| Topic: A dip into the cryptocurrency market |
|---|
| 41. Author: parsmad68 Date: Fri 21st May 2021. 08:12 Most importantly after the experiment is complete, will you be able to buy your season ticket in Bitcoin? If you make a profit at the end of you experiment, do you have a plan for the next step or is it Pina colada’s for you? Reply |
| 42. Author: OzPar Date: Fri 21st May 2021. 11:05 Of course, there is a `next step`, Parsmad 68. But let`s not spoil the fun. The experiment has a fair way to run yet. :) Reply |
| 43. Author: parsmad68 Date: Fri 21st May 2021. 19:33 OzPar, Fri 21 May 11:05 You should write an article to a paper of your experiences. Reply |
| 44. Author: LochgellyAlbert Date: Sun 23rd May 2021. 20:12 Need your tin hat on just now!🤔🥶🤯🤮🙏 Reply |
| 45. Author: jake89 Date: Mon 7th Jun 2021. 17:27 Interesting to see a naughtily names cryptocurrency skyrocket after some tweets from Elon Musk. All seems very dodgy to me. He causes a drop in one currency as he claims it's not environmentally friendly then appears to endorse one with fairly sketchy links to the adult film industry? I realise all sorts of releases can result in price changes but this seems very iffy. Reply |
| 46. Author: jake89 Date: Mon 7th Jun 2021. 17:27 Interesting to see a naughtily names cryptocurrency skyrocket after some tweets from Elon Musk. All seems very dodgy to me. He causes a drop in one currency as he claims it's not environmentally friendly then appears to endorse one with fairly sketchy links to the adult film industry? I realise all sorts of releases can result in price changes but this seems very iffy. Reply |
| 47. Author: jake89 Date: Mon 7th Jun 2021. 17:28 Interesting to see a naughtily names cryptocurrency skyrocket after some tweets from Elon Musk. Reply |
| 48. Author: jake89 Date: Mon 7th Jun 2021. 17:28 Interesting to see a naughtily names cryptocurrency skyrocket after some tweets from Elon Musk. Reply |
| 49. Author: oakley_pars Date: Tue 24th Aug 2021. 17:21 Rather enjoyed reading and following this thread. What are the latest updates on this? it only takes one tree to make a thousand matches, it only takes one match to burn a thousand trees Reply |
| 50. Author: LochgellyAlbert Date: Tue 24th Aug 2021. 20:03 After a big dip they seem to be on an upwards trend just now, slowly rising! Reply |
| 51. Author: red-star-par Date: Tue 24th Aug 2021. 22:28 Surely nations and big banks will do something to put a stop to some of these crypto currencies soon. Its not really credible as a currency to hold for any length of time when the tweets of a billionaire can cause its value to fluctuate so wildly. With the effect of Bitcoin mining on the planet it can't be allowed to continue Having said that I'm still sticking with Ethereum for now and Coincillium Reply |
| 52. Author: LochgellyAlbert Date: Tue 24th Aug 2021. 23:25 A few bob on Ethereum along with XRP, awaiting result of court case in USA affecting the latter. Doge seems to be a bit of a waste of time, some making big profits from ADA! Reply |
| 53. Author: desparado Date: Fri 27th Aug 2021. 13:11 Dipped my toe in for the first time in mid July, Bought Ethereum and ADA and had a 4k gain in four weeks. Fallen back now.... I am just letting it roll hoping that the trend continues upwards. Tempted to pile in again at the next crash.........mmm? What an opportunity we missed in 2014. Reply |
| 54. Author: LochgellyAlbert Date: Fri 27th Aug 2021. 18:47 ADA well up today! Reply |
