Bitcoin

SUPPORT THE SITE!
October Goal: £70.00
Donations so far: £30.00

hibadelic

Radge-a-Casblanca
So if something cost 1 bitcoin when it was 20 dollars what does it cost today?

Not sure how old bitcoin is but oldest conversion I can see is 1 bitcoin = £215 in 2015. Its currently about £26,000.

So some thing that cost 1 bitcoin in 2015 would now cost 215/26000 bitcoin (0.0083 bitcoin).
 

hibadelic

Radge-a-Casblanca
If something cost a bitcoin before the 30% drop what does it cost now? Does the price in Bitcoin fluctuate according to its value against the dollar?
Sorry, realised I didn't answer that. If it cost a bit coin before, it would cost 1.43 bitcoin after a 30% drop in value (presuming it was priced in Dollars.)
 

SuperTortolano

Legendary Radge
Bitcoin and the rest of the crypto market was all going to have a correction. Nothing goes up forever. I said as much earlier in the year and took my profits. I don't think the correction is done yet either, I see it dropping another 20-30% If you look at the big picture and long-term charts, it has rose astronomically.
 

Cabbageman

Well-Known Radge
Bitcoin and the rest of the crypto market was all going to have a correction. Nothing goes up forever. I said as much earlier in the year and took my profits. I don't think the correction is done yet either, I see it dropping another 20-30% If you look at the big picture and long-term charts, it has rose astronomically.
I didn't take any profits at all, probably a mistake but I'd rather be cautious than try and time it as I've fucked up trying to in the past. Picking up some good deals just now though :thumbgrin
 

SuperTortolano

Legendary Radge
I didn't take any profits at all, probably a mistake but I'd rather be cautious than try and time it as I've fucked up trying to in the past. Picking up some good deals just now though :thumbgrin

Still a good long term investment. Lots of growth for companies like Cardano, XRP and VET.
 

SuperTortolano

Legendary Radge
I still think XRP will outperform all of them when the shackles come off. Holding firm on that one. I was in at 0.19 too. Took a hard nose dive, but bouncing back. I swapped some bitcoin for XRP when it touched the 0.19 again. Cardano and Ve Chain are two others that I invested in.

Like you I think some will drop this year. Long term all have massive upside. Bitcoin probably the least.


XRP since I first tipped it at $0.20 is now trading at $1.17 Up over 500%

Cardano ADA Since the start of the year was $0.20 and now $2.75. Up over 2200%

Vechain since the start of the year. $0.02 and now $0.12. Up 500%

Safemoon which I predicted also was the loser of the bunch, losing 125% That one I did feel was a complete punt. The others above I still feel have some room to grow.

Other crypto I have researched that I like going forward I'll list below. I invested in these last month and already seeing big gains. I'll mark the price next to them and see where we are in a year.

Celer Network - CELR $0.045 This one I'm really BIG on. I think this has massive potential to make big moves upwards. That's my top pick from the list

Polkadot - DOT $26 Another one I like with great potential

Solana - SOL $76 This one has already shot up over 100% since I invested in it a month or so back. Again I see a lot of potential with this. Very undervalued.

I know some think crypto is crazy and refuse to accept it as an investment. I study the market pretty hard and try to keep an eye on the crypto currencies that are undervalued and go under the radar. Just bumping this for anyone that's interested.
 

Smurf

Auld Enuff Tae Know Better This Radge
I was discussing crypto with family members last night. And to be honest i found it hard to describe what it actually is! How would you explain it simply? And If you buy say £100 of crypto them obviously for your £100 you'll get whatever crypto you buy but where exactly does your £100 go?!!
 

SuperTortolano

Legendary Radge
I was discussing crypto with family members last night. And to be honest i found it hard to describe what it actually is! How would you explain it simply? And If you buy say £100 of crypto them obviously for your £100 you'll get whatever crypto you buy but where exactly does your £100 go?!!

You open up a crypto wallet from your phone or desktop. I use both Coinbase and Crypto.com, prefer the later. Once you have the wallet download, you can then buy cryptocurrency from your bank account.

If you buy a crypto that is let's say priced at 25p and spend £100, then you'll have 400 coins. No matter what, you'll always have that amount of coins in your wallet. The value will change based on the price of the crypto currency and will reflect that in your wallet.
 

Rocky

Well-Known Radge
I was discussing crypto with family members last night. And to be honest i found it hard to describe what it actually is! How would you explain it simply? And If you buy say £100 of crypto them obviously for your £100 you'll get whatever crypto you buy but where exactly does your £100 go?!!
I keep hearing that it's not as simple as this, but as far as I can make out your £100 goes to some guy who paid maybe £50 for the exact same coins. And your way of making a profit is to find someone who's prepared to pay, say, £200 for the same coins you paid £100 for and the guy before you paid £50 for. I'm genuinely struggling to understand how it's anything other than a pyramid scheme as the only money entering the system is money from people who are prepared to pay more for the same asset than someone else already has. Which to me means that once it runs out of people willing to pay more an enormous crash happens as people race for the exit and it becomes valueless. More than willing to be educated if that's not right though.
 

