beorhthelm
A. Virgo, Football Genius
- Jul 21, 2003
- 36,013
memecoins are doing very well.
[Finance] The cryptocurrency (Bitcoin etc) thread
- Thread starter Sirius76
- Start date
Got something to say or just want fewer pesky ads? Join us... 😊
Marshy
Well-known member
lol your hatred of this technology is clouding judgement of some very important use cases.
99% of them are junk. But 30 or 40 will be institutionally adopted.
I wont bother explaining as you simply dont want to know or be persuaded.
You are missing out on the opportunity of a life time, with some time and research you would understand it.
Everything of value will be tokenised and moved on a blockchain and with a token/crytpo of some sorts.
My strategy is to take out original investment when I reach 100% profit, then leave a bag for long term consisting of profit only.XRP seems to have increased by over 100% in the past week or two. I bought £1000 a couple of months ago when I saw it mentioned on here. Sitting on a small potential profit of about £1200 but I’m going to just let it ride and see what happens. If it drops again, as likely, I’m not too bothered. But I'd kick myself if it became another Bitcoin. I remember reading about Bitcoin when it was 27p and wondered about having a punt. What’s it now? £70,000?
My attitude is that it comes down to the golden rule of having a diversified portfolio. I've got about 2.5% of net worth in BTC because I think the value long term is either close to zero or massive. You wouldn't want to not have any if fiat currency became obsolete!
Marshy
Well-known member
100% agree. A diversified portfolio of assets is always best if you can.
Bitcoin as a note although being 60% of the current market is actually the least useful crypto. Its slow to use and expensive.
levs
Active member
- Jul 10, 2017
- 192
I'm considering investing in Crypto but I have no idea where to start in terms of informing myself about the potential risks etc. Would you recommend anything to read/watch to get a better understanding of it all?
RandyWanger
Je suis rôti de boeuf
Previous job was at a Web3 consultance firm, when I left I kept in contact with the friends I made. One of them being the firms analist who looked after the balance sheet. So far he has served me very well, his previous predictions have been very accurate and I am happy with my returns.
Marshy
Well-known member
you really need to make your move very quickly. The Bull run for Crypto which normally happens every 4 or 5 years like the stock market is underway and will be over in the next 4 or months months at most, after that you will see huge draw backs in prices.
I would say work your way down the top 20 crypto list and do some research googling them.
Buying Bitcoin itself now imo is not a great idea, that if you are lucky will double in the next few months and i doubt that.
There are plenty of 10x 20x your money to be had that are good projects with serious backing.
Good luck
If you dont have the stomach to see you crypto rise and fall very quickly then its not the space for you.
RandyWanger
Je suis rôti de boeuf
An easy to understand doc on fiat currency and inflation and how bitcoin can fix fiat currency.
Cathie Woods is a good watch, Michael Saylor too (both appear on the above)
Read Satoshi's bitcoin white paper if youre technical.
And The Bitcoin Standard: The Decentralized Alternative to Central Banking.
Avoid 'Crypto Influencers' on youtube, they're mostly paid by the crypto mafia to promite shitcoins and influence pump and dumps.
If you're on X or Reddit, do not read your DMs if people offer to help.
Avoid shitcoins / memecoins
My portfolio mostly is:
BTC
XRP
HBAR
Then I have small holdings (£100 or less) of a lot of coins like USDC, DOT, ADA, AVAX, LINK and against my own advice I do also hold small amounts of PEPE and DOGE as it's fun to be on the rollercoaster.
I have ICP staked for 8 years non disolving earning me a yield that I re stake. I didn't count this as part of my portfolio as it's not accessible to me.
Like all investments, don't invest what you can't afford to loose and an important thing to know, "not your keys, not your coins" So if you have a lot of money invested, think about self custody.
Marshy
Well-known member
Saylor and Cathie Wood are crackpots Bitcoin Maxis... anything else to them is rubbish
Id look at Raoul Pal for a more broader view of the market as a whole.
