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Cryptocurrency thread - started by JustOne

JustOne said:
I went with a 'charity' coin for feeding people which has only been going since 1st May called Yummy Coin

It dropped like a stone all day from 0.00019000 to 0.00004000 but it's just gone up to 0.00009000

and another 'charity' coin that is only 3 days old called Paddy coin which is for mental health which is kinda holding it's own right now.
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I'll stick to holding my own.....:eek::eek::eek:
 
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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?
 
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.
 
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 :LOL:

Should I help her pack...?
 
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.
 
Well that was a hectic week :p

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 :sleep:
 
JustOne said:
Well that was a hectic week :p

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 :sleep:
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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!
 
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.
 
ColchesterFC said:
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.
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Bitcoin and Ethereum are down about 22% and XRP is down about 3%
 
ColchesterFC said:
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.
Click to expand...

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.
 
JustOne said:
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.
Click to expand...

Not when I hit the big one next month and win a million. Positive mental attitude and all that. (y)
 
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 :sick:
 
ColchesterFC said:
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.
Click to expand...

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.
 
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