Psychology of Money

@psychologyMoney_Tg

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India, English

Psychology of Money

23 Nov, 20:30

3️⃣ tactics whales use to manipulate the market.
Part 1

🟢Pump and dump.
Whales possess enough means to artificially influence price.
And since the exchanges have no restrictions on token purchases, this tactic is used frequently.

🟢Whales make large purchases, which leads to an increase in price and "green candles".
Sometimes those buying actions stretch over several days.

🟢Large demand arises, everyone starts talking about it and the FOMO (fear of missing out) appears.
And as soon as the price rises high enough in their opinion, they start dumping.

👉The waves maximize profits as the new investors think the dips are temporary.
Yet in the end, all the whales leave the market, abandoning everyone to their fate.

This tactic is successful with promising coins.
🟢👉Those who sold everything in a panic remain with nothing, and those believing in the project and holding coins until the end can recoup losses.

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Psychology of Money

21 Nov, 20:38

Crypto speak: Doxxed

In the cryptocurrency world, the term “fully doxxed” means that a person’s identity in the real world has been revealed publicly, either through a leak of personal information or intentional distribution. Depending on the individual or project, this issue is a point of contention, as many people use cryptocurrencies to remain anonymous.

The term “doxxed” comes from the word “docs,” which is short for “documents.”

However, sometimes, doxxed can also be used positively—e.g., when discussing the founders of an NFT collection. If the founders of an NFT project are doxxed, it’s a good thing because it means that anyone can get to know their story and background, which adds to the transparency of the NFT collection.

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Psychology of Money

20 Nov, 20:37

What is play-to-earn, and what do I need to know about it?

The blockchain industry has had a profound influence on many aspects of our lives over the past few years. In the gaming sector, blockchain technology introduced a brand-new form of entertainment.

Gamers will be familiar with a modern concept of gaming, called pay-to-play, which means you have to buy the game to play. However, blockchain made possible a new gaming model called play-to-earn (P2E), where gamers can earn crypto or NFTs by playing the game.

Although the idea sounds promising on paper, the reality is that it isn’t simple or easy to earn significant sums from P2E games. Many projects require large up-front costs, others are aggressive and unfair with their tokenomics, and some are outright scammers.

Want to see what a P2E game looks like, without coughing up money? We’ve put together a list of free P2E games that don’t require money down to start playing, giving you a chance to start earning right from the get-go.

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Psychology of Money

18 Nov, 17:45

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How many accounts are you farming this one with

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Psychology of Money

17 Nov, 21:17

Forward from: WTF - What The Fact ⁉

🔴You can buy cryptocurrency on exchanges: centralized (CEX) or decentralized (DEX).

➡️CEX exchanges are run by organizations that oversee all transactions and provide maintenance and security. User tokens are stored on exchange wallets. There is a commission for trading. When registering, you need to confirm your phone number and email. For work, as a rule - pass KYC / verification: confirm your identity with a passport / international passport / driver's license. Many of these exchanges make it possible to buy tokens for fiat (rubles).

➡️DEX exchanges work differently. They exchange coins without intermediaries. There is a fee for the exchange. Registration is not required here, to use it you need to connect your wallet (click connect wallet and enter the wallet password). Coins will be transferred from wallet to wallet. With each transaction, the wallet will ask for permission to confirm the operation. DEX is harder to use.

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Psychology of Money

16 Nov, 20:03

📈How To Do Your Own Analysis?
⠀
Friends, we have a lot of newbies who are just starting out in cryptocurrency. So I decided to make a post about how to do your own analysis of projects. In other words - DYOR (Do Your Own Research).

One post will not reveal in details all the aspects we need to take into account when analyzing. I plan to do a second post like this, but it will depend on what assets you show under this post. It's up to you.

Below we break down the main metrics for DYOR.

✅Project website

On the website, you will always be greeted with a brief squeeze of the project. Be sure to read the white paper to learn all the basic details:

• What is the project?
• What are its benefits?
• What opportunities does the project offer?
• The project roadmap.

When analyzing the roadmap, pay attention to whether the project is on track. If it is lagging behind, it indicates some difficulty in implementation.

️ ✅Funds

Funds are analyzed to see who is acting as the guarantor of the project's success?

🟢It is important:

• Which foundations have already supported the project?
• What successful cases do these foundations have?
• Will the funds be interested in further development of the project and its token?

Having good funds "on board" increases the likelihood that the launch will be successful and the project will have a better chance of getting support from new investors in the future.

