[Finance] The cryptocurrency (Bitcoin etc) thread

[Tyrone Biggums]

Is this the kind of crap you are 'investing' in? It's pure Ponzi, it's built on fresh air, and it's completely unsustainable. Guaranteed you'll wake up one morning, withdrawals are suspended and your 'investment' is gone in a puff of smoke and mirrors

Haha you're clueless.

I use cold storage wallets so that will never happen to me.

Next.

 

[Tyrone Biggums]

What's your ROI looking like over the last 6 months?

Sitting at +26%

You can do quite well shorting the market in times of down turn.

You can also do quite well when there are the obligatory rallies in the same market.

 

[CheeseRolls]

Sitting at +26%

You can do quite well shorting the market in times of down turn.

You can also do quite well when there are the obligatory rallies in the same market.

Well then you have absolutely smashed it - well done. Trading and cold storage wallets is not the easiest combination to manage, it must keep you busy?

 

[giveusfalmerplease]

But then you can't react to a sudden crash or set stop loss limit, so risks whichever you take.

For me the most surprising thing is that some of the exchanges impacted appeared safe as houses. I mean had it been "Jo blogs investment house" or even "Brighton Crypto " then you deserve to get stung but these players are massive, multi million dollar advertising campaigns. Of course now we are learning how they funded the adverts

Haha you're clueless.

I use cold storage wallets so that will never happen to me.

Next.

 

[schmunk]

Sitting at +26%

You can do quite well shorting the market in times of down turn.

You can also do quite well when there are the obligatory rallies in the same market.

You remain, as always, one of life's winners...

 

[Marshy]

What point would that be?

I keep getting told by these stock market stooges that crypto is this and that yet I still keep getting better ROI than they do.

If I'm making money then isn't that the exact point of any financial investment?

I mean who actually gives a shit how you do it so long as you do it.

yep and wait until they see the stock market tokenised and on a blockchain....

 

[Tom Hark Preston Park]

Haha you're clueless.

I use cold storage wallets so that will never happen to me.

Next.

G

Haha you're clueless.

I use cold storage wallets so that will never happen to me.

Next.

Good to hear

Hope you've taken adequate precautions to ensure the security of your cold storage wallets. Coffee tin or birdbath?

 

[CheeseRolls]

yep and wait until they see the stock market tokenised and on a blockchain....

Did you see that native staking of Hbar on the Hedera network is now available? If you can work out how to transfer your hbar onto the hedera network, the hashpack wallet on mobile is really simple to use. I am currently staking on the Avery Dennison node, other nodes are available.

 

[warmleyseagull]

What point would that be?

I keep getting told by these stock market stooges that crypto is this and that yet I still keep getting better ROI than they do.

If I'm making money then isn't that the exact point of any financial investment?

I mean who actually gives a shit how you do it so long as you do it.

Well, do you? It might stack on paper but can you be certain that you get your money out when you want it? FTX is a warning shot (and shows how $bns wiped off in a moment, including charities)? Crypto has two huge problems for private investing: volatility and illiquidity. The latter is 'solved' by so called exchanges like FTX; the smartasses like SBF realise THAT is where the money is (or more correctly in his case, was), blow trying to guess the price of crypto. Take the money from wannabes and fraud it away, that's the best game in town.

You are wrong to say shares offer inferior return; look at price of Novacyt, you could have got 880% return in 3 months had you bought them in November 2019; and, more importantly, could have sold them, readily on a recognised exchange. It is matter of choice and timing; there is plenty of opportunity to gain (and lose) but at least you can get out safely when you want to.

We should give a shit when each bitcoin requires the electrical output of Shanghai to mine for absolutely no useful purpose to mankind. At least shares offer a degree of choice to those who have a conscience beyond making money for themselves.

 

[warmleyseagull]

Haha you're clueless.

I use cold storage wallets so that will never happen to me.

Next.

You are too smug. CSW is safe from fraud, but it is not safe from crypto being worth 10% today what it was yesterday.

