Cryptocurrency

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Newcastleclaret93
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Re: Cryptocurrency

Post by Newcastleclaret93 » Tue Aug 02, 2022 8:13 am

Looks like the bottom is in. Going to be an interesting couple of years now

KateR
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Re: Cryptocurrency

Post by KateR » Tue Aug 02, 2022 11:27 am

Don't think we've hit anywhere near the bottom yet, bit of a minor rally, it'll lose all that and more soon, just my opinion of course.

I'm still buying every week though, bit's in selected coins and markets where I feel there will be a substantial upside in the future

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Re: Cryptocurrency

Post by BigChaCha » Tue Aug 02, 2022 12:02 pm

Don't think we've hit anywhere near the bottom yet, bit of a minor rally, it'll lose all that and more soon, just my opinion of course.

I'm still buying every week though, bit's in selected coins and markets where I feel there will be a substantial upside in the future
Yes, I agree entirely and I am doing the same...

Back in the day, I did very well on the upside and also the downside of the dot-com bubble and I don't think we've even got close to the pain that's coming... The price has factored in rate rises but not an almighty recession, large defaults and more company collapse which I think is likely...

I am being cautious with crypto at the moment and averaging in slowly at £500 per week for the last month or so... I will carry on doing this and have also set aside 50k as a one-off addition to my portfolio to either buy on the retest of a breakout support line or more likely when we fall to between 12k and 15k... I will then up my weekly crypto investment to 1k per week when I think we are in the clear... I am expecting BTC to go below $15k at least, with a wick down to around 8k, although I also expect a relief rally to about 28k to 30k first.

Newcastleclaret93
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Re: Cryptocurrency

Post by Newcastleclaret93 » Tue Aug 02, 2022 5:11 pm

BigChaCha wrote:
Tue Aug 02, 2022 12:02 pm
Yes, I agree entirely and I am doing the same...

Back in the day, I did very well on the upside and also the downside of the dot-com bubble and I don't think we've even got close to the pain that's coming... The price has factored in rate rises but not an almighty recession, large defaults and more company collapse which I think is likely...

I am being cautious with crypto at the moment and averaging in slowly at £500 per week for the last month or so... I will carry on doing this and have also set aside 50k as a one-off addition to my portfolio to either buy on the retest of a breakout support line or more likely when we fall to between 12k and 15k... I will then up my weekly crypto investment to 1k per week when I think we are in the clear... I am expecting BTC to go below $15k at least, with a wick down to around 8k, although I also expect a relief rally to about 28k to 30k first.
Interesting Bigchacha what cryptos are you investing in? If you don’t mind me asking?

I’ve been accumulating ICP, Coti, Ada in this dip

KateR
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Re: Cryptocurrency

Post by KateR » Wed Aug 03, 2022 12:23 pm

at the moment for the last couple of month or so I've been increasing DOT, HNT, ZIL, EGLD mainly, however before that I did DOT, MATIC, ENJ, My MATIC & ENJ are now at a place I feel I've enough and they're staking for now.

I've got a CDC VISA debit card and all rewards are in CRO, all rewards go to DeFi for staking, so that just continues to grow and build continually, occasionally when CRO went below my average I bought little bits to keep averaging the price down.

Leisure
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Re: Cryptocurrency

Post by Leisure » Wed Aug 03, 2022 12:28 pm

KateR wrote:
Wed Aug 03, 2022 12:23 pm
at the moment for the last couple of month or so I've been increasing DOT, HNT, ZIL, EGLD mainly, however before that I did DOT, MATIC, ENJ, My MATIC & ENJ are now at a place I feel I've enough and they're staking for now.

