BITCOIN

Retireby40

RoisinDove said:

I bought one litecoin several years ago for abut 70 euros and it's now worth nearly 270 euros. Am unsure what to do...hold it and see if it goes much higher and then sell, or trade it now for bitcoin, as a friend has advised? I'm not desperate for the money right now and am looking at a 5+ year investment. 

I assume €270 wouldn't change your life. Nor would it buy you a big enough stake in Bitcoin to make you rich. Let it ride and maybe in 5 years you will have enough for a 2 week holiday. Regardless of what you do it will have 0 impact on your finances or life.

RoisinDove

Retireby40 said:

RoisinDove said:

I bought one litecoin several years ago for abut 70 euros and it's now worth nearly 270 euros. Am unsure what to do...hold it and see if it goes much higher and then sell, or trade it now for bitcoin, as a friend has advised? I'm not desperate for the money right now and am looking at a 5+ year investment. 

I assume €270 wouldn't change your life. Nor would it buy you a big enough stake in Bitcoin to make you rich. Let it ride and maybe in 5 years you will have enough for a 2 week holiday. Regardless of what you do it will have 0 impact on your finances or life.

Thanks for that utterly pointless, condescending comment. I'm well aware it's not a huge amount of money and I'm not expecting it to change my life. A 2-week holiday in 5 years would be pretty bloody good in my eyes, from an initial tiny investment. Sorry I'm not a millionaire like you must be.

Retireby40

RoisinDove said:

Retireby40 said:

RoisinDove said:

I bought one litecoin several years ago for abut 70 euros and it's now worth nearly 270 euros. Am unsure what to do...hold it and see if it goes much higher and then sell, or trade it now for bitcoin, as a friend has advised? I'm not desperate for the money right now and am looking at a 5+ year investment. 

I assume €270 wouldn't change your life. Nor would it buy you a big enough stake in Bitcoin to make you rich. Let it ride and maybe in 5 years you will have enough for a 2 week holiday. Regardless of what you do it will have 0 impact on your finances or life.

Thanks for that utterly pointless, condescending comment. I'm well aware it's not a huge amount of money and I'm not expecting it to change my life. A 2-week holiday in 5 years would be pretty bloody good in my eyes, from an initial tiny investment. Sorry I'm not a millionaire like you must be.

I'm not a millionaire. Why did you invest in Litecoin? Why are you thinking about changing to bitcoin?

Scottex99

RoisinDove said:

Retireby40 said:

RoisinDove said:

I bought one litecoin several years ago for abut 70 euros and it's now worth nearly 270 euros. Am unsure what to do...hold it and see if it goes much higher and then sell, or trade it now for bitcoin, as a friend has advised? I'm not desperate for the money right now and am looking at a 5+ year investment. 

I assume €270 wouldn't change your life. Nor would it buy you a big enough stake in Bitcoin to make you rich. Let it ride and maybe in 5 years you will have enough for a 2 week holiday. Regardless of what you do it will have 0 impact on your finances or life.

Thanks for that utterly pointless, condescending comment. I'm well aware it's not a huge amount of money and I'm not expecting it to change my life. A 2-week holiday in 5 years would be pretty bloody good in my eyes, from an initial tiny investment. Sorry I'm not a millionaire like you must be.

Not pointless, I'd have said the same.

Long term, most good quality coins will do very well, BTC better than LTC imo. If it was me, i'd buy BTC and keep your LTC too. Price just corrected big time this weekend so definitely buy the dip if you're taking a long term view 

HansOndabush

Looks like dogecoin is current favourite, may as well buy into that.

HansOndabush

No........

Doshwaster

I bought £100 worth a few weeks ago. I don't consider it a serious investment more of a speculative gamble.  It's quite interesting to see the valuation go up and down every day for no apparent reason.  If it is worth a few thousands in the next couple of years then great but if the value crashes then no big deal.

Scottex99

Doshwaster said:

I bought £100 worth a few weeks ago. I don't consider it a serious investment more of a speculative gamble.  It's quite interesting to see the valuation go up and down every day for no apparent reason.  If it is worth a few thousands in the next couple of years then great but if the value crashes then no big deal.

You could DCA (Dollar Cost Average) and buy £100 every month or quarter or whatever, regardless of the price. Pretty standard technique for people who'd like a little bit of exposure and are happy to sit on long term.

Like you said not big deal if you lose value overall, although imo, in 2-3 years, you defo wont

[Deleted User]

Scottex99 said:

Doshwaster said:

I bought £100 worth a few weeks ago. I don't consider it a serious investment more of a speculative gamble.  It's quite interesting to see the valuation go up and down every day for no apparent reason.  If it is worth a few thousands in the next couple of years then great but if the value crashes then no big deal.

You could DCA (Dollar Cost Average) and buy £100 every month or quarter or whatever, regardless of the price. Pretty standard technique for people who'd like a little bit of exposure and are happy to sit on long term.

Like you said not big deal if you lose value overall, although imo, in 2-3 years, you defo wont

That's exactly what I recommend to all my friends who approach me regarding this. DCA is the way to average out this volatile asset.

https://dcabtc.com?sd=2016-04-22&sda=5_years&f=monthly&d=5_years&ac=10000&c=false

Last 5 years, £100 monthly = £6000 investement and £142000 return.

Scottex99

[Deleted User] said:

Scottex99 said:

Doshwaster said:

I bought £100 worth a few weeks ago. I don't consider it a serious investment more of a speculative gamble.  It's quite interesting to see the valuation go up and down every day for no apparent reason.  If it is worth a few thousands in the next couple of years then great but if the value crashes then no big deal.

You could DCA (Dollar Cost Average) and buy £100 every month or quarter or whatever, regardless of the price. Pretty standard technique for people who'd like a little bit of exposure and are happy to sit on long term.

Like you said not big deal if you lose value overall, although imo, in 2-3 years, you defo wont

That's exactly what I recommend to all my friends who approach me regarding this. DCA is the way to average out this volatile asset.

https://dcabtc.com?sd=2016-04-22&sda=5_years&f=monthly&d=5_years&ac=10000&c=false

Last 5 years, £100 monthly = £6000 investement and £142000 return.

Yep, I dont track mine properly as I have plenty of crypto already. 

But, I buy BTC and ETH with GBP on a regular basis. I bought yesterday. I bought when BTC was $4k last year. I bought when BTC was $60k last week. I'll keep buying as the fundamentals haven't changed.

DCA is solid for new players, regardless if you're investing a lot or a little (relative to your own bankroll)