like follows:
Did everyone stopped using land phone after the emergence of mobile phone and tablets? No
Did everyone stopped using bullet carts, horse carts after emergence of cars, vehicles, planes, etc? No


This kind of does not go inline with what you said before:
leo23 posted:
Bitcoin and other cryptos have the potential to completely erase and remove the current financial systems like central banks and ultimately it will erase the central governments due to lack of paid tax amount from citizens.

'Completely erase' was the key phrase that I was replying to. But OK, let's skip this and get back to your last post:

leo23 posted:
People will or may still use banks if actually they will exist in future, but the % of people and % of cases where banks will be used might be so negligible that it is almost like cryptos will only control the whole financial system.


Let me reply in the your style - Did the banks collapse with the Stock Markets joining the game? Did any of the banks collapse when Market introduced Futures, Options, CFDs?

The answer is No. No, they got bigger and stronger with each new technology or Financial Instrument being introduced. So why would you expect that banks would collapse now? As I said, you do not have proper vision of what Bank is, as an Institution.

The Bank is not about cash or money in any Currency. It is about relationship between two persons or entities on each end of the Transaction. It was never about money. It was about Trust. You don't need bank today, you can take Cash and pay for whatever you need. Banks do no oblige you to use Account for that reason. But people don't like cash nowadays, you know why? Because there is no Trust in Cash. You don't want someone to come to your house to pay for your car in Cash. You want to have mediator for that operation, the one who can entrust reliability of the second party. And the second party wants the same - to have trust in the other party.

With Blockchain and any Crypto Currency you have to let the Trust go. Somebody pays you for something, you don't know who they are, how can you guarantee it was the right party paying for the service? Somebody claims they have payed for the Internet, standard price of 50$ for example, how do you check that? You ask for the transaction, they just go to your wallet, grab one of the thousands transactions made for that amount and claim it was theirs, what do you do then?

Of course there is workaround to handle all this, but it is your problem now. And many people (me among them) do not want to take care of all of that, I prefer to pay banks the fee to take care of issues like this.

And when someone says that CryptoCurrencies will take over the world, I will be posting this every time: https://blockchain.info/address/114hvMb8gCQv5GsmpZPEkVTp8xXBrwLJC6 Do you want this to happen to your Direct Debit account?
You can see your money there, you have tons of people that can confirm that it is your money, but there is 0 ways that you can use that money again. How do you like that opportunity?

And one more - Blockchain was said to be cheap compared to Bank fees. So imagine you are selling 5$ cost product, and you have 2 Buyers. One has payed 0.5$ for the Transaction fee, another has payed 1.5$ because his transaction is enormous due to a lot of underlying transactions. So yes, you've been payed 5$ by both customers, but no, you do not have 10$ now. To spend first 5$ you would pay 0.51$, and to spend other 5$ you would have to pay 1.51$. Am I right, or am I missing something?

¡ŋ ђθς ş¡ģŋθ ұ¡ŋςəş /
FlavioGonzalez
Dec 17 2017 at 08:27
14 mensajes

Have you heard about TRADER? I have been told that it is a currency that promises. Your face value is accepted internationally, zero transfer commission can send funds from one broker to another without using your bank account, among many other advantages.

leo23
Dec 18 2017 at 07:14
566 mensajes
@BoneTrader
If you get a better argument by playing with words in a sentence, you can't still change the facts.Facts will remain facts. I am sharing ideas here and I don't play with words. So do some through research and try to understand the statements to the core before putting arguments and you don't know anything what you are talking about.

Neither I have taken any responsibility here to educate others about cryptos nor I have some mission to fulfil to give exact answers or to be 100% accurate in everything what I write in each word. Also, I have no such interest to forcefully impart my understanding to others. Every answer to your question is there in the internet, but you may take few months or few years to grasp and there is no shortcut here from me.

I just share some basic facts after thorough understanding and research about everything what I write and providing the information way ahead in time so that it will be helpful for people who have no clue about those things now.

