I think it means that the number of people who don't realise they're buying something with no intrinsic value and no central bank and government support, hasn't peaked yet; and you can get on the merry-go-round now and still make money as long as you get off before the music stops.
Cryptocurrency
Re: Cryptocurrency
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Re: Cryptocurrency
Sounds about right - my mechanic asked if I knew anything about investing in bitcoins a couple of weeks ago. Someone had told him they'd made thousands recently and he wanted in....
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Re: Cryptocurrency
I just bought $1,000 of ADA on your recommendation, claret_in_exile, so if it bombs I’ll be asking CT for your addressclaret_in_exile wrote: ↑Wed Mar 03, 2021 4:17 pmI put a small amount of my net worth into crypto and consider it mostly speculative.
1/3rd into BTC because institutions love it right now.
1/3rd into ETH because that's a better technology and is getting institutional investment.
1/3rd into ADA because that's the BEST technology thus far, might be getting institutional investment AND it's super cheap right now.
Obviously, ADA is highly speculative, but worth a punt. Ultimately, ETH and ADA are for profit-making, but I plan to keep a bit of BTC on hand for the inevitable collaspe of the global financial system, especially the US dollar, and the impending CBDCs.
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Re: Cryptocurrency
I’ve been looking into Polkacity and earth2 investments recently.
Made a decent little profit on earth2 but think considerable profit can be made on polkacity
Made a decent little profit on earth2 but think considerable profit can be made on polkacity
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Re: Cryptocurrency
Fingers crossed for you there! Definitely risky that buy.
Considering Ada has been living off hype from a white paper for the past 5 years.
I would keep an eye on eth 2.0 as I imagine when that gets released Ada will dump.
Re: Cryptocurrency
lol
check https://www.helium.com/mine
Helium as a company are trying to build a "peoples network" You/anybody buys a hotspot, which transfers data using blockchain. For buying the hotspot/node you are paid in the Helium crypto currency, which is traded as HNT, the price of HNT fluctuates as does any cryptocurrency.
Bottom line, you buy something or a few a lot of somethings (Hotspots/nodes, which is a miner) For the purchase and placing it in a spot you can make cryptocurrency, you can sell your cryptocurrency or let it build. It's a risk but a single miner is between 300 - 500 pounds, there are numerous miners for internal/external use, placement is a critical issue to maximize your revenue.
Most are from single buyers adding a hotspot in the home, however some investors have bought multiple and set up a network over a large area, obviously the more data you transfer/transmit the more cryptocurrency you earn.
Re: Cryptocurrency
Ada is to far along now, it will grow but already has a large market cap for value, which is very important. Ada was a good investment when it was a few pence.
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Re: Cryptocurrency
Couldn't agree more, Ada is near the top end already. Eth is the way to go with a few cheeky quid on chainlink tocockneyclaret wrote: ↑Wed Mar 24, 2021 12:27 pmFingers crossed for you there! Definitely risky that buy.
Considering Ada has been living off hype from a white paper for the past 5 years.
I would keep an eye on eth 2.0 as I imagine when that gets released Ada will dump.
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Re: Cryptocurrency
From what I've been reading alot of eth holders jumped onto Ada before eth 2.0 comes active.. then Ada will dump. I could be wrong but Ada doesn't jump like that for no reason.
And as I've seen further at the post, I wouldn't touch that with a barge pole
Regarding chain link I would imagine ocean pulling a similar run within the next few months.. very similar charts
And as I've seen further at the post, I wouldn't touch that with a barge pole
Regarding chain link I would imagine ocean pulling a similar run within the next few months.. very similar charts
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Re: Cryptocurrency
Thanks for that, going to have a look at ocean this afternooncockneyclaret wrote: ↑Wed Mar 24, 2021 12:40 pmFrom what I've been reading alot of eth holders jumped onto Ada before eth 2.0 comes active.. then Ada will dump. I could be wrong but Ada doesn't jump like that for no reason.
And as I've seen further at the post, I wouldn't touch that with a barge pole
Regarding chain link I would imagine ocean pulling a similar run within the next few months.. very similar charts
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Re: Cryptocurrency
It's around £1.05 atm but definitely have a read up on it
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Re: Cryptocurrency
Hahaha. Oops. Good thing I use a VPN. Or do I?
