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Bitcoin

If only @Dub and I had taken the plunge when we were discussing Bitcoin mining on the Bounce all those years ago! 😩☹️
 
I managed to accumulate 1.5 bitcoin when I was working. Retired now and cashing it in next year regardless of the price at the time. It was only money that was gonna be spaffed on a horse or some mad accumulators so happy where I am 😃
 
News regarding China that you'd assume would be detrimental to bitcoin comes out every few weeks, doesn't seem to have an effect any more

Been buying Verasity recently, worth looking into as they have a patented 'proof of view' thing which companies will be able to use to determine whether their ads are being viewed by real people, could be huge in the advertising space. Market cap still only £250m.

Dipped my toes into NFTs the other week too, could be interesting

I've been trying to figure out the NFT market, but can't figure out at all. I put some money in to a couple of NFT related crypto's that have been doing well since investing. Ones an NFT related game that's not been released yet, and another is NFT pictures. Cat Girl and Doge Dash. Neither have been released yet, so in early before the masses.
 
I've been trying to figure out the NFT market, but can't figure out at all. I put some money in to a couple of NFT related crypto's that have been doing well since investing. Ones an NFT related game that's not been released yet, and another is NFT pictures. Cat Girl and Doge Dash. Neither have been released yet, so in early before the masses.
Aye it took a while and a fair bit of research for me and one of my mates to feel confident enough to jump in, it's not easy when we know fuck all about art 😂 What we've been looking for are projects that have a big following on twitter and who's team aren't anonymous (since there have been a fair few rug pulls by anonymous teams recently), and obviously mainly ones that look cool. I'll link a couple that we've found that seem to have potential and aren't just a bunch of animals wearing different clothes which seem to be common for some unknown reason

Vogu - used by a lot of folk on twitter as profile pictures and have a solid community on discord:
https://opensea.io/collection/vogu

Wanderers - these are my favourite because they're so different from the rest, short videos of spaceship interiors with music and various different weird traits, been hyped up a fair amount recently. Holders are about to be airdropped free planet NFTs, definitely worth checking out
https://opensea.io/collection/the-wanderers

I've already made about 1 eth profit buying and selling a few of these just since August so it's well worth it once you get a bit of a feel for the market
 
Fair play if you're encouraging Hibees to spend 60 thousand pounds to buy the exact same thing you spent 300 quid on. Who could possibly lose right?
You don't have to buy a whole one, you can spend 100 quid and at the moment get about 0.003 bitcoin. I only have 0.06
 
Aye it took a while and a fair bit of research for me and one of my mates to feel confident enough to jump in, it's not easy when we know fuck all about art 😂 What we've been looking for are projects that have a big following on twitter and who's team aren't anonymous (since there have been a fair few rug pulls by anonymous teams recently), and obviously mainly ones that look cool. I'll link a couple that we've found that seem to have potential and aren't just a bunch of animals wearing different clothes which seem to be common for some unknown reason

Vogu - used by a lot of folk on twitter as profile pictures and have a solid community on discord:
https://opensea.io/collection/vogu

Wanderers - these are my favourite because they're so different from the rest, short videos of spaceship interiors with music and various different weird traits, been hyped up a fair amount recently. Holders are about to be airdropped free planet NFTs, definitely worth checking out
https://opensea.io/collection/the-wanderers

I've already made about 1 eth profit buying and selling a few of these just since August so it's well worth it once you get a bit of a feel for the market

Thanks for the links, definitely going to look in to those. I've seen a few YouTube videos, but can never fully wrap my head around it.
 
Thanks for the links, definitely going to look in to those. I've seen a few YouTube videos, but can never fully wrap my head around it.
I don't know anything about them but I do remember Steve on Daily 25 blog getting very excited about the potential he saw in it, I'll see if I can find his post.
 
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I don't know anything about them but I do remember Steve on Daily 25 blog getting very excited about the potential he saw in it, I'll see if I can find his post.

That's crazy money, impressive though! Have to do some good research and figure these out.
 
