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Anything related to bitcoin, crypto, blockchain

SheikhNaveed

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While reading forum yesterday I came to read a post by MJ where he was appreciating a non-digital product made by a guy here on forum. From days, I'm confused with the scale and time factors of CENTS.

Today, I've tested a market of home-based carwash service using facebook ads. While I was planning to start that business I was thinking somehow I have to give it time while doing it's marketing and CS.

On the other hand, I am working on upwork for last 7+ years, and working their seriously violates fastlane because you don't have CONTROL over their policies and you have to trade your time for dollars. I'm still unsure either that business can be SCALED or not. Also, if that business can be scaled than what's the difference between a CENTS based business and a conventional business.

On the third side, I'm learning a day trading of cryptocurrencies but again the time factor confuses me as I will have to give time there even if I automate the system somehow. Also, I don't think it can be scaled.

This is a long story short of my confusions. Can somebody please comment on these factors and make my mind clear so that I can go into a perfect CENTS based business?
 
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Nik@16

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It's one of the hardest commandment to achieve and I think people should always think of this commandment as a goal and not a way to create money because it makes people confused. People think that they can make money without working which is not true . The only possible reason for this commandment to work is if you have Warren Buffett as an Investor or You are JK Rowling or JD Salinger type of writer.
 
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InspireHD

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Daytrading is scaled through increasing your position size. For example, when I was daytrading crude oil futures, I would only trade 1 contract at a time. When/If I ever became profitable, I could then trade 2. The market could absorb 2 contracts without any slippage. Then 3, then 4, then 5, and so on. Profits would scale, but so would losses. If 1 contract netted you $200, then two would be $400, three would be $600, etc. If you can find one profitable trade per day netting $600, you'll have a great month.

The problem with daytrading is that it's very difficult. If you're deciding between two or three different business ideas, go with the ones that are not daytrading. It doesn't mean you can't come back to it.

On the other hand, if you are good at it, you could literally make your goal in the first couple hours of the market being open and then go out and enjoy the rest of the day.

*I have no idea how cryptocurrencies work. My advice is strictly related to the stock market or other common regulated markets.*
 

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