[Finance] The cryptocurrency (Bitcoin etc) thread

[Barnet Seagull]

which exchange are you with - i lost access to binance after they stopped taking GBP deposits so im with kraken. unfortunately kraken dont support OCO deals where u can set a stop loss and a take profit on the same transactions which on several occassions seen my profits disappear whilst i slept!

One question for you...Have u ever sat and watched the graphs, its ridiculous how ETH / ADA / SOL and few others, you can almost overlay the 5 minute graphs showing that this is inevitably computer algorithms driving the market in both directions.

Kraken too. The lack of OCO is annoying but I prioritise the stop loss limit orders where I'm ahead, adjusting them frequently in rising markets until close to my exit point. Depending on how I see things going, I may then look to exit at a lower point or just wait and readjust again and exit at or above the plan.

As I've said previously on here, I'm very cautious in my approach on trading. I'm looking to enlarge my holdings rather than chase prices. The price only matters when you withdraw.

Doing it this way, all I have in crypto is now profit. I've long since recovered my initial modest investment and very much limit and see my trading as pure gamble.

 

[CheeseRolls]

you know price can go down right? so that very, very low risk isnt. if you bought in April you'd still be down over 20%, wipes out the "interest". these high rates are fun while price appreciates, just know to get out before the bear. nothing in crypto is low risk, apy is a myth, just ride the waves of the tokens themselves.

I am a big fan of APYs. If you are building a position, stake and get more coins can be a really useful strategy. As [MENTION=4399]acrossthepond[/MENTION] says the near 20% return is against UST, which has shown itself to be very stable even against short term market shocks.My bear market preparation strategy is to move profits into Anchor and UST and then to use this as a liquidity pair. Anc/UST is currently returning just under 80% p.a. on Anchor and holding UST will reduce the downside. The bet if you want to put it in those terms, is that there are currently $4bn funds in UST and today this is largely driven through the Terra Luna network. As this opens up to many more networks, this is likely to see huge growth. I think Anchor is very undervalued in this scenario.

 

[CheeseRolls]

HBAR had a good week hitting its ATH, hopefully it consolidates now and bounces back up again in a few months

I haven't sold any HBAR on the back of this week's surge. I am hoping there is still a lot more to come. The developer incentives announced this week, suggest a huge confidence in their long term ambitions. I think Hedera stands out as doing something very different to the rest of the market. This is attractive, but at times frustrating when the market doesn't really get what they are building.

 

[CheeseRolls]

got BADLY stung last week. i was using 3.5 ETH and some USD as collateral currency to stake ADA on leverage after it dropped from 3 to 2.8 . Then THAT DAY!! Bitcoin down ETH down and ADA down even more......not exactly sure of the sequence of events as it happened when i wasnt monitoring. all i know is when the crash started i ran out of collateral of ada=2.33 , after they had already sold some of my ETH. Of course the market immediately recover but then i wasn't holding anything. it was like from 3 minutes i had 15k in cypto to being left with 5k in cash and all my crypto liquidated. Then to make it worse ETH rebounded from a bottom of 2900 back up to 3250 meaning my remaining cash can only buy 1.5 ETH.....

im now undecided whether to just leave the remaining money in ETH or go for broke to try to recover some losses by shorting some currencies tomorrow once the EVERGRANDE missed payment is official and (SICK I KNOW) hoping that BTC and ETH crash again!! its counter to all my instincts to do that but it may be an opportunity?

Any of you guys ever gambled with crypto like this or are u all sensible lads and just invest it only?

No can't help sorry. At some level all investment is gambling and crypto is at the high risk end of the spectrum.

There are people who have an edge and can make money doing what you are attempting. Any advice you can get here is akin to me telling you to bet on four, because it seems to come up a lot whenever I roll a dice.

 

[beorhthelm]

I am a big fan of APYs. If you are building a position, stake and get more coins can be a really useful strategy. As @acrossthepond says the near 20% return is against UST, which has shown itself to be very stable even against short term market shocks.

if we were measuring risk with return conventionally, 20% is junk bonds. i know thats simplistic maybe hard wired into me, i dont trust high % and dont understand where the yield is coming from (well i do, its from issuance and defaults usually). i'd rather put money in Luna and see the 5-6x than into UST for a risky 20% (and did ). crypto is about asymmetric advantage.

and Hedra is on a surge because they're releasing $5bn worth of HBAR for developers. same tactic most the other recent success stories have, issue lots of tokens to drive activity. we'll see surges in price as people rush in to get free token (aka APY), then inevitable crash as there is so much supply. ride the wave.

 

[CheeseRolls]

if we were measuring risk with return conventionally, 20% is junk bonds. i know thats simplistic maybe hard wired into me, i dont trust high % and dont understand where the yield is coming from (well i do, its from issuance and defaults usually). i'd rather put money in Luna and see the 5-6x than into UST for a risky 20% (and did ). crypto is about asymmetric advantage.

and Hedra is on a surge because they're releasing $5bn worth of HBAR for developers. same tactic most the other recent success stories have, issue lots of tokens to drive activity. we'll see surges in price as people rush in to get free token (aka APY), then inevitable crash as there is so much supply. ride the wave.

