Topic: Problems in Bitcoin (Read 675 times)

And most traders do not realize that they take the decision to be a loser or a winner the moment they enter the market, if a person decides to trade but he has made no efforts to read any books about trading, money management skills, investments or any other skill that could help him to become a more effective trader then even if he does not know it he has taken the decision of being a loser in this market.

On the other hand if a person reads as many books as possible about the topic, creates a strategy and then he tests that strategy against many markets and he finds out that he can earn money in the markets in the long term then that person has decided to be a winner.

Even last year halving time we didn't see big changes in the market but at the end of the year and starting of the next year shows decent growth in the price chart.
Then if we people worrying about volatility of Bitcoin that is very much positive thing to show Bitcoin in this world anyone can make on it.

Yea, there is, but the halving effect won't take an immediate effect after the halving because it will take years first before we could see such movement of the bull market. I think 2020 will be the same as 2019 less movement and less volatility.

Think that everything in crypto verse is possible so expect the unexpected.

On all sorts of things, we would really need to know things first and be aware on what are the things that can possibly happen onwards.
You might be surprised nor be shocked on first experiences but as days and years passed you will surely able on getting used to it.
The only problem i do see with bitcoin is on having a full adoption yet its decentralized and cant be possibly be accepted yet each country
do have its own jurisdiction.

I totally agree, before investing in cryptocurrency you should have already known that cryptocurrency is a decentralized system and that no one is really controlling it and every systems aren’t perfect it has loop holes or problems but the most important thing is how are you handling it. It may be very frustrating that a lot is spreading fake news, fake volumes that somehow affected the market but it is what it is, whether we like it or not we will be seeing these types of doings in the crypto world you just have to be smart on what you do and what to believe and follow.

There will be a dramatic effect on bitcoin's price after halving that's for sure because it basically cuts the total number of bitcoin supply and reduces the rate so 99% bitcoin's price is going to increase.
What I expect for the next halving is that the price will be going up 10K or flat, probably we'll going to see a quite stable price of bitcoin on that price range.

I think it's impossible to bitcoin price going down after the halving because the supply is more less and the block rate to get bitcoin is smaller even just a half than before. So i think if bitcoin price is already going more than 10k before the halving, it will go even more after the halving.

Yes exactly we should learn trading goals like we should know about timing of bitcoin rise and falls it’s so volatile that’s why keep time in your notice. We must have some kind of experience related to bitcoin like time for holding and trading it. We always should be ready to learn trading and we must spend few hours in making researches about bitcoin.

Yeah, it's all back to each of us, do we have the desire to learn or not? To understand when to buy and sell takes experience to get a strong reason. Not just reasons that are thought out raw, but reasons that are thought rationally.

Yes, indeed. Many people have their predictions and saying that in the next year, the bitcoin price will be better than before, and we will see bitcoin price will also increase to the higher price. But we should be patient because, until today, bitcoin price is not showing to go up to the higher price, and maybe we will need to wait until the end of this year. We wish that before the halving time of bitcoin, the price can increase and reach $10k, and although the price is down after reach that price, it will be back to another higher rate.

Crypto market is just like other conventional businesses. It has some rules and regulations along with tricks and techniques. If you are bagging all those coins which are dumped by others the definitely you cannot blame market for your losses. Similarly if people are cashing out profits while you are waiting for coin to increase more in value but things go otherwise, again the fault is in you. You need to understand the time of buying and selling.

It is the reason why we need to have some knowledge before investing and trading because it's possible that people will take advantage of us since we don't have enough understanding regarding it. Sometimes we are the reason why we are ended up feeling remorse because we are not thinking about the possible result of our actions and actions. I have seen a lot of people who keep on complaining and blaming about how the market goes without even looking at themselves and thinking how it ends up that way.

This is a simple law of trading rather every business. The loss of one person is the profit of others. Trading is not a market owned by anyone. Common traders are making this platform which means there is no external source of money. As you said there are simply two options left then, either you become a loser or winner. You need to study complete market first in order to understand tricks of becoming a winner.

