Bitcoin and the crypto currency world - what do you think?

[limpsfield]

At the start of this thread is was around $17,000. It touched $19,760 and now it’s around $10,000.

But we’ve all made money, right?

[Shuvi McTupya]

limpsfield said:

At the start of this thread is was around $17,000. It touched $19,760 and now it’s around $10,000.

But we’ve all made money, right?

Nope, I started buying and selling a bit of crypto (Alts) around the time this thread started and as of this moment I am probably about even.

Had I bought BTC I would obviously be quite a bit down..but had I known what I was doing I would still be showing a profit. I have been making plenty of bad decisions!

Edited by Shuvi McTupya on Wednesday 17th January 05:09

[sc0tt]

Bought at $7k sold at $10k

Its not money I cant afford to lose and it paid for a few nights out.

[Shuvi McTupya]

sc0tt said:

Bought at $7k sold at $10k

Its not money I cant afford to lose and it paid for a few nights out.

Sold at 10k previously, or in the last day?

[sc0tt]

Shuvi McTupya said:

Sold at 10k previously, or in the last day?

Previously.

[HannsG]

I bought TRX at 1am on Tuesday and my investment has doubled.

Last time I saw such a rocketship was when I was in AIM exploration companies. But I had to wait months to see such an increase.

I will be holding till it gets to $1

Edited by HannsG on Friday 19th January 10:27

[Luke.]

HannsG said:

I bought TRX at 1am on Tuesday and my investment has doubled.

Last time I saw such a rocketship was when I was in AIM exploration companies. But I had to wait months to see such an increase.

Have you sold them now?

[HannsG]

Luke. said:

Have you sold them now?

Nope. I'm holding onto them

[bongtom]

HannsG said:

I bought TRX at 1am on Tuesday and my investment has doubled.

Investment.

[rufusgti]

I’ve been met with lots of giggling and sneering from friends and colleagues who know I had money in bitcoin this week. It’s certainly been a reminder of the volatility. I bet some people lost a big chunk of money, it goes to prove you really shouldn’t have your eggs in one basket or have money you can’t afford to lose in crypto.
Luckily the most I ever payed for a bitcoin was £700 and the lowest was £90. So I can take the friendly jeering from friends at the moment. Seems to be heading back up now, I expected it to fall back a little more and it probably still will. It’s still been a staggeringly good investment over 12 Months. But I’d understand anyone looking at it now and thinking I’m crazy. Which is a good thing. Unless people can sit out these massive corrections, or better still buy into them it’s not going to be easy.

[anonymous-user]

A quarterly newsletter from a US fund manager that I have used waxes lyrical about crypto

You can, if you wish, read it here

https://www.morgancreekfunds.com/wp-content/upload...

[Ridealong]

I bought 50 Ethereum tracker shares when I thought they had bottomed out in March (€30.79), I was looking hold them for a while and in a space of 5 to 6 weeks it rose to €63.79 then slowly moved downwards. After the story about the South Korean exchange hack (10th June) I decided to sell them and got €42.55 per share, approx £500 profit after fees and exchange rate fees, today they closed at €36.95.

[CzechItOut]

Ridealong said:

I bought 50 Ethereum tracker shares when I thought they had bottomed out in March (€30.79), I was looking hold them for a while and in a space of 5 to 6 weeks it rose to €63.79 then slowly moved downwards. After the story about the South Korean exchange hack (10th June) I decided to sell them and got €42.55 per share, approx £500 profit after fees and exchange rate fees, today they closed at €36.95.

You did well there and it shows that there is still some money to be made in crypto. The problem is your spectacular timing is hard to replicate consistently and as you say, if you'd have bought in early May you'd be looking at a 50% loss compared to today's price.

The days of 100x profits are long gone and the risks far outweigh the potential gains in my opinion.

[anonymous-user]

CzechItOut said:

Ridealong said:

I bought 50 Ethereum tracker shares when I thought they had bottomed out in March (€30.79), I was looking hold them for a while and in a space of 5 to 6 weeks it rose to €63.79 then slowly moved downwards. After the story about the South Korean exchange hack (10th June) I decided to sell them and got €42.55 per share, approx £500 profit after fees and exchange rate fees, today they closed at €36.95.

You did well there and it shows that there is still some money to be made in crypto. The problem is your spectacular timing is hard to replicate consistently and as you say, if you'd have bought in early May you'd be looking at a 50% loss compared to today's price.

The days of 100x profits are long gone and the risks far outweigh the potential gains in my opinion.

Agree, I bought BTC and LTC in November and during the craziness of December and was about 40% up. I ended up selling up in January at a 10% loss and have not regretted selling for a second.

Everybody was desperately trying to predict the next BTC and buying any hyped coin (TRX,FUN,XLM,ADA,XRP etc.) in the hope of 100x profits in November/December that has all died away as well.

No idea what is going to happen next, it could either slowly die over the next year or stay static for a long period before going up again.

I still don't think there is going to be the December FOMO hysteria again that will cause the price to increase so rapidly.

[Ridealong]

This roller coaster ride is not over yet, I may jump back in when the time/price is right.

I was thinking about buying the Bitcoin version last June when it was all over the news but at €110 per share from €10.55 in Oct 2015, I thought there would not be much more of a rise, it peaked at €796.50 mid December!!!

[rdjohn]

Although I voted Tulips, I think that if I was operating a McMafia operation, I would find it indispensable.

Volatility might be an issue as I would not know who to deal out my retribution on.

[anonymous-user]

Bitcoin Touching $8k (again)

[anonymous-user]

JPJPJP said:

Bitcoin Touching $8k (again)

The interesting thing is that BTC dominance is back up to 46.7%. This implies that people are not prepared to put their money into the 5hit coins and think BTC is going to be one of the coins that survives.

[bloomen]

Joey Deacon said:

The interesting thing is that BTC dominance is back up to 46.7%. This implies that people are not prepared to put their money into the 5hit coins and think BTC is going to be one of the coins that survives.

It's the same every time. People abandon alts when Bitcoin looks like its flexing its muscles. Then when BTC's move is done they pile back into alts and dominance falls again.

When there's another proper bubble the same old human psychology will roll out and people will chase other stuff because it's 'cheap'.

I just hit my fifth anniversary in cryptoland. In some ways it's amazing to see how far it's gotten. In others it's depressing to see the same old moronic behaviour repeat endlessly. It probably always will.

[Behemoth]

bloomen said:

it's depressing to see the same old moronic behaviour repeat endlessly. It probably always will.

Maybe it's just my positive personality, but I see this as a path to making (relatively) easy money.

Talking of irrational behaviours, I think the 10 year anniversary of the Bitcoin blockchain next January may well be unreasonably significant.

Congrats on your 5 years down the rabbit hole, btw