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Topics - Dr.Bitcoin_Strange

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Cryptocurrency discussions / What makes it possible to hold tight to your portfolio without selling.

« on: February 10, 2024, 10:20:31 PM »

Well, the thought just came to my head: to discuss the things that make it possible for someone to hold tight to their portfolio without selling so quickly when there is yet a little or no profit on their investment.

A few things that make some investors quickly sell off their bitcoin are:

1: lack of proper knowledge about Bitcoin technology and also lack of Bitcoin investment knowledge.

There are some unofficial investment rules of Bitcoin, that state, "buy the dip and hold, keep holding until you become rich, never invest the amount you can't afford to loses, never invest the amount you cannot hold for a long time, not your key, not your coin, if you don't sell cheap, you have not lost anything, etc. If an investor studies and understands those rules, they will hold onto their portfolio for a long time. If also a Bitcoiner understands the technology, knowing that it is not a pump and dump coin like other altcoin, then they will have the courage to hold tight to their portfolio.

2: Depending on Bitcoin investment as the only source of income. If an individual decides to quit their job and invest all their life savings and the entire salary into Bitcoin, how then can they get the money to spend on their financial needs? It therefore becomes very important for an individual to have other streams of income so that when any need arises, they will not have to sell their Bitcoin but would rather spend from their salary or from the earnings they make in their business.

3: Borrowing to invest in Bitcoin. Although interest-free loans from relatives can be preferable, taking high-interest loans from banks or private companies to invest in Bitcoin is quite risky because the loan can be due when the investment has not really generated any good profit for you.

If there are more, you can add them in the comments to enable others to learn and be guided.

Bitcoin Forum / Bitcoin gives you freedom.

« on: February 07, 2024, 11:23:27 PM »

We all know that Bitcoin is the leading crypto in the space, followed by other altcoins on the list that are also doing great. While investing in some other assets, you actually need quality time depending on the asset you are investing on. You will also deal on a centralize system where there is no privacy, people around who knows you will actually know what asset you have invested on and you may have to visit some office to process your papers of agreement on which ever asset it is.

If you are also an entrepreneur, running business, you will definitely spend time and energy at you business place. If you are also an employee, you definitely will have to be at the office from morning to evening depending on the nature of the job.

But if you are investing in Bitcoin, you will have the freedom to do what so ever you want because investing in Bitcoin doesn't take you time, you can do it in your house or any comfortable place.

Cryptocurrency Trading / What amount of profit will make you to take a brake till the next day.

« on: February 07, 2024, 10:47:56 PM »

I created the topic "Don't get greedy, Just take the already earned profit and leave." While some people agreed with what I said and contributed more idea too. My experience just some days ago and the comment made my some members on the other thread, lead me to create this topic which can still be discuss on even while discussing is still on on the other topic.

So, I was trading some days ago, after investing $100 on the trade, I tried the first posting and took profit after I got about $30, enter another position and took profit of $28 but the last position I entered took almost all the profit I made that day.

From the first two initial position, I made about $58 but the third time I decided to try again, I lost the $58 profit. What I learned is that a trader should set a target for the profit they wish to earn in a day to avoid over-trading which can actually lead to loses.

My question now is, what is the amount of profit you will earn in a day before you will be comfortable to take a brake till the next day?

After I lost my profit, that was when I realized that $58 is really a big amount of money in my local currency which could have been a big amount to earn in a day.

Share your opinion.

General Discussion / General Discussion is a kind of off topic board

« on: February 04, 2024, 10:51:03 PM »

This is not the kind of topic that should be bumped, although it's a "general discussion board" But this topic is kind of very off topic which suggest that there is a need to add an off topic board. If this board alao serves as an off topic, then there should be a serious moderation here because I see some serious topic that is better fitted in other boards like Economy board.

Suggestion Box / Just a humble Suggestion regarding one of the forum board and child's board.

« on: February 04, 2024, 10:44:08 PM »

Yesterday, I wanted a created a very helpful guide (topic) particular for newbies joining the cryptocurrency space but I couldn't find any board that will be best suitable for the topic I wanted to create and that was the reason I am creating the topic.

When I was about to create the topic, I thought it would be best on For Beginners Boar so I opened the board and there was no option to create new topic. Then I thought to my self of creating the topic on the sub board Further Education but yet there was no option to create a new topic. The last sub board called Terminology which I found there was not really the right board I should create a guid for newbies.

On the For Beginners Board, I saw a sub board named " Basic questions about this forum " While there is another board named Forum related, my suggestion is that, let the sub-board "Basic questions about this forum" be moved to the board "Forum related". Then the Basic Questions about Cryptos and Terminology can be left as a sub-board on the "For Beginners.

