[Finance] The cryptocurrency (Bitcoin etc) thread

[peterward]

Thank you - great. I'm only looking of sticking in the value of a very decent 2nd hand bike at present. So if it goes to shit, it will be like having my bike stolen - which I can get over. I'm on Binance at present, I'll have to look into Kucoin and the trading bots - is that unique to them?

Your advice was what I was kind of planning. Something like 45% BTC, 35% ETH, 20% other.

Just dont do it today........ wait for things to settle, better to buy on way up than way down.

 

[Tom Hark Preston Park]

32-33 will have wiped out nearly all of the leveraged longs. Its a capitulation 100%, but I've seen so many... depends on your time frame, DCA'ing soon in top projects will reap big imho.

When the emotion is like this and the chart looks like this, this is where the non emotional make money. FOMO and FOLO (fear of losing out) is where most money is lost - emotional trading.

Wouldnt buy anything right now... no knife catching, but get your bids lined up....... Ive had 98% losses recover before... Wait for ETH/BTC to start consolidating and then DCA.

Genuine question: Do you know how silly you sound?

 

[beorhthelm]

Genuine question: Do you know how silly you sound?

all made sense to me.

filling out the McDonalds application to see me through to the next bull market.

 

[pb21]

er, correction, 45-50% losses across the board. usually laugh in the face of 20% drops this is definitely squeaky bum time. all the supports have failed, the bear projections look optimistic. doubtful BTC will recover the weekly 20 MA from here so might be the end of the cycle. balls of steel to be entering, i did have a cheeky recovery punt but thats long gone.

just seen gas fee 1685! this leads me to speculate something thats been concerning me a while, how much of the pump is on leverage. many have been easily borrowing crypto to buy crypto, and rolling it up again. i wondered if this would lead to a spectatcular unwinding...

Any old Tom, Dick or Harry could open up an account and get up to 100x leverage, IMO it's why the drop has been so violent with all the auto liquidations going on.

Its also why I think the market is in a very uncertain position, massive price drops, still 'early' in the anticipated bull run period...

 

[CheeseRolls]

Genuine question: Do you know how silly you sound?

THPP - let me hold up a mirror for you.

PW has posted some really helpful stuff on this thread. You have just turned up and taken the piss.
Personally I am not offended by that, in fact I welcome the healthy cynicism.

My Crypto fund is suddenly looking a lot less healthy, but I wasn't planning on spending it this week anyway.
There was a big exchange rate adjustment about two weeks ago, which wiped five figures from my pension pot overnight. So much for that sensible investment.
Both have time to recover, meanwhile my ISA is growing at a health 0.2% p.a - which is great news

I hope other people are not suffering and that your cynicsim isn't being seen as provocative.

 

[beorhthelm]

Any old Tom, Dick or Harry could open up an account and get up to 100x leverage, IMO it's why the drop has been so violent with all the auto liquidations going on.

Its also why I think the market is in a very uncertain position, massive price drops, still 'early' in the anticipated bull run period...

its not the 100x or even 10x leverage that concerns me - they'd be liquidated in a small change. its the defi crowd, all those farms and 100+ APY are based on a cycle of tom, dick and harry borrowing and lending to each other in a round robin. the massive gas fees indicates massive unwinding.

 

[CheeseRolls]

its not the 100x or even 10x leverage that concerns me - they'd be liquidated in a small change. its the defi crowd, all those farms and 100+ APY are based on a cycle of tom, dick and harry borrowing and lending to each other in a round robin. the massive gas fees indicates massive unwinding.

Watch out for Tether liquidity issues. That could get really nasty quickly, backed by less than 3% cash!

 

[Albion Dan]

This is the horrendous reality unfortunately. Genuinely feel sorry for anybody risking blowing their retirement funds and/or their kids college funds on these stupid internet magic beans. :

Anybody that does/did that is a total idiot and deserves to lose their money. Exactly the same as it would be investing in the stock market which is going to get the biggest shock since the 30s soon.

 

[sydney]

where's all the money gone...?? serious question .....Mr Musk is taking the proverbial all the way to his off shore account.

 

[Albion Dan]

Genuine question: Do you know how silly you sound?

