Cryptocurrency

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NRC
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Re: Cryptocurrency

Post by NRC » Wed May 26, 2021 6:25 pm

I bought $7k of BTC on April 22nd at $52,300, which was buying a dip at the time - not exactly the smartest thing to do in hindsight, so I bought another $5k on May 22nd at $37000 in order to lower the average cost base. It's slowly making its way into the unrealized value... it'll go back up

Lesson learned; don't buy on the first dip

aggi
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Re: Cryptocurrency

Post by aggi » Wed May 26, 2021 6:52 pm

dsr wrote:
Tue May 25, 2021 11:39 pm
And if all these dozens of cryptocurrencies have each invented a new and unique computer system that they have patented and that will bring in income, that's good. That's an asset. I suspect many of them do not - not even bitcoin. I don't think blockchain is for their use only, is it?

Even an intangible asset is an asset that can generate income. Most if not all these cryptocurrencies do not generate income, and the only possible reason for their price to go up or remain steady is that more people want them than have got them. It's unsustainable.
I agree, many are just riding the hype and the skill (as with most high risk trading) is picking the wheat from the chaff. Similar things are going on with renewable energy, battery technology, etc with lots of companies with "world-beating" solutions that require investment and the vast majority will end up worthless.

A large number of the currencies do generate income. There are plenty of companies that generate losses (and that's all they have ever done) with high values. People invest in them because of the potential.

the only possible reason for their price to go up or remain steady is that more people want them than have got them

That's describing loads of assets. Diamonds is the obvious, fake diamonds can be produced cheaper than real diamonds but people will pay a premium for real diamonds because more people want them than have got them (due in part to market manipulation). Rolexes are the same but no-one suggests that they are unsustainable.

tarkys_ears
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Re: Cryptocurrency

Post by tarkys_ears » Wed May 26, 2021 7:31 pm

Only diamonds on here are these hands!

💎👐

AlargeClaret
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Re: Cryptocurrency

Post by AlargeClaret » Wed May 26, 2021 7:41 pm

Had a good few grand invested accross ETH , Polka and VE Tech, and a bit of fun money in SHIB . I took nice profits from DOT which is a top technology then foolishly left most of my 3 bag profit in ETH which ,when the recent crash happened I sold 100% of it for a small profit while taking a hit on VE and SHIB and saw DOT lose about 60% . Have couple of grand in ETH bought on the dip and that’s my lot now .After all said and done I’m maybe a few hundred up . Be better off in some Blue Chip Apple/AMZ and a sensible spread of UK stocks . I liken crypto to a far more volatile “ penny shares “ ( AIM) but without the physical product potential and market knowledge .

ClaretAndJew
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Re: Cryptocurrency

Post by ClaretAndJew » Wed May 26, 2021 9:29 pm

I have 1.2 million SHIB which I traded 1/3 of my Cardano for. If SHIB is even worth 10p we're gonna be well off. Either way, I've lost nothing, because it's all from my free Coinbase Crypto when I signed up.

bfcmatt
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Re: Cryptocurrency

Post by bfcmatt » Wed May 26, 2021 9:31 pm

I have 8 millon shib but would be very surprised if it even got as high as 1p, but live in hope

Hedontplayforyou
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Re: Cryptocurrency

Post by Hedontplayforyou » Wed May 26, 2021 9:32 pm

SHIB is just a play thing the same as DOGE was surely? I bought a few just for the fun of it
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Newcastleclaret93
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Re: Cryptocurrency

Post by Newcastleclaret93 » Wed May 26, 2021 9:33 pm

I’m quite interested in the release of Xcad tomorrow. Not going to go silly on it but think there’s a chance of some good returns.

bfcmatt
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Re: Cryptocurrency

Post by bfcmatt » Wed May 26, 2021 9:34 pm

Hedontplayforyou wrote:
Wed May 26, 2021 9:32 pm
SHIB is just a play thing the same as DOGE was surely? I bought a few just for the fun of it
Me to, in the hope that somebody pumps it in the same way as doge

ClaretAndJew
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Re: Cryptocurrency

Post by ClaretAndJew » Wed May 26, 2021 9:36 pm

If SHIB is a plaything like DOGE at 40 cents then yeah, I hope it is.

