Cryptocurrency thread - started by JustOne

[Dannyc]

I wanted to try to make some money, that's why I bought crypto, bottom line.
Right now on the back of a double downward shift it's not going great - but I'm a fighter so kinda enjoying the buzz of playing with my own money, rather like the heady days I used to sit at the casino roulette table chain smoking

That said I am genuinely interested in crypto, not as a currency (I have no plans to buy a pizza with bitcoin) but in it's use of the blockchain technology, which I personally believe will simply grow and grow... and grow.
Blockchain is a bit like the new cloud, it's a place to securely store stuff and to move it around, adapt it, interact with it and put ownership on it, whether it's money, a painting or a piece of software.

If you take something like Amazon the resources it uses are mahoooosive, Facebook is another giant. If these companies can move to blockchain then the future of the internet and the way we do business will be revolutionised.

There are so many engineers out there trying to BUILD into blockchain that it can only grow. How these companies then disassociate themselves from cryptoCURRENCY is still to be established, I couldn't give a stuff about Dogecoin and crap like that ... however back to my first point - here to try and make money right now.

I have bought crypto in this company https://dfinity.org/ as I read thru their website, looked at the team of people involved and read about what developers are currently doing within the company I simply had to buy some of their 'shares'.

I'm not suggesting ANYONE copy my example, just think there is more to crypto than bitcoin. shame the entire market is painted with such a dirty brush IMO.

Spot on mate
I’ve invested in 8 different little cryptos company’s this ain’t going away as much as the general media will have u believe

 

[fundy]

Spot on mate
I’ve invested in 8 different little cryptos company’s this ain’t going away as much as the general media will have u believe

As someone on the outside of cryptos currently, or a no coiner as social media would have me, id love to know of those 8 which you think are the most undervalued and what you think they actually could be worth and why based on pure fundamentals?

All my investing career has been based on company/commodity/sector fundamentals (yes thats where the name fundy comes from!), call it an old school approach to investing and value. Have also been a day trader and traded currencies and commodities based on short term price action/psychology and currently would only get involved with cryptos on this basis as not been able to find one I would consider undervalued on a fundamental basis yet. I would be a lot richer if someone could convince me on a fundamental value basis though (or couldve done a few years ago )

 

[JustOne]

id love to know of those 8 which you think are the most undervalued and what you think they actually could be worth and why based on pure fundamentals?

Me too.

There's a couple that I like a lot on Coinbase, Cardano and Polygon seem to bounce back and forth and it doesn't seem to be too hard to buy/sell somewhere in the middle of the highs/lows
Both are involved with reducing the amount of energy and/or speeding up crypto transactions so they seem to fit with Elon Musks moanings about energy.
I like the fact that they both seem to keep moving back and forth somewhere between the .95 and 1.2 range.

Had a good day yesterday and basically tripled my pot as Yummy Coin went from 0.00002 to 0.00006 on the back of a listing on a new index and went up by 200%
https://poocoin.app/tokens/0x05f2df7b3d612a23fe12162a6c996447dce728a5

(none of this is anything to do with financial advice - all LUCK not judgement)

 

[GuyInLyon]

Keep calm lads don’t cash out let it ride we all know it will go back up some big exciting news coming soon it I’m not exactly sure who it is but some big company’s will be announcing investments over the next few months

Wow. Pimping Bitcoin on a golf forum. Why am I not surprised?
Your next "buy" advisory will be tulips.

 

[Dannyc]

Wow. Pimping Bitcoin on a golf forum. Why am I not surprised?
Your next "buy" advisory will be tulips.

?

 

[coryland]

In investing, one of the most important rules is not to invest your last money. Especially in such a volatile and risky market as cryptocurrencies.
Yes, I definitely still consider cryptocurrency as a high-risk instrument but look at the profits you can make here, we can't ignore it!
This is something you can never achieve with standard investment methods.
It's also very important to consume the right information. I read news only on https://wallstreethack.com/ and I consider this site one of the best sources of information.

 

[ColchesterFC]

Just for fun I've been having another look to see how much I would've made/lost if I had invested in Bitcoin.

For those with knowledge of these things, what happened in Oct 2020 to cause the start of the massive rise in value? Up to that point it had been bumbling along quite happily between £5k and £8k and then all of a sudden took off.

 

[Junior]

I'm sat on a bit of ADA Cardano waiting for the magic to happen. Tbh, I stopped looking several times a day as it can become quite an obsession.

 

[Fade and Die]

I'm sat on a bit of ADA Cardano waiting for the magic to happen. Tbh, I stopped looking several times a day as it can become quite an obsession.

Exactly this, when it’s pumping it becomes all consuming, checking it every half hour, I took some profit last year and paid off my mortgage, now just sitting on a chunk of XRP waiting for it to wake up! ?

