****** discussion

[BashirJasper]

Yes, please, tell us.

First, I'll want to know if you're a noob or not so that I can know where to begin from

 

[BashirJasper]

Yes, please, tell us.

Well, if you are just new to blockchain and ******, it's good you understand that ****** doesn't guarantee a 10x Return On Investment like a lot of people will make you to believe. You need to be patient and get to understand first, what your strengths are like are you a good trader or you like investing?
Then you get to learn how to use trading tools starting from Technical Analysis, how to use limit/market order, how to use Stop Loss/Take profit features and how to read trend-lines and back-test them on your preferred Time-Frame to see the probability of success; that's if you wanna be a ****** trader

 

[Clinton]

It sounds very complicated.

But you can teach me all this, yeah?

 

[BashirJasper]

It sounds very complicated.

But you can teach me all this, yeah?

Yeah. You can ask whatever you wanna ask.
I'll be happy to help you understand how it works but I must say patience and practice is the key here

 

[WaveJumper]

T

Yes, please, tell us.

This should be interesting

 

[fisicx]

Yeah. You can ask whatever you wanna ask.
I'll be happy to help you understand how it works but I must say patience and practice is the key here

How can I buy a pint down the pub? How can I fill up the car? How can I send money overseas to a Euro bank account? How do I buy jam at the farmers market?

If I can’t do any of these then it’s not worth doing anything with ******.

 

[Mark T Jones]

Well, if you are just new to blockchain and ******, it's good you understand that ****** doesn't guarantee a 10x Return On Investment like a lot of people will make you to believe. You need to be patient and get to understand first, what your strengths are like are you a good trader or you like investing?
Then you get to learn how to use trading tools starting from Technical Analysis, how to use limit/market order, how to use Stop Loss/Take profit features and how to read trend-lines and back-test them on your preferred Time-Frame to see the probability of success; that's if you wanna be a ****** trader

Sounds very much like investing in stocks and shares. Why would I favour ******?

 

[Clinton]

Yeah. You can ask whatever you wanna ask.

I want to know just, like, how do you make money in this ****** thing? I've no idea. You said you could explain this. Please tell us. I am a noob so I need to know everything.

 

[WaveJumper]

Ignoring all my previous advice on ****** volatility and trading I did go long on Bitcoin in March when it was at 16992 I took a ride through to April when it hit a high of 30800 (it was pretty much expected to hit the 30s) the Fibs suggested a pullback (well you would expect a tree shake when it rises like this) pulled back in June to 24700 oh hell, once again (being a bit bored with the worlds problems and usual market turmoil) jumped back in rode the rise back up to 31400 on the 30th took my second profit. Bitcoin dithering (not a trader’s technical term) around the 30s I must listen to my own advice, but hell the fib suggest a short is the order of the day so to hell with it

So to be fair to our OP yes you can make money trading ****** but as I have always said on this topic its very volatile, not for the faint hearted and unless you’re a professional trader the only way to dabble in this is on a ****** platform and we all know what happens to those, in short no security you’re not protected by the FSA etc

To spend your ****** (there’s a couple of cards around I believe now I’ll do a bit of research on that at some point) well you would need to turn it back into pounds, shillings, & pence that’s if the ****** platform has not run off with your money of course.

 

[Mark T Jones]

Ignoring all my previous advice on ****** volatility and trading I did go long on Bitcoin in March when it was at 16992 I took a ride through to April when it hit a high of 30800 (it was pretty much expected to hit the 30s) the Fibs suggested a pullback (well you would expect a tree shake when it rises like this) pulled back in June to 24700 oh hell, once again (being a bit bored with the worlds problems and usual market turmoil) jumped back in rode the rise back up to 31400 on the 30th took my second profit. Bitcoin dithering (not a trader’s technical term) around the 30s I must listen to my own advice, but hell the fib suggest a short is the order of the day so to hell with it

So to be fair to our OP yes you can make money trading ****** but as I have always said on this topic its very volatile, not for the faint hearted and unless you’re a professional trader the only way to dabble in this is on a ****** platform and we all know what happens to those, in short no security you’re not protected by the FSA etc

To spend your ****** (there’s a couple of cards around I believe now I’ll do a bit of research on that at some point) well you would need to turn it back into pounds, shillings, & pence that’s if the ****** platform has not run off with your money of course.