Hedontplayforyou
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Re: Cryptocurrency

Post by Hedontplayforyou » Wed May 26, 2021 9:41 pm

Haha that’s the dream my friend. Can’t see SHIB getting anywhere near though. Not that I know how it works mind you

ClaretAndJew
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Re: Cryptocurrency

Post by ClaretAndJew » Wed May 26, 2021 9:51 pm

Even if it gets to 1p if you have 1+ million of it... 10k in GBP.

TO THE MOON!!!!!!!!!!!

Claretforever
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Re: Cryptocurrency

Post by Claretforever » Thu May 27, 2021 8:46 am

Crypto traders have all been on the calculator working out what they’ll have if this, that or the other happens. :lol:
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Re: Cryptocurrency

Post by GodIsADeeJay81 » Wed Jun 09, 2021 4:51 pm

https://twitter.com/Frances_Coppola/sta ... 55138?s=19

I see El Salvador are encouraging the use of Bitcoin and this take is interesting

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Re: Cryptocurrency

Post by willsclarets » Wed Jun 09, 2021 10:04 pm

NRC wrote:
Wed May 26, 2021 6:25 pm
I bought $7k of BTC on April 22nd at $52,300, which was buying a dip at the time - not exactly the smartest thing to do in hindsight, so I bought another $5k on May 22nd at $37000 in order to lower the average cost base. It's slowly making its way into the unrealized value... it'll go back up

Lesson learned; don't buy on the first dip
I only trade equities and commodities, but looking at the daily and monthly chart id be a buyer at this price purely from technical analysis. A good lesson is learning to fade the shorter term charts in favour of the long. Buying low sell high is nonsense to a degree, the first segment of any move is the most expensive. But you have a double low and a spike upward now, I'd expect a small retrace and a leg up from here.

KateR
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Re: Cryptocurrency

Post by KateR » Wed Jun 09, 2021 10:26 pm

https://www.bbc.com/news/technology-57199405

crypto very interesting in many ways, but love the usual experts here who freely admit they know nothing but then tell the world why things are worthless and have no value. Some very good projects going on and have been buying into a few in the last two months, but all with funds I could afford to lose but I am 99.9999999999% certain I wont lose all of it. Everything is simple if you buy low and sell high, regardless of what it is.

Bought 10 million SHIB just for fun and don't see much value in that one, I don't see it hitting even one cent, but I'll be very happy if it hits a tenth of one cent.

My Helium mining I mentioned earlier is up and running, making good returns and expect my ROI within a month, HNT hit over $20 from $7 when I first mentioned it, back down ~$13ish at the moment, but am confident it will be well above $20 in the future. If I remember correctly someone bought Helium at a good price.

I certainly enjoy playing the crypto game so far and have staked (locked up) crypto and am receiving 6% returns guaranteed, certainly no bank giving me that. My opinion is anyone with a lot of "spare cash" in the bank is just losing money, this is not financial advice and if you like losing money knock yourself out. again just IMO.

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Re: Cryptocurrency

Post by ClaretAndJew » Wed Jun 09, 2021 10:43 pm

KateR wrote:
Wed Jun 09, 2021 10:26 pm
https://www.bbc.com/news/technology-57199405

crypto very interesting in many ways, but love the usual experts here who freely admit they know nothing but then tell the world why things are worthless and have no value. Some very good projects going on and have been buying into a few in the last two months, but all with funds I could afford to lose but I am 99.9999999999% certain I wont lose all of it. Everything is simple if you buy low and sell high, regardless of what it is.

Bought 10 million SHIB just for fun and don't see much value in that one, I don't see it hitting even one cent, but I'll be very happy if it hits a tenth of one cent.

My Helium mining I mentioned earlier is up and running, making good returns and expect my ROI within a month, HNT hit over $20 from $7 when I first mentioned it, back down ~$13ish at the moment, but am confident it will be well above $20 in the future. If I remember correctly someone bought Helium at a good price.

