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Showing 18 of 18 results by o_freeman
Bitcoin is truly a treasure for someone who achieved even a single piece of it. Its value transcends that of a precious gold dust, proven that most people spend most of their time and effort to gain one bitcoin atleast. One can say that a bitcoin can replace everything; from salary, currency and that of a treasure. A country with its citizen having much reserve of bitcoins can be a powerful economic advantage.
Can we consider bitcoins as national treasure of a country comsidering its economic significance?
Can we consider bitcoins as national treasure of a country comsidering its economic significance?
Bitcoin doesn't belong to any one nation so it can never be a "national" treasure.
Right. It's an INTERnational treasure because its price doesn't vary by country. Its price is all the same around the globe. But it IS a treasure and it will soon change a lot in this world
Sure. International or Global.
But I believe, despite rumors, many governments are interested in adopting BTC because it might help them in many ways, so they might see it as treasure, but with global turnover and international prices it is still more international than national, of course.
That's why countries can't own it for themselves. They'll want to make it their own "national treasure" but it cannot function in that way. It is an international treasure for all who want to participate, regardless of background or financial standing. There are virtually no boundaries for entry and anyone can invest whatever they want. This is true democracy in money, where the asset is decentralized and uncontrolled. It allows us, the people, to take it and use it as we please, without having to deal with fees or limitations.
Bitcoin is truly a treasure for someone who achieved even a single piece of it. Its value transcends that of a precious gold dust, proven that most people spend most of their time and effort to gain one bitcoin atleast. One can say that a bitcoin can replace everything; from salary, currency and that of a treasure. A country with its citizen having much reserve of bitcoins can be a powerful economic advantage.
Can we consider bitcoins as national treasure of a country comsidering its economic significance?
Can we consider bitcoins as national treasure of a country comsidering its economic significance?
Think of the organizational issues. It's just not a pragmatic solution for governments. They wouldn't want to have the whole country functioning on something that is out of their hands. They like to promote the illusion of democracy and free choice when in reality they seem to believe that they need to be in power to guide the poor.
A centralized system of governance cannot run on a decentralized monetary system. They would feel powerless. Only when we can achieve decentralized systems of governance through live democracy would something like this work
I know a lot of people that have been opening short positions every time we crossed the $6000 line, they thought we were going to re-test $4900 long term resistance line, and were so smug about their shorts.
Each time they have been rekt by these pumps that happen when we cross $6000, and just like pigs, shorts get slaughtered. It's really sad to see, but hilarious at the same time I guess.
How many times do we have to go through this to see that shorting Bitcoin, specially at $6k range, is extremely dangerous? This could be the definitive bottom after all, and we'll just stay there until bears run out of steam, then race to ATH begins again.
Each time they have been rekt by these pumps that happen when we cross $6000, and just like pigs, shorts get slaughtered. It's really sad to see, but hilarious at the same time I guess.
How many times do we have to go through this to see that shorting Bitcoin, specially at $6k range, is extremely dangerous? This could be the definitive bottom after all, and we'll just stay there until bears run out of steam, then race to ATH begins again.
Markets are fickle bitches. Sometimes they cross that "tipping point" just to taunt people who think that line is the end of everything. Longs close, shorts open, everyone switches positions and then... surprise! It's back on the other side again! A good old sweep and rinse maneuver just cleaned out half of the retail traders and suddenly there's a lot more room for us.
This is why it's impossible to say "The end is nigh! 6k has been crossed!" It could be crossed 7 times before going back up for all we know.
The Bitcoin pirce trend has always been clamped within $5500-6000. The spike pricing $7000 was too synthetic since an increase if 1k in a day was a bit sketchy. Will we ever see pricing skyrocketing again? What are your thoughts?
"always been clamped within $5500-6000"? When? It dipped and touched 5800 today, but that's it. In June it briefly floated between these two lines for a day or two. And in Jan we saw a quick kiss of 5900.
Exaggerating about the price doesn't help with trading psychology. If you really need to follow it that closely, be precise. It will probably be more beneficial for you not to follow it like that though, because you need to think more about your long term goals. If you want to do some scalping and short term trading, maybe forex might be better.
