Bitcoins and Other Crypto-currencies

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Dual
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PostRe: Bitcoins and Other Crypto-currencies
by Dual » Wed Jan 27, 2021 9:53 am

Tomous wrote:Is it too late to get in on this Gamespot stuff?


We're building a Gamespot on the moon baby! Buy now!

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Cuttooth
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PostRe: Bitcoins and Other Crypto-currencies
by Cuttooth » Wed Jan 27, 2021 9:56 am

Brb putting my life savings into the website Gamespot instead of the shop Gamestop and only realising my mistake later.

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Kezzer
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PostRe: Bitcoins and Other Crypto-currencies
by Kezzer » Wed Jan 27, 2021 10:09 am

I wouldn't even know where to start with investing - it always seems to be these hair brained schemes but realistically I just want to put my lowly savings into something that gives me better returns than the bank.

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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 Jan 27, 2021 11:00 am

Kezzer wrote:I wouldn't even know where to start with investing - it always seems to be these hair brained schemes but realistically I just want to put my lowly savings into something that gives me better returns than the bank.


If you want something passive then vanguard trackers are a good shout, with their low fees.

If you want crazy returns then you need to really do your research - and even then it's still a gamble, so most of your stuff should be in passive with only a small % of your total investments in 'gambles'.

Keep in mind the whole reason this Gamestop situation is making so much news is how unusual it is, chasing 'easy money' is at best a gamble.

Never gamble more than you can afford to lose, and consider an investment a long term situation that will not be linear growth and could even go down in value. Hope for the best, prepare for the worst.

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Kezzer
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PostRe: Bitcoins and Other Crypto-currencies
by Kezzer » Wed Jan 27, 2021 11:19 am

I have a few funds that I put money into, but I do have a small lump of cash in a bank account that I just have no idea what to do with - I always seem to be in the wrong place at the wrong time in regards to being able to drop some of it. Maybe that is the research part, but even then where do you start the research??

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Grumpy David
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PostRe: Bitcoins and Other Crypto-currencies
by Grumpy David » Wed Jan 27, 2021 11:25 am

Kezzer wrote:I have a few funds that I put money into, but I do have a small lump of cash in a bank account that I just have no idea what to do with - I always seem to be in the wrong place at the wrong time in regards to being able to drop some of it. Maybe that is the research part, but even then where do you start the research??


The money thread is probably better for advice on this rather than the meme based portfolios consisting of Bitcoin, Tesla, Palantir, Gamestop etc being discussed in Bitcoin thread.

Day trading is a good way to lose a lot of money.

What's your goal of the money?

Why did you choose the current funds you invested in?

What timeline do you envisage needing to take the money out?

I don't have time to find the needle in the haystack so I just buy the haystack i.e. Index trackers.

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PostRe: Bitcoins and Other Crypto-currencies
by Jenuall » Wed Jan 27, 2021 11:33 am

I probably should get more savvy about what I do with my short-mid term savings. I pay quite a bit of attention to my pension and try to make sure that is showing decent growth but anything more short term I either just stick in an ISA or buy shares in the company that I work for which has done okay for me so far.

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PostRe: Bitcoins and Other Crypto-currencies
by Igor » Wed Jan 27, 2021 12:23 pm

Rocsteady wrote:
Igor wrote:strawberry float me, it's $214 in post-market.. Not that I can sell right now, but that's $18.5k unrealised, in four days. I've had a good 12 months in crypto but nothing like this.

I wondered about putting a little money in at 70 but didn't, the regret.

When are you planning to cash out?


The squeeze isn't over but I'll probably sell today if it's over 400 by market open. News is out that Melvin have closed their short positions but I'm not sure how that's possible.

To echo TNAG, this isn't investing, at least from my perspective. I didn't put up $6k because I believe in the future of a brick and mortar videogame retailer. This was more like betting on the over/under market on a football match where one team is legally obligated to let the other score. So long as the attack keeps up, the score keeps going up.

Long term, I still think crypto is the best play. Firmly believe ethereum will have a $1tril market cap within the next 3-5 years. I'm also heavily in Vechain - again, hoping for/expecting a price of $.75-1.0 within 3-5 years. Neither of these should be viewed as 'currencies' with the speculative increase in their price being their only value. They are technology platforms that solve real-world problems. I'm by no means an expert and could be completely wrong though.

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PostRe: Bitcoins and Other Crypto-currencies
by Grumpy David » Wed Jan 27, 2021 8:23 pm

Looks Blockbusters (RIP) remnant is a going wild. :slol: BB Liquidating shares. :slol: https://www.bloomberg.com/news/articles/2021-01-27/bankrupt-blockbuster-remnant-joins-reddit-inspired-retail-rally

Bed, Bath & Beyond is shooting up too.

Igor wrote:
Rocsteady wrote:
Igor wrote:strawberry float me, it's $214 in post-market.. Not that I can sell right now, but that's $18.5k unrealised, in four days. I've had a good 12 months in crypto but nothing like this.

I wondered about putting a little money in at 70 but didn't, the regret.

When are you planning to cash out?


The squeeze isn't over but I'll probably sell today if it's over 400 by market open. News is out that Melvin have closed their short positions but I'm not sure how that's possible.

To echo TNAG, this isn't investing, at least from my perspective. I didn't put up $6k because I believe in the future of a brick and mortar videogame retailer. This was more like betting on the over/under market on a football match where one team is legally obligated to let the other score. So long as the attack keeps up, the score keeps going up.

