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Cryptos
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Big piece in this week's economist about crypto! Finally paying some attention to DEFI it seems.0
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I'm not having a dig, but here's what the B of E say.
I just hope everyone makes money and gets out in good time.
The experts will whip away most people's money and millions will be left with very little.
Good luck all.
https://www.msn.com/en-gb/money/other/cryptocurrency-has-no-intrinsic-value-and-investors-will-lose-all-your-money-says-bank-of-england-chief/ar-BB1gtAyq?li=BBoPWjQ
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Yup I agree with all of that. In the end there will just be few crypto currencies left and they will be the ones that dictate the financial transactions. This means that most will disappear, it just depends on if your lucky enough to be holding 1 of the surviving coins. I have bought a few of the current low value ones such as zil etc just for the interest and a punt but imo anyone investing a penny more than they are willing to wake up 1 day and find it's all gone is mental1
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For that Bank Of England guy, the phrase has something to do with glass houses and stones I think0
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Worst joke of all timeBraziliance said:I've invested a lot of my savings into dogecoin1 -
When did you post that?Braziliance said:
Worst joke of all timeBraziliance said:I've invested a lot of my savings into dogecoin
I brought and sold a few weeks back. Brought a small amount again tonight, knew I should have brought some when Elon was announced for SNL a week ago.0 -
In January, had I put in A thousand I would currently be sitting on six figures.BigRedEvil said:
When did you post that?Braziliance said:
Worst joke of all timeBraziliance said:I've invested a lot of my savings into dogecoin
I brought and sold a few weeks back. Brought a small amount again tonight, knew I should have brought some when Elon was announced for SNL a week ago.
The truth is I tried to put in 100 quid that day on kraken and binance but got rejected and was too lazy to get verified, then I told my friend to put me in the money for me and he said don't bother mate, it's a meme coin and won't go much higher.
One of my friends I am not on talking terms with anymore bought about a tenners worth around 2 years ago, so he's probably doing well right now1 -
Look at it this way, you probably wouldn't have held until now.
With crypto there's always another opportunity.0 - Sponsored links:
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oh na I deffo would have held until crazy numbers at least, bit of a collector and holding on to value is right up my street.BigRedEvil said:Look at it this way, you probably wouldn't have held until now.
With crypto there's always another opportunity.
It is what it is though, I never would have put a grand on or whatever, would have been 100 tops and let it grow, so I'd be looking at about 8-10k right now & knowing me would probably just be more annoyed I didn't put in more haha0 -
Put $20 in as a joke April 2019, now sitting on $5600...BigRedEvil said:Look at it this way, you probably wouldn't have held until now.
With crypto there's always another opportunity.4 -
One of my mates put in 110 into Doge in 2017. Looking at about £18k in his wallet now.
I still don’t get “it” so am staying away but fair play to you lot being able to stick with it1 -
Most businesses fail, does that mean we shouldn’t invest in businesses, or speculate stock prices?Covered End said:I'm not having a dig, but here's what the B of E say.
I just hope everyone makes money and gets out in good time.
The experts will whip away most people's money and millions will be left with very little.
Good luck all.
https://www.msn.com/en-gb/money/other/cryptocurrency-has-no-intrinsic-value-and-investors-will-lose-all-your-money-says-bank-of-england-chief/ar-BB1gtAyq?li=BBoPWjQ0 -
Plz0 -
No not at all mate. The difference is though with a traditional business you can with a little bit of research see what it is they produce or sell, you can see what their management structure is, you can see how they intend to conduct business. Then you can make an informed decision on investing or not. No guarantees of it working ofcourse but you do have something to go on.kentaddick said:
Most businesses fail, does that mean we shouldn’t invest in businesses, or speculate stock prices?Covered End said:I'm not having a dig, but here's what the B of E say.
I just hope everyone makes money and gets out in good time.
The experts will whip away most people's money and millions will be left with very little.
Good luck all.
https://www.msn.com/en-gb/money/other/cryptocurrency-has-no-intrinsic-value-and-investors-will-lose-all-your-money-says-bank-of-england-chief/ar-BB1gtAyq?li=BBoPWjQ
Crypto is somewhat a mystery and most seem to rise and fall on the back of mystery people posting theories on the internet. Sometimes it isnt mystery people take Elon Musk and what has happened to DOGECOIN recently. Goodluck to those that have made a few quid so far but being honest other than Musk what else has pushed the increase ? If he wakes up tomorrow and tweets DOGECOIN is finished then the price will tumble I would think. That just isnt right and not a good platform to risk anything you are not happy to lose.
