Viewing a response to: @musing-threads/ak2y4zhnc
<a href="https://musing.io/q/gregorygory/fk64j57xx"><b>Do we have different types of people in cryptocurrency business?</b></a><p></p>
author | gregorygory |
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permlink | fk64j57xx |
category | musing-threads |
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Yeah we have different types of people in the cryptocurrency business,some people are just optimistic types that do the business without no analysis,they just do the business without any form of analysis to back up their trading decisions when doing the cryptocurrency business,all they just do is buy and just remain optimistic that the price of the cryptocurrency will rise and they just keep their fingers crossed...another type of people in the cryptocurrency business are the ones that they are good at creating analysis on the cryptocurrency market,they are good at making good trading decisions but they do not have enough capital to invest in other to make huge amount of money from the cryptos which they invested on,...another type of group of people in this cryptocurrency business is the ones that have people who help them to manage their cryptocurrency portfolios,these set of people do not have any idea about the market neither do they know how the investment manager is managing their investment on the cryptocurrency market,all they just want is to hear and collect profits on their investment,these set of people usually set target for the investment manager..
author | caroweyrey |
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permlink | fkqjle3q5 |
category | musing-threads |
json_metadata | "{"app":"Musing","appTags":["Crypto"],"appCategory":"Crypto","appBody":"Yeah we have different types of people in the \n\ncryptocurrency business,some people are just \n\noptimistic types that do the business without no analysis,they just do the business without any \n\nform of analysis to back up their trading decisions when doing the cryptocurrency business,all they \n\njust do is buy and just remain optimistic that the price of the cryptocurrency will rise and they just \n\nkeep their fingers crossed...another type of people \nin the cryptocurrency business are the ones that \n\nthey are good at creating analysis on the \n\ncryptocurrency market,they are good at making good trading decisions but they do not have \n\nenough capital to invest in other to make huge amount of money from the cryptos which they \n\ninvested on,...another type of group of people in this cryptocurrency business is the ones that have \n\npeople who help them to manage their cryptocurrency portfolios,these set of people do \n\nnot have any idea about the market neither do \n\nthey know how the investment manager is managing their investment on the cryptocurrency \n\nmarket,all they just want is to hear and collect \n\nprofits on their investment,these set of people usually set target for the investment manager..","appDepth":2,"appParentPermlink":"fk64j57xx","appParentAuthor":"gregorygory","musingAppId":"aU2p3C3a8N","musingAppVersion":"1.1","musingPostType":"answer"}" |
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They are roughly three types of people that buy cryptocurrency: Traders HODLers (a variant of the above) Cryptocurrency users This is a good way to approach the problem. I shall use the same opening (Thank you, Vladislav). But the remainder of my answer is different⌠I will address #1 and #3, and then return to #2⌠#1: Speculators (short term) and Day Traders For these individuals, there is nothing to âgetâ. Because the do not plan to buy and hold, they perform a technical analysis of trends and recent news events. They do not research the fundamentals, nor believe in the underlying technology. (Incidentally, technical analysis is a foolâs errandâthe result is either dumb luck or a total loss). #3: People & Companies who buy or sell with Bitcoin What about cryptocurrency users? These are individuals and businesses that use Bitcoin to buy & sell goods and services, pay debts, compensate staff, purchase raw materials. We are still very early on the cryptocurrency adoption curve, and so all of the users who currently accept and spend Bitcoin probably âget itâ, but they donât really need to⌠They can accept Bitcoin, but demand that their payment processor instantly convert revenue into fiat currency. So, for category #3, it doesnât matter if they get itâbut most of them probably do! #2: Long term investors Here is where it gets interesting. As you suggest, these individuals have an intuitive recognition that something tangible and significant is brewing. They âget itâ. But what do they get? (I have not linked these âget itâ bullets to explanations or justifications. If you want supporting statements, check my recent Quora answers. Each point is addressed in my answers) They recognize that Bitcoin is backed by something more tangible than Dollars, Euros, Yuan or Pounds, even though it lacks intrinsic value or a redemption guarantee (the dollar has neither) They recognize that Bitcoin will not lose to a better implementationâeven though it is easy to copy, permissionless and open source They recognize that Bitcoin does not facilitate criminal activity (a popular, but false conception) They recognize that Bitcoin cannot be stopped by legislationThey recognize that Bitcoin is good for governments, even though it spells a day when governments will lose control over their own monetary policies They recognize that cryptocurrency does not interfere with a governments ability to tax, spend or enforce tax collection They recognize that even if Bitcoin never becomes a currency, it is still likely to become the worldâs âreserveâ currency. They recognize that even if Bitcoin never becomes a store of value, it will still displace payment, gift card and credit instruments. And because of a capped supply, this will create a rising, long-term supply-demand value. Incidentally, Bitcoin investors harm the ecosystem. (Yes! We are all hampering our goal!) Our activity retards the day that Bitcoin will gain the traction of critical mass. Thatâs becuase fungibility and stability (two necessary components of money) require that the fraction of trades driven by purchase, sales, salaries and debt settlement far exceed the fraction driven by traders and investors.
