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Messages - Dr.Bitcoin_Strange

Pages: [1] 2 3 ... 63
1
Cryptocurrency Trading / Re: Don't be in a Rush
« on: Today at 10:40:39 AM »
Trading is not a get rich quick scheme. Trading can even be a get poorer scheme for any body who doesn't have the knowledge of trading and just jump straight up into trading. Even those who have years of experience in trading usually experience losses and sometimes their loss is usually significant. So, if experienced traders can face losses, that means newbies will even loss more than those who more experienced than them. Trading is not something that anyone should forcefully rush into without first learning how to trade.

I think trading should be considered as a course, just like other programming courses that we have. It certainly requires a step-by-step approach to mastering all the fundamentals that might be necessary. Due to greed and ignorance, newcomers choose to skip these fundamentals, or sometimes take a few lessons before jumping into it. They fail to realize that the activities of the market are far beyond their level, which would certainly put their investment at risk. There are other ways to make money, for which trading should not be an option for those with less interest. If someone happens to have interest, then he/she needs to follow the right path by learning what's needed.
I believe there are online and offline basic and intermediate trading courses that aids beginners and traders to study and master the art of trading. Trading is an art and have tools and materials that helps you master the art but the problem is that most beginners come into the trading industry with a very big misconception of what trading is all about and then they fail to first acquire the necessary information and knowledge required, and they end up gambling with their finance and when they incur losses, they leave with the impression that crypto trading is scam.

2
My country made this quite easy to be fair. Paypal is banned in Turkey, so you can't buy it that way, but it is allowed to put your money into Binance or any other local places like Paribu etc easily. Meaning that you just wire your money there, and it gets there, so the exchange account gets credited with that much fiat that you sent, and then you can buy whatever you want. For all the nations that have trouble with payment services, I suggest exchanges that directly deals with it, and if there is none that exists today, then it is quite clear that you could definitely make that work and make one yourself.
It's good to know that your country allows buying directly from exchanges via wire and bank transfers, but you'd wanna know that it's not every country that allows this medium, some countries don't even allow their local banks to trade with crypto exchanges and if caught in the act would attract penalties such as placing a ban on your bank account.
In situations like this, it's advisable to consider using the P2P platforms or exchange P2P where you can just transact with people who are willing to buy and sell via escrow services and other methods, those could prove to be quite convenient and safe too.

3
Though trading and gambling are two different things, in my opinion those who are not well versed in trading related matters, there is no difference between trading and gambling. A trader needs to acquire various skills for trading. But gambling does not require much skill. Because gambling is largely dependent on luck. A gambler can gain a lot from gambling if he gambles with little knowledge of gambling but there is no chance of making quick money in favor of a trader.
The two concepts are indeed different but yet have something in common which is the involvement of risk, how successful you are in both of them depends on your risk management and tolerance.
Gambling is mostly more about luck and chances and less skill and experience while trading requires more of skill and experience and less luck and chance, to be a successful trader, youll need all the knowledge, skill and experience about thr market's dynamics in other to help you make logical decisions while trading.

4
Yes, I think they just dream that the price of bitcoin will fall to $20K, in fact according to my predictions it will be difficult for the price of bitcoin to fall below $50K, because miners will lose money if the price of bitcoin is below $50k during the halving, because their reward is cut in half. and whales will not let the price of bitcoin fall below $50K
If people expect Bitcoin price drops to $20k in the near future, it is surely impossible. There is no way that Bitcoin price will drop again at that price. The current price is almost $70k again, it raises to $67k today. Instead of dropping to $20k, the price looks like to be pumped again above $70k. We know that Bitcoin can freefall again, it is possible to drop below $50k again. But it should be in the next bearish season, it won't happen in the current bullish season.
We are really not experiencing a DIP in the market, so it's quite impossible for bitcoin to go as low as $20k, the market is just undergoing a recuperation and a correction, that's why the market is looking bearish, but some people are actually mistaking it to be a DIP which isn't true.
After the recuperation period, we are sure that bitcoin will experience another Bull run and break through its current ATH and establishing a new ATH.

5
I think all trading has risks, even trading in our own way also has risks that can make our assets disappear, so never be afraid of the risks, continue to face everything in the right way and remain alert to the situation in the market. Don't be easily influenced by price increases that occur temporarily because it could just be a trap.

All trade has the risk but we should not take this risk without knowledge and if we acquire skills well, have money for trading, have tolerance for every position and are efficient of using a specific strategy for specific types of coin then we should take the risk.
And it's always advisable never to risk more than you can afford to lose because that's what mainly brings the frustration after losses.
Certainly the market is highly volatile and unpredictable and have the potentiality of losses, the losses will always come, which is why it's important to manage your risks and work on one's risk tolerance in order to avoid losing too much.
It's true that no risk no reward but that doesn't mean one should go ahead to risk what he can't afford to lose.
This is mostly the problem with investors, due to promises of high returns and profits, they end up risking way too much and when things doesn't go as planned, they become frustrated.

