Reasons why you should NOT trade cryptocurrencies

Adribaasmet posted:
I think, investing on crypto with a long term view (like couple of years) would be much profitable than trading!

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.

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

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.

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

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

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.

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. 😄

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.

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.

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

BluePanther posted:
'Left holding the bag':
https://en.m.wikipedia.org/wiki/Bagholder

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

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

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.