Let the "For Beginners" Board be a board where topics such as "newbies guide" Will be created. Imagine a topic like, "Newbies, be careful of the new scams", which board is more appropriate for such topic?

I want to the attention of @Admin and @Jokers. Other members too, what are your opinion on this?

Entrepreneurship , Business & Online Work Forum / what drives the success of a business.

« on: February 03, 2024, 11:46:39 PM »

We know, that there are so many facts that can contribute to a successful business. So, for those that are entrepreneurs and those that have entrepreneural spirit, what is the major fact that contributes to the success of a business?

In a simple sentence from experiences and knowledge I have acquired, I can mention the following characteristics.

1: Having a correct mindset as an entrepreneur can drive success.

2: Siting your business in a good location can drive success.

3: Understanding the kind of business you do and finding the right market for it. For example, if you sell „x“ Items, find a market where „x“ Items are mostly needed. Don't go to market that "y" Items are needed most.

4: Maintain a good customer-relationship, and you will definitely be able to win the hearts of so many customers, and with a good customer-relationship, it can bring about customers loyalty.

There are more, which I would love you guys to mention and also specify the ones that I think are the major drives.

Economics , Sociology & Politics / Education or Income Generating job, which will you chose first?

« on: February 02, 2024, 11:30:23 PM »

Well, the title says it all already, so yeah, assuming you have two options and you are only supposed to make one choice, what would be your choice ?

Between to accept a well paying job and to go to the university and take a foure years program, which will you accept and why do you think it will be better choice for you?

Forum related / Who else knows this?

« on: February 01, 2024, 09:33:29 PM »

So, I mistakenly tapped the green icon that is usually close to a member's username. I mean the green icon that indicates if a user is online or offline. After I tap the icon, it opens up a text box to send the user a personal message.

For example, if you click the green icon next to my user name, you will see a text box to send me a personal message.

I know that this thing has been there for a long time, but I bet that most people are not aware of it, mostly teleported members.

How many of you are aware about this?

Off topic & Sports / Health is wealth

« on: January 19, 2024, 11:29:37 PM »

For a man who is seriously sick, he usually has only a few wishes, which are to get well again or not die from the sickness. There's a saying that health is wealth; a dead man cannot have a desire or need any more unless he is alive.

Guys,I just want to remind us that health is a very important part of our lives, and we should always keep in check with our body systems regularly. As long as someone is alive, there is hope that the person can work to earn money and invest to double their money, but a dead man has no hope.

Guys, in whatever you do, know that health is paramount, so you have to be conscious of it.

Cryptocurrency Trading / Don't get greedy, Just take the already earned profit and leave.

« on: January 18, 2024, 10:50:20 PM »

I started rehearsing my trading skills and strategy again on my favorite derivatives trading exchange, which is Digifinex. Although I am not yet trading with real money, I am still on the demo account, which usually offers a demo balance of $1000. Honestly, since I started practicing again, I have blown the demo balance more than three times now. First, when I started, I increased the balance from $1000 to $1500+ just in a day. I should have just rested for that day after making such a profit, but I got greedy (that's what it is) and decided to keep trading if I could increase the balance up to $2k, but my last trade blew the account.

It happened again the second time and again the third time, and I just kept blowing those accounts after making enough profit that I should have just taken a break every day and continued the next day.

You guys might be thinking that this is just a demo, so why worry? And my reply is that there is a need to worry because you can actually use the demo account to learn how to master and control your emotions and how to listen to your inner voice when it speaks to you to stop. You will also learn how not to get greedy, but you can achieve those characters if you actually handle your demo balance as if it's already your main balance (your real money).

Conclusion: I feel that greed is one problem in trading that can actually lead to unexpected losses. My advice is that, as a trader, always take that profit you have made. If, for example, you entered a position and it's really going in your direction, if you have seen a +$100-$500 profit, it's better to take it first.

Economics , Sociology & Politics / Which business is very profitable?

« on: January 13, 2024, 11:41:38 PM »

Hello guys, so I was thinking just about the best profitable business that anyone can engage in, depending on the country in which they find themselves. There are a lot of people on this forum from different countries all over the world, and as we are from different countries, we have different policies and rules that govern business.

In my country, you can just start some kind of mini business with less capital, and some of those businesses can be very profitable. Businesses such as:

1: selling of cold bottles or sachets of water: In my country, it's usually very hot during the dry season, so if you engage in this business during that period, you will make a lot of profit. So, if you are in a country that experiences a very hot season, you can make use of the opportunity to enter into such a temporary business.

2: mini grocery shop: every day of our lives, we spend on a few things at the grocery shop, so if you are doing a grocery business in a good location, you will definitely be selling more often and making a profit.

