Cryptocurrency

[Carport]

What hardware wallet would anyone recommend ?

[FCBurnley]

I got on when you posted at 0.41, so currently seeing some very nice returns. Also worth noting that I did the same with KateR’s recommendation, I got on at £4.56 and it’s currently over £13

Hope you are sitting tight at current price of $1.80. Long way to go yet. Will be some retracing along the way so stay strong.

[Newcastleclaret93]

Hope you are sitting tight at current price of $1.80. Long way to go yet. Will be some retracing along the way so stay strong.

I think I’m going to Hodl until 2.50 then cash out

[Loyalclaret]

I have no intention of investing in any coins however I met a friend for a quick pint this afternoon (first one in a beer garden which felt good) . He had started with £1,500 and was currently on £60,000 - he was pretty much glued to his screen

[tarkys_ears]

Mad a couple of quid on ETC and BCH today then went and hid it all back in my ETH.

Not for the feint hearted is this trading lark, it's so volatile!

[Lowbankclaret]

Mad a couple of quid on ETC and BCH today then went and hid it all back in my ETH.

Not for the feint hearted is this trading lark, it's so volatile!

I find it interesting that this thread survived so long when most investing threads get shut down.

Cryptocurrency is very volatile, my XRP was up 13% when I woke at 6am Friday morning. I thought I would wait till I got up later that morning. It was back to up 5% so I didn’t sell. It’s now minus 5% and did not minus 13% today, which I would have bought back in at if I had sold at 6am Friday.

Lesson learnt.

[taio]

I find it interesting that this thread survived so long when most investing threads get shut down.

Cryptocurrency is very volatile, my XRP was up 13% when I woke at 6am Friday morning. I thought I would wait till I got up later that morning. It was back to up 5% so I didn’t sell. It’s now minus 5% and did not minus 13% today, which I would have bought back in at if I had sold at 6am Friday.

Lesson learnt.

Agree with this completely - far more volatile and risky in comparison to some solid options you've previously highlighted on here in the past.

[Lowbankclaret]

Agree with this completely - far more volatile and risky in comparison to some solid options you've previously highlighted on here in the past.

Plus in line with comments I have made in the past, cryptocurrency represents 0.3% of my investments portfolio. No betting the ranch so to speak. But it adds interest to a day when your retired.

[Lowbankclaret]

Agree with this completely - far more volatile and risky in comparison to some solid options you've previously highlighted on here in the past.

S & P 500 continues with its above 10% gain year on year. Cannot get that at your nearest bank.

[tarkys_ears]

Was watching Bloomberg the other day when Coinbase was launching on the NASDAQ.

They mentioned that at Q4 2020 the crypto market cap was about $700bn, it's $2tn now.

That's a bit of growth, innit.

I wasn't around back then but I guess this is what it was like in the 80s on Wall Street and maybe the .com boom?

[taio]

S & P 500 continues with its above 10% gain year on year. Cannot get that at your nearest bank.

My stocks and shares ISA is up over 8% in recent weeks. From what I remember of your portfolio you must be seeing some impressive gains.

[Lowbankclaret]

My stocks and shares ISA is up over 8% in recent weeks. From what I remember of your portfolio you must be seeing some impressive gains.

Well done you, mine went up to 17%. On the massive move from Tech it dipped to minus 1%. Like yours its around up 9% at the moment.

[bfcmatt]

Very happy with my chainlink at the minute, bought at £14 each and currently between £30 - £32 each

[Hedontplayforyou]

Definitely worth looking and investing in, probably for the returns side Kilt when that comes out because it'll be at a low entry.
But holding eth and link your sorted!! I never bothered with link at .35p and didn't at £1.50 oh well can't get them all

Where can I buy Kilt when it does come out? Also when will it be doing so?

I’m pretty new to this , I bought into VeChain and that seems to have done pretty well lately...

[Longsider]

Coinbase IPO shafted a lot of people. S@p 500 is a good tracker to invest passively in. Tech is still churning out good results. Amazon stock is unreal. I can see it passing 4k a pop in 6 months. Remember folks do your own research.

[Barry_Chuckle]

Can someone point out which app I can trade some of these coins please. I have etoro and crypto.com app but can't find ewt, mir or pha on either app to trade. Both appear to focus on the main coins.
I have coin gheko app which is interesting, but when I tap to trade on there it pushes me towards the 2 apps I already have.
Are there more suitable apps to trade on where I could trade the "riskier" crypto currencies?

