Walking around in Chattanooga, TN I noticed lots of windows! This time she (Tess) was wearing a top.
I don’t know how you got in there, but it seems unfair.
So whatever the outcome of this election is, one thing is certain. We are a divided nation. Some people are blaming Trump for the death of their family members.
Some are pro-Trump and wearing the mask outdoors.
You have the true believers.
Polling volunteers taking all precautions.
Discarded masks litter the world.
Is it truth over lies? Or lies over truth?
Wandering around during the Covid 19 lockdown in Chattanooga, TN. Slowly the city is dying or going broke. Small businesses are closing their doors for good. People are out of work and one guy told me he is seeing more business burglaries. The kind of smash the windows and grab the loot burglaries. But there are signs of life.
You can ride the bus for free during the lockdown!
Sometimes you just have to take a nap in the sun.
No mask and no bra! Finally women are free?
Chattanooga is a cool city when it’s open and even when it’s closed. You can rent these bikes.
If you are in construction you can still work, because construction workers are apparently immune from the virus.
The coolest bike in Chattanooga!
Of course it will (in my opinion)! History has a funny way of repeating itself. Plus greed never fails. Eventually a big fat whale will want to take a big profit and voila! The price of Bitcoin takes a drastic drop, causing panic in the market place.
Usually the price drop is quick and swift. Then rising up several thousand dollars and making it’s way back up to the magical psychological number of 10,000.00 dollars over time.
How do we catch this drop and ride the big gain back up? Well if you have money just sitting around. You could put a limit buy order in and hope you get lucky. But that could be months or years to happen. So I guess we just hope that we are looking at the computer at the right time and pounce on the correction.
In the wild world of cryptocurrency we really don’t know what the future holds. Could China take control of Bitcoin with a 51% attack? Well, since the miners in China control 66% of the Bitcoin hashrate it is surely possible.
Even though Bitcoin has been around close to 12 years. The technology is still in the early stages of growth. Buyer beware!
That’s why diversification matters in investing. Never have all your eggs in one basket.
Imagine the stock market not offering pre-market and post-market trading, but open 24/7 and 365 days per week. Everybody was treated equal. Unfortunately brokers have an unfair advantage over the regular trader in the stock market.
Not so in the cryptocurrency market. There is one market worldwide that never closes. Log into your crypto brokerage account at any hour and you will see the real time prices of cryptocurrency. Anywhere in the world.
Make a crypto trade and have second thoughts about it? Well no problem worrying about when the market is closing or opening. Just adjust your trade when you want at any time of the day or night.
The cryptocurrency market never closes!
That’s the advantage in the cryptocurrency market.
Some thoughts on Tron cryptocurrency. Besides Justin Sun being in love with himself, which is not a bad trait to have. Justin Sun is an excellent (in the making) CEO and has a road map of where he wants Tron to go. Check out Tron’s website.
If you didn’t know, Justin Sun placed the record breaking bid to have lunch with Warren Buffett and it only cost him 4.5 million dollars. Justin Sun is thinking big and Tron is doing big things in blockchain and cryptocurrency.
Think about this. You can create the greatest blockchain and cryptocurrency in the world, but if it is to complicated to use, then what’s it really worth?
Apps in my opinion are going to win the cryptocurrency race to wide spread use. Why do you think Facebook wants a cryptocurrency?
Trons has apps or Dapps (decentralized applications) in the top blockchain rankings on Dappradar https://dappradar.com/rankings. Check it out.
When I think of Tron, I think of the old arcade game Tron or the movie Tron. Tron has a younger generation following. Tron is strong in gaming and gambling. Tron is an excellent branding name.
Justin Sun has an image problem. He’s brazen, cocky, handsome and rich. What’s not to hate. He’s out to win! Think of Jeff Bezos, but young. The Steemit and Hive fiasco definitely hurt Justin Sun’s image. Justin Sun needs an image makeover.
I stake Tron through Binance on the Ledger Nano S. I get paid every 24 hrs. Something to look into. I buy Tron on the Kraken crypto exchange.
1 Lack of discipline to properly do the research on the past prices of cryptocurrency.
2 Possibly you get into a rush and buy high, then panic and sell low.
3 Failure to fully learn how to place orders on exchanges.
4 Going all in and not having a cash cushion to “buy the dip.” Thus paying to much and missing an opportunity to dollar cost average.