Since I posted it, it was released on Coinbase, which caused a nice little bump up 20%. Not a bad investment given I've held it for a month and it wasn't a moonshot.
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Re: Cryptocurrency
Does anyone use Crypto.com?
Re: Cryptocurrency
Tried once but the minimum amounts they have for withdrawing to a wallet were to restrictive for me
Re: Cryptocurrency
Crypto magnet is showing off his new post-it note info-wall on his phone.
...Just bought for £69 million, they saw him coming but did he see them?
...Just bought for £69 million, they saw him coming but did he see them?
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Re: Cryptocurrency
No.. just use the main exchanges
Re: Cryptocurrency
Cryptocurrencies are an ecological aberration. All that processing power wasted on "mining". None of it is a necessary part of a block-chain, it's just a nonsensical method of getting other people to invest in hardware that they can piggy back on. It will be a very easy target should governments get serious about reducing CO2 emissions.
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Re: Cryptocurrency
Which are what may I ask?
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Re: Cryptocurrency
Bitcoin back in November. Purely speculative.
Re: Cryptocurrency
Off Crypto? my initial investments are in proffit, I invest a small amount each month as a top up but intend to keep my investments for a long time. The markets are vulnerable and your proffit margin can change by hundreds in the space of a few hours in either direction
Re: Cryptocurrency
I also trade with coinbase pro, not the standard coinbase as the fee's are ridiculous, it is however good for the free crypto you can get from it for their learning scheme.
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Re: Cryptocurrency
Kucoin
Binance
Bitrex
Huobi
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Re: Cryptocurrency
I don't trade crypto and admittedly don't know much about it, just intraday trade on the Dow, FTSE and Dax. What I would say to anyone trading at all just now is that i) volatility is on the rise and ii) equity investors are starting to show signs of fear that stocks are overpriced. It may be there is no correlation between crypto and equity markets, but in my opinion very broadly speaking there is a huge upswing in speculative trading based on nothing very fundamental. I'm sure there's money to be made, but please be careful if you're new to this. I would really urge people not to trade crypto with high leverage from a broker.
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Re: Cryptocurrency
I was printing money shorting the SPX500 a few weeks ago. Bloody markets have calmed down now. Has anyone made ANYTHING lately?
Re: Cryptocurrency
I have highlighted the bit that I would urge people to take from your post. Do not buy cryptocurrencies unless you are prepared to lose the lot. It is a bubble, like the South Sea Bubble, like the Tulip Bulb Bubble.willsclarets wrote: ↑Wed Mar 24, 2021 10:16 pmI don't trade crypto and admittedly don't know much about it, just intraday trade on the Dow, FTSE and Dax. What I would say to anyone trading at all just now is that i) volatility is on the rise and ii) equity investors are starting to show signs of fear that stocks are overpriced. It may be there is no correlation between crypto and equity markets, but in my opinion very broadly speaking there is a huge upswing in speculative trading based on nothing very fundamental. I'm sure there's money to be made, but please be careful if you're new to this. I would really urge people not to trade crypto with high leverage from a broker.
The reason the various "coins" are going up is because more people want them than there are available. They are churning out new "coins" all the time, but as long as demand exceeds supply, they will go up. When there are no longer enough new punters in the game, prices will drop. Bound to.
Why? Because what people are buying has no intrinsic value. It is a fictional concept. It isn't gold, which exists physically. It isn't fiat currency, is is backed and regulated by governments and the people they govern. Cryptocurrencies are fictional, they have no physical existence, they have no intrinsic value, they have no government support for when things go wrong. Which they will.
Buy now, and if the market goes up, you can sell and leave someone else holding the baby. When the music stops, you lose.
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Re: Cryptocurrency
...they process transactions and contracts.
You're talking shite DSR and don't have a clue what you're talking about.
I'll bet you've still got a CRT TV and telling people "when yours breaks you won't be able to take it down the menders to fix it!"
You're talking shite DSR and don't have a clue what you're talking about.
I'll bet you've still got a CRT TV and telling people "when yours breaks you won't be able to take it down the menders to fix it!"
