Smiffy
Grand Slam Winner
Last edited:
Cryptocurrency thread - started by JustOne
- Thread starter JustOne
- Start date
backwoodsman
Tour Winner
Forgive me for possibly being dim, but presumably you have to sell, or cash out, to realise your assets? Until you do, you've neither gained nor lost anything? So what is it that will eventually make you sell?
Pathetic Shark
Tour Rookie
There was a guy who sat opposite me a few years back who was into it from the start. He began with around £3K he had been given in a windfall. He cashed out after a couple of years at over £50K.
JustOne
Ryder Cup Winner
Not that I've broken the bank but I've been told she's leaving me if I buy any more. I can't help it as it all looks so exciting 
Should I help her pack...?
Should I help her pack...?
4LEX
Well-known member
I actually got into Bitcoin in 2014-2015. Nothing ridiclous but very grateful to the guy who banged on about it at work and insisted on investing in it. He made enough to retire this year.
SocketRocket
Ryder Cup Winner
This seems to be a whole world of which I have no comprehension. Am I the only one?
SwingsitlikeHogan
Major Champion
Nope you are not alone...
The Fader
Newbie
30+ years in International banking and it's a mystery to me!!
And absolutely no inclination to unravel it!!
JustOne
Ryder Cup Winner
Well that was a hectic week
Bought some crypto then the very next day the Chinese ban their shops/companies from accepting crypto as payment and so the market crashes and I lose 80% of my investment.
Whilst it's been falling I have bought and sold backwards and forwards on the little gains here and there and have got myself back to a nice position.
Totally sucks having to be awake until 3am waiting for the Americans to do their business
Bought some crypto then the very next day the Chinese ban their shops/companies from accepting crypto as payment and so the market crashes and I lose 80% of my investment.
Whilst it's been falling I have bought and sold backwards and forwards on the little gains here and there and have got myself back to a nice position.
Totally sucks having to be awake until 3am waiting for the Americans to do their business
Fade and Die
Medal Winner
Well that was a hectic week
Bought some crypto then the very next day the Chinese ban their shops/companies from accepting crypto as payment and so the market crashes and I lose 80% of my investment.
Whilst it's been falling I have bought and sold backwards and forwards on the little gains here and there and have got myself back to a nice position.
Totally sucks having to be awake until 3am waiting for the Americans to do their business
Yeah Americans wake up and think “hey I’ve made some money!” And sell pushing the price down! ?
It Could still dip again of course but I bought a bit more over the weekend, it would be nice if the narrative changed and we got a positive outcome with the SEC then things could really take off!
ColchesterFC
Journeyman Pro
Just out of interest, if I'd taken the £15k I put into Premium Bonds back at the start of May and put it into some of the more popular cryptocurrencies instead (maybe split it 50/50 or 33/33/33 between the best known ones) how much would I have lost by now? I know it's difficult to be specific, and it's really just for a bit of fun as I don't know enough about them to have actually invested, but wondered how much grief I'd be getting from Mrs Colch right now if I had done it.
Fade and Die
Medal Winner
Bitcoin and Ethereum are down about 22% and XRP is down about 3%
JustOne
Ryder Cup Winner
Due to the rate of inflation (1.5%) you currently lose £225 of value per year holding premium bonds. Whilst your money is safe it's still (technically) going down.
ColchesterFC
Journeyman Pro
Not when I hit the big one next month and win a million. Positive mental attitude and all that.
fundy
Ryder Cup Winner
Not when I hit the big one next month and win a million. Positive mental attitude and all that.
you sound perfect to invest in cryptos
Fade and Die
Medal Winner
JustOne
Ryder Cup Winner
Rookie mistake 1: Buying one day before a massive crash
Rookie mistake 2: Selling out a position completely for 25% gain in one day.... and now it would be a 70% gain
Rookie mistake 2: Selling out a position completely for 25% gain in one day.... and now it would be a 70% gain
ColchesterFC
Journeyman Pro
Just checked the history and on May 6th the value of Bitcoin was 56,405.4. Today it's 38,411.1.
On 6th May I would have been able to buy 0.26593 of a Bitcoin (if that's how it works) for my £15k.
Today that would be worth a fraction over £10.2k. Almost £5k would have been gone in 20 days.
Thought I'd put the figures here so that come May next year I can see what would have happened in a parallel universe where I knew enough and was brave enough to have invested.
JustOne
Ryder Cup Winner
Good one
I'm not sure if I want you to be happy or disappointed though
.... and now it would be a 70% gain
Make that 93%
ColchesterFC
Journeyman Pro
Good one
I'm not sure if I want you to be happy or disappointed though
Doesn't matter. Once I've hit the £1m jackpot on the Premium Bonds twice in the next twelve months it won't matter what Bitcoin would've done.