5 Sending your cryptocurrency to a wrong address.
6 Failure to learn how to read charts.
7 Getting greedy and not taking a profit or loss.
8 Not following your gut instinct.
9 Trading with money you can’t afford to lose.
If you really want to make money trading cryptocurrency, then you will need to use all the tools at your disposal. Start slow and work your way up to bigger trades. Maybe you decide your not into day trading and just want to hold for the long term.
Above all, have Fun!
Sure we hear all the stories about crypto billionaires and people making fortunes buying crypto. But for the average investor, quality stocks are the less risk investment. Buying top quality USA based companies for your future nest egg is a proven winner. Cryptocurrency is still in the early stages of development and more a gamble. Bitcoin has been around for about 12 years, but go to your local supermarket and try paying for your groceries with bitcoin.
You either believe or you don’t in cryptocurrency. Not saying that you can’t make money playing the cryptocurrency market. But what would you rather be holding, Amazon stock or Bitcoin for your retirement nest egg?
Diversification is probably the smartest play. Make sure you have a solid stock portfolio and set aside some money to put into cryptocurrency if you believe in it.
Now I guess if we bought Bitcoin or Amazon when they first began, we could all pat ourselves on the back for our investing insight.
One way to invest in blockchain technology is by buying stock in companies like IBM, Walmart and other big companies that are using the blockchain technology for future business growth. IBM is developing blockchain technology for business. Walmart is already using blockchain technology for inventory control.
Bottom line is don’t make some crazy bet on the stock or cryptocurrency market expecting to get rich overnight. Do your research and make wise decisions.
To be clear on the subject of cryptocurrency wallets. There are many types. Some wallets you can install on your phone, computer and you can even print a paper wallet. But this article is about the way I protect my crypto investments with a hardware wallet.
The most popular hardware wallets are the Ledger and Trezor hardware wallets.
My experience is with the Ledger Nano S and will cover the basic function in this article.
Securing your cryptocurrency private keys off the exchange is a top priority. Because if you don’t have your private keys, then you really don’t own your coins (even though you paid for the cryptocurrency.) Also, it’s important to fully isolate your private keys from your easily hacked computer and mobile phone.
A hardware wallet is simply a high tech usb storage device that encrypts your private keys. Some wallets now have bluetooth.
With the Ledger hardware wallets you install a program called Ledger Live and the program communicates with your physical hardware wallet. You will have to create a 24 phrase backup and a pin.
Once the setup is done. You will be able to see a list of your coins that you send to your wallet in Ledger Live. I really like using Ledger Live, because it lists how much your coins are worth and how many coins you own. Plus you can track when your confirmations are complete.
Each crypto coin works at different speeds and different confirmations. Some coins might have three confirmations and other coins could have hundreds of confirmations. Confirmations confirm the transactions are legit or secure.
Until the confirmations are complete you can’t do anything with your coins.
Ledger live is where you install the coin apps and create coin accounts. So for instance if you bought bitcoin you would install the bitcoin app on your Ledger wallet and also create a Bitcoin account in Ledger live. The process is pretty straight forward.
Then when you decide to send your crypto off the exchange to your wallet. Ledger live would create an address that you would send your crypto to. Kinda like sending an email to a certain address. You just copy and paste the address.
It very important that the address is correct and you check it twice. Coins sent to a wrong address are lost forever.
You can also buy cryptocurrency from Leger live, but I’ve never used that service before.
The bottom line is you are your own bank with cryptocurrency. No one is going to do it for you. You must store yours coins off the exchange for ownership. Do it!
Ledger Hardware Wallet https://www.ledger.com/
Trezor Hardware Wallet https://trezor.io/
How to make a Paper Cryptocurrency Wallet https://walletgenerator.net/
My opinion is Coinbase Pro is a very good exchange to learn on. To be a successful trader in either cryptocurrency or the stock market you will have to master how to trade. You need to understand how to place market and limit orders just to name a few. Even if you are not day trading, Coinbase Pro is a better way to buy your coins. You control how much you’re paying and what the fees are. With some apps you can pay to much just for the convenience of pushing a button. Take control.
Setting up an account on Coinbase Pro is pretty straight forward. You will have to prove your identity and give them your banking account information. Coinbase will then make a small deposit to your bank account and then you verify the deposit. Once that is complete you can then transfer money directly from your bank account into your Coinbase Pro account.
My suggestion is start with a small sum, such as 100 dollars and practice trading. Once you learn how to trade, practice how to send coins between your exchange and your hard wallet.
Be patient and enjoy the learning experience. Expect to lose money in your learning process.