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Re: Cryptocurrency
Arguably a lot of stuff just has value because it's deemed to have value though. Gold and diamonds for instance are valued at far more than their intrinsic value because they have been deemed an aspirational thing to own and they have a level of scarcity.dsr wrote: ↑Thu Mar 25, 2021 12:15 amI have highlighted the bit that I would urge people to take from your post. Do not buy cryptocurrencies unless you are prepared to lose the lot. It is a bubble, like the South Sea Bubble, like the Tulip Bulb Bubble.
The reason the various "coins" are going up is because more people want them than there are available. They are churning out new "coins" all the time, but as long as demand exceeds supply, they will go up. When there are no longer enough new punters in the game, prices will drop. Bound to.
Why? Because what people are buying has no intrinsic value. It is a fictional concept. It isn't gold, which exists physically. It isn't fiat currency, is is backed and regulated by governments and the people they govern. Cryptocurrencies are fictional, they have no physical existence, they have no intrinsic value, they have no government support for when things go wrong. Which they will.
Buy now, and if the market goes up, you can sell and leave someone else holding the baby. When the music stops, you lose.
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Re: Cryptocurrency
** It is a fictional concept. It isn't gold, which exists physically. It isn't fiat currency, is is backed and regulated by governments and the people they govern. Cryptocurrencies are fictional, they have no physical existence, they have no intrinsic value, they have no government support for when things go wrong. Which they will. **
I would agree with this comment back in 2017, but 2021 banks, businesses and governments are all involved.
It's building the future of blockchains, payments and smart contracts.
The fact that the SEC controls what the Americans can trade says it all.
And it's all taxable!
A bit like when that silly thing called the internet came out.. who would need that
I would agree with this comment back in 2017, but 2021 banks, businesses and governments are all involved.
It's building the future of blockchains, payments and smart contracts.
The fact that the SEC controls what the Americans can trade says it all.
And it's all taxable!
A bit like when that silly thing called the internet came out.. who would need that
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Re: Cryptocurrency
** It is a fictional concept. It isn't gold, which exists physically. It isn't fiat currency, is is backed and regulated by governments and the people they govern. Cryptocurrencies are fictional, they have no physical existence, they have no intrinsic value, they have no government support for when things go wrong. Which they will. **
It is why you have to look behind the actual crypto and decide if there is intrinsic value, some of them do, many companies build and sell widgets but still go under, so it's important to look at perceived value and decide if it is something that will likely fold and stop being flavor of the month or will it grow and add value.
I've never done crypto before and am still not into simply trading, it's why I chose Helium and the HNT cryptocurrency, since you can be part of it, help it grow and make money on both ends, it's a risk no doubt but I believe it will be a growing opportunity, where you get paid in cryptocurrency for your investment in the project.
I think you are totally wrong in your assumption DSR, time will tell.
It is why you have to look behind the actual crypto and decide if there is intrinsic value, some of them do, many companies build and sell widgets but still go under, so it's important to look at perceived value and decide if it is something that will likely fold and stop being flavor of the month or will it grow and add value.
I've never done crypto before and am still not into simply trading, it's why I chose Helium and the HNT cryptocurrency, since you can be part of it, help it grow and make money on both ends, it's a risk no doubt but I believe it will be a growing opportunity, where you get paid in cryptocurrency for your investment in the project.
I think you are totally wrong in your assumption DSR, time will tell.
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Re: Cryptocurrency
Nope, it’s been a wild ride on the markets recently.tarkys_ears wrote: ↑Wed Mar 24, 2021 11:51 pmI was printing money shorting the SPX500 a few weeks ago. Bloody markets have calmed down now. Has anyone made ANYTHING lately?
Re: Cryptocurrency
Mainly the former plus my instincts.cockneyclaret wrote: ↑Mon Mar 22, 2021 8:50 pmWhy not?
Is it because you don't understand it or have heard a few horror stories?
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Re: Cryptocurrency
LS7.. have to be honest I would only recommend it if someone that knows there stuff would sit down and go through it all.. far too many choices and yes many will be bad ones. But listening to the right people and doing you own research will make you alot of money.
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Re: Cryptocurrency
People have made money, but only with the occasional moonshot and through your typical day trading. The volatilty is incredible, so lots of profits can be had if you're lucky / good / lucky. Volatilty on altcoins is just too wild and unpredictable and the BTC volatility will lessen as its market cap increases.
Last edited by claret_in_exile on Thu Mar 25, 2021 5:44 pm, edited 1 time in total.
