Bitcoin

T

Teesside96

Active member
Anyone into bitcoin/cryptocurrency?

Seems to be picking up again, I wonder if it’s because of the bank troubles recently
 
I couldn’t believe how bitter people were last time this thread popped up. It seemed to me a lot of people on here genuinely wanted those that had invested in it to lose their money. Anyway since there will be so many of those bitter people reading this thread I’ll share my recent success story. I’ve been in and out for a few years, I invested heavily over Christmas, I’ve just pulled a big chunk out, nearly 70% profit in 3.5 months. I’m no expert by any stretch but I’ve always found it relatively easy to make money from Bitcoin, it’s easier if you aren’t looking for a quick win.
 
Been buying the alt coins for about 2 years now. Can't afford to put a fortune on but try to manage £50 to £100 a month. Seen the farther in law and his brother make a lot of money from it. Also he have the missus £150 for Christmas but he made her put it on cardano ended up turning that £150 into over 10 grand unfortunately she made the mistake of not withdrawing all the profits and has lost most of it now but if they all eventually beat there ATH which they will ill be quids in
 
Teesside96 said:
Anyone into bitcoin/cryptocurrency?

Seems to be picking up again, I wonder if it’s because of the bank troubles recently
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That's pretty much it - confidence in the likes of the S+P are in the toilet, a lot of people just learning about fractional banking and the lack of liquidity they have. The worry is the government are just printing more money to cover the $billions lost which is going to cause further long term damage to the US economy but there seems little alternative, hundreds of businesses would go pop if they don't cover the losses. If there are further runs on banks this won't be sustainable.

As for Crypto - rather than Bitcoin specifically - yes, the market seems bullish but there may be turmoil ahead depending on the next steps by the Fed and whether the whales decide to bail with short term profit.
 
I’ve been buying alt coins timed it pretty well bought about 1,500 worth near the bottom the end of last year, worth about 300% of what I paid, I’ll be holding onto what I have for a while though.

My experience with crypto is a positive one in the past been investing since around 2017, usually take out what I put in, but I’m happy to lose the amount I have invested at the moment without losing sleep over it as I have plenty of
Conservative investments too
 
I'm personally not I'm bitcoin but I'm in other crypto projects, the likes of XRP and Cardano. The last thread that was on here I mentioned about crypto going in cycles, it wasn't a shock that crypto went down as that's what it does in the cycle and now it's slowly regaining momentum again (which is what is expected) don't get me wrong there will be volatility, it can't just go up constantly.

The fact that banks are collapsing all around the world obviously isn't nice for the people who are holding money in them but it is a good think for crypto.

Digital currency and cryptocurrency is the future and the sooner that people switch on to that the better as now is probably one of the better times to get into crypto even after a spike the last 3 months.
 
You can use various different exchanges like coinbase, binance, crypto.com.

I would suggest doing a bit of research on it before investing, YouTube videos etc.

Like any sort of investment, there is always a potential of losing everything so never invest more than you're willing to lose.

Personally I think it's the future but I can understand why people are a bit hesitant in getting into cryptocurrency.
 
I've been using BABB (BAX coin) as a hot wallet to get funds into the realm then transferring to wherever if buying then back out immediately to a cold storage wallet (Ledger) though you can use BABB to buy some Crypto directly.

If you are selling, I'd recommend transferring from a cold storage to a hot wallet before going to an Exchange - there is some concern over Quantum computing capability for hacking - but that is a way off as it isn't a perfected and usable technology for such an application right now. Having a proxy between cold wallet and Exchanges with a hot wallet just gives you another exit point that isn't your cold storage wallet.
 
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MFC_1990 said:
I'm personally not I'm bitcoin but I'm in other crypto projects, the likes of XRP and Cardano. The last thread that was on here I mentioned about crypto going in cycles, it wasn't a shock that crypto went down as that's what it does in the cycle and now it's slowly regaining momentum again (which is what is expected) don't get me wrong there will be volatility, it can't just go up constantly.

The fact that banks are collapsing all around the world obviously isn't nice for the people who are holding money in them but it is a good think for crypto.

Digital currency and cryptocurrency is the future and the sooner that people switch on to that the better as now is probably one of the better times to get into crypto even after a spike the last 3 months.
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This sort of comment is highly irresponsible and exactly why people were having a pop on the last thread about crypto. It’s not necessarily the future and you shouldn’t be telling people to invest in it. It’s up to them to go do their own research, you encouraging them to invest is going to line your own pocket if enough do with your own vested interests.
 
But it's all personal opinion isn't it as I've previously said, I'm not telling people they have to go out and invest in it I'm just offering my opinion, which is what I'm allowed to do.

I couldn't care less what other people do to be honest with you and it's got absolutely nothing to do with "lining my own pockets" I'm already involved so people can do what they want.

I have my own opinion on the future and digital currency and I think cash will become redundant sooner than what people realise.

It's upto you what you do with your money, I don't really care what you spend it on. Someone's asked for people's thoughts on it and I've given my thought, simple as that. If you're not interested in it, don't invest 👍
 
I made quite about on dogecoin but was only in it for a few weeks. I’ve actually got that as cash in my Binance account.

