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Cryptos

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  • kentaddick
    kentaddick Posts: 18,729
    Holy crap, $400 million sell wall just got obliterated on Bitcoin. This weekends gonna be a massive leg up for Bitcoin 
  • reserves
    reserves Posts: 795
    kentaddick said:
    Holy crap, $400 million sell wall just got obliterated on Bitcoin. This weekends gonna be a massive leg up for Bitcoin 

    I’m clearly out of my depth here. What does that mean?
  • kentaddick
    kentaddick Posts: 18,729
    reserves said:
    kentaddick said:
    Holy crap, $400 million sell wall just got obliterated on Bitcoin. This weekends gonna be a massive leg up for Bitcoin 

    I’m clearly out of my depth here. What does that mean?
    $400 million worth of sell orders for when the price hit $40,000. The price hit $40,000, those sell orders were filled but it didn’t affect the price. It just kept going up. This means the buying power was absolutely overwhelming. You’d expect a large sell off to mean a dip, but that didn’t happen.
  • cabbles
    cabbles Posts: 15,254
    edited February 2021
    $40.3k at the moment - interesting times 
  • BalladMan
    BalladMan Posts: 1,112
    edited February 2021
    The Prince-e-Paul said:
    Balladman, cafcpolo, Glovepup, thanks all guys for your advice. It's the age old conundrum, investing. Clearly everyone wants to buy into a sure thing, and there's no such thing. With Cryptos it has appeared to be easy money for many, but I fear a bubble bursting. 

    I know I wouldn't risk losing enough money to jeopardize the house purchase, but investment growth is so minimal right now. Just heard today the interest rate in bank account Santander 123 is dropping from 0.6% to 0.3% in April. Of course it's instant access. These super low rates trigger interest in alternative options, but I guess the knowledge you have is invaluable to reduce risks. 
    I am a pure novice.  Only been looking into it for a number of days / a few weeks, for 3 reasons:
    - My company has started integration with blockchains (IOTA) 
    - A few friends had started to make a bit of money
    - I have a business idea for making Crypto more accessible as co-operative 'gaming' for groups of friends. 

    It will take up a LOT of time if you want to do it properly.  Due the volatility, the art is joining at the lows and leaving at the highs as the prices WILL fluctuate so dramatically.  This needs to be done in an automated way as the high and lows can and will happen overnight.

    The simplest way seems to be to find a source who you trust (there are tons of options here online) and go with their analysis with some thought and gut feel from you. 

    If you are looking for an investment vehicle which offers more than savings, but is little less risky, why not try something like an equity index fund.  I have one with Vanguard for almost exactly 3 years and has a returns of 35% .  Of course this is not without risk (and I am not a financial advisor) but feels better to allow people who are dedicated and experienced in analyzing the markets than some home taught guys on a charlton messgae board (I mean me here, no offence to anyone else here) 
  • CAFCsayer
    CAFCsayer Posts: 10,222
    Rothko said:
    CAFCsayer said:
    BalladMan said:
     Cadarno (ADA) also storming overnight to 10% increase. 
    Cardano is on fire at the moment. I really don't get it
    Solid people behind it, 5.5% staking rewards, project with a clear use case and road map. Criminally underpriced when it was single digit priced, and I brought a shedload 
    Pretty huge max suppy and still doesn't even have smart contracts yet though. It is a solid project, but a lot of it is built on words rather than actions.

    Saying that, it's just pumped another 26% and overtaken XRP market cap! You taking any profit or running it? 
  • Rothko
    Rothko Posts: 18,796
    CAFCsayer said:
    Rothko said:
    CAFCsayer said:
    BalladMan said:
     Cadarno (ADA) also storming overnight to 10% increase. 
    Cardano is on fire at the moment. I really don't get it
    Solid people behind it, 5.5% staking rewards, project with a clear use case and road map. Criminally underpriced when it was single digit priced, and I brought a shedload 
    Pretty huge max suppy and still doesn't even have smart contracts yet though. It is a solid project, but a lot of it is built on words rather than actions.

    Saying that, it's just pumped another 26% and overtaken XRP market cap! You taking any profit or running it? 
    Running, going long on this one.

    Could cash out the staking rewards which would be ok, but I was in this one for 2-3 years 
  • CAFCsayer
    CAFCsayer Posts: 10,222
    Rothko said:
    CAFCsayer said:
    Rothko said:
    CAFCsayer said:
    BalladMan said:
     Cadarno (ADA) also storming overnight to 10% increase. 
    Cardano is on fire at the moment. I really don't get it
    Solid people behind it, 5.5% staking rewards, project with a clear use case and road map. Criminally underpriced when it was single digit priced, and I brought a shedload 
    Pretty huge max suppy and still doesn't even have smart contracts yet though. It is a solid project, but a lot of it is built on words rather than actions.

    Saying that, it's just pumped another 26% and overtaken XRP market cap! You taking any profit or running it? 
    Running, going long on this one.

    Could cash out the staking rewards which would be ok, but I was in this one for 2-3 years 
    Does ADA staking lock up your stake for any time frame? This is one thing I hate about ZIL, staked ZIL are locked up for 2 weeks. I've got a decent sized position here but probably stake 10% of it and have the rest with a trailing stop-loss as I'm worried about bitcoin dumping and taking everything with it. 
  • Rothko
    Rothko Posts: 18,796
    CAFCsayer said:
    Rothko said:
    CAFCsayer said:
    Rothko said:
    CAFCsayer said:
    BalladMan said:
     Cadarno (ADA) also storming overnight to 10% increase. 
    Cardano is on fire at the moment. I really don't get it
    Solid people behind it, 5.5% staking rewards, project with a clear use case and road map. Criminally underpriced when it was single digit priced, and I brought a shedload 
    Pretty huge max suppy and still doesn't even have smart contracts yet though. It is a solid project, but a lot of it is built on words rather than actions.