A resource for fund analysts and where they invest is Chain Broker

✅Community and Social Media

You need to gauge the excitement around the project and audience engagement.

🟢Important:
• How active the project's social networks are: Telegram, Twitter, Discord, Medium, GitHub, and so on.
• How involved is the team in maintaining social networks?
• Ambassador Program. Is it active or does it only have a name?

When analyzing social networks, you need to assess not the number of subscribers, likes and reposts, but how active the audience is among themselves. You can write any question in the discord chat and see how quickly you get an answer.

🟢Also, importantly:
• Who is doing the reposts? If they make them "real people" and not bots it is a definite plus.
• Who among the major projects and celebrities is a Twitter follower.

In order to keep track of who is subscribed to the most "important people" and projects, there is a
special resource - CoinGuru.io

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Psychology of Money

14 Nov, 20:28

🟢What Makes a Cryptocurrency Holder a “Whale”?

➡️While whales are individuals or entities who hold a large amount of cryptocurrency, there is no fixed amount of crypto assets someone must hold to be considered a whale. The term is relative and depends on the specific cryptocurrency in question.
A crypto holder can be considered a whale if they hold a significant percentage of the total supply of a particular cryptocurrency and are able to impact price movements by making trades.

➡️To put this in perspective, someone who holds $1 million worth of an asset with a market capitalization of $100 million is a whale, while someone who holds $1 million worth of an asset with a market capitalization of $30 billion may not be considered a whale. While they each have $1 million in crypto assets, the former has more power to move markets than the latter.

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Psychology of Money

12 Nov, 18:14

Mystery of Gas Prices

Gas prices are the engine that drives transactions in the Ethereum ecosystem. They represent the fees users pay to execute transactions or interact with smart contracts. Think of it like tipping for faster service,the higher the gas price, the quicker miners process your transaction.

However, finding a balance is key. Pay too little, and your transaction might stall; pay too much, and you’re wasting resources. As Ethereum’s network experiences congestion, gas prices fluctuate, so staying alert to these changes can help you optimize transaction speed and cost.

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Psychology of Money

11 Nov, 18:10

Trading Bots to Automate Your Strategy

In the fast-paced world of crypto, staying ahead can be a challenge. Enter trading bots—automated software that executes trades 24/7, so you don’t have to. Let's see how they work, and should we consider using one.

Trading bots analyze market data, identify signals, and make trades based on your pre-set criteria. With their ability to automate and manage trades efficiently, you can seize opportunities without needing to constantly monitor the market. Features like backtesting and risk management let you tailor bots to fit your strategy and risk appetite.

For example, a trader using a trend-following bot could capitalize on rising markets by executing profitable trades. And when the market shifts, the bot adjusts, minimizing losses and protecting your capital.

However, keep in mind factors like market conditions, technical issues, security, customization, and fees. A bot that works in one market might falter in another, and technical glitches can cause unexpected losses.

Trading bots are a powerful tool, but understanding their limitations is key. Use them wisely to boost your trading strategy and stay ahead of the curve!

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Psychology of Money

8 Nov, 20:29

Why Fundamental Value Matters

In the fast-paced world of crypto, it’s easy to get swept up in hype. But smart investors know that a cryptocurrency’s true value lies in its fundamentals—its intrinsic worth, not just the market price. Think of it like buying a house; you want to assess the real value, not just the listing price.

Fundamental value is made up of core factors such as utility, technology, tokenomics, team credibility, community engagement, market position, regulatory alignment, historical performance, and economic stability.

Take Bitcoin as an example. Its fundamental strength stems from:

- Utility as both a store of value and a medium of exchange
- Robust blockchain technology providing unmatched security
- Scarcity through a limited supply, rewarding holders
- Committed community and development team
- Widespread adoption and global recognition

Assessing these aspects helps investors identify which cryptocurrencies have solid fundamentals and potential for growth. Conversely, a token with limited technology, weak backing, and little adoption may not have lasting value, no matter the current price tag.

Understanding fundamental value helps you navigate the crypto market confidently, discovering hidden gems beyond the hype.

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Psychology of Money

4 Nov, 20:56

How much Bitcoin is there in total?

Bitcoin was created so that the maximum number of coins is 21 million. More than 19 million BTC have already been mined.

The last Bitcoin, according to calculations, will be mined in 2140. After that, payments to miners will stop.

Formally, there are more than 19 million BTC mined in circulation. But several million coins have never been transferred to other addresses, so they are considered lost.

When all 21 million Bitcoin is mined, miners will no longer receive a reward in the form of new Bitcoin, but they will still earn transaction fees. These fees serve as an incentive for miners to continue verifying transactions, ensuring the security and integrity of the Bitcoin network.

