| Topic: A dip into the cryptocurrency market |
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| 81. Author: The One Who Knocks Date: Tue 2nd Nov 2021. 09:03 As far as bitcoin goes none of us will be alive to see it hit its max. And although my eyes were open They just might as well be closed Reply |
| 82. Author: aaaaaaaaaargh Date: Tue 2nd Nov 2021. 13:48 That is true, but mostly because we will all be fried because of the CO2 generated by pointless bitcoin mining. If someone had told me 10 years ago that mining could destroy the planet I would have assumed it would be coal mining and not this nonsense. Reply |
| 83. Author: ipswichpar Date: Tue 2nd Nov 2021. 17:05 Interesting Dispatches last night where economists/lawyers were making the point that our economic approach is killing us. Case and point with generating some weird non physical coins which suddenly are worth a lot of money. Reply |
| 84. Author: GG4 Date: Tue 2nd Nov 2021. 21:46 Topic Originator: red-star-par like | nolike Date: Wed 27 Oct 13:49 Shiba Inu has been one I recently had a flutter on, trebled my money in a couple of weeks. Some decent gains today on that. It is a gamble though, don`t put your money in to crypto unless you are prepared to lose it [IP address logged] Report Abuse Reply To This Red star what app do you use if you don`t mind saying please? Reply |
| 85. Author: OzPar Date: Wed 3rd Nov 2021. 11:17 The Commonwealth Bank of Australia will allow its customers to buy and sell cryptocurrency through its app, in the first move of its kind by a major Australian bank. Australia’s largest bank announced on Wednesday it had partnered with US-based crypto exchange Gemini and blockchain analysis firm Chainalysis to offer the service to its 6.5m CommBank app users. Customers will be able to buy up to 10 crypto assets including bitcoin, Ethereum and Litecoin. The bank will conduct a pilot in the next few weeks, ahead of a wider launch in 2022. “We believe we can play an important role in crypto to address what’s clearly a growing customer need and provide capability, security and confidence in a crypto trading platform,” CBA’s chief executive Matt Comyn said in a statement. The bank said research on its customers found many had either expressed interest in crypto assets, or were already trading crypto through exchanges. Reply |
| 86. Author: DBP Date: Wed 3rd Nov 2021. 13:07 Who will be the custodian Oz? Much better to self custody in my opinion Reply |
| 87. Author: red-star-par Date: Wed 3rd Nov 2021. 17:59 GG4, Tue 2 Nov 21:46 Coinbase, it's a really simple app, and you can buy and sell quickly. The first time I had to link it to my bank account however, it did take a few tries to go through, mostly as Halifax thought there was some fraudulent activity on my account. A couple of text messages from the bank to confirm it was me and a 10 minute delay sorted it though Reply |
| 88. Author: GG4 Date: Wed 3rd Nov 2021. 19:01 Thanks Red Star. Appreciated. Reply |
| 89. Author: Bigfoot Date: Thu 11th Nov 2021. 14:10 Thanks for the updates OZPar - your posts were enough to get me to invest in Crypto. I opted for an unknown currency and am currently showing a $120 loss on an $800 initial investment. For now I am keeping my nerve, and hoping it will rise at some point. I think I`ll split this into the safer "BTC" and take a punt on the the rest. AS everyone has said - it`s a bit of a lottery buying unknown and I can`t highlight enough only invest what you are prepared to lose. Jesus saves, but Kirk nets rebound Reply |
| 90. Author: DBP Date: Thu 11th Nov 2021. 15:39 I would touch anything other than bitcoin and be sure to self custody!!! Reply |
| 91. Author: OzPar Date: Mon 11th Dec 2023. 12:48 I have been searching for this thread, not realising how old it is. I finally located it today. It is hard to believe I started this back in March 2021. I had pretty much forgotten about it. Anyway, that`s 2 years and 9 months since I stuck $1,400 into crypto-currency, how much is it worth today? I split 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. The answer is that today my portfolio is worth $2,074. That`s a gain of $674 over 33 months, which I estimate to be about 17.5% annual growth. Here are today`s values. Bitcoin............. $871 Doge............... $959 Top 10............. $203 IOTA................ $41 Crypto.com....... zero If I had stuck that $1,400 in a local bank deposit account, I would be doing well if I earned $100 in interest over 33 months. I think it is fair to say this has been an interesting and worthwhile experiment. Reply |
| 92. Author: Bigfoot Date: Mon 11th Dec 2023. 13:23 Thanks Oz - I was looking for your post and hoping for an update. I unfortunately bought pretty much at the peak in Septemebr 2022 - only for it to fall drastically. My numbers have been mindlowingly in the red. I`ve then invested toward the lower end of the trough and benefitted from the recent rally. As it sits today, my numbers on the board are as follows Bitcoin -21.5% Doge -67.6% Celo -23.5% Mana -43.55% Filecoin - 47.51% EOS - 55.34% FTT +5.55% Matic -58.23% ANkr - 60.31% REN - 50.57% Fantom -72.7% Believe it or not these are not the worst numbers - they used to sit at around -80% and worse! Clearly I am in it for the long haul - but won`t be retiring on those numbers - I can only re-emphasise crypto to is a a total gamble. Enjoy th eride and be prepared to lose your shirt! Jesus saves, but Kirk nets rebound Reply |
| 93. Author: OzPar Date: Mon 11th Dec 2023. 13:44 Yes Bigfoot, those are shocking numbers on first view. I note that I have two coins in your portfolio - Bitcoin and Doge. Where you show sizeable drops with those coins, I show sizeable rises. So, the issue is timing. As you say, September 2022, when you entered, was a peak. Hopefully, your numbers will markedly improve given a bit of time and, doubtless, patience. I agree that crypto is a gamble, and the message to everyone is don`t bet the house. Be prepared to view it long term. Reply |
