This means that we’re likely going to be making our own ‘fan token’ like some other clubs and entities have done with them. Our fans struggle with tickets on a phone so getting them to buy Crypto will be, well, challenging at best.
All I know is that there are plenty of "helluva guys" banging on about one issue or another . Because it makes them look like an all round good egg. Regardless of the impact of those less fortunate. Waffling on about how much easy cash they can make is a disgrace. You might not like me but I sleep at night .
Crypto is not ‘easy cash’. Yes there are plenty of stories in the news about people who invested a few quid in a shitcoin and are now a millionaire, but it’s because those stories provide clicks. It’s the equivalent of winning the lottery. It will happen for some people but not the overriding majority. Most people looking to make money in the same way will lose it, but it’s because their behaviour is the same of someone looking to make a quick buck through gambling on horses, or scratch cards, or poker etc. It’s not because Crypto is bad, it’s because people are greedy and want to become a millionaire overnight, again, like the lottery this happens to a tiny minority of people so those chasing the same outcome will mostly not be successful. Crypto is no different to any other investment, it’s not different to a stock, if you do your DD on a project, believe in it and are prepared to hold onto you’re investment long term, then there is a chance you’ll make money, the same way that people who believed in Amazon, or Apple or Tesla have. Not every project will work out, but again that’s not Cryptos fault, it’s no different to a company failing, nobody wanted the company to fail did they, but not everything in life works out. 99% are the time people who lose from crypto are those looking for a quick buck, they jump on the bandwagon hoping for overnight success, panic when it drops and sell at a loss. These people would’ve lost out gambling or investing in anything else, because it’s their mindset that is the issue, not what they’re investing in. When people lose money more often than not it’s their own fault. When people make money more often than not it’s because they’ve been extremely diligent and extremely patient.
Good post, as someone said recently in this thread, do your research. I've not gone into crypto mainly because to an extent I am risk-adverse, despite the industry I work in, but also unlike putting shares into a company and national currencies there is something behind them propping up the value. I haven't read into it enough, and I don't currently have the time or interest to do so yet, but my biggest concern about crypto is that in theory it is technically worthless insofar as it is only valued at what someone is willing to exchange it for. Also even if, as suggested, I were to pump a DD of £20 per month, which I can afford to lose, the profit wouldn't be big enough to be worth my while particularly as any gains would have to be notified to HMRC on my tax return each time I sell some. Due to tax relief I would probably be better off putting that extra money into my pension scheme.
This is one of the reasons I like Ethereum so much as there's a whole network of dApps (decentralised apps) that are springing up - and most are built on the Ethereum network. Others on here have mentioned Loopring (a token used for fast payment), there's decentralised finance, betting, crowdfunding, games and even insurance apps that utilise the Ethereum network. It's still a bit basic and nothing massively ground-breaking at present, but the potential future scope is massive (as anything built on the Ethereum network requires eth to run and interact with = constant buying of eth = price goes up. Eth has also been chosen to be the backbone of Web3.0 which also has huge future scope. Web 1.0 was the internet between the early 90s to about 2004, the sort of basic pages without much interactivity and was hard to create. Web 2.0 is the internet in it's present state - much easier to be a creator, both in webpages (the likes of wordpress etc) and interactivity (anyone can upload a video to youtube in a couple of clicks for instance). Companies have also realised there's a lot of money to be made from the internet now, so a lot of apps/sites focus on monetising their customer base which either means selling data/personalising ads (Facebook, google etc) or a degradation of an app once it gets popular (the recent Uber troubles). Web 3.0 is the next natural evolution of the internet and takes some of that power away from the bigger companies - a good explanation (better than I could do it!) can be found here - https://coinmarketcap.com/alexandria/article/what-is-web-3-0 So ultimately Eth is used to prop up many other apps/use cases which gives it much more value than other crypto currencies!
Gonna give a potential winner out here. I think this project is going to do well, possibly a future 1b+ mcap. https://bscwin.app/ A fully decentralised lottery. Draws four times a day, and all you have to do to enter is hold the BSCWIN tokens. The prize scales with the market cap, so as the market cap grows, each of the 4 draws each day grows in size too. There are only 7 million tokens total. Winnings are automatically deposited into your wallet as BUSD. Project just launched a week ago so it's very new, currently at a 3.1 million market cap (prize is just under $1000 a pop at the moment, drawn four times a day). In a nutshell, each token is a permanent lottery ticket that never expires for a draw that runs 4 times daily.
I had a look and stuck a couple of hundred USD in, I can’t really see a downside, as you’ve got potential for the tokens to go up in value + the chance to win something four times a day, every day.
Yep, that's how I look at it. I will be very, very surprised if the token prices don't appreciate quite sharply from here. It's like buying a permanent Powerball ticket that draws four times a day. Best bit is the more the price goes up, the larger the prizes become. It may end up creating a positive feedback loop where more and more people jump in as the prizes increase, thus pushing both price and prize up higher. A very clever project all told, and at a mere 7 days old a lot of growth potential.
Seems a bit like a modern version of Premium Bonds, but with 15x more draws per month and the value of your Premium Bonds could actually go up a fair bit. If you had a decent chunk of cash you were willing to risk and put into it, probability wise you could probably make a very decent return. As an aside when I was a teenager I worked in a bank, and we used to have to sell to all the people who came in to pay their premium bond winnings in. The sales technique was that the average return on Premium Bonds was something like 1%, so way below inflation. Of course that was back when you could get 5% in a normal savings bond.
