coin base crypto currency

whatstheplan

pphillips said:

whatstheplan said:

pphillips said:

whatstheplan said:

I was going to buy some BTC back in 2017, now kicking myself however that's hindsight.  Rightly or wrongly I won't be buying at current prices, a £5k punt will get you 0.12 BTC.  So if your strategy is to hold, to get a reasonable return of let's say £20k inc original investment it needs to rise in value to £168k, or £336k to achieve a £40k return.  Plenty say it's going to achieve this and more, what do I know however I'm not convinced.

Having said all that I'll watch with interest.  If we see a crash to £20k I might put £5k in to get 0.25 and see where it takes me.

I do think crypto isn't going anywhere.  Yes it's early days, yes many of the coins will die, yes we'll see many changes, however the underlying premise and the technology to deliver it isn't going anywhere.  Gradually, it will be looked on as less of a punt and more of a valid investment strategy.  Presently, many people simply don't understand that much about it.  Also, I don't think it's valid for banks to stop their customers transferring money to legitimate companies such as Coinbase, after all, it's your money in the account is it not? 

I have to say that I disagree with your views about cryptocurrencies. A few years ago I thought that cryptocurrency was monopoly money, it was just fad and it would soon crash and burn, clearly I was wrong. Whether you understand crypto or not, what really matters (as we have seen regarding BTC and ETH) is starting early and being in it for the long term. Financial institutions in the UK probably won't see crypto as a legitimate investment for years to come and who knows where that market will be by them.

What part of my views do you disagree with?  For clarity I said I do think crypto isn't going anywhere so I think we're on the same page?

I personally think some of the distain around crypto is sour grapes, especially when referring to people that got in early doors and are now paper millionaires/billionaires.  And like any investment/gamble, take the worst case scenario of it crashing.  What does it matter as long as you get out in time and you're up overall?  Yes it's dangerous if you invest/gamble what you can't afford and don't understand what you're buying into, however that's down to the individual, fomo etc.

What I disagreed with was that "crypto isn’t going anywhere", which means you believe that it's going to fail but perhaps I misinterpreted what you said. If you didn't mean what I thought you did then we might be on the same page.

Of course I accept that there are risks involved and that it's possible to lose money, but ultimately I accept that crypto is here to stay and I see it overtaking traditional currencies in the future, in my opinion there is no hurry to "get out in time". 

It's my wording perhaps.  I said I think crypto isn't going anywhere, so we're on the same page

thegentleway

Scottex99 said:

Billy_B_North said:

Scottex99 said:

Billy_B_North said:

Scottex99 said:

Billy_B_North said:

Scottex99 said:

csgohan4 said:

Scottex99 said:

More of a gamble than stocks? Happy to here your reasoning why.
It's not for everyone but the fastest growing asset of all time, fundamentals are the same as when it started, although it is moving closer to a store of value like gold than a currency these days. With layer 2 solutions you can buy goods with it but many people would be unlikely to when they think it will appreciate further.

Put your money where your mouth is, haha what does it matter? $125 to $5k in 5 weeks is pretty good regardless. My fist 100x was in Feb this year too actually. $400 to $40k in about 12 months.

I work in the industry, the firm that I run trades 2-3m every day from crypto to fiat and vice versa, fully regulated. I have a decent chunk in BTC or butcoin (hilarious, did you come up with that yourself?) and probably 50-60% of my net worth in crypto overall. So yeah I'm pretty bullish to have 500k in a massive "gamble".

After you've finished stroking your ep33n, I'm going to agree to disagree on this one. My risk appetite is not high enough to include Butcoin in my assets. I would be happy with my index trackers, least I know i will not be at the mercy of the Crypto gods.

if you have invested the majority of your wealth and done well, good your gamble has taken off. I prefer less riskier ventures, and I don't even invest in Tesla for that matter. 

Like I said above, I’m not arsed whether I have 5k or 500k, if anything it’s much more fun grinding in the beginning anyway. The only reason those figures are there are in response to your comments. Money is in where the mouth is.

Good luck with your stonks

So then how much money do you have in it?
It seems that most people shouting about how clever they are to own crypto have only a few Thebes of thousands in it and are laughing at the “fools” with hundreds of thousands or millions in more traditional investments.

Tough work this. About 500k.
Scroll through the posts, you won’t see me calling myself clever other than I caught a couple of coins that mooned, maybe that was skill or luck but the gains are there.

Of course when you invest in any coin, doing 100x shouldn’t even be in your thoughts but BTC as a store of value and ETH as a utility coin are pretty solid in my book.