 

[Tyrone Biggums]

You are too smug. CSW is safe from fraud, but it is not safe from crypto being worth 10% today what it was yesterday.

It's not smug, it's common sense.

There huge amounts of information out there regarding such things.

One of the most known sayings in the crypto space passed on to anyone new is "not your keys, not your coins".

It's no different to people who won't listen about password security for a myriad of other things.

Whatever happens doesn't happen because there's a lack of information out there with the warnings.

 

[Tyrone Biggums]

Well, do you? It might stack on paper but can you be certain that you get your money out when you want it? FTX is a warning shot (and shows how $bns wiped off in a moment, including charities)? Crypto has two huge problems for private investing: volatility and illiquidity. The latter is 'solved' by so called exchanges like FTX; the smartasses like SBF realise THAT is where the money is (or more correctly in his case, was), blow trying to guess the price of crypto. Take the money from wannabes and fraud it away, that's the best game in town.

You are wrong to say shares offer inferior return; look at price of Novacyt, you could have got 880% return in 3 months had you bought them in November 2019; and, more importantly, could have sold them, readily on a recognised exchange. It is matter of choice and timing; there is plenty of opportunity to gain (and lose) but at least you can get out safely when you want to.

We should give a shit when each bitcoin requires the electrical output of Shanghai to mine for absolutely no useful purpose to mankind. At least shares offer a degree of choice to those who have a conscience beyond making money for themselves.

880%, that's not that much really. I've had a few crypto buys that were significantly higher than that range over the last 7-8 years.

That's what can be had when you get in during the presale period.

Buying in the cents and selling in the high dollar range.

A project launched in a bear market for cents has often taken off to large numbers when the market turned.

So yes, shares do offer an inferior return if you're on top of all the information available out there.

 

[Pevenseagull]

All I know is that the bullshit artist in my local pub who told people he was a crypto millionaire earlier in the year has just applied for a Christmas job stacking shelves in a supermarket.

 

[Tyrone Biggums]

G

Good to hear

Hope you've taken adequate precautions to ensure the security of your cold storage wallets. Coffee tin or birdbath?

Fire proof safe concreted into the house foundation.

House might burn down but the one thing that'll survive is the safe

 

[Tyrone Biggums]

Well then you have absolutely smashed it - well done. Trading and cold storage wallets is not the easiest combination to manage, it must keep you busy?

Why would it keep me busy?

It's not like it can't be like any other hobby and just do it when you want to.

 

[Knocky's Nose]

It doesn't have a sustainable past. Crypto doesn't generate income, it doesn't possess assets. If you buy it, all you own is a bit of computer code, and all it is worth is what someone else will pay for it. There are no underlying assets and no trading income.

The future prospects are based on the idea that supply is limited (in theory at least) and so people will want them just because there aren't very many. A bit like non-fungible tokens, I suppose. The problem with any sort of use as a currency is that the exchange rate (as we have seen) is so wildly variable. Imagine if the dollar was worth £1.20 today but only 50p tomorrow - it wouldn't be the world's favourite currency then. People like holding dollars because they believe them to be stable.

I'm very much into Crypto but agree with your points. This, to me, and I'm possibly making this up, is 'Web2 Crypto'. What's coming next on Web3 is tokenisation of real-world assets. NFT's aren't just cartoon pictures of monkeys in tracksuits. BTC to me is just people like Saylor talking it up in a big auction room.

The Crypto coins and tokens which will survive and prosper going forwards will be the ones with real use-cases - the ones which 'do things'. Oh, and Bitcoin and Etherium as too many wealthy and powerful people are balls deep in it.

There's more than plenty of corruption in Government and the World Banking System to go round, and in the grand scheme of things Crypto is only getting started. As the DAVOS crowd and the US Fed quietly try to see out their own sub-agendas behind closed doors we all watch on and scratch our heads as to why inflation is rampant. We've been picking up the tab for years - but now it's time to leave the pub...

