Bitcoin, the biggest gamble?

[slotmaster]

Off to a blazing start again today in stocks and back up or slight in profit in crypto!

 

[slotmaster]

Like yesterday it dropped again. Just want to make it to the end of the day with o.k. profit and maybe look at withdrawing that profit,lol.


Wish I had the money when Tesla did their split as I would have bought then, I think and my personal opinion the way it is going it will be like Amazon and the price will be in the 1,000's.

 

[bamberfishcake]

There are loads of exchanges that offer trading platforms if you wanna "gamble" some token values by day trading, it's not different for stock or any other assets day trading, you buy something which price you think goes up and then sell with profit, that's quite near of gambling like poker, sports trading etc... where you just "bet" against others, somebody sell, you buy and vice versa, it can be entertaining but have never been interested to trade these margins but it's not far from playing slots as it's fast pace where you buy/sell all the time when price reflects. Some buy and sell alt coins, not day trading but buying and then selling when price goes up some %, as you know cryptos have huge volatilities and some 20-30% up OR DOWN in 24h is something what been happening for even biggest ones like BTC and ETH.

A friend stopped playing slots and trades almost daily on coinbase. Short story is he is thinking of going back to slots lol.

Im fascinated by the whole crypto coin thing and would have definitely bought some Btc if I had the spare cash. Always an excuse for something else but the more and more i read, i think i should be taking a punt. Probably not the day trades but a little here and there much like you have been describing.

Thanks for taking the time to explain so much, nice informative post for a dummy like me

 

[slotmaster]

Hanging around the same level for crypto, Need litecoin to be like bitcoin with ethereum doing the same,lol

 

[Slottery]

A friend stopped playing slots and trades almost daily on coinbase. Short story is he is thinking of going back to slots lol.

Im fascinated by the whole crypto coin thing and would have definitely bought some Btc if I had the spare cash. Always an excuse for something else but the more and more i read, i think i should be taking a punt. Probably not the day trades but a little here and there much like you have been describing.

Thanks for taking the time to explain so much, nice informative post for a dummy like me

Like said, day trading is zero-sum game and everytime you win, somebody lose, so need to be better than some others, could say bit like in poker, we all know the rules how to play but still it's quite few who have patience to get themselves to constant winners, patience and mindset maybe biggest factors, at least for me to handle

Cryptos are not like most traditional things you invest, these also are kind of zero-sum game, like bitcoin, there is no any value gaining to that, there is certain amount of them and price only reflects when people buy and sell, when people like to buy, price going higher and other way round, and there are times when prices drop big in short time, i try to think them more as hobby than way of pension savings, would never put all my money in them, my blood pressure probably couldn't take these huge ups and downs

I think easiest way to get in cryptos is just open account somwhere where you can deposit funds from your bank account when you wish, can make it what ever amount at the time and amount can really be what ever, think that £20 is enough to meet minimum amount to buy most of cryptos in many places and then also can get debit card attached to service which make it really easy to use them as well. There are already quite few options and more coming all the time, mentioned Coinbase is offering everything what needed, one quite easy and simple as well is crypto dot com (that was maybe first debit card i got to crypto wallet if remember right), dunno which would be best but quick look at their fees, card benefits and other stuff probably give answer which suits best to your needs, KYC process is really basic ID+POA, only have been requested SOW once which is way less than online casinos

edit: Just to clarify, i'm not doing any day trading myself, i just buy something which i think have some upside it's price and sell when think it's good time. Only trading what i do is in Betfair Margin tradings with what ever pair is just gambling against other and in short pace small changes, nobody can say for sure what's gonna happen to somethings value. Of course with knowledge and experience you get edge to many and can take their money more than they yours, but before getting there you need to make yourself better than many others, like in poker. Not great way to make money compare to time and it's boring in long run, can recommend it as one formof gambling but nothing else

 

[slotmaster]

So I was in a slight profit at the high on the weekend, kept an eye on it and it seemed to like be on the level so I had a feeling a drop was coming so I withdrew plus I want to buy more stocks, Thankfully I did as we see today, but I am still in the bitcoin mining stock which plunged so lost most of my profit from Friday.

Hopefully, it will bounce back up.

 

[Slottery]

So I was in a slight profit at the high on the weekend, kept an eye on it and it seemed to like be on the level so I had a feeling a drop was coming so I withdrew plus I want to buy more stocks, Thankfully I did as we see today, but I am still in the bitcoin mining stock which plunged so lost most of my profit from Friday.

Hopefully, it will bounce back up.

