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| 121. Author: DBP Date: Thu 7th Mar 2024. 06:20 Yes you can, you can buy and sell crypto currencies like shares. However, it’s also like a currency as well, so similar to having pounds and pence in a mobile banking app. Eg I have a wallet with bitcoin in it, let’s say you were a tradesmen and I wanted you to do an old fashion ‘Homer’ for me. We could agree a price (and therefore Bitcoin equivalent) and I could send that amount over to your wallet when the job was done. Like cash, if I sent the money over via a bank app then it would be tracked, but if I gave you cash direct from my (offline anonymous cold) wallet and you put it in your similar wallet, then no one (tax man) would know… Think I said earlier, I’ve sent money over to Ireland and paid in Bitcoin (super easy, no trace, no foreign exchange costs, nobody’s business but my own) Post Edited (Thu 07 Mar 06:22) Reply |
| 122. Author: OzPar Date: Thu 7th Mar 2024. 21:39 Thanks for answering that question, DBP. As for the issue of selling before it dips, I have almost reached the point now, three years in, where I am reluctant to sell because I find the whole thing fascinating and would miss these dramatic ups and downs in my life. Isn`t that why we all support the Pars? :) As I have stressed, you only risk what you can afford to lose in crypto and avoid short-term trading unless you want a coronary. The recent rise ended on March 5th, peaking at $3,815 before going for a swim. It plunged to $2,979 by 7 a.m. the following day. However, by 11 o`clock that night, it had recovered to $3,424. Since then, it seems to have steadied around the $3,300 mark. If the portfolio remains hovering in that region, that is still a notable gain. It had been sitting in the $1,800-2,000 range through December and January. The whole idea behind this was to treat it as an experiment, to see if the dramatic claims were true or whether it was a modern form of Tulipmania. Tulipmania was a short-lived phenomenon; it lasted three years, about the same time we have been doing this experiment. Last time I checked, crypto had been around for over 15 years, so I am betting it is not Tulipmania. Reply |
| 123. Author: OzPar Date: Mon 11th Mar 2024. 20:39 Given that this experiment has reached its third anniversary, here are today’s figures compared to the original investment. I find it remarkable that this thread has now passed 70,000 views. MARCH 2021 Bitcoin……... $600 Doge………... $600 Top 10………. $100 IOTA………….. $50 Crypto.com… $50 TOTAL…………$1,400 MARCH 2024 Bitcoin……... $1,475 Doge………... $1,685 Top 10………. $386 IOTA………….. $57 Crypto.com… $00 TOTAL…………$3,603 Post Edited (Mon 11 Mar 20:40) Reply |
| 124. Author: DBP Date: Mon 11th Mar 2024. 21:47 I’ve bought £100 of Bitcoin in December through Revolut (ps never use Revolut to buy Bitcoin!) I use it as a barometer to easily calculate what my offline wallet will be worth… Anyway, my £100 in December, as of this moment is worth £178.75. Reply |
| 125. Author: DunfyDave Date: Mon 11th Mar 2024. 21:49 Top10 a clear winner % wise but DOGE raking in the OZ$ Cash in and enjoy the CastleMaine XXXX for your labours and toast your profits with a "Shoe`ey" whilst tossing another kangaroo on the barb`ey mate. That is some return. And a good exercise executed. Well done cobber 👍 DunfyDave Reply |
| 126. Author: JamesAndrew74 Date: Wed 13th Mar 2024. 07:27 DBP, Mon 11 Mar 21:47 I was thinking about Revolut, what’s the issue? Reply |
| 127. Author: Dave_1885 Date: Wed 13th Mar 2024. 08:47 I haven’t dipped into the crypto market but have a small number of shares in Rolls Royce through Trading 212 - hardest part is building a portfolio/bankroll to make it more profitable financially. So far the value has increased though! Reply |
| 128. Author: DBP Date: Wed 13th Mar 2024. 13:21 Hi, So it’s easy to buy through Revolut but they are a complete ball ache if you then try to move your Bitcoin to a different wallet - PS you don’t want to keep your holding on an exchange (so you must get your coins off Coinbase/Revolut/etc ideally into an offline cold wallet) They have quite small (£) daily/monthly transfer limits (which costs you a base fee each time) so you could find yourself (through ongoing investments and growth) having to make lots of paid transactions to move your holdings over several days and months to your own (self custody) wallet Post Edited (Wed 13 Mar 13:22) Reply |
| 129. Author: OzPar Date: Thu 14th Mar 2024. 20:50 The ABC here in Australia has done a pretty balanced report on Bitcoin`s pros and cons. It explains the issues quite well and highlights the system`s mechanics and the principles behind the controversial mining process. Anyway, you can judge for yourself; here is the link:- https://www.abc.net.au/news/2024-03-15/bitcoin-mining-cryptocurrency-outback-iren/103587552 Reply |