So the only answer I can give to all your questions is to wait and watch everything including the current financial to collapse or do some research and stay prepared ahead in time. I don't have any more time to answer your questions individually.

All my answers are probably getting above your head or you are not reading or probably you use only cash and so you are getting terrified by people talking about vanishing cash. If you are only using cash, then get ready for a situation when your country government will suddenly ban all physical currency notes permanently, then what you will do.

Artificial General Intelligence
leo23
Dec 21 2017 at 07:20
566 mensajes
BTC has given very sharp and sudden movement today due to conversion of Bitcoin to Bitcoin cash and vice versa. There are almost a movement of 4000 USD in one day starting from 18,000 USD to 14,000 USD and back from 14,000 USD to 17,500 USD in one day.

I am waiting for the BTC price to settle down between 500 K USD to 1 Million USD per BTC. But it is not going to happen immediately. So there are many altcoins which will emerge and move along with Bitcoin price increase. So many times large investors move money back and forth from Bitcoin to altcoins and vice versa which is leading to sharp and sudden price movements.

Such movements will increase more and more in future and so small and medium term investors should take precautions while investing in high value cryptos. Total market capital of all cryptos is rapidly increasing to reach towards 1 TRILLION USD. Now, it is around 630 BILLION USD.

Artificial General Intelligence
JacoAF (JacoAF)
Dec 22 2017 at 14:31
130 mensajes
leo23 posted:
AmDiab posted:
Crypto instruments are different from general trading instruments! Till now, many brokers don’t add this trading instrument into their platform! But I really appreciate your effort.

@AmDiab
Please note that cryptocurrency trading is completely different than forex trading. So never try to margin trade or day trade cryptocurrency using a forex broker. The best way to make money from cryptocurrencies in long run is to buy the cryptocurrencies and keep it in a hardware wallet by exchange trading.

Of course, no one has to follow my advice and this is just my personal opinion that cryptocurrency should be traded only in exchange trading mode and not through margin trading due to high volatility and you can easily get stopped out no matter whatever is your stoploss since it varies upto 50% within a matter of few days or weeks.


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I agree with Leo, if you want to trade Bitcoin and other Crypto's then DO NOT trade with a margin account. Your account should effectively have a 1:1 margin.

Just look at at Bitcoin this week. Dropped from $19800 to $10400. These moves are made by big players on the CME. The small traders with margin accounts (e.g. 1:50, 1:100, 1:500) will now be in a world of pain.

Crypto's are NOT for noobs with margin accounts.

Good luck anyway if you are trading these markets.

PS: Just a quick edit to include the following article on Crypto's. Check out the 'Top 10 Crypto-Currency Prices and Market Valuations – December 22.' table. All Crypto's in this table down at lest 25% (ranging between 25-42%). Again, to emphasize Leo's point, DO NOT trade Crypto's with high-leveraged accounts. In my personal opinion (not that I'm an expert on Crypto's - just 8 years of trading experience common sense), approach it with the mindset of longer term investing.

Keep it simple, be disciplined, get rich slowly and above all protect your equity!
mlawson71
Dec 22 2017 at 15:29
1487 mensajes
There has been yet another hack and theft from a cryptocurrency exchange. Youbit, a relatively small South Korean cryptocurrency exchange, announced it was hacked and has lost 17% of its coins, stored in the online hot wallet.( https://www.forexbrokerz.com/news/Korean-crypto-exchange-Youbit-hacked-again-files-for-bankruptcy) This is the second time they get hacked, the first time was back in April. The cryptocurrency exchange is filing for bankruptcy this time.

leo23
Dec 24 2017 at 09:24
566 mensajes
JacoAF posted:
leo23 posted:
AmDiab posted:
Crypto instruments are different from general trading instruments! Till now, many brokers don’t add this trading instrument into their platform! But I really appreciate your effort.

@AmDiab
Please note that cryptocurrency trading is completely different than forex trading. So never try to margin trade or day trade cryptocurrency using a forex broker. The best way to make money from cryptocurrencies in long run is to buy the cryptocurrencies and keep it in a hardware wallet by exchange trading.

