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RE: Top Secret to Making Money with Any Cryptocurrency!
Trading is a gambling and losing if you don't know what are you doing. Markets are easily manipulared, FOMOs are all over the place and too much uneductaded money flows around thr cryotocurrencies. What we need is more stable market, less useless pump/dump coins and more reason in trading and ICOs. People need to have universal vocabulary on the blockchain and trading in cryptocurrencies. This volatility is ruining the point.
Yeah, even Gold was the same in 70's. It was volatile and people used to make 100% profits too. The way Gold has stabilized; similarly BTC will stabilize going ahead.
True, ICO is ruining everything. Anyone can make a coin easily on Ethereum platform within no time. Investor should be careful enough as whales exploit such opportunity of pumps and dumps. When new investor join the market they think it's easy to make money but loses confidence after a while. I have seen this happening with my friend too.
As Andreas Antonopoulos suggests that don't trade but invest is the right thing to do until you realize trading is not your cup of tea. Good luck to all...
Exactly. But how will other crypros behave in the case of Bitcoin stabillization the question remains. We might see actually useful blockchain when this happens because serious people are frigtened by the current volatility, and once stabiliziation kicks in we will see growth of useful blockhain platforms like Steemit which is first in the row on this adventure.
You are right and not only this. You pay taxes once your trading. Though it depends on the country it common praxis, once you trade one coin for another it means you realise profits or lossses. if you trade too much, you are considered a trader , which makes it even worse taxwise.