Crypto Currency Thread (Vol.2)
Discussion
jammy-git said:
I'm not sure I would buy crypto and ignore for a year. The whole crypto market is feeling very "bubbly" right now and I suspect we'll see another bubble burst at some stage over the next 12 months. I'm sure it'll recover again afterwards, but it may mean your 12 month investment has to turn into a 3-5 year investment.
i remember all those that bought at the last peak then it dropped , moaning then cutting their losses. if they had just held it they would have done well. i think most people lose because they sell. Better wait, unless it is a s
tcoin like i usually buy.MrChips said:
Any recommendations for youtube channels to keep an eye on?
I mentioned some channels about a couple of months back. The problem I have is that even by the time they get mentioned (which results in a predictable price pump by the viewers), they have usually already done a 10x or 100x from starting under a cent. That's not to say they aren't good projects and aren't going to do another 10 or 100x but I find that I don't have the patience to wait and watch the price bounce around not really doing anything for the next few months.I paid the early access sub to Tony's channel (JRNY) and there's no doubt I made good profits on his calls before mentioning them on his public youtube but over time the calls have been 'weaker' and many already mentioned by other channels so the gains haven't materialised. I've cancelled the sub now (he doesn't offer them now anyway).
You can still make decent gains if you have an exchange balance ready to go when these big crypto channels release a new video and mention the coin names - they nearly always jump by anywhere from 10 to 100% in a short time, but you need to be early. If it's over 2 hours since the video went live then your potential for nice gains shrink rapidly.
I've started dabbling with brand new projects on the BSC. 99.8% of them are copycat scams, but there is still money to be made if you can get in right at the start and then cash out with someone else's money AND before the dev rugs you
. It's been a huge baptism of fire and I've lost nearly $600 over the past week to rugs and scams because I didn't know what to look for, but also made a nice 3500% profit on Sensible Finance last week and 1.5 to 2x on a bunch of others so am still well up overall.But this is pure gambling and definitely not for the inexperienced. I've probably spent about 20 hours reading old reddit posts and learning about it. It requires tedious reading of the bscscan contract code looking for red flags, checking the main wallets and amounts for signs of a likely rug, checking that the LP is locked, checking how much of the supply has been burnt, asking the dev(s) questions on their TG channel, how old their website domain is, whether the project has any use case and a whole bunch of other stuff.
Even after all that and you decide to take a punt, you then find you can't sell as the dev has put a smart contract on top of the project locking your money in. When it expires (which you've no idea when) they steal and empty your wallet then disappear. The ones that you can get your money out of, if you've made decent gains you find that there isn't enough liquidity to sell and it will only let you sell in batches. After each batch obvioiusly the price goes down, so you don't realise as much gains as you were hoping for. Then there's the slippage fee which is typically around 12%, plus your PancakeSwap fee, but still cheaper than using ETH/Uniswap
Classic rug. I lost about $80 (bought a couple of dips) on this as I fell asleep :
The warning signs were there in the contract (along with the project name) but I didn't know what I was doing back then.
A gamble that paid off :
I got in about 5 mins after it was announced and cashed out with 3500% gains on the first big dip. Obviously you've no idea at the time whether it's going to zero or is going to bounce back. I just wish I'd put it more than $100.
And yes I prefer lines instead of candles, deal with it
.I still think for most joe averages you'll do decent 'safe' gains from the top 10 coins in the medium to long term and if you combine that with a selection of youtube subs for up and coming altcoin alerts you'll do pretty good, but patience is the key. If you can stake them as well then that's some nice passive income on top (plenty of videos about crypto passive income). My tip for staking would be to not focus on the higher APY payers as these don't necessarily equal biggest profits. Eg. if ABC coin averages gains of 5% a year but pays 25% APY you might be tempted to stake that instead of XYZ coin which averages 20% a year gains but only pays 15% APY for staking it.
C n C said:
Currently have ADA, VET, and DOT, and as even more of a small punt on low valued ones, HOT, DENT and BTT. The last 3 for no other reason that at the time I liked the look of the graphs!
Think I may HODL these and see where they are when this thread reaches 500 pages (probably will have gone to zero)!
DENT had mileage for me, any rationale for the dip at the moment? Think I may HODL these and see where they are when this thread reaches 500 pages (probably will have gone to zero)!
