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Reasons why you should NOT trade cryptocurrencies

davidwatson
Oct 23 2018 at 11:06
16 ieraksti
Adribaasmet posted:
I think, investing on crypto with a long term view (like couple of years) would be much profitable than trading!

I'm with you on this.
vontogr (togr)
Oct 23 2018 at 11:25
4862 ieraksti
davidwatson posted:
Adribaasmet posted:
I think, investing on crypto with a long term view (like couple of years) would be much profitable than trading!

I'm with you on this.

Well it should be
Crypto is down a lot know but in nearby years it should change
Matt (BluePanther)
Oct 24 2018 at 06:19
1356 ieraksti
RichPort posted:
I theory that makes sense but crypto is not a mature market. It is stull developing. It could be banned or regulated or there could be some huge theft of funds that drives away investors. These things could all mean that crypto like Bitcoin could go from $6000 to $0

I quite agree.

tradeFX4btc posted:
I don't see any issue with trading crypto currencies that have a fixed supply. It's better long term(store of value) than holding fiat that slowly inflates.

'Fixed' supply you say? I do not agree: supply can be manipulated as easily as IP addresses were increased from IPV4 to IPV6 (source: https://en.wikipedia.org/wiki/IP_address).

Anything in a computer can be manipulated. Only physical assets (eg. gold, silver) cannot be.
Matt (BluePanther)
Oct 24 2018 at 10:21
1356 ieraksti
86% of 2017 ICOs are now in the red, Ernst & Young study finds (22 Oct, 2018)
https://www.marketwatch.com/story/86-of-2017-icos-are-now-in-the-red-ernst-young-study-finds-2018-10-20

ICO swindlers have absconded with some $100 million in investor dough, research firm says (15 Aug, 2018)
https://www.marketwatch.com/story/ico-swindlers-have-absconded-with-some-100-million-in-investor-dough-research-firm-says-2018-08-15

SEC fines, bars alleged fraudulent ICO promoter (14 Aug, 2018)
https://www.marketwatch.com/story/sec-fines-bars-alleged-fraudulent-ico-promoter-2018-08-14

The SEC created a fake ICO website to show just how easy it is to scam investors (16 May, 2018)
https://www.marketwatch.com/story/the-sec-created-a-mock-ico-website-to-show-just-how-easy-it-is-for-investors-to-get-fleeced-2018-05-16

Some of investors’ worst fraud concerns around ICOs backed by Penn study (6 Aug, 2018)
https://www.marketwatch.com/story/some-of-investors-worst-fraud-concerns-around-icos-backed-by-penn-study-2018-08-06
yellowman94
Oct 24 2018 at 14:29
41 ieraksti
togr posted:
davidwatson posted:
Adribaasmet posted:
I think, investing on crypto with a long term view (like couple of years) would be much profitable than trading!

I'm with you on this.

Well it should be
Crypto is down a lot know but in nearby years it should change
who knows what will happen in nearby years. i think crypto's will again make a great jump.
jamesgwyther
Oct 25 2018 at 14:18
289 ieraksti
Trade it up and down is the best way ;)
Fannel (Faneel)
Nov 06 2018 at 11:14
11 ieraksti
yellowman94 posted:
togr posted:
davidwatson posted:
Adribaasmet posted:
I think, investing on crypto with a long term view (like couple of years) would be much profitable than trading!

I'm with you on this.

Well it should be
Crypto is down a lot know but in nearby years it should change
who knows what will happen in nearby years. i think crypto's will again make a great jump.

I would have forgotten about cryptocurrencies. They have already reached their peak. It is time to return to trading with conventional currencies. 😄
Adribaasmet
Nov 20 2018 at 07:58
994 ieraksti
Faneel posted:
yellowman94 posted:
togr posted:
davidwatson posted:
Adribaasmet posted:
I think, investing on crypto with a long term view (like couple of years) would be much profitable than trading!

I'm with you on this.

Well it should be
Crypto is down a lot know but in nearby years it should change
who knows what will happen in nearby years. i think crypto's will again make a great jump.

