People should spend a little bit of the bitcoins to keep the transactions going, so that Bitcoin evolve into a currency.... then miners will continue mining in the future.
Topic: Rules to follow with bitcoin to live a happy life. (Read 474 times)
I personally think the biggest mistakes that people are making.. is just to hodl. People must remember one thing.... the Block reward will expire soon.. and the only way for miners to sustainably mine Bitcoin, is if the transactions increase, because the Block reward will be replaced by the Miners fees.
People should spend a little bit of the bitcoins to keep the transactions going, so that Bitcoin evolve into a currency.... then miners will continue mining in the future.
People should spend a little bit of the bitcoins to keep the transactions going, so that Bitcoin evolve into a currency.... then miners will continue mining in the future.
I think nothing beats the rule of, spending or investing only what you can afford to lose. It is the best rule I ever followed. Spending free money and investing it in Bitcoin will lessen the stress if the Bitcoin price does not go in what we predicted or assumed. Investing the money we can afford to lose has no impact or bearing in our life if the investment goes southward but will greatly boost our happiness if it goes northward and give us huge profit. So whatever tactics and strategy or belief in our investment, to make it worry less, just invest the money that we can afford to lose.
I completely agree with you that you should only invest money that you can afford to lose. It's also a good idea to understand how the Bitcoin criterion works. Bitcoin is a top project that has survived when everyone believed it was the project's end. It started both the bull and bear markets. Investors who had money invested in a number of altcoins during that time were traumatized by their crashes and worried that Bitcoin would experience a similar fate. Investing in Bitcoin is easy and stress-free, and you may reap the rewards right away. Because I don't want to get greedy with the market and tend to stagnate on just the coin, I always triggered my profits when Bitcoin broke my Take-profit. 
I think nothing beats the rule of, spending or investing only what you can afford to lose. It is the best rule I ever followed. Spending free money and investing it in Bitcoin will lessen the stress if the Bitcoin price does not go in what we predicted or assumed. Investing the money we can afford to lose has no impact or bearing in our life if the investment goes southward but will greatly boost our happiness if it goes northward and give us huge profit. So whatever tactics and strategy or belief in our investment, to make it worry less, just invest the money that we can afford to lose.
Swing trading can be profitable strategy for those with good technical skills/understand chart patterns and have ability to capture short term profit opportunities,
either by taking long or short position. Unlike day traders they hold their position for few days or weeks until they can close their position in profit. However, this strategy is also associated with risk, particularly when you do margin or future trading. It is always better to use risk management tools to avoid sudden and unexpected losses. Using risk management is always important to mitigate potential losses and increase chances of success.
Swing trading is something that professionals do and not something we should be doing if we do not have any idea at all how to do it. I personally believe that the best thing to do would be making sure that it is going to be something valuable, and in order to do that we should be building something that is as well as hoped for. I am not saying that it is going to be amazing to achieve, of course it is a risk and we shouldn't take that if we are not ready. either by taking long or short position. Unlike day traders they hold their position for few days or weeks until they can close their position in profit. However, this strategy is also associated with risk, particularly when you do margin or future trading. It is always better to use risk management tools to avoid sudden and unexpected losses. Using risk management is always important to mitigate potential losses and increase chances of success.
However, only the people who reach to a super high level of technical understanding that would work and that's the part we need to continue doing so. I believe that I am not at that level, so I don't do it.
different people have different rules, but the rules you give are good enough for beginners,
the rule for myself that I have applied until now is "not make a deposit using money from a personal wallet"
I don't want to experience excessive losses and be sad if my money is lost in crypto
if i can earn free why should i spend money on crypto because my goal to earn money from crypto is not wasting money on crypto
If you could able to earn crypto and able to save it up then it would be good but its not bad to buy up coins for future investment but of course it would really be depending on which coins are you really that the rule for myself that I have applied until now is "not make a deposit using money from a personal wallet"
I don't want to experience excessive losses and be sad if my money is lost in crypto
if i can earn free why should i spend money on crypto because my goal to earn money from crypto is not wasting money on crypto
saving up. When it comes to the security of your assets then it would really be that normal that you would really be needing to follow those basic security measures and be aware on what
you are doing. Saving up and accumulate is something that we do really need to do but of course its not an assurance that it would really be still existing on the future or on our life time.