[tarkys_ears]

Binance, blockfolio two that I know of.

I don't use anything but coinbase though

[Billy Balfour]

People that own cryptocurrency

https://twitter.com/BrentTerhune/status ... 57795?s=19

[Zlatan]

People that own cryptocurrency

https://twitter.com/BrentTerhune/status ... 57795?s=19

“I used to be a vegan cross fitter with an air fryer”

[bfcmatt]

Where can I buy Kilt when it does come out? Also when will it be doing so?

I’m pretty new to this , I bought into VeChain and that seems to have done pretty well lately...

https://www.kilt.io/learn/faq/

[cockneyclaret]

Can someone point out which app I can trade some of these coins please. I have etoro and crypto.com app but can't find ewt, mir or pha on either app to trade. Both appear to focus on the main coins.
I have coin gheko app which is interesting, but when I tap to trade on there it pushes me towards the 2 apps I already have.
Are there more suitable apps to trade on where I could trade the "riskier" crypto currencies?

For the majority of coins and those mentioned above you'll need to sign up to the online exchanges.
These 2 will do you fine and both can be used on pc and mobile
Kucoin and Binance

[DCWat]

Elon pulls out of Bitcoin transactions to purchase their cars.

[Loyalclaret]

When does he announce you can buy it with dogecoin?

[Paul Waine]

Elon pulls out of Bitcoin transactions to purchase their cars.

When does he announce you can buy it with dogecoin?

Mr Musk "dissed" dogecoin on his tv show last week. He's now pulling Tesla out of accepting bitcoin. I wonder how many transactions were completed with bitcoin? I wonder how much Elon has made with his very public announcements over the past several weeks?

For the avoidance of any possible doubt: I don't recommend any cryptocurrencies. I believe it was Andrew Bailey who has recently said "be prepared to lose all..." if you buy cryptos.

[Hedontplayforyou]

What’s going on with the crypto market?! Has the bubble burst?

[tarkys_ears]

What’s going on with the crypto market?! Has the bubble burst?

Nah it's just on sale at the moment.

Fill yer boots!

[bfcjg]

To me this just sounds like a massive pyramid selling scheme. Not really backed up by reputable central banks or governments, my money as boring as it sounds is still in shares gilts banks etc.

[Taffy on the wing]

“ a fool and his money are soon separated “
It all feels like a nonsense to me.

[Gordaleman]

How can businesses trade with something as volatile as cryptos? They need certainty when ordering months in advance, or offering their products months in advance. Yesterday alone, Bitcoin had a swing of about $10,000.

Absolutely useless to any business. Imagine getting an order for $10,000, only to find out 24 hours later that the price has fallen and you've actually lost money on it. Yes, I suppose it could work the other way, but then you're just gambling.

[StuffyClaret]

Slightly off topic this but has anybody looked at Cash FX?

I was quite sceptical of what it proposed when I was first introduced to it but I decided to take a punt with a small (relative to me) one-off outlay that I was prepared to lose.
The scheme aims to provide a passive income through Forex Trading (by professionals) that builds up significantly over a period of time. There is also a referral scheme which obviously raises some red flags but I was keen to see if it worked without referring folk first. I have been returning about 5% per week since I started and it seems to be doing all that it promised.

Interested to see other folks opinions

UTC

[NRC]

I’m so ****** with myself for selling Bitcoin 4 years ago - I had 5 of them. And I sold ETH 3 months ago. Clearly I’m not good at this. My 8k portfolio of 2 weeks ago reduced to just over 4 k this week week.

So what did I do today? Bought 5k worth of BTC - buying the dip.

Doing this because I made a disastrous foray into a stock, FPVD with a 10k punt and I’ve lost 90%

[dsr]

I’m so ****** with myself for selling Bitcoin 4 years ago - I had 5 of them. And I sold ETH 3 months ago. Clearly I’m not good at this. My 8k portfolio of 2 weeks ago reduced to just over 4 k this week week.

So what did I do today? Bought 5k worth of BTC - buying the dip.

Doing this because I made a disastrous foray into a stock, FPVD with a 10k punt and I’ve lost 90%

Perhaps it's time to take note of Jeff Stelling's warnings on his betting adverts.

Chasing losses is mental. Laying out thousands at something you know you aren't good at, it the sign of a problem. And if you can't make money in a vast bull market/Ponzi scheme when things are running well, what chance have you when it goes belly up?