I've never doubted that smart investors can make money in ******.

On the other hand, the vast majority of investors won't, precisely because they are being guided by people who have a vested interested in feeding them bad advice - the most pervasive being 'never sell'. (Amongst other things its a great way of not being accountable, since we all know that you haven't made or lost anything until you sell).

Not unlike stocks and shares except that if you look closely you can find logic and clear trends in stock markets

 

[Newchodge]

I've never doubted that smart investors can make money in ******.

On the other hand, the vast majority of investors won't, precisely because they are being guided by people who have a vested interested in feeding them bad advice - the most pervasive being 'never sell'. (Amongst other things its a great way of not being accountable, since we all know that you haven't made or lost anything until you sell).

Not unlike stocks and shares except that if you look closely you can find logic and clear trends in stock markets

Surely, ****** trading, like share trading, relies on a seller finding someone to buy at a price that gives the seller a profit. The buyer then has to find a buyer who will pay a price that gives them a profit and so ad inf. At some point someone will make a loss.

 

[Mark T Jones]

Surely, ****** trading, like share trading, relies on a seller finding someone to buy at a price that gives the seller a profit. The buyer then has to find a buyer who will pay a price that gives them a profit and so ad inf. At some point someone will make a loss.

It all fails in the end! AKA greater fool theory

My point broadly is that there are key indicators and established factors that define share values (though they are far from 100% reliable)

****** is divided by a 10% market makers, 10% astute observers and 80% greater fools

 

[thommo1]

I put in £10K (Bitcoin) on Valentines day just gone purely as a punt, nothing else, prepared to lose it all, call me a old romantic if you like. Since then the lowest its been was circa £7.5k and the highest circa £12400, as we sit as of this moment its £11962.86. This is my purse btw not the actual Bitcoin price. Will give you a monthly update purely out of interest.

 

[fisicx]

This is my purse btw not the actual Bitcoin price.

What does that mean?

I'd much rather spend the £10k having fun. The days of chasing money have long gone for me.

 

[fisicx]

First, I'll want to know if you're a noob or not so that I can know where to begin from

Just need to point out that there has been a spate of new members all posting from Nigeria and all promoting some Bit thing. most have been nuked. Read into that what you will.

 

[thommo1]

What does that mean?

I'd much rather spend the £10k having fun. The days of chasing money have long gone for me.

Not sure its that hard to understand - I bought £10k worth of Bitcoin when it was priced at approx £19k for one coin so I own approx 51% of one coin, this was in Feb 2023 (14th) today the price of one coin GBP is £24311.99 so my personal gain as we stand today is £1966.47. So my wallet or purse or account or whatever you want to call it is worth £11966.47. See.

Didn't really need you sarky comment on what you'd spend money on, Who cares.

Just of note I was going to buy in in November 20222 when it was circa £13k for one Bitcoin but fell into the trap of believing it was going to bomb further and hesitated and then promised myself I would have to buy before it hit £20k alas why I went in at £19k.

 

[WaveJumper]

It all fails in the end! AKA greater fool theory

My point broadly is that there are key indicators and established factors that define share values (though they are far from 100% reliable)

****** is divided by a 10% market makers, 10% astute observers and 80% greater fools

Yep agree with the ****** market I think the last figures I saw around 75% of traders make a loss its a real mine field. Stocks and shares again as you say a little more orderly but sometimes one could be forgiven for thinking the "system" is rigged. The markets for the best part are driven by sentiment ie will the FED do this or that or some other major woe in the world. I hear the "you've only made a loss if you sell" quite a bit but the smart money has normally already got out waiting for the next big dip.

