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Messages - MRY

Pages: [1] 2 3 ... 11
1
Cryptocurrency discussions / Re: Anonymity - good or bad?
« on: May 08, 2024, 10:53:20 AM »
Anonymity is good for the general people even though there is a risk of misuse, but it is bad for the governments. Generally, governments all over the world want to tax everything. They don't want anything is hidden from them because they get a good amount of tax from its peoples resources.
Exactly, the government sees cryptocurrency as a good place to make quite a large profit, therefore currently many governments in several countries are trying to regulate the circulation of cryptocurrency, especially bitcoin. They try to regulate the circulation of cryptocurrency by imposing quite large taxes on those who have cryptocurrency assets.

2
I want to know what methods you follow to buy Bitcoin if you live in a country that does not have online payment services.

I live in a country where we don't have any online payment services because they are blocked by payment services, so the only way available here is via P2p.

Bitcoin cannot be purchased directly, so we use other methods, for example by purchasing a stablecoins such as USDT Tron, BUSD.

The purchase is through a broker, who receives a commission of 1-2%, then transfer USDT Tron, BUSD to any central exchange, and then buy Bitcoin at the market price.

The problem is when transfer Bitcoin from the DEX to the wallet, they take a high fees, in addition to of course the broker’s fee. But this is the only solution available here.

Is there another solution based on your experiences?
Well, what you already said, I would say is the only solution for anyone who lives in a place where they can not make online payments, for example, here in Nigeria when crypto currency was still very new, we used to be able to buy crypto directly from exchanges with our bank debit cards and so on, but after a while, international payments with our local atm cards was blocked by the central bank, and crypto trading was banned also, so we all shifted to p2p means of buying and selling our cash for crypto or crypto for cash.

Today and right now, the ban on crypto have not been lifted yet, but online payments have become very rampant and now, we can comfortably buy and sell crypto and make payments through online means without the government knowing exactly which is crypto payment and which is not.

In the nutshell though, if card payment works in your country for international transactions, then it's possible to buy crypto and pay directly with your bank card (if crypto is not banned in your country though), but in a situation where bank card isn't working, then the only effective solution remains p2p.
So far I have seen only 2 countries that give permission to purchase bitcoin directly using your bank card. In my country, if you want to buy bitcoin, you have to buy USD based on the Tether network and send the USD you have to an exchange until finally you can buy it. bitcoin, it is quite complicated because in my country there are still no rules or regulations regarding purchasing bitcoin legally.

3
Cryptocurrency Trading / Re: Do not neglect fundamental analysis.
« on: May 08, 2024, 10:47:19 AM »
To really get an accurate prediction in trading traders are often required and advised not to totally depend on technical analysis, forgetting fundamental analysis. With proper timely information from the news, you can make a lot of profit on a trade.

If you know that you will not be able to keep up with news updates as the come up, you can make a smart move on setting notifications on various crypto news handles on social media platforms like X, so that whenever there's a new development consigning cryptocurrency and a particular coin you'll be among the very first people to hear about it. Some traders make millions from just taking advantage of the news, and they are also able to avoid losses too due to fundamental analysis.

With Technical and Fundamental analysis, the chances of making profit from a trade increases massively.

         -   Actually, technical analysis and fundamental analysis are a good combination to use both of them; they should not be separated, mixed, or fought; it should not be like that; instead, they should be side by side, which will help our traders in the crypto space.

Maybe the others just don't know how to do fundamentals, and maybe they only do technical analysis most of the time, so just study it if you have the chance.
No matter how good the existing fundamental analysis techniques are, when you trade on Meme coin and applying analysis like this of course it won't have any effect, techniques like this can sometimes only be implemented in Bitcoin even though they are not completely in accordance with what we have learned.

4
Cryptocurrency Trading / Re: Bitcoin Hit $70k For First Time.
« on: May 08, 2024, 10:45:22 AM »
Traders is actually making more than those who hold longer because they can sell every time there is a bearish pattern and buy again when bullish meaning they are making more profit percentage than you are holding.
I think it depends on how much the capital to use. If a trader only uses small funds, he won't get significant profits. Although he can get a profit daily but it won't be big profits. It is different with people who hold their coins, most of them probably expect for big profits. They may sell the coins at once, but it will be significant profits. As far as I know, most holders use quite big funds because it is targeted for a long term.
If we have excess capital, we will have the potential to make more money when trading, and when we lose money, we will lose more money.  The more capital you use in trading, the higher the chance of profit and loss, so every trader should have adequate knowledge about trading and then start trading. If we trade in the wrong way with too much capital, we will lose money instead of making money. Whenever we use extra capital and trade wrongly, our losses will be high and we may get frustrated many times because of these losses. So a trader can trade with a relatively small amount of money at the beginning of trading, then when he has enough knowledge about trading, he can use more capital and trade in the right way to make a profit.
It depends on how you trade even if you have small or big capital without knowledge about risk management then you will lose a lot than making a profit.
That is why you need set a trading rule for your self only risk 1% on every trade they called it 1% trading strategy or 1% risk rule meaning you shoundnt risk more than 1% of account capital on a single trade more than that you won't make any profit in trading that is why it needs proper risk management and make sure to analyze the market to place a trade on a good position where you know you can win the trade.
There is no perfect prediction in trading that is why you need to set this rule to be able to be profitable in trading.
Sometimes with this theory we can minimize losses, but you have to know that everyone's economic conditions will definitely be different, especially since many people can read strategies like this, the whales will try to be even more aggressive so that no one can withstand the risks that have been given by them. many people.

