Crypto Currency Thread (Vol.2)

[OoopsVoss]

greengreenwood7 said:

@ooopsvoss....

yeps, mstr & clsk are tickers for microstrategy and cleanspark. My point being that they are totally related to digital assets aka 'crypto' in that mstr holds 200k of btc and cleanspark mines it. If institutions have been invested in these for ages, it would seem reasonable to say that 'investing in crypto' isn't gambling - if done right.

MSTR has done in 4x in 6 months (more if you sold out at the peak). Nice one. BTC has done less than 2x, Nvidea the same. Ignoring mkt cap considerations is the uplift driven by broader (as in DLT) considerations not the 13bn in BTC? I see a very rosy future for DLT solutions ahead, BTC obvs I'm struggling with (due to stated aims) shoot me, but do you think that they are benefiting from some leverage push (even though its Russell 2k)? You don't have to give details, but given not everyone has the same approach to risk; its a wicked pick.

[Seventyseven7]

Blown2CV said:

Mr Whippy said:

Seventyseven7 said:

I've shared my portfolio in this thread multiple times for reference. I notice you pick and choose who to reply to, and often ignore any questions around making money in investing yourself. You’ve probably missed my portfolio posts up there on your high horse, so for your reference:

I’ve made over £500,000 from ‘crypto’ - that means, profits withdrawn (and CGT paid on it) - I currently have an open portfolio sitting just over 600k USD. Happy to share screenshots if you want to see more.

But must be ‘horsest’ right?

Now let me see your portfolio.

Yes great but how much did you start with?

And did you take a considered risk or just get lucky.

I’m not daft enough to share my finances on here but I made plenty from crypto but it was arguably all by “accident”

he says if he was a gambler he'd be the luckiest one in history so maybe he started with a quid 15 years ago.

Whether I started with 10k or 100k, you wouldn’t want to acknowledge or listen as it doesn’t fit your narrative. Good luck with your own investments, hope you make some good returns.

[NickZ24]

greengreenwood7 said:

well i'm def not sharing my crypto details....

I don't tend to value related to £, i have a target to swap into other assets and watch the pair charts with that in mind. Timeframe to swap and be out of related proxies, likely late this year/middle next depending how things go. IF BTC does ok, then those stocks probs got another 3x in them as a min, both against £ and the other assets i want to 'be in' for the longer haul.

Sounds like a wholeheartedly trader. How much time do you dedicate on that?
I just take Litecoin for works we do, web-development. It arrives in under 3 minutes and cost a few cent, if that. The bank takes €56 for a comparable amount.

That is the original thought when developing Bitcoin. P2P.
Nowadays people hear crypto and think in trading.
Its easier and more profitable to trade wheat bushels or shares.
You get leverages there too.

[Blown2CV]

Seventyseven7 said:

Blown2CV said:

Mr Whippy said:

Seventyseven7 said:

I've shared my portfolio in this thread multiple times for reference. I notice you pick and choose who to reply to, and often ignore any questions around making money in investing yourself. You’ve probably missed my portfolio posts up there on your high horse, so for your reference:

I’ve made over £500,000 from ‘crypto’ - that means, profits withdrawn (and CGT paid on it) - I currently have an open portfolio sitting just over 600k USD. Happy to share screenshots if you want to see more.

But must be ‘horsest’ right?

Now let me see your portfolio.

Yes great but how much did you start with?

And did you take a considered risk or just get lucky.

I’m not daft enough to share my finances on here but I made plenty from crypto but it was arguably all by “accident”

he says if he was a gambler he'd be the luckiest one in history so maybe he started with a quid 15 years ago.

Whether I started with 10k or 100k, you wouldn’t want to acknowledge or listen as it doesn’t fit your narrative. Good luck with your own investments, hope you make some good returns.

the only way you could have made that much in BTC is if you got in early. Then it's not quite a skill, or a fantastic investment opportunity is it? It's not like someone can come in and put £10k down and expect to make half a million quid is it? Barely break even over last couple of years?

[greengreenwood7]

@ ooopsvoss....and....

I don't consider myself a trader, in fact i made 2 stupid moves in the past 12 mths which curtailed the gains i would have locked in - if i'd stayed with my original allocations ( swapped between assets at the wrong time).

So.
MSTR - the way i see it ( and this thesis is really drawn from a cple of investment channels that i subscribe to/have faith in.
It 'should' in theory trade at a price relative to BTC, but as you know it doesn't - with wilder swings and generally outperforming. There's a lot of speculaton as to whether they will go for SP500 status - they do qualify now ( i believe). But i think they've held back de to tax implications on FASB accounting.

