[Finance] The cryptocurrency (Bitcoin etc) thread

[warmleyseagull]

Dutch tulips.

 

[Albion Dan]

Dutch tulips.

[emoji23]

 

[Albion Dan]

Bitcoin price

if Ripple were in deep with the banks, this action wouldnt be happening. they have their tech being trialled with a few banks, which doesnt need the token. there is a scenario where Ripple could settle and continue operations, while XRP is found to be a security. it would continue but remain off major exchanges, where dealing securities comes with a lot of regulation. the downside risks are considerable, especially compared to so many other tokens in the market without this hanging over them. be better if Ripple listed and we could buy shares, that would be a solid investment.

I think it’s unlikely the judgement goes against them. Even if it does xrp is likely going up a lot until that point. Simple risk management is to put a stop loss in just before the announcement, if it goes the wrong way and drops you’re covered. If it’s good news parabola time. No lose scenario imo if you got in at good levels.

 

[Ⓩ-Ⓐ-Ⓜ-Ⓞ-Ⓡ-Ⓐ]

I think it’s unlikely the judgement goes against them. Even if it does xrp is likely going up a lot until that point. Simple risk management is to put a stop loss in just before the announcement, if it goes the wrong way and drops you’re covered. If it’s good news parabola time. No lose scenario imo if you got in at good levels.

What platform would you recommend for having a bit more of dabble in crypto? I have a coinbase account with around £100 invested in bitcoin, etherium, cadano and lightcoin. Going up nicely at the moment. I'd like to have a go on some of the new alt coins, but coinbase doesn't support many. Also, I'd only be looking to invest £20-£50 at a time so not looking for something that has large transaction fees. Cheers!

 

[Albion Dan]

Bitcoin price

-Ⓞ-Ⓡ-Ⓐ;9815792]What platform would you recommend for having a bit more of dabble in crypto? I have a coinbase account with around £100 invested in bitcoin, etherium, cadano and lightcoin. Going up nicely at the moment. I'd like to have a go on some of the new alt coins, but coinbase doesn't support many. Also, I'd only be looking to invest £20-£50 at a time so not looking for something that has large transaction fees. Cheers!

I’d say Binance is probably your best bet. Has a really large coverage of major alt coins. Also allows purchase direct from £ and exchange back to GBP via your card.

 

[Wrong-Direction]

You're basically gambling, only do it if you can afford losing what you put in.
I know of people that have lost thousands due to scammers.

Sent from my SM-A715F using Tapatalk

 

[Albion Dan]

You're basically gambling, only do it if you can afford losing what you put in.
I know of people that have lost thousands due to scammers.

Sent from my SM-A715F using Tapatalk

It’s 100% gambling. Isn’t that what all share trading is?

 

[driller]

Xrp having a bit of a surge.

 

[Bedsex]

Xrp having a bit of a surge.

It does seem to keep going up at the moment, this could be some speculation ahead of a decision in respect of the SEC legal action. I’m therefore wondering when the right time is to jump off. If the recent increase is on the expectation of a favourable decision, then surely it will plummet if the courts decide unfavourably. If the courts find favourably, then isn’t this good news already baked in to the price? It probably therefore makes sense to sell soon, but I’ve not got much invested, so I think I’ll hang on for the ride! Although my small investment is now worth 450% of what it was in January!

 

[beorhthelm]

It does seem to keep going up at the moment, this could be some speculation ahead of a decision in respect of the SEC legal action. I’m therefore wondering when the right time is to jump off. If the recent increase is on the expectation of a favourable decision, then surely it will plummet if the courts decide unfavourably. If the courts find favourably, then isn’t this good news already baked in to the price? It probably therefore makes sense to sell soon, but I’ve not got much invested, so I think I’ll hang on for the ride! Although my small investment is now worth 450% of what it was in January!

exactly, buy the rumour, sell the news. as noted run some stop loss, adjusting after each rise as this could collapse after any small negative story.

Coinbase IPO listing tomorrow is pumping Bitcoin and others generally (nice gains on BNB and 1Inch ). will be a big indicator for real values of crypto.

 

[BHAboi]

Am thinking there could be a sell off tomorrow on the Coinbase listing as everything in the green today.. what are other ppl's thoughts? Maybe time to lock in my XRP gains then rebuy!

 

[Sheebo]

I ignored the sensible advice of those on this thread as you only live once and may as well gamble and we bought £2k of various coins. Was £100 down yesterday now £40 or so up. Worst case is essentially leave it in there and can’t see more than £500 being lost. I have:

Bitcoin
Harmony
Holo
V chain
Enjin

Still don’t really know what I’m doing but will leave it in for a while and see I think. Aim is to make enough profit to buy one Ethereum at about £1700 and sit on that as tip reckons it could be worth £120k in 3-4 years’ time but prob bollocks.