It always have bounced back so far, so why not now. Last time it took some years but as long you don't sell with big loss, you don't lose as long BTC don't totally disappear which is quite hard to believe because it's status as number one crypto. From these is impossible to forecast (everybody guess is good as others) when ATH is reached and correction in price coming, that's why like wrote earlier, willing to take profits constantly while price going up to get at least something no matter what happen

Nobody still don't know if this drop is anything further than very short time or do we get another few years of low prices, that would be nice if BTC would drop to $3k or at least under $10, would be nice to buy bit bigger again and wait for new possible high, but forecastin this price is quite different than any other assets when whole price is purely based on demand, there are no big news of company new innovations or anything what would pump stocks price.

If you don't get price you want, don't sell if you don't have to but can wait until price you want (which hopefully is there again sooner or later)

edit: and we don't even have any big drop yet

 

[slotmaster]

Thank you for your prayers in bed bath and Beyond stock up over 4$ a share today at one point and like 9$ a share since last week, woooooooo.

Abit of recovery on Bitcoin as well.

 

[lewisnadasurf]

I don’t understand Bitcoin. It doesn’t exist, yet it’s worth thousands.

I like the idea of a worldwide currency though. Don’t get me wrong.

I just find it hard to get my head around that people own technically nothing, and this nothing is worth $30,000 a coin.

Maybe I’m getting old.

 

[Slottery]

I don’t understand Bitcoin. It doesn’t exist, yet it’s worth thousands.

I like the idea of a worldwide currency though. Don’t get me wrong.

I just find it hard to get my head around that people own technically nothing, and this nothing is worth $30,000 a coin.

Maybe I’m getting old.

Think we are getting old But there's been such things to invest for long, different funds, for example just investing index fund and you never actually own anything but get money based on that certain index perform, just to give simple example, there are many hyper complicated methods and funds which some actually end up to be kind of bonzi schemes but quite big part of todays investing is just not owning anything but put your money on something and get return as agreed in contract.

Crypto values are just based on supply and demand, there is certain amount of bitcoins which gonna exist in world and price fluctuate purely how much people want to pay for it. It's available for huge amount of exchanges so most of cryptos have same market value everywhere they are available but future prices are quite hard to guess as it's not really based on lot of anything. Some tokens have clear utilization why these exist but there also are huge number of these alt tokens which just exist for people to speculate their prices, buy and sell, not much else

 

[lewisnadasurf]

Think we are getting old But there's been such things to invest for long, different funds, for example just investing index fund and you never actually own anything but get money based on that certain index perform, just to give simple example, there are many hyper complicated methods and funds which some actually end up to be kind of bonzi schemes but quite big part of todays investing is just not owning anything but put your money on something and get return as agreed in contract.

Crypto values are just based on supply and demand, there is certain amount of bitcoins which gonna exist in world and price fluctuate purely how much people want to pay for it. It's available for huge amount of exchanges so most of cryptos have same market value everywhere they are available but future prices are quite hard to guess as it's not really based on lot of anything. Some tokens have clear utilization why these exist but there also are huge number of these alt tokens which just exist for people to speculate their prices, buy and sell, not much else

Very true. One of my friends owns a hedge fund business. He tells me he never owns anything too physically (unless he doesn’t sell it for 28 days). It’s all a bit crazy for me.

 

[slotmaster]

If I actually hit the buy button sooooo many years ago when my poker friend told me about bitcoin and no one knew about it really and it had like no value and I held it to today, I would have $2.1 million.

Bought a litecoin again at like $130 and it just passed $200. Bought ether at $725 and it's like over $1400!

Now for stocks, everyone cross their fingers for my bed bath and beyond stock as they report earnings this week, first bought the stock at a price of $7 and change a share.

Saw some talk on youtube about Nio, BNGO which is up 133% today, so guess they were right so far about that one,lol LI and MARA were the other ones they said to keep an eye on.

ahem cough cough, if you listened and bought and may be sold at the right time you would have made some money, Nio still a buy and could go long term up to $300 a share, BNGO last week zoomed up and now latest news is it could shoot up to $20 and long term even to $30-$50, Li is a meh so far, mara I made a little bit on as it is a bitcoin stock but I got out of it, Everyone is saying load up on ZOM as they are releasing a product end of March, currently under a $1.00, but they are saying it could go to $3 and even $5, I have some and may buy more.

But who knows and the market could crash any day so be cautious or aware of the risk, I am telling the young-uns at work this as well.

 

[Slottery]

One certain thing is that every coin and token have people to tell this gonna rocket soon, of course that's what everybody try to do with their projects, make them valuable and increase price big time, like every company/business in any sector.

