Crypto Currency Thread
Discussion
Might be a bit too early to call it but I think the crypto mania is over. Lot's of people piled in over the holidays and most of the "amateur investors" would have got burned. I'm lucky that I got in months ago so I'm still up overall but I really can't see it recovering properly from this with bad news about tightening up controls coming out almost daily now. The wind has been well and truly taken out of it's sails.
I'm seriously tempted to cash in on the next upswing and take my modest profits out while I can.
I'm seriously tempted to cash in on the next upswing and take my modest profits out while I can.
Behemoth said:
CzechItOut said:
Personally, I wouldn't want a stranger who wants to buy bitcoin for "cash" either depositing or transferring money directly into my bank account, as this is a recipe for inadvertently getting caught up in money laundering
You may trigger AML from your bank if unusual sums appear on your account, but if you're just carrying on with your normal volume/value of activity and buy/sell with a long term highly trusted individual, nothing should trigger. You can also demand sales only to people that use a real name & fully verify. You would only then have a problem if you were actually trying to launder your own money. By using a service which buys/sells an asset with a third party trusted entity, what wrong have you committed that will get you into trouble with AML?The risk levels associated with various tx methods are well explained in localbitcoin's FAQs https://localbitcoins.com/guides/how-to-sell-bitco...
btw, a similar escrow P2P service is https://bitbargain.co.uk/ . They've been around a (relatively for Bitcoin) long time & is where I first bought BTC. Sellers on there have to do a lot of verification and even have to pass a seller's exam.
I have never heard anyone have any problems with Localbitcoins.
Guvernator said:
Might be a bit too early to call it but I think the crypto mania is over. Lot's of people piled in over the holidays and most of the "amateur investors" would have got burned. I'm lucky that I got in months ago so I'm still up overall but I really can't see it recovering properly from this with bad news about tightening up controls coming out almost daily now. The wind has been well and truly taken out of it's sails.
I'm seriously tempted to cash in on the next upswing and take my modest profits out while I can.
I agree that the majority of people who piled in over the last two months have lost money, me being one of them. Invested £1150, was at one point £550 up, cashed out with £1019 when bitcoin was still £12k. If I had stayed in I would have been even worse off. Thank god I was limited to £500 a week as I suspect I would have gambled a lot more if I could.I'm seriously tempted to cash in on the next upswing and take my modest profits out while I can.
I am not the right type of person for this, buying when a coin went up and selling when it went down, I suspect a lot of newbies made this mistake. I agree, if you can time the market right you can make a lot of money but to me this seems like complete guesswork.
Wonder how many people piled into BTC when it was nearly $20k and XRP when it was $3.50? The whole market is manipulated, the whales are making a lot of money out of the mug newbies.
I am hearing rumors of a potential Btc correction back to around the 5k mark around the weekend so I am currently cashed out to USD and just watching and waiting.
I am missing out on the run that VEN is enjoying but atleast I know if it all crashes I won't get caught out.
I figure protecting your capital is just as important as chasing gains sometimes!
I am missing out on the run that VEN is enjoying but atleast I know if it all crashes I won't get caught out.
I figure protecting your capital is just as important as chasing gains sometimes!
Shuvi McTupya said:
I am hearing rumors of a potential Btc correction back to around the 5k mark around the weekend
BTC price isn't like the weather where you can see fronts moving in. I am curious as to origins of these rumours that can predict a price in 5 days time. I get the up/down predictions but around specific prices, less so.
Badda said:
BTC price isn't like the weather where you can see fronts moving in. I am curious as to origins of these rumours that can predict a price in 5 days time.
I get the up/down predictions but around specific prices, less so.
Plenty of analysis out there..... Whether you believe it or not...I get the up/down predictions but around specific prices, less so.
https://www.tradingview.com/chart/BTCUSD/KRIcrA27-...
Badda said:
BTC price isn't like the weather where you can see fronts moving in
That made me laugh. True though - price predictions are a load of old tosh.
The less 'research' you do on crypto, the better. Well, that's not actually true but with so much nonsense stories flying around, most of it from people self serving, best not reading anything at all!