Always happy to list to what you have to say. It always comes from a sensible place.
Do Kwon the CEO and founder of Terra wants to make UST THE stablecoin for crypto. From my perspective the comparison to junk bonds here is not that useful. The key things to note is the burn rate of Luna, which will throttle supply and for anchor you have a whole bunch of people borrowing and paying interest, which has to go somewhere. There is plenty of opportunity here to borrow money at a lower rate than you can earn from staking. I am not playing that game, but intend to benefit from what others may choose to do.

Hedera in encouraging developers to the platform, is just driving new business and generating new revenue streams. Last time I looked they had performed 1.6 billion transactions. This is just scratching the surface of what is possible. I think a large percentage of this growth will come from use cases, which do not compete with the blockchain/finance use cases where the market is focussed.

 

[giveusfalmerplease]

How does that work? I.e. do u have to tie up the money for years? What's the minimum investment and most importantly can you withdraw at short notice if needed? I know that contradicts the first question but say they want min 3 years but u can withdraw early with a penalty. Links would be great!

 

[Tyrone Biggums]

All I can say is accumulate DOT and then stake it in their parachain auction when it arrives.

 

[CheeseRolls]

All I can say is accumulate DOT and then stake it in their parachain auction when it arrives.

I sold off my DOT last week and a couple of others, which I also think may do very well. My experience of staking polkadot, was like the hotel California and I wanted a bit more flexibility and less things to keep an eye on.

Despite the dip in the last couple of days, I don't think there will be a problem, finding things to go up in the next couple of months. The skill will be timing when to take profits.

 

[peterward]

Almost every year like clockwork as the autumn approaches, when summer holidays end and crypto markets usually climb, there is some massive China FUD news that sends markets down in the short term, usually before China softens approach or rows back and here we are again!

Been at this for 7 years and you can set your clock by Autumnal China crypto FUD........ Whats the odds the Chinese are actually manipulating/accumulating

https://finbold.com/crypto-market-wipes-100b-in-minutes-as-china-vows-crackdown-on-crypto-trading/

 

[beorhthelm]

apparently its not even a new announcement, just the last China ban been re-circulated. crypto market has the memory of a goldfish.

 

[peterward]

apparently its not even a new announcement, just the last China ban been re-circulated. crypto market has the memory of a goldfish.

youre not wrong!


The quicker the sector is de-china'd the better.

https://cointelegraph.com/news/old-fud-new-btc-price-dip-month-old-china-crypto-ban-sparks-42k-bitcoin-price-drop

 

[Notters]

This seems a good time to mention Particl again!

The all-singing decentralised Marketplace (think a crypto ebay) will go live next week and particl prices have been climbing steadily.

 

[GrizzlingGammon]

Where do you think BTC will end up in its current downtown?

Looks to be heading sub 40k.

 

[Berty23]

A British coin I have mentioned a few times on here called Electroneum is doing a blockchain update this week and the marketing manager has been dropping massive hints of big deals ready to go. No idea whether it will come to anything but it is only 2 cents so who knows?

 

[Deleted member 2719]

A British coin I have mentioned a few times on here called Electroneum is doing a blockchain update this week and the marketing manager has been dropping massive hints of big deals ready to go. No idea whether it will come to anything but it is only 2 cents so who knows?

How much should we stick on it Berty? A tenner, the missus or the house and the ford Anglia

 

[pb21]

This seems a good time to mention Particl again!

The all-singing decentralised Marketplace (think a crypto ebay) will go live next week and particl prices have been climbing steadily.

Things are looking good for this...

https://particl.news/particl-v3-mainnet-release-date-announcement/

 

[Berty23]

How much should we stick on it Berty? A tenner, the missus or the house and the ford Anglia

Absolutely no idea. I don’t know what I am talking about. It is just speculation and gambling really. I am absolutely convinced that a few will go through the roof and most will die. It is just being lucky and having the one that takes off. I have already taken out far more than I have put in so this feels like a free roll.

I will edit this post on Sunday once the update has happened and I can answer your question properly with hindsight. They often say “buy the rumour and sell the news” but I am hoping this is under the radar of the whales. Chances are it doesn’t do much to price but then chances are we don’t win the lotto either and surely this is better odds than that!

 

[Deleted member 2719]

Absolutely no idea. I don’t know what I am talking about. It is just speculation and gambling really. I am absolutely convinced that a few will go through the roof and most will die. It is just being lucky and having the one that takes off. I have already taken out far more than I have put in so this feels like a free roll.

I will edit this post on Sunday once the update has happened and I can answer your question properly with hindsight. They often say “buy the rumour and sell the news” but I am hoping this is under the radar of the whales. Chances are it doesn’t do much to price but then chances are we don’t win the lotto either and surely this is better odds than that!

Okay, I am tempted by this one. Maybe I should let the palarse adrenalin die down for a few days first!

 

[CheeseRolls]

Some coverage on BBC News last night on Hedera Hashgraph and it's green credentials.

Apologies can't find this on iPlayer, but there is a youtube here https://www.youtube.com/watch?v=P6IDAdGOKSk, with someone pointing their phone at the TV.