Crypto Dabble. 13 September 2021 at 7:10PM edited 13 September 2021 at 7:14PM in Savings & Investments 257 replies 11.7K views

DireEmblem

Good luck on your venture.  Started something similar as a project earlier this year, but only with £100 in bitcoin.  I now collect all the free coins on Coinbase, and am up about 70% this year last time I checked.  If I get to 100%, might take out my initial deposit and let the rest ride for a few years.

Dandytf

DireEmblem said:

Good luck on your venture.  Started something similar as a project earlier this year, but only with £100 in bitcoin.  I now collect all the free coins on Coinbase, and am up about 70% this year last time I checked.  If I get to 100%, might take out my initial deposit and let the rest ride for a few years.

I wonder if my 250 pounds initial deposit is really worth my time.
Only on the basis of unknown Crypto value trends.
What  i do know is I purchased 1 LTC and a ridiculous small 0.0149% approx. ETH  

Is there ever going to be profit or loss from such minute holdings.

thanks

originator

I got to just over 100% a while  back and took my initial deposit out, left the profit in to go where it wants.It's a bit of fun and i like it....

Scottex99

Dandytf said:

DireEmblem said:

Good luck on your venture.  Started something similar as a project earlier this year, but only with £100 in bitcoin.  I now collect all the free coins on Coinbase, and am up about 70% this year last time I checked.  If I get to 100%, might take out my initial deposit and let the rest ride for a few years.

I wonder if my 250 pounds initial deposit is really worth my time.
Only on the basis of unknown Crypto value trends.
What  i do know is I purchased 1 LTC and a ridiculous small 0.0149% approx. ETH  

Is there ever going to be profit or loss from such minute holdings.

thanks

There is going to be either a profit or a loss, that is guaranteed. The size of either could be minor or extreme. When Covid crashed the traditional markets, ETH slid to $100, it's now $3400 and was $4300 at peak.

I personally chucked $400 at AAVE in 2019 and it did 100x in a year, of course finding these "gems" is no easy feat. If I ever catch a mega pump of some random altcoin, I'm generally selling the profits back into BTC or ETH anyway, to hold long term

grumiofoundation

Dandytf said:

DireEmblem said:

Good luck on your venture.  Started something similar as a project earlier this year, but only with £100 in bitcoin.  I now collect all the free coins on Coinbase, and am up about 70% this year last time I checked.  If I get to 100%, might take out my initial deposit and let the rest ride for a few years.

I wonder if my 250 pounds initial deposit is really worth my time.
Only on the basis of unknown Crypto value trends.
What  i do know is I purchased 1 LTC and a ridiculous small 0.0149% approx. ETH  

Is there ever going to be profit or loss from such minute holdings.

thanks

As above you are going to make a profit/loss. Whether it is worth on it is not really for someone else to say (both in terms of amount investment and particular investment(s) chosen). 

The % profit/loss will be the same for a £250 investment as for a £250k investment.

I think a more important question would be why are you investing in risky investments when you have, according to your posting history, multiple credit cards, finance deals at nearly 10% interest. 

From your posting history I would say your time could certainly be better spent elsewhere rather than watching your investments drop in front of your eyes' or opening multiple credit cards seemingly because you can. For example do you properly understand how interest (percentage) works? Apologies if that sounds a patronising question but your posting history does indicate a potential lack of understanding (a lot of your posts are quite unclear).

jimjames

Dandytf said:

DireEmblem said:

Good luck on your venture.  Started something similar as a project earlier this year, but only with £100 in bitcoin.  I now collect all the free coins on Coinbase, and am up about 70% this year last time I checked.  If I get to 100%, might take out my initial deposit and let the rest ride for a few years.

I wonder if my 250 pounds initial deposit is really worth my time.
Only on the basis of unknown Crypto value trends.
What  i do know is I purchased 1 LTC and a ridiculous small 0.0149% approx. ETH  

Is there ever going to be profit or loss from such minute holdings.

thanks

Yes, you will have one or the other. Or possibly stay the same which seems unlikely.

But if you have only £125 in savings as per your sig, it doesn't seem the most sensible idea to be gambling double that on something that could drop in value. On the other hand it's not a massive amount but is in the context of your sig.

Dandytf

Is it time to take almost 50 pounds loss and run with 200 pounds.
Does the recent Chinese crackdown mean current crypto is heading to being worthless.

Lots of nose about official Digi Currency from ECB surfacing.

thanks

Scottex99

Probably if you don’t know what you’re doing, or 200 quid has value to you.

That’s about the 20th ban/restriction to come out of China in the last 4 years, won’t hurt the market long term imo

Dandytf

Scottex99 said:

Probably if you don’t know what you’re doing, or 200 quid has value to you.

That’s about the 20th ban/restriction to come out of China in the last 4 years, won’t hurt the market long term imo

that ban info is what I didn't know off
Though will official regulated Digi Currency De-Value current range.

thanks

Aminatidi

Anyone using PayPal crypto?

Looks like a very simple way to dabble if you already have a PayPal account without some of the concerns over verifying ID with companies who seem to have dubious governance to say the least.