Be calm when the market is down!
Crypto is based on decentralized finance where none can control it as a signal person controls the stock market alone. So this means whenever the market goes down, it will take time to rise again. And there has no point to us feel panic when market went down but market went down mean this is opportunity for us. Those who understand this, take this opportunity and increase their funds more in the future. In fact, the dips helps more to the whales because whenever market went down, all the retailer investor feel panic and keep selling their coin at lose. And thus whales take this chance to buy the dip and store the coin for the long term.
Also some long term traders and expert one take this opportunity with whales. As I have said and you guys know traders are advanced to know the market condition. Because they can analyze the market with soft prediction. Though I am not a trader so I wanted to buy some coins when the market went down but I was not right. So he asked me to wait more and now look to the market, everything went down. This is why traders advance to make profit.
So everyone should not panic whenever the market goes down. But use this opportunity to double your funds. But there are problems too when the market goes down. Because most of us don’t have enough funds whenever markets go into a dip. For this reason some sell their other holding coins to buy other potential coins. But this is not the perfect strategy. This is why we must keep recovery funds to face any market situation.
Anyway, the main point is we must keep some recovery funds to buy crypto in the dips. Also the buying strategy should be different. You must keep a portion of your recovery funds to buy crypto. Because sometimes the dips market goes to more dips. In this case if you make a portion of your recovery funds, you can buy again when the market goes down.
After all, whenever the market goes down, we must wait 2 month minimum to get our investment double or at least 1.5x. Because after the dip, the market usually takes one or two month to be stable. So you must wait for this and don't panic at all to sell your coin.
Education system re-open!
Due to covid 19, all over the world education systems were closed for up to 1 years according to different country time periods. Some countries reopened the education system after one years of covid and some countries did not close the education at all. While some countries still have not yet re-open the education system. In fact, they can not re-open the education, if they wanted to. Because the covid kept increasing and increasing. My country was one of those countries and was afraid to open the education for students physically. Though they have teached students via online class and assignment but this is not enough for students. And when students face the final exam, they will face the problem of solving different questions.
For this reason, our education system re-open now after 1.8 years. In fact, before 12 September, our education minister gave us many dates about reopening the education system. But this did not happen. Just because of the Covid which keeps increasing significantly. Though the parents of the students wanted to re-open their school, the college but the government did not take any step. In fact, parents were bored because all the time students were playing online video games on their phones rather than doing online class. So after all the analysis and prediction, our education system re-open.
The college and school opened again but the protection must be high too for students to be safe from Covid. This is why, Government declared that in every school or college, students must ensure Face musk, hand sanitizers and gaps between two students. So that there will be no effect.
But will the students listen to this? 80% will not because after a long time, they are meeting with their classmates again. In fact, they will go to school or college by bus, car, Motorcycle and so on. So the corona effect chance will increase now more.
Lets see how our government takes steps against this . Hope no student will face corona.
Will crypto remain decentralized?
Right now, crypto is one of the fastest financial systems in the world that gained popularity like this within a short time. But as crypto is a decentralized financial system, this is harmful for the centralized financial system, like we are now under a centralized finance system. This is why many people start to worry about crypto and how it will act in coming years. Because different analysis already predicted that within the next few years crypto's total market cap will be up to 10 trillion US dollars. This is harmful for centralized finance.
Though the government has already taken steps against crypto, they are unable to ignore or stop. This is just because of the interesting people on crypto. If you look at crypto adoption and people's interest in it, you can see from the last 3 years to till now 60% of crypto users joined newly in crypto. And most of them think crypto will give them financial freedom and they can escape from government tax issues. But will this ever be possible?
If you look to china citizens, they are now unable to access on Binance exchange totally because china banned the access of their citizen on any exchange.. There haa reason behind this too.. Last month China totally banned bitcoin mining, bitcoin trading and other crypto too.. But this looks like their citizens still engage with crypto.. This is the reason why China banned access on Binance exchange totally. Also China banned bitcoin because they want to make the popularity for their own digital coin named Digital Yuan.. But people are not interested in it as China controls the currency and I read the currency works like a stable coin.. So there is no advantage from it.
On the other hand, the US keeps regulating crypto currency there. If you are from the US and try to trade any crypto then you need to pass KYC first from the exchange you want to trade.. Also the exchange must be a US centralized exchange like Coinbase, Binance US etc. As far as I know, there is a chance to trade on other exchanges too but if you get scammed on those exchanges then US security will not help you to get the funds at all.. So the best thing for US citizens is trade with those exchanges that their country allows. But when you go for trade with their centralized exchange, you need to give them a portion of the fee. The fee is around 5% of total trade, I think. In fact, your every trade history there will be recorded and you can't escape from their fee and tax..
As we all know the crypto adoption has not started yet but look at the crypto regulations as it has already started and they have become successful too. Different countries keep banning crypto and it will continue.