 

[Albion Dan]

Its a possibility although any correction likely to be short lived. If you can deal with the emotion sometimes just better to ride the waves until we're at the proper cycle top. If id sat on my hands rather than trying to time exits and re entries id 100% have more crypto than I do today. Much better at it now!

 

[peterward]

I ignored the sensible advice of those on this thread as you only live once and may as well gamble and we bought £2k of various coins. Was £100 down yesterday now £40 or so up. Worst case is essentially leave it in there and can’t see more than £500 being lost. I have:

Bitcoin
Harmony
Holo
V chain
Enjin

Still don’t really know what I’m doing but will leave it in for a while and see I think. Aim is to make enough profit to buy one Ethereum at about £1700 and sit on that as tip reckons it could be worth £120k in 3-4 years’ time but prob bollocks.

They're all still pretty high cap coins, so a lot of the appreciation has already happened. Ethererum will hit 10k in the future imho (5x where it is now) once the upgrade happens. Its the microsoft or apple on which tons of other stuff is built. Having bitcoin is always sensible, but the biggest gains are in getting in on the ground floor of promising new projects, not 18 floors up.

 

[beorhthelm]

I ignored the sensible advice of those on this thread as you only live once and may as well gamble and we bought £2k of various coins. Was £100 down yesterday now £40 or so up. Worst case is essentially leave it in there and can’t see more than £500 being lost. I have:

Bitcoin
Harmony
Holo
V chain
Enjin

Still don’t really know what I’m doing but will leave it in for a while and see I think. Aim is to make enough profit to buy one Ethereum at about £1700 and sit on that as tip reckons it could be worth £120k in 3-4 years’ time but prob bollocks.

good picks (have them all). dont watch the daily movements other than out of interest, you will be up/down 20% on days, enjoy the ride.

odd comment you mention wanting to buy 1 ETH for x, when you have no problem with buying x amounts regardless of unit price. the price is meaningless, aside some psychological factors, its all about the marketcap and what the coins can do relative to the market. I wouldnt look beyond this cycle/year for values.

 

[Marshy]

They're all still pretty high cap coins, so a lot of the appreciation has already happened. Ethererum will hit 10k in the future imho (5x where it is now) once the upgrade happens. Its the microsoft or apple on which tons of other stuff is built. Having bitcoin is always sensible, but the biggest gains are in getting in on the ground floor of promising new projects, not 18 floors up.

Providing ethererum sort the gas fees out they will be in a good space

I would be a tad concerned if I was a Bitcoin or ether holder simply on the green element of the tokens

 

[CheeseRolls]

Providing ethererum sort the gas fees out they will be in a good space

I would be a tad concerned if I was a Bitcoin or ether holder simply on the green element of the tokens

Regardless of what you are holding, I would recommend keeping an eye on Tether and Bitfinex. I think there is more than a whiff of scandal there and if anything is going to bring things crashing down a liquidity issue for an exchange/stable coin issuer, would be a nasty shock in an unregulated market.

 

[peterward]

Regardless of what you are holding, I would recommend keeping an eye on Tether and Bitfinex. I think there is more than a whiff of scandal there and if anything is going to bring things crashing down a liquidity issue for an exchange/stable coin issuer, would be a nasty shock in an unregulated market.

They already had that bun fight with the US SEC, just resulted in an 18 million fine.

Regulation is where it will head and is the case already for a lot of the institutional investors, like the investment banks and hedge funds investing in Bitcoin through Michael Saylors greyscale (microstrategy) which only buys through regulated mediums like coinbase etc

This decentralised utopia of new money overtaking the old money banking systems wont happen imho, but digital money will become the new normal...... money aside blockchain/public ledger tech has many massive efficiency gains and the tech is here to stay

 

[CheeseRolls]

They already had that bun fight with the US SEC, just resulted in an 18 million fine.

Regulation is where it will head and is the case already for a lot of the institutional investors, like the investment banks and hedge funds investing in Bitcoin through Michael Saylors greyscale (microstrategy) which only buys through regulated mediums like coinbase etc

This decentralised utopia of new money overtaking the old money banking systems wont happen imho, but digital money will become the new normal...... money aside blockchain/public ledger tech has many massive efficiency gains and the tech is here to stay

They are literally printing and distributing money. This is supported by a statement from some accountants in the Cayman Islands that they have 35 billion in assets to back this. This is not audited and it is not clear how much of this collateral is in bitcoin.

I am not advocating everyone dropping everything and running for the hills, but if you want to know where the high level risks are, this is a good place to start.

 

[wealdgull]

I would be a tad concerned if I was a Bitcoin or ether holder simply on the green element of the tokens

Ultimately any successful financial system will bring with it opportunities to make money by carrying out some sort of calculation. Blockchains will (at some stage) move away from proof of work to proof of stake, bringing energy usage closer to that of the traditional financial system, but it won't ever go away entirely.