BITCOIN

Onestepcloser

HansOndabush said:

Onestepcloser said:

I personally don't own bitcoin but have invested about 4.5k in alt coins since December and as of today I'm up 500% probably more if I was to calculate the interest from staking.  Crypto for the most part is definitely not a scam , although volatile if you choose projects with solid technology  gains should continue just the same way it would with the stock market.

That is so completely not true. You don't seem to realise that stock markets go up due to the work done by companies to produce goods and services which increases the value of the companies such that they can pay larger dividends and investors are therefore willing to pay more for the shares. That is completely different to crypto currencies that produce nothing and have limited use and which cannot increase value on their own. Crypto price might be increasing for now but that is only due to other punters betting a higher stake on it. If you are making 500% then someone else is or will be losing it as Malthusian has tried to explain and which you clearly fail to grasp.

Are you for real! Go and look up Theta and the companies invested in it such as Sony, Samsung and Google. Then read up on the deal that Cardano has just finalized with the Ethiopian government to give every student a verifiable identification not mention another deal with world mobile that is changing lives daily for many people.  May I also point out I'm earning a a minimum of 5% - 15% interest on some projects I'm invested in.  So for you to say they don't provide a service it's you that can't grasp what crypto is about.

Onestepcloser

Solenoid's said:

HansOndabush said:

Scottex99 said:

deejaybee said:

I'm thinking more long term,  but if i was to take any profit, would stick it on a different flavour(s)

BTC/ETH always a good place to start. Then you can have a look at some of the larger cap altcoins, then into the more degen stuff, then into the highly risky sh1tcoins, if you want. That's how I'd play it.
Years of research and learning out there if you have the inclination, or you can just buy a few coins and leave them in a wallet for half a decade

Or you can just flush some cash down the toilet for real fun.

Lol thats an idea. I put £900 yesterday even though I was against it myself. I gained last night £50 and this morning woke up with £70 loss. Its risky but do your research. Bitcoin is too risky in my opinion. And dont invest in money that you can't afford to lose.

Can I ask you why bitcoin is too risky? As according to coin market cap and coin gecko bitcoin is up over 400% in the last year, seems a good investment to me. People need to treat crypto like any other investment and DCA into it and hold for the long term cause if you think your going to get rich in a few weeks or months your going lose unless very lucky just the same as any other investments.

Scottex99

HansOndabush said:

Onestepcloser said:

I personally don't own bitcoin but have invested about 4.5k in alt coins since December and as of today I'm up 500% probably more if I was to calculate the interest from staking.  Crypto for the most part is definitely not a scam , although volatile if you choose projects with solid technology  gains should continue just the same way it would with the stock market.

That is so completely not true. You don't seem to realise that stock markets go up due to the work done by companies to produce goods and services which increases the value of the companies such that they can pay larger dividends and investors are therefore willing to pay more for the shares. That is completely different to crypto currencies that produce nothing and have limited use and which cannot increase value on their own. Crypto price might be increasing for now but that is only due to other punters betting a higher stake on it. If you are making 500% then someone else is or will be losing it as Malthusian has tried to explain and which you clearly fail to grasp.

Crypto is like the stock market on steroids, fine.
But does it really make sense that Tesla is worth more than all the other US car companies combined? How many cars do they sell? Or that Apple is worth more than some countries? How good are their products really?

Trying to claim that the share price is exactly correlated to the profits and output of certain companies, and then use that as a reason why crypto somehow produces nothing in comparison, is just incredibly short-sighted. 

Malthusian's point also doesn't do it for me. How is it any different to the stock market? The market(s) determine the price for everything. Are we crying about how much the other people are losing when we sell stocks at a 5x profit too? I don't see how it's relevant at all.

Onestepcloser

[Deleted User] said:

Onestepcloser said:

HansOndabush said:

Onestepcloser said:

I personally don't own bitcoin but have invested about 4.5k in alt coins since December and as of today I'm up 500% probably more if I was to calculate the interest from staking.  Crypto for the most part is definitely not a scam , although volatile if you choose projects with solid technology  gains should continue just the same way it would with the stock market.

That is so completely not true. You don't seem to realise that stock markets go up due to the work done by companies to produce goods and services which increases the value of the companies such that they can pay larger dividends and investors are therefore willing to pay more for the shares. That is completely different to crypto currencies that produce nothing and have limited use and which cannot increase value on their own. Crypto price might be increasing for now but that is only due to other punters betting a higher stake on it. If you are making 500% then someone else is or will be losing it as Malthusian has tried to explain and which you clearly fail to grasp.

Are you for real! Go and look up Theta and the companies invested in it such as Sony, Samsung and Google. Then read up on the deal that Cardano has just finalized with the Ethiopian government to give every student a verifiable identification not mention another deal with world mobile that is changing lives daily for many people.  May I also point out I'm earning a a minimum of 5% - 15% interest on some projects I'm invested in.  So for you to say they don't provide a service it's you that can't grasp what crypto is about.

How is Theta providing billions in value to people? In reality aren't just a few streaming sites that barely anyone uses running on it? And by "invest", don't you just mean that someone at some big firms run nodes with some tokens staked on it? Not really an investment in the technology imo.