Just live according into your way of living and this is where happy life would be as long you are really that contented.
different people have different rules, but the rules you give are good enough for beginners,
the rule for myself that I have applied until now is "not make a deposit using money from a personal wallet"
I don't want to experience excessive losses and be sad if my money is lost in crypto
if i can earn free why should i spend money on crypto because my goal to earn money from crypto is not wasting money on crypto
the rule for myself that I have applied until now is "not make a deposit using money from a personal wallet"
I don't want to experience excessive losses and be sad if my money is lost in crypto
if i can earn free why should i spend money on crypto because my goal to earn money from crypto is not wasting money on crypto
I think it is possible to make good profits in the future if you understand the position of Bitcoin and buy it. If you can analyze the current Bitcoin market, then you can definitely get some idea about the future of Bitcoin. and if you understand the concept of Bitcoin then you will definitely invest. Invest your money as much as possible and hold it for long term rather than short term. then surely you can gain reputation as a good investor in future and earn good money by investing in Bitcoin. So investing in bitcoin is the only way I feel to change my life is to take advantage of the opportunity to invest in bitcoin.
I don't really agree, because I keep repeating it but it's not healthy for Bitcoin to have such an approach. I'll explain why, you say that Bitcoin will have great exponential growth in the future and that you feel confident in the investment you have made. Now let's put this hypothesis and that everyone holds their own Bitcoins, what happens? Absolutely nothing. Because you are using it as an asset, as a store of value and not as the means of payment for which it was born.
I think it is possible to make good profits in the future if you understand the position of Bitcoin and buy it. If you can analyze the current Bitcoin market, then you can definitely get some idea about the future of Bitcoin. and if you understand the concept of Bitcoin then you will definitely invest. Invest your money as much as possible and hold it for long term rather than short term. then surely you can gain reputation as a good investor in future and earn good money by investing in Bitcoin. So investing in bitcoin is the only way I feel to change my life is to take advantage of the opportunity to invest in bitcoin.
I don't really agree, because I keep repeating it but it's not healthy for Bitcoin to have such an approach. I'll explain why, you say that Bitcoin will have great exponential growth in the future and that you feel confident in the investment you have made. Now let's put this hypothesis and that everyone holds their own Bitcoins, what happens? Absolutely nothing. Because you are using it as an asset, as a store of value and not as the means of payment for which it was born.
There are too many people who try to give life advices but I am pretty sure that there is none needed anymore. All the things that is needed to be done is the only thing that we need in the end. I feel like we shouldn't really do a big thing out of trying to make people live a decent life with these words and sentences and so forth. People can look for online and see a billion example of this, there is no need to write it again and again.
The trouble is psychological for most people, me included, we know how to, we just don't do it, not because we don't know how to, but because we fail to have the desire to do it in the end. I can't, I am sick and failing to get better these days, not because I don't know how to get well, but don't have the desire to get better. Same logic.
The trouble is psychological for most people, me included, we know how to, we just don't do it, not because we don't know how to, but because we fail to have the desire to do it in the end. I can't, I am sick and failing to get better these days, not because I don't know how to get well, but don't have the desire to get better. Same logic.
yes, it happened to me also, you said is all correct.
i learned so many things but not have desire to do it .
There are too many people who try to give life advices but I am pretty sure that there is none needed anymore. All the things that is needed to be done is the only thing that we need in the end. I feel like we shouldn't really do a big thing out of trying to make people live a decent life with these words and sentences and so forth. People can look for online and see a billion example of this, there is no need to write it again and again.
The trouble is psychological for most people, me included, we know how to, we just don't do it, not because we don't know how to, but because we fail to have the desire to do it in the end. I can't, I am sick and failing to get better these days, not because I don't know how to get well, but don't have the desire to get better. Same logic.
The trouble is psychological for most people, me included, we know how to, we just don't do it, not because we don't know how to, but because we fail to have the desire to do it in the end. I can't, I am sick and failing to get better these days, not because I don't know how to get well, but don't have the desire to get better. Same logic.
5. Never gamble with money/crypto you cannot afford to lose, Or never ever gamble
This is just theory to many people, in practical sense, many people are gambling with the intention to double the money they have. They see gambling as a way to make money.7. if you hold big amount then apply every kind of security available, to keep your keys safe.
8. Stay away scammy schemes
Scammy schemes are the "too good to be true offers". 
What the op lists is largely covered by a strategy of long-term holding of Bitcoin and by a rule of not investing what one can't afford to lose. Another is ensuring secure storage of coins and being careful around centralized platforms (not your keys, not your coins). So to me, it's 3 rules, not 8. I believe it's also important to have goals and what-if scenarios planned out. What is the target price/value of Bitcoin when you think you should sell/spend your coins? Or is it based on a duration of holding or other time-specific events? What if Bitcoin loses a lot of value and it starts looking like it's not recovering this time? Like, what if it goes to $15k, then to $10k? Do you cut losses or keep hodling no matter what? What if there's a serious objective change in the world that makes Bitcoin potentially less relevant or even useless (like WW3, a leap in quantum computing etc.)? Having plans to complement the overall strategy can be useful because you'll be prepared if something happens and since currently the situation is alright, you have time to calmly think and make decisions in advance.
