why you shouldn't trade Bitcoin | Bitcointalksearch.org

hunnaryb

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Quote from: gentlemand on July 29, 2015, 05:13:24 PM

Quote from: zeraTunerse on July 29, 2015, 05:09:01 PM

If you want to make a quick money my suggestion would be go for gambling as you can make a good money in a single day, it is risky too, but if you have courage to loose then you should try gambling.

Advocating gambling instead of trading? That is staggeringly pisspoor advice.

Gambling sounds weird but there are many people who are addicted to gambling, but its not an great idea.

Trading also involves risk but the thing is that you have certain strategy in your mind while trading as you will aware when to trade and what would be the outcome.

gentlemand

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Quote from: zeraTunerse on July 29, 2015, 05:09:01 PM

If you want to make a quick money my suggestion would be go for gambling as you can make a good money in a single day, it is risky too, but if you have courage to loose then you should try gambling.

Advocating gambling instead of trading? That is staggeringly pisspoor advice.

zeraTunerse

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Quote from: Mickeyb on July 29, 2015, 09:22:27 AM

Quote

You just need to hang on to their coattails and jump off at the right time.

Well this is the problem, I just don't have nerves to wait it or to sell it at the right time, I might be as well called too greedy.

And this is ok, I admit this loud an clear and I stay away from it. There are other ways to make money in Bitcoin besides trading.

Yes trading is risky and there are many other ways to make money in bitcoins. If you want to make a quick money my suggestion would be go for gambling as you can make a good money in a single day, it is risky too, but if you have courage to loose then you should try gambling.

gentlemand

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Quote from: Mickeyb on July 29, 2015, 09:22:27 AM

Well this is the problem, I just don't have nerves to wait it or to sell it at the right time, I might be as well called too greedy.

And this is ok, I admit this loud an clear and I stay away from it. There are other ways to make money in Bitcoin besides trading.

You wouldn't catch me trading BTC either.

In a way alts are a lot easier to trade on an emotional level. We know perfectly well that the vast majority are there just to maximise profit with no thought for the future because most alts have no future, so you think nothing of going all in or out and never looking back.

I've given up on trading them as well though.

Mickeyb

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Move On !!!!!!

Quote

You just need to hang on to their coattails and jump off at the right time.

Well this is the problem, I just don't have nerves to wait it or to sell it at the right time, I might be as well called too greedy.

And this is ok, I admit this loud an clear and I stay away from it. There are other ways to make money in Bitcoin besides trading.

gentlemand

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Quote from: Mickeyb on July 29, 2015, 08:37:38 AM

Manipulation is not as big.

What the hell?

It's orders of magnitudes worse. However it is probably a lot more predictable. We know perfectly well that a handful of people will pump it and then shit on everyone else. You just need to hang on to their coattails and jump off at the right time.

Bitcoin's manipulation is no doubt just as real but far more complex and distributed. Being a Bitcoin holder makes things a bit trickier. Anyone who is holding an alt is either waiting to dump or needs their head examined.

Mickeyb

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Move On !!!!!!

Quote from: Herbert2020 on July 29, 2015, 12:30:36 AM

Quote from: jonald_fyookball on July 26, 2015, 10:13:38 AM

be a hodler not a trader. top reasons:
1. most traders lose money. if you were a good trader you'd be rich already.
2. why risk losing money trading when you can hold and have a much higher probability of making money on strong fundamentals?
3. thin market = technical analysis is less reliable, bigger spreads, and more manipulation.
4. brokers and exchanges are unreliable (gox)

i tried trading bitcoin with USD and back for profit before but i couldn't totally get the hang of it and gain enough profit to make it worth my time.

that is why i prefer trading altcoins, although the risks are the same and markets are still unpredictable but i could make better money there in comparison with bitcoin - USD

I agree with you. I was trading alts, and I did have some success and made some money. When I tried trading bitcoin, I didn't have a clue on what I was doing and I was just loosing money.

I got a feeling that in bitcoin, there are much bigger fishes that are controlling the situation, that's why it's so unpredictable. In alts this is much less. Manipulation is not as big.

Herbert2020

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Quote from: jonald_fyookball on July 26, 2015, 10:13:38 AM

be a hodler not a trader. top reasons:
1. most traders lose money. if you were a good trader you'd be rich already.
2. why risk losing money trading when you can hold and have a much higher probability of making money on strong fundamentals?
3. thin market = technical analysis is less reliable, bigger spreads, and more manipulation.
4. brokers and exchanges are unreliable (gox)

i tried trading bitcoin with USD and back for profit before but i couldn't totally get the hang of it and gain enough profit to make it worth my time.

that is why i prefer trading altcoins, although the risks are the same and markets are still unpredictable but i could make better money there in comparison with bitcoin - USD

jonald_fyookball

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Core dev leaves me neg feedback #abuse #political

Quote from: Possum577 on July 28, 2015, 09:43:54 PM

Quote from: jonald_fyookball on July 26, 2015, 10:13:38 AM

be a hodler not a trader. top reasons:

1. most traders lose money. if you were a
good trader you'd be rich already.

