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SuperTortolano

Legendary Radge
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.

Follow the money. Huge financial institutions are buying up Bitcoin and crypto. More and more places are taking it as a form of payment and it's not going away. I don't see it as a pyramid scheme at all. It will go up and down in cycles like most investments do. Right now it's still in a bull market and I think we'll see $100,000 Bitcoin with the next 12 months. I've done very well buying and selling crypto. Take profits and slowly cost averaging back in. Some people will buy high and get burnt, that's inevitable. Most investor's are patient enough to hold and buy when there's a bear market.
 

MSG_07

Well-Known Radge
Follow the money. Huge financial institutions are buying up Bitcoin and crypto. More and more places are taking it as a form of payment and it's not going away. I don't see it as a pyramid scheme at all. It will go up and down in cycles like most investments do. Right now it's still in a bull market and I think we'll see $100,000 Bitcoin with the next 12 months. I've done very well buying and selling crypto. Take profits and slowly cost averaging back in. Some people will buy high and get burnt, that's inevitable. Most investor's are patient enough to hold and buy when there's a bear market.
For a noobie, is there a particular app or website that can inform you of how to go about getting started with this?
 

SuperTortolano

Legendary Radge
For a noobie, is there a particular app or website that can inform you of how to go about getting started with this?

I'd use the apps Coinbase and crypto.com. They are well established and safe places to buy and store crypto. Once you have them downloaded, it's fairly simple to buy many different crypto's from there. Here's a video from YouTube that should help.

 

Rocky

Well-Known Radge
Follow the money. Huge financial institutions are buying up Bitcoin and crypto. More and more places are taking it as a form of payment and it's not going away. I don't see it as a pyramid scheme at all. It will go up and down in cycles like most investments do. Right now it's still in a bull market and I think we'll see $100,000 Bitcoin with the next 12 months. I've done very well buying and selling crypto. Take profits and slowly cost averaging back in. Some people will buy high and get burnt, that's inevitable. Most investor's are patient enough to hold and buy when there's a bear market.
I've heard all of those lines dozens of times but I've still never found anyone who can explain to me how money gets into the system to drive an increase in price, other than by somebody being prepared to pay more for the exact same asset than someone else did previously.

I looked at trades right back to the inception of Bitcoin and by my reckoning everybody who currently holds bitcoin paid an average of $5k for them. So there's plenty paper profit sitting around but the idea that there's a market that would buy all of those people out at a 10 or 20 times multiplier strikes me as unlikely.

If everyone who currently holds Marks & Spencer shares suddenly decided to sell their shares tomorrow they'd find buyers for them as they have an intrinsic value as a share of future profits. They'd undoubtedly take a haircut due to supply and demand imbalances but they'd still get a decent wedge. If everybody who holds bitcoin decided to sell it'd fall off a cliff and become worthless.

Some people will make money, but it'll be the ones who get out and back into fiat before the implosion. Much like a pyramid scheme, get in low and get out before it collapses.
 

MSG_07

Well-Known Radge
I'd use the apps Coinbase and crypto.com. They are well established and safe places to buy and store crypto. Once you have them downloaded, it's fairly simple to buy many different crypto's from there. Here's a video from YouTube that should help.

Thank you sensi, shall have a watch. 👍
 

hibadelic

Radge-a-Casblanca
I've heard all of those lines dozens of times but I've still never found anyone who can explain to me how money gets into the system to drive an increase in price, other than by somebody being prepared to pay more for the exact same asset than someone else did previously.

I looked at trades right back to the inception of Bitcoin and by my reckoning everybody who currently holds bitcoin paid an average of $5k for them. So there's plenty paper profit sitting around but the idea that there's a market that would buy all of those people out at a 10 or 20 times multiplier strikes me as unlikely.

If everyone who currently holds Marks & Spencer shares suddenly decided to sell their shares tomorrow they'd find buyers for them as they have an intrinsic value as a share of future profits. They'd undoubtedly take a haircut due to supply and demand imbalances but they'd still get a decent wedge. If everybody who holds bitcoin decided to sell it'd fall off a cliff and become worthless.

Some people will make money, but it'll be the ones who get out and back into fiat before the implosion. Much like a pyramid scheme, get in low and get out before it collapses.

I suspect the main value is its potential for anonymous storage and transferral of money. There's a big market for that but I'd guess little of it is entirely legitimate and there are other digital currencies which have the same properties.