Of course, no one has to follow my advice and this is just my personal opinion that cryptocurrency should be traded only in exchange trading mode and not through margin trading due to high volatility and you can easily get stopped out no matter whatever is your stoploss since it varies upto 50% within a matter of few days or weeks.


---------------->

I agree with Leo, if you want to trade Bitcoin and other Crypto's then DO NOT trade with a margin account. Your account should effectively have a 1:1 margin.

Just look at at Bitcoin this week. Dropped from $19800 to $10400. These moves are made by big players on the CME. The small traders with margin accounts (e.g. 1:50, 1:100, 1:500) will now be in a world of pain.

Crypto's are NOT for noobs with margin accounts.

Good luck anyway if you are trading these markets.

PS: Just a quick edit to include the following article on Crypto's. Check out the 'Top 10 Crypto-Currency Prices and Market Valuations – December 22.' table. All Crypto's in this table down at lest 25% (ranging between 25-42%). Again, to emphasize Leo's point, DO NOT trade Crypto's with high-leveraged accounts. In my personal opinion (not that I'm an expert on Crypto's - just 8 years of trading experience common sense), approach it with the mindset of longer term investing.

Yes, you are absolutely correct. That's what I am repeatedly telling to everyone. Never trade any crypto using a margin account, otherwise, today or tomorrow your account will be wiped out. If you want to trade crypto, then buy and hold in a secure hard wallet.

Artificial General Intelligence
leo23
Dec 24 2017 at 09:44
566 mensajes
Cryptocurrencies are now at another key level for massive quick gain within next few months. Especially, Bitcoin seems to gain massively within next few months.

BTC price may quickly jump from 15K to around 30K or more by end of January or February. This rally will continue even at high rate over next months.

By now, it is very much clear that Bitcoin will reach 1 MILLION per BTC..but when is the question!! If it will happen after 5 years or 10 years, then it doesn't make sense for me.

I want BTC to hit 1 MILLION USD per BTC by end of 2018. I know it is a big target compared to the current price and also, compared to market capital, but 1 MILLION per BTC will happen for sure and I want it to happen by end of 2018. How many of you want it to happen by end of 2018??

BTC to hit 100K per BTC by end of 2018 is a very easy prediction and even if everyone don't want to happen still Bitcoin will reach 100K per BTC by end of 2018. But I want it to hit 1 MILLION per BTC by 2018 which seems a big target for now.How many of you want it to happen by end of 2018??

Artificial General Intelligence
leo23
Dec 27 2017 at 07:46
566 mensajes
Few financial market predictions for 2018:
*********************************
We are now almost ready for entering to new year which I will call a year of beginning for a paradigm shift from fiat currency to cryptocurrency. We can expect massive gains as well as very high volatility in almost all cryptocurrencies and devaluation of many fiat currencies.

One year is not sufficient to replace the fiat currency by cryptocurrency, but by end of 2018 most of the people who are now trying to avoid cryptocurrencies may be in panic mode to buy any cryptocurrencies available and they might think it's too late to buy which is not true of course.

Because we have to wait at least 3 to 5 years to replace the entire forex fiat money or bank money by cryptocurrencies. It is going to be the beginning year. It is possible that many countries financial systems like central banking system may collapse and political situations may be chaotic. So most of the people may be in panic to quickly switch to cryptocurrencies from fiat currency.

2018 will show massive opportunity for cryptotraders and unfortunately, the forex traders have to accept the reality that forex trading will be over within next few years. That is the fact of the future and the quicker the people realise this, the better it will be for everyone.

I wish good luck and happy new year to all cryptotraders. An excellent year waiting ahead for cryptos. However, hacking and security issues will continue to rise even more and hence, I suggest all crypto traders to keep their coins safe in hard wallet.

I expect the total market capital to cross at least 20 TRILLION USD by end of 2018. I expect the Bitcoin market capital to reach at least 5 trillion USD by end of 2018 with a price value of around 300K to 500K per BTC. But still I will be optimistic to see 1 MILLION USD per BTC by end of 2018.

Artificial General Intelligence
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