[Finance] The cryptocurrency (Bitcoin etc) thread
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GloryDays
Well-known member
Hi everyone,
I'm a bitcoin / crypto JCL and I have no idea what I'm doing.
Apart from not shelling out £1000s of GBP off the bat, can anyone suggest any beginner reading / youtube / podcasts to get up to speed on the basics?
I put it off for years and eventually in May when it took a dip I put about £500 in to a few cryptos using coinbase. When I check it I seem to be up averagely around 20%, which seems to be pretty good. I'm usually risk averse with finance and happy to be in for the longhaul. This is all peanuts I know, but when I feel more equipped to do so I'd like to invest more. Currently just feels like I'm putting it on red or black though so any tips, currencies to keep an eye on or currencies to avoid would be really helpful.
At the moment I have a fairly even spread over BTC, ADA, ETH, LINK. Then I tried to be clever and moved my LUNA and SOL to USDC while they were high, thinking I could get ahead of a downturn. And that's the peak of my trading. Not Wolf of Wall Street over here.
Cheers,
I'm a bitcoin / crypto JCL and I have no idea what I'm doing.
Apart from not shelling out £1000s of GBP off the bat, can anyone suggest any beginner reading / youtube / podcasts to get up to speed on the basics?
I put it off for years and eventually in May when it took a dip I put about £500 in to a few cryptos using coinbase. When I check it I seem to be up averagely around 20%, which seems to be pretty good. I'm usually risk averse with finance and happy to be in for the longhaul. This is all peanuts I know, but when I feel more equipped to do so I'd like to invest more. Currently just feels like I'm putting it on red or black though so any tips, currencies to keep an eye on or currencies to avoid would be really helpful.
At the moment I have a fairly even spread over BTC, ADA, ETH, LINK. Then I tried to be clever and moved my LUNA and SOL to USDC while they were high, thinking I could get ahead of a downturn. And that's the peak of my trading. Not Wolf of Wall Street over here.
Cheers,
Barnet Seagull
Luxury Player
Read, read and read. Dont invest/gamble without understanding exactly what you're investing in.
beorhthelm
A. Virgo, Football Genius
- Jul 21, 2003
- 36,014
Coin Bureau on youtube is one of the better channels, gives information without hubris or trying to pitch their referral accounts, has beginner videos. though you're probably doing it right with 6 mentioned already. you're not going to learn much from youtubers beyond that, unless you want to chase "next big thing" or trading, where time in market is most valuable.
GloryDays
Well-known member
Thanks BS. Will def proceed with caution. Any particular impartial go-to places? I was reading an interesting piece about something called Alchemy Pay and thought it sounded good. But then realised it was written by the ppl at Alchemy Pay.
Barnet Seagull
Luxury Player
Firstly I go to the official website of the coin and read what the coin is about.
I then look at Weiss to get a independent view of how established it is. I started with mostly established coins then once I got a feel for markets and products, i found a few more.
Then it's multiple sources, there is no one place.
I dont pretend to understand a lot of projects as I'm not a finance guy, so I steer clear of things I dont understand. The infrastructure areas are my strength but many on here know the finance area well.
I also continually look to de-risk my portfolio, taking a punt on new projects in my space which have long term potential.
If i were a beginner, I'd really look to understand a single project first.
That understanding will help massively in understanding other projects. It also ought to reduce your risk.
As an example, I know ETH well and have held for a good time. The main problem with it is the gas fees. To de-risk ETH, I then looked at projects which aimed to solve this problem. I then read and took a stake in ADA and DOT. When looking at them, i saw some more challenges, so looked at projects to fill those gaps too.
I dont think this is normal btw, its just my process, I am very cautious.
The only other advice is to get your original stake out as soon as you can. Losing profits is much easier than losing your hard earned cash.
I then look at Weiss to get a independent view of how established it is. I started with mostly established coins then once I got a feel for markets and products, i found a few more.
Then it's multiple sources, there is no one place.
I dont pretend to understand a lot of projects as I'm not a finance guy, so I steer clear of things I dont understand. The infrastructure areas are my strength but many on here know the finance area well.
I also continually look to de-risk my portfolio, taking a punt on new projects in my space which have long term potential.
If i were a beginner, I'd really look to understand a single project first.
That understanding will help massively in understanding other projects. It also ought to reduce your risk.
As an example, I know ETH well and have held for a good time. The main problem with it is the gas fees. To de-risk ETH, I then looked at projects which aimed to solve this problem. I then read and took a stake in ADA and DOT. When looking at them, i saw some more challenges, so looked at projects to fill those gaps too.