I've often wondered about gold in the same way, if governments sold their gold, it would have little value beyond making trinkets and tiny amounts in electronics, industry etc. It's only valuable because the owners don't sell. Same could be said for Bitcoin, I suppose.
 

Rocky

Well-Known Radge
I suspect the main value is its potential for anonymous storage and transferral of money. There's a big market for that but I'd guess little of it is entirely legitimate and there are other digital currencies which have the same properties.

I've often wondered about gold in the same way, if governments sold their gold, it would have little value beyond making trinkets and tiny amounts in electronics, industry etc. It's only valuable because the owners don't sell. Same could be said for Bitcoin, I suppose.
Agree that there's a value to some people in anonymous money movement, but again that's about the underlying technology. not the asset itself. If I want to pay a hitman on the other side of the world I can do that by converting from fiat currency to bitcoin, sending the payment, hitman receives it then converts straight back to fiat. There's no need to sit on a stash of bitcoin to make that happen.

I also agree that there's a lot of similarity to gold, although it turns out that gold does have more intrinsic value than I thought (for the reasons you mention - jewellery / electronics etc). No-one gets into gold as a way to make investment gains over the long term though, it's just seen as a stable store of value when people are afraid of stock market volatility. It managed to serve that purpose when covid hit, and increased in value by 4% in March 2020. Bitcoin singularly failed to be a stable store of value at that time, losing 25% of value in the same time period.

Don't get me wrong, I'm sure a number of people will make big bucks from Bitcoin. However the idea that everyone who's currently sitting on Bitcoin is going to make a profit is utterly fanciful. And if anybody wants to know the precise moment when it'll crash, I can advise that it would be approximately five minutes after I bought some, if that ever happened.
 

Chuck Rhoades

Since 1875
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.

Bought Celer when you posted this and it’s doubled so far. Bit of a dip past couple of weeks like the rest of the market but is holding a lot of it’s gain. You still excited about this one?
 

SuperTortolano

Legendary Radge
Bought Celer when you posted this and it’s doubled so far. Bit of a dip past couple of weeks like the rest of the market but is holding a lot of it’s gain. You still excited about this one?

Yes, still very bullish on CELR. I'm expecting October thru December to be big for all crypto. I'll be taking profits around the end of November to be safe. I think CELR is still undervalued and will go up even further.
 

jock3

Well-Known Radge
Return seems too good to be true, for me. Be careful if you ever do sign up, be prepared to be contacted incessantly by somebody called Karl,
 
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Zab

Admin
Bought Celer when you posted this and it’s doubled so far. Bit of a dip past couple of weeks like the rest of the market but is holding a lot of it’s gain. You still excited about this one?

What did you use to buy it? Doesn’t show as being available on my Coinbase app in the UK.
 

C4MMY

Well-Known Radge
i bought into one called mybricks a couple weeks ago seemingly only launched a 8 weeks ago and so far so good even with the recent pull back I’m over 400% up. Never put that much into it so I’m going to hold for a bit long term and see where it goes
 

SuperTortolano

Legendary Radge
What did you use to buy it? Doesn’t show as being available on my Coinbase app in the UK.

Same as chuck, Crypto.com. The big plus this has going for it, is when it does get listed on Coinbase, it will get an immediate 40-50% boost in price. Still nice and early to get on board.

Been a bit of a pullback this week, but traditionally September is a bad month for crypto. Expecting October and November to be BIG! I took advantage of the dip and bought in again. Coins below are what I bought on the dip.

CELR
SOL
AVAX
VET
ETH
 
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BVilleggiante

Well-Known Radge
I bought Dogecoin at just under 7 cents and am holding. I pulled out my original investment months ago so now I only have fun money to play with which is nice. Big drops the last week or two but just going to hold on and not care.
 

SuperTortolano

Legendary Radge
I bought Dogecoin at just under 7 cents and am holding. I pulled out my original investment months ago so now I only have fun money to play with which is nice. Big drops the last week or two but just going to hold on and not care.

Topped up my Safemoon after the dip too. Out of all the crypto, that's my biggest punt. The rest I'm confident in, this one's a total gamble though. They recently just released a safemoon wallet on Android which makes it so much easier to buy, rather than jump through the hoops you had to before. When the wallet was released, the price jumped up 20% They recently submitted the wallet to the Apple App store to be released too. I think when it becomes available on Apple, it's going to get a big boost in price again.

Nice profits from Doge! That's one I completely missed the boat on. A lot of people made big bucks from that one. Had a nice wee run up today as well 👍
 
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