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Showing 20 of 230 results by burnchan
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Topic
Board Bitcoin Discussion
Re: What you should learnt during this bear seasons.
by
burnchan
on 12/08/2018, 23:42:31 UTC
Crypto will bounce back no doubts. There is always period of boom and periods of depression for healthy balance.

Even in normal economics...There have been periods of boom and recessions. But things will return back soon. The question is what can you make out of the situation? What should you do and not do?

What you should be doing now is investing or buying and having a mountain of patience for the boom period.

What you shouldn't be doing now is selling. Sometimes things like this happens for good reason. At least if not for anything, it affords us the wisdom to appreciate crypto and be prepared to take our profits and run away...

I can't imagine seeing 50% in crypto and not selling anymore especially with very heavy capital invested.

I agree with you, and I regret every time I spend something unnecessary when I was having my own money last few months and now I am awfully having no money at all and waoting for the thing to act on its and waiting for a mirsculuous gift ftrom above to have money. I think what I have learned was dont be too happy and comfortable that you can have money on a short period of time since Bitcoin is unpredictable.

That is why it is important to spend what is necessary even if we are abundant with resources. We sometimes get overwhelmed of the blessings that we acquire which we end up spend it. However, we learn and be a better person every time we commit mistakes. For now let us be patient because sooner the market will rise again. 

 
Post
Topic
Board Economics
Re: Newbies panic & Old timers smile, when the Bitcoin price take a dip.
by
burnchan
on 12/08/2018, 21:47:04 UTC
This is a good advise mate. People who wants profit should buy Bitcoin during this time. Since the market is also low.  It is that  because best time of learning and understanding further crypto.
Post
Topic
Board Bitcoin Discussion
Re: Will bitcoin in Southeast Asia be legal?
by
burnchan
on 12/08/2018, 14:18:12 UTC
Because to my knowledge there are several countries in southeast asia that have not legalized bitcoin. And what is our endeavor for bitcoin in southeast asia to be legal like any other country (which has legalized bitcoin).
Will the impact be positive or negative?

Crypto friendly countries would surely declare its legalization of crypto.  However,  we are not sure yet if all countries  im Southeast asia would adopt crypto.  We cannot blame government who doesn't want change. Let us all hope for the best with crypto adoption
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Topic
Board Economics
Re: whether insurance can solve economic problems
by
burnchan
on 12/08/2018, 11:34:31 UTC
Does your country have insurance and whether is it useful to overcome your economic problems,

I see in some countries only people who have enough economics who have insurance
and those who are poor do not have insurance.
is this fair.

Getting an insurance is one strategy to be financially stable. Yes,  it is costly to have an insurance where an ordinary citizen in my country cannot afford to get one. It will make a great help to ones finances in case of emergency but this depends on the current financial status of an individual.  But I am hoping that this will be realized by people who are capable of having insurance.
Post
Topic
Board Economics
Re: How Long Crypto market will take to recover?
by
burnchan
on 11/08/2018, 01:23:22 UTC
We all know this year is one of the worst year of crypto, market is dead and new investors are in fear to enter,  My portfolio is 75% down as compare to January. How long this market will take time to recover?. I am stacked in holding.

I believe it will take months for the market to recover. I think we should help each other to stay firm with our faith in crypto. this will help in building confidence with both the current and future investors. I believe marketing crypto and eliminating scams would help crypto market to rise again.  This would be a challenging move especially the scam issues but I think this is the best way to reduce hesitations on the future investors.

Post
Topic
Board Bitcoin Discussion
Re: Is the world ready for cryptocurrency?
by
burnchan
on 11/08/2018, 00:30:48 UTC
Although there are a few countries who uses bitcoins and other cryptocurrencies now, I cannot help but wonder if the world is truly ready for this digital currency? It will certainly be hard to replace all currencies in the world but it could happen in a decade or so, perhaps even less? Still the question is, is the world ready? I think if this happens it might be one of the biggest changes that will happen worldwide.

I believe some countries are ready to digital currency but others have still hesitant. For now, there are resistance because it is on its early phase of mass adoption. Adjustments are needed and system improvements must be implemented. This is to address some concerns especially the fraud cases.