But you and I, most likely, won’t be able to communicate with miners from 2140 to find out how profitable mining of the 22nd century is😅

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Psychology of Money

2 Nov, 21:41

Protect Your Crypto: Wallet Security Reminder

Your cryptocurrency wallet is like a vault for your digital assets. Just as you'd protect a physical safe, securing your wallet is vital to avoid theft and loss. With crypto transactions being irreversible, even a small lapse in security can lead to devastating consequences.

Imagine if a hacker accessed your wallet—your funds could vanish instantly. But with the right precautions, you can safeguard your assets:

- Store long-term holdings in cold storage, like keeping valuables in a secure vault.
- Use two-factor authentication (2FA) to add a layer of defense against unauthorized access.
- Keep your wallet software and firmware up to date with the latest security enhancements.
- Avoid using public Wi-Fi for transactions to minimize phishing risks.
- Stay informed about common scams to outsmart hackers.

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Psychology of Money

1 Nov, 22:27

Forward from: WTF - What The Fact ⁉

Why do I need diversification?

Asset diversification is an investment strategy in which you allocate your assets in various areas to minimize the risk of loss.

If one of your coins in your portfolio starts to fall, your portfolio can remain stable (or even show profits) at the expense of other coins.

In crypto, diversification is crucial.

Since digital assets are extremely volatile, investing in just one coin can cause huge losses.

Moreover, it is recommended to diversify even stablecoins—just in case one of them suddenly collapses—you don’t lose all your money.

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Psychology of Money

1 Nov, 15:29

🔥 DYOR: Why Is It So Important?

Cool Fact

In 2023, crypto investment scams in the U.S. alone totaled $3.94 billion.

What is DYOR?

🔵DYOR stands for "Do Your Own Research." It urges investors to thoroughly investigate a crypto project before investing.

🔵This means reading the whitepaper, understanding the technology, and evaluating the team and market potential. It's like doing your homework before a big exam.

🔵In the volatile crypto market, informed decisions are crucial to avoid falling for hype, fake news, or scams.

Why Do You Need It?

🔵Mitigating Risks: Understand the risks and make informed decisions.
🔵Spotting Scams: Identify red flags like unrealistic promises and lack of transparency.
🔵Maximizing Gains: Invest early in projects with real potential.
🔵Building Confidence: Stay calm during market downturns and avoid panic selling.

Summing up

🔵Verify information from

multiple credible sources. Take the time to DYOR to avoid losses and make profitable investments.

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Psychology of Money

26 Oct, 22:20

📌Basics of Trading on Crypto Exchanges

What is Trading?

Trading on a crypto exchange involves buying and selling cryptocurrencies with the aim of making a profit, similar to trading stocks or foreign currencies.

Key Concepts

🔵Buying Low, Selling High: The main goal is to buy a cryptocurrency at a lower price and sell it when the price increases.
🔵Market Orders vs. Limit Orders:

🔵Market Order: Executes immediately at the current market price. Like buying something at the listed price without waiting.
🔵Limit Order: Executes only when the price reaches a specific level you set. Similar to setting a price you’re willing to pay and waiting until it’s met.

🔵Trading Pairs: You trade one cryptocurrency for another, like exchanging dollars for euros.
🔵Volatility: Crypto markets are highly volatile, meaning prices can change rapidly. Think of it like the stock market but with more frequent and larger price swings.
🔵Technical Analysis: Traders often use charts and indicators to predict future price movements. Similar to using a map and compass to navigate through unknown territory.
🔵Stop-Loss Orders: A tool to limit potential losses by automatically selling a cryptocurrency if it drops to a certain price. It's like setting a safety net to prevent significant losses.

Important Tips

🔵Start Small: Begin with a small amount to underst

and how trading works without risking too much.
🔵Research and Analysis: Study market trends, news, and technical analysis before making a trade.
🔵Diversify Your Portfolio: Don’t put all your money into one cryptocurrency. Spread your investments across different coins to reduce risk.

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Psychology of Money

23 Oct, 22:04

📌How to Choose a Crypto Exchange

Why Is It Important?

Choosing an exchange is similar to selecting a financial advisor or a bank. It affects not only the safety of your funds but also how effectively you can trade and manage your investments.

Key Factors to Consider

🔵Reputation and Reviews: Trusted sources and community feedback can offer valuable insights.

🔵Security Measures: Look for exchanges that offer two-factor authentication (2FA), cold storage of funds, encryption, and insurance against theft.

