[Finance] The cryptocurrency (Bitcoin etc) thread

[Knocky's Nose]

You’ve made quite a lot of bold predictions, I’m in agreement with you wrt shitcoins, they’re just the old penny stocks pump and dump scam all over again.

I’m far less certain that the Federal Reserve will just sit idly by and let the dollar implode, quite apart from anything else they’ll be under incredible pressure internationally to not let the de facto international currency crash and burn.

Looking at the charts, I’d say there’s quite an extended bull run in crypto been happening already, do you honestly think there’s more to come?

The Federal Reserve have hit a level of debt which is totally unsustainable. The interest alone is now as much as their whole military budget, and lets not forget they have the most well funded military in the western world..

In 10 years time their entire tax revenue won't cover the interest on their national debt. That's the equivalent of you and I having credit card debt to the level our whole monthly salary won't even cover the interest on our balance. They're sailing down the river to oblivion, and they absolutely know it - that's why they don't give a flying shite about their spending. It's now a free-for-all with the politicians, bankers and business elite furiously cashing in as fast as they can.

There's a lot of chat about the US economy crashing, hyper-inflation, internet going down, power outages, riots in the streets, food/water shortages etc. It's certainly a card they can play to get people to roll over and accept the 'new financial system' - but I'll give credit to the very sharp minds in the USA. I think they'll definitely have a plan. They've self-sabotaged for a reason. The sharpest minds knew they'd have about 100 years before it all went wrong. It's now about 110.

As for crypto being in an extended bull-run already, I think you're half right there. A lot of coins are up hundreds of percent already against the bottoms and I don't think the pumps will be all that spectacular compared to past bull-runs. As mentioned I think we've got one last 'wild west' where Pepe and all that crap goes loo-loo, then that'll be it. After that, it's the real crypto and digital assets which will garner investment from regulated investors. Many people don't seem to comprehend that there's Trillions on the sidelines looking to come into the space but they all have a fiduciary duty to their investors. In laymans terms that means the big fund managers can't invest in something which isn't properly regulated because if it all went wrong they'd be left holding the baby and all the lawsuits which came with it.

I'm not a seasoned crypto investor by any means, but I'm a very fast learner - and I do stupid amounts of research. What I've gathered is that Blockchain and 'real' crypto with utility is coming down the pipes. Patience is key, and I've got plenty of it. If you want to hop into crypto and make a fortune overnight you either need to be on the inside, a whale who can move markets - or just lucky.

 

[Super Steve Earle]

My £500 punt in Cardano originally rose to around £800 before crashing down to about £50. Now lurking around £220. I'd probably give up the ride and cash out if it ever revisited my original investment value.

 

[Berty23]

My big guess is that once it gets more than marginally beyond the previous all time high it will reach a new much higher peak. Then fall again. Yesterday afternoon looked like quite a big bump in the road.

I am still being lazy and letting SwissBorg do it all for me. They have bundles of different currencies they offer so it spreads the risk with zero effort. Small fee each month. I have a bit in their best blockchain, but in banter, bit in gaming and then some in gold. As I said it is zero effort.

I also still have some Electroneum from years ago. They are in the middle of a massive change to a new blockchain so might be interesting over the next few months.

It is all done for a bit of fun and profits hopefully pay my golf subs again.

 

[Ding Dong !]

Little knowledge of crypto and my go to is trading stocks and shares.

I did however dip my toe in with a small £1k "punt" into Bitcoin 18 months or so ago. Dipped to circa £700 at one point but now above £2K. I'll let it ride out as by all accounts 2025 and thereafter could be transformational. We will see.

 

[Marshy]

Bitcoin was only ever about the lambos, same as with all the other crypto casino chips. At least when they all go to zero, nothing of value will be lost

Still on this crusade THPP.... a heck of a lot of them will go to Zero for sure, but Crypto is here to stay, not only that everything will be tokenised and on a block chain. Everything of value.

 

[Marshy]

You’ve made quite a lot of bold predictions, I’m in agreement with you wrt shitcoins, they’re just the old penny stocks pump and dump scam all over again.

I’m far less certain that the Federal Reserve will just sit idly by and let the dollar implode, quite apart from anything else they’ll be under incredible pressure internationally to not let the de facto international currency crash and burn.

Looking at the charts, I’d say there’s quite an extended bull run in crypto been happening already, do you honestly think there’s more to come?

yes. The bull run for crypto has only just begun. Baring an event out of nowhere to crash everything, not just crypto.

 

[tstanbur]

My big guess is that once it gets more than marginally beyond the previous all time high it will reach a new much higher peak. Then fall again. Yesterday afternoon looked like quite a big bump in the road.

I am still being lazy and letting SwissBorg do it all for me. They have bundles of different currencies they offer so it spreads the risk with zero effort. Small fee each month. I have a bit in their best blockchain, but in banter, bit in gaming and then some in gold. As I said it is zero effort.

I also still have some Electroneum from years ago. They are in the middle of a massive change to a new blockchain so might be interesting over the next few months.

It is all done for a bit of fun and profits hopefully pay my golf subs again.

Yesterday afternoon was absolutely nothing in the grand scheme of things.

 

[sydney]

Bitcoin was only ever about the lambos, same as with all the other crypto casino chips. At least when they all go to zero, nothing of value will be lost

you're coming across a bit lean to be honest .