I certainly enjoy playing the crypto game so far and have staked (locked up) crypto and am receiving 6% returns guaranteed, certainly no bank giving me that. My opinion is anyone with a lot of "spare cash" in the bank is just losing money, this is not financial advice and if you like losing money knock yourself out. again just IMO.
If Shiba ever hits 1 penny I'll have £60k. No reason why it won't eventually.

I also have dabbled in Cardano which is in an online wallet.

Whilst it's bananas, if you just hold Crypto and don't gamble it away by using the multipliers etc, you're unlikely to lose any money. Only put in what you can afford and you wont' go far wrong.

My SHIB went from $30 to $45 worth, with a high of about $50 odd. As a meme coin and hardly any real money in it, it's worth the gamble.
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tarkys_ears
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Re: Cryptocurrency

Post by tarkys_ears » Wed Jun 09, 2021 10:50 pm

ClaretAndJew wrote:
Wed Jun 09, 2021 10:43 pm
If Shiba ever hits 1 penny I'll have £60k. No reason why it won't eventually.
Because that would give it a market cap of £4tn

That aint happening
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Re: Cryptocurrency

Post by ClaretAndJew » Wed Jun 09, 2021 10:53 pm

tarkys_ears wrote:
Wed Jun 09, 2021 10:50 pm
Because that would give it a market cap of £4tn

That aint happening
As it stands, no, but, a lot of SHIB will eventually be burned, lowering the cap. That's the theory anyway. But, it's not a huge gamble so either it will or won't. No drama here.
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Zlatan
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Re: Cryptocurrency

Post by Zlatan » Wed Jun 09, 2021 10:58 pm

Falcon wrote:
Wed May 26, 2021 3:21 pm
I bought £100 worth a month ago and then another £100 just before it dipped last week. My £200 is now worth £135 apparently so evidently I've picked a shocking time to start. Mix 50/50 between bitcoin and etherium.

Just planning on chucking in £100 per month on payday and seeing what happens. It's money I can afford to lose and if I make money, great.
Chap at work been doing similar for 5-6 years, I think he puts in about £50/month. His portfolio is worth a about £120k now, just wish I’d have had the balls to do it too. He moves it around based on Reddit rumours etc, not all been fun and games though - he did lose about £20k one weekend last year
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KateR
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Re: Cryptocurrency

Post by KateR » Wed Jun 09, 2021 11:00 pm

ClaretAndJew wrote:
Wed Jun 09, 2021 10:43 pm
If Shiba ever hits 1 penny I'll have £60k. No reason why it won't eventually.

I also have dabbled in Cardano which is in an online wallet.

Whilst it's bananas, if you just hold Crypto and don't gamble it away by using the multipliers etc, you're unlikely to lose any money. Only put in what you can afford and you wont' go far wrong.

My SHIB went from $30 to $45 worth, with a high of about $50 odd. As a meme coin and hardly any real money in it, it's worth the gamble.
SHIB is just that so needs someone like EM to talk it big then get out before he sells, play money really.

I am not day trading or looking to sell anytime soon, I'm buying more to those I've chosen except SHIB, but besides my mining over 2/3rds are in HNT which I have bought, I have ADA and a few others.

Tax is my biggest worry, here in the US they tax everything, so if you trade coins and/or sell coins in a 12 month period it's classed as income tax. If you hold for over 12 months before disposing then it's CGT and a lot cheaper tax, so I'll definitely be holding over 12 months. Probably will be different if/when I decide to retire fully, but I'm building out my Helium business and will be extending later this year, that's my main goal while I dabble in crypto buying and see how it works.

As an example I have been in stocks/shares/bonds whatever for decades, if you can hit 10%/yr than after 7 years you will have doubled your money if you don't take anything out. 2013 I moved numerous stocks into an S&P 500 fund and have contiguously seen gains around 10%, my money in this stock has doubled, well it's 99+% at the moment or last time I looked.