I dont think this is normal btw, its just my process, I am very cautious.
The only other advice is to get your original stake out as soon as you can. Losing profits is much easier than losing your hard earned cash.
beorhthelm
A. Virgo, Football Genius
- Jul 21, 2003
- 36,014
as an alternative, i degen in to a token on suggestion of a youtuber or tweet. works in bull markets, not so much on the other side 
End of June I tipped Alliance Block ALBT at 24p and it closes August on 64p having been over 80p. It is by no means finished and there are staking opportunities in the 25-30% p.a. range. The hardest part with this one, is finding it listed on exchanges, which surely won't be a problem for much longer. The roadmap looks fantastic.
Next one I will tip is FETCH.AI (FET). Currently at 48p and pushing to go a lot higher. When you look at the customers they are working with (I don't mean Tech partners here) and the breadth of their offerings, the future looks very interesting indeed. this is another one to invest some time in learning how to stake. The APY is coming down now and is currently 24.66% through the cosmos station mobile wallet, but there are ZERO gas fees this year, which makes it easy to compound the interest. they are demoing a parking solution at a trade show in Munich next week, which I think will impress a lot of people.
Both of these companies have UK/European execs and offices.
Next one I will tip is FETCH.AI (FET). Currently at 48p and pushing to go a lot higher. When you look at the customers they are working with (I don't mean Tech partners here) and the breadth of their offerings, the future looks very interesting indeed. this is another one to invest some time in learning how to stake. The APY is coming down now and is currently 24.66% through the cosmos station mobile wallet, but there are ZERO gas fees this year, which makes it easy to compound the interest. they are demoing a parking solution at a trade show in Munich next week, which I think will impress a lot of people.
Both of these companies have UK/European execs and offices.
The main thing is to only invest funds that you are prepared to lose and consider it as a bit of fun much like gambling on the footy.
I was holding SOL for months watching it ping pong between £40 and $25. As you have done I decided to move it to USDC at $40 to cash-in before the next drop and it has since sailed up to $120. I've now given in and bought it again.
You just have to take it on the chin when that happens but if you stick to that mindset it should prevent you from throwing your computer out of the window
Marshy
Well-known member
HOLD long term its the only way, have patience and wait for your token/coin to pop, It will. Then take your profits.
Trying to be a trader is asking for trouble, even people doing it for years make huge mistakes.
Trying to be a trader is asking for trouble, even people doing it for years make huge mistakes.
GloryDays
Well-known member
The main thing is to only invest funds that you are prepared to lose and consider it as a bit of fun much like gambling on the footy.
I was holding SOL for months watching it ping pong between £40 and $25. As you have done I decided to move it to USDC at $40 to cash-in before the next drop and it has since sailed up to $120. I've now given in and bought it again.
You just have to take it on the chin when that happens but if you stick to that mindset it should prevent you from throwing your computer out of the window
WOAH. Yeah, I buckled immediately tho and moved to back when it was £65, but I've not got anything riding on it really. A steep learning curve and like you say, it's just a bit of fun. I'm just gonna hold my nerve unless I'm feeling really bold.
I actually had a dream I checked it and my portfolio was worth 4,000,000, but it turned out I changed my home currency to Hungarian Pengo or something and was still peanuts. Funny dream tho.
We all are. Just stay away from leverage, don't day trade or chase pumping coins & hold 2/3 coins from projects that you've researched and have a decent knowledge of.
Oh, and whatever you do don't buy DOGE. Or anything that Elon Musk says is good.
banjo
GOSBTS
Finally things are on the move.
What have you been waiting on to start moving? August looked pretty good all round and there are plenty of people very bullish for the next three months.
banjo
GOSBTS
Small investment in ETH
It's looking good from here.
Barnet Seagull
Luxury Player
on the edge of $4k. I've put a stop loss in just in case there are some large movements.
A good weekend for me, with big moves on Quant and ALBT. Now Bitcoin looks like it wants to go on a run, having broken through 51K USD. Are things about to get very interesting?
Tyrone Biggums
Well-known member
Finally my UMA moved up.
Welcome back buddy.
Welcome back buddy.
Probably just a couple of ponzi schemes, nothing to see here.
Quant
https://allianceblock.io/roadmap/
Change is coming. You can embrace change or you can let change happen to you and that may not be a good thing.
Quant
https://allianceblock.io/roadmap/
Change is coming. You can embrace change or you can let change happen to you and that may not be a good thing.