6
Cryptocurrency Trading / Re: Don't be in a Rush
« on: May 17, 2024, 09:32:30 PM »
.

Trading does not always depend on us because sometimes our selection is right and also we buy at the right price but the market does not co-operate so we lose money therefore don't think that we lose in trading due to our mistakes always.
Yeah. Trading is more of a psychological and mental work and mistakes can actually occur and lead to losses, but that doesn't mean that the only thing that causes losses are mistakes, because one cannot always accurately predict the market, things can often go sideways and result to losses even when you apply extreme caution and carefulness in implementing our trading strategies.

7
Cryptocurrency Trading / Re: Fear or greed
« on: May 17, 2024, 09:16:43 PM »
There are some investors whose greed works so much that if they invest in anything they start dreaming they will get high profits from it. But if that asset comes from a scam project, greedy investors expect something good from that investment. But if they could control their greed then they would sell it after getting a small return. Such images are often seen on investment platforms. Where greedy investors lose their wealth.
Greed can also make an investor to risk investing more than they can afford to lose and ignoring one of the primary rules of investment, which is never to invest more than you can afford to lose.
Because of greedy, they end up investing way too much and more than they can afford to lose due to the high returns and profits promised, and when you ask them, they'll tell you no risk no reward.
Although sometimes the risk down actually pay off and most times it can ruin one's financial life totally and send you back to square 1.

8
In the past, many countries banned Bitcoin, but they used Blockchain technology for the benefit of the country. Finally, over time they realized that the existence of Blockchain technology was very helpful, finally over time they accepted several crypto activities starting from trading and investment, then they took advantage by applying tax on income from crypto. 
They are indeed smart, but the important thing is that this cryptocurrency can continue to grow rapidly.
The war was actually not against Blockchain Technology but against the product of Blockchain Tech, which is Bitcoin and other cryptocurrencies, asides cryptocurrency, Blockchain Technology has been quite useful in other areas hence the reason why it was embraced.
The reason that the government and other financial authorities war against cryptocurrency was due to its decentralised nature, and the fact that financial authorities has been removed from their hands and placed in the hands of the citizens.
The government are used to being in power over every areas that concerns the country, especially financially, so depriving them of that absolute power wasn't funny at all.

9
Once the majority of the bitcoins in circulation enters the hands of the Asset managers, bitcoin and the entire crypto market will become just as normal as the forex market, stock market, gold market and the rest, and, yeah, this will happen sooner than any of us think, and this coming bull run may be the very last for anyone wanting to make significant gains from crypto to do so.
What if Bitcoin halving doesn't really bring something to the table but is the reason why we have other run? Bitcoin is becoming a financial asset to many institutional investors and they are attracted to it because of the gains but with people like them here, what we do have as usual meal in every cycle might be difficult to see.

However, I think altcoins in general will be the next thing to hunt, look at how meme coins were largely demanded, even some of the crypto YouTube channels I lookup to that doesn't like shitcoins all of a sudden begin to talk about meme coins and that's because of the profit.
What is currently happening is the ETF effect, It is still too early for the halving effect to occur because it will take months to reach its maximum. In fact, it is not impossible that there will actually be a correction first. In fact it will be good, which can make many investors compete to buy and this will be a boost for bitcoin to be able to improve. So stay patient, everything definitely needs to be processed and not instant.
A lot of investors are actually in panic right now, investors who do not really understand the bitcoin market dynamics.
Many investors believe that 1 month is more than enough for the effect of the halving to swing in, and since that's not really the case as the market has just hit a correction stage just as you've rightly stated, they're now in panic and afraid of the market outcome.

Just as you've said, the market is merely undergoing a correction phase, which is actually healthy and necessary because it'll allow consolidation of gains and also lead to possible price increase.

10
I think it will all be in vain if there are lessons, most likely lessons about gambling problems will make young people more curious and find out how to play and everything related to gambling, without them being given education they will also know how to play and of course they will know the risks if they lose, when they first lose,
Would you rather let them go figure it out themselves?
If gambling is legal and common in a society, whether you teach children or not, they'll still habe the urge to be part of it and find out what it's all about.
In a situation like that, do you still think it'll be a waste of time to properly educate children in school and warn them about the dangers of gambling and possible ways to avoid the dangers and how to live a healthy gambling lifestyle?