Blockchain is called a technology that will change us just as the Internet has changed it. blockchain ideologists claim that it is about to lead humanity to a ultra-modern world where there is no theft and deception. how will this happen? Will the blockchain become the Savior of our world economy or its killer? If the blockchain is tightly integrated into our lives, the unemployment rate will increase, and on a huge scale. And this can lead to a large percentage of poverty among the population. Will the world economy sustain such a large number of unemployed, or will society be further divided into social classes.
Ok, look. When technologies replace jobs, it doesn't mean that we're left in poverty. Sure, it's hard to keep up, I can certainly agree with that. But it allows us more time to innovate and come up with new solutions like... blockchain! So now that we've established the technology, more schools are going to be training the bright young children of our future to work with it, so they won't have to worry about their jobs being stolen. It's a slow rotational period, but inevitably, the lower level gets cut out when a higher level is made and everyone moves up a step.
This is clever. I was just thinking about a tool that measured the number posts around here to see if it could give a figure for fear vs. greed. The only issue with this is you'd need to factor for tense, as in past/present/future oriented posts. And make sure you get your keywords right.
I don't trust Tom Lee and I don't trust that "Misery Index" thing.I am comfortable with the current bitcoin price.If you are an investor and you are frustrated or scared,that's your problem.It's silly that the emotions of the crowd drive the market up or down.I wish we could have more ways to limit the access of emotional/low skills traders to the market. 
Yeah, that's why this post is somewhat ironic. Misery is subjective and it only matters to those who put themselves through suffering. If you don't allow yourself to be bothered by something, you won't be hurt.
It is not always "Bitcoin" itself that has the popularity and is valuable. Check every coins that helps to balance the stability of 6k-8k price fluctuation of bitcoin.
It is not always Bitcoin that is always playing the value of crypto, there is no misery at all if your going to deeply research.
The rightful owner of crypto is making a move how can crypto initiate the real currency into reality.
Think about it, every thing that goes fast will crash, try to remember or search last year fast improvement of price of bitcoin. What did happen onward?
Slowly but surely.
It is not always Bitcoin that is always playing the value of crypto, there is no misery at all if your going to deeply research.
The rightful owner of crypto is making a move how can crypto initiate the real currency into reality.
Think about it, every thing that goes fast will crash, try to remember or search last year fast improvement of price of bitcoin. What did happen onward?
Slowly but surely.
That's very true, there are many other coins to factor in as well. But that doesn't really matter because we just need to wait for them to come back again anyway. We understand that the value may be low, and the level of "pain" according to that index is low too, but it always makes a move back up. The key here is patience.
It gave a "buy signal" earlier this year a bit early though. I think it was about two weeks early. I wouldn't be using it as an indicator because a measurement of all trades being closed isn't necessarily a good way to judge the value of an asset. It's just an indication of "pain"
According to Fundstrat's "Bitcoin Misery Index", we've got nothing to worry about:
https://cointelegraph.com/news/fundstrats-tom-lee-bitcoin-misery-index-indicators-show-the-crypto-isnt-broken
A measurement of the degree of discomfort from investors, it says that we are currently recovering at a level of 39.
More info on how the signal works:
https://cointelegraph.com/news/wall-street-analyst-creates-bitcoin-misery-index-for-traders
https://cointelegraph.com/news/fundstrats-tom-lee-bitcoin-misery-index-indicators-show-the-crypto-isnt-broken
A measurement of the degree of discomfort from investors, it says that we are currently recovering at a level of 39.
More info on how the signal works:
https://cointelegraph.com/news/wall-street-analyst-creates-bitcoin-misery-index-for-traders
Re: The major reason why suicide traders don’t use stop loss
Stoploses very often leads to looses because in this unregulated market coins price can jump -20% in 1s to jump back to its backprice only to eat stoplosses. Atacks on stoplosses happend here every day. If you have possibility i would rather set some kind of allarm or monitor trade with "mind stoploss".
Forex, stock are regulated and -20% jump is not happening. There are also insitutional investors setting huge walls making stoplos attacks less profitable (that makes them happend less often).
Forex, stock are regulated and -20% jump is not happening. There are also insitutional investors setting huge walls making stoplos attacks less profitable (that makes them happend less often).
It's actually a technique they use in the forex and other markets called "stop grabbing" where they clean out orders by striking stop losses before entering a larger order in the other direction. This allows them to gain further momentum with their gigantic moves and slingshot their way to profits. You can see it almost every morning on the London opening on major pairs like USD/EUR, EUR/GBP, etc.