I would have forgotten about cryptocurrencies. They have already reached their peak. It is time to return to trading with conventional currencies. 😄

Actually, trading with the major FX currency is the best practice! But, I like invest my money on Crypto instead of trading.
vontogr (togr)
Nov 20 2018 at 08:57
4862 ieraksti
When the BTC price was stable around 6,500 there was not much to trade.
Nowadays market are crazy, just check XRP - new favourite for investors.
may overcome BTC one day.
Matt (BluePanther)
Nov 20 2018 at 15:24
1356 ieraksti
AmDiab
Nov 21 2018 at 07:32
718 ieraksti
togr posted:
When the BTC price was stable around 6,500 there was not much to trade.
Nowadays market are crazy, just check XRP - new favourite for investors.
may overcome BTC one day.

I see, now the price is only 4.5K! Really horrible! Don’t know where is the bottom-line.
Matt (BluePanther)
Nov 21 2018 at 08:11
1356 ieraksti
BluePanther posted:
RichPort posted:
I theory that makes sense but crypto is not a mature market. It is stull developing. It could be banned or regulated or there could be some huge theft of funds that drives away investors. These things could all mean that crypto like Bitcoin could go from $6000 to $0

I quite agree.

tradeFX4btc posted:
I don't see any issue with trading crypto currencies that have a fixed supply. It's better long term(store of value) than holding fiat that slowly inflates.

'Fixed' supply you say? I do not agree: supply can be manipulated as easily as IP addresses were increased from IPV4 to IPV6 (source: https://en.wikipedia.org/wiki/IP_address).

Anything in a computer can be manipulated. Only physical assets (eg. gold, silver) cannot be.

Time is proving these points correct.
Matt (BluePanther)
Nov 21 2018 at 08:13
1356 ieraksti
Faneel posted:
I would have forgotten about cryptocurrencies. They have already reached their peak. It is time to return to trading with conventional currencies. 😄

I never bought into the crypto hype. As they say, 'if it sounds too good to be true, it ptobably is.'

As with any ponzi scheme (BitCoin, ICO, or HYIP) the gains are only good in the beginning - but take your money and run before you get 'left holding the bag'.
Matt (BluePanther)
Nov 21 2018 at 08:14
1356 ieraksti
vontogr (togr)
Nov 21 2018 at 08:36
4862 ieraksti
BluePanther posted:
'Left holding the bag':
https://en.m.wikipedia.org/wiki/Bagholder

Well BTC is still 4 times the value compared to MAR 2017
Matt (BluePanther)
Nov 21 2018 at 12:05
1356 ieraksti
togr posted:
BluePanther posted:
'Left holding the bag':
https://en.m.wikipedia.org/wiki/Bagholder

Well BTC is still 4 times the value compared to MAR 2017

And your point is?
Farhan1
Nov 21 2018 at 12:07
10 ieraksti
Could be a good buy low - sell high opportunity. There is still a lot of hype around crypto. If buyers start coming in around 4000k thinking that it is a cheap time to buy then the price could sky rocket again
Matt (BluePanther)
Nov 21 2018 at 12:10
1356 ieraksti
togr posted:
BluePanther posted:
'Left holding the bag':
https://en.m.wikipedia.org/wiki/Bagholder

Well BTC is still 4 times the value compared to MAR 2017

Did you buy in at MAR 2017? If so, you still have time. Take my advice before you get 'left holding the bag'.
Your choice though.
Matt (BluePanther)
Nov 21 2018 at 12:24
1356 ieraksti
togr posted:
davidwatson posted:
Adribaasmet posted:
I think, investing on crypto with a long term view (like couple of years) would be much profitable than trading!

I'm with you on this.

Well it should be
Crypto is down a lot know but in nearby years it should change

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

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.

Please refrain from pure conjecture, or opinions without supporting evidence.
This thread aims to gather evidence supporting reasons why one should NOT trade cryptocurrencies.
yellowman94
Nov 21 2018 at 12:30
41 ieraksti
togr posted:
BluePanther posted:
'Left holding the bag':
https://en.m.wikipedia.org/wiki/Bagholder

Well BTC is still 4 times the value compared to MAR 2017
it is, but the way it is falling, i can't say if it is going to rise again soon. it is going to take a long fall before rising again and that might be end to next year. just my thoughts.
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