Also there is another point. Suppose the crypto adoption was done worldwide and the government failed to regulate it. But still they will not stop to protest it. They will increase the price of everything with high tax that we will buy via crypto. Then where is decentralization finance..
We are getting fooled by whales who are using crypto, escape from taxes and increase their wealth. Later they will down crypto when they reach their target.
So what is your thought about decentralized crypto finance?
Remittance is the main reason why EI Salvador accepted bitcoin!
Most of the time in an underdeveloped country the main economic source is remittance from the citizens. And the portion of remittance helps the country to update different development issues. But when the remittance portion goes under tax or fee, this becomes bad for Expatriates. And this is what EI salvador people facing for a long time and this is why finally Nayib the president of EI Salvador take action about this.
You will be surprised to hear that almost 20% of the total GDP of EI Salvador comes from remittance. And almost 1.8 millions expatriates sent remittances from different countries. And the total amount is around 4 billions dollars annually. Can you imagine this? But sadly, a big portion of this remittance goes to bank and tax officers. This is why many expatriate families face money problems as their main source of money comes from remittances. So finally president Nayib is going to have a solution to this.
According to this issue, last 26 June El Salvador congress held a meeting and passed the legal tender of bitcoin. Because they believe bitcoin is the only way how they can solve this remittances issue. As like i have said in my previous topics that Bitcoin made for peer to peer electronic money transfer and to transfer this money, none need third person to process the transaction as like we need third person in bank. So if EI Salvador made a legal tender there of bitcoin, expatriates can easily send remittance from another country without any tax or fee. Also they can send it within minutes rather than the bank which takes up to one day to send the remittance.
As the last 7th of September EI Salvador passed the legal tender of bitcoin successfully, they started to set up enough ATM machines there to buy or sell bitcoin instantly. Around 1500 ATMs of bitcoin are already set up in EI Salvador, especially for those who send remittances from other countries. This might be the best step from EI salvador for the expatriates.
Anyway, the bitcoin legal tender will not be helpful for the remittance issue only but this will be helpful for everyone living in EI salvador. Because a large part of profit now comes from Crypto trading and if there people are able to learn trading properly then they can easily gain profit like a Nigerian trader is getting now. Also they can buy bitcoin and store it for future saving which will surely give them more profit than saving Fiat money which is full with inflation. But bitcoin has no inflation because it has a limited supply of only around 21 millions. And the demand keeps increasing day by day as the whole keep accumulates it and sends on hardware wallets.
So how do you see the step of EI Salvador in the case of Bitcoin legal tender?
Crypto is helpful for whales!
The crypto journey started due to the government's rated tax rate. There are many cases where a multi millionaire faces a lot of problems due to tax issues. And this is what makes them feel so bad about the government because they earn money with their hard work, while govt just take away their money without any reason. And if they don't agree to pay tax then a government issue comes to them. For this reason they want to get rid of the tax issue but they did not find any solution to this. At last, in 2009 Bitcoin was invented which is called crypto currency and god of crypto.
This is the bitcoin which indicates the financial freedom for whales or multi millionaires as the bitcoin transaction system is totally decentralized and a peer to peer electronic money transfer system. Where they do not need any third person to process their money transaction as we need for bank money transfer. So with bitcoin they start to escape from the government tax issue. Because if you want to transfer Billion dollars within a minute then it will cost you only $10 less but if you go to Bank to transfer this billion dollars? The process will take a long time plus the transaction fee will be much higher than bitcoin transaction. Also the government will start an investigation against you. This is dangerous for Billionaires.
So they come under a system where none will be able to trace the money they have or stored. And from the system they keep transferring billions and billions of dollars without government permission and become more rich. This is helpful for a multi Millionaire but a loss for the government. This is why every time the government hates bitcoin and crypto currency, they keep banning it. Except in some countries, crypto is treated so badly. If you look to the US, you will see there crypto is legal but their citizens have no freedom to use it. Because every time they have a limit to buy crypto from their centralized exchange and pay tax according to their amount. Leave this topic!
**Will crypto be helpful for normal people?**
This is the most common question from normal people because they do not know what financial freedom is because they never faced tax issues from the government as they earn so little which is less than they need to spend in their family. So thinking about tax and financial freedom, is really stupidity and this is the reality too. Normal people do not think about finances but they want a peaceful life. While billionaires want to have a system where they can spend their money with their own wishes without any government permission.
This is why billionaires now come with the system of crypto currency and sharing the wrong thought to people like us about financial freedom via crypto adoption. Recently Bitcoin became the legal tender in EI Salvador but this is not helpful for normal people. Because bitcoin or crypto will not give them extra profit or facilities but this will lead them to face problems more than cash inflation. Because Bitcoin is volatile and whenever they store bitcoin up to 1000 dollars and bitcoin price drop down too much. So their 1000 dollars investment will surely go down. So normal people can afford this? No, they can't.
