neon claws
Non-Gambler
- Joined
- Jan 5, 2020
- Location
- Australia
Holy cow you guys need to be buying Bitcoin, it's going nuts.
Holy cow you guys need to be buying Bitcoin, it's going nuts.
@Scott1baird for the holy cow experience.Holy cow you guys need to be buying Bitcoin, it's going nuts.
English please,lolNot really, keep selling it all the time while it goes up to keep my $ amount position same, don't wanna own too much one asset and getting much higher interest rate for stables/fiats than btc.
The best time to have bought into bitcoin was back in the spring. Maybe it has just about hit its peek now? Buying and selling it at the right time could be extremely lucrativeHoly cow you guys need to be buying Bitcoin, it's going nuts.
You're getting a higher interest rate than 400%/pa?Not really, keep selling it all the time while it goes up to keep my $ amount position same, don't wanna own too much one asset and getting much higher interest rate for stables/fiats than btc.
You're getting a higher interest rate than 400%/pa?
Too right!The best time to have bought into bitcoin was back in the spring. Maybe it has just about hit its peek now? Buying and selling it at the right time could be extremely lucrative
Ya that is the question. For me I am conservative or a scaredy cat,lol. So doubling my money is good enough for me,lol.Too right!
I made the big mistake of buying loads of altcoins when they all started rocketing just before Christmas 2017...
Totally the wrong time - should have done it 2 weeks before.
Then I would have made a small fortune instead of losing one.
Hindsight is a b*tch.
3 years later and some of them have finally got back above my buy price!
But the BIG QUESTION no-one can give an answer to with Crypto-currencies is... WHEN is the right time to sell?
KK
Exactly. Do you follow anyone on social media platforms who has been at the forefront of Bitcoin for years and keeps regular updates ?Too right!
I made the big mistake of buying loads of altcoins when they all started rocketing just before Christmas 2017...
Totally the wrong time - should have done it 2 weeks before.
Then I would have made a small fortune instead of losing one.
Hindsight is a b*tch.
3 years later and some of them have finally got back above my buy price!
But the BIG QUESTION no-one can give an answer to with Crypto-currencies is... WHEN is the right time to sell?
KK
Nope.Exactly. Do you follow anyone on social media platforms who has been at the forefront of Bitcoin for years and keeps regular updates ?
You're right - we should all be happy with doubling our money - whether it be a casino deposit or some other investment.Ya that is the question. For me I am conservative or a scaredy cat,lol. So doubling my money is good enough for me,lol.
Ya I hear ya, I feel the exact same and have sold early many a times only for it to go to record highs. I was telling my co-workers today about my post and if I held on and bought when first told, I would be a millionaire.You're right - we should all be happy with doubling our money - whether it be a casino deposit or some other investment.
I'm scared too - but mainly scared of cashing-out too soon and losing a potential huge pay-day.
e.g. towards the end of 2016 I cashed out a total of 38 Bitcoins for a total of $36,000...
If I had held on to them, today they would be worth $1,292,000
In November I bought $2,135 of Cardano - now worth more than double.
BUT... is that the peak, or will they rocket too? Or will they crash and burn like some other coins I bought?
Who knows!
KK
I'm going to sell enough to have doubled my money and leave the rest in which is still plenty and then review in a couple years.
Im just trying to learn here and understand what impact it will have on the value of cryptocurrencies after it has become more mainstreamed and accepted by more & more merchants.. would that make the value of it go up or go down or will it stabilize it? Anyone have any ideas?But how about the fact that we are still not seeing crypto as a payment method at most vendors yet?? Don't you think that once it starts becoming more and more available over time especially if some of the big name companies, for example, Google Play or Apple Pay start using it as a standard payment method, don't you think that it will skyrocket at that point or soon after? I'm not an expert at all but it kinda seems like that is how it would work. Maybe I'm wrong tho
Im just trying to learn here and understand what impact it will have on the value of cryptocurrencies after it has become more mainstreamed and accepted by more & more merchants.. would that make the value of it go up or go down or will it stabilize it? Anyone have any ideas?
Ya I hear ya, I feel the exact same and have sold early many a times only for it to go to record highs. I was telling my co-workers today about my post and if I held on and bought when first told, I would be a millionaire.
Same with housing really, The last house we moved from just sold for $729,000 albeit they did inside work and added a bathroom. We bought it brand newly built, for like $250,000 many years ago and I tried and tried to tell my parents to stay as prices were starting to go up, they did not listen. Right now could have had hundreds of thousands in the bank.........Frustrating.
No, they did not buy again.That's not how the housing market works. Unless you own a few properties and are selling up.
When your parents sold up, they presumably bought another house, and the price was reflective of the market then.
The house they have bought would now be worth a lot more than was paid at the time.
So they would not have $475k sitting the bank doing nothing.
Thanks your your thorough reply I appreciate your opinion and I agree with you about the stable coins. It makes sense .One reason is huge volatility in cryptos which makes it difficult to pay things when your difference can be anything like 34% within last 24h, BTC was year ago around ten time less valued what it is now, that of course can be sorted by converting prices to usd/euro or what ever fiat currency.
Easiest way at the moment is to keep some of your cryptos (and transfer there always when you want to spend) in some wallet which offer you Debit card (like. crypto.com as one example, many others exist and more and more coming all the time) and you can convert your cryptos to which ever fiat currency inside that wallets exchange and then make your purchase or take money from ATM etc.
I have several different cards which i can top up with cryptos, all have their own benfits and different level cashbacks so when ever i want to use them, i just transfer cryptos (or stable coins of course as well) to that wallet which card i want to use and convert it to Euros. Whole process just take a moment, if i have funds in that wallet in question, then it's just seconds to top up them to card and use it.
There are always more and less volatile assets, some keep making crazy jumps but these are more to buy/sell/trade than use for payments as you often buy them in hope their value increase, but anytime you want to spend part of them and often also when you want to "cashout" some of that price raise, you just exchange them to fiat or stable currencies, i prefer to use stablecoins as these values are connected to fiat currrencies, mostly usd and are like name their name says, really stable with their price. Also for these stable coins, several companies pay you over 10% annual interest just for holding them in their wallet (ie. Celsius, Nexo) which make them quite tempting option compare to have all your funds in bank with 0 interest and these are really fast to transfer compare to banks swift transfers.
Sorry, long messy text made middle of working with not much concentration but posted it anyway
What do you think about the idea of buying a few coins of all the new alt coins while there cheap and I'm sure at least one of them will eventually pan out and their price will be like bitcoin someday