Pages:
Author

Topic: BEEN IN THIS GAME FOR 6 YEARS - page 5. (Read 2501 times)

legendary
Activity: 3430
Merit: 1280
English ⬄ Russian Translation Services
November 20, 2019, 10:37:50 AM
We are moving towards an era of digital currencies and bitcoin will dominate all assets.

That's probably what's going to happen. But we forget that Bitcoin shouldn't be an asset, tho it's inevitable now. Bitcoin should just function like Fiat Money. Their main difference should only be Decentralization. As that's what Bitcoin should be solving from Fiat Money (centralized currency). But instead, it became more of an investment, an "asset" just like stocks and real estates and whatnot

And there is a good, sound reason for that

If you are unfamiliar with Gresham's law, you should be by now. In terms of this famous law, Bitcoin is good money being driven out of circulation by bad money, which is fiat in the context of this law. To put it differently, Bitcoin can only crowd out fiat or compete with it if it becomes worse than fiat but in that very case it is unlikely anyone will be using it either as an asset or as a currency. Isn't it a lovely paradox that we have discovered here?
legendary
Activity: 3640
Merit: 1407
November 20, 2019, 10:17:27 AM
....

I would tell family and friends and got  a response like I will wait till it comes down.  If those people listened 1 year later would have profited well. Now I tell friends  .1 BTC  I  think for many that is attainable, now the response is did bitcoin not crash. My point is that I think if we educate fundamentals which is tough we might win some hearts.

Just to share my personal experience, I entered the cryptocurrency world back in 2017 where the price of each bitcoin were around $4,000-$4,500 fluctuating. I used to participate in campaign signatures that for a Jr. member, the payouts were like 0.004 BTCs/week (around $5 before converted). Many people have been speculating that the price may skyrocket within the year.

Around 2018 when the price of BTCs reached an all-time high of around $19,000, people assumed that its price would continue to increase and they started purchasing more for long-term investments. Unfortunately after a few weeks, its price dropped considerably and the people who JUST STARTED investing into BTCs branded it as a whole "bubble" and "scam" scheme.



The same thing that people said at the end of 2013 run up to $1k, and subsequent 2 year drop into 2015.  Bitcoin is volatile and people will get burned because people are comfortable buying at the top when everything looks great.  Those people will be weeded out eventually another round like this will happen over and over until crypto has plateaued and the general public are all involved.  Volatility is not for the weak hearted.
hero member
Activity: 2212
Merit: 786
November 20, 2019, 10:08:09 AM
....

I would tell family and friends and got  a response like I will wait till it comes down.  If those people listened 1 year later would have profited well. Now I tell friends  .1 BTC  I  think for many that is attainable, now the response is did bitcoin not crash. My point is that I think if we educate fundamentals which is tough we might win some hearts.

Just to share my personal experience, I entered the cryptocurrency world back in 2017 where the price of each bitcoin were around $4,000-$4,500 fluctuating. I used to participate in campaign signatures that for a Jr. member, the payouts were like 0.004 BTCs/week (around $5 before converted). Many people have been speculating that the price may skyrocket within the year.

Around 2018 when the price of BTCs reached an all-time high of around $19,000, people assumed that its price would continue to increase and they started purchasing more for long-term investments. Unfortunately after a few weeks, its price dropped considerably and the people who JUST STARTED investing into BTCs branded it as a whole "bubble" and "scam" scheme.

sr. member
Activity: 1330
Merit: 291
November 20, 2019, 08:44:46 AM
The major problem is that, it is very difficult for one to believe someone else prediction of the market particularly when you are new to crypto currency. Am saying this because it was almost the same prediction that was made as regards what the market value of ethereum will be that made some of us to buy ethereum at the peack of $1,300 till today but the market is still against our position till date.
legendary
Activity: 3640
Merit: 1407
November 19, 2019, 06:50:13 PM
Lot of people are making price predictions and many years ago I did as well.However, I stopped thinking in fiat and only thought about stacking stats. In the end we are part of a financial revolution much like Tesla in cars- uber in taxis.The financial market is in a recession when you have bankers, government official telling you we are doing great it's to cover up the truth.