🔵Fees Structure: Similar to comparing service charges between banks, compare the fee structure of various exchanges. This includes not just transaction fees but also withdrawal fees, and how they change with different trading volumes or cryptocurrencies.

🔵Payment Methods: Like the variety of payment options at a supermarket, check what payment methods the exchange accepts. This can include bank transfers, credit/debit cards, PayPal, and other digital wallets.

🔵Geographical Restrictions: Some exchanges may not operate in your region. Verify that the exchange is available in your country and supports your local currency.

🔵Liquidity: High liquidity is like a busy marketplace; it ensures you can buy and sell easily without affecting the price too much. An exchange with high liquidity provides better price discovery and faster transaction execution.

🔵Regulatory Compliance: An exchange that follows regulatory guidelines is more likely to be reliable and secure.

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Psychology of Money

21 Oct, 19:16

✅Cryptocurrencies look to offer several benefits over traditional money.

➡️These include:

➡️Speed: With cryptocurrencies, sending money – or value – across regions or continents happens in a few minutes. This trumps traditional cash, which takes hours to days in some cases.

➡️Security: Cryptocurrencies run on blockchains, which are distributed and decentralized. Since they are not centralized, there’s no single point of failure. This makes the blockchain harder to corrupt or hack.

➡️Censorship-resistant: Anyone can use cryptocurrencies. They offer users financial freedom. No government or central authority can censor or reverse a transaction once it’s completed

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Psychology of Money

20 Oct, 20:14

What is Liquidity and How Do Liquidity Pools Work in DeFi?

🔵 Liquidity refers to the ability to quickly exchange assets without significantly affecting their price. In the world of DeFi, liquidity is crucial as it ensures the smooth operation of decentralized applications (DApps) and decentralized exchanges (DEX). But how does it work?

🔵 Liquidity Pools are smart contracts that hold pairs of tokens (e.g., ETH/USDT), allowing users to easily swap one token for another. These pools are created by users who deposit their assets into the pool in exchange for rewards.

How do liquidity pools work?

🔵 User Contributions:
Users deposit tokens into a liquidity pool and receive LP tokens (Liquidity Provider tokens) in return, which represent their share in the pool.

🔵 Swapping:
When someone wants to swap one token for another, they use the liquidity from the pool. In return, the pool charges a small fee, which is distributed among liquidity providers.

🔵 Rewards:
Liquidity providers earn income from a portion of the fees collected for each transaction in the pool. The more transactions, the higher the potential earnings.

🔵 Risk of Loss:
It's important to be aware of the risk of impermanent loss, which occurs when the value of the tokens in the pool changes significantly.

🔵 Conclusion:

Liquidity pools are a key part of the DeFi ecosystem, providing users with an easy way to exchange assets. Participating in pools can generate income from fees, but also comes with certain risks.

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Psychology of Money

19 Oct, 19:22

What are Crypto Stealth Addresses & How do they work

Stealth addresses are revolutionizing privacy in blockchain transactions, offering a more secure way to obscure transaction history. Unlike traditional public addresses that can be traced, stealth addresses create a one-time address for each transaction, enhancing the confidentiality of digital currency transfers. This work in the following steps:

1. Stealth Address Creation: The recipient, say Bob generates two cryptographic keys: a public key (shared with Alice) and a private key (kept confidential).
2. Transaction Setup: Alice uses Bob's public key to create a unique address for their transaction, unlinkable to Bob’s public blockchain address.
3. Sending the Funds: Alice sends cryptocurrency to this one-time address, posting an ephemeral public key for Bob on the blockchain.
4. Receiving the Funds: Bob decrypts the stealth address using Alice’s cryptographic information and accesses the funds securely.

This process, powered by the Diffie-Hellman key exchange protocol, ensures that transactions remain anonymous and untraceable, providing an extra layer of security in crypto transfers.

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Psychology of Money

17 Oct, 20:51

Crypto speak: FUD😱

When trying to read the overall sentiment of the crypto market, some like to spread FUD, which stands for “Fear, Uncertainty, and Doubt.” Pundits, journalists, and random internet denizens often spread negative news, criticisms, or rumors about a project, and this creates FUD.

✅The central goal of FUD is to create so much panic among investors that it crashes the price of a cryptocurrency💰

FUD is not exclusive to crypto; it can be applied in any industry. However, the crypto world is rife with FUD, so if you’re following a crypto whose price suddenly tanks, it doesn’t mean the project is going belly up.

It’s entirely possible that the project was a victim of FUD.

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