[Finance] The cryptocurrency (Bitcoin etc) thread

[SK1NT]

I tried to remind people on here a couple of weeks ago - I have about 8 NSCers on my mining team but they've all disappeared. Lots of lost Pi!

Shame… KYC ends in a few days…

Surprise… I have everyone mining all of a sudden for the first time in about 4 years. Well except someone who joined from here…

 

[Seagull58]

@MODS can you please change the title to "RIP cryptocurrency (Bitcoin etc.)"?

 

[chickens]

Now the orange one has turned out not to ride to the rescue of cryptocurrency prices (he’ll hold what gets confiscated as proceeds of crime, but won’t spend taxpayer money on any) and has launched his own coin, rather than dealing in others, is this a slow death?
Or are there upcoming events to spark a revival?

It all feels a bit final to me. In the ISA vs Crypto battle, my ISA has slipped from 11.4 to 10.6% gain due to the Orange peril. Crypto is negative at -2.18%

I don’t personally see Ripple replacing SWIFT, given that SWIFT is already user-owned, I’m not convinced that SOL being the underlying tech for meme coins is a particularly bright future either.

So, are any of the true believers still optimistic? And if so, why?

 

[GrizzlingGammon]

So after 6 Years... nearly 5 years of my own mining... the Pi Coin has been launched and launched at $2... way better than i expected. Hearing that Binance are likely to add pi coin could really launch this coin further.

Pi Coin’s next move: Can it hit $100 and beyond?

Pi Network launched its Open Mainnet on February 20, 2025, marking its shift to full decentralization. Pi Coin saw significant price fluctuations, reaching $1.97 before dropping and rebounding. As of February 24, 2025, it trades at $1.55. Analysts are divided on whether Pi Coin can reach $100 or...

economictimes.indiatimes.com

Did anyone continue to mine this? or has anyone even forgotten they had these coins?

When I had to request password reset, my phone number was instantly added, and then deleted, to a group text scam.

There's no way I'm going to do KYC with Pi.

 

[RandyWanger]

So, are any of the true believers still optimistic? And if so, why?

Ignoring the currency side and concentrating on the crypto....

ICP for web3 technology. An internet thats fully on chain and distributed sounds like a very good idea to me, especially with AI going the way it it.

Hedera Hashgraph for an alternative blockchain. Virtual voting algorithm to achieve consensus quickly, fairly, efficiently and securely.

XRP isn't dead. Price wise I think most 'experts' are bots pushing for the moon. You can follow all the transactions flowing over the protocol and see how heavily it's used.

 

[giveusfalmerplease]

With all the narratives being talked about just 3 months ago, I'm gobsmacked my portfolio is down 60%. Depin, RWA, AI agents coins all currently fckrd.

 

[beorhthelm]

Now the orange one has turned out not to ride to the rescue of cryptocurrency prices (he’ll hold what gets confiscated as proceeds of crime, but won’t spend taxpayer money on any) and has launched his own coin, rather than dealing in others, is this a slow death?
Or are there upcoming events to spark a revival?

It all feels a bit final to me. In the ISA vs Crypto battle, my ISA has slipped from 11.4 to 10.6% gain due to the Orange peril. Crypto is negative at -2.18%

I don’t personally see Ripple replacing SWIFT, given that SWIFT is already user-owned, I’m not convinced that SOL being the underlying tech for meme coins is a particularly bright future either.

So, are any of the true believers still optimistic? And if so, why?

BTC isnt so bleak if compared to the 2021 run, then we went down ~50% from peak in April, then ran it back to new high in Nov. the Trump rally went to far, too high too soon and of course was mis-read as "we're going sooo much higher this time". right now the tariff confusion is causing speculators to go risk off, fearing inflation leading to higher interest rates.

the optimistic case is that blows over soon for a late year rally - which was expected to be cycle peak anyway. some big brains suggest US heading to recession leading to sudden cut in rates late summer. eitherway, i dont think the outlook for alts is as positive as it was, make back past month or so but not sure there is much appetite for broad shitcoin market. it's going to be more individual risers, particularly in RWA and maybe gaming if some product launch and they're good.