5
Cryptocurrency Trading / Re: Do not sell, Just HODL (v2)
« on: May 08, 2024, 10:03:57 AM »
1 more day to go for halving but I don't see any sign of strength in the market. 4h time frame shows us that the market is in the down trend but if you look in a weekly tf it shows us it will going to retrace. In my opinion, the halving is just a way for others to invest because they thought it will send up the price higher but in reality it's just a pull back in a 4h tf. So there is a high possibility that the price will go deeper to gather enough demand in order to boost the price higher and create another ATH.
Boom, We have been through the halving for almost a month, but it seems there is no good news that can trigger an increase in the price of bitcoin, in fact after the halving occurred the price of bitcoin tended to fall. This is a pretty bad halving history because Bitcoin has no support for another price increase.

6
Cryptocurrency Trading / Re: App for crypto indicators
« on: May 08, 2024, 10:01:03 AM »
Such apps will never give you correct signals so avoid trading by following such apps. An ordinary web developer can easily create such apps so it is better not to trust all apps so easily. If you search the Play Store, you will find many apps that claim to provide 100% accurate trading signals. They make such claims only to increase the number of users of their app but if you believe them and install their app and trade according to their instructions then you will definitely get hurt. Rely as much as you need to on your own trading skills, there is no need to follow other people's trading strategies.
Buddy I think you get the indicator apps on a wrong way, Because indicator apps doesn't gives any signal and that is why there is also no chance there they will give wrong signal. Indicator apps help with the different kinds of indicators for technical analysis, what will make you define or make a signal for the multiple cryptocurrencies. And proper Indicators are the thing that can make or gain your trading skill so it is always has a value for doing trading.
Exactly, I also think the same as you, Maybe @Litzki1990 should include a screenshot or application he uses so that we as users on this forum don't make the wrong assumptions about the indicators he uses, after all we only want to know the indicator applications he uses, nothing another.

7

Fidelity's FBTC, not GBTC, led outflows on Wednesday in what may be an alarming development for the bulls. BlackRock's IBIT had its first-ever day of outflows, with $36.9 million exiting the fund. Fidelity's FBTC led outflows, shedding $191 million, followed by GBTC, ARKB and IBIT.
Fed Chair Powell ruled out a rate hike as the next move, catalyzing a brief bounce in BTC.

Investors dumped U.S.-based spot bitcoin (BTC) exchange-traded funds (ETFs) at the fastest pace ever on Wednesday, even as Federal Reserve (Fed) chairman Jerome Powell dismissed the prospect of a rate hike.
The 11 ETFs saw a cumulative net outflow of $563.7 million, the largest since the funds began trading on January 11, extending a five-day losing streak, according to data source Farside Investors and CoinGlass. Investors have pulled out nearly $1.2 billion from the ETFs since April 24. Also notable Wednesday were the first-ever outflows from BlackRock's iShares Bitcoin Trust (IBIT), which saw $36.9 million exiting the fund.


This is taken from here: https://www.coindesk.com/markets/2024/05/02/us-bitcoin-etfs-bleed-record-563m-even-as-feds-powell-rules-out-rate-hike/

I am hoping OP will put an attribute of the material so no one will be accused of plagiarism which is important issue on this forum.
He was proven to have used the content of the article without adding the source. Of course this will result in plagiarism. It is better that when providing information from articles outside this forum, you must include the source you got. Also make sure you don't copy all the contents of the article, use your opinion about the contents of the article.

8
Bitcoin Forum / Re: BTC capitalization 1.29$ trillion
« on: May 08, 2024, 09:40:50 AM »
The showed CAP is just a number as you can see the BTC market fluacting and now the CAP is down. There is still a chance the CAP can down a little more in short Term, but in Long Term it will increase insanely.
It's true, bitcoin price movements also have an important influence on CAP. If bitcoin goes down then bitcoin CAP will also go down because many of those holding bitcoin have already left, this is the effect of there being no support which can trigger the price of bitcoin to rise again.