Nobody is forcing anyone to buy any crypto but the fastest growing asset of all time is surely worth a look 

What’s the intention? It’s worthless unless spent, so at some point will you use if for property, living expenses, or other investments?

What do you mean what's the intention? The same as every other investment, to make money. 

Oh yeah, mustn't forget buying a few lambos

I mean exit strategy. Is it a price target that’ll decide when you start selling it and buying the cars?

i'm happy with that and getting rich is a by-product.

You said the intention was to make money but now it’s a by-product?!

Scottex99

thegentleway said:

Scottex99 said:

Billy_B_North said:

Scottex99 said:

Billy_B_North said:

Scottex99 said:

Billy_B_North said:

Scottex99 said:

csgohan4 said:

Scottex99 said:

More of a gamble than stocks? Happy to here your reasoning why.
It's not for everyone but the fastest growing asset of all time, fundamentals are the same as when it started, although it is moving closer to a store of value like gold than a currency these days. With layer 2 solutions you can buy goods with it but many people would be unlikely to when they think it will appreciate further.

Put your money where your mouth is, haha what does it matter? $125 to $5k in 5 weeks is pretty good regardless. My fist 100x was in Feb this year too actually. $400 to $40k in about 12 months.

I work in the industry, the firm that I run trades 2-3m every day from crypto to fiat and vice versa, fully regulated. I have a decent chunk in BTC or butcoin (hilarious, did you come up with that yourself?) and probably 50-60% of my net worth in crypto overall. So yeah I'm pretty bullish to have 500k in a massive "gamble".

After you've finished stroking your ep33n, I'm going to agree to disagree on this one. My risk appetite is not high enough to include Butcoin in my assets. I would be happy with my index trackers, least I know i will not be at the mercy of the Crypto gods.

if you have invested the majority of your wealth and done well, good your gamble has taken off. I prefer less riskier ventures, and I don't even invest in Tesla for that matter. 

Like I said above, I’m not arsed whether I have 5k or 500k, if anything it’s much more fun grinding in the beginning anyway. The only reason those figures are there are in response to your comments. Money is in where the mouth is.

Good luck with your stonks

So then how much money do you have in it?
It seems that most people shouting about how clever they are to own crypto have only a few Thebes of thousands in it and are laughing at the “fools” with hundreds of thousands or millions in more traditional investments.

Tough work this. About 500k.
Scroll through the posts, you won’t see me calling myself clever other than I caught a couple of coins that mooned, maybe that was skill or luck but the gains are there.

Of course when you invest in any coin, doing 100x shouldn’t even be in your thoughts but BTC as a store of value and ETH as a utility coin are pretty solid in my book.

Nobody is forcing anyone to buy any crypto but the fastest growing asset of all time is surely worth a look 

What’s the intention? It’s worthless unless spent, so at some point will you use if for property, living expenses, or other investments?

What do you mean what's the intention? The same as every other investment, to make money. 

Oh yeah, mustn't forget buying a few lambos

I mean exit strategy. Is it a price target that’ll decide when you start selling it and buying the cars?

i'm happy with that and getting rich is a by-product.

You said the intention was to make money but now it’s a by-product?!

Why the fascination?

Its an incredibly volatile asset class, you can make (and lose) stupid amounts of money in very little time. So much so that once your magic internet coins become the equivalent fiat value of nice cars or houses, it gets a bit surreal.

Dont want to get accused of stroking my electronic penis again so what are you looking to hear? That i'll have a couple mill by 40 and be retired, yeah probs

Billy_B_North

Scottex99 said:

thegentleway said:

Scottex99 said:

Billy_B_North said:

Scottex99 said:

Billy_B_North said:

Scottex99 said:

Billy_B_North said:

Scottex99 said:

csgohan4 said:

Scottex99 said:

More of a gamble than stocks? Happy to here your reasoning why.
It's not for everyone but the fastest growing asset of all time, fundamentals are the same as when it started, although it is moving closer to a store of value like gold than a currency these days. With layer 2 solutions you can buy goods with it but many people would be unlikely to when they think it will appreciate further.

Put your money where your mouth is, haha what does it matter? $125 to $5k in 5 weeks is pretty good regardless. My fist 100x was in Feb this year too actually. $400 to $40k in about 12 months.

I work in the industry, the firm that I run trades 2-3m every day from crypto to fiat and vice versa, fully regulated. I have a decent chunk in BTC or butcoin (hilarious, did you come up with that yourself?) and probably 50-60% of my net worth in crypto overall. So yeah I'm pretty bullish to have 500k in a massive "gamble".

