Investing in Ethereum & tokens

According to the following article "Bitcoin bloodbath nears historic levels"

https://www.smh.com.au/business/markets/bitcoin-bloodbath-nears-historic-levels-20180702-p4zox4.html

Since the last post on this thread, Ethereum has tripled in value.

Who's still in? 

Funny you mention as I put $100 dollars just as an experiment at the weekend. Closed it quite soon afterwards but looked like bad timing but obviously that amount was not using as a serious investment

My MD is a big believer in BTC specifically, and an avid follower of Michael Saylor. He (my MD) put a significant amount of the business' cash into bitcoin around August last year, and is now around 4x on this investment. Don't think I would have the balls for that, but fortune favours the brave.

Anybody get involved in the Gamestop lark?

I have a few coins from a while ago. Mostly BTC & ETH but also some BAT which hasn't done a lot. 

At the previous BTC peak of $20k I was doing alright. I got carried away and fucked up buying some altcoins some of which went to shit, one of them even got delisted. 

I got pissed off with myself and sold them all apart from BAT, consolidated into BTC and ETH and ignored it for a 18 months. The recent rise has got me someway back towards where I was but I probably lost 50% compared to what if have had if I'd just left it in the 2 main coins and not basically gambled it on shitty moonshots. 

Didn't get involved in GameStop although I love what Reddit did.

Anyone got into crypto currencies through ARB or OTC? Crypto shares. Rightly or wrongly I think they are easier to trade in than buying the currencies themselves.

I haven't dabbled yet and am watching. There is some money to be made here but they are still too volatile for  my liking.

21 hours ago, Tamesaint said:

Anyone got into crypto currencies through ARB or OTC? Crypto shares. Rightly or wrongly I think they are easier to trade in than buying the currencies themselves.

I haven't dabbled yet and am watching. There is some money to be made here but they are still too volatile for  my liking.

 

I just bought BTC or ETH from coinbase and then traded some. 

It's insanely volatile. There's definitely money to be made if you have a lot of time to research coins and study charts but even then there's huge investors who can wreck you in no time by manipulating the market. 

Bitcoin consumes 'more electricity than Argentina' - BBC News  This is amazing, I had never considered the energy use of 'mining' this product. 

Will this turn the sentiment of the young against this 'currency'? I really still cant see why it is so popular and to me am sceptical , but it seems now the media are talking it up that it is going to rush on

On 09/03/2021 at 15:50, OldNick said:

Bitcoin consumes 'more electricity than Argentina' - BBC News  This is amazing, I had never considered the energy use of 'mining' this product. 

Will this turn the sentiment of the young against this 'currency'? I really still cant see why it is so popular and to me am sceptical , but it seems now the media are talking it up that it is going to rush on

10% drop in value today because Elon Musk sent out a tweet!

https://www.bbc.co.uk/news/business-57096305

Anyone investing their hard earned into an unregulated industry with zero guarantees and culpability needs their head read!

In fairness, it went up in the first place because Tesla bought a big chunk. Clearly the market is being manipulated here and I wouldn't be surprised if Musk does buy up again on the sly if the price drops further.

I've invested about 400 pounds and my portfolio is currently worth 1,200 pounds, largely in Ethereum.

If I lose the 400 it's no big deal to me but if Ethereum balloons in the way Bitcoin did then that 400 quid will cover the deposit on an investment property.

Obviously people shouldn't be spaffing their life savings here but as an affordable gamble it seems stupid not to get involved, IMO.

Says the man that would benefit if lots of other people got involved 😉

5 hours ago, Fan The Flames said:

Says the man that would benefit if lots of other people got involved 😉

Oh, absolutely! 

I have a bottle of air for sale, Im branding it 'Air Gold' IMo has the same value as a Bitcoin, all I need is Musk to endorse it and send it to the moon, then Im quids in.

Once I get a person to buy it, they then sell it on many times, splitting it into many pieces to make this ponzi scheme to really work.

Of course I / they will cash out just before pulling the rug.

To be fair this product has lasted a lot longer than I predicted, and so I may be left rueing not joining the parade. 

I nearly bought about £20 worth of bitcoins years ago as some dodgy company wanted payment in them.  Can't remember how many £20 bought in those days but it was quite a few, close to pound for pound IIRC.  I ultimately decided against the dodgy purchase so didn't bother getting the bitcoins.  I could easily have done so though and just as easily not bothered to get my money back and left them sitting there.  Imagine that.  I daydream about it.  

how does one buy this kind of thing?  I have read/heard of all sorts of methods if you want get into the Pirate Chain/SafeMoon action

All seems weird!