author | rebeccasal |
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permlink | p3r8z575x |
category | musing-threads |
json_metadata | "{"app":"Musing","appTags":["Crypto"],"appCategory":"Crypto","appBody":"They are roughly three types of people that buy cryptocurrency:\n\nTraders\nHODLers (a variant of the above)\nCryptocurrency users\nThis is a good way to approach the problem. I shall use the same opening (Thank you, Vladislav). But the remainder of my answer is differentâŚ\n\nI will address #1 and #3, and then return to #2âŚ\n\n#1: Speculators (short term) and Day Traders\n\nFor these individuals, there is nothing to âgetâ. Because the do not plan to buy and hold, they perform a technical analysis of trends and recent news events. They do not research the fundamentals, nor believe in the underlying technology.\n\n(Incidentally, technical analysis is a foolâs errandâthe result is either dumb luck or a total loss).\n\n#3: People & Companies who buy or sell with Bitcoin\n\nWhat about cryptocurrency users? These are individuals and businesses that use Bitcoin to buy & sell goods and services, pay debts, compensate staff, purchase raw materials. We are still very early on the cryptocurrency adoption curve, and so all of the users who currently accept and spend Bitcoin probably âget itâ, but they donât really need to⌠They can accept Bitcoin, but demand that their payment processor instantly convert revenue into fiat currency. So, for category #3, it doesnât matter if they get itâbut most of them probably do!\n\n#2: Long term investors\n\nHere is where it gets interesting. As you suggest, these individuals have an intuitive recognition that something tangible and significant is brewing. They âget itâ. But what do they get?\n\n(I have not linked these âget itâ bullets to explanations or justifications. If you want supporting statements, check my recent Quora answers. Each point is addressed in my answers)\n\nThey recognize that Bitcoin is backed by something more tangible than Dollars, Euros, Yuan or Pounds, even though it lacks intrinsic value or a redemption guarantee (the dollar has neither)\nThey recognize that Bitcoin will not lose to a better implementationâeven though it is easy to copy, permissionless and open source\nThey recognize that Bitcoin does not facilitate criminal activity (a popular, but false conception)\nThey recognize that Bitcoin cannot be stopped by legislationThey recognize that Bitcoin is good for governments, even though it spells a day when governments will lose control over their own monetary policies\nThey recognize that cryptocurrency does not interfere with a governments ability to tax, spend or enforce tax collection\nThey recognize that even if Bitcoin never becomes a currency, it is still likely to become the worldâs âreserveâ currency.\nThey recognize that even if Bitcoin never becomes a store of value, it will still displace payment, gift card and credit instruments. And because of a capped supply, this will create a rising, long-term supply-demand value.\nIncidentally, Bitcoin investors harm the ecosystem. (Yes! We are all hampering our goal!) Our activity retards the day that Bitcoin will gain the traction of critical mass. Thatâs becuase fungibility and stability (two necessary components of money) require that the fraction of trades driven by purchase, sales, salaries and debt settlement far exceed the fraction driven by traders and investors.\n","appDepth":2,"appParentPermlink":"fk64j57xx","appParentAuthor":"gregorygory","musingAppId":"aU2p3C3a8N","musingAppVersion":"1.1","musingPostType":"answer"}" |
created | 2018-07-14 10:41:00 |
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