 
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Topic
Board Altcoin Discussion
Re: What are your views on cryptocurrencies
by
burnchan
on 10/08/2018, 10:56:49 UTC
How do you view the current condition of coin prices, will it have an impact on the sustainability of cryptocurrencies?
The market is indeed low right now. However, people who wants to invest in crypto should grab this opportunity. We don’t need to invest everything because of the risk involve. Just invest what you can afford to lose. I am optimistic that market will recover sooner.
Post
Topic
Board Economics
Re: Whether Getting Married At a Young Age Can Lead To Poverty And Make Poor Economy
by
burnchan
on 08/08/2018, 10:48:35 UTC
I see in my country many marriages at a young age and don't think about the economy in the future,
I know getting married at a young age is very beautiful,
but if the economy is insufficient, maybe should think again not to get married at a young age,
and I think from that marriage it can give birth to children and increase the population of the earth, and maybe in a few years the earth will be full of humans and surely there will be many other crimes to survive on this earth,

Is there a solution, to overcome this impending disaster


I think we can marry at a younger age if we are financially capable of supporting a family. This only means that we can financially manage ourselves and our future family, then, why not marry regardless of age. People who marry and have a family at a young age who are not well prepared will surely have a difficulty in providing the needs (education, clothing, etc.). this is why the a government needs to have good quality education so that the new generation will be matured, responsible and competitive in the industry or with their specialized field. That will sooner lead to a better economy. 
Post
Topic
Board Bitcoin Discussion
Re: Bitcoin situation
by
burnchan
on 03/08/2018, 11:08:26 UTC
90% of those who are talking about death of bitcoin are the same people who are trying so hard to buy bitcoin when it drops a small 5% so that they can accumulate a tiny bit more.
The rest 10% are the newbies who fall for the 90% FUD and are scared of the situation.


There will always be haters. They will find a way to pull down Bitcoin.  This only shows that Bitcoin is already on top.  True believers will not be affected with news spread by these haters.
Post
Topic
Board Economics
Re: Government regulation on cryptocurrency, GOOD or BAD?
by
burnchan
on 03/08/2018, 08:42:21 UTC
I think government regulations is good for cryptocurrency. It only implies that if there is regulations, there is recognition on the part of the government.

In that sense, crypto enthusiasts feel more secured and confident with their investment.

I think it will be good for crypto if a government regulates it. Aside from giving an impression of acceptance, regulations would help minimize fraud incidents. Cyber criminals should also be caught. Lastly, a certain crypto business will also draw investors because it has been accredited by the government.
Post
Topic
Board Bitcoin Discussion
Re: Bitcoin investments?
by
burnchan
on 02/08/2018, 23:56:39 UTC
When big boys enter the picture, the rule has changed. Bitcoin then becoming a fprm of investments, and no longer the original vision of satoshi, iguess its really inevitable, specially during the 2016-2017 when it peaked at around$20,000. It become a speculative asset, and others tske that as a opportunity, trying to make quick bucks, or even putting thier whole life-savings hoping to become rich.


It is inevitable because people showed a good potential when engaging in Bitcoin investment. However, investors must never forget the risk involved because of its volatility. That is why bitcoin investors should be knowledgeable, mentally and emotionally prepared.
Post
Topic
Board Bitcoin Discussion
Re: BITCOIN won't die, period.
by
burnchan
on 02/08/2018, 02:28:18 UTC
Yes, I agree with you on this. Bitcoin is the king crypto and certainly will not die. They make such comments seeing the price fall but now they can see that the price has started to recover proving them wrong. Like you I will also request all not to post such negative thoughts and others should not agree on such negativity too. Oppose it and show your position against it.

Exactly, bitcoin is one of the most popular in cryptocurrency and in fact bitcoin is in top of all coin and I think no one coin can surpass bitcoin.And as of now bitcoin really doing very well and its impossible that bitcoin will die..