Either way:
1/ they actually have a small float of shares, and if you look at the institutions that are/have bought it seems that there's a healthy floor.
2/ if they do get onto the SP - then the premium will defo go up: because all the passive funds will be compelled to buy some, depending on their weighting within the index.

FWIW - my guesstimate target is that if BTC ddoes 2x from here, mstr shd likely do a 3+.

CLSK/IREN etc. well essentially they're mining the BTC, so although rewards just got cut in half, as long as BTC is above about 50k they're all making money. again, many institutions hold and continue to buy.
guesstimate my side is again for a 2x by btc, then they likely do a 4x.

My goal is to swap out of clsk when it hits a ratio of around 1:5 against tesla, will do the same with mstr - looking at 12:1 'ish, but will be more shy about getting out of mstr for the reasons above. My hope is that crypto runs faster than Wall St realises that tsla isn't a car company - as that will 9 if things stay the same) be my bet for the coming years.

will be doing same with my Solana and Sol Alts. Only BTC i have is via ETF's these days, and actually i swapped al of it for more LEAPs, & shares in the miners, plus a bit more mstr - in general account.

sorry - can't recall who asked the 2nd question about trading: no, i don't day trade, i keep a weather eye on opportunities to swap assets, and occasionally use inverse funds. i do watch crypto daily (but only sol/btc and 3-4 sol alts), and sometimes dip in with a margin trade, but that's rare.

right or wrong: i see now and the next 6-12mths as an opportunity that rarely comes round. i'm not wed to anything, and am aware that my positioning would give many sleepless nights.

so am no BTC maxi, and no user of crypto, but the space fascinates me - aside from the investing side, i'm curious to see how some of the projects change/impact eitehr of lives directly, or how they disrupt trad-fi etc.

[Mr Whippy]

Blown2CV said:

the only way you could have made that much in BTC is if you got in early. Then it's not quite a skill, or a fantastic investment opportunity is it? It's not like someone can come in and put £10k down and expect to make half a million quid is it? Barely break even over last couple of years?

Exactly.

It’s either a finger in the air punt long ago and hodl’ing.

Or it was sticking mega money in there relatively recently at great risk.

Ie, after 2017 it sat in doldrums until the pandemic free money dragged everything up. You’d have had to be fairly brave to go buying £50k worth then to have £500k-£760k ish now.


The only strategy I could have stomached was cost averaging in… but again that only works if you cash out… and till you do it could still become worthless.


Hindsight investing is a piece of piss.

[ooid]

Seventyseven7 said:

I’ve made over £500,000 from ‘crypto’ - that means, profits withdrawn (and CGT paid on it) - I currently have an open portfolio sitting just over 600k USD. Happy to share screenshots if you want to see more.

Congrats. Let me know please if you can buy a property in U.K. (especially with leverage). As far as I'm aware, no solicitors or conveyancing firms touching buyers with crypto earnings.

This is a genuine question by the way, I have a friend desperately looking for a solicitor for a house purchase and his crypto earnings quite minimal comparing to yours.

[g4ry13]

Blown2CV said:

Seventyseven7 said:

Blown2CV said:

Mr Whippy said:

Seventyseven7 said:

I've shared my portfolio in this thread multiple times for reference. I notice you pick and choose who to reply to, and often ignore any questions around making money in investing yourself. You’ve probably missed my portfolio posts up there on your high horse, so for your reference:

I’ve made over £500,000 from ‘crypto’ - that means, profits withdrawn (and CGT paid on it) - I currently have an open portfolio sitting just over 600k USD. Happy to share screenshots if you want to see more.

But must be ‘horsest’ right?

Now let me see your portfolio.

Yes great but how much did you start with?

And did you take a considered risk or just get lucky.

I’m not daft enough to share my finances on here but I made plenty from crypto but it was arguably all by “accident”

he says if he was a gambler he'd be the luckiest one in history so maybe he started with a quid 15 years ago.

Whether I started with 10k or 100k, you wouldn’t want to acknowledge or listen as it doesn’t fit your narrative. Good luck with your own investments, hope you make some good returns.

the only way you could have made that much in BTC is if you got in early. Then it's not quite a skill, or a fantastic investment opportunity is it? It's not like someone can come in and put £10k down and expect to make half a million quid is it? Barely break even over last couple of years?

He said 'crypto'! Why are you only talking about BTC?!?

You do realise that within the last 15 months or so that Solana has increased by about 17x? It wasn't getting in early by any means, it was a case of being brave to buy then.

[Seventyseven7]

ooid said:

Seventyseven7 said:

I’ve made over £500,000 from ‘crypto’ - that means, profits withdrawn (and CGT paid on it) - I currently have an open portfolio sitting just over 600k USD. Happy to share screenshots if you want to see more.