Many of those that want to become traders or investors never really think about the consequences and the nature of the markets, all of them think about the money that they are going to earn not realizing that such amount of money has to come from somewhere and it comes from other traders, and if you come to the market with no knowledge about fundamental analysis or technical analysis then most likely you are going to be one of those that lose their money.

And then when they lose they complain about the manipulations of the market and how unfair it is that some traders have so much money when they should have thought about all of those factors before they became traders and not after they became losers in the market.

risk will vanished if you are equiped with knowledge and confidence   .

you will know if who is telling the truth once you go out and do your own research  . you cant just trust them and go with the flow if you think that something is not right but you have the right to investigate or just quit and try other better platforms   . extra fund or extra savings , is good to set aside so that you will always have a back up fund once btc manage to dump and stucked  .

And that fee if you compare to regular remittance or payment center is very small. Try sending btc money to the other side of the world, and you will incur the same fee as when you transfer it to your local exchange. And check the rates in WU alone, and you will say better transfer it via crypto. You are paying small amount of money to the miners to keep the chain alive. There are of course problems in bitcoin but I guess for me, its benefits overshadowed the said problems.

In my opinion, it is. Plus the point was Bitcoin's function is not as a store of value, it's because of Bitcoin's function that makes it the ideal store of value.

I think the biggest problem in bitcoin right now is that we are going for a HUGE inequality in the number of money everyone has. Why do we hate dollar? Because, people who are rich have so much of it and people who are poor have almost none of it, the wealth inequality is going to a level where people are dying for being poor while others try to make another billion dollars more.

So, bitcoin shouldn't be like that but between the rich whales and exchanges and casinos etc etc they are really going to a level where it is insanely unequal between the rich and the poor and poor keeps on giving their money to rich all the time just to exist in the crypto world.

Everything you do with crypto has a fee and you pay that just to be able to keep surviving here.

I think bitcoin already growing up at this days its showing up to pump up and it's almost perfectly following the prediction of people in 2020 and it should be a nice year to come up.

It's very likely just fud as always. It's not really surprising considering the fact that we're going through a bit of a bear market, which has always lead to all types of fud to pop up left and right. People should ingore it.

Agreed. Common sense is what people here lack. If people had common sense they wouldn't fall for fud or lame ass investment schemes that are obvious scams. Greed and stupidity is what this market is known for.

Fud continues to be a thing because people fall for it. Similarly, scams continue to be a thing because people fall for it. I don't think it will change, ever. If people in stocks don't change, why would people in crypto do? They are more stupid.

Do you even know what harass means? I don't know whats up with Binance since I haven't used that exchange for while, but I am pretty sure they aren't "harassing" anyone or else we all would have heard about it. So you are saying people that they are using those fake information to force (since you said harass which means they are making putting pressure on them) people to buy bitcoin? Nope, I didn't hear anyone complaining yet. If people sees those faux information and falls for it, they are to be blamed first!

There's always a risk in every trading we engaged in. Only trust and confidence is our weapon and we really never know who's telling the truth. Maybe all we can do is just trust in the process and trade what you can afford to loose. It really sounds cliche but its really the reality about it. Of course we always hope for the best outcome in every trade we do. We just be ready for whatever problem bitcoin may lead at least we have some extra fund to continue our living.

Post is long, and after reading it I didn't find anything about problems with bitcoin or in bitcoin, like OP said. People and what people do can be a problem, in some ways, but bitcoin is not responsible for peoples actions.


Great post! Trading is a competition, its you against others, and there's nothing new about it. People can try to make money, but when you are trying to make money there are chances to lose money too, people often forget about that side, and when they lose money they are surprised. They blame everyone and everything around, but they forget they had a choice to try or to stay away.

In fact, if we take into account the manipulations in the cryptocurrency market, then this is completely different, and not freedom of action or freedom of speech.  Many traders really do their best to get good results, but some people still manipulate the market and earn income at the expense of others.  Of course, this is not a matter of legalizing cryptocurrency, because even in the stock market, prosecutors always prosecute those who play against the rules.

I think this is a common problem for traders and it is not related to the law. Perhaps as you think this is an incident involving manipulation but this is called freedom of speech. anyone can speak and say anything as long as no damage to anyone.
so the urging of many sharks to be seen as their strategy and only the sheep will be trapped.