11
Gambling discussion / Re: How did the gambling life Start?
« on: May 15, 2024, 02:42:57 PM »
My gambling life is too short. Some days ago i started gambling. I am mainly cricket lover. One day i saw my family betting on cricket ipl. I saw he is playing through 1xbet app. And i tell him to open an account for me. And he creat a account for me and from then i am betting regularly.
Now some times i paly casino. Most of time i loss but some times i win.
The earliest days of a gambler can be really interesting and thrilling, until you start experiencing severe losses. That's why you should always be cautious when you gamble and learn how to manage and be in control of your emotions too. From what you said, you started gambling because of your love for the game and the fun you derived from it, I'll advice you to always keep it that way, focus more on the fun and thrill you derive from your favourite games and not how much you stand to gain from the bets, and whenever you lose a bet, just picture it as normal and always avoid chasing losses if you want to maintain a healthy gambler lifestyle.

12
Gambling discussion / Re: What inspired you to gamble?
« on: May 15, 2024, 02:37:35 PM »
Gambling is a fun. It is a sort of entertainment and a good way to pass your free time. I enjoy gambling in my free time. By the way didn't get inspired by anything. Just watched a few online ads and started gambling.

We are bound to lose some money if our mindset on gambling is just for fun because we are going to lose focus on what we are doing, i mean if you are gambling, we should be attentive on it so that we have the chance on winning, just my thought.
It's true that we have to make an effort to try to win at gambling, but we have to know that not everyone can make a lot of money at gambling, losing money is common. If we have a chance to win then try, we will never know as long as we never trying to place a bet.
Rightly said.
The chances of losing in gambling is way higher than that of winning, and this is the more reason people shouldn't be more focused on winning because this is what often causes people to start chasing after winnings and losses and then leads to addiction.
People should always realise that the odds are always against the players and I'm favour of the house so expecting to win all the time would only lead to more disaster.

13
Gambling discussion / Re: Is Gambling for All?
« on: May 15, 2024, 02:24:08 PM »
I do not consider myself an expert in poker, I know that there are people who have a gift for this, but personally I am not a guru, but I have read many strategies, especially what is on pokerstars.net, There are many guides on how to play, it's actually something that I really like about that platform , in fact I haven't played there for years, since everything related to crypto came out because things have been different, I have dedicated myself more to the games of crypto casino than the fiat ones, and more in pokerstar because there in my case it works with paypal and that is something that seems to me to have a lot of fee to pay.
So what you're saying is that crypto casinos are a lot more better than the fiat ones?
I'd really love to hear your reasons to why you believe so and what kind of games asides poker do you mostly play, because for me whether crypto or fiat casinos, as long as the odds are cool and mouthwatering, then I'm good to go, well of course it has to be a reputable one with nice reviews too.

14
Gambling discussion / Re: Is it right for a lady to gamble ?
« on: May 15, 2024, 02:18:27 PM »
Women are soft minded. And gambling is very risky and when anyone loss in gambling then some times he/she will be mentality chocked. And it will be import on his soft mind. So i think in gambling for lady gambler not suitable. Family maintenance and children care and hassle free job is perfect for a lady. But i Don't doing underestimated any lady. But whixh is suitable foe lady i am telling that.
It might interest you to know that most ladies are mentally and psychologically fit than men, and they can easily adapt to situations too. And when it comes to managing losses and emotions, women can control manage their emotions a lot more than men. Men are known for their physical strength while women on the other hand are known for their psychological and mental strength and like we already know, gambling isn't about physical strength but more of psychological and mental strength so I think you should make another assessment before you conclude that women are not fit to gamble.

15
Yeah exactly. Poor people do gambling more than rich people though there are gambling addicts that were from rich family as well but there were only few of them because majority comes from poor people and one more thing money is not a problem for most rich gamblers since they do have stable source. Based on my observation here in my place that is what the reality is. Regardless of financial status both can gamble even after a huge win.
While it's true that money is not a problem for rich gamblers, you should also remember that there is no limit to how much a man can lose in gambling if he doesn't control his emotions, and considering the fact that rich people has lots of money, then that means they have even more to lose than the poor because they have a steady flow of income, that's why it's possible for gambling to cripple even a rich man financially.
Even if a rich person has a lot of money, his money is not infinite at all, that is, at some point, his money may run out. Since money can run out, it doesn't take long for a rich person to become poor. If Rich Duari thinks that he has enough money and that gambling and losing money won't have a bad financial impact on his life, then I think he's wrong. If he is constantly losing money by gambling, then at some point he will surely run out of money and then he will realize that he must have had the wrong idea.
Most definitely.
There's no limit to how much a person can lose in gambling, no matter how much a rich man has, if he chooses to gamble out of control then he is surely paving his way to poverty because he'll surely lose all his wealth if he doesn't stop and retrace his steps.
That's why I always say that a rich man who is addicted or struggling with addiction has even more to lose than a poor addicted gambler, because the worse that can happen to a poor gambler is to remain poor but that's not the case with rich gamblers.

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