e_abrams

People lose millions to crypto scams every year, unfortunately. A lot of ICOs are just that - scams. It happens because there is very little proper regulation of the industry and because people rush to invest without doing proper research. Avoid that mistake to avoid being scammed.

If you are dedicated to learning how to trader, sooner or later you will succeed, I agree. But it does take a lot of effort and discipline and it is not an easy road. One has to be self-aware about that.

Crypto is changing the world and providing people with new opportunities, of course that makes it important, whatever problems the industry may have.

DeFi has a bright future, but at the same time it also has some serious problems. According to research reports, DeFi exchanges have contributed to 21% of the total volume of cryptocurrency related crime in 2020 – the shocking $99.2 million worth of assets have been stolen or laundered. That problem needs to be addressed and solved if DeFi is to have a real future, I firmly believe.

Oh that sounds like a pretty good source of information, thank you! Does it provide information on their regulation and registration?

I think most of us are here hoping to learn more about trading, currencies, forex, cryptocurrencies, etc. There is plenty of good information and helpful people here!

I know it's a casino that has been fined with some 400k euro for providing gambling without a license. It's not a good look for them to do so, I think. Casinos should follow the regulatory framework of the jurisdictions they operate in, and if they do not do so, how can anyone trust them?

I did not know that one, and it seems useful. Thank you for the heads up! I will check it out!

Trading does provide great opportunities to profit, but here are the cold, hard statistics - according to official financial regulator research, about 63% of traders lose money. It happens for many reasons - poor broker choice, poor training, poor timing, etc. but in the end of the day, most people lose money. So trading likely won't make you rich, not without many years of experience.

I think any kind of panic trading, be it buying or selling, tends to lead to losses more often than not. It's important to make all trading decisions on a perfectly clear head.

I confess I did not even realize there were Bitcoin songs, but now I'm fascinated by them and I am actively searching to listen more. 😄

I agree with everything you say. Regarding the last point, I think that bit applies especially to the smaller, less popular coins - they come and go so fast and the market is so oversaturated that it's hard to keep track of what is happening most of the time. For me it is, at least.

By the looks of it El Salvador may not be the only country to do the same. Panama also intends to legalize cryptocurrencies, namely Bitcoin and maybe even Ethereum. They intend to become the second country to do so. How long that will take to come to fruition, however, is unclear, but I imagine it will happen sooner or later.

Scams are a big problem for the industry. Be it related to exchanges or coins, the industry has a major issue with scams all over the world and the loose regulation further exacerbates the problem. I think, however, that once regulation strengthens and the industry matures the problem will lessen.

If I am conversing with a good friend online, I do not, not really. The pandemic taught me that a friend is a friend, even if we only see each other online.