The USA has ridden the rest of the world like a horse with ralgex on it's knacker bag. Unless they can buy it some new conkers - it's going to fall over. Catastrophically so. BRICS and the Middle East are trying to see to it that the conker shop is slammed shut harder than the January transfer window...

 

[warmleyseagull]

It's not smug, it's common sense.

There huge amounts of information out there regarding such things.

One of the most known sayings in the crypto space passed on to anyone new is "not your keys, not your coins".

It's no different to people who won't listen about password security for a myriad of other things.

Whatever happens doesn't happen because there's a lack of information out there with the warnings.

Misunderstood my point. Never mind.

 

[warmleyseagull]

880%, that's not that much really. I've had a few crypto buys that were significantly higher than that range over the last 7-8 years.

That's what can be had when you get in during the presale period.

Buying in the cents and selling in the high dollar range.

A project launched in a bear market for cents has often taken off to large numbers when the market turned.

So yes, shares do offer an inferior return if you're on top of all the information available out there.

Your timing is good. well done. But fail to see why this means you staunchly defend a very volatile instrument. You hate it when I call crypto "Dutch tulips", but fail to acknowledge that many people made a lot of money out of Dutch tulips because they got the timing right. Thats the nature of speculation. I and others on here are simply of the view that crypto is no more than speculation; for sure some folk may make good but at the expense of many others who lose, a zero-sum game in effect. Your cold storage wallet could be worth zilch in the end.

To quote that guru of the investment world in today's Sunday Times, Mr. J Clarkson: "Sure, there was something on a computer that said they had something, and they were told they could use this on the dark web to buy drugs and guns and stolen credit cards. But if one of them came into my shop and offered to pay for half a dozen eggs using money that a man in T shirt in America said they had, I'd show them the door."

And therein is the bugger; no-one can convince those of us who treat crypto with all the love you would give to a tiger snake that there really is any more value to this thing than what the next biggest idiot is prepared to pay in order not to miss out. “What the wise do in the beginning, fools do in the end.” Warren Buffet

 

[Tyrone Biggums]

Your timing is good. well done. But fail to see why this means you staunchly defend a very volatile instrument. You hate it when I call crypto "Dutch tulips", but fail to acknowledge that many people made a lot of money out of Dutch tulips because they got the timing right. Thats the nature of speculation. I and others on here are simply of the view that crypto is no more than speculation; for sure some folk may make good but at the expense of many others who lose, a zero-sum game in effect. Your cold storage wallet could be worth zilch in the end.

To quote that guru of the investment world in today's Sunday Times, Mr. J Clarkson: "Sure, there was something on a computer that said they had something, and they were told they could use this on the dark web to buy drugs and guns and stolen credit cards. But if one of them came into my shop and offered to pay for half a dozen eggs using money that a man in T shirt in America said they had, I'd show them the door."

And therein is the bugger; no-one can convince those of us who treat crypto with all the love you would give to a tiger snake that there really is any more value to this thing than what the next biggest idiot is prepared to pay in order not to miss out. “What the wise do in the beginning, fools do in the end.” Warren Buffet

Well you use Dutch tulips and it is literally is nothing alike.

Tulips was a short lived market occurrence.

Bitcoin has survived several bear markets so your linking the two is wrong.

I've purchased goods before with crypto. So JC is also wrong.

Why would you think there aren't business out there that accept it as payment when that information is out there and easily found?

 

[RowZ]

Amazing the ignorance on web3 and ISO2022 and what this means to about 5/6 crypto assets. I already made 2000% over the years - not trading....following the future ....web3 services and CBDCS - and what assets will be the middleware and infrastructure for these. Never touched Bitcoin.

Happy share how the next 2 years will go........

Crypto market will get smashed......then later 2023.....when everyone bled out with inflation and recession - and Fiat on and off ramps more controlled (high street banks will 2025 be the on and off ramps) - the gang behind the central banks will throw $10T to $20T into 20 or so assets creating a Super Asset Class......research 4IR.....research Smart Contract oracles and corporate secrecy.....and you will have more money than you could ever imagine.