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Re: Cryptocurrency
Excellent point. There are a lot of good projects which are piggybacking on this craze - I'm personally very intrigued by L2 Ethereum such as Cardano as well as Hedera and VeChain, along with whichever project is going to be the dominant NFT player. I'm looking at the quality of the projects and not just the tokenmetrics, which requires technical analyatical capabilities that I don't have.cockneyclaret wrote: ↑Thu Mar 25, 2021 4:22 pmLS7.. have to be honest I would only recommend it if someone that knows there stuff would sit down and go through it all.. far too many choices and yes many will be bad ones. But listening to the right people and doing you own research will make you alot of money.
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Re: Cryptocurrency
Hi dsr, great post. I'm with you on all of this - cryptocurrencies are "fools gold" and it will "end in tears" and financial losses for all those who get involved.dsr wrote: ↑Thu Mar 25, 2021 12:15 amI have highlighted the bit that I would urge people to take from your post. Do not buy cryptocurrencies unless you are prepared to lose the lot. It is a bubble, like the South Sea Bubble, like the Tulip Bulb Bubble.
The reason the various "coins" are going up is because more people want them than there are available. They are churning out new "coins" all the time, but as long as demand exceeds supply, they will go up. When there are no longer enough new punters in the game, prices will drop. Bound to.
Why? Because what people are buying has no intrinsic value. It is a fictional concept. It isn't gold, which exists physically. It isn't fiat currency, is is backed and regulated by governments and the people they govern. Cryptocurrencies are fictional, they have no physical existence, they have no intrinsic value, they have no government support for when things go wrong. Which they will.
Buy now, and if the market goes up, you can sell and leave someone else holding the baby. When the music stops, you lose.
Blockchain? Smart contracts? - they might work, though I think generally only in very special situations - and, in many of the projects people are trying to use blockchain or smart contracts there will always be better ways that use neither blockchain or smart contracts.
Many of us like art. We might buy a painting. The value of the painting might increase in value. If it's rare enough and enough people want to own the painting it can become extremely valuable - think of Van Gogh, Monet, Turner and many more.
But, bitcoin (and all the other cryptos) aren't like "Sunflowers" or "Fighting Temeraire" or "Water Lilies" - they are just "zeros and ones" in a digital record - so, no more attractive to look at than any other "zeros and ones." The day when people decide that they've had enough of bitcoin, well, good luck in selling it to someone else.
Yes, I've done my own research - and these are the conclusions I've come to - and how I will avoid losing money on cryptocurrencies.
Re: Cryptocurrency
t's an absolute sure way to avoid losing money, foolproof I think, but also applies to the you won't be any making money either, it's foolproof both ways.
It's the usual line in the sand, no right or wrong, only what works for you, take your choice and that's it.
It's the usual line in the sand, no right or wrong, only what works for you, take your choice and that's it.
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Re: Cryptocurrency
I'm terms of index trading I love volatility, it's where all the profit is. The hard part of trading is the mental aspect of it. If you can maintain discipline, ignore bias and control fear, you're a long way there. People usually take profits too early and let's losses run too long. You can be wrong two out of three times and make money, as long as your risk/reward ratios are sound. Now crypto is a different beast, I imagine day trading that is high on impossible.claret_in_exile wrote: ↑Thu Mar 25, 2021 5:41 pmPeople have made money, but only with the occasional moonshot and through your typical day trading. The volatilty is incredible, so lots of profits can be had if you're lucky / good / lucky. Volatilty on altcoins is just too wild and unpredictable and the BTC volatility will lessen as its market cap increases.
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Re: Cryptocurrency
Suggest you doubters watch this:
https://www.youtube.com/watch?v=NMRf1zJ-Qe0&t=1s
Unlike Fiat (traditional) currency, which is NOT real, Bitcoin is verifiable real and irreversible. Fiat is just numbers in a computer with each bank having to trust every other banks ledger. Less than 10% of Fiat currency in existence is actually backed by notes and coins. Banks print about 7% new money a year and the government much more than that (especially now).