3 hours ago, AlexLaw76 said:

how does one buy this kind of thing?  I have read/heard of all sorts of methods if you want get into the Pirate Chain/SafeMoon action

All seems weird!

Sign up to Binance or Coinbase. Deposit some money, buy some bitcoin or Ethereum. I guess Safemoon is an Ethereum based token but I'm not sure what exchange it's on so you might have to sign up to a different exchange and move Eth across to trade for Safemoon. It's all quite easy really.

15 hours ago, Weston Super Saint said:

10% drop in value today because Elon Musk sent out a tweet!

https://www.bbc.co.uk/news/business-57096305

Anyone investing their hard earned into an unregulated industry with zero guarantees and culpability needs their head read!

This.

It comes to something when even the Chinese think cryptocurrency is dodgy!!

https://www.bbc.co.uk/news/business-57169726

Quote

The price of Bitcoin has fallen below $34,000 (£24,030) for the first time in three months, after China imposed fresh curbs on crypto-currencies.

Beijing on Tuesday banned financial institutions and payment companies from providing services related to cryptocurrency transactions.

It also warned investors against speculative crypto trading.

2 hours ago, Weston Super Saint said:

It comes to something when even the Chinese think cryptocurrency is dodgy!!

https://www.bbc.co.uk/news/business-57169726

 

Weirdly it hit a low of exactly £30k and has since rebounded to nearly £40k in 5 hours. 

Governments don't like it because it takes their power over finances away.

It's obviously hugely volatile and will be until there's some sort of regulation which will probably come at some point.

The financial markets have been mostly gambling for sometime now, it only makes sense to take underlying assets out of the picture and just bet against each other, I cannot see anything going wrong.

On 29/06/2018 at 14:15, OldNick said:

I notice that Bitcoin is now under £5000. Is anyone on here still investing(?)in this new age concept?

Funny looking back in this. Anyone who bought in at the time of this quote 3 years ago would be nearly 10x today. 

10 hours ago, Plastic said:

Funny looking back in this. Anyone who bought in at the time of this quote 3 years ago would be nearly 10x today. 

Buying in and leaving it, yes. Buying in and trading, then probably no unless you are really good at it. That's where a lot of amateurs like me got overexcited and lost some of their money.

I don't have any Bitcoin but have some Ethereum and a pretty big chunk of a  small coin called Polyswarm which I'm pretty excited about.

3 hours ago, The Cat said:

Buying in and leaving it, yes. Buying in and trading, then probably no unless you are really good at it.

Fair point, but the same could be said of stocks also. Point was, a 3 year locked-in ISA would have yielded around 3% YoY, barely keeping up with inflation, which many would see as the ‘sensible’ choice. 

8 minutes ago, Plastic said:

Fair point, but the same could be said of stocks also. Point was, a 3 year locked-in ISA would have yielded around 3% YoY, barely keeping up with inflation, which many would see as the ‘sensible’ choice. 

Oh yeah, totally. Wish I'd accumulated Bitcoin and Ethereum over the past few years and just left it. I'd be sitting in the £80 premium padded Kingsland seats if I had!

11 hours ago, The Cat said:

Buying in and leaving it, yes. Buying in and trading, then probably no unless you are really good at it. That's where a lot of amateurs like me got overexcited and lost some of their money.

I don't have any Bitcoin but have some Ethereum and a pretty big chunk of a  small coin called Polyswarm which I'm pretty excited about.

Can you tell us why we should be buying Polyswarm?

17 minutes ago, Picard said:

Can you tell us why we should be buying Polyswarm?

It's a decentralised detection system that rewards people for identifying malicious malware.

It doesn't really have any competition in the market and it's mainnet is due by the end of the year. Once that's in place the token will flow through the system which should mean the price goes up a fair amount.

They've built up partnerships with companies in their area of expertise rather than pay randoms to shill it on Twitter etc. It's flown completely under the radar until recently when it's started gaining a fair bit of interest.

https://polyswarm.io

On 15/10/2021 at 22:51, Plastic said:

Funny looking back in this. Anyone who bought in at the time of this quote 3 years ago would be nearly 10x today. 

Yes it would be fantastic, to my mind t is a ponzi scheme but now there is a etf being traded it will make it stronger.