I've got a CDC VISA debit card and all rewards are in CRO, all rewards go to DeFi for staking, so that just continues to grow and build continually, occasionally when CRO went below my average I bought little bits to keep averaging the price down.
Can you spend any of these in Wetherspoons? ;)

claretonthecoast1882
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Re: Cryptocurrency

Post by claretonthecoast1882 » Wed Aug 03, 2022 12:32 pm

Leisure wrote:
Wed Aug 03, 2022 12:28 pm
Can you spend any of these in Wetherspoons? ;)
Only STD's :D
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Newcastleclaret93
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Re: Cryptocurrency

Post by Newcastleclaret93 » Wed Aug 03, 2022 1:24 pm

KateR wrote:
Wed Aug 03, 2022 12:23 pm
at the moment for the last couple of month or so I've been increasing DOT, HNT, ZIL, EGLD mainly, however before that I did DOT, MATIC, ENJ, My MATIC & ENJ are now at a place I feel I've enough and they're staking for now.

I've got a CDC VISA debit card and all rewards are in CRO, all rewards go to DeFi for staking, so that just continues to grow and build continually, occasionally when CRO went below my average I bought little bits to keep averaging the price down.
Interesting choices. This next bull run will be pretty special

Nonayforever
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Re: Cryptocurrency

Post by Nonayforever » Wed Aug 03, 2022 10:36 pm

Hipper wrote:
Tue Aug 02, 2022 8:11 am
Person who ten years ago threw away 8,000 Bitcoins (currently worth £150 million) on hard drive wants to search the refuse tip to find it.

https://www.bbc.co.uk/news/uk-wales-62381682
Is this what is termed crypto mining ?
Digging up a tip to find bitcoin ?

cockneyclaret
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Re: Cryptocurrency

Post by cockneyclaret » Thu Aug 04, 2022 12:24 am

KateR wrote:
Tue Aug 02, 2022 11:27 am
Don't think we've hit anywhere near the bottom yet, bit of a minor rally, it'll lose all that and more soon, just my opinion of course.

I'm still buying every week though, bit's in selected coins and markets where I feel there will be a substantial upside in the future
Can see a run to $35k then down again.. definitely think we will see 16/18k before the next seriously charge.

Been doing well with MTRG and MLT, keeping my eye on PYR (buying this when I see BTC at 18k

KateR
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Re: Cryptocurrency

Post by KateR » Thu Aug 04, 2022 12:49 pm

cockneyclaret wrote:
Thu Aug 04, 2022 12:24 am
Can see a run to $35k then down again.. definitely think we will see 16/18k before the next seriously charge.

Been doing well with MTRG and MLT, keeping my eye on PYR (buying this when I see BTC at 18k
I don't think we will see $35K this time, I think it'll stay below $30K and keep moving sideways in certain bands, also "think" we will see more big drops and expect to see it at ~$15K before we enter another sustained upturn and a Bull market forming. Right now is where the potential to make some serious gains lies, in all markets, not just crypto

Paul Waine
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Re: Cryptocurrency

Post by Paul Waine » Wed Sep 28, 2022 9:16 pm

Risk.net - a magazine for risk managers and (financial) risk management is offering f.o.c charge access to all their articles 28th and 29th Sept. (Yes, it used to be part of my working life before I retired). I took advantage of their free offer and saw on article with the following heading:

"Credit checks, what credit checks? How crypto lending ate itself."
"Collapse of hedge fund Three Arrows Capital exposes 'sloppy and irresponsible' credit standards among crypto lenders."

The article is long and detailed. I know that some who've posted on this thread have posted about their crypto lending experience. I hope you haven't got caught up in the 3AC and related fallout.

KateR
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Re: Cryptocurrency

Post by KateR » Thu Sep 29, 2022 2:44 pm

3arrows was a while ago and brought down a couple of other crypto trading houses, Celsius and Voyager, at this moment FTX has bought Voyager out of Chapter 11 (this week) and is working to get hold of Celsius, FTX is large and has visions of growing, good strategy for them. 3Arrows borrowed from Celsius and Voyager, defaulted on payments, which brought them both down, people who have coins in both these firms have had them locked, no access! Could be a total loss and will depend on what FTX decides to do, people get access to coins, will they keep them there or sell, will they give them a fraction of there worth, cent's on the dollar, that's in the future but FTX want to grow, want the new customers, obviously what they do will dictate the outcome..

