Cryptos
Comments
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Just finished a course on block chain in the energy sector.
Huge potential but a long way to go to get simpletons like me involved.0 -
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I cant even get my money out of Coinbase, they keep denying me access to the site and will not respond to my emails.0
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No it is where he will be buried when he dies.Stig said:I thought Cryptos was Stavros's brother, peeps.
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OK - so my "toe in the water" of cryptocurrency earlier this year has been disappointing. I decided to invest £500 in Coinbase to buy Bitcoin and then Ethereum (it was being heralded as the next big thing at the time - whatever that meant). Anyway my £500 is now worth £89.10...! Mainly down to the plummet in value of Ethereum. Fortunately the loss isn't too bad - in the big picture - but can anyone explain (in a short paragraph) why this has happened....?0
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Same here cafc, my "toe in the water" £200 in Etherium back in January when it peaked is a distance dream now. Coinbase will not let me into my account to withdraw the meager amount that is left and they will not answer my emails.cafc-west said:OK - so my "toe in the water" of cryptocurrency earlier this year has been disappointing. I decided to invest £500 in Coinbase to buy Bitcoin and then Ethereum (it was being heralded as the next big thing at the time - whatever that meant). Anyway my £500 is now worth £89.10...! Mainly down to the plummet in value of Ethereum. Fortunately the loss isn't too bad - in the big picture - but can anyone explain (in a short paragraph) why this has happened....?
Put it down to experience and move on.0 -
cafc-west said:
OK - so my "toe in the water" of cryptocurrency earlier this year has been disappointing. I decided to invest £500 in Coinbase to buy Bitcoin and then Ethereum (it was being heralded as the next big thing at the time - whatever that meant). Anyway my £500 is now worth £89.10...! Mainly down to the plummet in value of Ethereum. Fortunately the loss isn't too bad - in the big picture - but can anyone explain (in a short paragraph) why this has happened....?
Because I went in large
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Fools gold. I warned everyone numerous times.cafc-west said:OK - so my "toe in the water" of cryptocurrency earlier this year has been disappointing. I decided to invest £500 in Coinbase to buy Bitcoin and then Ethereum (it was being heralded as the next big thing at the time - whatever that meant). Anyway my £500 is now worth £89.10...! Mainly down to the plummet in value of Ethereum. Fortunately the loss isn't too bad - in the big picture - but can anyone explain (in a short paragraph) why this has happened....?
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I seem to remember that! Glad it was "only" £500. I am aware of a few people who decided to put their "life savings" into it in the hope of a massive return. But as the old saying goes "if something seems to good to be true then it probably is...".Covered End said:
Fools gold. I warned everyone numerous times.cafc-west said:OK - so my "toe in the water" of cryptocurrency earlier this year has been disappointing. I decided to invest £500 in Coinbase to buy Bitcoin and then Ethereum (it was being heralded as the next big thing at the time - whatever that meant). Anyway my £500 is now worth £89.10...! Mainly down to the plummet in value of Ethereum. Fortunately the loss isn't too bad - in the big picture - but can anyone explain (in a short paragraph) why this has happened....?
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Just hold onto it, if you can, for a couple of years.
There's a few things that will happen that will have a positive influence on its price. Bitcoin will split for example.
what it does before then no one knows though of course.1 -
yeah nothing is a get rich quick scheme, it took years for bitcoin to take off like it did this time last year for instance.SE10Addick said:Just hold onto it, if you can, for a couple of years.
There's a few things that will happen that will have a positive influence on its price. Bitcoin will split for example.
what it does before then no one knows though of course.
Only slightly under the £200 i put in a year or so ago. But crypto/blockchain is very much the future, especially for supply chains.0 -
I agree that Cryptos will be important going forward but your last point needed correcting.kentaddick said:
yeah nothing is a get rich quick scheme, it took years for bitcoin to take off like it did this time last year for instance.SE10Addick said:Just hold onto it, if you can, for a couple of years.
