BITCOIN

tranquility1

tebbins said:

tranquility1 said:

I've got £1k of BTC.  £1K of DOGE.  And £100 of XLM.

I will be putting a grand or two more into crypto this week.  Which coins do people recommend?


I am interested in XLM and XRP because some say they could be used heavily in the economy in future.  But XRP isn't on Coinbase, and I can't be bothered with other exchanges...

This is the standard of investing these days. "I'm going to ask strangers on the internet to *recommend* specific financial products that have no intrinsic value, security, guarantee by anyone, economic utility or cashflow, in an industry that abounds with so much fraud even Jordan Belfort would say 'damn that's a lot of fraud', for me to throw my money away".

I'm not completely new to crypto.  And this a small percentage of my portfolio.

Scottex99

tranquility1 said:

I've got £1k of BTC.  £1K of DOGE.  And £100 of XLM.

I will be putting a grand or two more into crypto this week.  Which coins do people recommend?


I am interested in XLM and XRP because some say they could be used heavily in the economy in future.  But XRP isn't on Coinbase, and I can't be bothered with other exchanges...

Gotta have some ETH long term. LUNA should do big things in theory but that won’t be on CB either 

Blue_Sky

Scottex99 said:

Been waiting for this since it happened:

https://www.rekt.news/polynetwork-rekt/

Looks like almost all the money has now been returned.
‘White hat’ hacker behind $610m crypto heist returns most of money | Cryptocurrencies | The Guardian

Adyinvestment

A little fun

The Run of the Golden Bull - YouTube

User232002

tranquility1 said:

I've got £1k of BTC.  £1K of DOGE.  And £100 of XLM.

I will be putting a grand or two more into crypto this week.  Which coins do people recommend?


I am interested in XLM and XRP because some say they could be used heavily in the economy in future.  But XRP isn't on Coinbase, and I can't be bothered with other exchanges...

On what basis do you believe that they could be used heavily in the future? What qualifications do the people that say this have? Do these people have a fiduciary duty towards you? Might they perhaps have alternative motivations?

Ripple Labs (creator of XRP) have a colossal amount of XRP in their possession (because they created it obviously). Its been a long time since I looked at the actual numbers, so these might be a little off but they will illustrate the general idea... The XRP on their balance sheet is valued (at market rate) at ~$30B, their company is valued (by shares) at ~$5B. One of those prices must be incorrect.

Honestly, if you believe in using metcalfes law to value crypto networks then DOGE has won half the battle - it has a loyal community of people willing to engage with it. However, it has no development team, doesn't even secure its own blockchain, has hugely problematic wallet structures and has little in the way of actual adoption. These issues can be overcome (but not by posting jpegs on twitter) and I genuinely think a 100% DOGE portfolio may outperform me over the next 12 months - but its a little precarious to say the least.

Just DCA in to BTC and ETH and sleep soundly at night.

tranquility1

darren232002 said:

tranquility1 said:

I've got £1k of BTC.  £1K of DOGE.  And £100 of XLM.

I will be putting a grand or two more into crypto this week.  Which coins do people recommend?


I am interested in XLM and XRP because some say they could be used heavily in the economy in future.  But XRP isn't on Coinbase, and I can't be bothered with other exchanges...

On what basis do you believe that they could be used heavily in the future? What qualifications do the people that say this have? Do these people have a fiduciary duty towards you? Might they perhaps have alternative motivations?

Ripple Labs (creator of XRP) have a colossal amount of XRP in their possession (because they created it obviously). Its been a long time since I looked at the actual numbers, so these might be a little off but they will illustrate the general idea... The XRP on their balance sheet is valued (at market rate) at ~$30B, their company is valued (by shares) at ~$5B. One of those prices must be incorrect.

Honestly, if you believe in using metcalfes law to value crypto networks then DOGE has won half the battle - it has a loyal community of people willing to engage with it. However, it has no development team, doesn't even secure its own blockchain, has hugely problematic wallet structures and has little in the way of actual adoption. These issues can be overcome (but not by posting jpegs on twitter) and I genuinely think a 100% DOGE portfolio may outperform me over the next 12 months - but its a little precarious to say the least.

Just DCA in to BTC and ETH and sleep soundly at night.

Regarding XRP:

Jennifer Arcuri (Boris' old sqeeze) is one of the people who has shown some evidence that she thinks XRP will be used as the IMF's currency.  If you want more info you're best off finding her account on Telegram, were she has written a thread about it.

Regarding XLM:

See above.  XLM is, according to her, going to be used for transactions.

thompson_2009

Hi have been looking into btc and it looks very dodgy, even those sites that say they are genuine have multiple websites. And scammers are always putting scam adverts on Facebook. Nothing about it is trustworthy. 

eskbanker

thompson_2009 said:

Hi have been looking into btc and it looks very dodgy, even those sites that say they are genuine have multiple websites. And scammers are always putting scam adverts on Facebook. Nothing about it is trustworthy. 

If that's the extent and rigour of your due diligence and analytical capabilities then it would certainly appear that crypto isn't for you!

tebbins

eskbanker said:

thompson_2009 said:

Hi have been looking into btc and it looks very dodgy, even those sites that say they are genuine have multiple websites. And scammers are always putting scam adverts on Facebook. Nothing about it is trustworthy. 

If that's the extent and rigour of your due diligence and analytical capabilities then it would certainly appear that crypto isn't for you!

We all start somewhere, it's comforting to see someone (apologies if I assume wrong) newish to the investing game be able to work out Bitcoin isn't for them on their own initiative.

eskbanker

tebbins said:

eskbanker said:

thompson_2009 said:

Hi have been looking into btc and it looks very dodgy, even those sites that say they are genuine have multiple websites. And scammers are always putting scam adverts on Facebook. Nothing about it is trustworthy. 

If that's the extent and rigour of your due diligence and analytical capabilities then it would certainly appear that crypto isn't for you!

We all start somewhere, it's comforting to see someone (apologies if I assume wrong) newish to the investing game be able to work out Bitcoin isn't for them on their own initiative.

I'm sure it's the right decision, but my point was that it's for the wrong reasons - it's one thing to choose not to buy into it on an informed basis but foolish to dismiss it out of hand because of misconceptions and misunderstandings....