With crypto it's easy to double your money in a month at a minimum, of course the risk is you can lose large percentages to, I have worked a crypto portfolio of 10 (including SHIB) I know they won't all go up dramatically, however if one or two do then I'll cover the other 9 or 8 even if they go very low. My belief and expectation is I'll do better than 8, but it's all an educated guess.

I selected my own after research and also listening to people here and also numerous other places and educated myself, I am very new and just an apprentice but I know I have the opportunity to improve my holdings, whereas I know with certainty if I leave it in a bank account I will be losing a little every year.

KateR
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Re: Cryptocurrency

Post by KateR » Wed Jun 09, 2021 11:04 pm

Zlatan wrote:
Wed Jun 09, 2021 10:58 pm
Chap at work been doing similar for 5-6 years, I think he puts in about £50/month. His portfolio is worth a about £120k now, just wish I’d have had the balls to do it too. He moves it around based on Reddit rumours etc, not all been fun and games though - he did lose about £20k one weekend last year
did he really lose 20K or did the value for those days drop 20K, big difference, people do sell and panic in the big drops but you can only ever lose (or win) when you sell.

That was the time to be buying more and reducing your average cost of the number of coins you hold.

KateR
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Re: Cryptocurrency

Post by KateR » Wed Jun 09, 2021 11:07 pm

Buying monthly is a very sensible way but you also need to time the market and be buying when low or early in a bull run.

The bear is scratching on the door at the moment and then we will see some real drops in the crypto world when he enters the house.

Crypto buying in the bull run makes you rich, buying in the bear market makes you wealthy.

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Re: Cryptocurrency

Post by willsclarets » Wed Jun 09, 2021 11:09 pm

Like any new technology, there will be lots of casualties and some that appreciate massively. It's a strange environment because equities are clearly in a bubble, and it will he interesting to see if crypto follows or becomes a store of value against fiat currencies, which owing to inflation and a massive debt bubble should force people (and already are) to commodities and perhaps bitcoin and other crypto projects.
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Ric_C
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Re: Cryptocurrency

Post by Ric_C » Wed Jun 09, 2021 11:22 pm

KateR wrote:
Wed Jun 09, 2021 10:26 pm

My Helium mining I mentioned earlier is up and running, making good returns and expect my ROI within a month, HNT hit over $20 from $7 when I first mentioned it, back down ~$13ish at the moment, but am confident it will be well above $20 in the future. If I remember correctly someone bought Helium at a good price.
Hi Kate, I've been thinking about helium miners recently, how many do you have setup if you don't mind me asking? I was thinking of getting 2-3 depending on budget, but they are hard to get hold of. You don't happen to live in Nelson do you as there seems to be a cluster of helium hotspots in the Nelson area, not so much Burnley :)
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Zlatan
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Re: Cryptocurrency

Post by Zlatan » Wed Jun 09, 2021 11:34 pm

KateR wrote:
Wed Jun 09, 2021 11:04 pm
did he really lose 20K or did the value for those days drop 20K, big difference, people do sell and panic in the big drops but you can only ever lose (or win) when you sell.

That was the time to be buying more and reducing your average cost of the number of coins you hold.
I believe he transferred between currencies and over a few days his portfolio value dropped by £20k - he made a bad choice to transfer to apparently

AlargeClaret
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Re: Cryptocurrency

Post by AlargeClaret » Thu Jun 10, 2021 9:28 am

GodIsADeeJay81 wrote:
Wed Jun 09, 2021 4:51 pm
https://twitter.com/Frances_Coppola/sta ... 55138?s=19

I see El Salvador are encouraging the use of Bitcoin and this take is interesting
Is this a good or bad thing ? Crazy tin pot lawless countries accepting BTC is akin to drug dealers accepting blow jobs as payment IMO . IF however 3/4 small nations took it up it could snowball quickly .

