Cryptocurrencies

Discussion in 'Yellow Pages' started by Cassetti's Beard, Jun 2, 2016.

  1. wfcmoog

    wfcmoog Tinpot

    No. Is that purely for trading from/to fiat?
     
  2. Clive_ofthe_Kremlin

    Clive_ofthe_Kremlin Squad Player

    No, they're also allowing Peugeot and Volkswagen I'm hearing...
     
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  3. Aberystwyth_Hornet

    Aberystwyth_Hornet Squad Player

    Seemed to sort itself out, maybe it was just a glitch the night I'd tried
     
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  4. Diamond

    Diamond First Team

    So what's the best way to get into crypto in 2020? Do you just need a Kraken account to do everything?
     
  5. reids

    reids Squad Player

    Kraken or Coinbase is the easiest, (coinbase is easier but have higher fees). I've recently started doing it through Revolut where the fees are also pretty low, but is really easy to use. The downside is you can't actually move your coins anywhere though - but i'm only buying them as an investment so not too fussed that all I can do with them is buy/sell.
     
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  6. wfcSinatra

    wfcSinatra Predictor Choker 14/15

    Strap in. It's flying!
     
  7. wfcmoog

    wfcmoog Tinpot

    Bitcoin heading back towards 2017 ATH levels.

    Glad I'm holding this time, instead of all the sh1tcoins I got sucked into in that boom era.
     
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  8. Arakel

    Arakel First Team

    Bitcoin is dead m8.
     
  9. reids

    reids Squad Player

    I gave up with my remaining crypto back in January as the price had been pretty stagnant for ages. Luckily I didn't do anything with that money, so in March/April with the markets tanking due to Covid thought it was a great time to get back involved so stuck a tenner each into BTC + Eth every week, practically doubled my money now!
     
  10. Arakel

    Arakel First Team

    Remember when Clive posted a thread about Bitcoin "dying on its arse"? I think that was about when it hit rock bottom, in the 1500 range.

    I took that as my signal to buy... and now I get to classify it as capital gains when I sell because I held it for over a year, so only around a 20% tax rate. :)
     
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  11. Teide1

    Teide1 Squad Player

    Might be worth looking at xeth I have invested in it, you get rebases but only positive no negative rebases, from Sunday they are changing to dynamic peg, gone up nearly 80% today but still has a very long way to go, it’s 78 cents now has been as high at 14.5 dollars, will go up this weekend for sure! Dyor if you make anything send me a pm and say thanks! Any questions pm me!
     
  12. Jumbolina

    Jumbolina First Team

    <previous holds when it was going to 500k ignored>
     
  13. wfcmoog

    wfcmoog Tinpot

    For me that was obvious buy time. I didnt have cash at that time though, as I was changing careers and things were tight.

    I kept about a small amount in though. I learned a lot from 2017. If I hadn't got dazzled by shitcoins which promised 100x massive gains against the risk of going to zero, which they did, then I'd have been well up.

    You have to make mistakes to learn from them though.
     
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  14. wfcmoog

    wfcmoog Tinpot

    When you buy an asset for 1500 and 3 years later it's worth 19000, then that's pretty decent in anyone's book.
     
  15. reids

    reids Squad Player

    One of my friends had done the same, spent loads on Tron etc and is still holding those bags in the hope they go back up. I've been on at him to suck up the losses and just consolidate them into BTC/Eth as the chance of BTC/Eth making up for his 80%+ losses is far greater than those tokens/shitcoins reaching their heights of 2017/2018. I reminded him a month ago and he still hasn't done it, whilst BTC is up 50% in that month. :rolleyes:
     
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  16. wfcmoog

    wfcmoog Tinpot

    Yeah. When I started looking at Crypto, I felt like I had missed the BTC boat. I was looking for the 'next big thing.'
    Whilst the market in 2017 was so volatile, you could see some coins and tokens go 100x, it looked like there was a get rich quick scheme around the next corner, but most of that was pure puffery. None of it lasted. Btc is the only one with any adoption, regardless of the tech in some of the few decent other coins.

    Most of the people behind the projects are scammers. As soon as it becomes easier to just take the money, they're gone.

    Hard lessons learned, but fortunately I didn't end up losing anything overall.
     
  17. reids

    reids Squad Player

    Yeah, I missed the boat on BTC as well but luckily was an early adopter of Eth (think I accumulated 40 eth in total at between £5-£25ish each - in hindsight I wish I bought more but it becomes harder to pay £30, £40, £50 for something that you used to be able to pay £5 for!) but still did the same as you, I was kinda strict about what I invested in but still got burnt a fair few times. Even part of a lawsuit for one of the scams (Envion) that I should hopefully see some money back from (since apparently the funds have been held still and haven't been spent), but sticking to a 50/50 split between eth + btc this time round.
     