There's a few things that will happen that will have a positive influence on its price. Bitcoin will split for example.
what it does before then no one knows though of course.
Only slightly under the £200 i put in a year or so ago. But crypto/blockchain is very much the future, especially for whores and blow.1 -
http://www.patienthelp.org/bitcoin/jim-davidson-bitcoin-revolution-trading-platform.html
You guys need to get on to this
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I've seen the adverts - including Jim's mug popping up on here! Sounds too good to be true. Be interesting to hear from anyone who has though....Chaz Hill said:http://www.patienthelp.org/bitcoin/jim-davidson-bitcoin-revolution-trading-platform.html
You guys need to get on to this
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It is, it’s a scam. Stay well away.cafc-west said:
I've seen the adverts - including Jim's mug popping up on here! Sounds too good to be true. Be interesting to hear from anyone who has though....Chaz Hill said:http://www.patienthelp.org/bitcoin/jim-davidson-bitcoin-revolution-trading-platform.html
You guys need to get on to this0 -
Covered End said:
I just hope no one on CL loses a lot of money on cryptos. Warren Buffett said you should not invest in shares of companies that you do not fully understand & the same applies for any asset. Gamble with money you can happily lose, but please don't gamble more. It's an extremely high risk gamble end of.
Covered End said:
Then carry on, but be aware the rug could be pulled out from under you at any time and you have no protection from any regulatory bodies.kentaddick said:
For sure. But if you do understand it?Covered End said:I just hope no one on CL loses a lot of money on cryptos. Warren Buffett said you should not invest in shares of companies that you do not fully understand & the same applies for any asset. Gamble with money you can happily lose, but please don't gamble more. It's an extremely high risk gamble end of.
Covered End said:Do not invest in anything you do not fully understand.
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Hearing a lot of suggestions to get on XRP anyone else hearing similar? Or have suggestions on any decent cryptos?0
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Same as last year if you fancy a punt and can afford to make a loss then go for it. I wouldn't out your life savings on it though. I'm still hoping my 1 litecoin will moon one day!Dazzler21 said:Hearing a lot of suggestions to get on XRP anyone else hearing similar? Or have suggestions on any decent cryptos?
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Just a quick maths reminder - an asset that falls 90% in price is one which falls 80% then falls another 50%.
Anyone thinking of buying into a burst bubble because prices are already down 80% might be in for a shock.3 -
You realise bitcoin has had far worse crashes than the past year right? It has always come back stronger.newyorkaddick said:Just a quick maths reminder - an asset that falls 90% in price is one which falls 80% then falls another 50%.
Anyone thinking of buying into a burst bubble because prices are already down 80% might be in for a shock.
XRP is probably a good one to trade, the price fluctuates a lot so if you’re clever about it you can make a bit. But it is looking very cheap right now.Dazzler21 said:Hearing a lot of suggestions to get on XRP anyone else hearing similar? Or have suggestions on any decent cryptos?
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What's the latest on Vechain, @kentaddick ? You still positive about it?0
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I dipped my toe back in yesterday on Bitcoin 2,780 (Euro) so watch it tank!0
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Started reading this thread when it picked up press last year and although I downloaded that Coinbase app, I never bought any crypto currency, mainly because despite all the good posts on here, I still didn’t have a clue about what the gist of it was (actually that could apply to my knowledge of finance and money as a whole).
So, with something like Coinbase, was it similar to a Ponzi scheme?0 -
Some dodgy exchanges may well have been ponzi schemes, that's the risk you take entering any unregulated market but the majority will have been legitimate businesses, I still use the same exchange I always have and don't have any problems.cabbles said:Started reading this thread when it picked up press last year and although I downloaded that Coinbase app, I never bought any crypto currency, mainly because despite all the good posts on here, I still didn’t have a clue about what the gist of it was (actually that could apply to my knowledge of finance and money as a whole).