Congrats. Let me know please if you can buy a property in U.K. (especially with leverage). As far as I'm aware, no solicitors or conveyancing firms touching buyers with crypto earnings.

This is a genuine question by the way, I have a friend desperately looking for a solicitor for a house purchase and his crypto earnings quite minimal comparing to yours.

Again it’s been covered in this thread. I bought my house in Surrey in 2021 using around 300k from profits plus money I had, I’m mortgage free, the house is now sold (700k) as we are migrating. There was some slight difficulty with the solicitors to begin with, but I just had to show some information that I downloaded from Koinly and bank statements and we was good to go.

I agree there was a problem using profits from crypto just a few years ago, but I managed to do it in 2021 and it’s much easier now. I can name 3 solicitors in Surrey that you could use if needed. PM me and I can send you details if needed for your friend.

[Seventyseven7]

Blown2CV said:

Seventyseven7 said:

Blown2CV said:

Mr Whippy said:

Seventyseven7 said:

I've shared my portfolio in this thread multiple times for reference. I notice you pick and choose who to reply to, and often ignore any questions around making money in investing yourself. You’ve probably missed my portfolio posts up there on your high horse, so for your reference:

I’ve made over £500,000 from ‘crypto’ - that means, profits withdrawn (and CGT paid on it) - I currently have an open portfolio sitting just over 600k USD. Happy to share screenshots if you want to see more.

But must be ‘horsest’ right?

Now let me see your portfolio.

Yes great but how much did you start with?

And did you take a considered risk or just get lucky.

I’m not daft enough to share my finances on here but I made plenty from crypto but it was arguably all by “accident”

he says if he was a gambler he'd be the luckiest one in history so maybe he started with a quid 15 years ago.

Whether I started with 10k or 100k, you wouldn’t want to acknowledge or listen as it doesn’t fit your narrative. Good luck with your own investments, hope you make some good returns.

the only way you could have made that much in BTC is if you got in early. Then it's not quite a skill, or a fantastic investment opportunity is it? It's not like someone can come in and put £10k down and expect to make half a million quid is it? Barely break even over last couple of years?

It wasn’t in BTC. Majority of my holdings are now BTC.

I posted screenshots earlier, not sure if you saw them as I’ve now taken them down. But currently I’m mostly in RNDR (ai) Solana and Avax, outside of BTC.

I love how you are such an expert in the field and no one can make money, unless it fits your negative narrative.

How much do you make selling your old trousers on eBay for, sounds lucrative.

[BandOfBrothers]

g4ry13 said:

He said 'crypto'! Why are you only talking about BTC?!?

You do realise that within the last 15 months or so that Solana has increased by about 17x? It wasn't getting in early by any means, it was a case of being brave to buy then.

Because the "smarter than you" naysayers don't really understand the diffference between the different types of Crypto.

[RichTT]

Mr Whippy said:

Exactly.

It’s either a finger in the air punt long ago and hodl’ing.

Or it was sticking mega money in there relatively recently at great risk.

Ie, after 2017 it sat in doldrums until the pandemic free money dragged everything up. You’d have had to be fairly brave to go buying £50k worth then to have £500k-£760k ish now.

The only strategy I could have stomached was cost averaging in… but again that only works if you cash out… and till you do it could still become worthless.

Hindsight investing is a piece of piss.

As it stands I'm up about 77%. Bitcoin only. I could trade in and out, but I have better things to do with my time than watch charts and track price action. Not spectacular returns, I used DCA and also opportunistic buying at lows, to average into a significant portion of my networth at this point. I don't expect anything more than potentially a 2-3x this cycle. If it surprises to the upside I will take advantage of that and DCA out a portion of my BTC.

[Blown2CV]

g4ry13 said:

Blown2CV said:

Seventyseven7 said:

Blown2CV said:

Mr Whippy said:

Seventyseven7 said:

I've shared my portfolio in this thread multiple times for reference. I notice you pick and choose who to reply to, and often ignore any questions around making money in investing yourself. You’ve probably missed my portfolio posts up there on your high horse, so for your reference:

I’ve made over £500,000 from ‘crypto’ - that means, profits withdrawn (and CGT paid on it) - I currently have an open portfolio sitting just over 600k USD. Happy to share screenshots if you want to see more.

But must be ‘horsest’ right?

Now let me see your portfolio.

Yes great but how much did you start with?

And did you take a considered risk or just get lucky.

I’m not daft enough to share my finances on here but I made plenty from crypto but it was arguably all by “accident”

he says if he was a gambler he'd be the luckiest one in history so maybe he started with a quid 15 years ago.

Whether I started with 10k or 100k, you wouldn’t want to acknowledge or listen as it doesn’t fit your narrative. Good luck with your own investments, hope you make some good returns.

the only way you could have made that much in BTC is if you got in early. Then it's not quite a skill, or a fantastic investment opportunity is it? It's not like someone can come in and put £10k down and expect to make half a million quid is it? Barely break even over last couple of years?