What coin do people recommend now? Xrp, Cardano, ETH??
 
swordtrombonefish said:
That's pretty much it - confidence in the likes of the S+P are in the toilet, a lot of people just learning about fractional banking and the lack of liquidity they have. The worry is the government are just printing more money to cover the $billions lost which is going to cause further long term damage to the US economy but there seems little alternative, hundreds of businesses would go pop if they don't cover the losses. If there are further runs on banks this won't be sustainable.

As for Crypto - rather than Bitcoin specifically - yes, the market seems bullish but there may be turmoil ahead depending on the next steps by the Fed and whether the whales decide to bail with short term profit.
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I don't touch bitcoin or Crypto, it's too volatile and risky for me, but goo to see that is working out for you lot, if you're up.

I don't think long-term confidence in the S&P 500 (or all world) is in the toilet, short term maybe. I just think 2021 was purely an artificial bump, and 2022 a correction, just like what Bitcoin had. 2023 just seems to be a consolidation for S&P/ All world etc, the market is still wary etc.

To me, for the S&P 500 etc, we look to now be where we would have been had covid, the war, the energy situation, the chip situation etc not happened. The war will end at some point, and the world will sort out the energy situation, and catch up with the chip manufacturing etc, and then everything will all go up again.

Sure, you might get a better return on Bitcoin, but also the chance of it going to zero is much higher. The S&P 500 isn't going to zero. The banking aspect is suffering, sure, but it will recover and tech (related to AI) might be enough to offset that.

It's a bit of a strange one, knowing what to do now, I don't know where to go further in on tech, S&P 500 or whatever. I've got a fair chunk of cash sat waiting, which I'm thinking to maybe whack back into a pension for the tax relief, as there's little point me having it sat here. New tax year soon, so need to make my mind up, normally i'd drip feed into S&S ISA, but not sure on timing, and don't want to waste the year.
 
01234 said:
I made quite about on dogecoin but was only in it for a few weeks. I’ve actually got that as cash in my Binance account.

What coin do people recommend now? Xrp, Cardano, ETH??
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If the XRP case comes out in their favour then this will be adopted by so many companies around the world.

I personally like XRP, Cardano and Doge even though doge started as a bit of a joke it has a lot of potential.

There's so many to invest in but do your own research and see what projects you like. Can't really go wrong with bitcoin and ETH but if you're looking to expand away from them just do some of your own research 👍
 
I think it’s good to have multiple investments you don’t have to be one or the other with crypto and traditional investments, you can do both, I just find cryptocurrency investments abit more Interesting atm and seeing where it will end up
 
I'll be honest I've not really dabbled much in stocks or shares but there's something about crypto that I feel like is good to get involved with for the future. Who knows I might lose everything I put into it but I also might gain from it, nothing in life is certain.
 
MFC_1990 said:
I'll be honest I've not really dabbled much in stocks or shares but there's something about crypto that I feel like is good to get involved with for the future. Who knows I might lose everything I put into it but I also might gain from it, nothing in life is certain.
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A lot of people going in on crypto, when they have no experience in S&S, it makes me uneasy, but each to their own.

Some seem to want to win big, but seem happy that they could loose everything. In reality, to win big, you need to bet big, but you won't be happy if you lose everything doing that, it's a bit contradictory. Another way is to get in early on something, like getting on on bitcoin 10 years ago or whatever, but trying to get in early on new coins probably won't work if also investing in bitcoin, as they could inverse. If one or two eventually win the crypto race, they will kill the rest off.

A lot of people talk about bitcoin like investing (and to some it is), but to me, for most, it seems a bit like they're doing drugs. Too many seem to look for fast/ quick gains, and get really hyped up when it goes up, but then when it comes back down they have a really bad comedown, and sell up, often for a loss. Can often tell the types as they only talk when things are good, but are silent when it's bad, like a gambler only mentions when his 20/1 horse wins, but does not mention the other 29 times it lost, or that they're playing a game where they're going to get turned over by margins.

Things are only good if they go up, if they haven't sold when it goes down, loads can't handle this, and it takes a long time to learn, so bitcoin and crypto for amateurs don't really seem like a good fit to me.

I suppose with bitcoin, it's the same as S&S, slow and steady is the way, the problem is it's not diversified at all, which is risky. Buying different coins isn't really diversifying either, not sectors anyway. It's safer to drip feed in if something is going to gain long-term. Short-term isn't really investing, it's more like gambling.

Death and taxes are certain. With the latter you can offset tax (to a time when you will earn less, with a lesser tax rate) by putting into a pension, and there's no tax on ISA's etc, and you can put S&S in an ISA wrapper, covering for capital gains. Not sure if crypto can be put into an ISA.

The crypo exchanges scare me also, like FTX going broke, which wasn't protected by the FCA.
 
I suppose no matter what you put your money in you could lose everything. In my personal experience, I've made little gains in crypto but I'm in for the long haul, you can't lose anything if you don't sell even if your assets are down.

Most people in crypto and stocks and shares will secretly love the markets being down if they believe in sometime cos it means they can accumulate more, I've personally enjoyed the markets being down as when they do eventually go back I've added quite a bit to my portfolio.

A lot of the time people in crypto don't talk about it anyway when it's up or down, when it's up new people are interested which sparks a conversation as this thread has done and when it's down new people aren't interested so no new conversations are being had.

I'd never force anyone to put their money into anything, people could put their life savings into sponges for all I care, I'm comfortable in what I'm doing and that's all that matters I guess.
 
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