I told some friends in 12/2015 that btc in few years will be 10 k . I am no market analyst I just based it on scarcity. Those same friends bought in 2017 and called me thinking I knew what the next target is and I told them shit, I got lucky I have no idea. Four years later  and now I am thinking scarcity again and 95k in a few years is my next prediction because why not we all love a number to gravitate to.

In 2016 saw a youtube video, and in there was a Chinese mining operator that did not speak english well  but would say just buy 1 BTC and many people laughed at him dunno if it was because of his accent or because he was a miner  promoting BTC. I thought about that back than and realized that 1 btc is attainable at 500 usd.

I would tell family and friends and got  a response like I will wait till it comes down.  If those people listened 1 year later would have profited well. Now I tell friends  .1 BTC  I  think for many that is attainable, now the response is did bitcoin not crash. My point is that I think if we educate fundamentals which is tough we might win some hearts.

I agree there is thread after thread of peoe making fiat predictions of where bitcoin will go.  I mean just by math someone has to be right if every angle is predicted.  It doesnt necessarily mean that person knows what the hell they are talking about now it just means they were the lucky ones that were right.  Just keep stacking sats and let the rest work itself out.
legendary
Activity: 1610
Merit: 1003
November 19, 2019, 06:19:40 PM
actually, people will have same problem, like when you tell someone to put effort in bitcoin, invest in bitcoin before the price exploding, they are not interest what we said. and when bitcoin price is going to moon, people that dont interest in bitcoin will ask how to get it to us. and it hapoen to me, im really bored to make deal with them. and when they ask me, ill just ignore them. im just talk this with my friend that interest in bitcoin at first we are talked
hero member
Activity: 1302
Merit: 532
November 18, 2019, 06:52:29 PM
I work online for a company (a remote job) and they pay their workers with bitcoin. Some people just use it to receive their payment and once it comes into their wallet they will sell/withdraw it to their bank account.
What kind of work you are doing and if you are willing to share i would like to know and i would not mind to work if they will pay in bitcoin. I do not have that much experience like everyone as it was not that easy to understand the market at first and since i was investing in stocks for a long time and i wanted to learn about the new market and five years went by in this market and luckily i was able to invest when the price was low.
legendary
Activity: 2100
Merit: 1058
November 18, 2019, 04:13:38 PM
Holding bitcoin for long or at least until next pump is right decision. It wont harm the investors. Waiting is the working method here. The amount of profits that can be gained from bitcoin depend on the duration of time for which a holder keeps it in pockets. If someone consider this choice a risky one, they have the option to learn about bitcoin and then make decisions to the best of their knowledge.
There is nothing bad about holding for those who want to have it as an asset and we know that asset is meant to grow, but there are other important roles too that we need to play if we really want what we are holding to really continue to appreciate naturally and not all these increase that we are seeing through all these manipulation.

The best way that our asset in bitcoin can really grow is if we are also using it as payment and not just holding it, we could have a portfolio where we have some of the coins for investment, but it is necessary that we also have another portfolio that we can be using to make payment through the bitcoin system because that is the best way to actually expand the network of bitcoin that will be responsible for demand of the coin.
sr. member
Activity: 532
Merit: 284
November 17, 2019, 08:06:52 AM
We are moving towards an era of digital currencies and bitcoin will dominate all assets.

