Bitcoin - where to buy?

planteria

Retireby40 said: It may not drop 95% but there's no way it can continue rising like this. If you've bought at £3000 or even £10000 with the unpredictably of crypto and the cycles it goes on surely you would take the 24k and watch it crash and do the process over again. 

to put a figure on that for you i bought most of my bitcoin at c£7k, and no, i'm not taking the £24k. maybe i'm not smart/rich enough.
i do have some more cash going into GUSD which will be sat waiting to see if Bitcoin drops back below £20k though.
none of us need Bitcoin to "continue rising like this". 100%yr would be enough for me .

Retireby40

planteria said:

Retireby40 said: It may not drop 95% but there's no way it can continue rising like this. If you've bought at £3000 or even £10000 with the unpredictably of crypto and the cycles it goes on surely you would take the 24k and watch it crash and do the process over again. 

to put a figure on that for you i bought most of my bitcoin at c£7k, and no, i'm not taking the £24k. maybe i'm not smart/rich enough.
i do have some more cash going into GUSD which will be sat waiting to see if Bitcoin drops back below £20k though.
none of us need Bitcoin to "continue rising like this". 100%yr would be enough for me .

I guess it depends on how much you've put in.

Someone putting 200 quid in at 7k may not take their 650ish quid but someone who put 14k in may well take 48k. 

It all depends on the levels your playing at.

masonic

Retireby40 said:

planteria said:

Retireby40 said: It may not drop 95% but there's no way it can continue rising like this. If you've bought at £3000 or even £10000 with the unpredictably of crypto and the cycles it goes on surely you would take the 24k and watch it crash and do the process over again. 

to put a figure on that for you i bought most of my bitcoin at c£7k, and no, i'm not taking the £24k. maybe i'm not smart/rich enough.
i do have some more cash going into GUSD which will be sat waiting to see if Bitcoin drops back below £20k though.
none of us need Bitcoin to "continue rising like this". 100%yr would be enough for me .

I guess it depends on how much you've put in.

It also depends on your outlook for the future. Some think there are still orders of magnitude of rises to come, others take a much more modest view. Ultimately what's being traded is a technology that will sooner or later be superseded.

Retireby40

Ethereum 31% up today. Looks like no stopping this. This time next week will be 1000 and some people will be very rich while the masses will have lost.

webjaved

Retireby40 said:

Ethereum 31% up today. Looks like no stopping this. This time next week will be 1000 and some people will be very rich while the masses will have lost.

I saw this on my Twitter timeline yesterday, this has rocketed out of nowhere. Still, I'm sticking to my Stocks and Shares.

Malthusian

Retireby40 said:

It may not drop 95% but there's no way it can continue rising like this. If you've bought at £3000 or even £10000 with the unpredictably of crypto and the cycles it goes on surely you would take the 24k and watch it crash and do the process over again. 

Who sells an investment that has returned 8x or 2.5x in next to no time? Why have one gold 40-foot catamaran when you can have a whole fleet?

Some people do cash in but they're in an extreme minority - which is why the price is still that high in the first place. If the masses try to cash out at 24k the laws of the mathematics of zero sum games take over. (In the absence of an even bigger group of new punters willing to pump in more money and send the price to 50k.)

Even for crypto investors lucky enough to have bought tokens at £3,000 and still be hoddling them when they've gone up to £24,000, an 8x return doesn't actually do them much good. Maybe they invested £10,000 and it's now £80,000 - great, now they can buy a fancier car, but £80,000 isn't going to give them financial security. So the likelihood is that they will carry on holding in the hope that this is the start of the process that saw Bitcoin go from £10 or even £1 to £22,000.

Retireby40

Malthusian said:

Retireby40 said:

It may not drop 95% but there's no way it can continue rising like this. If you've bought at £3000 or even £10000 with the unpredictably of crypto and the cycles it goes on surely you would take the 24k and watch it crash and do the process over again. 

Who sells an investment that has returned 8x or 2.5x in next to no time? Why have one gold 40-foot catamaran when you can have a whole fleet?

