Bitcoins and Other Crypto-currencies

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Oblomov Boblomov
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PostRe: Bitcoins and Other Crypto-currencies
by Oblomov Boblomov » Mon May 24, 2021 11:18 am

It's looking better now – good for you diamond handed hodlers in here!

I would say I'm just glad to be out and not have to think about it, but for some reason I'm still checking the price every now and then :slol:.

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Drumstick
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PostRe: Bitcoins and Other Crypto-currencies
by Drumstick » Mon May 24, 2021 11:22 am

Oblomov Boblomov wrote:It's looking better now – good for you diamond handed hodlers in here!

I would say I'm just glad to be out and not have to think about it, but for some reason I'm still checking the price every now and then :slol:.

Did you hold your Cardano?

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Oblomov Boblomov
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PostRe: Bitcoins and Other Crypto-currencies
by Oblomov Boblomov » Mon May 24, 2021 11:26 am

Drumstick wrote:
Oblomov Boblomov wrote:It's looking better now – good for you diamond handed hodlers in here!

I would say I'm just glad to be out and not have to think about it, but for some reason I'm still checking the price every now and then :slol:.

Did you hold your Cardano?

Nope, dumped it all.

I was thinking perhaps I would dive back in if it all dropped to a certain level, but to be honest I think I'd rather just stay out from now on. If there is a mega crash back down to 2020 levels then I will definitely reconsider.

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Dual
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PostRe: Bitcoins and Other Crypto-currencies
by Dual » Mon May 24, 2021 12:17 pm

Ob Lovs not coming to the Moon with us damn :(

ETH started the day at £1400 by lunch time it's at £1600 by tea time it's at £2000!?

Tomorrow the Moon?

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Drumstick
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PostRe: Bitcoins and Other Crypto-currencies
by Drumstick » Mon May 24, 2021 9:04 pm

ETH is closing in on £1900 which is assuring, seems like the market has turned the corner for now.

One man should not have this much power in this game. Luckily I'm not an ordinary man.
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No:1 Final Fantasy Fan
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PostRe: Bitcoins and Other Crypto-currencies
by No:1 Final Fantasy Fan » Mon May 24, 2021 9:44 pm

Polygon coin is doing well! Was 52p on the weekend and now its over £1.

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Curls
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PostRe: Bitcoins and Other Crypto-currencies
by Curls » Tue May 25, 2021 7:17 am

Yes I’m recovering. I didn’t dare buy anymore at the low.

My figures. Stellar. 459. I paid 500
Ether 950. I paid 1300.
Cro. 4.5k. I paid 6k.

It’s still not great. Half of my cro I bought at 10p a unit. The rest at 14p a unit (the stuff I locked away). If it hits 12p a unit I may sell the half I bought at 10p I didn’t lock away to make the other half a little higher. Been a sticky few weeks financially.

Other option is to just leave it all there and see what it does and start investing elsewhere. The interest rates are very good, just watching your cash halve in 5 days is a bit awful.

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PostRe: Bitcoins and Other Crypto-currencies
by No:1 Final Fantasy Fan » Tue May 25, 2021 8:47 am

It's a shame to hear people have dumped their coins but hopefully not at a loss. Just gotta ride through this dip and we won't be the losers.
I bought some yesterday at the low it seems like a no brainer to me :lol:

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Prototype
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PostRe: Bitcoins and Other Crypto-currencies
by Prototype » Tue May 25, 2021 10:16 am

Another good video on the crash from TechLead.


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Albear
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PostRe: Bitcoins and Other Crypto-currencies
by Albear » Wed May 26, 2021 9:39 am

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Skarjo
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PostRe: Bitcoins and Other Crypto-currencies
by Skarjo » Wed May 26, 2021 10:09 am

Pretty much every time I think about getting into Crypto it suffers a catastrophic crash within a week.

So tell you what lads, next time I think 'Hey, a cheeky couple of hundred quid can't hurt' I'll let you know and you can all SELL.

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Dual
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PostRe: Bitcoins and Other Crypto-currencies
by Dual » Wed May 26, 2021 1:16 pm

Albear wrote:Image


:nod:

Is anyone left on Moon Shuttle Grcade?

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Peter Crisp
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PostRe: Bitcoins and Other Crypto-currencies
by Peter Crisp » Wed May 26, 2021 1:19 pm

The Moon is for poor people.
I'm getting myself a house on Pluto.

I have an ISA with 0.25% interest :toot: .