Aye, and now interest rates have plummeted below the 1% average return on premium bonds they've seen an influx of sales over the past couple of years. I hold a good chunk of them as well - as i'm self employed I work out what tax I should owe off each paycheck and stick into Premium Bonds until I need to pay my tax bill, any money I win is essentially less tax I have to pay - a good system!
Good "buy the dip" opportunity today. At first I'd panic about 10%+ drops, but now I just see them as seasonal sales. Volatility is the price you pay for the best investment on the planet.
The biggest lesson to learn in crypto is, much like the stock market, you set up to make your money in the downturns. So many people walk away during bear markets, but that's prime accumulation phase. When the next crypto winter comes, buy, and keep buying for the coming 2 years or so. When the bull returns the reward for that discipline will be there. Short flash crashes are the same.
Yep - I'm sure it is a psychological issue to sell on a dip. Just as important is when to take some profit on the up - 60k looks like the floor for BTC for the next bear market so buying now and holding for a year could end up with zero profit. Flash crashes like today also emphasise the importance of a BTC/ETH-weighted portfolio. 10% for BTC is easily 20% for alts. BTC may not be going up 500% any more but it certainly isn't going to zero.
I think it'll go a lot lower than that. Last bull BTC hit about 18k and went as low as 1.5 during the bottom out panic. If there is another crypto winter (and I think there will be), I expect BTC to get below 8k again for a bit, possibly lower. Of course, how far it goes this bull run also factors into that. A lot of people seem to think there won't be another crypto winter, but there has been after every bull run since BTC was launched and I see no reason why this time will be any different. If anything institutional money might accelerate it; you can bet your mortgage that the likes of Tesla's money guys have stop losses in place to make sure they don't get hosed if a winter arrives.
Bought £150 worth of Bitcoin today. Never really given crypto much thought, but the drop yesterday made me think why not see what all the fuss is about. It’s money I can afford to lose so I will treat it as a bit of an experiment.
Someone much cleverer than most people I've met once told me it's not when you buy it's when you sell that makes you a profit on stocks.
Welcome! While there's always a possibility of short-term ups and downs I can assure you that you won't lose in the mid (Q1/Q2 2022) to long-term (forever) with Bitcoin. Especially when inflation is 4.2% just for October. I'm starting to realise that while we want to take profits in fiat, it might be better to hold and use Bitcoin for what it is designed for - as currency.
Yer I don’t really have interest in selling unless I get a decent profit. I would be happy for it to go up 10%. I think I have long since lost the opportunity to make a lot of money from Bitcoin.
Nobody investing in Bitcoin now is going to make life changing money, but at the same time it’s the safest bet as far as Crypto is concerned, and doubling your money at the very least is a reasonable expectation, if not more over a long enough timeframe. You just have to not be phased if it suddenly halves in value. The potential big gains are in projects that haven’t taken off yet, but then they might not take off at all, and if and when they do take off to any extent, then you’ll also have to put up with extreme volatility that will be greater than anything you’ll see in Bitcoin. Also, However good a project is, when Bitcoin drops everything else (generally) goes with it anyway. Sounds pointlessly obvious now I’ve typed it out. But the risk/reward payoff is no different in Crypto to anything else.
Current trend seems to be NFT, Gaming and Metaverse projects (eg Mana, Enjin, Gala, One). Worth having some in the portfolio as a hedge. Avalanche (AVAX) tends to do well despite whatever BTC does as well. Everything else gets nuked on a big red candle.
I bought a half decent amount of LRC when it was about $0.5, it’s down a fair bit since it’s ATH last week but a lot of stuff is. There are rumours of a partnership with GME, which caused the initial spike. If that ends up being true then it’s got all sorts connotations considering what happened with GME’s stock price, it should attract a lot of attention. Also got some COS because I like the idea, but also because LRC are an investor so if the GME stuff is true it should take it up with it.
Also, I find NFTs totally mad. I guess its no different to crypto, but the idea for example, that a digital imagine of a monkey could be worth a tens of thousands of pounds is just mental to my 40 year old brain.
I think the way to approach those is to look for the ones that have utility, e.g. value in a game (like the Axie Infinity genesis pets). Those are the ones that will be worth something, but you really have to sift the gold dust from the chaff. Seems to me that the only-a-jpeg NFTs will have zero value long term, but the ones that have utility might be worth a small fortune.
The bitcoin I bought less than 6 months ago is up 74%! Once a bull run hits in crypto, it really hits.
As Arakel says, only a few will actually retain value. Most are complete trash which won't have any meaning in a few years time. Personally I think it is a way for people without capital to get into crypto which is fine as not everyone in the world earns enough to save. What does annoy me though is that Ben Foster has made loads of them - sorry but you have plenty of cash if you want to get into crypto, Ben. He mentioned in one of his videos that Hal Robson-Kanu is deep in the crypto game and has been for a while - meaning has the potential to be one of the richest footballers despite being extremely mediocre.
I have around 2,250 in UBTC. Which I won gambling. Is this worth cashing in or is it shrewd just to keep hold of it? I'm speaking as a person that has zero knowledge on this at all. Also is there a decent website that I can use to follow the price in Euros?