After you've finished stroking your ep33n, I'm going to agree to disagree on this one. My risk appetite is not high enough to include Butcoin in my assets. I would be happy with my index trackers, least I know i will not be at the mercy of the Crypto gods.

if you have invested the majority of your wealth and done well, good your gamble has taken off. I prefer less riskier ventures, and I don't even invest in Tesla for that matter. 

Like I said above, I’m not arsed whether I have 5k or 500k, if anything it’s much more fun grinding in the beginning anyway. The only reason those figures are there are in response to your comments. Money is in where the mouth is.

Good luck with your stonks

So then how much money do you have in it?
It seems that most people shouting about how clever they are to own crypto have only a few Thebes of thousands in it and are laughing at the “fools” with hundreds of thousands or millions in more traditional investments.

Tough work this. About 500k.
Scroll through the posts, you won’t see me calling myself clever other than I caught a couple of coins that mooned, maybe that was skill or luck but the gains are there.

Of course when you invest in any coin, doing 100x shouldn’t even be in your thoughts but BTC as a store of value and ETH as a utility coin are pretty solid in my book.

Nobody is forcing anyone to buy any crypto but the fastest growing asset of all time is surely worth a look 

What’s the intention? It’s worthless unless spent, so at some point will you use if for property, living expenses, or other investments?

What do you mean what's the intention? The same as every other investment, to make money. 

Oh yeah, mustn't forget buying a few lambos

I mean exit strategy. Is it a price target that’ll decide when you start selling it and buying the cars?

i'm happy with that and getting rich is a by-product.

You said the intention was to make money but now it’s a by-product?!

Why the fascination?

Its an incredibly volatile asset class, you can make (and lose) stupid amounts of money in very little time. So much so that once your magic internet coins become the equivalent fiat value of nice cars or houses, it gets a bit surreal.

Dont want to get accused of stroking my electronic penis again so what are you looking to hear? That i'll have a couple mill by 40 and be retired, yeah probs

I know quite a lot of people who had a couple of million pounds by the age of forty, but none retired. Most seem happy to continue doing what they are good at.

Scottex99

Billy_B_North said:

Scottex99 said:

thegentleway said:

Scottex99 said:

Billy_B_North said:

Scottex99 said:

Billy_B_North said:

Scottex99 said:

Billy_B_North said:

Scottex99 said:

csgohan4 said:

Scottex99 said:

More of a gamble than stocks? Happy to here your reasoning why.
It's not for everyone but the fastest growing asset of all time, fundamentals are the same as when it started, although it is moving closer to a store of value like gold than a currency these days. With layer 2 solutions you can buy goods with it but many people would be unlikely to when they think it will appreciate further.

Put your money where your mouth is, haha what does it matter? $125 to $5k in 5 weeks is pretty good regardless. My fist 100x was in Feb this year too actually. $400 to $40k in about 12 months.

I work in the industry, the firm that I run trades 2-3m every day from crypto to fiat and vice versa, fully regulated. I have a decent chunk in BTC or butcoin (hilarious, did you come up with that yourself?) and probably 50-60% of my net worth in crypto overall. So yeah I'm pretty bullish to have 500k in a massive "gamble".

After you've finished stroking your ep33n, I'm going to agree to disagree on this one. My risk appetite is not high enough to include Butcoin in my assets. I would be happy with my index trackers, least I know i will not be at the mercy of the Crypto gods.

if you have invested the majority of your wealth and done well, good your gamble has taken off. I prefer less riskier ventures, and I don't even invest in Tesla for that matter. 

Like I said above, I’m not arsed whether I have 5k or 500k, if anything it’s much more fun grinding in the beginning anyway. The only reason those figures are there are in response to your comments. Money is in where the mouth is.

Good luck with your stonks

So then how much money do you have in it?
It seems that most people shouting about how clever they are to own crypto have only a few Thebes of thousands in it and are laughing at the “fools” with hundreds of thousands or millions in more traditional investments.

Tough work this. About 500k.
Scroll through the posts, you won’t see me calling myself clever other than I caught a couple of coins that mooned, maybe that was skill or luck but the gains are there.

Of course when you invest in any coin, doing 100x shouldn’t even be in your thoughts but BTC as a store of value and ETH as a utility coin are pretty solid in my book.

Nobody is forcing anyone to buy any crypto but the fastest growing asset of all time is surely worth a look 

What’s the intention? It’s worthless unless spent, so at some point will you use if for property, living expenses, or other investments?

What do you mean what's the intention? The same as every other investment, to make money. 

Oh yeah, mustn't forget buying a few lambos

I mean exit strategy. Is it a price target that’ll decide when you start selling it and buying the cars?

i'm happy with that and getting rich is a by-product.

You said the intention was to make money but now it’s a by-product?!