The coins I bought a while ago when I said I would buy and hold for 12 months are doing well tbh and far better than my traditional investments but that still doesnt get away from the fact that the isnt any rhyme or reason to it lol
Not dissing anyone who is into it on a reasonably high level I'm just saying buyer beware1 -
You can do similar with crypto: whats their usage, what’s their roadmap, what’s their supply? How’s their supply allocated? Are there locked/burned tokens? Are there any large holders that can dump on you and rug at any time? Has their token been audited by a third party? Who are the devs? Are they anonymous? What partnerships do they have? Are they real? - if you asked any of this of dogecoin you would run a mile.AndyG said:
No not at all mate. The difference is though with a traditional business you can with a little bit of research see what it is they produce or sell, you can see what their management structure is, you can see how they intend to conduct business. Then you can make an informed decision on investing or not. No guarantees of it working ofcourse but you do have something to go on.kentaddick said:
Most businesses fail, does that mean we shouldn’t invest in businesses, or speculate stock prices?Covered End said:I'm not having a dig, but here's what the B of E say.
I just hope everyone makes money and gets out in good time.
The experts will whip away most people's money and millions will be left with very little.
Good luck all.
https://www.msn.com/en-gb/money/other/cryptocurrency-has-no-intrinsic-value-and-investors-will-lose-all-your-money-says-bank-of-england-chief/ar-BB1gtAyq?li=BBoPWjQ
Crypto is somewhat a mystery and most seem to rise and fall on the back of mystery people posting theories on the internet. Sometimes it isnt mystery people take Elon Musk and what has happened to DOGECOIN recently. Goodluck to those that have made a few quid so far but being honest other than Musk what else has pushed the increase ? If he wakes up tomorrow and tweets DOGECOIN is finished then the price will tumble I would think. That just isnt right and not a good platform to risk anything you are not happy to lose.
The coins I bought a while ago when I said I would buy and hold for 12 months are doing well tbh and far better than my traditional investments but that still doesnt get away from the fact that the isnt any rhyme or reason to it lol
Not dissing anyone who is into it on a reasonably high level I'm just saying buyer bewareIt’s a different ball game, and many retailers don’t go through these questions, but especially if you want to buy low cap tokens you must do this. I’d make a pretty safe bet most large cap tokens will always be around from now on.1 -
On checking my wallets, I'm about £100 to the good. What will that buy me in Vietnam?kentaddick said:
its built to make trading as unprofitable as possible. That combined with outlawing uk companies to offer crypto derivatives trading makes it a hostile country for crypto. If i ever make it "big" in crypto i'll just move to somewhere like vietnam which has really friendly crypto laws and live like a king there for a bit.cafcpolo said:
Cheeky fuckers.kentaddick said:
No, i think that its everytime you trade from one crypto to another it becomes a taxable event if you're above the threshold for CGT: https://www.gov.uk/guidance/check-if-you-need-to-pay-tax-when-you-sell-cryptoassetsCAFCsayer said:
No expert, but thought you only pay it on realised fiat gains in uk?PolzeathNick said:Presumably have to pay capital gains tax when converting into Tether still?
Which includes trading into a stablecoin.
Regardless, probably best to find an accountant who specialises in crypto assets if you do think you're liable.
Still a laugably long way from doing that though!0 -
The Dodgecoin comment exactly what I mean mate. Apart from all the hype on the internet about Musk bugging it up the only real information I can find is that it was created as a joke. One of my sons is holding quite a bit of it and for the last 2 weeks I have been telling him to sell but he hasnt and it has proved me wrong every day. This morning I told him to sell once again to which his reply was not a chance Elon is on Saturday Night Live tonight it will fly again tomorrow! Maybe it will but I stand by my opinion that it isnt something I would want any serious cash tied up in. I admit I know very little and perhaps I'm just old fashioned but my gut instinct is telling me alot of folk are going to lose a pile of cash at some point if the whole thing combustskentaddick said:
You can do similar with crypto: whats their usage, what’s their roadmap, what’s their supply? How’s their supply allocated? Are there locked/burned tokens? Are there any large holders that can dump on you and rug at any time? Has their token been audited by a third party? Who are the devs? Are they anonymous? What partnerships do they have? Are they real? - if you asked any of this of dogecoin you would run a mile.AndyG said:
No not at all mate. The difference is though with a traditional business you can with a little bit of research see what it is they produce or sell, you can see what their management structure is, you can see how they intend to conduct business. Then you can make an informed decision on investing or not. No guarantees of it working ofcourse but you do have something to go on.kentaddick said:
Most businesses fail, does that mean we shouldn’t invest in businesses, or speculate stock prices?Covered End said:I'm not having a dig, but here's what the B of E say.