 

[Mark T Jones]

Just need to point out that there has been a spate of new members all posting from Nigeria and all promoting some Bit thing. most have been nuked. Read into that what you will.

You mean that people who join just to offer support and advice on ****** aren't genuine!?

You could knock me down with a feather ?

 

[BashirJasper]

Ignoring all my previous advice on ****** volatility and trading I did go long on Bitcoin in March when it was at 16992 I took a ride through to April when it hit a high of 30800 (it was pretty much expected to hit the 30s) the Fibs suggested a pullback (well you would expect a tree shake when it rises like this) pulled back in June to 24700 oh hell, once again (being a bit bored with the worlds problems and usual market turmoil) jumped back in rode the rise back up to 31400 on the 30th took my second profit. Bitcoin dithering (not a trader’s technical term) around the 30s I must listen to my own advice, but hell the fib suggest a short is the order of the day so to hell with it

So to be fair to our OP yes you can make money trading ****** but as I have always said on this topic its very volatile, not for the faint hearted and unless you’re a professional trader the only way to dabble in this is on a ****** platform and we all know what happens to those, in short no security you’re not protected by the FSA etc

To spend your ****** (there’s a couple of cards around I believe now I’ll do a bit of research on that at some point) well you would need to turn it back into pounds, shillings, & pence that’s if the ****** platform has not run off with your money of course.

Yeah, not been protected by a central regulatory agency is one of the curses that comes with decentralization on the blockchain. But I think we are slowly getting to face the reality of ****** regulation as most countries have kickstarted that process already. I think South Korea and Hong Kong have recorded some level of success in that area.

Your last statement about "how to spend ****** ..... and ****** platform running away with your money" is not entirely correct.

1. There's a faster way to get your ****** converted into money using peer-to-peer trading. You just make the order and a lot of interested parties will queue up for the transaction, select the most reliable by % transactions completed and your money just bounces into your bank account. It's that simple!
2. Losing assets to ****** platform can be reduced if you practice SAFU. That is, once you get an opportunity to trade transfer your asset from your cold wallet to the exchange and make your trade. And once you're done move them back

 

[BashirJasper]

I want to know just, like, how do you make money in this ****** thing? I've no idea. You said you could explain this. Please tell us. I am a noob so I need to know everything.

You could choose between been an investor or a trader or you can do both but first you'll need to look for projects that have the potential to give you some higher returns on investment so you need to star by looking at the projects team, what problem does the project seek to solve - is it a popular blockchain/****** problem or is it a copy-cat project?; what is the token distribution formula and policy? - if the tokens are concentrated in the wallets of few project member, that's a red-flag.

Now, if you find a project that seek to solve popular blockchain problem or has improved DeFi functionalities; has reputable dev team and the distribution of the tokens is fair amongst the project community and vesting schedule has a longer time-span; check its ranking on CoinMarkeCap and CoinGecko (usually the top 100), then you can start a strategic DCA (Dollar Cost Averaging).

But before you do all these, consider your the best risk management plan that suits your style

 

[BashirJasper]

Sounds very much like investing in stocks and shares. Why would I favour ******?

No special reason except if you wanna look deeper for other earning opportunities like becoming a validator to help delegate and become rewarded, to become a Liquidity Provider on DEX and earn commission on staking and borrowing or staking either on hot wallets, DEXes or liquid/fixed staking on CEXes to earn passive income

 

[WaveJumper]

I was going to add to previous post on this subject (internet access has been crap this weekend) the current rise seen in Bitcoin (although there been some very sharp rises across the whole sector) has been fuelled by various funds pushing to launch a ****** EFT, WisdomTree, VanEck, and Invesesco have all refilled an added to this was a 4.5 trillion order from Fidelity for SEC approval on the 30th June. The US, SEC have squashed all previous attempts so will be interesting to see how the latest requests stand up. Of course this could all be a massive pump and dump scenario so watch your backs …… it’s a bit like the wild west out there

 

[Mark T Jones]

No special reason except if you wanna look deeper for other earning opportunities like becoming a validator to help delegate and become rewarded, to become a Liquidity Provider on DEX and earn commission on staking and borrowing or staking either on hot wallets, DEXes or liquid/fixed staking on CEXes to earn passive income

I've no idea what any of that means - though I guess the sub text is pyramid?