4. brokers and exchanges are unreliable (gox)

Good topic, I have a question and a comment. If I've never traded before how do I know I'm not good at it yet, maybe I can still be "rich already" if I try some trading! And the people holding Bitcoin at Mt Gox were the ones who got fucked and left with nothing! The traders, the people transacting through probably did the best at dodging that bullet!

Full Disclosure: I'm a hodler.

Holding helps keep the price high if demand remains the same or increases. Now when to hold em, that time is now!

You don't know if you're not good at it necessarily. Trading is always difficult for a number of reasons I won't go into, but the main one being that it's a zero sum game so you have to be better than most and you're going up against smart and experienced people. But the only way to know If you can do it successfully or not is to try. I am not against trading, in fact I dabble myself but not in Bitcoin...and it's WAY easier to make money in Bitcoin by holding it.

wadili89

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Quote from: jonald_fyookball on July 26, 2015, 10:13:38 AM

be a hodler not a trader. top reasons:

1. most traders lose money. if you were a
good trader you'd be rich already.

2. why risk losing money trading when
you can hold and have a much higher
probability of making money on
strong fundamentals?

3. thin market = technical analysis
is less reliable, bigger spreads, and
more manipulation.

4. brokers and exchanges are unreliable (gox)

i am one of the holder because holding have given me profit in past then trading both options have their own risk if you can loss or win in trade then you can also win get profit or loss in holding but as this is obvious bitcoins price will rise its not gonna stay here we all know so holding is better for now a days

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Quote from: ajareselde on July 28, 2015, 06:47:53 PM

Indeed, the better way than holding is to trade and rebuy lower a larger quantity of it,

Well if you can rebuy lower, obviously that's even better, but of course you can't do this without also introducing a risk that you have to rebuy higher.

Alternatively, I'd recommend people to simply put some fiat money that they'd otherwise have on their credit card or bank account, on an exchange instead. And whenever they spend some bitcoins (that they'd otherwise spend their fiat on), buy back the same amount of bitcoins immediately. This will cost approximately the same amount of fiat (give or take some 0.x% fee) that would otherwise have been spent, and this way you're guaranteed to keep your amount of bitcoins.

So this isn't trading per se, there is no risk or profit involved. Or in fact the profit comes from the Bitcoin price going in the long run, because your holding AND putting Bitcoin to good use (by actually paying with it) at the same time.

Quote

Furthermore, bitcoin was created to be spent also, so i don't see the reason why anyone would avoid that. Some people don't differentiate spending and dumping.

Exactly!

Possum577

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Quote from: jonald_fyookball on July 26, 2015, 10:13:38 AM

be a hodler not a trader. top reasons:

1. most traders lose money. if you were a
good trader you'd be rich already.

4. brokers and exchanges are unreliable (gox)

Good topic, I have a question and a comment. If I've never traded before how do I know I'm not good at it yet, maybe I can still be "rich already" if I try some trading! And the people holding Bitcoin at Mt Gox were the ones who got fucked and left with nothing! The traders, the people transacting through probably did the best at dodging that bullet!

Full Disclosure: I'm a hodler.

Holding helps keep the price high if demand remains the same or increases. Now when to hold em, that time is now!

grendel25

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Quote from: jonald_fyookball on July 26, 2015, 10:13:38 AM

be a hodler not a trader. top reasons:

1. most traders lose money. if you were a
good trader you'd be rich already.

2. why risk losing money trading when
you can hold and have a much higher
probability of making money on
strong fundamentals?

3. thin market = technical analysis
is less reliable, bigger spreads, and
more manipulation.

4. brokers and exchanges are unreliable (gox)

1. A lot of traders are making good money trading bitcoin and other crytpo

2. People should only risk what they can afford to lose

3. This is crypto currency we are talking about, not regular stocks. Volatility is what people hope for here.

4. Gox failed but there are still good exchanges out there. Just don't use them to store your bitcoins.

Jorge320

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Holding mostly, but I support the technology by making purchases monthly online, GOT TO SPREAD THE WORD!

- Jorge

jonald_fyookball

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Core dev leaves me neg feedback #abuse #political

Quote from: Blawpaw on July 28, 2015, 08:04:16 PM

Quote from: jonald_fyookball on July 26, 2015, 10:13:38 AM

be a hodler not a trader. top reasons:

1. most traders lose money. if you were a
good trader you'd be rich already.

2. why risk losing money trading when
you can hold and have a much higher
probability of making money on
strong fundamentals?

3. thin market = technical analysis
is less reliable, bigger spreads, and
more manipulation.

4. brokers and exchanges are unreliable (gox)

In part, I'll have to agree with you. But why should you hold all the cake when you can use part to make extra incomes?
Trading is a big risk, but there are some people making money from it.
IMO, you should never hold all the cake and try to diversify your portfolio!

Traders that are profitable will not stop trading because of my post.
Others who are passionate and/or greedy will not be dissuaded from
trying.