Maybe. But if that is the case then they will get burnt out very soon. A good example would be this rant thread and thus it is very likely.
Properties that bitcoin have making it different from other modes of transaction. I still think many people dont really understand the meaning and importance of these words. They think of everything to be either on one pole vaporware and another pole as get-rich-quick. Those who go with either of these mentalities will fail in future in any attempt at making money.

I wont call anything ideal. It a good store. But nothing can be ideal.

HODL or sell, whatever anyone wishes.

+1
You won't be able to stand here in cryptocurrency if you can't afford to lose. If you be depressed of losing your capital. But if you are courageous to fight, you will never become pliant. Trading is really hard work. If you not tough, you will easily go down. Specially when there are lots of frustration from plan, selecting coins up to execution. Trading requires a strong mind, physical and financial.

If you're not having a strong and courageous stand for cryptocurrency you won't be able to survive in the end. When frustrations comes after, I guess you can't handle the pressures behind the risk. Once you determine the good market, technical analysis is useful in pursuing your motives in trading in order to gain better profit from your holdings.

His/her problem is using Bitcoin for his desire of fiat wealth. Bitcoin should be viewed as something else that, invalidates the government from seizing your property, Bitcoin. Invalidates the government from stopping you in buying whatever you want to but, censorship-resistance. Invalidates the government from reducing the value your money through inflation, immutable capped supply.

Those properties make Bitcoin the ideal store of value.

Buy the dip, and?

We cannot deny that there is always a risk of losing money and ending up as a broke if you will try to make money in cryptocurrency. I believed that not all the time, there is a manipulation in the market. The fluctuation for cryptocurrencies are now mature compare before. You can still make profit by doing a pure clean trade, just make sure that you know how to do technical analysis.

It's a matter of risk.
No one in this world is a genuine. And not all that we see is truth. Exchanges are earning because of traders. Manipulation of the market is always happening. There is no profits if they would not make fake volumes, buy-sell walls, high fees and bot. Yes, everyone is allowed to enter and exit to the market. But once you step in, there is a probability that you will lose.

If OP knows exactly the risk that he facing with he probably knows what he does. He already fooled by fake volumes of a certain exchange. It is actually tempting to see a huge market volume but it can't just simply sneak to it without taking some precautions to know exactly the things behind. Cause if that only with hypes, it absolutely will make him lose in the end.

I think the OP needs to take a short but fruitful break from bitcoin.

They may have had a loss and thus sulking about their choice but as we have seen in the past and present buying low and selling high is the way to make profit from the market. Just look into the price charts 10years back and today. The price rise has been huge if you compare. Not that I expect anybody to hold for such a long period even 3x - 5x price at selling would have been a decent profit.

Trading should be kept to the extent of something that you would enjoy doing, not something that becomes a stressful job.

Trade isn't slavery it's a competition, everyone is free to get involved or not, that's your choice.
Fake volume, buy-sell walls, bots, high fees are the reasons why someone can choose to stay away from trading, no one forces you to do it.
Once again, it's not problems in bitcoin, but problems for traders, they know the risk hence they deal with it.

I don't think it was good to blame others because of your losses. You are accountable for it, you made your own decision that you think is right but sadly it was wrong then blame to a certain person or company because you've listened to them. Just like many say, nobody is forcing us to be in trading and yet, we are the ones is doing this, only we did is not right and suffer the consequences of losing.

Its not someone else fault if a trader can't sleep nor wash his cloths al;l because he is monitoring the market every minute of the day. That trader must be very excited all his life that he couldn't close his eyes are forget to take a bath while waiting for the price to moon.

The fake news has been around even before BTC actually, a lot of Jaime Dimon gave up now and even have their own coins too but before that they spread crazy news.

It is indeed a matter of a good coin and project to invest with, especially with this kind of market which is speculative and volatile where anything can happen expectedly and unexpectedly. Risk is always worth when it aligns the time that is should be harvested. Cryptocurrency as an open industry, what you can really do about the manipulation, price speculation etc. is to influence more. You can't just tell people do this, and do that, work your ass off and show them. Be hard to gain hard as they said.