What he said is actually 100% correct. There have been many many days like this in crypto.

 

[peterward]

Genuine question: Do you know how silly you sound?

i've had many variations of Tom Hark Preston Park tell me that since 2015, when Bitcoin was under $1000 and before I quadrupled my investments (with lots of losers too) and 6x my pension with crypto/derivatives. All the naysayers that don't understand the space or the technology but will it to lose to try and prove their imaginations. You really believe Ethereum will fail? There isn't a chance it will.

Youre the vagabond of crypto, hahhhh told you so with every common large move!. Sure you'll still be here in 3 years as we hit 100K babbling on about Dutch bulb fields or tulips to an audience of one?

2 big steps forward one big step back is the way it rolls. With lots of chop inbetween.

I'm not going to tell you how much in £ terms I have made, but needless to say I have no interest in the opinion of NSC's resident Peter Schiff. I know the reality.

Enjoying your depreciating £ and your 1.25%pa. Before today I had done 846% in the last year, today has been savage...but i'm not in the least bit concerned of the long term, seen it all before

Putting your faith in a fractional reserve currency, with biblical levels of debt, thats deflating year on year.... I'm happy being silly fella


UTA

 

[peterward]

Anybody that does/did that is a total idiot and deserves to lose their money. Exactly the same as it would be investing in the stock market which is going to get the biggest shock since the 30s soon.

Totally this.... any idiot borrowing to gamble on crypto deserves to lose, 100x leverage with liquidation just a fraction away is a total mugs game, its gambling not investing.

totally concur about the stock market too.

Ive got about 15-20% at any one time of total investments (savings/pension) in crypto an its massively the best performing and by far the most fun!

 

[Tom Hark Preston Park]

i've had many variations of Tom Hark Preston Park tell me that since 2015, when Bitcoin was under $1000 and before I quadrupled my investments (with lots of losers too) and 6x my pension with crypto/derivatives. All the naysayers that don't understand the space or the technology but will it to lose to try and prove their imaginations. You really believe Ethereum will fail? There isn't a chance it will.

Youre the vagabond of crypto, hahhhh told you so with every common large move!. Sure you'll still be here in 3 years as we hit 100K babbling on about Dutch bulb fields or tulips to an audience of one?

2 big steps forward one big step back is the way it rolls. With lots of chop inbetween.

I'm not going to tell you how much in £ terms I have made, but needless to say I have no interest in the opinion of NSC's resident Peter Schiff. I know the reality.

Enjoying your depreciating £ and your 1.25%pa. Before today I had done 846% in the last year, today has been savage...but i'm not in the least bit concerned of the long term, seen it all before

Putting your faith in a fractional reserve currency, with biblical levels of debt, thats deflating year on year.... I'm happy being silly fella


UTA

Fair play my friend. Happy For Your Gains

But this a forum right? So until I get banned from the thread for not joining in the echo chamber, I reserve the right to put in my tuppenceworth to maybe save the likes of the shoeshine boy and [MENTION=457]sheebo[/MENTION] from being overly caught up in this MLM frenzy. You're an old hand all the way back to, oh, 2015. Maybe you're too young to remember people like you saying exactly the same things during the dotcom boom. New emperor, same clothes...

UTA

 

[Seagull58]

where's all the money gone...?? serious question .....Mr Musk is taking the proverbial all the way to his off shore account.

With the disclaimer that I haven't studied Musk's behaviour and utterings on Crypto in any detail, I am old enough to remember when Ivan Boesky, Michael Milken and a few other big swinging dicks got busted for insider trading and manipulating the stock market. It looks to me from a distance that this may settle down a bit when the powers that be decide that Musk has taken the piss rather too much and they slap the cuffs on him.

 

[vagabond]

i've had many variations of Tom Hark Preston Park tell me that since 2015, when Bitcoin was under $1000 and before I quadrupled my investments (with lots of losers too) and 6x my pension with crypto/derivatives. All the naysayers that don't understand the space or the technology but will it to lose to try and prove their imaginations. You really believe Ethereum will fail? There isn't a chance it will.

Youre the vagabond of crypto, hahhhh told you so with every common large move!. Sure you'll still be here in 3 years as we hit 100K babbling on about Dutch bulb fields or tulips to an audience of one?