The lifeline of Bitcoin depends on us. So, if people will continue to use it and look for it, it will not die. We don’t need to dwell on the speculation of others regarding the death of Bitcoin because of the red market days. Their intention might be to for some to lose interest on it.

 
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Topic
Board Altcoin Discussion
Re: Cryptocurrency is gradually spreading
by
burnchan
on 01/08/2018, 08:37:57 UTC
I think so many people are now getting to know about this great technology. Crypto is gradually being know by almost everyone. Some are beginning to know the importance of crypto. The challenge they may have is how to benefit from it.
cryptocurrency flags is one that is a like currency but in the digital platform. I think we should all be eager to educate one another in a sense that it should be able to protect those scammers from victimizing crypto newbies.
Cryptocurrency is a good start to investing and can yield a lot of gains.

Encouraging people to learn and study more about crypto is basically the best thing we can do to lessen the scam victims. These scammers do grab the hype of crypto. They are taking advantage that there a lot of newbies who engaged and would want to earn and invest in crypto. Crypto community is increasing each day because people are getting curious of Bitcoin. And those who are new to crypto is still vulnerable to scammers.

Post
Topic
Board Speculation
Re: Why Bitcoin May Soon Be Worth Nothing
by
burnchan
on 30/07/2018, 11:13:14 UTC
This article has about the same amount of substance to back up his opinion as the ones on many sites that claim that BTC will be worth and goes to show you that there are those on both sides of the BTC value that just espouse speculative value to espouse speculative value.

Why bitcoin may soon be worth nothing:

I thought we’d finally get rid of bitcoin. But the fake “currency,” which I like to call bitcon, just won’t fade away.

Bitcoin’s price rallied to over $6,600 yesterday, but it had been well under $6,000 last week. Even at $6,600, bitcoin is still worth 70 percent less than it was at the beginning of the year.

I use the term “worth” cautiously because bitcoin is really worth nothing, since it’s backed by nothing or no one. It’s a confidence game that has value only because people are convincing other people that it’s worth something.

Got it! Ponzi scheme. Confidence game. Fraud.

Anyway, bitcoin is headed for a value of zilch. It’s only a matter of when.

Source: https://nypost.com/2018/07/04/why-bitcoin-may-be-soon-worth-nothing/
It would be easy to criticize something without knowing. Writing against something needs to have a solid data to convince the audience. How can it be worth nothing were in fact it highly in demand? It will be worth nothing if nobody believes in the technology. Fake news is also rampant these days.  So it is important to read from a reliable source.
Post
Topic
Board Bitcoin Discussion
Re: Bitcoin or Property? What might be the best investment?
by
burnchan
on 29/07/2018, 23:33:06 UTC
Having properties is of high priority. Fixed assets tend to appreciate in time which is obviously beneficial to the owner. But investing in Bitcoin or crypto as a whole is not bad either. If we are smart and skillful enough, we can make a fortune with it, as many have already experienced. For me, I'll go for both since it is manageable. 

Acquiring fix asset such as land or house and lot is indeed a top priority. Because first, it is more safer investment and in my country, the price of land increases each year. So if you are not able to grab the opportunity of owning one at an earlier time, then probably you cannot afford sooner if your income stays the same. In my country people grabbed the opportunity of loaning a house and a lot which can be pay long term at a lower price. The price would be indeed double since it is a long-term payment. since you have already a fixed asset, you can already start to save for your crypto investment plan. By the time, you have enough funds due to crypto investment, you can pay the full amount for your housing loan.

 
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Topic
Board Economics
Re: Why lot of countries do not allow to use Crpto?
by
burnchan
on 28/07/2018, 12:54:34 UTC
Lot of countries do not allow to use crypto currencies and they discourage using them. However as far as I feel, trading with crypto is not that harmful for the economy of the country. As an example, if a person has Eth and someone from another country needs to buy Eth, that buyer needs to pay the seller in terms of dollars. Then that seller needs to convert that Dollars to his native currency which means it creates a the demand for the native currency and increase the value of the currency. May be the government is unable to add a tax on such transactions but it is beneficial for the currency used in seller's country.
What do you think about that?

