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):
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.
This will be my first and last post in this thread no matter whatever questions you may put in future in this thread. I don't care since I am not interested in argument, but interested in facts based on real life experience of people and not by stupid comments made by other people so called as financial analyst or whatsoever without having a clue as what they are talking about.
Yes, I blocked you because you started promoting your own forex trading system in a general public thread for discussing cryptocurrencies. Also, you were trying to mislead people.
BY THE WAY, YOU WILL CONTINUE TO TRADE FOREX ONLY IF FOREX WILL EXIT AFTER FEW YEARS. THE QUICKER YOU AND OTHERS WILL UNDERSTAND THIS, IT WILL BE BETTER FOR YOU AND OTHERS. THAT'S WHY I CREATED THE OTHER THREAD TO CREATE GENERAL AWARENESS AMONG FOREX TRADERS AT AN EARLY STAGE OF CRYPTOS.
Otherwise, only panic and chaos will be among people when one by one bank will go bankrupt and one by one country will go through financial collapse. In that case, no bank will be there to take your trade and so no forex trading.
Also, I have not invested a cent in cryptos and I don't provide any financial advice to anyone whatsoever and I have repeated this multiple times in my other thread. I use cryptos as compared to banks and that's the way I make cryptos as well by using cryptos and that's how I have cryptos as well. I don't go around selling my house to buy cryptos which some people do though and I will definitely not recommend anyone to invest in cryptos by selling their property or taking such kind of risk.
A small correction to my above post : BY THE WAY, YOU WILL CONTINUE TO TRADE FOREX ONLY IF FOREX WILL EXIST FOR TRADING AFTER FEW YEARS. THE QUICKER YOU AND OTHERS WILL UNDERSTAND THIS, IT WILL BE BETTER FOR YOU AND OTHERS. THAT'S WHY I CREATED THE OTHER THREAD TO CREATE GENERAL AWARENESS AMONG FOREX TRADERS AT AN EARLY STAGE OF CRYPTOS.
WHEN ALL MONEY WILL MOVE FROM FOREX TO CRYPTOS, THEN THERE WILL BE NO SUCH THINGS AS FOREX TRADING. SO WAIT AND WATCH OR TAKE ACTION AND BE PREPARED. CHOICE IS YOURS. WHEN IT WILL HAPPEN EVEN ID DON'T KNOW EXACTLY,BUT WILL HAPPEN FOR SURE AND I CAN SAY THIS TO HAPPEN IN NEXT 3 TO 5 YEARS.
But to be fair, let me clarify: 1. I do not own any system, only licences to others' systems. I do not own a license to any system I 'promoted' on your thread. In fact, I don't even know if there is any commercial content there to begin with. Do you refer to the video by Alex Du Ploy? He was talking about BitCoin... it is unfortunate you did not appreciate the contribution I made - the information he said. 2. I have no intention to mislead or deceive anyone. I am simply critical of the hype surrounding cryptocurrencies. It is my opinion (formed by what I have read elsewhere) that it is not the cryptocurrencies that is of most value, it is the block chain technology behind them that will revolutionise the world. And investment in those technology companies would be far better.
Best of luck with your investment Leo23 (if you decide to take your optimism further and invest in crypto). 😎
PS. You would be wise to pay heed to 'stupid comments made by other people so called as financial analyst or whatsoever without having a clue as what they are talking about.' You demonstrate your total ignorance by making such comments.
leo23 posted: ...stupid comments made by other people so called as financial analyst or whatsoever without having a clue as what they are talking about.
Do not assume I have any qualifications or financial experience, like you have assumed I was marketing my system, or like you also assumed I was intending to mislead fellow traders. Of course, I do not buy into the hype of cryptos. IMHO it is the block chain technology behind them that is truly revolutionary - that is aside from the crypto
The information I link to is not my opinion - it comes from those that have studied for many years and have qualifications and experience in the finance industry. I understand the arguments presented in favour of crypto, but generally those arguments come from financially-illiterate people.
I encourage you to 'put your money where your mouth is' and invest. Practise what you preach, or are you a hypocrite also?
“Introducing futures contracts in the U.S. was meant to give short-sellers access to the market and improve liquidity, but availability is still fairly restricted,” said Lee Wild, head of equity strategy at Interactive Investor, in a note to clients. “The introduction of bitcoin futures on the Chicago Mercantile Exchange over the weekend may help, but it will take time.”
The ability to place a short bet on bitcoin without having to first borrow the underlying security is one of the appeals of the futures market. Trading volumes on the Cboe have been fairly low, which to some observers isn’t much of a surprise as the initial margin required to get exposure on both Cboe and CME is so big participation is largely dominated by institutional and high net-worth traders.
'We saw it drop 21% from November 8 through November 12.
And bitcoin doesn’t produce anything. Its price is based purely on what other people want to pay for it. And when people aren’t willing to pay that next price hike — and we will finally reach that point — bitcoin’s price will tumble.
At its heart, bitcoin is a speculation. It’s a bet. It’s a chance to risk a sum of money on the belief that something will happen.
You see that? Speculation. Bet. Risk.
Those aren’t words that you’d normally associate with a safe haven investment.'
Some will argue this is support for crypto, but the problem is crypto is not accepted as widely as cash. Perhaps if it became as ubiquitous as cash then crypto would have the same supporting argument - however crypto is nowhere near that yet!