Stop losses are necessary because they help you to calculate risk, but they absolutely need to be placed far away in crypto because of the volatility. This is why I don't really like trading crypto with leverage for long term positions. It's hard to keep yourself from getting hit.
This is an interesting table as it shows all of the possibilities from every possible angle. Still, I wouldn't give it too much thought because although there are some vulerabilities, I think that the general public will be on the side of bitcoin by the time they could be fully developed. What I mean is that the public has already been fed up with the central banks and arbitrary control of their money for a long time, and they are just looking for a (reliable) way to get out of that insecurity and manipulation.
Whether bitcoin can fill this gap is still a bit unsure. I think a good thing for us as a community to focus on is how to use bitcoin in a productive way and make it stronger so more people will begin to trust it.
Whether bitcoin can fill this gap is still a bit unsure. I think a good thing for us as a community to focus on is how to use bitcoin in a productive way and make it stronger so more people will begin to trust it.
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Should the U.S. stop importing from China?
That is a very good question.
I think the united states, russia and others have been shortsighted, focusing only on the short term in their business dealings with china. The basic business plan involving china is to setup a factory in china. Benefit from lower cost of labor to enable lower cost manufacturing of goods.
Unfortunately, the long term outlook involves china stealing all of the copyrighted and intellectual property utilized to produce high end goods. China can already produce their own counterfeit iphones and ipads having stolen patented technology from apple. The natural question there is whether or not apple has made itself obsolete by sharing much of its key technology with a country known for producing pirated goods and content.
It would seem that important technological advantages countries like the USA had over china are being sacrificed for a better short term profit.
That could be considered a bad business deal.
The business deal has already gone bad. It can only go worse now! When apple started producing iphone and other apple products, they have chosen a Chinese company named Foxconn to manufacture their products in China itself. The iphone that you use in USA today, is manufactured in China only and the contract is awarded to them by Apple only just for cheap labour and make maximum profit out of each unit. Still Iphone is the costliest phone in the world. Apple didn't become a near-trillion dollars country just like that!
Now compare about the cheap labour force that China can offer. An average labour in Chinese factories are paid less than $260 monthly for 11 hours shift and 6 days a week. A first world country can't beat that cost. So before you scream that Chinese people are stealing their technologies, think how the technologies are given to them!
What Trump is doing, he is inviting the third world war upon the world population. Take an example of the recent case with Iran! Who the hell USA is to put ban on a country when United Nations has chosen to stay silent. The biggest private oil refinery of China now declared to stop buying crude from USA and shift their business to Iran completely. Why do you think the world will let the USA overrule them on their own decisions. Bad days are coming for USA and if all these continues, its economy will again see a doomsday much harder to overcome!
Now officially at a trillion! Western countries wouldn't exist if they couldn't exploit Cheap Chinese Labor.
I think Trump has set out deliberately to dismantle the US, piece by piece. Just observe the look on his face when he says things like this. He's perfectly aware of the chaos he is reaping, and doesn't give a damn about it. This is the beginning of the end for the American Empire, just like Gorbachev was the beginning of the end of the Soviet Union. Both leaders were well aware of how they were destroying their countries.
Someone must have set them off to do this on purpose.
In India, Bitcoin is not a legal tender. But it is not explicitly termed as illegal. What is the reason for such a stand by Government? what are its implications?
I think that in India in the near future things will change for the better. Recently, a special commission set up by the Government of India concluded that bitcoin could be considered a means of payment, that is, act as money. This dramatically changes the situation in favor of the crypto currency. It remains to wait until the government draws up such a decision with its normative act.Is this for real? When I look on localbitcoins.com it looks like a graveyard in India. No one is trading anymore. A friend of mine said he got in touch with a local agency buying and selling for 12.5% commission. That's absurd! Probably because the banks are afraid to touch it.
Does anyone know if people are still exchanging crypto inside of the country? Or have they all fled to Bangladesh and Nepal?
There will always be a country somewhere that others use for cheap labor. China just happens to be the largest one at the moment, and as mentioned above, they are taking advantage of it (like they should).
Bringing back manufacturing to the US might help the economy, but that's not really the direction we're heading in. The US is no longer a labor based economy; it's a skills based economy. It depends on talent and skill to run. That's why it's becoming freelance and gig based rather than full-time. Is it necessarily a bad thing? I don't think so.