That's probably what's going to happen. But we forget that Bitcoin shouldn't be an asset, tho it's inevitable now. Bitcoin should just function like Fiat Money. Their main difference should only be Decentralization. As that's what Bitcoin should be solving from Fiat Money (centralized currency). But instead, it became more of an investment, an "asset" just like stocks and real estates and whatnot.
hero member
Activity: 1946
Merit: 540
Leading Crypto Sports Betting & Casino Platform
November 17, 2019, 07:26:06 AM
That was what exactly happened with bitcoin in late 2017 and 2018 after the bitcoin started getting high lot of people just brought it as a method of getting rich quickly. Lots of people buy over 10k$ just trusting the hype that it would go 50k$. But as it drops maximum of such people did the panic sell. Though it may not be the only cause of BTC price drop that time but it was a major cause.
It is always the same story even if the details change slightly, this happened with the tulip mania on 1637, the dot com bubble, the real estate bubble and it happened to bitcoin and cryptocurrencies in general in 2017, people are always looking for an easy way to make money and when they see an asset going up then they want to get some of the profits as well, for those that are smart that is the moment to get out of the market since the bubble cannot last that much longer, then the price crashes and any dreams of getting rich quickly gets crushed.
I do not have much idea about dot com bubble or real estate bubble or this thing, tulip mania in 1637, as I was not present at that time and cannot comment with certainty. But in case of bitcoin, everyone has witnessed it making progress for last ten years. It is not a bubble at all. No bubble can be this powerful. Even after being lashed by countries like China and America, it stayed with us. We are moving towards an era of digital currencies and bitcoin will dominate all assets.
newbie
Activity: 11
Merit: 0
November 17, 2019, 07:13:17 AM
You are privileged to have invested in bitcoin when the price wasn't exorbitant for you. I still want to encourage anyone that has the fund to purchase at least 1btc to do so. But let it be a long term investment plan
legendary
Activity: 3430
Merit: 1280
English ⬄ Russian Translation Services
November 17, 2019, 06:13:01 AM
The same thing (or shit if you like) will happen time and again. It is just in human nature to "hope for something out of nothing". There is a special word in Russian to describe just that - "xaлявa", which can't be properly translated into English without losing the whole meaning it conveys, especially the strong negative connotation it has (the English rendering "freebie" doesn't cut it at all since it lacks this extremely contemptuous undertone). So most, if not all, people have it in them, and unless they are aware of it and can control it consciously, the process is bound to repeat itself over and over again. But that's an opportunity for us if we are able to ride it and profit from it
At the end of the day where they realized things far from the expectation, they can't afford to lose more ...

They would start crying like ' bitcoin is a biggest scam!' ' I lost thousands dollar in it within a month! ' and bla bla bla... a never ending frustrated stories caused by careless uneducated newcomers , that kind people are lack of responsibility and greedy at once, a perfect formula to make a mess with your life

But here's the catch (another one, as there are many)

If they were just a little bit more patient, and had simply waited out the bad times they wouldn't be crying out loud. I mean Bitcoin went exponential to 20k in a matter of a few months, then crashed to 3k (here comes the "bitcoin is a biggest scam" part), in a short while resurrected and surged back to almost 14k

The point is, it was first greed that forced people to enter the fray at the wrong time, and then it was fear that made them leave the game at wrong time again. And what do we get from this? Correct, that there is no right time for the wrong people. So it is greed and fear as the two sides of the same coin that always come and go together
sr. member
Activity: 1946
Merit: 322
November 17, 2019, 01:52:20 AM
Imagine thinking in stats and suddenly the price crashes to a very low rate, I'm very sure that you wouldn't be happy with yourself because you will regret saving up and not selling when the price was about to crash.

I am not saying that you're wrong, but everyone has their own purpose for buying Bitcoin, in guessing maybe you just like it and that's why you're storing up numbers. There are people who are just interested in it as a method of transaction because it is cheap and fast and there are no restrictions, you can send to anyone in the world and pay the same fees and at the same speed rate which is faster than using banks. Then there are also people who are interested because it can be an investment and would yield a profit when they invest or trade it.

