Bitcoin/cryptocurrency thread

[Kapowzer]

13 hours ago, Busta Nut said:

Anyone been pumped by this sorta stuff?

Not pumped, done better than I would in the stock market, some of it due to dumb luck and could have certainly made a fortune if I was reading more a few years back rather than being passive as I was.

Now I've got a few strategies going and things are looking good. But it was looking that way in mid May and it all went south very quickly. I lost about 70% of my portfolio value at it's worst but did climb back slowly but is far off yet to meeting those highs. Hopefully some of the stuff I did this week will pay off.

It's never easy selling something you bought for 4.5cents each for 1.8 but the money could be better used elsewhere in the short term rather than holding in the hope it came to fruition over time. 

Only invest what you can prepared to loose I guess.

[Suspect Device]

17 minutes ago, Kapowzer said:

Not pumped, done better than I would in the stock market, some of it due to dumb luck and could have certainly made a fortune if I was reading more a few years back rather than being passive as I was.

Now I've got a few strategies going and things are looking good. But it was looking that way in mid May and it all went south very quickly. I lost about 70% of my portfolio value at it's worst but did climb back slowly but is far off yet to meeting those highs. Hopefully some of the stuff I did this week will pay off.

It's never easy selling something you bought for 4.5cents each for 1.8 but the money could be better used elsewhere in the short term rather than holding in the hope it came to fruition over time. 

Only invest what you can prepared to loose I guess.

Surely that depends what you invested in?

 

And lose, not loose.

[gaz5]

Surely that depends what you invested in?
 
And lose, not loose.

I'm now over 200% ROI on my crypto portfolio since February.

I'm 9% ROI on my ISA in the same period.

I guess it's possible to make that kind of return in equities by picking the right stocks, but they're far more "few and far between" then in crypto IMO.

As a complete crypto noob my returns in the first half of the year were mostly dumb luck and even now having spent 10 months learning I know I could have tripled or more the return I have.

I'm fine that people don't like crypto, but for me it's been an enjoyable experience and one I'll stay involved in with a portion of my overall investment portfolio.

[Aufc]

Yeah I’ll echo above. I have a spreadsheet which works out my profit which currently sits about 9k. Of course I need to crystallise that for it to be an actual profit. However, the coins I have are all long term holds which should be up no matter what. I’m hopeful that vechain will hit £1 in the future which will give me a fairly large profit

[Suspect Device]

8 minutes ago, gaz5 said:

I'm now over 200% ROI on my crypto portfolio since February.

I'm 9% ROI on my ISA in the same period.

I guess it's possible to make that kind of return in equities by picking the right stocks, but they're far more "few and far between" then in crypto IMO.

As a complete crypto noob my returns in the first half of the year were mostly dumb luck and even now having spent 10 months learning I know I could have tripled or more the return I have.

I'm fine that people don't like crypto, but for me it's been an enjoyable experience and one I'll stay involved in with a portion of my overall investment portfolio.

That's a very good return on both. A lot to do with timing obviously. 

I'm not completely against crypto. It looks like a way of making a very good return in a short time. Or losing. 

As part of a diversified investment portfolio it could be useful. Especially for the younger more risk on investor. As long as no-one is mad enough to bet all their eggs in the crypto basket.

Just jealous I never bought in when my mate advised me to. I'm too old and close to my pension age to go for it in any big way.

[Kapowzer]

54 minutes ago, Suspect Device said:

Surely that depends what you invested in?

 

And lose, not loose.

We'll put that down to a typo than a poor education.

I conveyed earlier in the thread, my initial 10k investment became 450k in January 2018 after only 8 months, the gains happened in the last fortnight of the year. It dropped back to triple my initial investment rather than 45x in a few months. The FOMO train is hard to get off of.

Not much on the Footsie than can emulate that .... that is if I got out at the right time.

[DiegoDiego]

Just jealous I never bought in when my mate advised me to. I'm too old and close to my pension age to go for it in any big way.

Aye, I wouldn't recommend my father get involved in it, but the whole thing could go to zero and it wouldn't affect my lifestyle in the slightest.

I am at the stage where my monthly unrealised gains are more than my pay slip*, so I probably will have some important decisions to make over the next few years.

*obviously recent years have been good ones and the future might not be so kind, but you know what I'm getting at.

[gaz5]

That's a very good return on both. A lot to do with timing obviously. 
I'm not completely against crypto. It looks like a way of making a very good return in a short time. Or losing. [emoji2]
As part of a diversified investment portfolio it could be useful. Especially for the younger more risk on investor. As long as no-one is mad enough to bet all their eggs in the crypto basket.
Just jealous I never bought in when my mate advised me to. I'm too old and close to my pension age to go for it in any big way.

So the "get rich quick, YOLO" crowd are the ones likely to lose our at the very least be holding red bags into the next cycle.

I've never been in it for the "quick buck" plus I'm genuinely interested in the tech (and markets in general).

For me I think making life changing money from crypto is a 2 cycle (5-6 year) game at least so that's what I'm planning for.

This cycle I got into late (though still IMO plenty of upside to come) so it's about making enough to take out my capital and de-risk completely leaving a significant enough amount remaining (after tax) to build a portfolio that will bring my retirement date forward by 10 years in the next cycle.

For me, that's what "life changing" money means. I don't care about cars and watches and all that jazz. In my head I know the figure that I want (after tax) to be able to retire and my pension is geared towards providing that from 60. My ISA is there so that every multiple of that amount I make is a year I can retire early and I look at crypto the same way. Every multiple of that figure crypto returns is a year early I can retire.