Amazing to read that man who put 10k bitcoin for sale at $50 a long time ago is now worth 470m !!

Hindsight, and the young mainly believe in it and so it will keep it alive 

On 23/10/2021 at 09:48, OldNick said:

Yes it would be fantastic, to my mind t is a ponzi scheme but now there is a etf being traded it will make it stronger.

Amazing to read that man who put 10k bitcoin for sale at $50 a long time ago is now worth 470m !!

Hindsight, and the young mainly believe in it and so it will keep it alive 

That, inflation & quantitative easing. 

I have to hold my hand up, I was wrong it seems this has been a fantastic success for anyone who believed.

On 16/10/2021 at 21:12, The Cat said:

It's a decentralised detection system that rewards people for identifying malicious malware.

It doesn't really have any competition in the market and it's mainnet is due by the end of the year. Once that's in place the token will flow through the system which should mean the price goes up a fair amount.

They've built up partnerships with companies in their area of expertise rather than pay randoms to shill it on Twitter etc. It's flown completely under the radar until recently when it's started gaining a fair bit of interest.

https://polyswarm.io

 

Wonder if anyone bought this?

Nearly doubled in value today, getting some big interest on twitter and other social media as people suddenly take note of the upward price action.

Mainnet within a week, hopefully another price spike then. Exciting times.

On 09/12/2021 at 22:03, The Cat said:

Wonder if anyone bought this?

Nearly doubled in value today, getting some big interest on twitter and other social media as people suddenly take note of the upward price action.

Mainnet within a week, hopefully another price spike then. Exciting times.

Hope you went balls deep on this. You'll be retiring soon! Coinbase listing was quite a suprise.

2 hours ago, petermcpete said:

Hope you went balls deep on this. You'll be retiring soon! Coinbase listing was quite a suprise.

Yeah, was a mad day.

Not balls deep but I'm more than happy with what I have. I'm more than 25x up on what I put in. I know of a couple of people who went in hard when it was really cheap and are nearly millionaires now from it.

A bit of a price correction the last day which is to be expected but still loads of room for growth too

7 hours ago, The Cat said:

Yeah, was a mad day.

Not balls deep but I'm more than happy with what I have. I'm more than 25x up on what I put in. I know of a couple of people who went in hard when it was really cheap and are nearly millionaires now from it.

A bit of a price correction the last day which is to be expected but still loads of room for growth too

So you are not selling yet?

22 minutes ago, Picard said:

So you are not selling yet?

Nope. Still so much more to come from the project. If it goes another 3 or 4x I'll take out 20%.

I have no idea how all this modern currency type stuff works but feel sure I read somewhere that a lot of Bitcoins are mined through computers in Ukraine.

Is this correct and, if so, how will the conflict Bitcoin?

7 minutes ago, spyinthesky said:

I have no idea how all this modern currency type stuff works but feel sure I read somewhere that a lot of Bitcoins are mined through computers in Ukraine.

Is this correct and, if so, how will the conflict Bitcoin?

No idea but my advice is to buy property in Russia. Make sure you get a tracker rate mortgage.

1 hour ago, spyinthesky said:

I have no idea how all this modern currency type stuff works but feel sure I read somewhere that a lot of Bitcoins are mined through computers in Ukraine.

Is this correct and, if so, how will the conflict Bitcoin?

The mining process is extremely elastic; the key thing to remember is that the algorithm aims to have 1 block mined every 10 minutes - this is the key. The more power that gets thrown at it, the more complex the calculations become in order to maintain the 10 minute target, hence why we were hearing about so much energy being expended at the height of the Chinese crypto boom. 
The inverse is also true, if very little mining happens, the calculations become simpler in order to hit the 10 minute target. Transactions are also encoded to the chain as part of this process.
Sadly, as you can probably see, the concept is quite flawed, leading to an exponential increase in energy usage as the computational arms race heats up. Etherium is ‘mined’ in a similar way. This is known as ‘proof of work’ or pow.
In future, it’s likely that the alternative ‘proof of stake’ based approach (as implemented by cardano among others) will be widely adopted, as this dispenses with energy-heavy mining in favour of validation by individuals ‘staking’ their holdings on the chain, in a similar way to deposits in a bank.

I remember listening to a show on World Service a couple of years ago that reported loads of Bitcoin was being mined in Siberia.