I work online for a company (a remote job) and they pay their workers with bitcoin. Some people just use it to receive their payment and once it comes into their wallet they will sell/withdraw it to their bank account.
legendary
Activity: 2674
Merit: 1048
November 16, 2019, 02:02:27 PM
Everyone is wise after the event

But in 2017 there were enough people even here, on the forum, who had been fooled and dizzied by the exponential rise of Bitcoin's price. Actually, most of the forum went off their rocker back in the day. It was no use trying to explain to all these people that the crash was sort of inevitable as they were extremely aggressive toward anyone who had been ever so slightly cautious and suspicious about so insane a rise. You would read things like "millions of dollars sitting in the orderbooks waiting to buy Bitcoin if there is a small correction". These dollars then quickly disappeared provided they had been there at all
People still expecting fortune from bitcoin volatility, they are waiting for the price to skyrocketing reaching the limits without knowing there's a bubble potential to burst ... indeed very classic , it's won't end well for them who has this simply dangerous  thoughts

People will always be expecting that

The same thing (or shit if you like) will happen time and again. It is just in human nature to "hope for something out of nothing". There is a special word in Russian to describe just that - "xaлявa", which can't be properly translated into English without losing the whole meaning it conveys, especially the strong negative connotation it has (the English rendering "freebie" doesn't cut it at all since it lacks this extremely contemptuous undertone). So most, if not all, people have it in them, and unless they are aware of it and can control it consciously, the process is bound to repeat itself over and over again. But that's an opportunity for us if we are able to ride it and profit from it
At the end of the day where they realized things far from the expectation, they can't afford to lose more ...

They would start crying like ' bitcoin is a biggest scam!' ' I lost thousands dollar in it within a month! ' and bla bla bla... a never ending frustrated stories caused by careless uneducated newcomers , that kind people are lack of responsibility and greedy at once, a perfect formula to make a mess with your life.
Bitcoin is high risk investment, people shouldn't put the money that they can afford to lose , it hurts to losing them I've experienced it.
hero member
Activity: 2884
Merit: 794
I am terrible at Fantasy Football!!!
November 16, 2019, 01:09:51 PM
That was what exactly happened with bitcoin in late 2017 and 2018 after the bitcoin started getting high lot of people just brought it as a method of getting rich quickly. Lots of people buy over 10k$ just trusting the hype that it would go 50k$. But as it drops maximum of such people did the panic sell. Though it may not be the only cause of BTC price drop that time but it was a major cause.
It is always the same story even if the details change slightly, this happened with the tulip mania on 1637, the dot com bubble, the real estate bubble and it happened to bitcoin and cryptocurrencies in general in 2017, people are always looking for an easy way to make money and when they see an asset going up then they want to get some of the profits as well, for those that are smart that is the moment to get out of the market since the bubble cannot last that much longer, then the price crashes and any dreams of getting rich quickly gets crushed.
hero member
Activity: 2044
Merit: 501
★Bitvest.io★ Play Plinko or Invest!
November 16, 2019, 12:50:10 PM
I would tell family and friends and got  a response like I will wait till it comes down.  If those people listened 1 year later would have profited well. Now I tell friends  .1 BTC  I  think for many that is attainable, now the response is did bitcoin not crash. My point is that I think if we educate fundamentals which is tough we might win some hearts.

I cannot blame them if they prefer to wait because experts and old traders are also doing that , to teach therm fundamentals you should know  thoroughly, everything about Bitcoin so you can explain to them better the fundamentals and the many benefits of Cryptocurrency.

A choice that you cannot challenge or deny for every human being who has thought the right strategy going forward. This will be a decisive step for you to produce something good or bad.
Holding bitcoin for long or at least until next pump is right decision. It wont harm the investors. Waiting is the working method here. The amount of profits that can be gained from bitcoin depend on the duration of time for which a holder keeps it in pockets. If someone consider this choice a risky one, they have the option to learn about bitcoin and then make decisions to the best of their knowledge.

I also believe in that because bitcoin was the future investment where you can do a long term investment without losing profit when it comes to year by year but if you want a fast money but a higher risk then do trading or other investment that can give you more income.
sr. member
Activity: 887
Merit: 253
November 16, 2019, 09:23:05 AM
I would tell family and friends and got  a response like I will wait till it comes down.  If those people listened 1 year later would have profited well. Now I tell friends  .1 BTC  I  think for many that is attainable, now the response is did bitcoin not crash. My point is that I think if we educate fundamentals which is tough we might win some hearts.