Having a good profit comes first by trying to do such risk but somehow needs more time to do it. As being part here in crypto currency community, we can't deny the fact that we may experience some losses from the capital of our money and time in which may lead for our problems here and base on my experience it may give us to learn our different mistakes and will able to learn us in the end.

OP, I have the best solution to your problem. Buy the dip, and HODL. Then take all the time away from Bitcoin, this forum, and everything that has something related to cryptocurrencies.

In 5 years, thank me.

This missing mechanism is quite destructive or not pleasant for the owner of the cryptocurrency or bitcoin. But the main advantage of this is to teach the hodlers to become responsible enough to their investment particularly in managing their funds through their account stored in a safe and self-accessible place. In addition, the missing cryptocurrency will contribute to the worlds market cap that will make the market price of bitcoin quite higher. Imagine, forever hodlers because of the lost coins in a lost wallets.

Risking our money is worth for our investments once you're part of a trusted projects, or a coin that could change your motives in the future. Those things that makes cryptocurrency hard to obtain a good increase, is just a part of its growing process. We need to be more patient on things that frustrates us while watching our asset decline at bigger percentage value. Learn how to control yourself in order to survive.

for the transaction speed actually why there are many alternative coins, because one of them is to replace the less good component of bitcoin. about losing I think all currencies are the same about this, depending on the security of our own is very necessary, as much as possible we are always careful in every transaction.

I understand your statement but but te speed of bitcoin transaction is fast that's why it is the no. 1 and most useful cryptocurrency in the world. That's not a problem and try to search the problem in your browser or any platforms that you use. Because I never encounter something that my bitcoin transaction becomes slow.
 
The issue about lost and how to recover lost coin is not fixed until now. So in order for you to avoid that, be mindful about the address and improve the security of your account.

Yes, it is often found in cryptocurrency, manipulation, hacking, losing valuable coins. All that must be prepared with all the risks. Investment and trading in accordance with what we often hear from investors because that's where we have to know how to optimize well. even investing without what we know is high risk.

Even you buying one satoshi is influencing / manipulating the market in some way. Day trading is basically gambling, and there are far too many factors that influence the people who are making the trades to predict things short term with any accuracy. Technical analysis shows you probabilities, but it cannot predict a news story or incident that spooks users, or influences them to suddenly start buying. The moral of the story is to just keep growing your stash with dollar cost averaging, and when the price has gone up 'too fast', sell a little. When the price has dumped hard, buy a little extra. For the big moves you want to really be doing the opposite of what everyone else is doing. If everyone is buying, that is a great time to be selling at a high price. When everyone is dumping, that is a great time to be buying. Long term is the key...if you are not in this for long term, then stay away from trading.

Trading is always high risk with cryptocurrency but also there is risk in stock market trading. I’m sure there are people that are making a lot of money trading Bitcoin.

Your title is wrong and you're posting in the wrong section.  This is categorically not a "Bitcoin problem".  If the exchange you're on has more activity than you can handle, find one with less activity.  Or, better still, you can trade Bitcoin directly, peer-to-peer, in the way it was designed to be used.



You realise people use bots to do that, right?  You're probably bidding against a bunch of scripts that are coded to continually make trades.



No, that just sounds like you have a gambling addiction and you're not being honest with yourself.  Stop trying to blame the rest of the world because you have some sort of obsessive/compulsive problem and don't know when to step back and take a break.  I recommend you seek help with that, because what you've said here doesn't sound healthy.

i agree with stompix's assessment

but with that said
putting in buy walls to sway traders not to drop the price with no intention to buy, is something that is allowed.
after all whats next... people having to sign a 'intent to buy promise' every order they make and prosecuted if they change their mind or the order doesnt fill... sorry never gonna happen

(buy wall tactic: make it look hard/impossible to break a certain price point thus give people psychological belief the price will settle and change direction...or removing the order if prices gets too close to the buywall to avoid actually spending funds and let others hit it)

yes its mis-used and made to sway people . but thats what happens in trading.
if its causing issues where people cant sleep, shower or do laundry. then the 'victim' neds to take a break, have a relaxing bath. have some food and drink. and just chill.

