Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
There are several factors why people do not daytrade :
1) They feel safer to have their coins in the coldstorage and not on the exchange - nothing wrong with that
2) They understand that trading is a serious deal, that you cant just jump in right into it and make money - nothing wrong with that
3) They have other job and its more profitable/comfortable for them to just focus on their job and buy more coins when the price is right - nothing wrong with that
4) They feel that in the best case trading is a zero sum game in which they have no edge and worst case pure gambling (with a preference for the latter theory)
5) You have to pay taxes the first time you sell. 25% in US if you held BTC under 1 year. 15% for more then a year. This assume you have net capital gain of course. Otherwise day trading is less of a problem.