SuperTortolano

Legendary Radge
I keep hearing that it's not as simple as this, but as far as I can make out your £100 goes to some guy who paid maybe £50 for the exact same coins. And your way of making a profit is to find someone who's prepared to pay, say, £200 for the same coins you paid £100 for and the guy before you paid £50 for. I'm genuinely struggling to understand how it's anything other than a pyramid scheme as the only money entering the system is money from people who are prepared to pay more for the same asset than someone else already has. Which to me means that once it runs out of people willing to pay more an enormous crash happens as people race for the exit and it becomes valueless. More than willing to be educated if that's not right though.

The same can be said about stocks. You buy a stock that someone paid less for, or more. Crypto currency has a market cap where only so many coins can be produced, it isn't infinite.

Bitcoin and crypto currency are here to stay. This generation and future generations are investing in more crypto and less in the stock market. Eventually companies like Amazon will start accepting payment in crypto. Already companies like Expedia, Tesla and major precious metal dealers are accepting crypto as payment. It will move up and down like most investment ventures do.
 

Rocky

Well-Known Radge
The same can be said about stocks. You buy a stock that someone paid less for, or more. Crypto currency has a market cap where only so many coins can be produced, it isn't infinite.

Bitcoin and crypto currency are here to stay. This generation and future generations are investing in more crypto and less in the stock market. Eventually companies like Amazon will start accepting payment in crypto. Already companies like Expedia, Tesla and major precious metal dealers are accepting crypto as payment. It will move up and down like most investment ventures do.
No, the same can't be said about stocks. Money enters the system with stocks because companies produce things, make profits, those profits can increase and if they do people are willing to pay more for a share of that company / those profits.

Bitcoin is a closed system, it's just the same assets swirling around and the only way the value increases is if somebody tomorrow is prepared to pay more money for the exact same thing as somebody today bought.
 

SuperTortolano

Legendary Radge
No, the same can't be said about stocks. Money enters the system with stocks because companies produce things, make profits, those profits can increase and if they do people are willing to pay more for a share of that company / those profits.

Bitcoin is a closed system, it's just the same assets swirling around and the only way the value increases is if somebody tomorrow is prepared to pay more money for the exact same thing as somebody today bought.

A lot of crypto currencies are also high tech companies that are growing and will change the way currency is transfered. Companies like RIPPLE XRP and Cardano will play huge roles in the transfer of fiat and digital currency in the future. Bitcoin has been around for about 12 years now, I don't see it as a pyramid scheme.
 

Rocky

Well-Known Radge
A lot of crypto currencies are also high tech companies that are growing and will change the way currency is transfered. Companies like RIPPLE XRP and Cardano will play huge roles in the transfer of fiat and digital currency in the future. Bitcoin has been around for about 12 years now, I don't see it as a pyramid scheme.
Yes, blockchain technology and all the other technologies building out of crypto are here to stay. But that doesn't mean that holding XRP coins gives you a slice of Ripple's profits. That's like winding back fifty years and saying "I reckon those NCR cash machines are going to take off so I've bought a load of tenners".

I'm genuinely interested to understand how money is being made on cryto coins if it's not just somebody being prepared to pay more for the thing you own than the price you paid for it. I've still never seen a satisfactory answer so, much as I'd like to see it differently, it still looks like a pyramid to me.
 

Hammi

Top radge
Admin
Admittedly clueless

But there must be more factors than some random guy willing to pay more than the last guy? I dont know what those factors are, but it can't just be random.

Has to be a demand thing, like metals.
 

aggie

Justified Radge
Yes, blockchain technology and all the other technologies building out of crypto are here to stay. But that doesn't mean that holding XRP coins gives you a slice of Ripple's profits. That's like winding back fifty years and saying "I reckon those NCR cash machines are going to take off so I've bought a load of tenners".

I'm genuinely interested to understand how money is being made on cryto coins if it's not just somebody being prepared to pay more for the thing you own than the price you paid for it. I've still never seen a satisfactory answer so, much as I'd like to see it differently, it still looks like a pyramid to me.
I agree -- to my mind, it essentially trades on a form of FOMO (fear of missing out); some who were ahead of the curve will cash in handsomely, and plenty others want a slice of that action. Overall, the market in crypto is exhibiting classic bubble dynamics, imo.

Blockchain -- i.e. the underlying innovation, distributed ledgers etc -- is another question.
 

SuperTortolano

Legendary Radge
El Salvador is giving each citizen $30 in Bitcoin and using it as currency starting tomorrow. When huge financial institutions are buying up Bitcoin, that tells me that it's more than a pyramid scheme. Crypto is the future of finance IMO.
 

Rocky

Well-Known Radge
El Salvador is giving each citizen $30 in Bitcoin and using it as currency starting tomorrow. When huge financial institutions are buying up Bitcoin, that tells me that it's more than a pyramid scheme. Crypto is the future of finance IMO.
That's another false conflation of the payment mechanism with the speculative asset imo. Bitcoin may well become the future of payment transactions (seems unlikely considering its energy usage and slow transaction times) but that doesn't mean that bitcoins are an asset that'll inherently grow in value. When contactless payments came along you didn't see folk rushing out to acquire lots of cards with the aim of selling them for $100k each.

El Salvador are a special case anyway, with a U.S. dollar based economy. This move is essentially a play to get more dollars into the country imo.
 
Want to get rid of the ads?
Sign up For a Private Membership!
Click Here
Top