I just hope everyone makes money and gets out in good time.
The experts will whip away most people's money and millions will be left with very little.
Good luck all.
https://www.msn.com/en-gb/money/other/cryptocurrency-has-no-intrinsic-value-and-investors-will-lose-all-your-money-says-bank-of-england-chief/ar-BB1gtAyq?li=BBoPWjQ
Crypto is somewhat a mystery and most seem to rise and fall on the back of mystery people posting theories on the internet. Sometimes it isnt mystery people take Elon Musk and what has happened to DOGECOIN recently. Goodluck to those that have made a few quid so far but being honest other than Musk what else has pushed the increase ? If he wakes up tomorrow and tweets DOGECOIN is finished then the price will tumble I would think. That just isnt right and not a good platform to risk anything you are not happy to lose.
The coins I bought a while ago when I said I would buy and hold for 12 months are doing well tbh and far better than my traditional investments but that still doesnt get away from the fact that the isnt any rhyme or reason to it lol
Not dissing anyone who is into it on a reasonably high level I'm just saying buyer bewareIt’s a different ball game, and many retailers don’t go through these questions, but especially if you want to buy low cap tokens you must do this. I’d make a pretty safe bet most large cap tokens will always be around from now on.2 -
Pretty sure it's designed to inflate and not hold value but yes, I've said before if I could get text alerts every time Elon tweets about doge I'd be rich, it's about the only trend it follows.AndyG said:
The Dodgecoin comment exactly what I mean mate. Apart from all the hype on the internet about Musk bugging it up the only real information I can find is that it was created as a joke. One of my sons is holding quite a bit of it and for the last 2 weeks I have been telling him to sell but he hasnt and it has proved me wrong every day. This morning I told him to sell once again to which his reply was not a chance Elon is on Saturday Night Live tonight it will fly again tomorrow! Maybe it will but I stand by my opinion that it isnt something I would want any serious cash tied up in. I admit I know very little and perhaps I'm just old fashioned but my gut instinct is telling me alot of folk are going to lose a pile of cash at some point if the whole thing combustskentaddick said:
You can do similar with crypto: whats their usage, what’s their roadmap, what’s their supply? How’s their supply allocated? Are there locked/burned tokens? Are there any large holders that can dump on you and rug at any time? Has their token been audited by a third party? Who are the devs? Are they anonymous? What partnerships do they have? Are they real? - if you asked any of this of dogecoin you would run a mile.AndyG said:
No not at all mate. The difference is though with a traditional business you can with a little bit of research see what it is they produce or sell, you can see what their management structure is, you can see how they intend to conduct business. Then you can make an informed decision on investing or not. No guarantees of it working ofcourse but you do have something to go on.kentaddick said:
Most businesses fail, does that mean we shouldn’t invest in businesses, or speculate stock prices?Covered End said:I'm not having a dig, but here's what the B of E say.
I just hope everyone makes money and gets out in good time.
The experts will whip away most people's money and millions will be left with very little.
Good luck all.
https://www.msn.com/en-gb/money/other/cryptocurrency-has-no-intrinsic-value-and-investors-will-lose-all-your-money-says-bank-of-england-chief/ar-BB1gtAyq?li=BBoPWjQ
Crypto is somewhat a mystery and most seem to rise and fall on the back of mystery people posting theories on the internet. Sometimes it isnt mystery people take Elon Musk and what has happened to DOGECOIN recently. Goodluck to those that have made a few quid so far but being honest other than Musk what else has pushed the increase ? If he wakes up tomorrow and tweets DOGECOIN is finished then the price will tumble I would think. That just isnt right and not a good platform to risk anything you are not happy to lose.