2 big steps forward one big step back is the way it rolls. With lots of chop inbetween.

I'm not going to tell you how much in £ terms I have made, but needless to say I have no interest in the opinion of NSC's resident Peter Schiff. I know the reality.

Enjoying your depreciating £ and your 1.25%pa. Before today I had done 846% in the last year, today has been savage...but i'm not in the least bit concerned of the long term, seen it all before

Putting your faith in a fractional reserve currency, with biblical levels of debt, thats deflating year on year.... I'm happy being silly fella


UTA

FWIW I’m a believer in crypto.

 

[chiefkickass]

where's all the money gone...?? serious question .....Mr Musk is taking the proverbial all the way to his off shore account.

DTCC and OCC (clearing houses) have increased liquidity requirements from banks, financial institutions and hedge funds due to high margin. This kicked in at market open (US) today


Sent from my iPhone using Tapatalk

 

[Sheebo]

Fair play my friend. Happy For Your Gains

But this a forum right? So until I get banned from the thread for not joining in the echo chamber, I reserve the right to put in my tuppenceworth to maybe save the likes of the shoeshine boy and [MENTION=457]sheebo[/MENTION] from being overly caught up in this MLM frenzy. You're an old hand all the way back to, oh, 2015. Maybe you're too young to remember people like you saying exactly the same things during the dotcom boom. New emperor, same clothes...

UTA

Won’t be investing any of my dolla so win win x

 

[peterward]

Fair play my friend. Happy For Your Gains

But this a forum right? So until I get banned from the thread for not joining in the echo chamber, I reserve the right to put in my tuppenceworth to maybe save the likes of the shoeshine boy and [MENTION=457]sheebo[/MENTION] from being overly caught up in this MLM frenzy. You're an old hand all the way back to, oh, 2015. Maybe you're too young to remember people like you saying exactly the same things during the dotcom boom. New emperor, same clothes...

UTA

Furry Muff and for the record...... youre one of my fave Albion contributors.

it is like the dotcom bubble but also very different. Its not just transactional payment systems but so much cutting edge technology that will power the internet of things world of tommorow. The projects vary massively.

Like dotcom many of the offerings are utter garbage (sh1tcoins), most WILL fail but some will be the Apples, Microsofts, Facebooks or Amazons of tomorrow and so many do solve real world problems and increase efficiencies.

It may well be that bitcoin isn't dominant in years to come just as myspace or friends reunited were before Facebook came along. But there are huge gains possible. Ethereum is what so much else is built upon (microsoft or apple of blockchain) its going nowhere but up long term imho.

ofc there is a lot of rubbish that will make you poor just like there would be in penny stocks, and a lot of people with a casino like get rich quick mentality gambling on meme coins or high leverage trades as speculative punts........ but theres also many gems and some truly great projects making simple people millionaires who just hold them.

When you want a hand with your first wallet let me know!

 

[peterward]

FWIW I’m a believer in crypto.

FWIW youre alright VB except the "told you so" i was referencing re: Potter every other week.

FWIW Potter in

 

[DJ NOBO]

Furry Muff and for the record...... youre one of my fave Albion contributors.

it is like the dotcom bubble but also very different. Its not just transactional payment systems but so much cutting edge technology that will power the internet of things world of tommorow. The projects vary massively.

Like dotcom many of the offerings are utter garbage (sh1tcoins), most WILL fail but some will be the Apples, Microsofts, Facebooks or Amazons of tomorrow and so many do solve real world problems and increase efficiencies.

It may well be that bitcoin isn't dominant in years to come just as myspace or friends reunited were before Facebook came along. But there are huge gains possible. Ethereum is what so much else is built upon (microsoft or apple of blockchain) its going nowhere but up long term imho.

ofc there is a lot of rubbish that will make you poor just like there would be in penny stocks, and a lot of people with a casino like get rich quick mentality gambling on meme coins or high leverage trades as speculative punts........ but theres also many gems and some truly great projects making simple people millionaires who just hold them.

When you want a hand with your first wallet let me know!

I do hope you’re right about Eth, Wardy. I’m up to my eye balls in it !