So why do normal people need financial freedom? Crypto currency is not the term of financial freedom. In fact, we normal people already have financial freedom. Because we do not earn money in an illegal way. But billionaires have no financial freedom because they own more money than they should own. This is not helpful for the government. So the pressure on them to adopt crypto is more important than us. This is the reason why we should not rush on crypto adoption.
Because still the whole crypto community and market is controlled by some powerful person in this world. And if they want, they can destroy this total crypto ecosystem within a short time. You may think this is not the reality but this is true. The US has already started to control Crypto and they keep searching on how to control it. Because this is a threat for centralized finance and for normal people. And as the government, they have this responsibility to control this scam.
Crypto saves billionaires money and make them more richer but normal people become more poorer
Government hates Bitcoin and crypto.
Bitcoin is the first crypto currency which was created in 2009 by an individual group called Satoshi Nakamoto. It was created for peer-to-peer electronic money transfer where there will be no third person to control the money transaction. What does the third person mean? Suppose you are going to send money from your country to another country via a bank and the bank will process your transaction. Here the bank is the third person who keeps all the records of your transaction. But Bitcoin does not follow this. It has its own rule which is peer-to-peer money transfer between buyer and seller only.
Over the last decade, there was not enough awareness about bitcoin and crypto. But recently from 2017 to now crypto is the major financial issue in this whole world and Bitcoin is a threat for them. Because of bitcoin adoption, use case, popularity and stability of funds security. As Bitcoin shows you decentralized finance or shows you how to be financially free , this has become a threat for the government now. But how? Let’s discuss a few topics.
**TAX ISSUE**
Bitcoin and crypto is the only way to avoid the tax problem if you are a millionaire or billionaire. Because in this decade the tax problem has become the major problem for rich people. If you want to feel the effects of tax then you should search for John McAfee who has invented anti virus for computers. He has been prisoned due to tax issues from the US government and died in the prison too this year. This is just one example but there are many stories about tax again. And Bitcoin can solve this issue and no one will need to pay tax to the government again nor face tax.
The problem comes from the government now is that if they can not take tax from people then how will they take control over us? The situation has become like this: “ Not your keys not your money”. So if the government is not able to control our money, they will not be able to control us. This means we will have financial freedom. But the government will not let this happen ever.
But why do they hate bitcoin? Because bitcoin is the major crypto till now and it will be adopted worldwide. All over the government know this well and some of them have already adopted crypto as they know well, they can not protest this. But there are some countries available who will not let this happen, Such as China. China has banned bitcoin mining and all the trading this year fully because this is a dangerous threat for their centralized finance. To avoid this decentralized coin, China created Digital Yuan which will work like Bitcoin as they said but mostly this is called stable coin. And this is a centralized coin. They thought people would choose this but the reality is different. Why should people choose a centralized coin when they have a choice for a decentralized coin? This is the reason why China banned Bitcoin. They do not want to introduce themselves with such coin which will go against their centralized finance.
**Illegal activity**
If you are a crypto lover, I am pretty sure you know crypto is the main source to pay for those illegal activities. And Bitcoin is the most used coin in this case. I read over the past years that the use of Bitcoin for illegal activities has increased. Illegal activity usually means drugs supply, crime, dark web crime and more likely terrorist activity. So this became a major point of burden for the government to accept Bitcoin. Also there is money laundering crime. Because you know in a bitcoin transaction there is no third party who will control you. So if any criminal wants to do money laundering then he can easily do this.
And there are many reasons why the government does not want to accept bitcoin and keep banning it.
Thanks for reading!
Introduction post!
Hello, read cash blogger! Here is me, ASUSTUFGAMING. Are you guys confused with my name? If you do, I like it. I am a game lover and a lazy writer. Half of the day I love to play games online like PUBG, GTA series game, Clash Of Clan, car racing game and so on. During my free time, apart from gaming time, I like to blog on different platforms. Such as LEO finance, Hive blog, BeerMoneyforum and a few more. I especially talk about crypto currency all the time and there are mistakes with my words too but still I discuss it with everyone. My most favourite crypto discussion forums are Bitcointalk, Cryptotalk, Altcoinstalk. From these three forums, I am super active on the last two forums and there my account ranked as a Senior member.
I am an early user of crypto and came late on crypto. So I already missed great projects like ETH, BTC, BCH. But this is not a big problem yet because the adoption of crypto just started. If you look at the chart of Bitcoin price or ETH price then you will see how the price increases day to day. Anyway, as this is my introduction post, I am not going to talk much about crypto now.
I am not sure if I will get enough support here or not because most of the time I will go for crypto related topics. And I am pretty sure most of the users here will not like it. Because when i was new in crypto, i felt bored too about crypto. Even skip every article which looks hard to me, like I skipped my Math chapter 😎.
I am kinda like an introvert boy in real life but I am super talk active online. So if anyone here comes to talk with me, he will feel annoyed with me. But I will treat them as my good friends.
I will see you guys in my next article tomorrow!
Thanks for reading!
@ASUSTUFGAMING