Badda said:
BTC price isn't like the weather where you can see fronts moving in. I am curious as to origins of these rumours that can predict a price in 5 days time.
I get the up/down predictions but around specific prices, less so.
There is strong support at 5k and not much between where it is now and the 5k mark so a serious drop would likely stop around there.I get the up/down predictions but around specific prices, less so.
I am not suggesting that is what is going to happen but I do think the person I heard it from has a good idea of what could potentially happen. There are no guarantees but it doesn't do any harm to prepare.
The Spruce goose said:
in a the past 4 weeks, xrp have released 2k coins, they usually release 300 million. Why would they do that do you think? yet the price still tumbles.
That's interesting. So TSG, you don't have any XRP..... Do you?I think ripple might be dead. Maybe time to move to another alt coin
Any one recommend any others for a long hold position?
Guvernator said:
I have a small amount of Ripple and Tron. The thing is for me at least there is no point in cashing out now as I'd get bugger all back. For the few hundred quid I'd get back, I'd rather just let it ride and see what happens.
In retrospect, it looks like the smart money got out of these a few weeks ago.If the graph follows every other bubble in history I can only see all cryptos going down over the next few months.
In the last month we have had :
BTC - £14355 to £7451 today (peak was 17/12/2017)
ETH - £975 to £686 today
LTC - £254 to £123 today
XRP $3.50 to $1.16 today
XLM $0.90 to $0.44 today
Half again in the next month?
Too Late said:
That's interesting. So TSG, you don't have any XRP..... Do you?
I think ripple might be dead. Maybe time to move to another alt coin
Any one recommend any others for a long hold position?
no,a coin i would never buy. xrp has value though million txs a day.the issue is the LN may take away its niche.I think ripple might be dead. Maybe time to move to another alt coin
Any one recommend any others for a long hold position?
Edited by The Spruce goose on Monday 22 January 16:14
Too Late said:
Any one recommend any others for a long hold position?
XMR, too long undervalued imo.
Grin, which uses MimbleWimble & won't be out until 2019 probably. Grin is serious stuff. You won't find showboating snake oil salesmen, premining ICOs or any of that nonsense. Hardcore techheads that will deliver a proper functioning product.
Bitcoin Private, which is an upcoming fork using zk-snarks from ZClassic & unlike most BTC forks offers something truly novel and needed + has some serious thinking behind it.
Joey Deacon said:
So what is causing the current drop? Hats off to anyone who is making money out of this craziness.
Is it not the bubble popping? If it is and it follows the textbook graph then "return to the mean" would probably be around $5000 plus/minus a few thousand with a few seconds look.Joey Deacon said:
In retrospect, it looks like the smart money got out of these a few weeks ago.
If the graph follows every other bubble in history I can only see all cryptos going down over the next few months.
In the last month we have had :
BTC - £14355 to £7451 today (peak was 17/12/2017)
ETH - £975 to £686 today
LTC - £254 to £123 today
XRP $3.50 to $1.16 today
XLM $0.90 to $0.44 today
Half again in the next month?
Possibly, I still think both Ripple and Tron have interesting technical roadmaps and if they deliver on some of those, could actually have a real world use hence real value rather than just being a speculative investment asset.If the graph follows every other bubble in history I can only see all cryptos going down over the next few months.
In the last month we have had :
BTC - £14355 to £7451 today (peak was 17/12/2017)
ETH - £975 to £686 today
LTC - £254 to £123 today
XRP $3.50 to $1.16 today
XLM $0.90 to $0.44 today
Half again in the next month?
At any rate it's a risk I'm willing to take, if they both go under I've lost a few hundred quid, hardly a life changing amount but if I'm right then long term they may be a good bet.
As I read in an article yesterday, we are looking at something similar to the dot.com bubble all over again, MANY will fall by the wayside but a few will find a real world use and be adopted as the industry standard, the difficulty at the moment is trying to pick the Google, Amazon or Facebook rather than the Alta Vista or MySpace.
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