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Re: Cryptocurrency

Post by dsr » Thu Jun 10, 2021 12:03 pm

KateR wrote:
Wed Jun 09, 2021 10:26 pm
I certainly enjoy playing the crypto game so far and have staked (locked up) crypto and am receiving 6% returns guaranteed, certainly no bank giving me that. My opinion is anyone with a lot of "spare cash" in the bank is just losing money, this is not financial advice and if you like losing money knock yourself out. again just IMO.
Remember you are playing a very high risk "game" and (as always) the way to get higher rewards is to put your money at risk. And putting it with someone who "guarantees" a high rate of return, is putting your money at very high risk indeed. No reputable financial business can make that guarantee.

aggi
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Re: Cryptocurrency

Post by aggi » Thu Jun 10, 2021 12:56 pm

KateR wrote:
Wed Jun 09, 2021 10:26 pm
https://www.bbc.com/news/technology-57199405

crypto very interesting in many ways, but love the usual experts here who freely admit they know nothing but then tell the world why things are worthless and have no value. Some very good projects going on and have been buying into a few in the last two months, but all with funds I could afford to lose but I am 99.9999999999% certain I wont lose all of it. Everything is simple if you buy low and sell high, regardless of what it is.

Bought 10 million SHIB just for fun and don't see much value in that one, I don't see it hitting even one cent, but I'll be very happy if it hits a tenth of one cent.

My Helium mining I mentioned earlier is up and running, making good returns and expect my ROI within a month, HNT hit over $20 from $7 when I first mentioned it, back down ~$13ish at the moment, but am confident it will be well above $20 in the future. If I remember correctly someone bought Helium at a good price.

I certainly enjoy playing the crypto game so far and have staked (locked up) crypto and am receiving 6% returns guaranteed, certainly no bank giving me that. My opinion is anyone with a lot of "spare cash" in the bank is just losing money, this is not financial advice and if you like losing money knock yourself out. again just IMO.
Obviously the question is who is guaranteeing that return.

A few years ago I diversified into a dozen or so smaller coins thinking that I'd lose on some but it would be unlikely to lose on them all. Looking now that section of coins is worth 90% less with every single one having fallen in value significantly. There were some good projects in there but they didn't pay off for various reasons.
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KateR
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Re: Cryptocurrency

Post by KateR » Thu Jun 10, 2021 10:51 pm

Ric_C wrote:
Wed Jun 09, 2021 11:22 pm
Hi Kate, I've been thinking about helium miners recently, how many do you have setup if you don't mind me asking? I was thinking of getting 2-3 depending on budget, but they are hard to get hold of. You don't happen to live in Nelson do you as there seems to be a cluster of helium hotspots in the Nelson area, not so much Burnley :)
Ric,
I live in Houston Texas and have 2 set up, I also have 2 in the UK and my eldest son is doing those, one set up and the 4th in the final throes of syncing, only when they are fully synced can they mine, all 4 have different results and no, am nowhere near Nelson.

I did post previously in March aout none in Burnley and yet a lot in Nelson, its a lottery of whether to go where there are lot's or none, my opinion is if less than four don't go where there are none, if you go with above four then a place with none of a few is better, just my thoughts.

Problem with more is you need places to host them but plenty are doing just that and that is my next venture with this, earliest delivery is 12-20 weeks and they are only for internal, outside ones will be late this year first quarter next year.

I can tell you height is what defines how well you do and the density around you.
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KateR
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Re: Cryptocurrency

Post by KateR » Thu Jun 10, 2021 10:52 pm

Zlatan wrote:
Wed Jun 09, 2021 11:34 pm
I believe he transferred between currencies and over a few days his portfolio value dropped by £20k - he made a bad choice to transfer to apparently
definitely a bad move, but we all make them.

KateR
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Re: Cryptocurrency

Post by KateR » Thu Jun 10, 2021 10:57 pm

dsr wrote:
Thu Jun 10, 2021 12:03 pm
Remember you are playing a very high risk "game" and (as always) the way to get higher rewards is to put your money at risk. And putting it with someone who "guarantees" a high rate of return, is putting your money at very high risk indeed. No reputable financial business can make that guarantee.
no one is guaranteeing you money except banks, you can do IRA's etc, crypto you can stake and it's a guarantee and is no more at risk than a bank or IRA unless you stake a very funny coin, crypto is in the trillions, it's starting to go mainstream in so many places, now a few countries have embraced. I was thinking like you a few years ago and invested nothing for that reason, now the time is right for me, you and you alone will define when it's right for you if ever and I'm not trying to convince you or make you change your mind.