I've got a few VET as well, it just seems too good to be true with the likes of salesforce being interested lol
g4ry13 said:
I'm itching to offload QTUM and Stellar Lumens.
Based on my recent history with LINK that probably means they're about to moon the minute I close.
I'm just looking at the live LINK chart right now Based on my recent history with LINK that probably means they're about to moon the minute I close.
. As usual, I wish I'd bought more 
.Remember how the crypto cycles tend to work : top 10 go up, alts lag, people take profits and put them into alts. Alts go up as top 10 cool off. Then when alts get toppy, people take profits and put them into the top 10. Rinse and repeat. That's why as a whole, excluding a handful of outliers, alts aren't performing too well at the moment. When the top 10 cool off, you'll see them rise.
People keep making the same mistakes over and over : chasing big green dildos on the charts when the coin is in a bubble. Unless you catch it super early, it won't end well for you and you'll have to wait until the next bull cycle to even break even which could be years away. Look for 7 day reds on the charts, not greens. When no-one is talking about them because they are down, that is the time you want to be getting in then be patient.
If you don't want to chase reds, stick it in ADA, BNB, ETH <spits> and BTC and stake them for extra income. They're all going up for the foreseeable future, even ETH which is completely worthless in terms of actual use currently but it refuses to die
and even I am forced to concede it will still go up simply because there are about 10 trillion fanboys behind it.As you guys seem to all use Binance, I signed up for it myself, and deposited a few quid. I've bought in on something with the GBP in my wallet, but I can't see how to sell without it selling and depositing BNB coins.
I dont mind how its paid, but how, in the long run, do you cash these for GBP? I dont quite get it
I dont mind how its paid, but how, in the long run, do you cash these for GBP? I dont quite get it
DeanR32 said:
As you guys seem to all use Binance, I signed up for it myself, and deposited a few quid. I've bought in on something with the GBP in my wallet, but I can't see how to sell without it selling and depositing BNB coins.
I dont mind how its paid, but how, in the long run, do you cash these for GBP? I dont quite get it
It all depends on the trading pair you’re buying a certain coin with.I dont mind how its paid, but how, in the long run, do you cash these for GBP? I dont quite get it
For example to buy VET you’d deposit GBP then buy BTC. You’d then use your BTC to buy VET. To cash out is the reverse - sell your VET for a coin that has a GBP pair, e.g BNB, BTC or other. You then sell that paired coin for GBP. Worth noting that each of these transactions is subject to capital gains tax.
PH4555 said:
g4ry13 said:
I'm itching to offload QTUM and Stellar Lumens.
Based on my recent history with LINK that probably means they're about to moon the minute I close.
I'm just looking at the live LINK chart right now Based on my recent history with LINK that probably means they're about to moon the minute I close.
. As usual, I wish I'd bought more .Remember how the crypto cycles tend to work : top 10 go up, alts lag, people take profits and put them into alts. Alts go up as top 10 cool off. Then when alts get toppy, people take profits and put them into the top 10. Rinse and repeat. That's why as a whole, excluding a handful of outliers, alts aren't performing too well at the moment. When the top 10 cool off, you'll see them rise.
People keep making the same mistakes over and over : chasing big green dildos on the charts when the coin is in a bubble. Unless you catch it super early, it won't end well for you and you'll have to wait until the next bull cycle to even break even which could be years away. Look for 7 day reds on the charts, not greens. When no-one is talking about them because they are down, that is the time you want to be getting in then be patient.
If you don't want to chase reds, stick it in ADA, BNB, ETH <spits> and BTC and stake them for extra income. They're all going up for the foreseeable future, even ETH which is completely worthless in terms of actual use currently but it refuses to die
and even I am forced to concede it will still go up simply because there are about 10 trillion fanboys behind it.Most of my money is in "solid" projects. I'm not overly familiar with staking, but not in a rush to stake my ETH on Kraken + the gas fees i hear about. Am I right you need to have 32 ETH to stake on your own? I must be leaving some money on the table by not staking my crypto (aside from the DOT).
Sold a few of my QTUM just now + 25% of my DASH holding. Time to buy!