For anyone to make money , someone has to lose money , it doesn’t grow on trees 🤷‍♂️
 
For anyone to make money , someone has to lose money , it doesn’t grow on trees 🤷‍♂️
That happens all the time, if I buy a paper then the newsagent makes money and I lose money. Same goes for buying crypto etc, it's about agreeing on a fair price for an item that results in both parties coming away thinking they got a good deal. Ok you're always going to find people looking to take advantage, but if someone goes in spunking their cash without researching the market, making decisions based off of established trading patterns etc then it's their own fault if they sell something stupidly low/buy stupidly high
 
For anyone to make money , someone has to lose money , it doesn’t grow on trees 🤷‍♂️

How many people on here spunk money at the bookies, or the lottery every week? Investing whatever you can afford here and there on crypto, or any other investment isn't half as bad. Yes market's crash, but they also recover. When you bet T3 at Monmore and it gets pumped, that's your dosh gone.
 
That happens all the time, if I buy a paper then the newsagent makes money and I lose money. Same goes for buying crypto etc, it's about agreeing on a fair price for an item that results in both parties coming away thinking they got a good deal. Ok you're always going to find people looking to take advantage, but if someone goes in spunking their cash without researching the market, making decisions based off of established trading patterns etc then it's their own fault if they sell something stupidly low/buy stupidly high
All very well these millionaires like the dragons den guy advising “ buy bitcoin” and who can afford to take a temporary hit 😡,
 
How many people on here spunk money at the bookies, or the lottery every week? Investing whatever you can afford here and there on crypto, or any other investment isn't half as bad. Yes market's crash, but they also recover. When you bet T3 at Monmore and it gets pumped, that's your dosh gone.
Not for me , I’ll stick to w hill and bet365 and get an occasioal buzz when the fixed odds come up now and again 🤪
 
How many people on here spunk money at the bookies, or the lottery every week? Investing whatever you can afford here and there on crypto, or any other investment isn't half as bad. Yes market's crash, but they also recover. When you bet T3 at Monmore and it gets pumped, that's your dosh gone.
Absolutely right. Like everything its not for everyone but if you are still working a portion (you can afford to lose) set aside every month will pay big dividends.
 
Only had my Bitcoin for a few days now and it's bobbed up and down a bit but no real significant change in my starting amount. I realise there's different ways to do things, you either sit on it and invest at set points or actively trade to make profit. I know the other key is tp diversify your crypto as well which I'll look into further down the line when I become more experienced if I'm still doing this.
 
Only had my Bitcoin for a few days now and it's bobbed up and down a bit but no real significant change in my starting amount. I realise there's different ways to do things, you either sit on it and invest at set points or actively trade to make profit. I know the other key is tp diversify your crypto as well which I'll look into further down the line when I become more experienced if I'm still doing this.
I'm of the former category, I know if I tried trading I'd fuck it up royally so tend to just stick to holding and buying a bit more when it dips a little
 
I'm of the former category, I know if I tried trading I'd fuck it up royally so tend to just stick to holding and buying a bit more when it dips a little
Tried trading based on recommendations but again it didn't really seem to do much. Perhaps I'm just being impatient.
 
I haven't traded either. I buy and hold, taking profits when the price is high and keeping some cash on the sidelines for the dips.

I started off just investing in the big coins like Bitcoin, ETH, XRP, and the likes. This year started out researching the small projects that can be very profitable, but extremely volatile.

Crypto based games are going to become very big in the future. AXIE INFINITY has shown how huge a profit you can make getting in the door early. Traded at pennies and now over $100. Doge Dash is a game that's being released in December along with an NFT project attached to it that I think will do very well. I bought in last week and it's gone up 500% since then. Still trading miles under a penny. If that gets anywhere near $1.00, I'm set for life.
 
@SuperTortolano

Any counsel on taking profits? I’ve reached a point I have some investments that are at 4-500% up and feel banking some of that profit and keeping to rebuy at next crash is sensible. Less clear on how you go about this - i mainly use etoro and see they have a take profit capability. Ive done stop losses before but always ended up losing out due to margin between buy / sell points and it regaining ground before I can react.
 