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  18. Arakel

    Arakel First Team

    Potentially good short term opportunity coming up.

    https://www.bbc.com/news/technology-55415350

    I expect XRP will bounce back from this, so if it continues to plunge there might be a very attractive entry point soon for a quick flip after you ride it back up.
     
  19. wfcmoog

    wfcmoog Tinpot

    Agreed. I wouldn't want to hold XRP long term. It's a shitcoin, but happy to ride a peak to make some btc.
     
  20. wfcmoog

    wfcmoog Tinpot

    I bet you wish you had those 40 ETH still now
     
  21. reids

    reids Squad Player

    :( At one point before the crash in 2018 my crypto portfolio was worth 35k - ended up selling for about 7-8k in the end. Would be worth over 20k again now :(
     
  22. wfcmoog

    wfcmoog Tinpot

    Mine was about 10k, but lost a bit. I invested in two bum projects (Decent.bet and Rise) but my gains elsewhere meant I broke even.

    Kept a small hand in since then which has doubled.

    Has anyone else looked at Ember Portfolio? I invested a small pot in their Quant Fund. Seems a sensible way to ride the Btc troughs and peaks.
     
  23. Arakel

    Arakel First Team

    Oddly enough, I just looked at this the other day and was considering it.

    What are your thoughts so far?
     
  24. wfcmoog

    wfcmoog Tinpot

    I put 650 dollars worth in a month ago and now worth 880. Obviously though bitcoin has been on a record run, so it's hard to tell. I'm just thinking that when the inevitable dip occurs, it will automatically correct for me. It has already sold to USDT and bought back into BTC once this month, when Btc corrected shortly after brushing under $20k.

    I'm not an active trader so I could easily miss a 20% plunge. I won't hit the peak or buy the trough this way, but I might do ok.

    The fund is up 600% in a year, but again, that's over a Bitcoin run. Will be interesting to see how it performs when it dips. In theory it should still make gains in all but a sideways market.
     
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  25. Lloyd

    Lloyd Reservist

    Bitcoin owner has only two guesses left to unlock $220m in cryptocurrency
    Unfortunately, the owner kept the password to accessing the digital wallet holding the Bitcoin on a piece of paper, which he lost
    By Rozina Sabur Washington 12 January 2021 • 9:25pm


    A Bitcoin owner has revealed he only has two guesses left to unlock more than $220m in cryptocurrency after eight failed attempts to access his fortune.

    Stefan Thomas, a German-born computer programmer based in San Francisco, was given 7,002 Bitcoins more than ten years ago as a reward for recording a video explaining how the cryptocurrency works.

    At the time, the Bitcoins were worth between $2 to $6 each.

    With the price of Bitcoin rising rapidly during the coronavirus pandemic, those Bitcoins are now worth around $34,000 each, putting the value of the total fortune at more than $220 million.

    Unfortunately for Mr Thomas, he kept the password to accessing the digital wallet holding the Bitcoin on a piece of paper - which he lost years ago.

    The password is needed to unlock a small hard drive, known as an IronKey, which contains the private keys to a digital wallet that holds Mr Thomas' Bitcoin fortune.

    The IronKey allows users 10 guesses before it encrypts its contents forever.

    Mr Thomas said he has already tried eight passwords he uses without success.

    “I would just lay in bed and think about it,” Mr Thomas told the New York Times. “Then I would go to the computer with some new strategy, and it wouldn’t work, and I would be desperate again.”

    Mr Thomas' unlucky tale has thrown light on one of the pitfalls that come with dealing in cryptocurrencies, which, unlike traditional banks, do not have a function to retrieve lost or forgotten passwords.

    According to the cryptocurrency data company Chainalysis, around 20 per cent of the existing 18.5 million Bitcoin appears to be stuck in lost or otherwise inaccessible digital wallets.

    Many locked out owners have been forced to watch on, unable to cash in on their digital wealth, as the value of Bitcoin rapidly increased during the pandemic.

    Wallet Recovery Services, a business that helps find lost digital keys, said it has gotten 70 requests a day from people who want help recovering their riches, three times the number of a month ago.

    After the coverage of Mr Thomas’ plight, some experts have suggested the computer programmer invest his money into ways to hack his IronKey and unlock the funds.

    Alex Stamos, an internet security expert at Stanford Internet Observatory, said he believed he could crack the password within six months - in exchange for a 10 per cent cut of the digital fortune.

    “Take it to professionals to buy 20 IronKeys and spend six months finding a side-channel or uncapping,” he said on Twitter. “I’ll make it happen for 10%. Call me.”