 

[japancool]

The use of the word "stake" suggests it is a giant gamble.

 

[BashirJasper]

I was going to add to previous post on this subject (internet access has been crap this weekend) the current rise seen in Bitcoin (although there been some very sharp rises across the whole sector) has been fuelled by various funds pushing to launch a ****** EFT, WisdomTree, VanEck, and Invesesco have all refilled an added to this was a 4.5 trillion order from Fidelity for SEC approval on the 30th June. The US, SEC have squashed all previous attempts so will be interesting to see how the latest requests stand up. Of course this could all be a massive pump and dump scenario so watch your backs …… it’s a bit like the wild west out there

Yeah, exactly and we have seen liquidation of both long and short positions on BTC in the last 48 hours. So, it's time to keep off the market. The best bet now is swing trade within a short term or better do copy-trading with professional traders and don't be greedy!

 

[fisicx]

You could choose between been an investor or a trader or you can do both but first you'll need to look for projects that have the potential to give you some higher returns on investment so you need to star by looking at the projects team, what problem does the project seek to solve - is it a popular blockchain/****** problem or is it a copy-cat project?; what is the token distribution formula and policy? - if the tokens are concentrated in the wallets of few project member, that's a red-flag.

Now, if you find a project that seek to solve popular blockchain problem or has improved DeFi functionalities; has reputable dev team and the distribution of the tokens is fair amongst the project community and vesting schedule has a longer time-span; check its ranking on CoinMarkeCap and CoinGecko (usually the top 100), then you can start a strategic DCA (Dollar Cost Averaging).

But before you do all these, consider your the best risk management plan that suits your style

You need to stop all the jargon and start with the basics.

Try explaining what a Bitcoin is. Then explain how it works. Then breakdown how a complete novice can buy a Bitcoin. And explain what this wallet is. I’m assuming you login to your ****** account to see your balance.

 

[BashirJasper]

The use of the word "stake" suggests it is a giant gamble.

Haha, it's not the betting or gambling stake we mean here. It's a feature that allows holders of tokens to lock their tokens and commit it to a pool for a certain period of time. Validators will be tasked on solving some computational matrics to increase the volume of the token and they will be rewarded accordingly. The delegator (that's the holder) also get more tokens in return from the increased volume.

So, staking is an easy way of earning money passively in ******

 

[fisicx]

Haha, it's not the betting or gambling stake we mean here. It's a feature that allows holders of tokens to lock their tokens and commit it to a pool for a certain period of time. Validators will be tasked on solving some computational matrics to increase the volume of the token and they will be rewarded accordingly. The delegator (that's the holder) also get more tokens in return from the increased volume.

So, staking is an easy way of earning money passively in ******

In other words, data mining.

 

[Mark T Jones]

. Validators will be tasked on solving some computational matrics to increase the volume of the token and they will be rewarded accordingly. T

I think this is a case where AI would make more sense.

Why do MLM people fool themselves that use of crass 'business speak' will give them credibility?

 

[BashirJasper]

You need to stop all the jargon and start with the basics.

Try explaining what a Bitcoin is. Then explain how it works. Then breakdown how a complete novice can buy a Bitcoin. And explain what this wallet is. I’m assuming you login to your ****** account to see your balance.

Well Bitcoin is just a digital currency like other cryptocurrencies designed to be used as a medium of exchange between two parties on the blockchain without the need of a central authority or approval. That's why it's decentralized. Blockchain will record all transactions performed and it's immutable. Transactions over the blockchain might be fast or slow depending on the 'consensus mechanism' for example transactions on the former Ethereum blockchain is quite slow whereas on Solana and Aptos chains, it's quite fast (can process up to 10k transactions per seconds).