9
After halving we have not seen any positive things happen in the market but according to predictions the halving does not alter the price faster so as we have experienced 73k$ before halving so without doubt we will see price movement more than 73k$ after halving.
Before halving and ETF approval, I had always said and anticipated that two will derive the market!
  • US ETF
  • Halving bull run

I said, if A refuses to move the market, that B will. And fortunately A already moved the market. We shouldn't expect the effect of B almost immediately.
Does this mean there is a good opportunity for the price of bitcoin in the future? because remembering what you have said that some group A has moved markets.

10
Bitcoin Forum / Re: Roger Ver has been arrested
« on: May 08, 2024, 09:34:50 AM »
Really funny, what made me laugh the most was this quote:
Quote
Bitcoin.com remains steadfast in our mission of making money accessible to everyone, everywhere, without limits
It seems as if they are presenting themselves as they and "Bitcoin" the same thing!!!

In any case, the United States began its major war against everything related to Bitcoin and Crypto, starting with central and decentralized third-party services and ending with institutions and individuals, in a clear message that no one is outside its grip.

It is clear that they will now start prosecuting all known personalities who own Bitcoin on charges of tax evasion.
If America imposes a strict ban on the use of bitcoin like this, it will be bad news for bitcoin and most likely this will cause the price of bitcoin to collapse. I suspect that what the American government is doing is aimed at controlling the price of bitcoin.

11
I disagree with you. Simply because  when it comes to BTC there is no decentralization.
I'm actually confused by your statement that Bitcoin is not decentralized? Isn't the main goal of bitcoin the creation of a decentralized digital currency? So far if BTC is not decentralized then my knowledge is wrong and the whitepaper I read from Satoshi Nakamoto has no meaning.

12
seem like they are up to compete SOL or MATIC and all the the tokens there are going to be released by the using this BUIDL. i could be wrong but this is either a launchpad or an L2 project.
I don't think that's the case based on the description they used shared in the article above. It sounds like this is just another index fund disguised as a token. Basically, anyone who buys the tokens can enjoy passive income from multiple projects that Blackrock invested in, but the token's value is backed by nothing. They claim the target price is $1, basically like a stablecoin but they will continuously mint new tokens to distribute the passive income. If you want to accumulate alts, this is not the product for you, CMIIW.
How long will Blackrock provide passive income? I think Blackrock will consider this because there is a possibility that they are giving away too much passive income to their users. Some time ago there was also a rumor with HBAR which said they had support from Blackrock but in fact it was fake and just a marketing strategy to increase the price of HBAR in the market.

13
Bitcoin is easier to get ETF approval, because bitcoin is the King of crypto currencies, more popular and safer than ethereum. The SEC needs time to review Ethereum's ETF proposal, so just wait. I am also waiting for good news from ETF
Not only as king but because of other factors such as the bitcoin supply factor, which is certain that it cannot be increased or decreased, only 21 million bitcoins. After that, many platforms accepted payments using Bitcoin. This is how Bitcoin finally received ETF approval.
Agree with what you say, so far Bitcoin has very high demand and many people want to have bitcoin because they realize that bitcoin is very good as a long-term investment.

14
Ethereum Forum / Re: SEC May Deny Spot Ethereum ETF In May
« on: May 08, 2024, 09:03:36 AM »
1. Do you think that eventually approval for Ethereum ETF will happen in either in 2024 the earliest and 2025 the most?
This time, many parties are starting to doubt whether the Ethereum ETF will be defunded this month. Yes, however, no one can force this ETF to be approved. Indeed, in fact the SEC is still silent about the actual progress and various possibilities related to this Ethereum ETF approval. However, some crypto insiders speculate that it is likely that it will be rejected. But yes, I don't know whether it's correct or true, it needs a little drama first so that the market will increase even more because it is approaching the bull run.
Unfortunately there is still no serious response from the SEC, which shows that Ethereum still has not fixed the problems found by the SEC. Ethereum recently seems to not care about its community anymore because maybe they already have a high selling price and don't really want to provide significant improvements.

15
Ethereum Forum / Re: Eth hold or Trade?
« on: May 08, 2024, 08:56:29 AM »
There must be enough time for us to complete any task. Trading requires a lot of market research and regular monitoring of market charts but if we don't have that much time then I say we should stay away from trading. Those who don't have enough time can invest because investing doesn't require enough time but those who have time can manage their business as well as invest because if they have time they can do both at the same time.
Exactly, investing in coins has the potential to be the most appropriate way to enjoy the benefits of cryptocurrency. As long as the coins we buy are good, like Bitcoin, BNB, Ethereum and Solana, we will still make a profit.

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