So, with something like Coinbase, was it similar to a Ponzi scheme?0 -
Think Coinbase simply operates like an exchange to enable punters (like me) to buy and sell sell crypto currencies. I put £500 into coinbase (at the peak of this thread) and bought mainly Ethereum as it looked promising at the time and I thought I'd see what happened. Within 6 weeks it was valued at £790. As of today the account has a value of £53.65... Just glad I didn't put in any more. Will just "sit on it" and see what happens.cabbles said:Started reading this thread when it picked up press last year and although I downloaded that Coinbase app, I never bought any crypto currency, mainly because despite all the good posts on here, I still didn’t have a clue about what the gist of it was (actually that could apply to my knowledge of finance and money as a whole).
So, with something like Coinbase, was it similar to a Ponzi scheme?
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Stu_of_Kunming said:
Some dodgy exchanges may well have been ponzi schemes, that's the risk you take entering any unregulated market but the majority will have been legitimate businesses, I still use the same exchange I always have and don't have any problems.cabbles said:Started reading this thread when it picked up press last year and although I downloaded that Coinbase app, I never bought any crypto currency, mainly because despite all the good posts on here, I still didn’t have a clue about what the gist of it was (actually that could apply to my knowledge of finance and money as a whole).
So, with something like Coinbase, was it similar to a Ponzi scheme?
Ta - it was more EastStandMike’s comment about not being able to get his money out and them (Coinbase) not returning his emails that made me think Ponzi, and it was my understanding they were one of the main players in this whole thingcafc-west said:
Think Coinbase simply operates like an exchange to enable punters (like me) to buy and sell sell crypto currencies. I put £500 into coinbase (at the peak of this thread) and bought mainly Ethereum as it looked promising at the time and I thought I'd see what happened. Within 6 weeks it was valued at £790. As of today the account has a value of £53.65... Just glad I didn't put in any more. Will just "sit on it" and see what happens.cabbles said:Started reading this thread when it picked up press last year and although I downloaded that Coinbase app, I never bought any crypto currency, mainly because despite all the good posts on here, I still didn’t have a clue about what the gist of it was (actually that could apply to my knowledge of finance and money as a whole).
So, with something like Coinbase, was it similar to a Ponzi scheme?0 -
Still no joy, they are not responding to my emails and I cannot access my account. Due to my losses we are talking less than £50 however if the market bounces back "I might be a millyonair Rodney"cabbles said:Stu_of_Kunming said:
Some dodgy exchanges may well have been ponzi schemes, that's the risk you take entering any unregulated market but the majority will have been legitimate businesses, I still use the same exchange I always have and don't have any problems.cabbles said:Started reading this thread when it picked up press last year and although I downloaded that Coinbase app, I never bought any crypto currency, mainly because despite all the good posts on here, I still didn’t have a clue about what the gist of it was (actually that could apply to my knowledge of finance and money as a whole).
So, with something like Coinbase, was it similar to a Ponzi scheme?
Ta - it was more EastStandMike’s comment about not being able to get his money out and them (Coinbase) not returning his emails that made me think Ponzi, and it was my understanding they were one of the main players in this whole thingcafc-west said:
Think Coinbase simply operates like an exchange to enable punters (like me) to buy and sell sell crypto currencies. I put £500 into coinbase (at the peak of this thread) and bought mainly Ethereum as it looked promising at the time and I thought I'd see what happened. Within 6 weeks it was valued at £790. As of today the account has a value of £53.65... Just glad I didn't put in any more. Will just "sit on it" and see what happens.cabbles said:Started reading this thread when it picked up press last year and although I downloaded that Coinbase app, I never bought any crypto currency, mainly because despite all the good posts on here, I still didn’t have a clue about what the gist of it was (actually that could apply to my knowledge of finance and money as a whole).
So, with something like Coinbase, was it similar to a Ponzi scheme?0
