Reasons why you should NOT trade cryptocurrencies

Gabriel99 posted:
If you don’t have an emergency cash fund, you should not invest in cryptocurrency,. Don’t treat cryptocurrencies as an equivalent. While cryptocurrencies may be ‘liquid’ to trade against other cryptocurrency, they are not so liquid in real life. Withdrawing cryptocurrency and exchanging them for fiat always takes longer than you think. It can be an extremely arduous process.

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Crypto is still a very high risk asset. Sure you could make big gains but there could also be losses. I see crypto as a novelty speculation assets. Worth a few % of your account but no more

I do not even understand what is this thread is about honestly. I thought it was about cryptos or something like that and now I see it's completely about something like your opinion and some other person opinion anyway so what gives honestly ?

Thines1 posted:
I do not even understand what is this thread is about honestly. I thought it was about cryptos or something like that and now I see it's completely about something like your opinion and some other person opinion anyway so what gives honestly ?

A valid opinion, but please back up your statements with links to articles or evidence.

As per Opening Post:

BluePanther posted:
...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.

Posted 19:35pm 28/01/2020

Thines1 posted:
I do not even understand what is this thread is about honestly. I thought it was about cryptos or something like that and now I see it's completely about something like your opinion and some other person opinion anyway so what gives honestly ?

This thread intends to balance the overly-optimistic perspectives on Cryptocurrencies as portrayed in other threads (especially Leo23s).

It is important that all aspects (both positive and negative) are considered before making an objective decision to invest. Discussion is fine, except when contrarian perspectives or information is censored. People should be permitted to make up their own minds and not be silenced simply because they speak the truth or hold opposing views.

Thank you for supporting free speech.

In other words, this thread is intended as the forum where those participants that have been censored in Leo23s post, have an opportunity to contribute their contrarian perspectives (with evidence please).

Uncovering the dark side of cryptocurrency | 60 Minutes Australia (posted Dec 28, 2019)



Timestamp: 09:30am 01/02/2020

Bitcoin: Beyond The Bubble - Full Documentary (posted Apr 20, 2018)



Timestamp: 09:53am 01/02/2020

There are some potential game changer advantages of cryptocurrency.
But do not be ignorant of the risks also.

Watch from ~40:00. Be informed.



Timestamp: 16:43pm 01/02/2020

EDIT: Magic Money: The Bitcoin Revolution | Full Documentary (posted Feb 1, 2018)

Myfxbook moderators please include this title in my previous post as I am not able to edit my post.
Thank you.

BluePanther posted:
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. 😎 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.

Bitcoin pumpers forced to admit it’s not digital gold (FEB 26, 2020)
https://dprogram.net/peter-schiff/bitcoin-pumpers-forced-to-admit-its-not-digital-gold

I tested trading BTC but my problem with it is liquidity and the data is not enough.

Cryptocurrencies hard to predict than other assets.

BTC needs to be a long term Buy or a Long term sell, that is it. NO day trading as it too volatile and costs are too high

'I lost all the bitcoin I ever owned', Peter Schiff tells Kitco News (JAN 21, 2020)
https://www.kitco.com/news/2020-01-21/-I-lost-all-the-bitcoin-I-ever-owned-Peter-Schiff-tells-Kitco-News.html

BluePanther posted:
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. 😎 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.

I find crypto way to unpredictable at times

saturdayresearch posted:
BTC needs to be a long term Buy or a Long term sell, that is it. NO day trading as it too volatile and costs are too high

I agree mate it’s a hard grind, I’ve made most money shorting

Cryptocurrencies lose nearly $21 billion in total market cap in Sunday selloff (MAR 9, 2020)
https://www.marketwatch.com/story/cryptocurrencies-lose-nearly-21-billion-in-total-market-cap-in-sunday-selloff-2020-03-09