    Saying that, it's just pumped another 26% and overtaken XRP market cap! You taking any profit or running it? 
    Running, going long on this one.

    Could cash out the staking rewards which would be ok, but I was in this one for 2-3 years 
    Does ADA staking lock up your stake for any time frame? This is one thing I hate about ZIL, staked ZIL are locked up for 2 weeks. I've got a decent sized position here but probably stake 10% of it and have the rest with a trailing stop-loss as I'm worried about bitcoin dumping and taking everything with it. 
    20 days till first stake pays then every 5 days. You delegate so you can pull them at any time and move to a new pool or just sell
  • Callumcafc
    Callumcafc Posts: 63,754
    Any of you experts got thoughts on Dogecoin? 
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  • CAFCsayer
    CAFCsayer Posts: 10,222
    By no means an expert, but Doge has an unlimited coin supply, there’s no market cap and one address owns nearly 30% of the current supply... It was originally created as a joke and is now just a massive pump and dump imo
  • kentaddick
    kentaddick Posts: 18,729
    Callumcafc said:
    Any of you experts got thoughts on Dogecoin? 
    Stay away. As @CAFCsayer says, it’s a pump and dump with deliberately terrible fundamentals. The dump that’s gonna catch a lot of people is going to really harm the crypto space’s reputation. Fucking Elon musk 
  • Callumcafc
    Callumcafc Posts: 63,754
    edited February 2021
    So say hypothetically if someone put 20 quid into Dogecoins for a laugh a few months ago and could now sell them for about 400 quid...
  • kentaddick
    kentaddick Posts: 18,729
    Callumcafc said:
    So say hypothetically if someone put 20 quid into Dogecoins for a laugh a few months ago and could now sell them for about 400 quid...
    then sell it and put it in ethereum.
  • CAFCsayer
    CAFCsayer Posts: 10,222
    I'd wait for elons next tweet and then bin it 
  • cafcpolo
    cafcpolo Posts: 3,811
    Callumcafc said:
    Any of you experts got thoughts on Dogecoin? 
    Shitcoin, avoid. As @cafcsayer says, it was created as a joke. People trying to pump it to $1 but it won't get there. You'll be able to make some good money on it if you catch it at the right time but price quite high for it at the moment.
  • kentaddick
    kentaddick Posts: 18,729
    CAFCsayer said:
    I'd wait for elons next tweet and then bin it 
    i dunno, if you dont really know what you're doing I'd strongly advise to get out whilst the goings good. Ethereum just hit and bounced perfectly on resistance/support flip (a resistance that had lasted for like 2 years), CME futures launching tomorrow and grayscale accumulating loads of eth. A much better use of that profit money right now. 
  • oohaahmortimer
    oohaahmortimer Posts: 34,141
    kentaddick said:
    reserves said:
    kentaddick said:
    Holy crap, $400 million sell wall just got obliterated on Bitcoin. This weekends gonna be a massive leg up for Bitcoin 

    I’m clearly out of my depth here. What does that mean?
    $400 million worth of sell orders for when the price hit $40,000. The price hit $40,000, those sell orders were filled but it didn’t affect the price. It just kept going up. This means the buying power was absolutely overwhelming. You’d expect a large sell off to mean a dip, but that didn’t happen.
    Good sales,  now just above 38k
  • BalladMan
    BalladMan Posts: 1,112
    kentaddick said:
    closed my eth position and put in a bid at 1514.
    Brilliant shout. ETH down below 1514 and now on its way back up again. 
  • CAFCsayer
    CAFCsayer Posts: 10,222


    He's at it again
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  • CAFCsayer
    CAFCsayer Posts: 10,222
    If someone could build a bot that automatically puts on a massive leveraged position in doge any time Musk mentions the word "Doge" on twitter and then takes it off 3-5mins later it'd be a license to print money
  • kentaddick
    kentaddick Posts: 18,729
    BalladMan said:
    kentaddick said:
    closed my eth position and put in a bid at 1514.
    Brilliant shout. ETH down below 1514 and now on its way back up again. 
    Yeah... totally didn’t then fomo into a trade a lot earlier than that 😅

    but goes to show I should trust my TA. 
  • kentaddick
    kentaddick Posts: 18,729
    edited February 2021
    meanwhile my uniswap holds are doing great, iyf in price discovery (announcement coming soon, hopefully involving an arb product for all holders) and RFI ready for a breakout, wcres also in price discovery. Feels good man. 
  • killer kish
    killer kish Posts: 2,019
    Any thoughts here on DeFI
  • kentaddick
    kentaddick Posts: 18,729
    killer kish said:
    Any thoughts here on DeFI
    the future.
  • oohaahmortimer
    oohaahmortimer Posts: 34,141
    CAFCsayer said:
    If someone could build a bot that automatically puts on a massive leveraged position in doge any time Musk mentions the word "Doge" on twitter and then takes it off 3-5mins later it'd be a license to print money
    I’m pretty certain there are programs out there reading headlines/twitter etc and reacting to them accordingly 
  • charltonnick
    charltonnick Posts: 3,063
    Tesla just bought 1.5 billion dollars worth of Bitcoin 
  • oohaahmortimer
    oohaahmortimer Posts: 34,141
    up nearly 10% $42.5k
    proper action market  
  • CAFCsayer
    CAFCsayer Posts: 10,222
    44k nearly now... Meanwhile im still unable to get into my binance account ffs. This is going traight to 50k
  • kentaddick
    kentaddick Posts: 18,729
    I got lol’d when I said it could hit 100k. Tesla buying Bitcoin is massive news 

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