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.

 

[flyerskyangle]

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.

In this world nothing can be guaranteed . Money become less everyday, so is BTC.
When you hold it, more people have to hold less.
About the value, when people use it, then it’s valuable. Just like money,gold, buy collection card is impossible do that.
Just like gold, if everyone accepted it ,then it valuable.

 

[DreamRJ]

To be honest. I also do not trade or use Bitcoin. It never interested me. But my 2 cents is this. I would say thanks to Elon Musk who bought 1.5 Billion worth recently, which obviously then caused the price to skyrocket to new highs in the last weeks... I suspect that once Mining has been exhausted in the next 30 years. Then there will be no more bitcoin to be mined.

I then do think that bitcoin will reach brand new highs again then. but until then, it will just be up and down. It will crash multiple times and gain back again. Unless something happens to the entire market or a huge global depression or financial crash that affects every part of the economy including bitcoin. Then I would to be honest sell them right now while the price is still decent, rather than waiting and hoping the price will increase further.

But saying that. If more huge investors buy huge amounts again or more huge companies start accepting bitcoin as a payment method then that will also increase the price. So many factors involved.

I read so many stories of people who mined bitcoin and they then lost the old computer and their bitcoins because of it and they would have been rich now if they still had access to them.

Anyway that was my 2 cents worth.

 

[Spikie]

Volatility is the problem when it comes to people actually buying things with it , rather than as a speculative investment.

Whilst people think they will become rich by buying and holding , it will never get used for real world purchases.

Also fees are high and transaction times slow . And easy to lose it all if you lose the keys . No insurance against theft etc.

there are so many factors against it being used for normal transactions, absolutely no advantages to anyone that uses a normal debit / credit card .

So it is a bubble , and will pop

 

[Slottery]

Think that most of people who are interested about cryptos and possible use cases are putting their small monies to some other projects than BTC which as technology is already quite old, extreme expensive transactions, not to mention electric consumption which i think just got higher than in the whole Norway which anyway is few million people country, not just blockhain.

There are various projects that could actually provide something to many things, first to come in mind, transafers/transactions, SWIDT start to be quite old and not very cheap either, tokenization projects could bring some easy ways to people trade between themselves without some centralized provider etc... 95% of these coins/tokens are and going to be just shit without any real life use, last few years it's been just so easy to make token and list it somewhere and post cool hype posts to own website and groups to pump price high for little moment and say bye.

Many say that blockchain technologies provide answer to problem which doesn't exist, at least in that scale that this answer would anyhow be useful in real life.

BTC gonna be and stay there, it's that THE First one which all recognize from name and fact that it's limited amount of it ever gonna exist, it most probably hold value like most of old things which are not made anymore. It's practical use gonna be pretty much same level than some collection card or other old thing which gains value just because there is demand but don't hold anything itself, BTC itself don't solve any problems and like said, it's already old technology which for mentioned reasons not gonna be something to be used in everyday payments, there are much more developed ways already and more to come.

 

[slotmaster]

Volatility is the problem when it comes to people actually buying things with it , rather than as a speculative investment.

Whilst people think they will become rich by buying and holding , it will never get used for real world purchases.

Also fees are high and transaction times slow . And easy to lose it all if you lose the keys . No insurance against theft etc.

there are so many factors against it being used for normal transactions, absolutely no advantages to anyone that uses a normal debit / credit card .

So it is a bubble , and will pop

100 percent this. Though I think it will go down again I think it is not going away completely.

 

[mack341]

At some point it's surely got to go tits-up, but who knows

 

[neon claws]

Yes, typically ponzis collapse once no one new can be brought in. Given that btc is global, that's likely a fair way off.

 

[me_and_ed]

My eldest son and I bought 15.5 bitcoins a couple years back at $1300/btc, I was very skeptical and frightened, he told me 10k we sell......we sold 10 BTC when it hit 10k, I thought we were big winners.....wooohoooo.......thank god we still have 5.5 left.......It will continue to rise.

 

[mack341]

can you buy small fractions of 1 coin?

the price I see today is 1 btc equals £34,176, that's ridiculous to me, but the recent high was £40,973...glad I'm not in this 'late' game my arse would be twitching right about now!

edit: is somebody somewhere still 'mining' coins to add into the supply?

 

[slotmaster]

can you buy small fractions of 1 coin?

the price I see today is 1 btc equals £34,176, that's ridiculous to me, but the recent high was £40,973...glad I'm not in this 'late' game my arse would be twitching right about now!

edit: is somebody somewhere still 'mining' coins to add into the supply?

Yes, you can buy a fraction.

 

[slotmaster]

Every time I see FUN climb the chart I think of @KasinoKing LOL. I only have a little bit in crypto and just hanging around the same amount since I deposited.

 

[KasinoKing]

Every time I see FUN climb the chart I think of @KasinoKing LOL. I only have a little bit in crypto and just hanging around the same amount since I deposited.

Yeah - they are still proving to be a FUN investment!
I've still got 770,000 and even I am surprised how they have kept rising.

I originally had 1.17 million of them, but changed 408,000 into DigiByte and VeChain in March - and they have performed even better than Funfair!

Overall my Crypto's are now worth 3x the original investment that I made in Dec 2017, but a year ago it was very bleak when they were down to only about 12% of what I put in!

KK

 

[neon claws]

Overall my Crypto's are now worth 3x the original investment that I made in Dec 2017, but a year ago it was very bleak when they were down to only about 12% of what I put in!