To the best of my knowledge 3arrows were not a place where individuals were buying/holding coins, so my thoughts are not many individuals will have lost coins there, but by default they will have, I had ~$100 (in todays vale probably around $10) only on Celsius, where I had put it just two days before they locked it up, my thoughts are, "I'll never see it" but just maybe if FTX move forward, it certainly hasn't worried me but obviously I was annoyed at myself. One of the main rules is only invest what you can afford to lose, it applies here, but does clearly highlight the potential risks. I think we will see more downside in stocks and crypto, also think more companies will go to the wall and many of the new start up coins will fail due to the financial issues of the world presently.

KateR
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Re: Cryptocurrency

Post by KateR » Thu Sep 29, 2022 2:52 pm

Leisure wrote:
Wed Aug 03, 2022 12:28 pm
Can you spend any of these in Wetherspoons? ;)
Interesting thing is I can spend my crypto much faster than I/you can your stocks/shares, takes me less than 1 minute to convert to USDC, which is a coin pegged to the dollar, so always 1:1, then I sell my USDS for actual dollars in my bank account, so theoretically yes I can spend them in many places plus crypto is under adoption big time.

Many retailers are starting to allow crypto payments and it's probably the fastest growing market in the crypto space, is it widely adopted no, not yet but relatively soon you'll see it.

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Re: Cryptocurrency

Post by KateR » Thu Sep 29, 2022 2:58 pm

BigChaCha wrote:
Tue Aug 02, 2022 12:02 pm
Yes, I agree entirely and I am doing the same...

Back in the day, I did very well on the upside and also the downside of the dot-com bubble and I don't think we've even got close to the pain that's coming... The price has factored in rate rises but not an almighty recession, large defaults and more company collapse which I think is likely...

I am being cautious with crypto at the moment and averaging in slowly at £500 per week for the last month or so... I will carry on doing this and have also set aside 50k as a one-off addition to my portfolio to either buy on the retest of a breakout support line or more likely when we fall to between 12k and 15k... I will then up my weekly crypto investment to 1k per week when I think we are in the clear... I am expecting BTC to go below $15k at least, with a wick down to around 8k, although I also expect a relief rally to about 28k to 30k first.
:lol: I and I'd hesitate to hazard a guess that most of us here buying, wouldn't call 500 GBP/week being cautious!

I don't see BTC at either of your points for quite a while, I'm thinking, well guessing it won't go below 10% of $15K nor do I see any rally going 10% above $25K until we start the Bull run again, obviously lot's of people will take early gains if it get's anywhere near $25K Therefore it'll be a slow trend up with plenty of drops before continuing it's upward trend to above $50K, selling is one of the hardest parts of crypto I feel.

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Re: Cryptocurrency

Post by Leisure » Thu Sep 29, 2022 3:07 pm

KateR wrote:
Thu Sep 29, 2022 2:52 pm
Interesting thing is I can spend my crypto much faster than I/you can your stocks/shares, takes me less than 1 minute to convert to USDC, which is a coin pegged to the dollar, so always 1:1, then I sell my USDS for actual dollars in my bank account, so theoretically yes I can spend them in many places plus crypto is under adoption big time.

Many retailers are starting to allow crypto payments and it's probably the fastest growing market in the crypto space, is it widely adopted no, not yet but relatively soon you'll see it.
Don't have any stocks/shares. Only deal in gold bars or cows! ;)

KateR
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Re: Cryptocurrency

Post by KateR » Thu Sep 29, 2022 3:19 pm

Leisure wrote:
Thu Sep 29, 2022 3:07 pm
Don't have any stocks/shares. Only deal in gold bars or cows! ;)
:lol: understand, good strategy, however I think I could change and spend my crypto faster than you could your gold or cows :P
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4midable
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Re: Cryptocurrency

Post by 4midable » Thu Sep 29, 2022 3:34 pm

Jus keep buying XRP
Will blow up in next few years

RVclaret
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Re: Cryptocurrency

Post by RVclaret » Thu Sep 29, 2022 3:41 pm

4midable wrote:
Thu Sep 29, 2022 3:34 pm
Jus keep buying XRP
Will blow up in next few years
Cheers, just put my mortgage on it. Hope you’re right!
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BigChaCha
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Re: Cryptocurrency