KateR
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Re: Cryptocurrency

Post by KateR » Thu Jun 10, 2021 11:01 pm

aggi wrote:
Thu Jun 10, 2021 12:56 pm
Obviously the question is who is guaranteeing that return.

A few years ago I diversified into a dozen or so smaller coins thinking that I'd lose on some but it would be unlikely to lose on them all. Looking now that section of coins is worth 90% less with every single one having fallen in value significantly. There were some good projects in there but they didn't pay off for various reasons.

you can do it with individual coins and definitely more risky and obviously if projects fail then it's a problem, I am doing it within an exchange, which is like a crypto bank with a very very low chance of failure, you would virtually need the top coins to fail and I'm confident that won't happen. Of course I was confident banks wouldn't fail but look at 2008, so as we all no there are very few ironclad guarantees, except for taxes and death.

claret_in_exile
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Re: Cryptocurrency

Post by claret_in_exile » Thu Aug 26, 2021 3:00 pm

NRC wrote:
Tue Mar 23, 2021 9:15 pm
I just bought $1,000 of ADA on your recommendation, claret_in_exile, so if it bombs I’ll be asking CT for your address :x
How's that ADA working out for you right about now? :)
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elwaclaret
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Re: Cryptocurrency

Post by elwaclaret » Thu Aug 26, 2021 5:15 pm

Be extremely careful starting in Bitcoin without experience. One enquiry to the wrong company and you’ll need to change your number due to the number of rip off merchants trying to ‘help’ you

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Re: Cryptocurrency

Post by Hedontplayforyou » Thu Aug 26, 2021 5:36 pm

Anybody know much about XRP (ripple)? Heard it could be massive in the coming years?

Peter Loo
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Re: Cryptocurrency

Post by Peter Loo » Thu Aug 26, 2021 8:05 pm

The British division of the world's biggest cryptocurrency exchange is "not capable of being effectively supervised", according to the Financial Conduct Authority. In a damning report, the watchdog revealed its frustration in trying to engage with Binance Markets, which it cracked down on in June amid concerns about the company's anti-money laundering standards. At the time, the FCA also forced it to issue a warning to consumers that it was not allowed to carry out regulated activities in the UK.

KateR
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Re: Cryptocurrency

Post by KateR » Fri Aug 27, 2021 1:34 am

Binance get's a lot of bad publicity in many places and I have avoided it and gone elsewhere, so far so good.

You can buy stable coins so that it is always equivalent of 1 coin equals $1 or any currency of your choice, you can stake it (lock it in) and get 10%, I've also done this. As for previous questions I locked in one cone for a 3 month period, which finished 2 weeks ago and got my 6% back with my original stake. Have quite a few different coins staked in different wallets earning from 2% to 10%, payments are received weekly and you get the amount you staked back after 3 months for some, others you get it back when you ask for it.

The whole crypto market crabed sideways and with numerous dips from May to a couple of weeks ago before a big jump, I was buying the dips but bought nothing during the quick hike. I'll wait for the next round of dips and start buying again then.

Helium (HNT) is probably 40/45% of my total, before the increase across the board an investment company bought $111 data credits causing a very large spike in the HNT value and more and more companies who develop IOT devices are signing on. The mining devices paid for themselves in less than a month and have been mining and improving the situation for months now, however the large gains and quick ROI are basically a thing of the past now. No more get rich quick through mining available IMO now.

Just my opinion but anyone who thinks crypto is a pyramid scheme and is going to go away, probably said exactly the same or similar when the internet first started. Like always the early starters will benefit the best but it will be those who don't panic and sell when it drops, which is exactly the opposite of what should happen.