Long term, I still think crypto is the best play. Firmly believe ethereum will have a $1tril market cap within the next 3-5 years. I'm also heavily in Vechain - again, hoping for/expecting a price of $.75-1.0 within 3-5 years. Neither of these should be viewed as 'currencies' with the speculative increase in their price being their only value. They are technology platforms that solve real-world problems. I'm by no means an expert and could be completely wrong though.


Did you decide to sell? Must have made a small fortune for a few minutes worth of "work".

I think of crypto currencies as hopeless for use as a currency due to wild fluctuations but a better comparison is to think of it as a commodity like Digital Gold.

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SMPL
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PostRe: Bitcoins and Other Crypto-currencies
by SMPL » Wed Jan 27, 2021 11:17 pm

Kezzer wrote:I have a few funds that I put money into, but I do have a small lump of cash in a bank account that I just have no idea what to do with - I always seem to be in the wrong place at the wrong time in regards to being able to drop some of it. Maybe that is the research part, but even then where do you start the research??

You might want to look into defi. Lending USD on something like AAVE will get you around 20% APR.

Obviously do your own research but there are plenty of relatively safe options out there and it is good to at least be aware of what's happening.

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PostRe: Bitcoins and Other Crypto-currencies
by pjbetman » Wed Jan 27, 2021 11:36 pm

Kezzer wrote:I wouldn't even know where to start with investing - it always seems to be these hair brained schemes but realistically I just want to put my lowly savings into something that gives me better returns than the bank.


8.6% on blockfi

Use this link and we'll both get $10:-

https://blockfi.com/?ref=958e20e9

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Skarjo
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PostRe: Bitcoins and Other Crypto-currencies
by Skarjo » Thu Jan 28, 2021 1:47 am

Tomous wrote:Is it too late to get in on this Gamespot stuff?


It's almost certainly too late - 99% of the time by the time you hear about the potential it's already too late.

I love the fact that Hedge Fund managers are getting such a black eye on this, but make no mistake almost everyone who has invested in this scheme is going to lose big by the time it all plays out.

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PostRe: Bitcoins and Other Crypto-currencies
by Trelliz » Thu Jan 28, 2021 7:28 am

Kezzer wrote:I wouldn't even know where to start with investing - it always seems to be these hair brained schemes but realistically I just want to put my lowly savings into something that gives me better returns than the bank.


I feel like I would definitely be one of the "aaaand it's gone" shmucks who get it wrong.

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Dual
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PostRe: Bitcoins and Other Crypto-currencies
by Dual » Thu Jan 28, 2021 8:59 am

You can use play money on Trading212 if you just want to see how it works.

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Dual
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PostRe: Bitcoins and Other Crypto-currencies
by Dual » Thu Jan 28, 2021 9:10 am

The Reddit Gamestop story is on the front page of the FT today :lol:

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PostRe: Bitcoins and Other Crypto-currencies
by Mafro » Thu Jan 28, 2021 10:07 am

Dual wrote:The Reddit Gamestop story is on the front page of the FT today :lol:

The image they use :lol: :lol: :lol:

twitter.com/jintor_au/status/1354713269357797376


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Tafdolphin
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PostRe: Bitcoins and Other Crypto-currencies
by Tafdolphin » Thu Jan 28, 2021 2:42 pm

Apparently Robinhood have now limited GME stocks to release only. Which is strawberry floating insane.

These strawberry floaters really did the "mum a big boy stole my toy!" routine

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Grumpy David
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PostRe: Bitcoins and Other Crypto-currencies
by Grumpy David » Thu Jan 28, 2021 2:57 pm

Tafdolphin wrote:Apparently Robinhood have now limited GME stocks to release only. Which is strawberry floating insane.

These strawberry floaters really did the "mum a big boy stole my toy!" routine


Seems like a world-wide issue as Trading212 is showing this:

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PostRe: Bitcoins and Other Crypto-currencies
by Tafdolphin » Thu Jan 28, 2021 3:15 pm

Pathetic

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PostRe: Bitcoins and Other Crypto-currencies
by Igor » Thu Jan 28, 2021 3:26 pm

Grumpy David wrote:Did you decide to sell? Must have made a small fortune for a few minutes worth of "work".

I think of crypto currencies as hopeless for use as a currency due to wild fluctuations but a better comparison is to think of it as a commodity like Digital Gold.


I did, £28k profit from last Friday to yesterday. Kept a small handful in case it seriously rockets but I don't trust there won't be further fuckery if Wall Street closes ranks; the 'outages' suffered by 5 major brokers yesterday wasn't a coincidence, and closing the buy market on select tickers - BB, AMC, GME - should be strawberry floating criminal. Wouldn't be surprised to see trading halted for at least a week at some point and I'd rather get out with £28k profit than have £80k stuck in a closed market.

Brokers have also stopped buying on BB; hedge funds and MMs sold to each other at progressively lower prices to drive down the price during pre-market, triggering stop-losses for retail investors on market open, driving the price down further. They then cover their shorts, all while retail investors are locked out of buying. This'll be a major catalyst for DeFi. Buy ethereum. Take control of the markets out of the hands of a select few.

Silver is also another big play, the price of silver/oz has been artificially suppressed for decades. Most shorted asset on the market, majority short positions held by JPM. Fair market value, taking inflation into account, would put silver at around $1000/oz, rather than $25/oz. If silver does the way of GME, it'll completely destroy JP Morgan. My silver position is up 4.5% in the last few hours.


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