Edited by g4ry13 on Thursday 15th April 23:35
DeanR32 said:
As you guys seem to all use Binance, I signed up for it myself, and deposited a few quid. I've bought in on something with the GBP in my wallet, but I can't see how to sell without it selling and depositing BNB coins.
I dont mind how its paid, but how, in the long run, do you cash these for GBP? I dont quite get it
Say you'd bought VED, or any other alt coin, when you sell it, you can choose whichever trading pair you want. I dont mind how its paid, but how, in the long run, do you cash these for GBP? I dont quite get it
As there isn't a VED-GBP trading pair, you'd trade it for BNB (or BTC), doesn't really matter, then in the spot market listings, click on the FIAT tab and open the BNB-GBP (or BTC-GBP) trading pair and use that to convert it into GBP, which you can then withdraw to your bank account.
Bin1 by conradsphotos, on FlickrThis crypto is a licence to print money. Made well over 5 figures. Put a couple of grand into tether just in case the market dips.
At the minute I've been getting into IDO's (pre-sales) through Polkastarter, Paid, Cyber Fi etc. For example Polkastarter is a raffle type thing you need 3000 POLS to enter. I got in at about £1k. Now for 3000 POLS it costs over $13k. You have around a 10% chance of getting chosen for an IDO. Sounds a crazy amount of money for such a small amount right?!........however I've entered about 17 of these IDO's (such as SuperFarm, Unmarshall, Polkamon,etc). Out of the 17 been chosen for 5. Obviously $13k is too much money to get in now so you've missed the boat unless you got in early like I did. Essentially what I'm saying is you need to find another Paid, another Polkastarter, early before it gets to expensive.
When you are whitelisted you get a maximum $300 allocation. Sounds fk all right?! That $300 turns into between $10k-$20k because you are getting almost the same price as the investors and once they are launched on Uniswap they go on the exchanges at x50 what you paid.
So essentially what I'm saying is you need to get on these Launchpads early if you want to make decent money. Also buy low cap gems on Uniswap before they hit the big exchanges.
Crypto is risky as fk and basically a Ponzi scheme. The risk reward isn't worth it buying these big cap coins like Tron, XRP even Bitcoin. Less risky then low cap but much higher returns.
Ignore the price of something. Look at the market cap! If you put £100 in Bitcoin, if it goes up to $120k Bitcoin you make....£100. So go for lower market caps.
Cellframe is the best low cap Gem out there imo that could one day rival Polkadot. Only $20 million Market Cap but already has 2 projects built off it KelVPN and Cellpad. Has massive VC investors and a Parachain auction coming up. It's like Polkadot and Kusama but 1000x cheaper.
For those that have missed Paid, Polkastarter you need to look for the next launchpad. Finminity is a good one. Massive massive VC backed yet still only $7 million MC. The tiers haven't been announced yet but worth loading up to 500 which should be enough. Genesis Shards came out yesterday from Polkastarter. Price dumped already. NFT project, big VC backers and what alot of people don't know is they will be launching an NFT launchpad which will be the first of its kind. Once the mass market find out the price will explode. Only a 20 million MC.
Crypto is risky as anything. Obviously the higher the market cap the safer the investment but lower the gains. Imo if you want safer investments stick to stocks. I wouldn't buy anything in the top 50 as the gains will be too small. Stick to midcaps and small caps, taking profits on a regular basis.
My thoughts anyway.
At the minute I've been getting into IDO's (pre-sales) through Polkastarter, Paid, Cyber Fi etc. For example Polkastarter is a raffle type thing you need 3000 POLS to enter. I got in at about £1k. Now for 3000 POLS it costs over $13k. You have around a 10% chance of getting chosen for an IDO. Sounds a crazy amount of money for such a small amount right?!........however I've entered about 17 of these IDO's (such as SuperFarm, Unmarshall, Polkamon,etc). Out of the 17 been chosen for 5. Obviously $13k is too much money to get in now so you've missed the boat unless you got in early like I did. Essentially what I'm saying is you need to find another Paid, another Polkastarter, early before it gets to expensive.
When you are whitelisted you get a maximum $300 allocation. Sounds f
k all right?! That $300 turns into between $10k-$20k because you are getting almost the same price as the investors and once they are launched on Uniswap they go on the exchanges at x50 what you paid.So essentially what I'm saying is you need to get on these Launchpads early if you want to make decent money. Also buy low cap gems on Uniswap before they hit the big exchanges.