Post by BigChaCha » Thu Sep 29, 2022 5:18 pm

I don't see BTC at either of your points for quite a while, I'm thinking, well guessing it won't go below 10% of $15K nor do I see any rally going 10% above $25K until we start the Bull run again, obviously lot's of people will take early gains if it get's anywhere near $25K Therefore it'll be a slow trend up with plenty of drops before continuing it's upward trend to above $50K, selling is one of the hardest parts of crypto I feel.
Yeah, since I last posted, that upwards price target became invalidated for me on the charts and also solidified by the macro background so I've revised my thoughts and I agree that we are unlikely to see BTC pump as high as I previously thought it might in the short term and especially before Christmas...

My gut feeling is that we will see 6 to 12 months of choppiness with one decent pump and one decent drop in that time... The decent pump will most likely be a push of a false bottom, which can often result in 100% gains in a short time in bubble pop bear markets and BTC can really fly in a short space of time so I'm ready for that, especial when BTC seems to be ahead of the curve when reacting to macro events and factoring in future positive or negative news.

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Re: Cryptocurrency

Post by KateR » Fri Sep 30, 2022 3:55 pm

4midable wrote:
Thu Sep 29, 2022 3:34 pm
Jus keep buying XRP
Will blow up in next few years
it's an interesting one, I don't have any but have thought about getting some, I use CDC to buy but they're not offing a means to buy XRP, where are you buying it?

I think it's fate depends so much on the SEC and they will do everything not to lose face, seems to be a never ending soap opera played out in public but as you say if they beat the SEC then it will take off, question is will it and if so when?

KateR
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Re: Cryptocurrency

Post by KateR » Fri Sep 30, 2022 4:00 pm

BigChaCha wrote:
Thu Sep 29, 2022 5:18 pm
Yeah, since I last posted, that upwards price target became invalidated for me on the charts and also solidified by the macro background so I've revised my thoughts and I agree that we are unlikely to see BTC pump as high as I previously thought it might in the short term and especially before Christmas...

My gut feeling is that we will see 6 to 12 months of choppiness with one decent pump and one decent drop in that time... The decent pump will most likely be a push of a false bottom, which can often result in 100% gains in a short time in bubble pop bear markets and BTC can really fly in a short space of time so I'm ready for that, especial when BTC seems to be ahead of the curve when reacting to macro events and factoring in future positive or negative news.
I've no BTC or ETH, in the grand scheme of things my crypto is a fraction of my investment strategy, but one I enjoy playing with just to see how well I can do against "professionals" running the bulk of my portfolio, therefore I don't see BTC making all that much compared to certain alt coins, of course there is more certainty and less risk with BTC. However my strategy with crypto is for large gains and therefore more risk is involved, I'm just buying regularly ready for the upturn, which I know is going to be quite a while.

4midable
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Re: Cryptocurrency

Post by 4midable » Fri Sep 30, 2022 5:24 pm

KateR wrote:
Fri Sep 30, 2022 3:55 pm
it's an interesting one, I don't have any but have thought about getting some, I use CDC to buy but they're not offing a means to buy XRP, where are you buying it?

I think it's fate depends so much on the SEC and they will do everything not to lose face, seems to be a never ending soap opera played out in public but as you say if they beat the SEC then it will take off, question is will it and if so when?
I hold mine on Revolut

Ive 2 very clued up family members each with 5 figures invested in it. I hold my hands up im a novice but these certainly know their stuff

Something to do with the banking system in the next few years they tell me

Claretforever
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Re: Cryptocurrency

Post by Claretforever » Fri Sep 30, 2022 7:39 pm

KateR wrote:
Fri Sep 30, 2022 3:55 pm
it's an interesting one, I don't have any but have thought about getting some, I use CDC to buy but they're not offing a means to buy XRP, where are you buying it?

I think it's fate depends so much on the SEC and they will do everything not to lose face, seems to be a never ending soap opera played out in public but as you say if they beat the SEC then it will take off, question is will it and if so I when?
I can’t remember whether you said you were in the US? Those in the US tend to use Uphold, but in the UK, as well as Uphold, you can use Kucoin, eToro (wouldn’t recommend if you want to trade due to the spread), and Binance (not Binance US) who are the biggest anyway.