    But for now Mr Thomas says he has put his IronKey out of sight and out of mind.

    “I got to a point where I said to myself, ‘Let it be in the past, just for your own mental health,’” he told the New York Times.
     
  26. UEA_Hornet

    UEA_Hornet First Team Captain

    We've all been there. I got locked out of my Groupon account once. In the end I just had to leave it.
     
  27. Lloyd

    Lloyd Reservist

    Yes, I know exactly how he feels. I can't remember the code to my bicycle lock
     
  28. Davy Crockett

    Davy Crockett Reservist

    MuggingsCoin is the latest crapto currency . Seriously . Lump on.
    Just DM me . Ts@Cs apply .

    Disclaimer

    Your investment can go down as well as spunked up against the wall
     
  29. wfcmoog

    wfcmoog Tinpot

    I'm holding Rise and Dbet after following herds. Both are virtually worthless and unsellable. I don't think there's any volume on any exchange for those. Each was about 1 Eth's worth, so that would have been about $2,500 if I'd kept it in Eth.

    I did religiously get some airdrops every day for a while, but they were worth pennies. ERC20 tokens which are probably defunct. In any case, I lost the password to that wallet when I changed phones.
     
  30. reids

    reids Squad Player

    I did like the idea of blockchain gambling, one of ones I bought into had a ready made product (Etheroll). I bought 10 eths worth (although eth was only £10 back then!) and earned over 0.5 eth back after the first 2 dividend payments so thought ithe token price would take off (as well as earning eth from the dividends). That didn't really happen as I planned, if I kept it all to date I would've earned 1.64 eth and the tokens would be worth 1.2k eth. Didn't scale as well as I thought!

    I've now sold off a majority of my crypto now after the dip last week (as this was crypto I bought after the Rona crash as I saw a potential for some short-term earnings that I'm gonna use for my wedding in a couple of years), sold my eth for £1.2k (bought for £410) and sold my BTC for £1k (bought for £410), not bad for 8 months! Bought back in with another £400 (split between 50/50 between eth + btc again) once it recovered and started to climb again. I don't like buying 10% higher than what I sold at a few days earlier but I've taken enough profit to justify it imo. Still got another £900 as part of my wider portfolio that I won't be touching unless it reaches silly levels though
     
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  31. Crezzy95

    Crezzy95 Academy Graduate

    Is XRP going to rise to the moon? A guy at work has put thousands in over the past few months & keeps on telling me to lump on XRP. I don't really get how it works but I once had a demo account on Libertex and lost the lot very quickly, told myself I wasn't going to put any of my own money in after that.
     
  32. Arakel

    Arakel First Team

    I'm fairly certain we have a sizeable crash coming up soon. The news is talking about Bitcoin again, which if history is any indicator will mean another gold rush followed by a crash shortly afterwards.
     
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  33. reids

    reids Squad Player

    Slight typo, worth 1.2 eth not 1.2k eth!

    I'm torn, on one hand I feel very similar to you but on the other hand I think it could be different this time around, there's so much more institutional money flowing in (rather than the general public), financial institutions seem much more open to it (PayPal, banks etc) and I feel it's generally matured somewhat. I'm a 50/50 split between which way it will go.
     
  34. wfcmoog

    wfcmoog Tinpot

    The situation as follows in my opinion - not financial advice, do your own research:

    I think XRP is a shitcoin. It's centralised, the majority of the coins are owned by the company and there are billions of them. There's no scarcity. Having said that, there is a very loyal fanbase, who think that the involvement of the banks in XRP makes it stronger than decentralised crypto coins, whereas I and others see that as entirely the opposite of the purpose of crypto.

    At present XRP is in uncertain waters, because the US regulator, the SEC has sued them for selling a security to non-sophisticated investors. Ripple claims their token is a currency, not a security.

    As a result of this legal action, XRP's value has gone down. That means that if you buy now, and they beat the SEC rap, or they settle without too much negative publicity and find a way to continue, then the price COULD (note, not definitely WILL) rebound.

    I've bought a couple of hundred quid's worth as a speculation. I personally wouldn't be loading my bags up too much with them. Other opinions are available.
     
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  35. wfcmoog

    wfcmoog Tinpot

    My guess (and it's only a guess) is that we are sure to get a correction. How big and how far, I can't tell, but I don't see Bitcoin sub $10k coming. All the technical analysis guys on my trading groups have been predicting 30-50% correction all the recent weeks, but it has yet to happen.

    I'm hopeful that my stake in Ember's Quant Fund will mean that whatever happens, I don't lose out too badly if/when the correction/crash happens.
     
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