Why the fascination?

Its an incredibly volatile asset class, you can make (and lose) stupid amounts of money in very little time. So much so that once your magic internet coins become the equivalent fiat value of nice cars or houses, it gets a bit surreal.

Dont want to get accused of stroking my electronic penis again so what are you looking to hear? That i'll have a couple mill by 40 and be retired, yeah probs

I know quite a lot of people who had a couple of million pounds by the age of forty, but none retired. Most seem happy to continue doing what they are good at.

Yep, money not the point here really.

Crypto is coming. If it's not digital gold, it's DeFi or going bankless or NFTs. 

Each to their own but I reckon it's a bit silly to write off a nascent asset class that has had extreme growth and is sucking in so much talent.

Not to mention you can park up your BTC, ETH and Stables right now and get a 5-10% APY return (with risk). What's the point in off ramping £50k for it to sit in my Super Squirrel Savings Account and get 0.01% on it? Ok traditional assets/vehicles could be a shout I suppose

underground99

Scottex99 said:

Not to mention you can park up your BTC, ETH and Stables right now and get a 5-10% APY return (with risk). What's the point in off ramping £50k for it to sit in my Super Squirrel Savings Account and get 0.01% on it? Ok traditional assets/vehicles could be a shout I suppose

Well, I suppose traditional assets / vehicles could quite easily be in with a shout given they give a 5-10% annualised return (with risk) - there is no real advantage to lending out your BTC and ETH to get the same return unless the risk is going to somehow be lower for the same return because the borrowers are more creditworthy and the counterparties more established and solvent.

Scottex99

underground99 said:

Scottex99 said:

Not to mention you can park up your BTC, ETH and Stables right now and get a 5-10% APY return (with risk). What's the point in off ramping £50k for it to sit in my Super Squirrel Savings Account and get 0.01% on it? Ok traditional assets/vehicles could be a shout I suppose

Well, I suppose traditional assets / vehicles could quite easily be in with a shout given they give a 5-10% annualised return (with risk) - there is no real advantage to lending out your BTC and ETH to get the same return unless the risk is going to somehow be lower for the same return because the borrowers are more creditworthy and the counterparties more established and solvent.

In theory yep but someone like me also wants to stay long BTC and ETH at the same time. So cashing out a chunk of ETH to put into a traditional fund (for 10-12%) doesn't make sense when ETH has done 20x in a year (and I would be very bullish on it continuing to do well).

But its all part of the bankroll, your risk tolerance etc. I'd tell no-coiners the same thing whether they were investing £100 or £1m. Get BTC and ETH first, maybe some of the larger cap alts, then do a load of reading and research and see what you think. If you want to speculate on some mega shitcoins then go ahead, just understand the risk first.

kinger101

If it looks like a tulip and smells like a tulip......
There's a finite supply of greater fools.

whatstheplan

kinger101 said:

JohnRo said:

The supply of fools that think crypto is somehow equivalent to tulip mania appears to be far greater.

As you seem such a fan of WB....

"It's not a currency. It does not meet the test of a currency. I wouldn't be surprised if it's not around in 10 or 20 years. It is not a durable means of exchange, it's not a store of value. It's been a very speculative kind of Buck Rogers-type thing and people buy and sell them because they hope they go up or down just like they did with tulip bulbs a long time ago." 

"Cryptocurrencies basically have no value and they don't produce anything. They don't reproduce, they can't mail you a check, they can't do anything, and what you hope is that somebody else comes along and pays you more money for them later on, but then that person's got the problem. In terms of value: zero."

I'm not sure I completely agree with the bit in bold.  It can be asserted many none currency things (tangible / not tangible) have no intrinsic value.  They only have value because we apportion value to these things through buying, selling, trading.  Is it theoretically possible the entire crypto thing will pretty much cease to be in x years time?  I think highly unlikely however not impossible.  However, if you've played the crypto game in the interim period and come out on top, then surely crypto has had value, both to you and the people buying it from you.  I know we can't frame everything with the same timescales, however I think tulip mania lasted 3ish years?  Things started taking off with Bitcoin around 2017 so we're around the point when the tulip thing went pop.  The next couple of years will be interesting.

Scottex99

RatPoisonSquared is expensive now.

In theory it could go to zero, it wont though. I doubt you'll see BTC below $10k ever again. Institutional players now parking it on their balance sheet. 21m BTC only ever to exist with 18m already having been mined. It's scarce, it has value (a lot of it speculative, sure). It's a trillion dollars in market cap already.

Tulip thing took only about 3 months to pop, assisted by the bubonic plague, BTC has done about a 15x, during COVID