In terms of the case then who knows. Anytime between November and next March depending on appeals by the SEC to the recent (6th?) judgement to get them to hand over key emails. It seems to pump 5-8% every time there’s a positive tweet in recent days.

Newcastleclaret93
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Re: Cryptocurrency

Post by Newcastleclaret93 » Fri Sep 30, 2022 8:27 pm

4midable wrote:
Fri Sep 30, 2022 5:24 pm
I hold mine on Revolut

Ive 2 very clued up family members each with 5 figures invested in it. I hold my hands up im a novice but these certainly know their stuff

Something to do with the banking system in the next few years they tell me
I’ve been looking at both XRP and XLM recently.

Both will play a big part if world currencies start turning to the digital side.
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KateR
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Re: Cryptocurrency

Post by KateR » Mon Oct 03, 2022 1:56 pm

Yes I'm in the US.

I had some XLM but a few months ago swapped it out for a different coin, not sure it's going to be that good but who knows, it seems to meander around but if there's a big upturn in use of adopting to world currencies then can see it being ready, few others working to that end also. I still feel that's a few years away and will be after the next Bull run.

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Re: Cryptocurrency

Post by 4midable » Mon Oct 03, 2022 2:30 pm

XRP seems to be in the news a lot at the min

KateR
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Re: Cryptocurrency

Post by KateR » Mon Oct 03, 2022 3:02 pm

4midable wrote:
Mon Oct 03, 2022 2:30 pm
XRP seems to be in the news a lot at the min
going to stay in the news a long time as there court case with the SEC drags on and on, the fact the SEC hasn't won and indeed has had several rulings from the judge go against them lends credence to XRP coming out of this well. However, SEC will have them in there sights and they will look for other areas to attack them in, they news worthy because it will be a landmark court case and I think everyone who is invested in crypto will be hoping XRP wins the day.

Newcastleclaret93
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Re: Cryptocurrency

Post by Newcastleclaret93 » Wed Oct 05, 2022 12:07 pm

KRBFC your time is now.

BFC players are now on Sorare

KRBFC
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Re: Cryptocurrency

Post by KRBFC » Wed Oct 05, 2022 11:09 pm

Newcastleclaret93 wrote:
Wed Oct 05, 2022 12:07 pm
KRBFC your time is now.

BFC players are now on Sorare
SoRare have taken over fantasy sports. They've got NBA and MLB licencing signed too.

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Re: Cryptocurrency

Post by Leisure » Sun Nov 13, 2022 8:26 am

FTX - hundreds of millions of dollars mysteriously flowed out of the coffers of bankrupt cryptocurrency exchange FTX after its collapse into bankruptcy on Friday night.
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Re: Cryptocurrency

Post by RVclaret » Sun Nov 13, 2022 8:29 am

Leisure wrote:
Sun Nov 13, 2022 8:26 am
FTX - hundreds of millions of dollars mysteriously flowed out of the coffers of bankrupt cryptocurrency exchange FTX after its collapse into bankruptcy on Friday night.
To the moon!

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Re: Cryptocurrency

Post by taio » Sun Nov 13, 2022 8:38 am

Pure gambling and I feel for those who have incurred major losses.

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Re: Cryptocurrency

Post by KRBFC » Sun Nov 13, 2022 10:10 am

taio wrote:
Sun Nov 13, 2022 8:38 am
Pure gambling and I feel for those who have incurred major losses.
Complete pump and dump the majority of it, same with NFT projects. 99% is just bubble crap. SoRare remains on top, scooping up licences. Mbappe, Messi, Serena Williams & Pique plus many more are now investors in SoRare and brand ambassadors.

KateR
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Re: Cryptocurrency

Post by KateR » Wed Nov 16, 2022 2:54 pm

So, as we all know we've had the Luna collapse followed by some smaller but popular exchanges collapsing, and last wee it was FTX who declared bankruptcy. Lot of people hurt and many ramifications as the ripple effect goes on to smaller companies who were bought by FTX. All the coins/tokens etc. falling substantially and of course the macro world events are not yet showing any substantial improvement, particularly the UK around the economy/inflation.