There are various cryptocurrencies at the moment but I'm gonna be referring to major ****** throughout this explanation.

Bitcoin has its own blockchain which uses the Proof-of-Work consensus mechanism meaning transactions on it are a bit slow though recently, the bitcoin lightning network has been developed to make it faster ( still in the testing phase though). Bitcoin blockchain is the most secure amongst all blockchain (even more secure than Ethereum). The currency, in countries like ElSavador, Ukraine, South Korea, Hong Kong, Brazil and UAE is used as means of payment including the use of Bitcoin ATM machines in some of these countries.

How to buy Bitcoin and other cryptocurrencies:
****** are bought and exchanged on exchanges like Binance, Uniswap, BYBit, OKX, Bitget, Kucoin, Gate, Huobi etc by using either market order or limit order or through peer-to-peer trading services. Ideally, we buy when the market is down and sell when market is up though you can also stake as I've already explained in one of my comments.

What is a wallet?
A wallet is a holding storage where your assets resides like your bank account. There are different types of wallets - hot wallet, exchange wallet and cold wallet. When you buy any ****** on an exchange, your asset goes to your spot wallet on the exchange. You can either trade your assets daily or hold them for a while (to sell when the prices are up) or stake them flexibly or on a fixed term to earn passive income while you wait for the market boom.
You can also transfer your assets to a cold wallet for storage and safe keep. Or you can transfer them to a hot wallet to take advantage of some other DeFi earning opportunities like on-chain staking, currency swap etc

 

[Newchodge]

What is a blockchain? Sorry, can't get past the first sentence.

 

[Clinton]

@BashirJasper , you still haven't told me how I can make a lot of money in ******,

...better do copy-trading with professional traders and don't be greedy!

You sound like a professional trader. Can I do copy trading with you? So bascially I set my trading platform to open / close a trade whenever you open / close a trade, right?

How much do you charge for this?

 

[BashirJasper]

What is a blockchain? Sorry, can't get past the first sentence.

A blockchain is a network of computer nodes having a distributed database that records and store information. Those information are unalterable. It's also decentralized meaning no one controls the data on the blockchain or even the blockchain itself.

 

[fisicx]

A blockchain is a network of computer nodes having a distributed database that records and store information. Those information are unalterable. It's also decentralized meaning no one controls the data on the blockchain or even the blockchain itself.

You are quoting from somewhere. I’m not convinced you actually understand the technology.

 

[Newchodge]

A blockchain is a network of computer nodes having a distributed database that records and store information. Those information are unalterable. It's also decentralized meaning no one controls the data on the blockchain or even the blockchain itself.

Nope, lost me there

 

[BashirJasper]

@BashirJasper , you still haven't told me how I can make a lot of money in ******,



You sound like a professional trader. Can I do copy trading with you? So bascially I set my trading platform to open / close a trade whenever you open / close a trade, right?

How much do you charge for this?

I want you to jettison the idea of making lot of money in ****** very quick. It makes you vulnerable

Yeah, I'm an experienced trader but not registered with any of the exchanges' copy-trading products at the moment. But if you don't mind, I could recommend a couple of exchanges that offers reliable copy-trading services

 

[BashirJasper]

Nope, lost me there

Simply put, blockchain is a system of similarly programmed computers that stores and record transaction information in a way that these data cannot be changed, modified or control by anyone

 

[Gordon - Commercial Finance]

never listen to anyone's advice

Interesting piece of advice from someone who is attempting to offer advice.

 

[BashirJasper]

You are quoting from somewhere. I’m not convinced you actually understand the technology.

Sorry, my world revolves round web3 and blockchain is an integral part of it. 80% of my transactions are on blockchain; believe me or not!

 

[BashirJasper]

Interesting piece of advice from someone who is attempting to offer advice.

Haha!! I'm being honest; you just need to do your own research to realize self-conviction. That's the basic rule