The competitive environment in the US facilitates some of the best innovations in the world. The economy is like that because it forces people to evolve or get left behind. Unfortunately, the ones that get left behind often suffer.
Bringing back manufacturing to the US might help the economy, but that's not really the direction we're heading in. The US is no longer a labor based economy; it's a skills based economy. It depends on talent and skill to run. That's why it's becoming freelance and gig based rather than full-time. Is it necessarily a bad thing? I don't think so.
The competitive environment in the US facilitates some of the best innovations in the world. The economy is like that because it forces people to evolve or get left behind. Unfortunately, the ones that get left behind often suffer.
It depends on your investment plan, if your idea is profit without setting a cap for gains, it means that you may lose because of greed. "20,000 is not enough. I want to wait until I reach 100,000 ".
Cash out process depends on your country and the amount of data "Docs/ID" you are willing to provide, getting cash "anonymously" becoming more difficult with a small amount of money and vice versa.
The best way is trading platforms due to lack of opportunities to scam "if you deal with a reliable platform."
".Cash out process depends on your country and the amount of data "Docs/ID" you are willing to provide, getting cash "anonymously" becoming more difficult with a small amount of money and vice versa.
The best way is trading platforms due to lack of opportunities to scam "if you deal with a reliable platform."
Human needs are very well insatiable. If bitcoin should reach $100,000 today some people would still wait till when it will reach $200,000 despite the fact that the $100,000 is what they have been aiming at since years got into bitcoin in the first place. How to cash out to me is one of the simplest to do and agree depending on your country. There are several options available there is direct sales to individual, there are exchange sites that pay directly into banks, there are also peer to peer sites, you can even use it to buy goods among other means. Just choose one that best suit your needs without raising unnecessary eye brow with the government or any of its agencies.
Yeah we always like to think that there's something better just around the corner. The most important trait of a good trader is knowing when to call it quits and exit a position. This is hard to do with bitcoin because there's always so much hype about further movements and I think it kind of blinds people a bit. I'd just be happy with any level of profit and watch the charts carefully to see what comes next.
It depends on what you want to do with the money. If you send it directly to your bank you are going to have to claim taxes on it, maybe even twice if you can't prove where it came from. That's why some people prefer P2P exchanges because no one knows about the transfer other than the receiver and the seller. Oh and of course your exchange, who will of course tell any authority who asks.
1. Daron Acemoglu and James Robinson. «Why Nations Fail»
2. Ha-Joon Chang. «Economics: The Users Guide»
3. N. Gregory Mankiw. «Principles of Economics»
4. Robert Pindyck, Daniel Rubinfeld. «Microeconomics»
5. Olivier Blanchard. «Macroeconomics»
6. "Sheep in wolfskins", Walter Block
7. "Capital", Karl Marx
8. "Economics of everything", Alexander Auzan
For crypto exchange trading, I think common book recommendations would be things like.
- Beat the Dealer by Ed Thorp
- The Quants, How a New Breed of Math Whizzes Conquered Wall Street and Nearly Destroyed It by Scott Peterson
- Any book by Larry R Williams
- For economic and financial history any book by Lewis Mumford
There are many armchair economists who never apply their knowledge to markets or actual economic conditions. They have academic credentials but never put their theories or politics to the test. It is dangerous to create economic policies which could affect billions of lives on data, theories or perspectives which are relatively untested--as economic academia trends towards.
The best economic and financial content, in my humble opinion, comes from people who have tried to apply their economic and financial theories within a real world context.
When Warren Buffett and Bill Gates comment on crypto, I think many recognize neither of them has made any real attempt to validate or test their views on bitcoin. This makes their stance appear uninformed and immature. Many armchair economists are the same as Buffett and Gates commenting on crypto. They have many economic and financial views but they have made no attempt at testing or informing themselves on current affairs or how things really work outside an academic theoretical perspective.
That is very true. Most of these economists have their heads buried in theory and don't recognize the real application in the real world. That's why these theories become so detached and abstract as they try to fabricate experiments or take samples that are too small just to validate their point.
Floor traders have direct accountability for their actions and therefore know very well what works or doesn't work. An investment banker has no consequence to pay if they recommend you the wrong product. Read Nassim Taleb - Skin in the Game. It's the best book to come out so far this year.
Also, Taleb's Black Swan is important to understand possible "tail risks" or extreme events. These are very common in crypto as we see massive market swings quite often.