Backed up by this article from last week

https://decrypt.co/93778/bitcoin-mining-russia-largely-unaffected-amid-ukraine-invasion

A reminder this week that there are a lot of Ponzi schemes in this space, normally linked to stable coins.

Check out Luna...

If you had invested £1000 last week, today it would be worth around £10.

I've been out of, or short on, cryptos for a couple of months (except ADA), so luckily not very exposed to this craziness. 

20 hours ago, Plastic said:

A reminder this week that there are a lot of Ponzi schemes in this space, normally linked to stable coins.

Check out Luna...

If you had invested £1000 last week, today it would be worth around £10.

I've been out of, or short on, cryptos for a couple of months (except ADA), so luckily not very exposed to this craziness. 

 

The one year return looks good as well -99.94%. In the last year lots of institutions have put money into crypto and so they cant afford for it to die. I read that the amount of whales ( myunderstanding is that these are people who hold massive amount of coins) has dropped dramatically, I can only assume they have carefully left the game for the poor sould to hold the baby

The price of bitcoin and other cryptocurrencies crumbled over the last two days, after a major cryptocurrency lender effectively failed

and halted all withdrawals from its platform, citing “extreme market conditions.”

Bitcoin was trading at roughly US$23,400 on Tuesday, down more than 16% in the past day. Ethereum, another widely followed cryptocurrency,

was down more than 20%. Investors have been selling riskier assets such as digital currencies and technology stocks as the Federal Reserve

raises interest rates to combat high inflation.

https://www.1news.co.nz/2022/06/14/bitcoin-plunges-as-major-crypto-lender-halts-operations/

This is an area I have quite a bit of experience in and I can tell you I truly believe BTC will drop below 10K in the coming year. There is a great recession if not depression looming with mega poverty all around us, in so much as people will not be able to pay household bills, fuel cars, eat etc. This is going to get worse and the beginning of 2023 will see markets crash like never before. 

I like how when all is going up it "It's great there is no government interference, it a real currency free of regulations"

And when it's going down "we need regulations and protection because there are unscrupulous people, or fraud protection or we need to be saved from people with big promises inventing unrealistic schemes that ultimately fail."

What's worsening the problem in the US is the people who did well last year having to now pay taxes on their gains and having no money to cover the bills as their assets have evaporated, when they did not put anything aside to cover it because they expected it to just keep going up, and taking mo ey out means you can't maximize your gain. This has since turned out to be an incorrect assumption.

More losses still to come I think. I’m planning to stay out of markets generally until q1 ‘23. Made a decent return shorting MicroStratagy though. Think they may be going down the pan. 

On 14/06/2022 at 06:36, Gurj said:

This is an area I have quite a bit of experience in and I can tell you I truly believe BTC will drop below 10K in the coming year. There is a great recession if not depression looming with mega poverty all around us, in so much as people will not be able to pay household bills, fuel cars, eat etc. This is going to get worse and the beginning of 2023 will see markets crash like never before. 

I am sorry to say I am with you on this.
The FTSE 100 has had a sharp reduction today and I am fearful this will continue as I have a decent % of my capital in shares .
That said I have always worked on the assumption that my shares are there for the long haul so expect to take a fair bit of short term pain for (hopefully) long term gain.
The problem is that the possibility of recession will accentuate the myriad of problems facing the Govt who are not collectively able to deal with the expected mayhem.

Yay graphic cards will be cheap again.

Bit fucked at the moment it's fair to say. Might be a good time to shake out the phoney coins that literally have no use case and slowly rebuild while letting the good projects grow.

Will certainly take a while though.

Nice to see a good old fashioned bank run developing on the crypto lenders preventing people from making withdrawals. Having to be propped up with old fashioned dollar bills.

A new Eth token which combines the hype of meme coins with the hype of the World Cup...

1. We went live with WCI bets our main utility like 20 days ago, still in testing phase but works flawlessly. 50k+ paid out in Winnings

2. Developing worlds first sports leverage platform, UI mock Up live, platform coming this week

3. Nft’s 450eth mega jack pot.

4. WCI sportswatch live, h

5. $WCI endorsed by biggest legends like ronaldhino, dani , arturo. With more joining in

6. $WCI will have ads in EFL 3rd most viewed league

7. Billboards 30+ screens incoming

8. First Cex bkex is in, more incoming, finalising another one soon

9. YouTube campaign has started aswell, covering through various languages and communities.

This is just the beginning