BITCOIN

terratus

tranquility1 said:

BREAKING:  CRYPTO WHALE MAKING MOVES LAST NIGHT!

I almost doubled my stake in crypto last night.  I have also taken some new positions thusly:

~ £1200 in BTC
~ £1100 in XRP
~ £1100 in XLM
~ £1100 in ETH


XRP and XLM will be the adopted coins for the new financial system, and they will make me a very rich man.

I rememeber seeing a document online relating to the Digital Pound Foundation that was comprised of memebers from Ripple, Electrnum & Quant (personal favourite). I've just gone and bought a small stack of Cirus (building a new type of wifi router that allows end users to profit off their own data when browing the internet). There's talk they could be annoucing a partnership with a large ISP company next week  The company have been in operation for a few years but the token was only released last week so one for the coming years.

If you're into companies that could help build the new financial system them you may like AllianceBlock (ALBT) as they are aiming to combine the best parts of defi and tradfi.

bugbyte_2

terratus said:

Exactly! I'm not invested in ADA myself but I don't understand how some people can so blindsided to not realise there is much more to crypto than it being a store of value like Bitcoin. There is SO much happening in this space, the tech is changing the world.

I can see the value of the technology and investing in the actual companies that develop the tech because their ip might get adopted by world governments or other use and therefore be worth something, but there is a world of difference between investing in this way and holding coins. I would imagine crypto companies have the same kind of profile as micro bio tech - lots of small companies - few of which may just be on to something. Its interesting that some posters give the impression holding coins on a particular technology is the same as owning a slice of the company that owns the ip. Itds not. The tech may be worth something but the coins value may not follow. 

If I were to hazard a guess, the tech will be developed, then adopted by governments, etc. then governments will issue their own digital currency and existing coins will fade to niche - or they may hold value if enough people are still interested. Meanwhile, the selected companies that own the ip will sour in value.

Buying a grey NFT rock for 1mill is however stupid, and relies on someone else coveting your grey rock enough to pay you more than 1mill in the future. The tech behind it may however have value.

On another point, if you hold £1000 of BTC on a portfolio of £100,000 and it doubles in value, you still have only made 1%. 

Scottex99

On another point, if you hold £1000 of BTC on a portfolio of £100,000 and it doubles in value, you still have only made 1%. 

Weird way to measure your portfolio?

You still have only made a 1% gain assuming the portfolio (of different assets?) is now also at exactly 200k, which it wont be.

grumiofoundation

Scottex99 said:

On another point, if you hold £1000 of BTC on a portfolio of £100,000 and it doubles in value, you still have only made 1%. 

Weird way to measure your portfolio?

You still have only made a 1% gain assuming the portfolio (of different assets?) is now also at exactly 200k, which it wont be.

Presuming they meant if the Bitcoin doubles in value, not the whole portfolio. 

You would go from 100k to 101k (1% gain on whole portfolio). 

terratus

It's only a 1% increase in your entire portfolio because you decided to allocate only 1% of your portfolio to it. It's still doubled. If I believed an asset was going to double in price then I'd allocate far more than 1%. Not meaning to direct that AT you, just speaking hypothetically.

I believe at this stage for the average person, alt coins are there to make money and BTC is there to keep it. Having said that, BTC has increased 5x this year.

Scottex99

grumiofoundation said:

Scottex99 said:

On another point, if you hold £1000 of BTC on a portfolio of £100,000 and it doubles in value, you still have only made 1%. 

Weird way to measure your portfolio?

You still have only made a 1% gain assuming the portfolio (of different assets?) is now also at exactly 200k, which it wont be.

Presuming they meant if the Bitcoin doubles in value, not the whole portfolio. 

You would go from 100k to 101k (1% gain on whole portfolio). 

Yeah I get that but that's the same for any small % of your portfolio regardless? 

If you buy £1k of BTC or Tea Leaves and they are now worth £2k, then you doubled your money. Yes it's still a small % if you have 100k in stocks regardless. I don't get the point other than some people are more risk averse than others.

I have a large amount of my net worth in crypto because 1. I got in fairly early and 2. I dont care about risk too much as I have a good monthly income anyway. Not for everyone but works for me. Even if I factor in the whole crypto market plummeting in value tomorrow

Ibrahim5

I have never bought any crypto but there are now over 6000 currencies and the number is increasing exponentially. There must be more to be made by buying new currencies rather than well established ones. If I pick the right one I could be a billionaire. What when there are more currencies than people? Can we all have our own currency?

terratus

Ibrahim5 said:

I have never bought any crypto but there are now over 6000 currencies and the number is increasing exponentially. There must be more to be made by buying new currencies rather than well established ones. If I pick the right one I could be a billionaire. What when there are more currencies than people? Can we all have our own currency?

Smaller coins/tokens provide more upside but only if they actually achieve what they set out to do. The majorty of people allocate part of their portfolio between large/mid/small cap projects, could be 50/30/20 for example.

When regulations come in I believe a lot of coins will cease to exist overtime (for starters the thousands of completely useless meme/joke tokens). Knowing the 'right' coins to invest in is obviously key, as with investing in non-crypto companies.

Scottex99

Ibrahim5 said:

I have never bought any crypto but there are now over 6000 currencies and the number is increasing exponentially. There must be more to be made by buying new currencies rather than well established ones. If I pick the right one I could be a billionaire. What when there are more currencies than people? Can we all have our own currency?

Over 10,000 at last count, 90% will never do anything and will be worth 0.

The good ones have already done well and will continue to do so, in theory

Malthusian

Ibrahim5 said:

I have never bought any crypto but there are now over 6000 currencies and the number is increasing exponentially. There must be more to be made by buying new currencies rather than well established ones.

That is the penny share scammer's fallacy. A 1p share is no more likely to go to £1 than a £1 share is to go to £100. The same applies to crypto tokens.

The vast majority of new tokens will dump to zero, just as most penny shares go nowhere or bust. I don't think it will ever happen to Bitcoin or the other cryptos with a critical mass, any more than gold will ever dump to its pure industrial value. As a counterexample, AAPL was a well established company that had mooched around for decades before it went to the moon.

The potential upside of any crypto is the same, infinity. The chance of any crypto going up by any given amount is essentially random.

If I pick the right one I could be a billionaire.

If you can find people willing to lose a billion quid in your new crypto, then sure, no reason why not. Punters' money in == punters' money out.

What when there are more currencies than people? Can we all have our own currency?

Of course you can. Takes fifteen minutes to set up your own ERC-20 scatcoin or on any other blockchain of your choosing.

The number of limited companies in the UK is growing at a significantly faster rate (8%) than the population (0.5%). It is therefore inevitable that some day there will be more limited companies in the UK than people. (Statistically speaking at least, let's leave logic out of this.) There is no reason the same can't be true of cryptos.