Bitcoin / altcoin

Discussion in 'Bulletin Board' started by TonyTyke, Mar 14, 2021.

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  1. TonyTyke

    TonyTyke Well-Known Member

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    Anyone on here ever invested?

    I suspect bitcoin is probably at it's peak, but just curious if anyone had done it?
     
    TonyTyke, Mar 14, 2021
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  2. thetykester

    thetykester Well-Known Member

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    I have about a thousand on a HDD somewhere, why?
     
    thetykester, Mar 14, 2021
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  3. Loko the Tyke

    Loko the Tyke Administrator Staff Member Admin

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    I bought some BTC and ETH not that long ago. Like two weeks ago. Currently in about 10% growth but could flip the other way at any point
     
    Loko the Tyke, Mar 14, 2021
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  4. TonyTyke

    TonyTyke Well-Known Member

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    I've just been reading so much about it recently. Looking at putting in a small amount (something I can afford to lose ultimately). Ironically ETH was the first one I looked at.

    How did you find the process of buying?
     
    TonyTyke, Mar 14, 2021
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  5. man

    mansfield_red Well-Known Member

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    I've made a bit over the last few years but every now and then I look back on the email where I signed up with an exchange in December 2013 but couldn't be arsed to upload documents to verify my identity so didn't bother buying any :(
     
    mansfield_red, Mar 14, 2021
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  6. Loko the Tyke

    Loko the Tyke Administrator Staff Member Admin

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    Buying it was easy as I downloaded the crypto app and was verified within a few days.

    Definitely invest what you don’t mind losing and then say forget about it for at least a year
     
    Loko the Tyke, Mar 14, 2021
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  7. TonyTyke

    TonyTyke Well-Known Member

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    I think the forgetting it for a year is the difficult but, but good advice. Ta. I think I'll watch a few youtube videos and then do it.
     
    TonyTyke, Mar 14, 2021
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  8. Skryptic

    Skryptic Well-Known Member

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    Was going to buy £20 of Dogecoin a few weeks ago but apparently my bank blocked the purchase. Was aware of Bitcoin very early on, but I probably would've sold as soon as it hit $100, and definitely after it hit $1000 in 2013, so there's no way I'd have made serious money.
     
    Skryptic, Mar 14, 2021
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  9. TonyTyke

    TonyTyke Well-Known Member

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    I've been aware of it but didn't really see the point. A work colleague had one (maybe more than one) which he sold for some reason years ago. If he sold today he'd be a very rich man.

    I'd probably be the same though, make a small amount of profit and think I've done amazing. These current prices are staggering though.
     
    TonyTyke, Mar 14, 2021
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  10. TonyTyke

    TonyTyke Well-Known Member

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    TonyTyke, Mar 14, 2021
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  11. Marc

    Marc Administrator Staff Member Admin

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    I've been dabbling for the last few months. made a decent few quid out of it. got a dozen or so different companies on my watchlist on Coinbase. know nothing about any of em. I just watch for sharp drops then buy some. I'm not greedy with it though, and usually cash out at around 10%. adds up after a bit. incredibly volatile though, and it's not uncommon for things to drop 30/40/50% in days. it's basically high-stakes gambling though, as many people just see the gains and don't actually know anything about the economics of it (me included). if you're not prepared to lose your £, I'd strongly suggest staying away...
     
    Marc, Mar 14, 2021
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  12. Ses

    Sestren Well-Known Member

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    I had about a grand's worth of ETH which I needed to sell back in November in order to pay lockdown bills. With hindsight it would have been better to keep them, but the bills don't care about that. I also sold a whole load of various coins in order to pay more business bills a good few years ago. Unfortunately my financial position hasn't been good enough to follow my instincts - just one of those things really!
     
    Sestren, Mar 14, 2021
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  13. Dar

    Darfield138 Well-Known Member

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    I've been to a few gov agencies conferences on cryptocurrency (bitcoin in particular) and given internal inputs on it.
    For me there are two interesting aspects about it. First there is a limited amount of bitcoins ever to be released by the block chain protocol. How do people remunerate miners when their reward is no longer a newly uttered bitcoin?? Second in or around 2011 lily Allen turned down remuneration by bitcoin to syndicate a broadcast of a concert she did in Asia. Had she accepted payment and held on to it, she would have earned about 5 times the fortune of the entire Beatles back catalogue. It is either a genuine wonder of our age or the biggest ponsi scheme the world had ever seen. Noone actually knows.
     
    Darfield138, Mar 14, 2021
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  14. Durkar Red

    Durkar Red Well-Known Member

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    Durkar Red, Mar 14, 2021
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  15. Marc

    Marc Administrator Staff Member Admin

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    bold claim. this is the worry. happened a few weeks ago. Elon Musk bought some, price went up around 30% overnight. based on nothing more than 'well if Elon Musk is buying some, it must be good'. the ones who make real money, are those who can either afford to buy a colossal amount, or those who just have the balls to hold out. how many people will wait until it hits that kind of value? chances are the vast majority of people will cash out way before then.
     
    Marc, Mar 14, 2021
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  16. Tyk

    Tyketical Masterstroke Well-Known Member

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    Held some BTC, ETH and an assortment of shitcoins since about 2016.

    I don’t think you’re right about Bitcoin peaking just yet, I think it will get to at least $100k this cycle .
     
    Tyketical Masterstroke, Mar 14, 2021
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  17. dreamboy3000

    dreamboy3000 Well-Known Member

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    dreamboy3000, Mar 15, 2021
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  18. budmustang

    budmustang Well-Known Member

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    I found the experience of uploading one after another document to be too scary. The site I was on didn't say upfront what needed to be uploaded so I balked at an unrecognised website continually asking me for more ID without any foreseeable end.
     
    budmustang, Mar 15, 2021
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  19. Eas

    East Grinstead Tyke Active Member

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    Does anyone want to buy some tulips?
     
    East Grinstead Tyke, Mar 15, 2021
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  20. churtonred

    churtonred Well-Known Member

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    got any black ones?
     
    churtonred, Mar 15, 2021
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