I cannot blame them if they prefer to wait because experts and old traders are also doing that , to teach therm fundamentals you should know  thoroughly, everything about Bitcoin so you can explain to them better the fundamentals and the many benefits of Cryptocurrency.

A choice that you cannot challenge or deny for every human being who has thought the right strategy going forward. This will be a decisive step for you to produce something good or bad.
Holding bitcoin for long or at least until next pump is right decision. It wont harm the investors. Waiting is the working method here. The amount of profits that can be gained from bitcoin depend on the duration of time for which a holder keeps it in pockets. If someone consider this choice a risky one, they have the option to learn about bitcoin and then make decisions to the best of their knowledge.
legendary
Activity: 2352
Merit: 1101
November 16, 2019, 08:51:54 AM
They think that the bitcoin would increase an unstapable of increasing but they did not know that if it reach into high value of money, there are a lot of people who sell their coin as their profit and it cause of the price go down in year 2018 and until now we can't see its growing value like before.
I think that many of us made the mistake at this period because we were quite still new to bitcoin bull run, which I want to believe that was the first time such thing will happen and the first time that many of us will be exposed to it, so a lot of us really fell victim of fomo then to some of these market players, but it is the result of the seed that they planted then that they are reaping now, which is why we are finding it difficult to see the market pump hard again.

Anytime that these market players pump the coin, they hardly do get response of FOMO from people that will make them gain some profit, but they usually loose because when they pump, there are other existing investors who will see it as opportunity to remove their profit rather than buying again. This price we are seeing now is the real price of bitcoin and that is how it will be growing steadily until it reaches a peak.
legendary
Activity: 3430
Merit: 1280
English ⬄ Russian Translation Services
November 15, 2019, 07:20:34 AM
Everyone is wise after the event

But in 2017 there were enough people even here, on the forum, who had been fooled and dizzied by the exponential rise of Bitcoin's price. Actually, most of the forum went off their rocker back in the day. It was no use trying to explain to all these people that the crash was sort of inevitable as they were extremely aggressive toward anyone who had been ever so slightly cautious and suspicious about so insane a rise. You would read things like "millions of dollars sitting in the orderbooks waiting to buy Bitcoin if there is a small correction". These dollars then quickly disappeared provided they had been there at all
People still expecting fortune from bitcoin volatility, they are waiting for the price to skyrocketing reaching the limits without knowing there's a bubble potential to burst ... indeed very classic , it's won't end well for them who has this simply dangerous  thoughts

People will always be expecting that

The same thing (or shit if you like) will happen time and again. It is just in human nature to "hope for something out of nothing". There is a special word in Russian to describe just that - "xaлявa", which can't be properly translated into English without losing the whole meaning it conveys, especially the strong negative connotation it has (the English rendering "freebie" doesn't cut it at all since it lacks this extremely contemptuous undertone). So most, if not all, people have it in them, and unless they are aware of it and can control it consciously, the process is bound to repeat itself over and over again. But that's an opportunity for us if we are able to ride it and profit from it
sr. member
Activity: 887
Merit: 253
November 15, 2019, 06:06:31 AM
I regret entering the market so late as i entered few years back only when prices were high and last bull run of 2017 hit the market taking the prices to $20k which no one could expect from btc.This is the power of cryptocurrencies like btc that they have potential to change the digital world by shifting momemtum from fiat to digital coins based on blockchain technology.The prices will soon reach ATH and we all will be happy to be part of financial revolution.
I can understand that but still, cheer up because you are earlier than many others. We cannot do anything about the past and best is to focus on present and future. I usually used to say that every time is right time to join the party. Now that you have started your journey, just make it a good one for yourself. There is no denial in the power of bitcoin and I hope you have invested in this coin for bright future.
Pages:
Jump to: