[Finance] The cryptocurrency (Bitcoin etc) thread

[Tyrone Biggums]

Do you just take a punt after reading a one off article or picking up a twitter-tip, or go into more depth about the tech behind the coin?

I like to seeing what the different projects have to offer. That kind of stuff is super interesting. I spend a bit of time searching for everything I can on it. Mostly read articles or watch YouTube vids referencing something.

In this case It's thing is creating solutions in Telco which makes it kinda different at this stage.

https://www.dentwireless.com/

It's a bit of fun at these levels. Sylo is another one that the price is tiny but the team and product aren't bad.

 

[Marshy]

Do you just take a punt after reading a one off article or picking up a twitter-tip, or go into more depth about the tech behind the coin?

DYOR - always always research

We are in a bull market though so pretty much every mid-large coin will pump hugely at some point over the next 6 months.

Sadly utility does not matter really as yet, It will do though and very soon in my opinion. Fingers crossed.

So personally i only invest in coins/assets/tokens that provide a real world use/solution.

im a HODLer though so the volitility of the market really does not bother me. I will take out my initial investment when the time is right and just let the rest ride.

 

[CheeseRolls]

This is what my portfolio looks like today. I could put up an argument for investing in 30-40 right now. I can explain what I am hoping to do with all of these but not explain why I think one in my portfolio is necessarily better than one I have overlooked. There is no right or wrong answer until after your race is run.

There has been some right rubbish attracting a lot of money in the past couple of weeks. If you put money into something with no utility, you may as well just back a random horse in a race, someone has to win. It is usually the bookies.

 

[Notters]

DYOR - always always research

We are in a bull market though so pretty much every mid-large coin will pump hugely at some point over the next 6 months.

Sadly utility does not matter really as yet, It will do though and very soon in my opinion. Fingers crossed.

So personally i only invest in coins/assets/tokens that provide a real world use/solution.

im a HODLer though so the volitility of the market really does not bother me. I will take out my initial investment when the time is right and just let the rest ride.

Very much buy for utility but as you say, this hasn't to date been a mark of success, with nonsense like doge doing well.

 

[beorhthelm]

View attachment 136187

very interesting portfolio, can you give the prices for 2022 what tool generates that?

used to hear so much about miota, havent seen it shilled in an age.

 

[Berty23]

For something that has no value (according to some) the former Aussie cricketer Brett Lee is getting lots of praise for donating one Bitcoin to the Indian covid effort.

 

[Barnet Seagull]

Very much buy for utility but as you say, this hasn't to date been a mark of success, with nonsense like doge doing well.

Agreed. I also buy for utility as in my mind at least it's significantly less risky. If there is no utility, it's a huge risk and at some point you have to expect a crash. Things like doge just feel like a gamble too far.

 

[Tom Hark Preston Park]

Come buy my pretty tulips you SILLY silly buggers

 

[Berty23]

Agreed. I also buy for utility as in my mind at least it's significantly less risky. If there is no utility, it's a huge risk and at some point you have to expect a crash. Things like doge just feel like a gamble too far.

I like utility too. Otherwise it can just vanish (well anything can but at least utility makes it less likely). I have already taken out far more than I have put in so just in for the rise. Some people call it tulips (as evidenced above) but if there is a coin that people are paid in for doing a job and they can spend that on electricity or topping up their phone data then this is a clear purpose, for example.

People who still shout “tulips” don’t seem to appreciate any of this.

 

[Tom Hark Preston Park]

I like utility too. Otherwise it can just vanish (well anything can but at least utility makes it less likely). I have already taken out far more than I have put in so just in for the rise. Some people call it tulips (as evidenced above) but if there is a coin that people are paid in for doing a job and they can spend that on electricity or topping up their phone data then this is a clear purpose, for example.

People who still shout “tulips” don’t seem to appreciate any of this.

You don't need to look as far back as tulip mania. You just need to look as far back as dot.com mania. You getting rich depends entirely on you offloading your bagful of magic beans to some Greater Fool in exchange for real cash money. Same as it ever was

 

[Marshy]

You don't need to look as far back as tulip mania. You just need to look as far back as dot.com mania. You getting rich depends entirely on you offloading your bagful of magic beans to some Greater Fool in exchange for real cash money. Same as it ever was

it really dosent but you can go that route if you like, its no dofferent to the stock market, just more volatile currently.

Even in the dot.com mania you had very big winners.. and a lot of losers... i believe i am on a couple of very big winners.. we shall see

ITs quite exciting regardless. And has proved a welcome distraction in the last year.

As for offloading my magic beans.... i am never converting mine back to fiat currency... i will be borrowing against them or earning money lending them if things go as i think they will..

 

[beorhthelm]

Agreed. I also buy for utility as in my mind at least it's significantly less risky. If there is no utility, it's a huge risk and at some point you have to expect a crash. Things like doge just feel like a gamble too far.

irony there is Doge does have utility, its a bona fide crypto currency that can and have been used for transactions. its a fork of Bitcoin with different parameters and algorithm.

 

[Berty23]

You don't need to look as far back as tulip mania. You just need to look as far back as dot.com mania. You getting rich depends entirely on you offloading your bagful of magic beans to some Greater Fool in exchange for real cash money. Same as it ever was

That is just not true though is it. You have picked something that crashed and ignored the possibility that things can have and hold value. Gold. Diamonds etc. Houses. Vintage cars. Art. Antiques. Etc etc.

Keep an eye out for NFTs and monetising gaming far more. It is just starting. When I was at school kids wanted the newest trainers. Now they want the best skin in fortnite or something similar. These skins will get a value and will be tradeable etc. Just because you don’t see value in something doesn’t mean that others don’t. Currency is meaningless really isn’t it? If I have loads of yen and try to spend it in Brighton then the paper money has no value. I would have to change it for whatever someone would pay me ie the exchange rate. This is based on people trading and placing a value in a bit of paper (or plastic if it is now plastic money).

Crypto can be the same. Held on phones etc. Why should people use money that is worth nothing in their own country when they could use something with global value.

I am 41 and have kids 10,10 and 12. I shall be keeping an eye on all the stuff that they get interested in because things that younger generations see as having value are very different to us old gits.

 

[Springal]

What is the best / easiest / safest way to sell some BTC for GBP?

 

[beorhthelm]

You don't need to look as far back as tulip mania. You just need to look as far back as dot.com mania. You getting rich depends entirely on you offloading your bagful of magic beans to some Greater Fool in exchange for real cash money. Same as it ever was

laugh along, my bag of magic beans will pay for a reasonably sized house.

 

[Tyrone Biggums]

Very much buy for utility but as you say, this hasn't to date been a mark of success, with nonsense like doge doing well.

Best to look past the dogelike crap, in some ways it's a ponzi scheme that preys on people new to the market. Will always be an aspect of the market.

The key is to pay attention to the business side of things and what partnerships are starting to be made with non-crypto organisations.

That side of things is really starting to ramp up and become involved in the market and bring a new legitimacy to it.

I think Covid has played a big part in escalating the move to cashless societies compared to if it hadn't occurred.

The political landscape and it's ties to the 1% is also driving the popularity of decentralised platforms.

 

[CheeseRolls]

very interesting portfolio, can you give the prices for 2022 what tool generates that?

used to hear so much about miota, havent seen it shilled in an age.

Good Spot, haha. Fat fingers in Excel.

Iota are going live with Chrysalis in two days time, which represents something of a comeback, after what could best be described as some bumps along the road on their journey. German developers looking at IoT solutions in a large market that is not going to default to using US centric solutions. I think they MIGHT be a long term serious player.

 

[nicko31]

Come buy my pretty tulips you SILLY silly buggers

The markets generally starting to feel very 1999 when cabbies would be dishing out tech share tips

All the talk of Cypto currencies is a sign we're getting near the top of the cycle. We've been here before fellas, don't risk more than you can lose

 

[Tyrone Biggums]

That is just not true though is it. You have picked something that crashed and ignored the possibility that things can have and hold value. Gold. Diamonds etc. Houses. Vintage cars. Art. Antiques. Etc etc.

Keep an eye out for NFTs and monetising gaming far more. It is just starting. When I was at school kids wanted the newest trainers. Now they want the best skin in fortnite or something similar. These skins will get a value and will be tradeable etc. Just because you don’t see value in something doesn’t mean that others don’t. Currency is meaningless really isn’t it? If I have loads of yen and try to spend it in Brighton then the paper money has no value. I would have to change it for whatever someone would pay me ie the exchange rate. This is based on people trading and placing a value in a bit of paper (or plastic if it is now plastic money).

Crypto can be the same. Held on phones etc. Why should people use money that is worth nothing in their own country when they could use something with global value.

I am 41 and have kids 10,10 and 12. I shall be keeping an eye on all the stuff that they get interested in because things that younger generations see as having value are very different to us old gits.

Chiliz is an interesting one to look into and follow purely from a football/sports fan perspective.

Interestingly it's biggest partnerships were with teams involved in the ESL debacle. Do wonder had it happened what impact that would have had on its price.

Still is a coin with potential though.

 

[Dick Swiveller]

I am 41 and have kids 10,10 and 12. I shall be keeping an eye on all the stuff that they get interested in because things that younger generations see as having value are very different to us old gits.

Strange names to give your kids. Looks like a family tradition though.