He said 'crypto'! Why are you only talking about BTC?!?

You do realise that within the last 15 months or so that Solana has increased by about 17x? It wasn't getting in early by any means, it was a case of being brave to buy then.

whatever, crypto then. Same point.

[Seventyseven7]

You’re very bitter that people are making money. World’s against you, isn’t it.

First purchased any crypto (it was Neo) in December 2020, was around £2,000 I put in at the time. First time I ever purchased any Bitcoin it was around £43,000 in price in 2021. (It was as low as 13k in 22)

Most recently purchased Solana at $135 earlier this year, sold it at $168 4 days ago. Could buy a nice all inclusive holiday for the family with the profits and not have to worry about it….

[g4ry13]

Blown2CV said:

g4ry13 said:

Blown2CV said:

Seventyseven7 said:

Blown2CV said:

Mr Whippy said:

Seventyseven7 said:

I've shared my portfolio in this thread multiple times for reference. I notice you pick and choose who to reply to, and often ignore any questions around making money in investing yourself. You’ve probably missed my portfolio posts up there on your high horse, so for your reference:

I’ve made over £500,000 from ‘crypto’ - that means, profits withdrawn (and CGT paid on it) - I currently have an open portfolio sitting just over 600k USD. Happy to share screenshots if you want to see more.

But must be ‘horsest’ right?

Now let me see your portfolio.

Yes great but how much did you start with?

And did you take a considered risk or just get lucky.

I’m not daft enough to share my finances on here but I made plenty from crypto but it was arguably all by “accident”

he says if he was a gambler he'd be the luckiest one in history so maybe he started with a quid 15 years ago.

Whether I started with 10k or 100k, you wouldn’t want to acknowledge or listen as it doesn’t fit your narrative. Good luck with your own investments, hope you make some good returns.

the only way you could have made that much in BTC is if you got in early. Then it's not quite a skill, or a fantastic investment opportunity is it? It's not like someone can come in and put £10k down and expect to make half a million quid is it? Barely break even over last couple of years?

He said 'crypto'! Why are you only talking about BTC?!?

You do realise that within the last 15 months or so that Solana has increased by about 17x? It wasn't getting in early by any means, it was a case of being brave to buy then.

whatever, crypto then. Same point.

Then whatever, you're clearly wrong and should do better to educate yourself before coming out with such claims.

[ooid]

Seventyseven7 said:

I agree there was a problem using profits from crypto just a few years ago, but I managed to do it in 2021 and it’s much easier now. I can name 3 solicitors in Surrey that you could use if needed. PM me and I can send you details if needed for your friend.

Yes thanks I remember now you mentioned about your situation in this thread, but yours was different? You basically payed off your remaining mortgage with your crypto earnings.

What I am asking, buying a property in U.K. and using debt. Part (or all) of your deposit will come from crypto earnings. Apparently, this is not possible, partly lenders do not accept this route and leave conveyancing to do all AML checks, if there is any issue all risk on them not on the lender so their insurance does not cover.

[dimots]

ooid said:

Yes thanks I remember now you mentioned about your situation in this thread, but yours was different? You basically payed off your remaining mortgage with your crypto earnings.

What I am asking, buying a property in U.K. and using debt. Part (or all) of your deposit will come from crypto earnings. Apparently, this is not possible, partly lenders do not accept this route and leave conveyancing to do all AML checks, if there is any issue all risk on them not on the lender so their insurance does not cover.

It is possible as long as you can prove the source of funds. Just like it is possible to use a suitcase full of notes as long as you can explain where they came from. If you can't, and you have a completely unexplainable chunk of crypto or cash that seems to have appeared from nowhere...you will be hampered by AML checks.

This isn't some mysterious quirk of cryptocurrency you know

[Mr Whippy]

g4ry13 said:

Then whatever, you're clearly wrong and should do better to educate yourself before coming out with such claims.

Oh come on.

Not long ago BTC was the dead duck and some new crypto and NFTs were the next big thing.

Then suddenly everyone shat their pants at crypto taking a bath.

The entire space is interchangeable on terminology, like it or not, because it’s all just speculative based on the same ideas which have been swirling for 15 years… blockchain… despite it having actually gone nowhere except worse as nearly all methods of payment now are just via a 3rd party into fiat.

[ooid]

dimots said:

It is possible as long as you can prove the source of funds.

Well, I'm still waiting for a real life example here..

[dimots]

ooid said:

Well, I'm still waiting for a real life example here..

You have had examples. What are you expecting, notarised documentation? You're more difficult than your imaginary solicitor.