do not trade based on emotion. because emotion is your own worse enemy.. not other traders
trading is a competition not a social event. people trade against each other. so dont blame others for their actions that end up with you losing out
instead realise there is a risk in YOU losing and hedge your own risks, stop blaming others for bad decisions you make based on emotion

I mean, do you expect anything differently? You're talking about a decentralized currency with no backing of a governmental entity. All these problems you listed are baked into the cake. There is no controlling them nor changing them without fundamentally changing the dynamics of Bitcoin or any other crypto's for that matter. You can improve the security of Bitcoin all you want but it's still on the end user to due diligence and verse themselves on reason security practices while picking storage vehicles and trading Bitcoin. Stuffing away all your Bitcoin on online exchanges or being careless with security isn't something the crypto's are at fault for. The same goes for falling victim to scams. Bitcoin makes it way too easy to scam someone but the fault almost always lies within the sender.

You can't change any of this stuff. Yeah, we'd all love for more security, less scams, less manipulation, but that's part of the cryptocurrency world. The SEC getting involved is by far the last thing Bitcoin enthusiasts would welcome and frankly, they couldn't get involved if they tried. The IRS came down heavy on trying to regulate Bitcoin for tax purposes and failed terribly so I imagine the SEC would have the same fate if they tried to centralize decentralization.

The 2 aspects of the crypto space that is not regulated, or not regulated enough would be this and how exchanges work, I like your take on it, and to a lot of people who are experienced, it's hard to imagine people fall for this, but it does happen.

Crypto exchanges need to be regulated so they can't lie about their volume and how much money they are making, that's basically fraud. Exchanges also need to be regulated so people can't just exit scam with them and face no repercussions.

Decentralized, right? we must understand all the risks when joining cryptocurrency, including the risk of hacking, losses when trading or investing, market manipulation and the influence of certain "groups". If we have to really take into account every decision we make, we must also understand the law and how it works well.

This guy is talking about predatory behavior in Crypto currency, but this behavior is common all over Wall Street. If you ever watched the movie,

"The Wolf of Wall Street" then you would know what I am talking about.

Institutional traders and people in the Banking industry are full of sociopaths, narcissists, or psychopaths. You have to be, if you deal with Billions

of Dollars of pensioners funds. This is nothing new, you can even watch "Boiler Room" (2000) to see how predators are conning other clueless people

out of their hard earned savings. 

We have few critical problems in bitcoin also that need special attention and cant be ignored. BTC still has no mechanism to recover/restore stolen/lost coins, which in my view is a serious one. One more critical problem is speed of BTC transactions.

Hahaha, I'm grabbing my popcorn and waiting for the result of your lawsuit.
I'm pretty sure the SEC is so concerned about a guy getting harassed on the internet and not managing to do laundry because he has to trade.


Trading is optional, slavery isn't, stop with those drama queens comparison.


You realize that is is not about bitcoin, not about trading but you and the guys you're watching being nuts?
Nobody is forcing you to trade, nobody is forcing you to be a surgeon, nobody is forcing you to be the president of Bartovia!
If you want to trade, do it but know the risk and don't come back crying like a baby cause the bad boys stole your silver penny.


Oh, I have the perfect solution.....take a break from the computer!!!

Thanks for agreeing.

There is obvious abuse and it is uncalled for.  Every minute this goes on unchecked, thousands of dollars are lost from unnecessary commissions and orders being made for no reason other than attention which ruin real traders lives.  The stock/crypto market is not a game and screwing with it has serious consequences.

Just because something is new doesn't mean it doesn't have rules.  There has already been a CEO of an exchange arrested for fake volume.  What has been happening lately is very unforgivable.

I support your opinion, I read a lot of information on neironix, about regulation, now it is one of the main problems that slows down the development of the industry, but on ABC I recently read that China is softening its opinion on cryptocurrencies https://neironix.io/news/china_searches_for_cryptography_law_breakers. And China is one of the leading economies in the world, so I think sooner or later everything will be fine with cryptocurrencies.