Just thought I'd ask at this time where it's quiet before the WC,

were you hurt by any of the company failures?

have you reacted to moving funds of exchanges to a cold wallet? If so, was it easy?

have you stopped buying, have you sold?

Do you view it as a market opportunity and you're buying?

Newcastleclaret93
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Re: Cryptocurrency

Post by Newcastleclaret93 » Wed Nov 16, 2022 3:06 pm

KateR wrote:
Wed Nov 16, 2022 2:54 pm
So, as we all know we've had the Luna collapse followed by some smaller but popular exchanges collapsing, and last wee it was FTX who declared bankruptcy. Lot of people hurt and many ramifications as the ripple effect goes on to smaller companies who were bought by FTX. All the coins/tokens etc. falling substantially and of course the macro world events are not yet showing any substantial improvement, particularly the UK around the economy/inflation.

Just thought I'd ask at this time where it's quiet before the WC,

were you hurt by any of the company failures?

have you reacted to moving funds of exchanges to a cold wallet? If so, was it easy?

have you stopped buying, have you sold?

Do you view it as a market opportunity and you're buying?
I’ve continued to purchase coins at lower rates. I think this is probably a once in a lifetime opportunity to purchase crypto this cheap.

It’s certainly turbulent at the moment but as we get closer the next Bitcoin halving we are also getting closer to the next bull run.

For the record I have moved all mine to a wallet and taken it off the exchanges.
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Taffy on the wing
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Re: Cryptocurrency

Post by Taffy on the wing » Wed Nov 16, 2022 4:21 pm

Charlie Munger...Warren Buffett's right hand man likens Crypto to a Venereal disease and an open sewer &
a terrible combination of fraud & delusion.
Yes, some people have made money but it shouldn't have been legal in the first place.

GREED.

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Re: Cryptocurrency

Post by Newcastleclaret93 » Wed Nov 16, 2022 4:33 pm

Taffy on the wing wrote:
Wed Nov 16, 2022 4:21 pm
Charlie Munger...Warren Buffett's right hand man likens Crypto to a Venereal disease and an open sewer &
a terrible combination of fraud & delusion.
Yes, some people have made money but it shouldn't have been legal in the first place.

GREED.
The funny part of this is that these billionaires will be purchasing crypto for cents on the dollar in this dip.
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KateR
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Re: Cryptocurrency

Post by KateR » Wed Nov 16, 2022 6:07 pm

Newcastleclaret93 wrote:
Wed Nov 16, 2022 3:06 pm
I’ve continued to purchase coins at lower rates. I think this is probably a once in a lifetime opportunity to purchase crypto this cheap.

It’s certainly turbulent at the moment but as we get closer the next Bitcoin halving we are also getting closer to the next bull run.

For the record I have moved all mine to a wallet and taken it off the exchanges.
Rumours out now regarding another company (Genesis) halting removal of funds from earn programs :( Due to FTX issues and I expect more to follow!

I've continuing to buy in bits for the last week, I have a mixture of an exchange and many self custody wallets/DeFi, etc. but I bought a cold wallet this week, just waiting for it to arrive and will move several coins off the exchange once I've set it up. Had some nervous moments the last week and questioning my strategy, but decided I feel I'm on the right track and the failures have been down to individuals and bad business practices. Once I sorted this out in my mind, I started buying more but all going to DeFi and off the exchange immediately with what I've bought during this period.

Newcastleclaret93
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Re: Cryptocurrency

Post by Newcastleclaret93 » Tue Dec 27, 2022 10:41 pm

Anyone got any idea on how to deposit into exchanges now the banks have put bans on it?

HiThere
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Re: Cryptocurrency

Post by HiThere » Tue Dec 27, 2022 10:46 pm

The cool kids are now deep into OpenAI. Mix it about and you can make a lot of money.

No Ney Never
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Re: Cryptocurrency

Post by No Ney Never » Mon Jan 08, 2024 3:28 pm

With the SEC approval of a crypto ETF expected by many this quarter, along with the halving of the BTC mining rate, there's quite a bit going on.
BTC expected to lead the charge up the charts over the next 12 months.
What is likely to be in the group of crypto that may form the basis of an ETF?