Crypto is risky as f
k and basically a Ponzi scheme. The risk reward isn't worth it buying these big cap coins like Tron, XRP even Bitcoin. Less risky then low cap but much higher returns.Ignore the price of something. Look at the market cap! If you put £100 in Bitcoin, if it goes up to $120k Bitcoin you make....£100. So go for lower market caps.
Cellframe is the best low cap Gem out there imo that could one day rival Polkadot. Only $20 million Market Cap but already has 2 projects built off it KelVPN and Cellpad. Has massive VC investors and a Parachain auction coming up. It's like Polkadot and Kusama but 1000x cheaper.
For those that have missed Paid, Polkastarter you need to look for the next launchpad. Finminity is a good one. Massive massive VC backed yet still only $7 million MC. The tiers haven't been announced yet but worth loading up to 500 which should be enough. Genesis Shards came out yesterday from Polkastarter. Price dumped already. NFT project, big VC backers and what alot of people don't know is they will be launching an NFT launchpad which will be the first of its kind. Once the mass market find out the price will explode. Only a 20 million MC.
Crypto is risky as anything. Obviously the higher the market cap the safer the investment but lower the gains. Imo if you want safer investments stick to stocks. I wouldn't buy anything in the top 50 as the gains will be too small. Stick to midcaps and small caps, taking profits on a regular basis.
My thoughts anyway.
Edited by donnie85 on Thursday 15th April 23:53
PH4555 said:
EFH189 said:
Holding around 2k Polygon / Matic since it launched a month or so ago on Coinbase Pro. Only threw a notional stake at it and will check its value every 12 months and take a view. No idea what it does and don’t really care, but it seems most coins rise significantly in value over time.
So many regrets over selling my ETH at £200 for a 20% profit. I had thousands invested in that, typical short-sightedness on my behalf.
MATIC is a scalability solver, mainly created for the ETH network. The trouble is that it has DOT, ATOM and AVAX as competitors. I was bullish on it earlier in the year but never got as far as putting any money in. Wish I had as it's 5x'd since then but if you only bought in a month ago you've bought the top.So many regrets over selling my ETH at £200 for a 20% profit. I had thousands invested in that, typical short-sightedness on my behalf.
PH4555 said:
I'm a bit surprised that the hype was only short-lived here. Maybe most of the viewers are already bag-holders as he has done a video on it before, 9 months ago.
Easy to understand videos only attract a number of people. I'd done research on VET before seeing these videos he has done.
I think he got his presenting style from hale and pace haha
https://www.youtube.com/watch?v=gtOXuswL4rc
I have been playing with this for a couple of weeks now without making any actual transactions. Just by keeping a spreadsheet of the transactions I would have made if I had been brave enough.
Pretty sure I have the hang of it now and will pump some money in next week when some funds come available from an old investment.
Glad to live somewhere with no capital gains tax right now.
Pretty sure I have the hang of it now and will pump some money in next week when some funds come available from an old investment.
Glad to live somewhere with no capital gains tax right now.
DOGE is around 25 cents. I had a look back at the chart from a few years ago and that's basically a 120x return. 
All for some meme coin.
Last night I offloaded about half my QTUM, 25% of my DASH and ~20% of my Stellar holding so have a bit of cash to throw at something. Only DASH is higher this morning. My DOT staking reward came in this morning (~0.3 DOT. This week i've made 0.75 DOT from staking which is something I guess - wish i'd staked it earlier tbh)
With the way the market is, I may hang on to the cash for a few days and wait for a day where things drop 10%. I see XRP has been going down a little bit but can't stomach buying it over $1.
All for some meme coin.Last night I offloaded about half my QTUM, 25% of my DASH and ~20% of my Stellar holding so have a bit of cash to throw at something. Only DASH is higher this morning. My DOT staking reward came in this morning (~0.3 DOT. This week i've made 0.75 DOT from staking which is something I guess - wish i'd staked it earlier tbh)
With the way the market is, I may hang on to the cash for a few days and wait for a day where things drop 10%. I see XRP has been going down a little bit but can't stomach buying it over $1.
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