These examples are sideshows anyway. The vast majority of money poured into crypto isn't being put to work in any productive way, nor used for their stated purposes e.g. currency, store of value, identification or whatever. They are vehicles for speculation.

You are so far out if you think theta is about just a few streaming services running on it and in regards to those companies investing, to run a validator node they must own 10million theta, granted not a lot of money with those companies finances but to ordinary people it's more than " someone at some big firms run nodes with some tokens staked on it".  There is No point in arguing anymore if you're not interested in crypto that's fine but to assume there aren't proper companies behind the majority of crpypo projects that provide a valuable service is naive at best.

TimSynths

I owe £45k on my mortgage with 7 years left to go. This year I decided to start overpaying but rather than pay the money direct to the bank I thought I'd give Crypto a go as a way to offset. Started with £80 on New Years day in Bitcoin, today I've got £10,260 in the pot (paid in £6600 in total, £3k of it just two weeks ago). I am happy with the risks and the rewards. Most is on ETH, Bake and BTC. Bake has been the best so far, invested £1k on March 7th so far its +343%, worse has been OMI which I have an on paper loss currently of £1529 (-53%) but does have huge potential so although not nice to see i'm not losing any sleep (yet....). Overall it has been great fun and I'm not a gambler (as in bookies and Lotto)  but I imagine i've experienced a similar rush to gambler when buying on exchanges and transferring assets to different wallets or exchanges to trade. Looking forward to seeing what will happen over the summer.

BearWhite

There are plenty of crypto currencies that are definitely a scam so people do need to be careful. Some/most of the coins are not for long term investment. However, I do wonder why people are so against something like Bitcoin. It's the quickest asset/stock ever to a market cap of a trillion dollars and has been around for over 10 years now. Clearly it's feasible it could be worthless in the future (as could Amazon, Google, etc) but it does seem pretty unlikely to me. Obviously it's each to their own but there are plenty of smart people working and investing in Crypto now so why wouldn't you want at least some exposure to it as a long term investment? I'm in for about 5% of my net wealth which works for me.

Onestepcloser

BearWhite said:

There are plenty of crypto currencies that are definitely a scam so people do need to be careful. Some/most of the coins are not for long term investment. However, I do wonder why people are so against something like Bitcoin. It's the quickest asset/stock ever to a market cap of a trillion dollars and has been around for over 10 years now. Clearly it's feasible it could be worthless in the future (as could Amazon, Google, etc) but it does seem pretty unlikely to me. Obviously it's each to their own but there are plenty of smart people working and investing in Crypto now so why wouldn't you want at least some exposure to it as a long term investment? I'm in for about 5% of my net wealth which works for me.

Agreed, there are scams in every walk of life, crypto is no different. 

Scottex99

TimSynths said:

I owe £45k on my mortgage with 7 years left to go. This year I decided to start overpaying but rather than pay the money direct to the bank I thought I'd give Crypto a go as a way to offset. Started with £80 on New Years day in Bitcoin, today I've got £10,260 in the pot (paid in £6600 in total, £3k of it just two weeks ago). I am happy with the risks and the rewards. Most is on ETH, Bake and BTC. Bake has been the best so far, invested £1k on March 7th so far its +343%, worse has been OMI which I have an on paper loss currently of £1529 (-53%) but does have huge potential so although not nice to see i'm not losing any sleep (yet....). Overall it has been great fun and I'm not a gambler (as in bookies and Lotto)  but I imagine i've experienced a similar rush to gambler when buying on exchanges and transferring assets to different wallets or exchanges to trade. Looking forward to seeing what will happen over the summer.

I was gonna pay my mortgage off with crypto gains last year. Couldn't be bothered to suss out how my bank would take the chunky amounts of GBP coming in from a crypto source so just left it and set up a normal overpayment instead. Portfolio has done a 5x from there so I suppose I'll have to find some other tangible stuff to spend it on now.
#LamboIsland

[Deleted User]

https://btcpeers.com/sec-chair-finally-admits-that-bitcoin-is-a-store-of-value-classifies-most-crypto-tokens-as-securities/

Gary Gensler, the chairman of the U.S. Securities and Exchange Commission (SEC) admitted that Bitcoin was a “store of value”.

What now? 🧐 World renowned experts on MSE forums said, that it has no intrinsic value and it's not good store of value. We should reach SEC chairman as soon as possible, he can't possibly be right about this. It's been fact checked by forum experts. 🤨

P1

TimSynths said:

I owe £45k on my mortgage with 7 years left to go. This year I decided to start overpaying but rather than pay the money direct to the bank I thought I'd give Crypto a go as a way to offset. Started with £80 on New Years day in Bitcoin, today I've got £10,260 in the pot (paid in £6600 in total, £3k of it just two weeks ago). I am happy with the risks and the rewards. Most is on ETH, Bake and BTC. Bake has been the best so far, invested £1k on March 7th so far its +343%, worse has been OMI which I have an on paper loss currently of £1529 (-53%) but does have huge potential so although not nice to see i'm not losing any sleep (yet....). Overall it has been great fun and I'm not a gambler (as in bookies and Lotto)  but I imagine i've experienced a similar rush to gambler when buying on exchanges and transferring assets to different wallets or exchanges to trade. Looking forward to seeing what will happen over the summer.

Remember Capital Gains Tax!  Its going to suck this year.  And the student loans