FCBurnley
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Re: Cryptocurrency

Post by FCBurnley » Mon Jan 08, 2024 4:38 pm

XRP is being mentioned. Looks cheap right now at 56 cents

Clovius Boofus
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Re: Cryptocurrency

Post by Clovius Boofus » Mon Jan 08, 2024 4:52 pm

HMRC has stepped up pressure on cryptocurrency speculators it suspects have underpaid tax on their assets. The tax office has been collecting data on crypto traders for the past few years, and is now targeting them specifically to check if they have paid tax correctly.

'Investors need to be fully aware of what tax they need to pay or they will be issued with a heavy penalty on top of the tax they already owe.'


https://www.thisismoney.co.uk/money/cry ... g-tax.html

No Ney Never
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Re: Cryptocurrency

Post by No Ney Never » Mon Jan 08, 2024 9:17 pm

They're always looking for people to grass themselves up. Take Kraken based in San Francisco for instance, how can HMRC UK compel them to handover details of trades made by UK citizens? How are HMRC able to assess the amount of tax an individual crypto trader is liable for?

Carlos the Great
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Re: Cryptocurrency

Post by Carlos the Great » Mon Jan 08, 2024 10:04 pm

I’m glad I don’t understand any of it .. and I intend to keep it that way .. no offence .. I don’t like any I investment I have no control over and I don’t understand
This user liked this post: Taffy on the wing

Paul Waine
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Re: Cryptocurrency

Post by Paul Waine » Mon Jan 08, 2024 10:42 pm

No Ney Never wrote:
Mon Jan 08, 2024 9:17 pm
They're always looking for people to grass themselves up. Take Kraken based in San Francisco for instance, how can HMRC UK compel them to handover details of trades made by UK citizens? How are HMRC able to assess the amount of tax an individual crypto trader is liable for?
Authorities worldwide have agreements with financial and other regulated entities to share details on interest paid to account holders. Moneylaundering regulations also require all financial institutions (and many others) to verify identity of account holders, clients etc.

More recently I've read that terrorists have stopped using cryptocurrencies to move money. They've discovered that the "authorities" can trace their transactions. Bitcoin and the rest aren't as anonymous as has been claimed.

Taffy on the wing
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Re: Cryptocurrency

Post by Taffy on the wing » Mon Jan 08, 2024 10:45 pm

Carlos the Great wrote:
Mon Jan 08, 2024 10:04 pm
I’m glad I don’t understand any of it .. and I intend to keep it that way .. no offence .. I don’t like any I investment I have no control over and I don’t understand
There's no there there!

Paul Waine
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Re: Cryptocurrency

Post by Paul Waine » Mon Jan 08, 2024 10:46 pm

No Ney Never wrote:
Mon Jan 08, 2024 3:28 pm
With the SEC approval of a crypto ETF expected by many this quarter, along with the halving of the BTC mining rate, there's quite a bit going on.
BTC expected to lead the charge up the charts over the next 12 months.
What is likely to be in the group of crypto that may form the basis of an ETF?
If, and I hope it doesn't happen, crypto ETF get some approval there is no reason why an ETF can't be a single cryptocurrency. There may be other ETFs that can be a basket of cryptocurrencies.

dsr
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Re: Cryptocurrency

Post by dsr » Tue Jan 09, 2024 12:06 am

No Ney Never wrote:
Mon Jan 08, 2024 9:17 pm
They're always looking for people to grass themselves up. Take Kraken based in San Francisco for instance, how can HMRC UK compel them to handover details of trades made by UK citizens? How are HMRC able to assess the amount of tax an individual crypto trader is liable for?
I hope you don't know what "grass up" means. I would hate to think that reporting a crime is considered somehow reprehensible.

A "grass" is someone who is involved with the crime and changes his or her mind and gives evidence against the other conspirators. Not a witness. If you see someone entering your neighbour's house with a petrol can and rag in a bottle, is isn't "grassing" if you tell the police. (Unless, of course, you supplied the petrol.)

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