It's just unfortunate that it's very small amount of startups (like most of crypto projects are) who can make themselves long term profitable and sustainable with their business model. By reading their roadmaps, whitepapers and all provided information, with little time and effort can often judge if personally think that this project have some value in real or is it just full of optimistic that we get rich soon, like my today horse race coupon

These values what many estimate some token to be, are just guesses, mine is good as yours, you can of course count their circulation and market caps but still, nothing makes sure that something of company total value would go straight to their currency value etc. If token have good utilization and it's gonna in future be something more than speculative thing what people by and hope they win lottery, there usually are more losers than winners. Pretty same people do when they buy penny stocks, good and promising projects usually get funding from investors, if not, they start crowdfunding or sell their tokens/shares to get money to their projects, most of them been reviewed by many so called professionals who are seeking investment opportunities for their rich customers but couldn't find many tempting enough, for these companies we have change to buy these lottery tickets and see if we can cashout one time, usually my expectation is low, once deposit is done, will count it lost money in most of cases, happy surprises are happy surprises then and wouldn't invest anything big i couldn't take lose to any crypto project or oter start ups.

 

[slotmaster]

One certain thing is that every coin and token have people to tell this gonna rocket soon, of course that's what everybody try to do with their projects, make them valuable and increase price big time, like every company/business in any sector.

It's just unfortunate that it's very small amount of startups (like most of crypto projects are) who can make themselves long term profitable and sustainable with their business model. By reading their roadmaps, whitepapers and all provided information, with little time and effort can often judge if personally think that this project have some value in real or is it just full of optimistic that we get rich soon, like my today horse race coupon

These values what many estimate some token to be, are just guesses, mine is good as yours, you can of course count their circulation and market caps but still, nothing makes sure that something of company total value would go straight to their currency value etc. If token have good utilization and it's gonna in future be something more than speculative thing what people by and hope they win lottery, there usually are more losers than winners. Pretty same people do when they buy penny stocks, good and promising projects usually get funding from investors, if not, they start crowdfunding or sell their tokens/shares to get money to their projects, most of them been reviewed by many so called professionals who are seeking investment opportunities for their rich customers but couldn't find many tempting enough, for these companies we have change to buy these lottery tickets and see if we can cashout one time, usually my expectation is low, once deposit is done, will count it lost money in most of cases, happy surprises are happy surprises then and wouldn't invest anything big i couldn't take lose to any crypto project or oter start ups.

Yes, This was a topic somewhat in regards to stocks, the big banks will report bad news about a company so everyone panic sells and they get in cheap as they know it is going to skyrocket and they ended up or end up making billions.

 

[Slottery]

Yes, This was a topic somewhat in regards to stocks, the big banks will report bad news about a company so everyone panic sells and they get in cheap as they know it is going to skyrocket and they ended up or end up making billions.

Yeah, good old market manipulation Happily from these get bit easier busted these days, of course it still happens but not that sneaky as it used to. Loads of new regulation came last time after 2007 US housing pubble crashed which had big impact to most of the worlds economy...

The Big Short is quite funny movie about it, telling clearly what kind of scam these investing instruments were and how making money without caring if something is sustainable or not happened. I fully understand that for example this movie was much nicer to make as comedy, reality was just quite horrible so little laugh only made it better and easier to tolerate for many.

 

[tdbet]

Didn't read the entire thread, I believe that bitcoin will increase in value over the next ten years at least. In the past few weeks, many international companies have bought Bitcoin in millions. It seems funny to me that people speculate how viable Cryptos are while companies invest millions.

I believe that bitcoin will pass the 100k mark in the next few years.

 

[Slottery]

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.

Guess your BTC have gained quite nice value again in this one and half month (not even that) since this post?

Now seem to be time when everything everywhere goes up, not that long time ago when many people around internet skipped bying BTC as it was almost $20k already and wanted to wait next dip, same ones who been waiting for investing stock market since 2018 as bubble blows in any minute. Most probably it does but seems to take little while, covid year should ruin whole economy but currently it's biggest effect is that people who can't spend their money to day to day things, holidays etc.. spending have started to save and invest that which still keep everything going up as long people don't know where else could spend their money when everything is banned.

Online slots of course is one option but still not that popular mainstream hobby for spare money, even though casinos have got their part from covid restrictions and money which can't be spent in pubs or where ever normally would spend spare cash.

 

[neon claws]

Guess your BTC have gained quite nice value again in this one and half month (not even that) since this post?

