It is possible to make a profit by making a long-term investment. However, much more research is needed on currency selection for long-term investments. Then it is possible to benefit. However, trading is more profitable than short-term investments. Trading always requires some money, it is always possible to make a profit.

And it is also posible to make losses in day trading in cryptocurrency over both are good and the safest to me if you don't fully understand day trading which is also most risky, is to trade long term which is more of HODLing and selling when you are in good profits and this works too. I am not much of a day trader myself but would occasionally 5ake day trades just cos I saw an opportunity.

Quite frankly, is there any meaningful reason given by the Nigeria government on why they ban Banks from supporting crypto trading in the country? How much of crypto has been linked to fraud in the country? We hear Bandits and kidnapers demanding for ransom and those ransoms are being paid but none has been linked to cryptocurrency. This is the worst government in history that will deliberately put the youths in the most unpleasant situation by not only not been able to create jobs for the population but also doing everything within their power to make the youths suffer by trying to takeaway the next available source of earnings for them, well we ain't dead yet.

Lately, more and more users are already pissed and moving away or temporarily halted using Ethereum because of expensive fees while others are started to look for better alternatives or even migrated to the Binance Smart Chain (BSC) and Tron Network which is much faster and sustainable transaction fees, compared to Ethereum.

Question how it will affect the Ethereum base tokens or ERC20 tokens in the short term?
Following that many are not happy with these intentionally impose transaction fees. Just imagine I was sending $70 worth of ERC20 tokens and It takes 45 minutes to confirm with the transaction fee of $26 for me that was too much It was a shame on the Ethereum side. they are slowly eaten by greed. drop your fearless opinion below!!!

I believe it is affecting ERC20 transaction already. I tried to transfer some USDT from one wallet to another exchange yesterday and the fee was about $20 and I just couldn't do that, I have to wait until that is much lower since there is an alternative at the moment for me and I believe to many others too.

Quote from: owlest on February 26, 2021, 08:00:47 AM

Quote from: Sharpmax on February 26, 2021, 06:36:40 AM

Cryptocurrency has now reached a position where anyone can go to the stage in a moment and their fortunes can change very quickly.  But there is huge ricks and patience here.  He who cannot take Ricks in this cryptocurrency will never be rich.  If you want to be rich in cryptocurrency, you must take rickshaws. We sell any coin as soon as its price increases a little.  Next time we see that the coin has increased a lot then we put our hands on our heads.  So far I have not been able to change my life from cryptocurrency.  I hope I can do it in the future.

Cryptocurrency and risk are two inseparable concepts. Many take risks and lose, while others take no risks at all and make a profit. Perhaps you knowingly took an asset that was not supposed to bring profit? Or maybe you should take a big risk at least once?

You are right. Once you get into cryptocurrency trading you should understand that you have incurred some level of risk and that level of risk varies depending on the projects you choose to invest in. Like you said, some people might want to take a bigger risk investing in some mostly new projects hoping to make Huge gains, some win Most don't. So even though you cant avert risk in crypto, they could surely minimize it.

You took the words right out of my mouth here. I think some investors knowingly invest in some cryptocurrencies just to take that risk of making huge gains, I mean hoping this is the one that will bring that once gain and maybe not even looking or going the due diligence of researching the project properly. Risk can not be separated from crypto trading so you have to be sure of what you are investing on that, that is the right project.

There is that persistent concept in some people that cryptocurrency is just actually making money out of air. In other words, everything in cryptocurrency are based on nothing of really valuable in the first place, and therefore we can say that in the long-term the future of this whole thing is not so bright but bleak. This can be likened to the printing of money which many central banks can be doing right now.

How valid is this assumption and what can be the best argument against this impression?

Money as in Fiat money is just paper, so why should it be valued? The Fiat money has value because people (Governments) made it so by saying the printed paper is worth such and such hence we should hold, value and use it. This analogy is what is pushing crypto to me. People have come to understand and take it as a Valued entity and we that believe will accept it from anyone that offers it even as a means of exchange but until it is Globally accepted as that, only the few in that circle will continue to believe it is not Air, that it also have values just just like the physical minted Coins.

Elon Musk is a very popular man due to his big list of success stories, so he has become like a symbol of triumph to many of us. Whatever he is saying can have an impact on many markets. And recently, this is proven when he just merely included the word Bitcoin on his Twitter account. The same happened to Dogecoin and maybe XRP.

What is amazing is that Elon is not actually holding a lot of cryptocurrency and his company is not known to be involved with it either (though of course, we don't know for sure because there are many ways to hide one's involvement with anything).

Should we continue listening to this man? And to what extent will his endorsement be effective in pumping the cryptocurrency market?

Well you said it all, Elon Musk is not just a popular Man but a Rich one at that too and with people like this, their words seems to move market be it Stock market and more recently the Crypto market and we have seen in two different cryptos where that happened already with his tweet, DogeCoin and Bitcoin. Yes people or investors might want to follow with this kind of Financial Heavy weights are doing hoping they too can reap from the benefits of the positive reaction their words produce and on the other hand, caution must be taken cos that can spell dome too if it goes sideways.

It will go even higher before year end, the price speculation of btc is 100k plus so very likely to see a higher capitalization in near future.