[tarkys_ears]

I’m so ****** with myself for selling Bitcoin 4 years ago - I had 5 of them. And I sold ETH 3 months ago. Clearly I’m not good at this. My 8k portfolio of 2 weeks ago reduced to just over 4 k this week week.

So what did I do today? Bought 5k worth of BTC - buying the dip.

Doing this because I made a disastrous foray into a stock, FPVD with a 10k punt and I’ve lost 90%

Diamond hands baby!

Diamond Hands!!

[Ric_C]

Prices keep dropping.

Bitcoin is now at 25k and Ethereum is at 1.5k (dropping another 11% in a day) so the question is..is it a good time to buy? Or are the prices going to keep dropping?

[Claretforever]

Prices keep dropping.

Bitcoin is now at 25k and Ethereum is at 1.5k (dropping another 11% in a day) so the question is..is it a good time to buy? Or are the prices going to keep dropping?

Certain analysts have been suggesting Bitcoin may fall to around the $28K (£21K?) mark before rebounding up properly. Other coins will fall with it of course. Saturday and Sunday nights, usually around 3-5am UK time, seems to be the usual time it tanks, so let’s see what tonight brings.

[ClaretAndJew]

Certain analysts have been suggesting Bitcoin may fall to around the $28K (£21K?) mark before rebounding up properly. Other coins will fall with it of course. Saturday and Sunday nights, usually around 3-5am UK time, seems to be the usual time it tanks, so let’s see what tonight brings.

It fell to £20k a couple of days ago.

I've got about 31 ADA Coins. Either in a few years they will be worth a lot or they won't but I ain't in the market to dip hundreds/thousands into it.

Logically if you do not sell you've not lost, and if you buy in at a less price than originally you will always be up, if the value goes up, but that's the gamble, if.

I personally think the fact Crypto is so popular now means it's too late to ever make a killing off it. The time for getting rich is when no one was doing it. We can't all be rich.

[benstone12]

word of warning on CashFX.
https://tbbob.com/scams/brutal-scam-cas ... oup-review

[tim_noone]

I have no intention of investing in any coins however I met a friend for a quick pint this afternoon (first one in a beer garden which felt good) . He had started with £1,500 and was currently on £60,000 - he was pretty much glued to his screen

£60,000 minus? Ffs!!! I'd be glued to the wall.

[dsr]

Prices keep dropping.

Bitcoin is now at 25k and Ethereum is at 1.5k (dropping another 11% in a day) so the question is..is it a good time to buy? Or are the prices going to keep dropping?

In all markets, prices depend on what other people believe. When the majority think it's a good time to sell, the price falls. When they think it's a good time to buy, the price rises.

In stock markets and normal currency markets, there is hard evidence in the background - the company's trading position, or the state of the country's economy. That factors in to why people believe it's time to buy, sell, or hold. But ultimately, if there are more sellers than buyers, the price drops.

This is why bucking the trend on the stock market is as hard as beating the bookies. Because you're competing with the full time professionals who work in the business and who know more than the part-timers.

Cryptocurrency doesn't have that hard background evidence. It's purely speculative, and the price rises when there are more buyers than sellers just like other stocks. And the reason it has rocketed up so fast is because more people have wanted to get into the market than wanted to get out. Obviously this can't last for ever because there number of investors is finite; there will reach a time when no more people want to get in than want to get out. The problem being that because it's so speculative, founded on sand if you like, then like with other bubbles such as the South Sea bubble, the whole thing may go pop and become worthless.

[Leisure]

£60,000 minus? Ffs!!! I'd be glued to the wall.

Tim - £60,000 -
It's a hyphen not a minus!! Doh!

[Untinted Glasses]

Bitcoin is just a pyramid and will collapse when those at the top wish it to.
Very risky

[aggi]

In all markets, prices depend on what other people believe. When the majority think it's a good time to sell, the price falls. When they think it's a good time to buy, the price rises.

In stock markets and normal currency markets, there is hard evidence in the background - the company's trading position, or the state of the country's economy. That factors in to why people believe it's time to buy, sell, or hold. But ultimately, if there are more sellers than buyers, the price drops.

This is why bucking the trend on the stock market is as hard as beating the bookies. Because you're competing with the full time professionals who work in the business and who know more than the part-timers.