Some of the experience suggestions people have come up with are quite interesting, but I find most of them to be things that need to be experienced. And our investments are not all the same, so no one is the most complete in its own opinion. It seems to me that if we have known bitcoin and the market long enough we can all have our own reasons and suitability to the investment, and in theory happiness occurs when the investment is profitable and beneficial to the self. like everyone else. And with a new environment, along with the small scale, the opportunity or the risk that also comes with it, I find that simply accumulating bitcoin over time is enough to make me satisfied and grateful.
I think it is possible to make good profits in the future if you understand the position of Bitcoin and buy it. If you can analyze the current Bitcoin market, then you can definitely get some idea about the future of Bitcoin. and if you understand the concept of Bitcoin then you will definitely invest. Invest your money as much as possible and hold it for long term rather than short term. then surely you can gain reputation as a good investor in future and earn good money by investing in Bitcoin. So investing in bitcoin is the only way I feel to change my life is to take advantage of the opportunity to invest in bitcoin.
swing trade is also good and bad it's everyone's own choice, but i added that point because it is good in ^ a way
Swing trading can be profitable strategy for those with good technical skills/understand chart patterns and have ability to capture short term profit opportunities,
either by taking long or short position. Unlike day traders they hold their position for few days or weeks until they can close their position in profit. However, this strategy is also associated with risk, particularly when you do margin or future trading. It is always better to use risk management tools to avoid sudden and unexpected losses. Using risk management is always important to mitigate potential losses and increase chances of success.
I totally agree with your number one rule but I don't fully understand why you added swing trade is good to your rules. To me swing trade seems like gambling, you can either gain or lose. One major rule should be to invest in Bitcoin, keep a part of your savings in BTC regularly and secure it properly. Do not worry about the price because in the long term BTC is always bullish.
swing trade means holding your trade for about a week or month, and intraday or day trading is like quick trades like holding 30minutes or so, when we trade intra day we need to take quick decision which will result in our psychology and discipline, we will take trade in revenge mode, so in swing trade we can take trade by focus we have time to decide when to enter a trade,
swing trade is also good and bad it's everyone's own choice, but i added that point because it is good in ^ a way
I totally agree with your number one rule but I don't fully understand why you added swing trade is good to your rules. To me swing trade seems like gambling, you can either gain or lose. One major rule should be to invest in Bitcoin, keep a part of your savings in BTC regularly and secure it properly. Do not worry about the price because in the long term BTC is always bullish.
Maybe he just likes to swing trade. Not everyone do like to trade at all, that's why many of us will just choose to buy and HODL for a long time and that's all set.If we don't want to take the risk of swing trading, we can just simply be happy what we've chosen and that's to just HODl. And keep everything go according to what the market is showing and that's to be patient.
Other factors depend on how you're making your life satisfied.
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Have something for holding and separate the funds for trading ok? that must be on the list and you must literally learn from that.
sharing the funds for trading and holding will be serve you mistake in decisioning , we must understand that in crypto? nothing is certain but speculation , that is what we need to take and only invest the funds whos in not so important needs.
I don't think you need a list for investing on cryptocurrency, because you will only invest in some selected coins. Though it is only preferable that you invest only on bitcoin.sharing the funds for trading and holding will be serve you mistake in decisioning , we must understand that in crypto? nothing is certain but speculation , that is what we need to take and only invest the funds whos in not so important needs.
I agree on that part that only invest the funds you can afford to lose.
And again, sorry to say, but investing only in bitcoin is not wise, it is absolutely more wiser if one diversify their crypto portfolio, it iis alright to have the bigger potion of your portfolio centered in bitcoin, but also see that you invest in other coins too, cus even during a bull run, there are coins that will put perform bitcoin.
I totally agree with your number one rule but I don't fully understand why you added swing trade is good to your rules. To me swing trade seems like gambling, you can either gain or lose. One major rule should be to invest in Bitcoin, keep a part of your savings in BTC regularly and secure it properly. Do not worry about the price because in the long term BTC is always bullish.
Um, that's a pretty good article but let us not put any rules on Bitcoin space because it is itself an entire universe in which you can learn, adapt and exchange many things over time. Blockchain is the mother of all, bitcoin is a child roaming on the highway of the same. To be happy in your life bitcoin won't do much except give you profits and losses pretty much the same as any other asset/currency would do in the long run.
If you want to be happy with the bitcoin then simply hold one and ride the roller coster with it. There gonna be ups and downs as we pass the bitcoin journey in our lives. You can't control it, you can't change anything in it (technically).
Just save up some money in bitcoin now and then, hold "your own keys" and that's enough to ask for happy life in the future.
If you want to be happy with the bitcoin then simply hold one and ride the roller coster with it. There gonna be ups and downs as we pass the bitcoin journey in our lives. You can't control it, you can't change anything in it (technically).
Just save up some money in bitcoin now and then, hold "your own keys" and that's enough to ask for happy life in the future.
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