You will have to understand that this space is highly unregulated, hence you are made to agree when signing up for crypto exchanges that cryptocurrencies are very volatile and the prices are not been controlled or regulated. The market is still at its infancy stage still finding its ground in the mainstream, until then, things will continue the way it's now, there is actually nothing the SEC can do about this.

I'd say it's not regulated at all. There are many local lows but no rules in general so many scam platform choose some EU countries for no taxes or no control. So income requares risk

I understand what you are trying to drive at. All the kinds of manipulations existed in an industry that is not really a highly regulated one, all because many feels that they can get away from doing something considered to be illegal in other industries. Well, what you are seeing is the expression of the other side of human nature and that side will really be taking the limelight if there will be no strict rules imposed and implemented to all players. When people have this perception that there will be light consequences on what they are doing, they will naturally keep on doing those things. Of course, the only way we can deal with this is a strong regulatory measures strictly implemented and with clear penalties on board. However, we are one industry that seems to be not so much in favor with regulations because we are assuming that regulators are not that needed and that we are better off of the government left us alone.

Good luck and more power on your class suit project against Binance. I am sure you can find some other people within this industry who can have the time, energy and resources to go against a giant of a company based in Malta.

Trading has become financial slavery and it really has to change.
Everyday there's something out there there tries to lie to people and abuse them with fake information, trolls, and fake volume nearly on every website but mostly on Binance.com trying to make them buy bitcoin literally everyday, harassing them with constant buy trades and fake volume as if doing anything else is wrong.

It gets so wrong and abusive that traders hardly have time to sleep let alone take a shower or clean their own home.
I'm not sure how many people speak out about this but it's going to have to start to be discussed eventually more.

Not that its bad to buy sometimes...but someone or something out there has taken that idea or joke and really has forced it to get out of hand.  People have suffered because there are sociopaths or psychopaths who just want to be mean and angry and never learn about anything technical trading wise.  There's now something or someone constantly abusing the market as if no one is aware of it, trying to force the people to constantly buy.  It's disgusting, it makes me feel uncomfortable and it's most likely very VERY illegal.
I have several screenshots evidence regarding this problem but it needs to be addressed sooner or later.

Someone is preying on the community and it's been happening for a long time.  The sad part is in the end mostly it seems like someone just wants attention rather than learning or learning how to trade and keep their money.  Not only will these people force the market up, but then they will keep buying and harass people for ten hours or more afterwards as if it your fault or someone else's fault that things are starting to go down afterwards a bit.

This is really uncalled for an its obviously predatory behavior and never used to happen.
I wanted to share this video here because this has been going on for so long that people need something to be able to help them understand how to deal with this type of person.
Watch starting at 20:00 it actually talks about bitcoin after a while.  A video on how to deal with predators and what to watch out for.
https://www.youtube.com/watch?v=Zkg_-_HwRcI

Something has to be done, I've already contacted attorneys, the SEC, the CTFC and even my local police about the problem.  Lawsuits could most likely be made just due to the amount of stress this group has forced the crypto community to go through with its harassment every single day.

If anyone feels the same way, keep trying to help get rid of this problem.  It's serious and it's dangerous.  It's not ok to keep just being silent about this problem.  Bitcoin worked fine before this group or predatory buyer showed up and it's caused nothing but drama, stress, and just complete wastes of time every single day.

I don't need to be harassed for 10 hours after I make a dollar because some sociopath doesn't know how to take a break from the computer!


I'm including an example collage of the spoofing/forcing the market I and the entire world has had to experience in the past few day from this trader.  This is getting out of hand.


And stuff like this, where its going down but someone just "gets angry"  yeah I'm sure this was legal too


I am attempting to start a class action lawsuit at this point.  This community has been silent for too long on this subject and trying to artificially inflate commodities has consequences.  Bitcoin is now defined as a commodity and there have been lawsuits over commodity manipulation in the past.

If anyone else has similar experiences and would like to share or consider joining me starting a class action suit against Binance or whoever is responsible for this I highly encourage you to direct message me although I most likely will not be able to check my account for a while since I'm not here every day.

Thank you if there are any real people left concerned for the sanity and legitimacy of this community anymore.  I'm pretty tired of what this has turned into.