3: food business: Every day of our lives, we eat. That's to tell you that there is usually high demand for food items, so if you are actually doing a food business, you will definitely sell and make a profit.

What are the other profitable businesses in your area? Let's discuss.

Gambling discussion / What ugly incident or occurrence have you ever experienced in gambling?

« on: January 12, 2024, 10:50:13 PM »

You can tap on the image to watch the full video. It was crazy to see this kind of luck slip from a gambler's hands simply because his device malfunctioned. It was funny to me, but at the same time, it saddens me. I wonder how bad the gambler felt.

Have you been faced with this kind of gambling problem? If not this particular one, what other annoying incident have you ever experienced in gambling?

On that video, what happened was that a dude from South Africa was gambling on a casino site known as Betway. The guy staked ZAR 277.08, and when he started the round, he got about 4,870.24x multiplier, which doubled his staked amount up to ZAR 73,059, which is about $3,900+. he lost the money because he was unable to cash out before he crashed.

In my case, I have not actually experienced any situation like that, apart from the usual disappointment you will experience with a club after you place a bet on them, believing so firmly that nothing will stop that club from winning, but they end up losing.

I felt there is need to still continue this discussion here

Suggestion Box / View all pages feature and a "next button" (>>) feature

« on: January 11, 2024, 10:44:51 PM »

This is how it looks on this forum.

Example of what I mean is on the image below.

Ok, during my few weeks spent on this forum, I have realized that there is no view "all pages feature, and there are also no next page buttons, unless you have to tap on the number of the page. It will be nice if that feature can be added.

The purpose of the view all pages feature is that it will help one quickly search for a user or the user's comment on a bulky thread, and that's why it needs to be added.

Off topic & Sports / How to survive in January on a low budget.

« on: January 07, 2024, 05:38:53 PM »

Greetings to you all, while I was reading through some educational materials on the internet today, I came across this article and after reading through it, I just felt it could be beneficial to someone here.

Quote

The joy and excitement of December festivities often leave us with fond memories but also an empty wallet as we step into the new year.

As we face the financial aftermath of holiday celebrations, it's crucial to adopt practical strategies to ensure a smooth transition into January without breaking the bank.

Here are some tried-and-true tips to help you survive the month on a low budget.

1. Head straight home after work: One effective way to cut down on unnecessary expenses is to resist the temptation of post-work outings. Instead of hitting the town or joining friends for dinner, consider heading straight home after work.

This simple change can significantly reduce your spending on entertainment, dining out, and impulsive purchases.

2. Create and stick to a budget: Drawing up a budget may seem like an obvious step, but it's often overlooked. Take the time to list your monthly expenses and allocate a specific amount to each category, including essentials like rent, groceries, and utilities.

By having a clear budget in place, you'll gain better control over your finances and be less likely to overspend.

3. Patronize public transportation: One of the major contributors to post-festivity financial strain is excessive spending on ride-sharing services like Bolt, Uber, Yango, and others.

Instead of relying solely on these convenient but costly options, consider using public transportation. Trotro (bus) is often more budget-friendly, and the savings can add up significantly over a month.

4. Minimize ride-sharing expenses: If public transportation isn't a feasible option for your daily commute, take steps to minimize ride-sharing costs. Carpooling with colleagues or friends can help distribute expenses, making the journey more affordable for everyone involved.

Additionally, explore ride-sharing alternatives that offer lower prices or discounts for regular users.

5. Embrace frugal living: Surviving on a low budget in January requires adopting a frugal mindset. Look for opportunities to cut costs in your daily life, such as cooking at home instead of dining out, exploring affordable entertainment options, and shopping for necessities during sales or with discounts.

By implementing these practical tips, you can set the stage for a more financially secure and stable new year.

If you have any other good tips that could help manage and survive on a low budget, you can share your ideas.

My Tips:

Don't take up too much responsibility for your self. Progressively take up one at a time and don't take 2 or 5 at a time.
Don't promise people (friends and family) money that you don't have. If you don't have the money to gift yet, kindly tell them that you don't have anything on you at the moment. Don't be too proud to say, "No, I don't have for now. "

I hope this helps.

Economics , Sociology & Politics / Gold and Bitcoin

« on: January 05, 2024, 10:54:49 PM »

If you mention gold in a public space, I believe that 100% of people in that place will actually know what gold is, and they know that gold is a valuable asset that can be traded for real money, but if you mention bitcoin in the same public space, only about 80% of people or less will know what bitcoin really is. Some of those people may have heard about Bitcoin but may not have the proper knowledge about Bitcoin.

So, my question is, for those of you that actually have good knowledge about Bitcoin and gold, which will you love to invest in, and what is your reason for choosing the asset?

Let's share ideas.