The reasons why other countries do not accept crypto is the issue of money laundering and the use of crypto to illegal activities. In my point of view, these stuffs also exist in fiat,  so I think there has to be done aside from restricting the use of crypto.
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Topic
Board Altcoin Discussion
Re: Spreading Wealth to poor areas through bounties.
by
burnchan
on 28/07/2018, 02:42:35 UTC
Someone is teaching women in Afghanistan how to collect bounties, I believe it's a wonderful thing and  proof of the wealth that can be distributed to people and in ways we hadn't thought possible. I've been thinking about doing something similar and adding airdrops were I live, Medellin, Colombia, specifically for people who don't have much, I'm starting a run trial with someone form the area, and wanted to see if any one had any pointers, or ideas, so far the limitations I've found are language (trying to use google translate), tech availability (looking for close by libraries, and looking to set up as much as I can to be done using a simple smartphone).
Any input would be much appreciated.
This is a good way of extending our help to others. Sharing our knowledge or Teaching them to make a living is much beneficial than only giving them what they need. Doing bounties can be a tool to achieve that. Moreover, it is a good way of introducing to others the Crypto world.


Post
Topic
Board Speculation
Re: If Bitcoin's price depresses you. This is not a speculation topic
by
burnchan
on 27/07/2018, 15:36:15 UTC
I appreciate the chart mate.  Although there are only certain level of  accuracy in predictions. Price depends on the demand on the market which might change along time.  However,  let us continue to keep our faith.  No one knows,  this trend might happened in the succeeding year. Let us us hope for the best.
Post
Topic
Board Altcoin Discussion
Re: New ICO scam detected by police in Vietnam. Vncoins
by
burnchan
on 27/07/2018, 03:33:24 UTC
New ICO scam detected by police in Vietnam. Vncoins
Vncoin ( website already collapsed, only left FB page: https://www.facebook.com/VNcoinsvn-745070342354563/) was officially revealed SCAM

Authorities have arrested Nguyen Huu Tien (34 years old, Chairman of VNCOINS Joint Stock Company), Pham Viet Son (60 years old), and Nguyen Hong Quan (41 years old, in charge of information technology of VNCOINS) to investigate fraudulent misappropriation of property.

On July 17, the investigating policies simultaneously searched six places where are the workplace of the defendants.

According to the case, chairman of OTCMAX Joint Stock Company based in Ho Chi Minh City from August 2016. One year later, Tien changed its name to VNCOINS Joint Stock Company. Although there were no business activities, no investment in any project cooperation but Tien held many seminars calling for investors to cooperate in implementing large projects in Thanh Hoa or even Long Thanh airport …

When investors contributing capital, Tien’s company signs an agreement, pledging to pay a profit under the investment package, for a continuous 90-day period at 1.8% per day. However, the actual commission and profit that the investor is entitled to is taken from their own capital contributions and from the previous investors

OTCMAX JSC of Tien signed with over 6,000 investors, collected more than 200 billion VNDs = 9 millions $

When investors do not receive a contracted profit came to work and Proposed two options to “postponed.” Present in both options, Progress is not implemented because the information given is fake.

Sources: cryptoinsidervn.wordpress.com/2018/07/21/cong-ty-da-cap-vn-coin-lua-hon-6-000-nha-dau-tu-bi-bat/
This is both good and bad news. Bad news because another scam ICO and Good news because it was caught by the Vietnam’s police. People tend to abuse because of too much freedom.  What we need to do right now is to be vigilant especially in investment because people use crypto as their means to execute fraud acts.
Post
Topic
Board Bitcoin Discussion
Re: Safety can not come to the bitcoin investor
by
burnchan
on 26/07/2018, 11:10:11 UTC
Safety can not come to the bitcoin investor. Nothing and absolutely safe. Everything has its own risk, its danger. No one knows what tomorrow will be like. Only know that if we do nothing then there is no danger nor money
riskrisk


All types of investments have an associated degree of risk. Since we wanted to make a profit we need to take a certain level of risk.  And we can chose what type of investment we should get into.  The higher the potential gain,  the higher the risk where crypto belongs.