Cryptocurrency doesn't have that hard background evidence. It's purely speculative, and the price rises when there are more buyers than sellers just like other stocks. And the reason it has rocketed up so fast is because more people have wanted to get into the market than wanted to get out. Obviously this can't last for ever because there number of investors is finite; there will reach a time when no more people want to get in than want to get out. The problem being that because it's so speculative, founded on sand if you like, then like with other bubbles such as the South Sea bubble, the whole thing may go pop and become worthless.

Saying that, most managed funds underperform against trackers over the years so that expertise is questionable.

And on the flip side there is that hard background evidence for crypto if you seek it out. Market performance, technical white papers, etc. Now of course investments aren't rational so the best technical projects aren't necessarily the ones that actually perform best, hence plenty going pop.

[dsr]

Saying that, most managed funds underperform against trackers over the years so that expertise is questionable.

And on the flip side there is that hard background evidence for crypto if you seek it out. Market performance, technical white papers, etc. Now of course investments aren't rational so the best technical projects aren't necessarily the ones that actually perform best, hence plenty going pop.

By "hard background evidence" I mean that there is actual tangible stuff in the background. Assets. When you buy a company share, you are only buying a piece of paper but that paper is supported by buildings, stocks, an actual business earning actual money. If I buy shares in BP I have an idea of how BP is going to make money and therefore be able to pay me a dividend, and I have a reason why people in future will want that share.

With cryptocurrencies, I don't have that. They don't have assets, they don't have income. If I buy crypto, all I am buying is a piece of paper and there is no tangible reason why anyone in future would buy it off me, except for the "bubble" hope that prices will rise.

[SalouClaret]

I bought £1,100 worth of BAT a few years ago when it was 11p. It's currently hovering around 50p but was £1.20 a month ago! Maybe I should have sold

[aggi]

By "hard background evidence" I mean that there is actual tangible stuff in the background. Assets. When you buy a company share, you are only buying a piece of paper but that paper is supported by buildings, stocks, an actual business earning actual money. If I buy shares in BP I have an idea of how BP is going to make money and therefore be able to pay me a dividend, and I have a reason why people in future will want that share.

With cryptocurrencies, I don't have that. They don't have assets, they don't have income. If I buy crypto, all I am buying is a piece of paper and there is no tangible reason why anyone in future would buy it off me, except for the "bubble" hope that prices will rise.

I guess that depends on the company you're buying into. Plenty of companies have intangible assets as their only real asset. Plenty of businesses own little of their own infrastructure and rack up huge losses but are judged to be highly valuable.

I think you're misunderstanding what a lot of cryptocurrency is. In many cases it is less akin to a currency than a share. Most of the tokens have a technology behind them and they are an investment in that technology rather than a purchase of that currency. It's more akin to an IPO (but without a lot of the regulations, hence a lot of dubious schemes).

[dsr]

I guess that depends on the company you're buying into. Plenty of companies have intangible assets as their only real asset. Plenty of businesses own little of their own infrastructure and rack up huge losses but are judged to be highly valuable.

I think you're misunderstanding what a lot of cryptocurrency is. In many cases it is less akin to a currency than a share. Most of the tokens have a technology behind them and they are an investment in that technology rather than a purchase of that currency. It's more akin to an IPO (but without a lot of the regulations, hence a lot of dubious schemes).

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.

[Fretters]

I've just bought 3.8 million Shina for £25

That's £300 invested in total in a few different ones. The plan is to withdraw 25% each time my bank doubles or more.

We'll see what happens but it's only £300 lost if it all bombs.

[NRC]

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.

You could say the same thing about gold or silver, dsr. Value only exists because it derives from a standard of measure. Why should a precious metal be that standard, because it’s limited? They’re still digging it out of the ground aren’t they? At least Bitcoin has a finite quantity making it a better standard. That it is virtual and not “real” is irrelevant ( I prefer digital as a descriptor rather than virtual). By the same token, cash isn’t real, it’s an IOU replacement

[ClaretAndJew]

You could say the same thing about gold or silver, dsr. Value only exists because it derives from a standard of measure. Why should a precious metal be that standard, because it’s limited? They’re still digging it out of the ground aren’t they? At least Bitcoin has a finite quantity making it a better standard. That it is virtual and not “real” is irrelevant ( I prefer digital as a descriptor rather than virtual). By the same token, cash isn’t real, it’s an IOU replacement

Also, if we all tried to withdraw our physical cash there wouldn't be enough of it. This is just as real as anything else, it's just new so it's volatile, but what isn't?

[Falcon]

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.