The following picture helped me understand a lot of projects and the numerous uses that can be applied to crypto currencies, worth looking at and thinking about IMO
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FCBurnley
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Re: Cryptocurrency

Post by FCBurnley » Fri Aug 27, 2021 2:14 am

Hedontplayforyou wrote:
Thu Aug 26, 2021 5:36 pm
Anybody know much about XRP (ripple)? Heard it could be massive in the coming years?
Whatever crypto you buy it’s the fundamentals that matter. XRP has the best fundamentals of any coin. I have been buying since 2017. The SEC has certainly held the price back but hopefully that will soon be resolved. Nobody knows for sure what will happen but if you have money in the bank you are losing year on year. XRP has tremendous potential but no guarantees

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Re: Cryptocurrency

Post by FCBurnley » Fri Aug 27, 2021 2:34 am

If XRP price drops to 0.95 cents they will be an excellent buy. That would be very close to the bottom. Certainly not a bad buy at $1

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Re: Cryptocurrency

Post by Taffy on the wing » Fri Aug 27, 2021 2:53 am

It'll all end in tears IMO........they'll show you some new bottoms you won't believe.

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Re: Cryptocurrency

Post by dsr » Fri Aug 27, 2021 11:40 am

KateR wrote:
Fri Aug 27, 2021 1:34 am
You can buy stable coins so that it is always equivalent of 1 coin equals $1 or any currency of your choice, you can stake it (lock it in) and get 10%, I've also done this. As for previous questions I locked in one cone for a 3 month period, which finished 2 weeks ago and got my 6% back with my original stake. Have quite a few different coins staked in different wallets earning from 2% to 10%, payments are received weekly and you get the amount you staked back after 3 months for some, others you get it back when you ask for it.

...

Just my opinion but anyone who thinks crypto is a pyramid scheme and is going to go away, probably said exactly the same or similar when the internet first started. Like always the early starters will benefit the best but it will be those who don't panic and sell when it drops, which is exactly the opposite of what should happen.
Any scheme that involves guaranteeing 2-10% over three months plus your stake back, is a fraud. It can't be otherwise. There is no honest way to make that guarantee; the money can only come out of either highly speculative profits/gains, or else a Ponzi robbing Peter to pay Paul scheme.

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Re: Cryptocurrency

Post by Papabendi » Fri Aug 27, 2021 12:05 pm

Taffy on the wing wrote:
Fri Aug 27, 2021 2:53 am
It'll all end in tears IMO........they'll show you some new bottoms you won't believe.
attack ships on fire?

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Re: Cryptocurrency

Post by cockneyclaret » Fri Aug 27, 2021 12:29 pm

dsr wrote:
Fri Aug 27, 2021 11:40 am
Any scheme that involves guaranteeing 2-10% over three months plus your stake back, is a fraud. It can't be otherwise. There is no honest way to make that guarantee; the money can only come out of either highly speculative profits/gains, or else a Ponzi robbing Peter to pay Paul scheme.
How is it a fraud??
I stake Dot (polkadot) at 11/12% per month.. it's a 30 day deal but I just restart as soon as it ends.
Just completed the 1st two ksm parachains of Kar and movr, in both instances I've locked up my ksm with them for 48 months and received (x) amount of their tokens back.
Today movr went live on the exchanges, sitting at around £80 each.. I was given 108 tokens for lending them my ksm.

Next parachains out are Kilt for those that are interested
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Re: Cryptocurrency

Post by aggi » Fri Aug 27, 2021 1:32 pm

cockneyclaret wrote:
Fri Aug 27, 2021 12:29 pm
How is it a fraud??
I stake Dot (polkadot) at 11/12% per month.. it's a 30 day deal but I just restart as soon as it ends.
Just completed the 1st two ksm parachains of Kar and movr, in both instances I've locked up my ksm with them for 48 months and received (x) amount of their tokens back.
Today movr went live on the exchanges, sitting at around £80 each.. I was given 108 tokens for lending them my ksm.

Next parachains out are Kilt for those that are interested
I imagine he's suggesting it's fraud as anything that gives those returns is a risky enough proposition that the return can't be guaranteed. If the return is guaranteed then, assuming that the company doesn't have bucketloads of capital to back it (which is unlikely), someone further down the chain somewhere is likely to suffer.