@SuperTortolano

Any counsel on taking profits? I’ve reached a point I have some investments that are at 4-500% up and feel banking some of that profit and keeping to rebuy at next crash is sensible. Less clear on how you go about this - i mainly use etoro and see they have a take profit capability. Ive done stop losses before but always ended up losing out due to margin between buy / sell points and it regaining ground before I can react.

I use Crypto.com, Coinbase and Trust Wallet. I usually take profit when an investment triples in value. Usually just take 20% out. I don't trade, I just convert whatever crypto I'm taking profit from to a stable coin like Tether and keep the money in there for when the dips hit.
 
Unless you put enough in to actually achieve a coin for the likes of Bitcoin/Ethereum, are they still worth taking a punt on?
 
Unless you put enough in to actually achieve a coin for the likes of Bitcoin/Ethereum, are they still worth taking a punt on?
Absolutely. Don't know how old you are but ideally someone with years still to work, sticking in whatever they can afford regularly, will see great returns. 1 bitcoin is split into 100 million satoshis....get buying 😀
As started pretty late in life but every penny I would have given to the bookie went on bitcoin. Little bits at a time, now I have 1.5. Granted it was cheaper then but it all mounts up.
 
Absolutely. Don't know how old you are but ideally someone with years still to work, sticking in whatever they can afford regularly, will see great returns. 1 bitcoin is split into 100 million satoshis....get buying 😀
As started pretty late in life but every penny I would have given to the bookie went on bitcoin. Little bits at a time, now I have 1.5. Granted it was cheaper then but it all mounts up.
What happens if the worst case scenario were to unfold where you'd built up a few quid and the price starts to plummet? I don't mind losing some money but not all of it!

I've done a few of the lessons on Coinbase so I'm kind of viewing the wonga received for that as a bit of a safety net at the moment which I don't mind losing a bit of.
 
What I meant was can you cash out if it starts to drop dramatically or ate you locked in?
 
What I meant was can you cash out if it starts to drop dramatically or ate you locked in?

You can cash out anytime you want mate. You can also start swapping it for other crypto too.
 
You can cash out anytime you want mate. You can also start swapping it for other crypto too.
This
 
The Doge Dash coin just crashed big time from a massive high. Bought another 10 million coins on the dip. Balls deep in this one and still think it's going to be massive when the game is released.
 
You can cash out anytime you want mate. You can also start swapping it for other crypto too.
Not strictly true when the final crash to zero comes.
 
Not strictly true when the final crash to zero comes.

The chances of all crypto crashing to zero is slim to none.
 
I use Crypto.com, Coinbase and Trust Wallet. I usually take profit when an investment triples in value. Usually just take 20% out. I don't trade, I just convert whatever crypto I'm taking profit from to a stable coin like Tether and keep the money in there for when the dips hit.
What happens when the market has a big scare and 10% of Tether "stablecoin" holders want dollars back for their "safe assets" but there's only enough dollars to pay out 30% of them?

 
What I meant was can you cash out if it starts to drop dramatically or ate you locked in?
Be wary of advice from people who got in at the top of the pyramid would be my suggestion.
 
Be wary of advice from people who got in at the top of the pyramid would be my suggestion.

If you look at it with an open mind and research the companies that are investing billions in to holding Bitcoin, you will see it's not a pyramid. Crypto is still so new and at this moment in time, we are still at the bottom. Maybe about 5% of the population as a whole is invested in Bitcoin or crypto. There are some massive institutions hoarding Bitcoin and won't sell.

There will be crashes, no doubt. But I don't believe it will ever go to zero.
 
If you look at it with an open mind and research the companies that are investing billions in to holding Bitcoin, you will see it's not a pyramid. Crypto is still so new and at this moment in time, we are still at the bottom. Maybe about 5% of the population as a whole is invested in Bitcoin or crypto. There are some massive institutions hoarding Bitcoin and won't sell.

There will be crashes, no doubt. But I don't believe it will ever go to zero.
Yes, I've heard all that before, there are plenty of rehearsed lines out there. People do seem to struggle to answer direct questions though so I'll look forward to a response to my Tether one.
 
