BluePanther posted: Hmm... too many wallet choices, too many coin choices, too many exchange choices... And 'Bitcon' hit over USD$16,000 this week... if it sounds 'too good to be true' it probably is. Just 'buy and hold' and make phenomenal returns?
I 'invested' AUD$120,000 once before on ponzi schemes known as HYIPs... I can see some similarities here: astoundingly high returns 'guaranteed', positive 'peer reviews', sign up on a website, lack of regulation, lack of in-depth information, deposit your monies, wait some time, see website disappear with your money (or hackers steal your money).
'Great investment choice.' (sarcasm) Better learn to trade for a living instead. Capital gains are one-off, unrecurring.
Good luck if you can get out before it collapses (or just don't get-in in the first place).
I agree with you that people need to get out of the crypt before everything gets collapse. But are there any real prerequisites when this can happen? I thought six months ago that everything would burst like a bubble by the new year. But still the crypt feels well.
leo23 posted: This topic I am creating to keep on updating about the latest news of cryptocurrencies who love to trade cryptos rather than forex.
Finally, Bitcoin has crossed a price level of 4000 USD and now at the time of writing this post, the price is around 4300 USD per BTC which is absolutely insane. Just few weeks ago it was below 2000 USD and so it is a 100% gain in few weeks.
We love to trade cryptos because you can simply buy and hold the cryptos in your wallet and there is no question of margin call which generally happens in forex trading if price goes significantly against you. Almost any % gain is possible in cryptos which is absolutely impossible in forex and many people might have been struggling for years to achieve that % gains, but provided you don't day trade in cryptos.
As long as you have invested in some top cryptos there is no chance of price going to zero and hence, just need to hold and you are always safe as long as ONLY you have access to your wallet.
Anyone who loves to trade cryptos can make their views and update latest information about crypto market.
I would like to know why invest in some higher crypts, there is no possibility of going to zero? I do not understand this term very well.
When I say top cryptos I don't mean cryptos in top ten. Any crypto can come and go from the top 10 list purely due to hype.
When I say top cryptos I mean any crypto which has some strong fundamental value behind it's use. Because cryptos are neither assets, nor currencies, nor a technolgy, but it is a output product of a technology which is a combination of currency and asset. which means cryptocurrencies can be used as a currency to exchange value between individual as well as it can be used to store value for future growth similar to an asset.
But the most important thing to look for before investing in any crypto is which purpose it is going to be used and who are the team behind it's development and what's their goal for usage of that crypto and from that perspective you should analyse whether to invest in a crypto or not for long term gain. In those cases, where it has a strong fundamental reason has a very very less chance going to zero. For example Bitcoin is the first cryptocurrency and Etherium is a crypto which is used to create other cryptos or platforms. Similarly you need to look for the reason behind the crypto.
But if a crypto is just developed only for store of value without any significant practical usage, then now or later it may fail. But since it is the beginning of cryptos market almost all cryptos will eventually perform well in long run except the scam cryptos. I mean there are hundreds of cryptos which are just developed easily to create a hype and take out the money from investors and then, run away leaving the crypto as it is .So investors should stay away from those cryptos.
'Bitcoin in my personal opinion is a modern-day version of Bartercard and I wanted to share an interview with you that was conducted by CNN and Jordan Belfort The Wolf of Wall Street. Love him or hate him what he says in this video in my opinion makes absolute sense. It’s the second video down from the top when you get to the CNN web page..
I have never said that Bitcoin doesn’t have the potential to rise in value, but what I will say is that millions of mum and dad investors are going to get incredibly burnt when the Bitcoin bubble bursts. Tulip mania has gripped Bitcoin so buyer beware.'
@BluePanther You are not only trying to spam the thread by providing non-sense and idiotic information and links about cryptocurrecies having no idea about it, but also you have started advertising your own forex trading systems having no value at all. So you must be stopped from any future posts.
It is very much clear that you have neither any idea about cryptos nor you have any idea about forex as well.
I have created this thread to collect and summarise all the valuable information from experienced crypto traders who actually use and trade cryptos. I welcome all crypto traders to share their practical experience like which exchanges they are using and which exchange is providing a good rate, are they getting better rates in their local exchanges or any security issues regarding cryptos etc. So these information will be helpful for other crypto users.
Anyone who is telling anything negative about cryptos is for sure an idiot even if he is some big authoritarian person. Here are some basic reasons why people may say negative things about cryptos:
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. 2.There is another group of people having no idea about cryptos will keep repeating the same things since they are so frustrated that they didn't listen to others long back and now they can't buy Bitcoin or other cryptos. 3.There is another group so called as financial experts they intentionally try to create negative and false news to create a price deep so that they can buy Bitcoin at better price.
So all the Bitcoin and other crypto traders should look out for these 3 things when they are watching any public warnings from some people.
Regarding BTC price as per my previous expectations, BTC has crossed my last target 18K way beyond , but retraced back. Now, it is oscillating around 17K. We have to wait till it crosses 20K and settles above 20K for sometimes.
After it settles more than 20k for sometimes, price can quickly reach to 35K or even 40K within a matter of few weeks or even few days.
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.
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