Bitcoins value comes from the physical effort needed to mint it. The ledger is shared and visible on every computer taking part in the network (even your own PC if you want). To change it maliciously you would need to control more than 50% of the entire networks computing power. Every new block produced makes the previous one exponentially more difficult to undue. Bitcoin will take over Fiat.
https://www.youtube.com/watch?v=NMRf1zJ-Qe0&t=1s
Unlike Fiat (traditional) currency, which is NOT real, Bitcoin is verifiable real and irreversible. Fiat is just numbers in a computer with each bank having to trust every other banks ledger. Less than 10% of Fiat currency in existence is actually backed by notes and coins. Banks print about 7% new money a year and the government much more than that (especially now).
Bitcoins value comes from the physical effort needed to mint it. The ledger is shared and visible on every computer taking part in the network (even your own PC if you want). To change it maliciously you would need to control more than 50% of the entire networks computing power. Every new block produced makes the previous one exponentially more difficult to undue. Bitcoin will take over Fiat.
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Re: Cryptocurrency
Whether its utility and value is authentic is one thing, whether it's currently priced fairly is another. In this regard it's the same as any stock. It's hard to see how Tesla's stock price has anything to do with its underlying fundamentals just now. And currently we're seeing a lot of that, inflated prices and speculation that is hard to justify based on performance or outlook. According to the markets, covid has been a good thing.
Re: Cryptocurrency
If you like football and have interest in crypto I can thoroughly recommend Sorare.
The company has recently raised $50m investment.
https://www.bloomberg.com/news/articles ... irm-sorare
A unique Ronaldo card just sold for $290000
https://cryptobriefing.com/unique-crist ... 00-sorare/
If you sign up using this link you’ll get a free rare card after you’ve bought five from new signings and I will receive a free card too. Some of the free cards are only worth £30 or so but some have received a free Mbappe worth thousands. Happy to help anyone wanting to give it a go.
Just paste this link into your browser sorare.com/r/utckro
The company has recently raised $50m investment.
https://www.bloomberg.com/news/articles ... irm-sorare
A unique Ronaldo card just sold for $290000
https://cryptobriefing.com/unique-crist ... 00-sorare/
If you sign up using this link you’ll get a free rare card after you’ve bought five from new signings and I will receive a free card too. Some of the free cards are only worth £30 or so but some have received a free Mbappe worth thousands. Happy to help anyone wanting to give it a go.
Just paste this link into your browser sorare.com/r/utckro
Re: Cryptocurrency
It is nothing like a stock at all. The price is based on the fact there will only ever me 21 million Bitcoin and that last won't be produced until 2040. Every 3 years or so, the amount of bitcoin minted halves and there are already millions of the Bitcoin that were minted very early on that are now considered lost. As more and more institutional investment moves into the space, there is less and less to go around and the situation is only getting worse. Canada has already approved an ETF and a few are on the cards in the US. This will allow you to include BTC in your pensions. This is why the price always has and always will go up over time. It was designed from the very start to be deflationary in nature and to increase in value over time.willsclarets wrote: ↑Thu Mar 25, 2021 9:25 pmWhether its utility and value is authentic is one thing, whether it's currently priced fairly is another. In this regard it's the same as any stock. It's hard to see how Tesla's stock price has anything to do with its underlying fundamentals just now. And currently we're seeing a lot of that, inflated prices and speculation that is hard to justify based on performance or outlook. According to the markets, covid has been a good thing.
If you don't want to invest, put your money in the bank. There you can guarantee it's value drops by at least 7% a year in real terms.
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Re: Cryptocurrency
I would certainly look at the polka network which will come ahead this year. (Polkadot and kusama)claret_in_exile wrote: ↑Thu Mar 25, 2021 5:43 pmExcellent point. There are a lot of good projects which are piggybacking on this craze - I'm personally very intrigued by L2 Ethereum such as Cardano as well as Hedera and VeChain, along with whichever project is going to be the dominant NFT player. I'm looking at the quality of the projects and not just the tokenmetrics, which requires technical analyatical capabilities that I don't have.
Gavin Wood who built eth with Vitalik Buterin has created polkadot. This is the next generation eth..
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Re: Cryptocurrency
Some people just don't like moneyKateR wrote: ↑Thu Mar 25, 2021 8:49 pmt's an absolute sure way to avoid losing money, foolproof I think, but also applies to the you won't be any making money either, it's foolproof both ways.
It's the usual line in the sand, no right or wrong, only what works for you, take your choice and that's it.