Re: Have you ever bought a product with Bitcoin and what do you want to buy?
I've never been but I think BTC will be recognized as a future asset.
Well it is not only an asset but the best course of earning as well, bitcoin is being use for multipurpose, we can invest in bitcoin we can save bitcoin making fine assets and we can also buy all kind of goods using bitcoin, now in most of the markets all kind of things are available for the cost of bitcoin, I recently bought a mobile phone with bitcoin payment.
This is the right way to be using it I think. Keep it for later, and then use it for large purchases when the time is right. I'm not so sure it's very effective for small things, like buying books from Amazon or something like that. It's more of a way to keep money safe and gain value until you have enough of it to convert it and make a large payment. Or it could be used to pay off past debt, pay rent, invest in a business, buy a car, etc. It just seems to me that bitcoin is more effective for large scale purchases.
Or you can just convert a few hundred bucks every month and carry that around in your pocket as spending money. That's not much different, because it effectively came from bitcoin in the first place.
Bitcoin is stable for months, what to do?.These are the questions roaming on every topic on this forum so im helping you decide whether you want to sell it or buy something. Well, im promoting buying so here's why.
You probably have some coins bought when the price is still high, and you want to sell it because you are afraid that it may go deeper and you lose more. These is called the panic sellers which triggers When the value of the coins they are trading or holding pump down. What will happen? You will claim that you defeated and surrender for what we say bear manipulation. You just gave your money to them, you get depressed and you eill post bad news about bitcoin so that a lot people would be discouraged to invest. It doesnt help yourself and doesnt help other people either.
But what if, instead of declaring you lose, you hold your coins until it goes back because we both know that this drop is just temporary and when the value get tired of being low, it will soar high again. Its a winwin situation for us financially and emotionally. Yes , it is depressing until it still low but we know we are not lose until we sell it. More money, lesser stress.
We should take this low value opportunity to buy rather ranting nonsense that wouldnt help. Have a strong heart people.
You probably have some coins bought when the price is still high, and you want to sell it because you are afraid that it may go deeper and you lose more. These is called the panic sellers which triggers When the value of the coins they are trading or holding pump down. What will happen? You will claim that you defeated and surrender for what we say bear manipulation. You just gave your money to them, you get depressed and you eill post bad news about bitcoin so that a lot people would be discouraged to invest. It doesnt help yourself and doesnt help other people either.
But what if, instead of declaring you lose, you hold your coins until it goes back because we both know that this drop is just temporary and when the value get tired of being low, it will soar high again. Its a winwin situation for us financially and emotionally. Yes , it is depressing until it still low but we know we are not lose until we sell it. More money, lesser stress.
We should take this low value opportunity to buy rather ranting nonsense that wouldnt help. Have a strong heart people.
The simple counter argument that you fail to assess in this post is: What if the price continues to go down? Your argument for buying relies very heavily on the concept of buying and selling and offers little to no concrete evidence as to why someone should keep buying. Is there an event in the near future that could potentially raise the price? If so, that would increase the strength of your argument tenfold. As far as people are concerned when it comes to this issue, people think about the worst case, not the best case. The worst case being that everything goes to 0 at some point in the future.
That's true, but it shouldn't be on your mind as an investor. Investors should make decisions based out of a desire to grow, not out a fear of loss. Humans are so terribly loss averse that they paralyze themselves with fear when faced with such difficult decisions, decisions that could actually be decided with the flip of a coin.
So yes, it could go down to 0. It could also go up to a billion. No one has the power to see if that will happen, so all we can do if make our decisions carefully and rationally. In that case, invest carefully and do it with good intentions.
I think the Indian government is backtracking now. They've realized what an impossible task banning the currency would be, and how it would actually make them look weak in the long run because they wouldn't be able to enforce it, so they're starting to weigh other options.
Think about it. How can a government effectively ban crypto? Even China, with its cyber police and great firewall couldn't stop it completely. There's always a way around it, and if anything, a complete ban will only make the citizens more curious about it. Then they'd start finding easy ways to invest in it, and their children in the west will start sending remittances with it.
Think about it. How can a government effectively ban crypto? Even China, with its cyber police and great firewall couldn't stop it completely. There's always a way around it, and if anything, a complete ban will only make the citizens more curious about it. Then they'd start finding easy ways to invest in it, and their children in the west will start sending remittances with it.