| 130. Author: Luxembourg Par Date: Tue 19th Mar 2024. 11:06 DBP, Wed 13 Mar 13:21 Care to give some insights on this pls? I have a small amount in Xapo bank, on which they pay interest… However, for them to be able to pay interest, they must surely be lending them out, or securitising on their value… risky?  Reply |
| 131. Author: DBP Date: Wed 20th Mar 2024. 19:02 Hey Lux Haven’t heard of them specifically, but sounds similar to company called Nexo who operate out of Romania - wouldn’t use them as same issue about re-lending. I’m sure there’s examples of a good proposition / model, but while there is a clear upward trend in value, there is a Bitcoin cycle of sharp increases and falls, during which there’s normally one or more of those types of companies over extends and doesn’t make it - so I’d rather not get caught work my erse hanging out the window! Reason I say get your Bitcoin off exchanges etc is because it’s always more secure and better to self custody, and for that to be offline and therefore completely unable to be hacked or stolen by bad agent, bad employee or bad management of the exchange Post Edited (Thu 21 Mar 07:20) Reply |
| 132. Author: Luxembourg Par Date: Thu 21st Mar 2024. 17:16 Yup - can you give an idiots guide to getting/storing an offline wallet? Reply |
| 133. Author: DBP Date: Thu 21st Mar 2024. 18:18 So you said you had a small amount… so that’s a relative statement but assuming it’s no more than a few thousand then something like this will do the job: https://amzn.eu/d/dhygptc I’m actually on holiday right now, in the highlands so I’ll look out a couple of tutorials from YouTube and send on If I’ve done that link correctly, it’ll take you to a thing called trezor one - like a fancy usb stick Post Edited (Thu 21 Mar 22:10) Reply |
| 134. Author: OzPar Date: Wed 10th Apr 2024. 23:56 Another month has gone by, and here`s where we are for April: Bitcoin 1471 (1475) -4 Doge. 1965 (1685). +280 Top 10. 410 (386). +24 IOTA. 47 (57). -10 Crypto.com. 0. (0). - TOTAL. $3893 ($3603) +$290 * March figures in brackets Bitcoin seems to have stabilised this month, while Doge continues on its merry way. Is Elon Musk quietly playing one of his games with Doge? Reply |
| 135. Author: DunfyDave Date: Thu 11th Apr 2024. 09:19 I love watching this thread Oz and thank you for the monthly report. I invest in roughly 25 stocks and 25 funds worldwide in the conventional stock market and also religiously prepare a monthly report to assess and analyse. You jumped an impressive 8% in one month whilst I only moved 5%. DunfyDave Reply |
| 136. Author: desparado Date: Fri 12th Apr 2024. 15:53 Topic Originator: Luxembourg Par Date: Thu 21 Mar 17:16 Yup - can you give an idiots guide to getting/storing an offline wallet? Trezor is what I use. No issues What an opportunity we missed in 2014. Reply |
| 137. Author: DBP Date: Fri 12th Apr 2024. 17:51 Apologies Forgot about I said I’d send a guide… There’s easy to follow videos on you tube from trezor… Did you get one in the end lux? If you did then will fish out and send over link Post Edited (Fri 12 Apr 17:51) Reply |
| 138. Author: DunfyDave Date: Fri 10th May 2024. 09:01 Hello Oz Patiently waiting your updates for this month. Be interesting to see your growth figures for April. I thoroughly enjoy your reports on your little experiment as I like to compare them to my investments which did rather nicely this last month at nearly 8% growth. Funnily enough my biggest mover is a company called Plus500 whom have daily been hitting record highs in excess of £22 per share. They are a trading platform for crypto. DunfyDave Reply |
| 139. Author: DBP Date: Fri 10th May 2024. 13:08 Bitcoin is still up 60% from December 2023 - it’s been hovering about that price for few months Reply |
| 140. Author: OzPar Date: Wed 15th May 2024. 01:20 Apologies for the delay. My crypto account has been on a rollercoaster, experiencing one of its periodic dips. Here`s how things stand today:- Bitcoin. $1257 ($1471). -$214 Doge. $1400 ($1965). -$565 Top 10. $375 ($410). -$35 IOTA. $30 ($47). -$17 Crypto.com. 0. (0). - TOTAL. $3062 ($3893) -$831 * April figures in brackets My portfolio has taken a hammering this month. The 21% dip in earnings in April is nasty, but it is indicative of the crypto market, which has this tendency to fluctuate dramatically. Remember, my initial investment was $1,400, so we are still well ahead. Let`s see if this dip continues next month or whether, as I would anticipate, we will continue to follow the sine curve and be back on an upward climb again. It`s certainly a dynamic market, isn`t it? :) Reply |
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