But that's there choice..
Re: Cryptocurrency
I'd be very surprised if they are still minting (mining?) Bitcoin in 2040. The amount of electricity it uses now is phenomenal, and it increases exponentially. (To use a fashionable word.)Steddyman wrote: ↑Thu Mar 25, 2021 10:10 pmIt is nothing like a stock at all. The price is based on the fact there will only ever me 21 million Bitcoin and that last won't be produced until 2040. Every 3 years or so, the amount of bitcoin minted halves and there are already millions of the Bitcoin that were minted very early on that are now considered lost. As more and more institutional investment moves into the space, there is less and less to go around and the situation is only getting worse. Canada has already approved an ETF and a few are on the cards in the US. This will allow you to include BTC in your pensions. This is why the price always has and always will go up over time. It was designed from the very start to be deflationary in nature and to increase in value over time.
If you don't want to invest, put your money in the bank. There you can guarantee it's value drops by at least 7% a year in real terms.
(If your money in the bank is dropping by 7% in real terms, then I suggest you find a bank with lower charges, or else move to a lower inflation area.)
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Re: Cryptocurrency
Steddyman wrote: ↑Thu Mar 25, 2021 10:10 pmIt is nothing like a stock at all. The price is based on the fact there will only ever me 21 million Bitcoin and that last won't be produced until 2040. Every 3 years or so, the amount of bitcoin minted halves and there are already millions of the Bitcoin that were minted very early on that are now considered lost. As more and more institutional investment moves into the space, there is less and less to go around and the situation is only getting worse. Canada has already approved an ETF and a few are on the cards in the US. This will allow you to include BTC in your pensions. This is why the price always has and always will go up over time. It was designed from the very start to be deflationary in nature and to increase in value over time.
If you don't want to invest, put your money in the bank. There you can guarantee it's value drops by at least 7% a year in real terms.
I didn't mean to say it's like a stock, more that there is a whiff of opportunism in the air across markets that is pushing prices up. Retail investor numbers have boomed, buying meme stocks, blue chips, crypto etc in a game of speculation, not investment. If you say bitcoin or any crypto is bullet proof, then I'm afraid I don't believe you. Institutional investment means they can also help dump the price for a start if they think it's overvalued. Crypto may keep rising, but there's something going on in the markets that feels very bubble-like.
Re: Cryptocurrency
What are your thoughts on these 2 future price wise? are you thinking ETH levels or less?cockneyclaret wrote: ↑Thu Mar 25, 2021 10:26 pmI would certainly look at the polka network which will come ahead this year. (Polkadot and kusama)
Gavin Wood who built eth with Vitalik Buterin has created polkadot. This is the next generation eth..
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Re: Cryptocurrency
Ksm is the one with the most room to move due to the supply and requirements from it so other tokens can apply for a parachain slot on it.
I wouldn't be shocked to see ksm at £800+ especially as there parachain auctions start soon.
Then who knows on price, most will be locked up (6-24 months) which will push the price up.
Dot
There auction slots will begin later in the year but again will push the price up.
Personally I'm looking at £60+ then again holding that price and moving from there.
Then you have the new tokens running off either ksm/dot ecosystems.
The next one I'm going all in on is KILT this has yet to be released for general sale. But will gain a ksm parachain slot.
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Re: Cryptocurrency
Cockney I Invested in theta and dot last week, what’s your thoughts on Theta I have made good profit in a week but do you think there is long term profit to be made. I was hoping it would reach 20£ by April next yearcockneyclaret wrote: ↑Fri Mar 26, 2021 9:06 amKsm is the one with the most room to move due to the supply and requirements from it so other tokens can apply for a parachain slot on it.
I wouldn't be shocked to see ksm at £800+ especially as there parachain auctions start soon.
Then who knows on price, most will be locked up (6-24 months) which will push the price up.
Dot
There auction slots will begin later in the year but again will push the price up.
Personally I'm looking at £60+ then again holding that price and moving from there.
Then you have the new tokens running off either ksm/dot ecosystems.
The next one I'm going all in on is KILT this has yet to be released for general sale. But will gain a ksm parachain slot.
Re: Cryptocurrency
Theta looks good to me for more movement but I wouldn't expect it to double it's market cap by next year, i think it is a good solid long term investment though, just my point of view of course