Trading cryptocurrency?

[Waldo 96]

Crypto continuing to plummet today. Bitcoin down to £5,248 from a high of £14,376 about 7 weeks ago.

 

*gulp*

 

In other news, just heard on the TV news, New York stock exchange is down, by like 3% or something, wow.

[mafya 246]

Crypto continuing to plummet today. Bitcoin down to £5,248 from a high of £14,376 about 7 weeks ago.

 

*gulp*

 

In other news, just heard on the TV news, New York stock exchange is down, by like 3% or something, wow.

 

My brother had 7 bitcoins that stood him at £1k each, he sold them a bit back when they were worth £7k and said he wasn't getting any more crypto.

I feel sorry for those people that got caught up in the hype and bought just before the peak.

[Waldo 96]

My brother had 7 bitcoins that stood him at £1k each, he sold them a bit back when they were worth £7k and said he wasn't getting any more crypto.

I feel sorry for those people that got caught up in the hype and bought just before the peak.

 

Congrats to your brother Mafya! 600% return in probably less than a year? Not bad!

 

Yeah, crypto is one of those things where you really need to know what you're doing; and that's going to take anyone a lot of time for research and learning etc. If you don't know what you're doing, then what you're doing is basically guesswork.

 

You need to know what camp you're in; same with anything really, i.e. do you have a repeatable skill which you can consistently apply and get results, or are you basically just getting lucky? Or perhaps it's better to look at it as a spectrum; I know I'm way more towards the 'lucky' end of it than the 'skilful' end; but I guess even knowing that is a good thing, it's better than deluding yourself that you have a talent or skill for something, when you really don't.

[melthebell 863]

I really dont understand em.

 

if they are worth that much, then they arent really an alternative to normal cash avenues?

Its not like you can "buy" something worth a small amount with a single bitcoin being worth over a grand?

[Waldo 96]

I really dont understand em.

 

if they are worth that much, then they arent really an alternative to normal cash avenues?

Its not like you can "buy" something worth a small amount with a single bitcoin being worth over a grand?

 

They divisible mel. Just like a pound has a hundred pennies, a bitcoin a one hundred million 'satoshis'. However, as with most cryptos, every transaction requires a fee (which goes to the miners), the fee to send any amount of bitcoin, will be about a fiver (which is very expensive as far as cryptos go).

[Car Boot 10]

Crypto currency has been devised to facilitate illegal money laundering, organised crime, tax evasion and even terrorism.

 

All those who own this virtual currency should be considered criminals, and have their real world assets and wealth confiscated by the state as punishment for aiding organised crime.

 

Greed and stupidity is no defence.

[Waldo 96]

Always nice to see so many intelligent and informed opinions being expressed on the forum!

[Padders 2,863]

I really dont understand em.

 

if they are worth that much, then they arent really an alternative to normal cash avenues?

Its not like you can "buy" something worth a small amount with a single bitcoin being worth over a grand?[/QU

 

Bit like owning a valuable painting mel, you can"t spend it.. buy one for a £1,000,000 quid. wrap it up then sell 2yrs later for £2,000,000. big con.

[Waldo 96]

Bit like owning a valuable painting mel, you can"t spend it.. buy one for a £1,000,000 quid. wrap it up then sell 2yrs later for £2,000,000. big con.

 

That's not correct Padders. It's more like a big painting worth £1 million, but you can own, buy and sell any portion of it down to 1 pence worth.

[Marsman 10]

Now that the prices of the coins have fallen substantially, in the estimation of many pundits (on YouTube ) the time is now right to dig into your pockets and buy some cryptos. I've got some €s winging their way to Coinbase to do exactly that. Not that I know much about the subject but it seems like the time is right to test the waters.

[Waldo 96]

Now that the prices of the coins have fallen substantially, in the estimation of many pundits (on YouTube ) the time is now right to dig into your pockets and buy some cryptos. I've got some €s winging their way to Coinbase to do exactly that. Not that I know much about the subject but it seems like the time is right to test the waters.

 

I find this chap quite helpful, gives a good analysis and reasoning behind his position on particular coins and trends.

 

https://www.youtube.com/channel/UC4nXWTjZqK4bv7feoRntSog

 

I'm tempted to get some more Ethereum (not so sure about Bitcoin though).

[bkcin 10]

Crypto continuing to plummet today. Bitcoin down to £5,248 from a high of £14,376 about 7 weeks ago.

 

*gulp*

 

In other news, just heard on the TV news, New York stock exchange is down, by like 3% or something, wow.

 

But remember the price from this time last year, ~£700

 

---------- Post added 06-02-2018 at 15:20 ----------

 

Crypto currency has been devised to facilitate illegal money laundering, organised crime, tax evasion and even terrorism.

 

All those who own this virtual currency should be considered criminals, and have their real world assets and wealth confiscated by the state as punishment for aiding organised crime.

 

Greed and stupidity is no defence.

 

It seems like you completely misunderstand what cryptocurrency is in that case