KK

Wouldn't you have been better off just putting it in Bitcoin? Btc is up over 5x since I bought in and it was nowhere near that long ago.. maybe a year or something.. and it hasn't had 88% dives...

 

[KasinoKing]

Wouldn't you have been better off just putting it in Bitcoin? Btc is up over 5x since I bought in and it was nowhere near that long ago.. maybe a year or something.. and it hasn't had 88% dives...

If I had crystal balls - yes!

Like I think I have already said in this thread - hindsight is a b*tch!

KK

 

[neon claws]

If I had crystal balls - yes!

Like I think I have already said in this thread - hindsight is a b*tch!

KK

Well, yes and no- conventional wisdom is that if you're going to get into crypto just stick with btc. It has a track record and there's been literally thousands of other alt coins that have made big short term gains for a few weeks, maybe months but then just crashed entirely.

To me, btc is volatile enough, doubling down on trading or alt coins just seems suicidally risky.

 

[Slottery]

Guess it depends also if you are willing to do any trading or just buy and hold. If willing to do some trading, it's not really huge risk to get in something when it start to go up and get out early enough like now i'm happy to get rid off most of XRP:s i have, don't have any intention to see if it goes to moon or crash but get my pennies and be happy, same with any other token and whatever assets i have, cryptos, stocks,etf, funds etc.

That naturally needs some more effort than pure passive holding but if having any experience about trading assets, it's quite low risk and good pay per hour what it takes to follow and act. There's not much difference in these exchanges than any other ones, crazy volatility to be one but still pretty much same ball game in any exchange from Betfair, Stocks and Cryptos. No need to be wake 24/7, in any exchanges you can quite easily add your limits and margins and get your orders automatically executed when your price is available.

Of course this is pretty much zero sum game, all you win, you take from others in market, there is no any external funds coming in, everything you have is from others pockets. Therefore you don't even need to be Gordon Gecko to make some profits as long there are some people who money you can take and in last 12 months, huge amount of money have come to crypto markets and there are loads of people who just quite randomly buy something their neighbour told is good etc... without any further understanding and majority of them will pay for their learning curve and their funds are transferred to others.

It's bit like poker, as long you play in table you can beat, nothing can stop you from making more money, now there is an extreme amount of not very sophisticated money all around, little bit like you would play poker on your normal best level but you realize that bets are much higher but opponents still bad as before. Not gonna last for ever, therefore i'm all the time happy to collect possible winnings to less volatile places and just have certain amount in bit more active trading, it's better for my blood pressure to have taken my share from this bull, now just keep playing as long this goes on and every week what can make some more is extra, if most of cryptos would default tomorrow, would still be really happy what have got from them.

 

[KasinoKing]

Well, yes and no- conventional wisdom is that if you're going to get into crypto just stick with btc. It has a track record and there's been literally thousands of other alt coins that have made big short term gains for a few weeks, maybe months but then just crashed entirely.

To me, btc is volatile enough, doubling down on trading or alt coins just seems suicidally risky.

Well yes and no - I didn't have ANY wisdom when I started dabbling in cryptos!

It was December 2017 when I first started buying alt coins using the Btc I already had - and I made some HUGE mistakes, it's true.
My worst mistake was buying $2,900 worth of SALT - now worth $130. DASH and Ethereum Classic were also very bad investments.
But then, I also bought $8,900 worth of Funfair - now worth $49,500.
6 months ago I bought $2,100 of Cardano - now worth $25,000.

Yeah, I would probably have been better off keeping the Btc - but who knew they would hit $60K!

KK

 

[slotmaster]

I friggin love BTC! New profit high today for me on this deposit. All in BTC and what I call Bitcoin Split, BTCST

 

[slotmaster]

I cashed out when ahead on BTCST and still got a little bit in bitcoin, now all in on DOGE! Made the most in 2 days in that than any crypto or stocks combined,lol.

Anyone else jumping on the hype doge nonsense?

 

[mack341]

Didn't elon tweet about DOGE recently, I have zero idea what it is though .... I suppose the established financial system is a bit under pressure, also being linked strongly to physical cash which many influential people/electronic payment companies would rather not exist.

Just refound it:

 

[sufferinsilence]

I bought DOGE together with my brother at €0.04, we also have some BTC and ETH, and it's at 0.28 now. Cashed out our investment so it's basically freerolling with profit right now. Doing it just for fun, didn't invest that much.

 

[slotmaster]

Didn't elon tweet about DOGE recently, I have zero idea what it is though .... I suppose the established financial system is a bit under pressure, also being linked strongly to physical cash which many influential people/electronic payment companies would rather not exist.

Just refound it:

View attachment 153971

It's a joke meme coin with no use whatsoever really at the moment. LOL

 

[slotmaster]

But lots of attention and even saw there is going to be a t.v. commercial about it, even the top stock guys are all saying it is going to go to $1.00.

All aboard the hype train! LOL

 

[geordiecolin]

I cashed out when ahead on BTCST and still got a little bit in bitcoin, now all in on DOGE! Made the most in 2 days in that than any crypto or stocks combined,lol.

Anyone else jumping on the hype doge nonsense?

Pirate chain is rocketing at the moment. Its up 2,000% within just a few months and it is touted as just getting started.

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[slotmaster]

Oh ya, the other day $68 billion dollars were traded in it and it is crashing the crypto sites, I had to try myself a few times to buy. That amount to put in perspective you can buy NIO, CCIV the 2 e.v. companies that are making cars, and BNGO a company that I was invested in, you could have bought 100 percent of all 3 companies with the $68 billion!