EfficientNinja

I don't think it will. As of now people still prefer other types of payments. Debit and credit cards, PayPal, etc. Bitcoin and other cryptos would be a great payment option but not as a sole method of payment today. Maybe in the future, many have already adapted to crypto.

Robinhood is a popular trading platform for different markets. They offer free trading transactions with stocks. I'm not familiar with other markets though. They are adding new cryptocurrency to trade regularly. Now, Litecoin and Bitcoin Cash are the newly added crypto to trade. What are your opinions on Robinhood?

I see this as a very big inconvenience too. I hope this will change in the future and they'll have some options to convert to traditional currencies. It is a hassle to top up funds when you want to trade cryptocurrency through these sites.

Before I enter a trade I already have a stop loss ready when the market doesn't move in my favor. I would never have a 50% loss in my portfolio. I only risk 1% of my capital on every trade and I have stop losses ranging from 4-10%. I have my stop losses at 3 ATR.

China is restricting trades. I read somewhere about trade wars with the United States. I guess China doesn't want their money going out of their country. I also think the main reason that China is banning crypto is that they are the main areas that it is profitable to mine cryptocurrency.

I also think that the mining industry is really quiet nowadays. I don't see that much news about it. But they will soon get attention once it is more profitable to mine cryptocurrencies. An old relative of mine was planning to make his crypto mining business with his friends. I hope he's still in the business.

I would like to ask the Sling Bank Community which currency or cryptocurrency pairs they like trading the most. ETH/BTC seems to be one of the more popular trading pairs. LTC/BTC, ETH/LTC, etc. are some examples of these trading pairs. Which of these are your favorites to trade?

The right time to go for a long position is when it goes above the 200 MA. You'll need to have your trade setup first and have your stop losses and trailing stops set before you enter a trade though. Right now Bitcoin's price is below 200 MA and I can't see it changing anytime soon. I guess it's a good time to go short? But I haven't tried shorting Bitcoin yet. 😛

I invest 1% of my assets in Bitcoin. I have most of my assets in the Stock market and agriculture land. It's great for diversification and even if I only put a small allotment, the profits make up for it. I also won't feel bad if my crypto trading account gets wiped because I only allocated 1% of my wealth there.

All we can do is wait and wait until Bitcoin's price starts to move in our favor. We can't move the price ourselves and it's up to the whales' actions. I do hope there will be another bull run soon. It may be this year or next year. Nobody knows.

I guess there aren't any ways to recover a lost Bitcoin wallet. The Bitcoins that are lost will never be recovered again because the owner failed to secure them. Maybe we could contact the website or the company of the software or hardware wallet provider.

Good Day, Sling Bank members! I would like to ask the Sling Bank community on which websites they check Bitcoin or other cryptocurrency's current price. Some of us here may be checking a cryptocurrency's current price every day or at various intervals during the day, especially if they are day traders. So what are the best sites to check the current price and maybe also do some technical analysis? Thanks!

It can still go lower. I don't know where the next support area is but it's sure to get broken down again. At this pace, it is sure to go lower.

I found a post somewhere on Reddit that says Bitcoin is under attack constantly but it isn't fazing. It just shows that it's security is powerful enough to keep the attackers at bay. As for the volatility of the price, I think it is the nature of Bitcoin to have wild swings at times.

It really is still in a bear market. I guess nobody really knows. It's price just reflects the market's trades and more are selling instead of buying right now. All we can do is wait if we want to ride another bull run in the future.

I guess it's a matter of location. Here in my area some of the miners are quitting because they are losing more than they are earning. Bitcoin's falling price doesn't help either. If only Bitcoin or other cryptocurrencies are still sky high maybe they could profit more?

Good Day, Sling Bank members! I was wondering if Cloud Mining sites are safe. It seems to be a good investment since you don't need to buy a physical mining rig. However, there are many scam sites about cryptocurrency and I am reluctant to try it on my own. Has anyone in this community tried investing in them and had success in withdrawing their profits?

I guess more young people would support candidates like these because they support cryptocurrency. It would be nice if people who are techy would be in the Senate so there will be more people to defend or create laws in technology. Other countries are sure to follow if they see the United States supporting cryptocurrency.

What we could do is ride the price movement when the whales or the rich people invest. It's inevitable that the price will create a trend once they start slowly investing. Once the public realizes this, these institutions would pull out their money before others do to secure their gains.

This will have to involve some luck. The probability is there but there will be more duds today than yesteryears. There will be a higher chance that the one you chose to invest in are crap coins. If you are lucky you might invest in those that will appreciate greatly.

Hello, Sling Bank members! With Bitconnect being one of the largest scams in the cryptocurrency universe, people are now more cautious when it comes to engaging in a crypto investment. How do we avoid getting scammed in crypto investments? Are there obvious signs if a cryptocurrency investment is a scam? Can you share some of your criteria to check if a site that is claiming to be a legit investment is a scam?

It’s hard to prove or say that crypto isn’t involved in illegal and underground transactions. It is because it is very convenient for underground transactions. When people transact using cryptocurrency, they are anonymous.

There are lots of hilarious crypto names out there just like @Kakashi2020's example of Dogecoin. Having a funny sounding cryptocurrency name would make investors think of it as a scam or just a cryptocurrency made out of fun. Something sounding professional and clean might lead to a great future for the crypto.

I do hope so because I'm not an expert yet when it comes to technical analysis. I am continuously learning about trading and reading news about cryptocurrency. Thanks!

If there are attacks, the network could get slow and might have wrong data sent to other addresses in the network. These are only my assumptions because I don't know much on how the block-chain works behind the scenes. Some of the known security flaws of Bitcoin seems to be already addressed by Ethereum.