| 55. Author: OzPar Date: Fri 27th Aug 2021. 20:58 Thanks for the reminder, oakley pars. Well, here we are, just over six months into the experiment now, and I can reveal the Half-Yearly figures. I launched this portfolio on 11 February, splitting the investment into $600 with Bitcoin, $600 with Doge, $100 in a basket of the top 10 capitalised coins, and $50 each on a couple of “randoms” that were climbing fast on the day – IOTA and Crypto.com. So, where is my $1,400 today? Bitcoin... $594 (-$6) Doge.... $2,487 (+$1,887) IOTA......$39 (-$11) Crypto....$37 (-$13) Basket....$256 (+$156) TOTAL.....$3,413 (+$2,013) When all is said and done, I could cash my $1,400 out today for $3,413. That is a profit of more than $2,000, or 244% in just six months. Spread over a year, we are looking at an annual interest rate of 488%... Phenomenal numbers, but the capitalist pig in me says if I had gotten out on 9 May, when the value of my portfolio hit its peak, I would already have made more than five times my initial investment... Clearly, Doge continues to be the star performer, more than quadrupling in value. Within the basket of ten cryptocurrencies, the star performers were Cardano, which has doubled in value, and Etherium, which has increased 50%. So what are my impressions of crypto as an investment six months on? Well, first, let`s stick to cold hard facts. Had I put my $1,400 into a 6-month term deposit account at my bank, I would have received an interest rate of 1.20%. Today, the value of my account would stand at $1,416.80... On the face of it, the $3,413 balance in cryptocurrency today looks sensational. However, a word of caution... Take a closer look at those half-yearly figures, and what do you notice? Take away Doge, and there`s a fair quantity of minuses. Indeed, within the basket of the top 10 capitalised cryptos, only four showed a nominal profit over the six months. If you were to subtract my $600 investment in Doge, the net $800 investment would today be worth $926. In other words, my portfolio would have gained 15.75%... So, just like the stock exchange or even gambling, ultimately, everything depends on what horse you decide to back. I suppose I would argue that were it not for all the hype about Doge early in the year, I very much doubt that I would have started this experiment in the first place. Anyway, the experiment continues. Let`s see where the next six months take us... Post Edited (Fri 27 Aug 21:04) Reply |
| 56. Author: desparado Date: Tue 31st Aug 2021. 21:51 In little over a month … CRO, up 18% Ethereum up 28% ADA up 106% BCH up 16% Ripple up 57 % Cant complain…….Better than sitting in the bank an ISA or a pension fund for sure….. What an opportunity we missed in 2014. Reply |
| 57. Author: londonparsfan Date: Tue 31st Aug 2021. 22:46 I've not been following the crypto markets as I don't have any spare cash to invest but I thought Ripple was in a bit of bother after being touted as the next big thing. Is it on a come back or is that just a short term bounce? Reply |
| 58. Author: LochgellyAlbert Date: Wed 1st Sep 2021. 09:44 londonparsfan, Tue 31 Aug 22:46 Waiting on decision from USA regulators regarding its status, meanwhile it has been withdrawn from US markets. Decision not expected till next year, so very speculative just now! Reply |
| 59. Author: londonparsfan Date: Sat 4th Sep 2021. 14:31 Cheers LA! Reply |
| 60. Author: desparado Date: Tue 21st Sep 2021. 22:37 Wipe out ! Took a profit a couple of weeks ago , then watched what I had left plummet. Just bailed out and sold what I had left for a loss ( after taking profit ) so I am a couple of hundred quid up overall. Should have sold the lot first time but don’t have a crystal ball. Of course I could have just sat tight and waited for the rebound. Will go back in again when this has bottomed out….guessing where the bottom will be is the tricky part……’ There must be millions of Investors worldwide who like me were smiling only three weeks ago and have now lost a load. I took my eye of the ball as I am not one for following the markets per say. There are so many so called experts out there all giving conflicting advice. Anyway I have learned a thing or two recently and luckily not lost anything. I could have made a decent profit if I had sold it all at the time. I have a friend in the US who sold his Bitcoin many years ago after a similar crash and he swears he would have been a multi millionaire if he had kept his original coins…….not for the faint hearted this game that’s for sure. I will be back for another punt……..when? Who knows? What an opportunity we missed in 2014. Reply |