| 94. Author: LochgellyAlbert Date: Mon 11th Dec 2023. 14:32 Still waiting on XRP rocketing!😎 Reply |
| 95. Author: DunfyDave Date: Wed 13th Dec 2023. 07:56 A very interesting read OZ and thank you for all your interesting posts. Great read. I have been following your experiment with interest. I have not invested in any crypto myself for fear that it does not have the support and backing of most countries. It is not widely used as a currency (buying/selling goods) that lubricates the economy but seen more as an investment to hold until you can find someone to buy it from you at a higher price. A currency has to work for the economy. It`s lubrication for the engine. In my opinion, eventually the market will become more saturated with coins made from fresh air that will never be spent on goods and the investors will become fewer causing the mother of all crashes. Crypto obviously is not for everyone and a bit too risky for me. I have studied Warren Buffets style and disciplined myself to buying quality shares at a reasonable price. Over the past 6 years I have drip-fed a set amount each month in roughly 30 shares and funds primarily in UK, USA and Europe and have an unrealised profit of around 50% which I am relatively happy with considering the storms of Brexit, Covid and Vladimir Putin Please keep posting. I am very keen to read of your progress. DunfyDave Reply |
| 96. Author: DBP Date: Wed 13th Dec 2023. 12:57 Being able to spend it is an issue right now that gov etc will not want you to be able to do as they lose sight/tax… but nothing to stop you offering to pay that way if the vendor or supplier interested which could easily then go as undeclared My only advice is to self custody-do not leave your crypto on an exchange or even software wallet on your machine So by self custody I mean, but an offline hardware wallet (eg https://amzn.eu/d/0pquiiy as move your bitcoin to it - then store that securely. Keep your recovery code elsewhere (offline) should you lose your hardware wallet Reply |
| 97. Author: desparado Date: Thu 14th Dec 2023. 14:22 With Crypto you basically have two choices…..one buy and hold and hope that over a significant period of time you will see a good profit, bearing in mind that during a bear market the value of most Alt coins can drop as much as 90% ! And yes keep it in a hard wallet. Or two you can trade which means keeping and eye on the market, and buying/selling on a daily/ weekly basis, which we can say is not for the faint hearted as the swings can be considerable especially during a bull run which by the way we are just starting now….if you are trading then better to set a profit/loss limit. I tried this a couple of years ago and did ok but it was starting to consume a lot of my spare time and hardly an hour went past without me checking the prices. You will most certainly miss a huge crash at some point and see a good chuck of your profit vanish in an instant ….’.that’s why it’s prudent to set up the profit/loss limit. I am just hodling my coins just now as we are entering a bull run…..I think…..just now and with the bitcoin halving due early next year this usually signals a rise in value of BTC and indeed most Alt coins. If anyone is thinking of dipping their toe in the water then now is as good a time as any…… What an opportunity we missed in 2014. Reply |
| 98. Author: desparado Date: Thu 11th Jan 2024. 14:59 Topic Originator: desparado Date: Thu 14 Dec 14:22 With Crypto you basically have two choices…..one buy and hold and hope that over a significant period of time you will see a good profit, bearing in mind that during a bear market the value of most Alt coins can drop as much as 90% ! And yes keep it in a hard wallet. Or two you can trade which means keeping and eye on the market, and buying/selling on a daily/ weekly basis, which we can say is not for the faint hearted as the swings can be considerable especially during a bull run which by the way we are just starting now….if you are trading then better to set a profit/loss limit. I tried this a couple of years ago and did ok but it was starting to consume a lot of my spare time and hardly an hour went past without me checking the prices. You will most certainly miss a huge crash at some point and see a good chuck of your profit vanish in an instant ….’.that’s why it’s prudent to set up the profit/loss limit. I am just hodling my coins just now as we are entering a bull run…..I think…..just now and with the bitcoin halving due early next year this usually signals a rise in value of BTC and indeed most Alt coins. If anyone is thinking of dipping their toe in the water then now is as good a time as any…… As I said ……big gains today. It will continue…. With dips of course until bit coin halving in April then 🚀 What an opportunity we missed in 2014. Reply |
| 99. Author: OzPar Date: Wed 14th Feb 2024. 11:40 We`re now 35 months into this little project, and crypto still holds up quite well. There`s been a bit of a climb in the past five or six days, and my portfolio sits at $2,182, which is more than a $100 rise from when I last reported two months ago (when it sat at $2,074). Here are today`s values with the change from December 11 in brackets: Bitcoin............. $1,070 (+199) Doge............... $814 (-145) Top 10............. $256 (+53) IOTA................ $42 (+1) Crypto.com....... zero Reply |
| 100. Author: Buspasspar Date: Wed 14th Feb 2024. 11:58 This time next year Rodney :-) We are forever shaped by the Children we once were Reply |