Still, many people who try it will get burned. As someone suggested,
if you want to try, do it on a small scale. But there are better things
to trade than Bitcoin if you want to trade. IMO, Bitcoin is for hodling
(and spending)

Blawpaw

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Quote from: jonald_fyookball on July 26, 2015, 10:13:38 AM

be a hodler not a trader. top reasons:

1. most traders lose money. if you were a
good trader you'd be rich already.

2. why risk losing money trading when
you can hold and have a much higher
probability of making money on
strong fundamentals?

3. thin market = technical analysis
is less reliable, bigger spreads, and
more manipulation.

4. brokers and exchanges are unreliable (gox)

In part, I'll have to agree with you. But why should you hold all the cake when you can use part to make extra incomes?
Trading is a big risk, but there are some people making money from it.
IMO, you should never hold all the cake and try to diversify your portfolio!

ajareselde

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Satoshi is rolling in his grave. #bitcoin

Quote from: Kazimir on July 28, 2015, 06:22:34 PM

Quote from: cellard on July 28, 2015, 05:54:29 PM

This. The more money we extract from the evil fiat system the better. It only strengthens Bitcoin. It raises its marketcap, everything about ti is positive. There will always be other people that can afford or it just dont care about holding to spend some of it.

As has been explained numerous times: holding and spending are not mutually exclusive.

By spending + buying back the same amount of bitcoins, you are essentially holding (thus keeping money out of the evil fiat system) and helping the Bitcoin economy grow at the same time.

Indeed, the better way than holding is to trade and rebuy lower a larger quantity of it, and that also means that in time your profits increase largely if you reinvest all, but it's
also obvious that the risk increases as well, so it should be well thought out trades you do.
Furthermore, bitcoin was created to be spent also, so i don't see the reason why anyone would avoid that. Some people don't differentiate spending and dumping.

cheers

Kazimir

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Quote from: cellard on July 28, 2015, 05:54:29 PM

This. The more money we extract from the evil fiat system the better. It only strengthens Bitcoin. It raises its marketcap, everything about ti is positive. There will always be other people that can afford or it just dont care about holding to spend some of it.

As has been explained numerous times: holding and spending are not mutually exclusive.

By spending + buying back the same amount of bitcoins, you are essentially holding (thus keeping money out of the evil fiat system) and helping the Bitcoin economy grow at the same time.

cellard

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Quote from: Beliathon on July 28, 2015, 10:51:58 AM

Quote from: LiteCoinGuy on July 28, 2015, 10:25:02 AM

By just sitting on your coins, instead of using them, Bitcoin won't grow!

That is a myth, sir, and I mean to slay it!

Wealth held in bitcoin represents wealth that was formerly held in fiat. Every satoshi - every cent - makes the network stronger and more valuable. We're growing a baby black hole here, the more mass we feed it the bigger the event horizon. In other words, HOLDING IS GOOD FOR BITCOIN AND DEADLY TO FIAT!

Please read:
https://medium.com/@agilemofo/why-you-should-care-about-bitcoin-1a812f8fa7cd
https://medium.com/@spc_bitcoin/accelerated-learning-for-bitcoin-ab461d4ee1b7
http://nakamotoinstitute.org/mempool/im-hoarding-bitcoins-and-no-you-cant-have-any/
http://trilema.com/2013/things-that-matter-these-days-things-that-dont-matter-these-days/
https://en.bitcoin.it/wiki/Myths

Let the paper banknotes return to their intrinsic value while our hungry infant feasts on bankster wealth.

This. The more money we extract from the evil fiat system the better. It only strengthens Bitcoin. It raises its marketcap, everything about ti is positive. There will always be other people that can afford or it just dont care about holding to spend some of it.

ajareselde

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Satoshi is rolling in his grave. #bitcoin

Quote from: jonald_fyookball on July 26, 2015, 10:13:38 AM

be a hodler not a trader. top reasons:

1. most traders lose money. if you were a
good trader you'd be rich already.

2. why risk losing money trading when
you can hold and have a much higher
probability of making money on
strong fundamentals?

3. thin market = technical analysis
is less reliable, bigger spreads, and
more manipulation.

4. brokers and exchanges are unreliable (gox)

1. Most people get greedy and/or get emotional to their investments, that doesn't mean you have to be one of them

2. Every move you make is a risk of some sort, and just like trading, hodling can cost you just the same.

3. Most people here can't make a decent TA anyways, bigger spreads mean more chance to cash in on those spreads, and manipulation can work in your favor if you
can recognise the direction it's heading.

4. Trading doesn't mean you have to keep your coins on exchange, you can just deposit them, make the trade and withdraw again. Because of avoiding to withdraw after
going to fiat, most traders want to go into other notable alts instead, but if you're not dealing with a lot of funds, this should not impact you as much.

I see the point you are trying to make, but i think that people should find whats fits them the most, because running away from a potential
risks is running away from potential profits as well. With well thought moves, and caution regarding security, trading can be quite profitable, but i agree that it's not for everyone.

cheers

Topic: why you shouldn't trade Bitcoin (Read 3043 times)