The coins I bought a while ago when I said I would buy and hold for 12 months are doing well tbh and far better than my traditional investments but that still doesnt get away from the fact that the isnt any rhyme or reason to it lol
Not dissing anyone who is into it on a reasonably high level I'm just saying buyer bewareIt’s a different ball game, and many retailers don’t go through these questions, but especially if you want to buy low cap tokens you must do this. I’d make a pretty safe bet most large cap tokens will always be around from now on.0 - Sponsored links:
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No football on Saturday so you just gotta troll. Sad.Covered End said:
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Doge looks terrible. Looks like a blow off top and Bearish divergence. Very shortable. Easy crash down to 40cents imo0
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I worked in financial services all my life as a Bank Manager and then a Financial Adviser.kentaddick said:
No football on Saturday so you just gotta troll. Sad.Covered End said:
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“I think the internet is a fad, I’ve worked in fax machine distribution all my life”, Cool story bro. Go ask your Goldman sach mates why they’ve now opened up a crypto trading department if it’s such a ponzi.Covered End said:
I worked in financial services all my life as a Bank Manager and then a Financial Adviser.kentaddick said:
No football on Saturday so you just gotta troll. Sad.Covered End said:I’m all for coming on here and asking questions, but no point deliberately trolling what is an otherwise constructive and informative thread.2 -
Eth, fair play to it0
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90% in the last month0
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I hope you dont think I'm knocking it mate. I know I saw some negative stuff but mean it in a constructive way. I admit I know little about the subject but I'm genuinely interested which is why I took a punt on a few so I had a reason to follow the market and hopefully learn. I'm sure crypto is here to stay but also pretty sure nowhere near in the numbers that exist as we speak. This means alot of people who are holding the big majority of coins that will die away will lose their money imo. If you are lucky to be holding the ones left then profit to be made. My point is it's very difficult I think anyway to try and filter out the shite. 1 coin called SHIB risen by 402% today and 26k% in the last month !! Makes absolutely no sense lolkentaddick said:
“I think the internet is a fad, I’ve worked in fax machine distribution all my life”, Cool story bro. Go ask your Goldman sach mates why they’ve now opened up a crypto trading department if it’s such a ponzi.Covered End said:
I worked in financial services all my life as a Bank Manager and then a Financial Adviser.kentaddick said:
No football on Saturday so you just gotta troll. Sad.Covered End said:I’m all for coming on here and asking questions, but no point deliberately trolling what is an otherwise constructive and informative thread.1 -
Welcome to the new world! Time to leave the medieval ages behind you!Covered End said:
I worked in financial services all my life as a Bank Manager and then a Financial Adviser.kentaddick said:
No football on Saturday so you just gotta troll. Sad.Covered End said:2 -
Not at all. I like when some one comes into the thread to challenge or learn more. Helps with my own understanding of stuff. Meme coins are shit, pump and dump ponzis. But like every emerging market there’s shit and there’s genuinely groundbreaking stuff.AndyG said:
I hope you dont think I'm knocking it mate. I know I saw some negative stuff but mean it in a constructive way. I admit I know little about the subject but I'm genuinely interested which is why I took a punt on a few so I had a reason to follow the market and hopefully learn. I'm sure crypto is here to stay but also pretty sure nowhere near in the numbers that exist as we speak. This means alot of people who are holding the big majority of coins that will die away will lose their money imo. If you are lucky to be holding the ones left then profit to be made. My point is it's very difficult I think anyway to try and filter out the shite. 1 coin called SHIB risen by 402% today and 26k% in the last month !! Makes absolutely no sense lolkentaddick said:
“I think the internet is a fad, I’ve worked in fax machine distribution all my life”, Cool story bro. Go ask your Goldman sach mates why they’ve now opened up a crypto trading department if it’s such a ponzi.Covered End said:
I worked in financial services all my life as a Bank Manager and then a Financial Adviser.kentaddick said:
No football on Saturday so you just gotta troll. Sad.Covered End said:I’m all for coming on here and asking questions, but no point deliberately trolling what is an otherwise constructive and informative thread.
I just think it’s trolling when some one simply posts a link to the emperors new clothes and nothing else, then claims to have been a financial advisor, which some how means it’s ok for them to troll and derail the thread.0
https://www.youtube.com/watch?v=PAHnjvh5qIU