 

[Professor Plum]

Should I be hanging on to my XRP? I’m still well up, and have already cashed in my initial investment so I’m just sitting on profit at the moment, currently about $8K. I’m in no hurry. Any pointers from the more knowledgeable here?

 

[Tom Hark Preston Park]

How's that Trump Pump working out for all you crypto cultists? Asking for a friend

 

[pb21]

How's that Trump Pump working out for all you crypto cultists? Asking for a friend

Probably regret saying this but BTC is up 14%+ since the orange goon got elected, so OK at the moment...

 

[RandyWanger]

How's that Trump Pump working out for all you crypto cultists? Asking for a friend

Your first post on this thread was May 5th, 2017, and on that date the average Bitcoin price was around $1,579.47. Today it is $79,706.

I can see why you're bitter, but if it's this much of a trigger for you why not put the thread on ignore? There are many people who weren't bullish enough or missed the train, it's not just you x

 

[Tom Hark Preston Park]

Your first post on this thread was May 5th, 2017, and on that date the average Bitcoin price was around $1,579.47. Today it is $79,706.

I can see why you're bitter, but if it's this much of a trigger for you why not put the thread on ignore? There are many people who weren't bullish enough or missed the train, it's not just you x

You must have missed my posts on the beanie babies thread

 

[Weststander]

Stock markets have been falling like a stone for 3 weeks, way beyond the 'Magnificent 7' tech giants. Reality has hit home that Trump's tariffs and trade wars will hurt most businesses and people.

The lucky would've sold higher risk equities and all crypto just before then. If not, the age old dilemma is to sit out, or sell, wait for markets to fall by circa double this and then buy in again.

This a lesson that crypto is not the safe haven in an equities bull market or global troubles that some portrayed it as a month ago. It is not the new gold (dream).

 

[Tom Hark Preston Park]

Stock markets have been falling like a stone for 3 weeks, way beyond the 'Magnificent 7' tech giants. Reality has hit home that Trump's tariffs and trade wars will hurt most businesses and people.

The lucky would've sold higher risk equities and all crypto just before then. If not, the age old dilemma is to sit out, or sell, wait for markets to fall by circa double this and then buy in again.

This a lesson that crypto is not the safe haven in an equities bull market or global troubles that some portrayed it as a month ago. It is not the new gold (dream).

It's just herd-driven gambling and lives or dies on Emperor Trump giving the thumbs-up or the thumbs-down. It's all a POS that has no value, intrinsic or otherwise. Sooner it goes to zero, the sooner the shoeshine boy gets to retain at least some of his savings

 

[Weststander]

It's just herd-driven gambling and lives or dies on Emperor Trump giving the thumbs-up or the thumbs-down. It's all a POS that has no value, intrinsic or otherwise. Sooner it goes to zero, the sooner the shoeshine boy gets to retain at least some of his savings

For me the jury is very much out. One or two intelligent pro-crypto punters in this thread candidly or intimate that they're just in it for the life changing killing, they acknowledge it will be a rollercoaster, they piling in at the lows and selling at the highs. Others mention incredibly 'intelligent' gurus who've written books or teach on youtube on why it is the future. I wouldn't risk money I'd hate to lose on it. At best, I think it's worth a punt for a quick buck if you can time a low.

 

[Professor Plum]

I’m a bit puzzled by these sporadic anti-crypto posts. If you’ve no interest in them, just stay clear of them. Ain’t hard. I’ve personally made about £62K from crypto, mostly back in 2017 or so with Bitcoin and then just recently, about October, I dipped my toe in again with XRP based on some posts on here. I’ve profited by over £10K since then. I don’t really care about the underlying technology or fiscal philosophy. It just seems like a way to make some cash. Most of my investments are more conventional so to some degree I understand the disdain and suspicion. I certainly wouldn’t recommend crypto as a main investment but as a bit of fun on the side with a small chunk of your funds, why not? Some people to do this with gold or Premium Bonds or whatever. Why not just do what you want relative to your risk appetite, your personality and your funds? I’ve honestly no idea why some people get so worked up by other people’s preferences.