At the end of this cycle my capital risk in crypto will be zero (if it goes to plan the next 3 months) and by the end of next cycle I'll be retiring in my late 40's, hopefully.

That's long term plan.

[Suspect Device]

11 minutes ago, Kapowzer said:

We'll put that down to a typo than a poor education.

I conveyed earlier in the thread, my initial 10k investment became 450k in January 2018 after only 8 months, the gains happened in the last fortnight of the year. It dropped back to triple my initial investment rather than 45x in a few months. The FOMO train is hard to get off of.

Not much on the Footsie than can emulate that .... that is if I got out at the right time.

Certainly nothing I can think of in any of the markets going up that much. I've only ever had one 10 bagger (Sound Oil) and I've been investing for over 25 years. That took over 5 years to get there though, not 8 months.

ETA. Sound also fell like a stone after reaching the 1000% gain so it's not too different to the crypto volatility.

ASOS and Fevertree would have been 10 baggers but I sold too early. Again it would have been years to get there. 

 

Edited October 22, 2021 by Suspect Device

[Suspect Device]

6 minutes ago, gaz5 said:

So the "get rich quick, YOLO" crowd are the ones likely to lose our at the very least be holding red bags into the next cycle.

I've never been in it for the "quick buck" plus I'm genuinely interested in the tech (and markets in general).

For me I think making life changing money from crypto is a 2 cycle (5-6 year) game at least so that's what I'm planning for.

This cycle I got into late (though still IMO plenty of upside to come) so it's about making enough to take out my capital and de-risk completely leaving a significant enough amount remaining (after tax) to build a portfolio that will bring my retirement date forward by 10 years in the next cycle.

For me, that's what "life changing" money means. I don't care about cars and watches and all that jazz. In my head I know the figure that I want (after tax) to be able to retire and my pension is geared towards providing that from 60. My ISA is there so that every multiple of that amount I make is a year I can retire early and I look at crypto the same way. Every multiple of that figure crypto returns is a year early I can retire.

At the end of this cycle my capital risk in crypto will be zero (if it goes to plan the next 3 months) and by the end of next cycle I'll be retiring in my late 40's, hopefully.

That's long term plan.

Good luck anyway.

I retired this year but my plan had been to retire at 50. Only 3 years late but I blame getting married and having a kid on the delay, not my lack of luck on the investment front. 

[iron mike python]

On 20/10/2021 at 18:32, iron mike python said:

Happy ATH day. I reckon it will be a rotation from BTC>ETH ATH> ALTS coming up.

 

Below is the futures competition I mentioned above which is now live. All you need is a twitter and a metamask wallet (no money needed) $50k  in prizes

 

 

By any chance did anyone try this competition I mentioned?

3000 people joined up, I am currently in the top 20, would get a $500 prize..... but I'm wanting the big money which is the top 3 spots. I've never used futures before but apparently I am good with knowing when to long and when to short.

[Satoshi]

Wild, even for the crypto world. I have stayed out of Shibu after a minor burn in Doge but will go into Floki as the next potential meme coin. Genius move to advertise it on the London subway.

It is nonsense of course, but it's worth a $500 punt. Maybe it will be a cat meme coin next...

[DiegoDiego]

No matter how good an investment Shiba or Doge would have been I don't think I could have brought myself to buy a meme coin.

PTTGOMN: the recurring glitch in coinmarketcap which every few weeks makes me think my portfolio has gone up 30% overnight before realising they're displaying the US dollar value next to the £.

[Detournement]

5 hours ago, Satoshi said:

Wild, even for the crypto world. I have stayed out of Shibu after a minor burn in Doge but will go into Floki as the next potential meme coin. Genius move to advertise it on the London subway.

It is nonsense of course, but it's worth a $500 punt. Maybe it will be a cat meme coin next...

How would anyone possibly get their $5 billion of SHIB  converted into something which can be used to buy stuff though?

Edited October 28, 2021 by Detournement

[Bairnardo]

My 20 quid worth of Shib is now worth 170. I had said if it got to enough to buy an extra quant token I would do that, but now wondering how fucking far can this thing go

[Satoshi]

3 minutes ago, Detournement said:

How would anyone possibly get their $5 billion of SHIB though converted into something which can be used to buy stuff though?

It's not particularly difficult to convert many cryptocurrencies (including SHIB) to a FIAT currency. Or to other cryptocurrencies.

Trying to shift $5 billion at once may cause an issue granted.

[iron mike python]

33 minutes ago, Detournement said:

How would anyone possibly get their $5 billion of SHIB though converted into something which can be used to buy stuff though?

Vitalik Buterin donated his $1 Billion Shiba Inu tokens to an Indian Covid Relief fund earlier this year (who would have sold it...) and the price is much higher now (It did crash at the time though because it was a very public event)

[iron mike python]

Happy Ethereum all time high day to all Ethereum friends on Pie and Bovril!

[Zetterlund]

58 minutes ago, iron mike python said:

Happy Ethereum all time high day to all Ethereum friends on Pie and Bovril!

Gas fees are outrageous these days. Ethereum really is a plaything for the rich in cryptoland.

I recall thinking not so long ago that anything approaching $10 for gas was getting silly. Right now it would cost me nearly $300 to claim my StrongBlock earnings.

[welshbairn]

Squid Game cryptocurrency collapses in apparent scam