Crypto Currency Thread

[njr911]

I have a spare on you can buy of me for a ETH coin

[anonymous-user]

For a bank to use ripple tech it has to buy 3000 (or 300) ripple coins that is it. the rest of the price is pure speculation. they don't even use the coin itself in day to day transaction. Ripple labs can sell a billion coins a month.

[guindilias]

True, but as with the Bitcoin believers, you get people who can only ever see one side of things and will keep pumping XRP as "the new bitcoin". I see litecoin, eth, and a couple of other alt coins have dropped abot 8% overnight!

[guindilias]

And now everything has bounced back up again - And higher! Talk about volatile...

[njr911]

Tanking again

[MKA29]

WitnessProtection said:

Certainly on a wild old ride at the moment. Hope nobody had piled into NEO of late.

I put £40 on neo a few weeks back, was gonna follow suit with a £300 buy once I got the hang of this crypto but thank god i didn't.

After the news in China I think I'm gonna hold fire on crypto for a bit. No telling what this regulation involves and who else will follow suit

[guindilias]

Aaaaaand back up again.

[okgo]

But why?

How can anyone seriously put large sums into this if it follows no rationale?

[anonymous-user]

okgo said:

But why?

How can anyone seriously put large sums into this if it follows no rationale?

this is the thing, the new people are very nervous, ive seen the market drop 30 billion in a day. one of my coins did nearly 100% in a day, unfortunately after i had sold the bulk. ive made nearly 100% on another coin today, that is how the market is. my investment is pretty small and i take profit so not a hodler.

[guindilias]

okgo said:

But why?

How can anyone seriously put large sums into this if it follows no rationale?

People panicked and sold when China announced an upcoming ban on ICOs - so the cryptos all tanked. Then they were at such a low that people bought in huge bulk, so the price goes back up again - which encourages MORE people to buy in... it's a pretty nonsensical market, but there is money to be made!

[okgo]

How is this any different from people trading small fluctuations in oil or whatever else? Which is generally regarded on here as a very good way to lose a lot of money...

[Behemoth]

okgo said:

How is this any different from people trading small fluctuations in oil or whatever else? Which is generally regarded on here as a very good way to lose a lot of money...

The fluctuations are pretty big, actually. But I agree with you. It is pointless trying to day trade in this space. Even with deep knowledge, there is no anticipating the fundamentals that swing in every few months. Longer term valuations are a different matter.

[okgo]

I chucked £300 at it the other week, just as that is the only way it will keep my attention, and its all over the place, mad.

[Behemoth]

okgo said:

I chucked £300 at it the other week, just as that is the only way it will keep my attention, and its all over the place, mad.

A few weeks is nothing. Ignore the short term noise unless you're an habitual gambler type.

[CzechItOut]

I bought £300 worth of BitCoin back in May 2016 and got about 0.876 BTC in total.

I sold it the following month and bought Ether when it was about £8/ETH. In total I am holding about 38.35 ETH.

[okgo]

Behemoth said:

A few weeks is nothing. Ignore the short term noise unless you're an habitual gambler type.

Yes, I didn't mean I was going to take the cash, just that having money in there keeps me interested

[Maxf]

CzechItOut said:

I bought £300 worth of BitCoin back in May 2016 and got about 0.876 BTC in total.

I sold it the following month and bought Ether when it was about £8/ETH. In total I am holding about 38.35 ETH.

Good return!

Chap who told me about BTC originally apparently had about £40k worth in 2015... so I guess around £800k today. I wish I'd listened to him.

[tescorank]

Thinking of buying bitcoin through Hargreves on GBTC is this a good way to go?

http://www.hl.co.uk/shares/shares-search-results/b...

[Behemoth]

tescorank said:

Thinking of buying bitcoin through Hargreves on GBTC is this a good way to go?

http://www.hl.co.uk/shares/shares-search-results/b...

~80% premium over buying actual bitcoins you own. Expensive just for the convenience of your familiar platform. Any other reason you'd want to do that?

[bloomen]

tescorank said:

Thinking of buying bitcoin through Hargreves on GBTC is this a good way to go?

http://www.hl.co.uk/shares/shares-search-results/b...

That route throws volatility on top of more volatility. Its premium over the Bitcoin price has fluctuated from near zero to over double. It'll also become toast if a better option ever emerges such as a proper ETF. The premium dropped 20% when a more ETF friendly person was announced to join the SEC.