 

[Foxholer]

Just for fun I've been having another look to see how much I would've made/lost if I had invested in Bitcoin.

For those with knowledge of these things, what happened in Oct 2020 to cause the start of the massive rise in value? Up to that point it had been bumbling along quite happily between £5k and £8k and then all of a sudden took off.

From memory, several companies started to (or at least stated they were considering) accepting Bitcoin as payment. Paypal and Tesla? Tesla was certainly responsible for the jump in Feb - buying $1.5 Billion worth.

I hope JustOne didn't sit on the Yummy Coin he mentioned in his post above.... There's been another zero added to it's value - and not in a good way!

 

[Mudball]

if you want to chuck some Christmas money.. Dodge is cheaper than BTC... there are plenty of meme ones going around... Only put money that you can lose completely..

US Tech stock on the other hand providing much better returns.... Over the last 12 months.. FAANG is up more than 50% at an average... Tesla up 100% post split. Cryptos are for Kids and NFT pirates..

 

[Tashyboy]

Bumping this thread coz my lad has just mentioned about investing in Crypto. Anyone for any thoughts about what to avoid or invest in and it just don’t have to be crypto.

Cheers everyone.

 

[Crow]

There are loads of get-poor-quick schemes out there, just browse the internet for a short while.

 

[PhilTheFragger]

Avoid, Very volatile

 

[NearHull]

It’s not an investment for me, it’s a gamble and one I haven’t taken - I lose enough gambling £2 ew on golf.

 

[Tom Ferras]

Bumping this thread coz my lad has just mentioned about investing in Crypto. Anyone for any thoughts about what to avoid or invest in and it just don’t have to be crypto. But I have some coins in my ownrwallet, though

Cheers everyone.

Agree with the rest of responders that it is much too volatile and one should avoid investing in this market but if you are still willing to buy something related to crypto I would buy only btc and eth. The rest is most likely rubbish.
UPD: I would also buy Aptos and Polkadot. I have some trust in them

 

[cliveb]

Crypto currency is no longer what it was intended to be.
It is now a purely speculative investment.
And it's basically a pyramid scheme, like any other "bubble". (Remember the dot-com crash in 2000?).
Those who cash in and get out at the right time will be laughing.
Leaving behind a large number of people who've lost out big time.

 

[Mudball]

Crypto currency is no longer what it was intended to be.
It is now a purely speculative investment.
And it's basically a pyramid scheme, like any other "bubble". (Remember the dot-com crash in 2000?).
Those who cash in and get out at the right time will be laughing.
Leaving behind a large number of people who've lost out big time.

it is pure speculation and a pump and dump scheme... there are better ways to make/burn money. Equity is doing well. Nvidia, ARM and the remaining FANGs...
I was disappointed that ARM did not go for UK listing. but their debut jump at nasdaq pretty much tells u why they skipped the UK.
Unfortunatley there is no way to invest in Nasdaq IPOs here in the UK

 

[Fade and Die]

Crypto currency is no longer what it was intended to be.
It is now a purely speculative investment.
And it's basically a pyramid scheme, like any other "bubble". (Remember the dot-com crash in 2000?).
Those who cash in and get out at the right time will be laughing.
Leaving behind a large number of people who've lost out big time.

It is that exactly, I've had Crypto for a few years and it really is just a massive gamble, I've made money in the past and actually paid off a chunk of my Mortgage with it, the hardest thing is managing your emotions, not so much when it goes down, you just hold tight... but when it goes up and up and up and you are convinced (#get greedy) its going to the moon so you hold on because you have massive FOMO that you don't want to be the guy who bragged about selling bitcoin for £6K and missing out on the £55k.

With the "Bag" I have left I now have far more realistic targets, however when (if) it pumps again, will I stick to them? who knows.

One tip though, just do not tell your Mrs... Had a mate in Oz whose "Bag" at one point was worth 1.25M Aussie Dollars...its worth 375K now! And not a week goes by without her bringing it up.

 

[Mudball]

It is that exactly, I've had Crypto for a few years and it really is just a massive gamble, I've made money in the past and actually paid off a chunk of my Mortgage with it, the hardest thing is managing your emotions, not so much when it goes down, you just hold tight... but when it goes up and up and up and you are convinced (#get greedy) its going to the moon so you hold on because you have massive FOMO that you don't want to be the guy who bragged about selling bitcoin for £6K and missing out on the £55k.

With the "Bag" I have left I now have far more realistic targets, however when (if) it pumps again, will I stick to them? who knows.

One tip though, just do not tell your Mrs... Had a mate in Oz whose "Bag" at one point was worth 1.25M Aussie Dollars...its worth 375K now! And not a week goes by without her bringing it up.

HODL...