Just my opinion.
I have:
Bitcoin, I'm 11% up on my original investment
ETH, up 84%
Solana, up 33%
Jasmy, took out original stake and up 125% on original
Powerledger, down 30%
SHIBA, down 22%
Uniswap, down 48%
Harvest, down 80%
Decentraland, down 90%
Ribbon, wow down 96%
Overall, back to original stake, and £498 taken out
Bitcoin, I'm 11% up on my original investment
ETH, up 84%
Solana, up 33%
Jasmy, took out original stake and up 125% on original
Powerledger, down 30%
SHIBA, down 22%
Uniswap, down 48%
Harvest, down 80%
Decentraland, down 90%
Ribbon, wow down 96%
Overall, back to original stake, and £498 taken out
Marshy
Well-known member
ok this is not financial advice. Do your own research before investing.
For me...
XRP
XLM
Cardano
Quant
Flare
Hbar
Render
Thats a mixture of larger and slightly smaller projects. I like them all and think the returns will be very good this cycle.
For me...
XRP
XLM
Cardano
Quant
Flare
Hbar
Render
Thats a mixture of larger and slightly smaller projects. I like them all and think the returns will be very good this cycle.
I don’t really know what I am doing. I use SwissBorg. A simple ap that an idiot like me can use.
They have some thematics where they look after the trading for you. They are bundles of coins. So for example best blockchains which has 12 different coins with different levels of investment. Bitcoin, ethereum, SwissBorg, solana etc. then they have other ones with a different focus such as memecoins, gamer coins etc.
I just put in a few quid and left to see what happened. I take out profits every now and then and just sit and wait when it falls because it has always come back stronger. I would never invest what I could not afford to lose and over the last few years I have paid for my golf membership and a new set of clubs so it is useful.
Hopefully useful.
Ding Dong !
Boy I'm HOT today !
I have to admit I really do not understand cryto so generally avoid. However in 2022 I did throw £1000 at Bitcoin when the price was circa £29K.
Last week I took the £1K off the table to protect my initial stake and a £200 profit by selling half of the BTC I had........now a free ride with about £1450 still in and will let it ride out.
Though I may take a sneaky peek at XRP
Last week I took the £1K off the table to protect my initial stake and a £200 profit by selling half of the BTC I had........now a free ride with about £1450 still in and will let it ride out.
Though I may take a sneaky peek at XRP
You are right with 99.9% of coins. I would say potentially BTC and Eth are exceptions - medium of exchange / Store of value over time and Eth is a network upon which other things (e.g Dapps and NFTs) are built.
A mex eyecan
Well-known member
- Nov 3, 2011
- 3,854
I really, really just can’t get my head around this stuff. Just leave me be with my old fashioned money.
Knocky's Nose
Mon nez est retiré.
Excellent post. Pretty much nails it.
Knocky's Nose
Mon nez est retiré.
RandyWanger
Je suis rôti de boeuf
A nice pump over night.
My Golden Thematic is going very well and the Best Blockchains has almost recovered back to the initial balance in March when I opened it.
ADA doesn 't get mentioned a lot here. I'm 119% up on that although it's a tiny proportion of my portfolio but I like the use cases .
DOT is still a big looser for me but that has almost recovered now so I'll be swapping that soon.
LEt me know when you find the top! Enjoy this bull run.
My Golden Thematic is going very well and the Best Blockchains has almost recovered back to the initial balance in March when I opened it.
ADA doesn 't get mentioned a lot here. I'm 119% up on that although it's a tiny proportion of my portfolio but I like the use cases .
DOT is still a big looser for me but that has almost recovered now so I'll be swapping that soon.
LEt me know when you find the top! Enjoy this bull run.
Anger
Well-known member
- Jul 21, 2017
- 535
Bill Maher calls it 'currency for criminals' which sounds about right, so it has some purpose, just not a very worthy one.