Now seem to be time when everything everywhere goes up, not that long time ago when many people around internet skipped bying BTC as it was almost $20k already and wanted to wait next dip, same ones who been waiting for investing stock market since 2018 as bubble blows in any minute. Most probably it does but seems to take little while, covid year should ruin whole economy but currently it's biggest effect is that people who can't spend their money to day to day things, holidays etc.. spending have started to save and invest that which still keep everything going up as long people don't know where else could spend their money when everything is banned.

Online slots of course is one option but still not that popular mainstream hobby for spare money, even though casinos have got their part from covid restrictions and money which can't be spent in pubs or where ever normally would spend spare cash.

Yes it's doing really well and inline with the model I posted initially. I don't expect a large crash until October but there's no reason it won't then recover as the cycle repeats.

 

[bamberfishcake]

Yes it's doing really well and inline with the model I posted initially. I don't expect a large crash until October but there's no reason it won't then recover as the cycle repeats.

I dont profess to know much about bitcoin or trading but expecting the cycle to keep repeating cant be right can it?

It has to stop at some time doesnt it? Did Bitcoin not remain stagnant for a long time following a cycle, before it went crazy a few years back?

 

[neon claws]

I dont profess to know much about bitcoin or trading but expecting the cycle to keep repeating cant be right can it?

It has to stop at some time doesnt it? Did Bitcoin not remain stagnant for a long time following a cycle, before it went crazy a few years back?

No it's been like clockwork so far, check the original posted image or Google stock to flow Bitcoin.

Of course, like anything, it will eventually crash/pop once there's no more inflow of capital and whoever is left holding the bag at that point will be the real losers in all this - but in the meantime I'd still suggest getting in while the greetings good, it doesn't look like stopping anytime soon.

 

[KasinoKing]

Of course, like anything, it will eventually crash/pop once there's no more inflow of capital and whoever is left holding the bag at that point will be the real losers in all this - but in the meantime I'd still suggest getting in while the greetings good, it doesn't look like stopping anytime soon.

My tiny brain just can't comprehend how Btc can keep on going up and up - but it's not just that, many of the altcoins are going crazy too.
Not that I am complaining - my portfolio of about 17 different cryptos has gone up to over 10x its value of two years ago, with most of that being in the last 3 months.
I still find it pretty scary though: I'm scared to cash out in case it keeps on going up, but I'm also scared to hold in case it suddenly crashes again.
One thing for sure, trading in cryptos is definitely not for the feint hearted!

KK

 

[neon claws]

My tiny brain just can't comprehend how Btc can keep on going up and up - but it's not just that, many of the altcoins are going crazy too.
Not that I am complaining - my portfolio of about 17 different cryptos has gone up to over 10x its value of two years ago, with most of that being in the last 3 months.
I still find it pretty scary though: I'm scared to cash out in case it keeps on going up, but I'm also scared to hold in case it suddenly crashes again.
One thing for sure, trading in cryptos is definitely not for the feint hearted!

KK

I'd suggest pulling out your initial investment plus a little extra, that way you don't have to agonize over losing money.

 

[flyerskyangle]

It’s not gamble if you are only holding, if you trading then it gamble.
While this gamble is different with casinos, casinos starring with your money, if you bet you lose.
But with btc you won’t lose, who knows you have Bitcoins , if you don’t show your wallet.

 

[Slottery]

It’s not gamble if you are only holding, if you trading then it gamble.
While this gamble is different with casinos, casinos starring with your money, if you bet you lose.
But with btc you won’t lose, who knows you have Bitcoins , if you don’t show your wallet.

If you buy lot of some asset and just hold it, do you then call it investment, saving or what? Would say that many of crypto assets are so speculative that gambling is not totally wrong word to use, i think my crypto buyings more as lottery tickets than an investment like their nature bit is.

In most of cryptos like BTC, there is no any money coming to that chain outside of it, only speculators/gamblers/investors who buy it bring there money and value, then there are all network and miner fees so literally part of funds are not even staying in that chain but are taken out as these fees, there is all the time less money than people have added there. With these signs it tick quite many boxes in traditional ponzi scheme, difference in this mostly is that people know what they are doing and nobody is cheating and saying that there is any additional value coming from anywhere else than people who buy it, there's no any great business which would create value, it's just blockchain.

Of course you never lose them but you don't have any guaranteed value for them either, it's bit like you buy some collecting card which is only made certain of amount and it's price is purely made from demand, how much people are ready to pay from it. You always have your BTC or that collection card, what it's value next week or week after is different question, itself these both don't gain any additional value but are only worth how much somebody is ready to pay.

 

[neon claws]

Yep it's a gamble. As you say there's only ever going to be so much money coming in and at the end of the day if you're left holding the bag when everyone cashes out, you will lose.
It's like this GameStop thing, everyone thought it'd keep going forever for some reason.