Yes, I've heard all that before, there are plenty of rehearsed lines out there. People do seem to struggle to answer direct questions though so I'll look forward to a response to my Tether one.

There's more than one stable coin to put your crypto, tons out there. I could also log in to JM Bullion, APMEX , or other precious metals dealer and buy gold, silver or platinum with my crypto and have it delivered next day. I've actually done this twice.
 
There's more than one stable coin to put your crypto, tons out there. I could also log in to JM Bullion, APMEX , or other precious metals dealer and buy gold, silver or platinum with my crypto and have it delivered next day. I've actually done this twice.
Not entirely surprised that this isn't an answer to the question I asked.
 
Not entirely surprised that this isn't an answer to the question I asked.

The same thing can be said about the banks. If everyone tried to cash out from there bank account, the banks only hold about 1% of cash on hand. It's smart to be diversified. Time will tell what happens with crypto, I believe in it and put my money where my mouth is.
 
The same thing can be said about the banks. If everyone tried to cash out from there bank account, the banks only hold about 1% of cash on hand. It's smart to be diversified. Time will tell what happens with crypto, I believe in it and put my money where my mouth is.
I seem to recall a tiny blip happened with the banks in 2008 and now there are massively stringent rules about liquidity and capital reserves, plus an FSCS protection scheme to protect deposits up to £85k. What are the rules on Tether's holdings to ensure they have sufficient quality assets to back their claimed dollar peg? And what protection does an investor have?

You don't need to answer either of those, I know the answer is none.

Bear in mind that the entire financial crash hinged on overvalued mortgage debt which at least had the benefit of being backed to some extent by physical bricks and mortar. Crypto "value" is driven by nothing tangible whatsoever, it's market sentiment only.
 
I seem to recall a tiny blip happened with the banks in 2008 and now there are massively stringent rules about liquidity and capital reserves, plus an FSCS protection scheme to protect deposits up to £85k. What are the rules on Tether's holdings to ensure they have sufficient quality assets to back their claimed dollar peg? And what protection does an investor have?

You don't need to answer either of those, I know the answer is none.

Bear in mind that the entire financial crash hinged on overvalued mortgage debt which at least had the benefit of being backed to some extent by physical bricks and mortar. Crypto "value" is driven by nothing tangible whatsoever, it's market sentiment only.

Remember what happened to the people of Cyprus where the banks took there money and left them high and dry. Or in Greece where people could only take out 60 Euros a day. Nothing is safe. Not banks, stocks or crypto. There's a risk in every scenario.
 
Remember what happened to the people of Cyprus where the banks took there money and left them high and dry. Or in Greece where people could only take out 60 Euros a day. Nothing is safe. Not banks, stocks or crypto. There's a risk in every scenario.
Um, is that a defence of crypto? That's like saying you could get killed on a pedestrian crossing so you may as well run headlong down a motorway.

Incidentally I only need "El Salvador" and "Gold standard" to hit a full house on my crypto standard response bingo card.

Still no answer to what actually happens if 10% of people want to convert their Tethers to dollars though. Unless you were tacitly admitting that 7 out of 10 of them are out of luck? At which point presumably the remaining 90% take fright and want out too? Which leaves us with $69bn worth of Tether holders fighting over $2bn of actual dollars and some undocumented paper assets?
 
Um, is that a defence of crypto? That's like saying you could get killed on a pedestrian crossing so you may as well run headlong down a motorway.

Incidentally I only need "El Salvador" and "Gold standard" to hit a full house on my crypto standard response bingo card.

Still no answer to what actually happens if 10% of people want to convert their Tethers to dollars though. Unless you were tacitly admitting that 7 out of 10 of them are out of luck? At which point presumably the remaining 90% take fright and want out too? Which leaves us with $69bn worth of Tether holders fighting over $2bn of actual dollars and some undocumented paper assets?

I can't answer your question as I don't know what would happen. It's never happened, so I have nothing to base an answer of. Probably the same result if there was a run on the banks.

Hypothetically speaking, I'd move my money out of Tether back to Bitcoin and buy gold. Or hold it in crypto.
 

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