 

[chickens]

I’ve had a cheeky bet, staying true to my “it’s a speculation not an investment” cynicism.

£400 split equally across eight currencies. I will check in annually and see if anything’s happened, comparing notes with my ISA. I look forward to my 84,352% returns.

Please don’t leave it too long though, I’ve probably only got 15 years left before I’m being force fed cabbage soup in the nursing home. If all else fails, at least I’ve contributed to some other poor bugger being able to cash out.

 

[Berty23]

I’ve had a cheeky bet, staying true to my “it’s a speculation not an investment” cynicism.

£400 split equally across eight currencies. I will check in annually and see if anything’s happened, comparing notes with my ISA. I look forward to my 84,352% returns.

Please don’t leave it too long though, I’ve probably only got 15 years left before I’m being force fed cabbage soup in the nursing home. If all else fails, at least I’ve contributed to some other poor bugger being able to cash out.

SwissBorg do a think called “best blockchains” and they manage it all for you. Although might well be the same sort you use. Good luck. It is a gamble.

 

[CheeseRolls]

Look at that ponzi go

 

[chickens]

Look at that ponzi go
View attachment 178500

Yup, I’ve recouped my trading fees.

Come in all you greater fools, the water’s lovely.

 

[worthingseagull]

SwissBorg do a think called “best blockchains” and they manage it all for you. Although might well be the same sort you use. Good luck. It is a gamble.

the last 3 reviews on Trustpilot for Swissborg are a bit worrying aren't they ?

 

[beorhthelm]

Look at that ponzi go
View attachment 178500

will be second by end of this cycle, in mid-late 2025. with the alt market probably about same again.

 

[Rodney Thomas]

Little knowledge of crypto and my go to is trading stocks and shares.

I did however dip my toe in with a small £1k "punt" into Bitcoin 18 months or so ago. Dipped to circa £700 at one point but now above £2K. I'll let it ride out as by all accounts 2025 and thereafter could be transformational. We will see.

Very similar here. Split my small investment in a few coins 18 months ago which didn't all work out. Ended up just consolidating to bitcoin and eth as I'm too busy with family to trade and keep tabs on things.

 

[Berty23]

the last 3 reviews on Trustpilot for Swissborg are a bit worrying aren't they ?

Not seen them. What do they say?

I just went and looked. I wonder if they have a problem then because I have never had any issues. Always been instantaneous. I hope they are not going down the pan.

 

[chickens]

Well, I placed my little bet about a month ago. Let’s just say that my “holdings” are currently “worth” less than I paid for them.

However, like a gambler with their mechanism gone, I’m convinced that this next 12-24 months will be lifestyle defining, and make up for all the bad times endured.*

* I may not truly believe this.

I spent the first week slavishly tracking the data (number goes up, number goes down) which due to its 24h non-stop nature (like currencies) is quite addictive, but have gradually grown out of that, and now check in periodically to see if there’s been any major movement.

As to whether the current dip is a lull before number goes up, or a permanent crypto winter as the supply of greater fools dries up, who knows?

So far, exponential returns are yet to materialise, my stock market ISA is comfortably outperforming crypto. Quelle surprise.

 

[raymondo]

Well, I placed my little bet about a month ago. Let’s just say that my “holdings” are currently “worth” less than I paid for them.

However, like a gambler with their mechanism gone, I’m convinced that this next 12-24 months will be lifestyle defining, and make up for all the bad times endured.*

* I may not truly believe this.

I spent the first week slavishly tracking the data (number goes up, number goes down) which due to its 24h non-stop nature (like currencies) is quite addictive, but have gradually grown out of that, and now check in periodically to see if there’s been any major movement.

As to whether the current dip is a lull before number goes up, or a permanent crypto winter as the supply of greater fools dries up, who knows?

So far, exponential returns are yet to materialise, my stock market ISA is comfortably outperforming crypto. Quelle surprise.

I'm in the same club as you - I'll check it again in six months

 

[tstanbur]

Well, I placed my little bet about a month ago. Let’s just say that my “holdings” are currently “worth” less than I paid for them.

However, like a gambler with their mechanism gone, I’m convinced that this next 12-24 months will be lifestyle defining, and make up for all the bad times endured.*

* I may not truly believe this.

I spent the first week slavishly tracking the data (number goes up, number goes down) which due to its 24h non-stop nature (like currencies) is quite addictive, but have gradually grown out of that, and now check in periodically to see if there’s been any major movement.

As to whether the current dip is a lull before number goes up, or a permanent crypto winter as the supply of greater fools dries up, who knows?

So far, exponential returns are yet to materialise, my stock market ISA is comfortably outperforming crypto. Quelle surprise.

Can tell you're new to this. It's only been a month!

The "current dip" is completely normal and happened hundreds of times before.

The number goes up, the number goes down. But if you wait around long enough, the number goes up more.

Here's the monthly Bitcoin chart which may help.

If you'd invested in any of the seven months previous to when you did, you might have a different opinion.

You strike me as the type to focus on Potter's short-term poor run of results rather than the three and a bit seasons where we went from 17th to 4th!

 

[nicko31]

The world is just nuts...

The Obscene Energy Demands of A.I.

How can the world reach net zero if it keeps inventing new ways to consume energy?

www.newyorker.com