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poshrule_uk
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PostRe: Bitcoins and Other Crypto-currencies
by poshrule_uk » Wed May 26, 2021 1:25 pm

I still have my Cardano investment, let's get on that space ship

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That's not a growth
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PostRe: Bitcoins and Other Crypto-currencies
by That's not a growth » Wed May 26, 2021 1:43 pm

I've not touched my cardano, and it finally broken even again today. A little gutted I wasn't prepared to sell / buy at the right times over this last week but I know if I try to start timing the market like that I'm going to fail miserably so just going with my initial strategy of just leaving it alone for a while.

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PostRe: Bitcoins and Other Crypto-currencies
by pjbetman » Wed May 26, 2021 10:41 pm

Knoyleo wrote:
pjbetman wrote:
Rocsteady wrote:
pjbetman wrote:
Samuel_1 wrote:
pjbetman wrote:
Fuzzy Dunlop wrote:It's just a correction, it's normal.

I wasn't in the last bull run but they had several pullbacks like this, I'm pretty sure this is the first of this bull run, maybe the second.

Technically unless your selling you haven't lost any money so keep calm and hodl.



Exactly right.

I'm 'down' 10k this week, but im pretty confident itll recover. This is normal in crypto. We're still in a very good bull run, and it's normal for people to take profits now....but the big guys will be buying the dips.

Not sure why you're confident it will recover, especially when it had seen around 1000% growth in a year or so. Such gains are utterly ridiculous, the entire market is due a considerable correction and I don't thimk these losses are anywhere near sufficient. But hey, its crypto, could be worth much more in a couple of months.


Bitcoin is a proof of work asset, the same as gold. But uses only 1% of the energy that mining gold does. That's why bitcoin will continue to dominate - it's killer app is it's efficiency over the reserve currency. Couple this with some technical improvements to the program and it'll be inevitable it'll take over from FIAT. It's already happening in some countries. We're in the middle of a financial revolution.

The fundamentals havnt changed, despite what the price is doing. Since its inception, BTC has risen from $1 to $50,000 in just over ten years. Makes 1000% seem like strawberry float all.

There is absolutely no way Bitcoin will take over fiat. How and why would it do so? I think even most of it's greatest proponents don't expect BTC to replace USD - it's insanely volatile, with no central government backing if it starts to crash. And very little real life purchasing power. This will clearly never happen.


Gold is extremely volatile....doubled and halved over the past 5 years. That's that argument out the window.

When people start getting onto the DeFi interest rates (4-12%pa) for crypto (and stable coins such USDt/g/c etc), then it will spark mass withdrawal from banks. Might not be as far away or improbable as you think. I mean it'd be idiotic to keep your money in your bank earning nothing, wouldn't it?

Why are you always going on about gold? It hasn't backed USD or GBP for ages, so when people are talking about crypto compared to fiat, it's not even relevant to the comparison.

Also, gold is energy intensive to mine because it's a finite mineral, that's been mined for thousands of years, exhausting any easily accessible deposits. Proof of work crypto, and to an extent proof of space, is energy intensive to mine purely because someone set up the system that way.


Gold is the hedge against the dollar and other currencies....that's why i go on about it (apparently *shrugs*). But it's as volatile as pretty much any asset, or rather, it's no safe haven exactly. My point is that volatility isnt restricted to crypto - major asset classes are prone to it too, without the major upside that crypto often displays. (When i say 'crypto', I mean the major ones..BTC, ETH, XRP, LTC, etc).

I'd argue that gold was never 'easy' to mine and has always been exhaustive and inaccessible.

Anyway, it's an interesting subject, and it's good to,listen to other opinions on it. I just think we're heading towards a financial revolution of some sorts, and it'd be silly to not get involved in that or you get left behind.

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Jenuall
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PostRe: Bitcoins and Other Crypto-currencies
by Jenuall » Wed May 26, 2021 11:07 pm

Gold has fluctuated by a maximum of about a factor of 2 in the last 5 years, so the best/worst case scenario is your investment doubling/halving.

BTC has fluctuated by a factor of up to 100 in that time!

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Rocsteady
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PostRe: Bitcoins and Other Crypto-currencies
by Rocsteady » Wed May 26, 2021 11:09 pm

Also nobody talks about gold replacing fiat.

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Samuel_1
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PostRe: Bitcoins and Other Crypto-currencies
by Samuel_1 » Thu May 27, 2021 8:04 am

This is one of the many problems with Crypto, "experts" predict 6 figure bitcoin price. I wonder why someone heavily invested in the market would do that? Typical ponzi tactics if you ask me.

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Drumstick
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PostRe: Bitcoins and Other Crypto-currencies
by Drumstick » Thu May 27, 2021 8:29 am

Picked up some free MATIC from Coinbase.

One man should not have this much power in this game. Luckily I'm not an ordinary man.
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