 

[Weststander]

I’m a bit puzzled by these sporadic anti-crypto posts. If you’ve no interest in them, just stay clear of them. Ain’t hard. I’ve personally made about £62K from crypto, mostly back in 2017 or so with Bitcoin and then just recently, about October, I dipped my toe in again with XRP based on some posts on here. I’ve profited by over £10K since then. I don’t really care about the underlying technology or fiscal philosophy. It just seems like a way to make some cash. Most of my investments are more conventional so to some degree I understand the disdain and suspicion. I certainly wouldn’t recommend crypto as a main investment but as a bit of fun on the side with a small chunk of your funds, why not? Some people to do this with gold or Premium Bonds or whatever. Why not just do what you want relative to your risk appetite, your personality and your funds? I’ve honestly no idea why some people get so worked up by other people’s preferences.

My post wasn't anti. It effectively said the same, it's a get rich fairly quick punt. Others aren't fortunate to have your adult lifetime of conventional investing, this was usually through employers investing for us. It's well documented that many students and young adults, with the bleak prospect of not being able to see a financial future otherwise, have gone all in on crypto. Some middle aged people have done this too.

It's a fair discussion to mention the risks and the lows. There will be people today who bought in January and February who are seeing significant losses.

 

[Tom Hark Preston Park]

For me the jury is very much out. One or two intelligent pro-crypto punters in this thread candidly or intimate that they're just in it for the life changing killing, they acknowledge it will be a rollercoaster, they piling in at the lows and selling at the highs. Others mention incredibly 'intelligent' gurus who've written books or teach on youtube on why it is the future. I wouldn't risk money I'd hate to lose on it. At best, I think it's worth a punt for a quick buck if you can time a low.

For sure a couple of self-declared big brains in this thread will claim they Did Their Own Research and called it right. Just like equal numbers of self-declared big brains in this thread Did Their Own Research and called it wrong. Tho you won't hear a peep out of them. Basically it's like doing the Albion Score Predictor thread. If you call it right you get bragging rights. If you call it wrong you STFU.

I'm with Warren Buffett on this one. He knows a thing or two about investing. He calls bitcoin "rat poison squared"

 

[Weststander]

For sure a couple of self-declared big brains in this thread will claim they Did Their Own Research and called it right. Just like equal numbers of self-declared big brains in this thread Did Their Own Research and called it wrong. Tho you won't hear a peep out of them. Basically it's like doing the Albion Score Predictor thread. If you call it right you get bragging rights. If you call it wrong you STFU.

I'm with Warren Buffett on this one. He knows a thing or two about investing. He calls bitcoin "rat poison squared"

Not a crypto comment.

Buffett just got another thing correct. In December Berkshire Hathaway had cash reserves of 30%, a 34 year high. It's felt in readiness for a huge plunge in stocks especially stock techs. Which is here!

 

[Professor Plum]

My post wasn't anti. It effectively said the same, it's a get rich fairly quick punt. Others aren't fortunate to have your adult lifetime of conventional investing, this was usually through employers investing for us. It's well documented that many students and young adults, with the bleak prospect of not being able to see a financial future otherwise, have gone all in on crypto. Some middle aged people have done this too.

It's a fair discussion to mention the risks and the lows. There will be people today who bought in January and February who are seeing significant losses.

Indeed, I think it a very unwise strategy to 'go all in on crypto'. The old maxim about not investing what you can’t afford to lose holds good here for me. I readily admit to knowing next to nothing about it but if you want a punt and have no pressing time horizons then the usual 'buy low' advice seems to work.