Fraud may be a strong description but a very healthy level of scepticism is deserved for these kind of things.
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Re: Cryptocurrency

Post by aggi » Fri Aug 27, 2021 1:34 pm

FCBurnley wrote:
Fri Aug 27, 2021 2:14 am
Whatever crypto you buy it’s the fundamentals that matter. XRP has the best fundamentals of any coin. I have been buying since 2017. The SEC has certainly held the price back but hopefully that will soon be resolved. Nobody knows for sure what will happen but if you have money in the bank you are losing year on year. XRP has tremendous potential but no guarantees
The interesting thing with XRP is how dependent it is on Ripple. It looks good on paper but it is also much more subject to one company's whims than a lot of the other coins.

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Re: Cryptocurrency

Post by claret_in_exile » Fri Aug 27, 2021 2:27 pm

XRP is in danger until the SEC lets go of it. The risks in that particular coin are greater than most other similar ones as a result.

I've got into a little bit of staking lately. While they promise you a percentage return, that obviously doesn't account for the fact that the value can go down. I've had my Cardano staked for some time at 5% and did pretty well, but on the other hand, the value of Zilliqua has dropped 40% since I staked it at 13%. If you're DCA'ing into a coin you've convinced by, such as ADA or DOT, and you're HODLing anyway, staking makes sense.

I suspect this current bullrun is about to come to an end after the next BTC moonshot, so I plan on liquidating when/if BTC hits its next all-time high. Do Your Own Research, obviously.
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Re: Cryptocurrency

Post by cockneyclaret » Fri Aug 27, 2021 2:38 pm

claret_in_exile wrote:
Fri Aug 27, 2021 2:27 pm
I suspect this current bullrun is about to come to an end after the next BTC moonshot, so I plan on liquidating when/if BTC hits its next all-time high. Do Your Own Research, obviously.
Definitely agree it's coming to the end, from what I've been watching I expect Btc to drop to around $38/40k then a final run of maybe an ath around the end of the year.
Then I'll move most into usdt
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Re: Cryptocurrency

Post by claret_in_exile » Fri Aug 27, 2021 3:12 pm

Yeah - I've been told by people who look at charts and things and know far more than I do that the run-up may end a lot sooner than that (October?), but that there will be an alt-coin season for a couple of weeks after the ATH. We'll see. It seems to me that BTC is the rising tide that lifts all boats.
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Re: Cryptocurrency

Post by KateR » Sat Aug 28, 2021 6:04 pm

dsr wrote:
Fri Aug 27, 2021 11:40 am
Any scheme that involves guaranteeing 2-10% over three months plus your stake back, is a fraud. It can't be otherwise. There is no honest way to make that guarantee; the money can only come out of either highly speculative profits/gains, or else a Ponzi robbing Peter to pay Paul scheme.
and yet they tell you the details, and month after month deliver, this continued fixation with "no it being a Pyramid or Ponzi scheme" seems a little over cooked now, given how much time and money has flown by. Yes it risky but a lot of these companies are prepared to put the interest back to customers in an effort to slow the wild fluctuations of the market going wildly up/down. Because if it's locked, theoretically you can't sell on a dip, which is what they're trying to slow down (the selling), however even when you stake, you can in many cases withdraw your funds to sell but you lose all benefits you may have gained prior to the withdrawal. Therefore, it's an incentive to keep your funds locked for a given amount of time, by doing it for a month or three months, as I said, so many people are doing it, not just a few but millions and have received these rewards. The actual rewards offered are short term and they do change so it's important to do your homework, I note with interest one major bank changed their saving rate down to 0.02%, but if that's where you want to put your hard earned funds then that's fine, I'm not here trying to convince anyone to buy crypto or to stake.

It's very early days in the crypto world still, these types of incentives will slowly go away as it keeps getting integrated and going main stream, however I do know that banks seems to be very prosperous, offer very little in return so they can invest your money and get high returns while paying you a pittance.
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