Banker or Trader? Bitcoin is Here to Stay: A blog about trading bitcoins as an investment and living off of them.
I’ve been looking into Bitcoin for a while now and I’ve been talking to a lot of people about it. It seems that most people are divided into two groups: the first group has heard about Bitcoin but doesn’t really care about it, the second group thinks that this is just a fad that will pass soon.
I don’t have much to say to the first group, I’m afraid they’re missing out on an opportunity. However, I do have some things to say to the second group and I think they should listen up.
I am not a financial expert and this is not financial advice; please consult your financial advisor before making any decisions regarding your finances.
The reason why there are so many posts on the internet saying that this is just a fad is because those people don’t understand how money work. They think that if they can buy something with their Visa credit card then they’re good to go, but they’re missing out on something very important: Fiat currencies (USD, EURO, CAD, etc) are created out of thin air by central banks when they issue more government bonds (debt
I’ve been trading bitcoins for 3 years. I have a lot of experience and it is the only thing I have been doing for the last few years. I am considering living off of them and using them as my main source of income. As you can see, I am not a banker or someone who has been involved in banking for years.
So why should you listen to me? Bitcoin is here to stay: A blog about trading bitcoins as an investment and living off of them. How to Make Money Trading Bitcoin
Bitcoin is a digital currency that has been around since 2009 but it has only recently gained popularity. It has grown in value by over 1000% in just a few months and there are many people who believe that it will continue to grow in value indefinitely.
I’ve created this blog to help people become better traders and make more money trading as a result.
There is a question I ask many people who are in the cryptocurrency space. It is a simple one and is meant to divide people into two categories:
Are you a banker or trader?
It can be difficult for me to tell as many people are both. The reason I ask is because if you are more of a banker than a trader, Bitcoin is probably not for you. Bitcoin is for traders who are willing to take on more risk in order to profit from price swings. If that’s not your thing, then there are other cryptocurrencies out there which have better banking features such as Ethereum and Dash. Bitcoin will not suit those who are looking for something like PayPal except better.
Traders use Bitcoin (and other cryptocurrencies) because they believe that the prices will rise above what they purchased them at. Bankers use it because they can send money instantly around the world without any fees attached to it… just like an email!
Bitcoin has been called digital gold, but I think this is inaccurate. Gold has no counterparty risk, meaning the only risk you really have with owning gold is losing it or having it stolen. Bitcoin carries with it a lot of counterparty risk. You can lose your coins if you forget your password, send them to the wrong address or
Bitcoin is here to stay…
Bitcoin is a currency; it is retail, wholesale, and investment banking all in one. Bitcoin is the technology that enables peer-to-peer exchange between any two people. Bitcoin is a payment method for online merchants that allows you to pay in bitcoin rather than fiat currencies like dollars and euros. Bitcoin will eventually be worth $100,000/each… The current price of Bitcoin on coinmarketcap.com is $611.04/each as of 11am EST on May 8th, 2015. That’s an increase of roughly 700% over the last year alone. That’s an annual average of just under 70%; nearly 6x higher than the S&P 500 over the same time period!
Bitcoins are not going anywhere; they are only increasing in value and expanding in utility. For example, this summer BTC will be introduced into the Ethereum network allowing for smart contracts to be coded on top of the blockchain itself. This will allow for startups in the near future to raise capital through initial coin offerings (ICO).
At the end of 2013, the bitcoin market capitalization was $15 billion. That’s a lot of money, but is it more than Apple Pay could handle in its first week?
The total value of all bitcoins in circulation is now approaching $4 billion. Bitcoin’s market capitalization has been growing at an exponential rate, and it is not hard to see why. It’s much easier to understand the bitcoin market cap than the stock market cap, because we can see all of the transactions that make up the bitcoin market. And it’s easy to understand how these transactions affect the rest of the economy.
The total value of all bitcoins in circulation is not what determines their value, however. The price per bitcoin is determined by supply and demand. The bitcoin network is designed so that there will never be more than 21 million bitcoins in existence (the number of bitcoins created per block, which is currently 25, halves every four years). As long as people want to buy and sell them, there will always be a market for bitcoins.
When you buy or sell a bitcoin, you are buying or selling a piece of code that represents ownership of that coin. You can’t use it like a currency or stock certificate. You can only use it to trade with other people who
I haven’t been writing as much lately and that’s because I’ve been extremely busy trading. My little side project has turned into something much bigger than I could have imagined and that’s lead to a lot of stress, pressure, and headaches.
I wanted to write about something that had been in my head for the last couple months: the importance of setting goals. I’m not a big goal setter by nature. In fact, I’m more of a “just wing it and see how it goes” kind of person. When I was younger, this worked out fine for me.
But as I’ve gotten older, this approach hasn’t cut it for me anymore. I was always the type of person who didn’t want to be told what to do or how to do things my way. But when you don’t have good goals in mind, you end up getting lost along the way without even realizing it.
I’m sure everyone has experienced this at some point in their lives; however, in my case, it took me a while to realize it. It wasn’t until recently that I really started thinking about the future and what direction my life is going in; or should be going in.
In my previous post about finding balance, I mentioned that