Some people do cash in but they're in an extreme minority - which is why the price is still that high in the first place. If the masses try to cash out at 24k the laws of the mathematics of zero sum games take over. (In the absence of an even bigger group of new punters willing to pump in more money and send the price to 50k.)

Even for crypto investors lucky enough to have bought tokens at £3,000 and still be hoddling them when they've gone up to £24,000, an 8x return doesn't actually do them much good. Maybe they invested £10,000 and it's now £80,000 - great, now they can buy a fancier car, but £80,000 isn't going to give them financial security. So the likelihood is that they will carry on holding in the hope that this is the start of the process that saw Bitcoin go from £10 or even £1 to £22,000.

If it was so clear cut why would anybody ever sell bitcoin. If something bounces from £1 to 7k to 12k to 3k to 24k someone must be selling. 

I agree if you invested 200 quid it wouldn't be worth taking out but anyone who say stuck 10k in when shares were 3/4k who now is sitting on 75-80k. Depending on where you live that could be an upgrade from a 3 bed semi to a 4 bed detached. Could be the money needed to start up a new business. Especially with something so volatile as crypo. 

We all have seen it crash as quickly as it has risen in the past. Who's to say that 24k isn't 10k again in a month or two? 

planteria

masonic said:

planteria said: GUSD which will be sat waiting to see if Bitcoin drops back below £20k though.

It also depends on your outlook for the future...

i'll let you guess re my own "levels" Rb40
& it does masonic. i'm not selling.. as above, i'm just looking at if/when to buy more.

bowlhead99

Retireby40 said:

Malthusian said:

Retireby40 said:

It may not drop 95% but there's no way it can continue rising like this. If you've bought at £3000 or even £10000 with the unpredictably of crypto and the cycles it goes on surely you would take the 24k and watch it crash and do the process over again. 

Who sells an investment that has returned 8x or 2.5x in next to no time? Why have one gold 40-foot catamaran when you can have a whole fleet?

Some people do cash in but they're in an extreme minority - which is why the price is still that high in the first place. If the masses try to cash out at 24k the laws of the mathematics of zero sum games take over. (In the absence of an even bigger group of new punters willing to pump in more money and send the price to 50k.)

Even for crypto investors lucky enough to have bought tokens at £3,000 and still be hoddling them when they've gone up to £24,000, an 8x return doesn't actually do them much good. Maybe they invested £10,000 and it's now £80,000 - great, now they can buy a fancier car, but £80,000 isn't going to give them financial security. So the likelihood is that they will carry on holding in the hope that this is the start of the process that saw Bitcoin go from £10 or even £1 to £22,000.

If it was so clear cut why would anybody ever sell bitcoin. If something bounces from £1 to 7k to 12k to 3k to 24k someone must be selling. 

I agree if you invested 200 quid it wouldn't be worth taking out but anyone who say stuck 10k in when shares were 3/4k who now is sitting on 75-80k. Depending on where you live that could be an upgrade from a 3 bed semi to a 4 bed detached. Could be the money needed to start up a new business. Especially with something so volatile as crypo. 

We all have seen it crash as quickly as it has risen in the past. Who's to say that 24k isn't 10k again in a month or two? 

$34k over the weekend (which was still $33.5k at 5am this morning UK time) had dropped to $29k by 10.30am. The Lord giveth and he taketh away. Presumably some people wanted to sell when they got back to their desks after the new year break - institutional funds and ETCs won't be traded as much outside conventional market hours.  Though it's since rebounded up to $30k again in the last hour.  I've sold a bit. 
* edit - and now back up to $32k again, four hours after my post.

theforest

HarryGray said:

Does anyone have any other recommendations on a better platform?

I made my initial purchase on Cryptomate using Faster Payments from my bank account and used that BTC to fund subsequent larger purchases on the Bisq decentralised exchange network, also using Faster Payments.

Another possibility I discovered recently similar to Cryptomate is Coingate, though I have no experience of using that one.
As regards wallets Exodus (.io) is one of my favoured wallets (it looks nice too) though there are plenty of others.

I hope that information is of some help to you, but whatever it is important do your own research for your own needs.
(As I am new to the forum I cannot post any URLs yet, but I am sure if you search the internet for the highlighted words you will find the links).