Crypto Currency (O/T & an apology)

Discussion in 'Bulletin Board' started by RedVesp, Oct 7, 2021.

  1. Red

    RedVesp Guest

    Well, following on from the previous thread on this subject (and NFTs) where I had a mini meltdown and managed to piss off two good people, I've decided to lump 200 quid on 4 different currencies.

    I'm still not 100% sure what I'm doing, but it's an amount I'm prepared to lose in order to learn.

    Sorry to @Spirit Ditch and @Loko the Tyke , I was bang out of order. If I make anything off it I'll buy you both a pint (or transfer you the equivalent amount in bitcoin) :D
     
  2. Andy Mac

    Andy Mac Well-Known Member

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    I don't get get it at all, but in the summer I lumped £250 into Binance and spread it over 6 different currency thingies. It crashed the week after, and my £250 went down to less than £100 at one point. It has recovered a bit, but the highest it got was £252 !?!?! Currently £230.60

    I missed the boat 5 years ago when colleagues got into it. I had no spare cash. Lad at work saw his initial £1500 jump to £48k at one point.
     
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  3. Tyk

    Tyketical Masterstroke Well-Known Member

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    What have you gone for?
     
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  4. Red

    RedVesp Guest

    Bitcoin, Ethereum, Bitcoin Cash and Litecoin.

    I'm pretty impulsive so I've no idea if they're any good, just using this as a way to figure out how it all works in real-time. I learn better by doing, not watching/reading.
     
    Last edited by a moderator: Oct 7, 2021
  5. Andy Mac

    Andy Mac Well-Known Member

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    I picked the ones with names I like. It's a bit like my horse-backing strategy.
     
  6. man

    mansfield_red Well-Known Member

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    Nobody is!
     
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  7. orsenkaht

    orsenkaht Well-Known Member

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    Don't do it! :eek:
     
  8. Redhelen

    Redhelen Well-Known Member

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    Did he cash it in?
     
  9. Andy Mac

    Andy Mac Well-Known Member

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    He is currently looking at how to release it in a tax-friendly manner.
    Or
    Semi-retirement then working on investments as a hobby for more growth.
     
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  10. Redhelen

    Redhelen Well-Known Member

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    I'd just get it out of there pronto before it all disappeared again, regardless of what tax was due!
     
  11. exiled

    exiled Well-Known Member

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    Whilst I believe it's true HMRC have a relationship with Binance and Coinbase, there are many exchanges they don't.
    As ever, dyor and I'm obvs not advocating tax evasion, probably, but we've paid tax on it once as earnings, before gambling it on crypto.
     
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  12. Redhelen

    Redhelen Well-Known Member

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    Also made a huge profit on it even if half is taken as tax!
     
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  13. exiled

    exiled Well-Known Member

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    .

    I find this channel amongst others very informative. She has stuff on all sorts of crypto and is particularly good for beginners, also non of the usual US hype as she's from Wakefield
     
  14. TonyTyke

    TonyTyke Well-Known Member

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    I've seen her before but she doesn't seem as knowledgable as she might.
    But she's from Wakey and looks like someone at work so I sort of like her.
     
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  15. Spirit Ditch

    Spirit Ditch Well-Known Member

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    It's counted capital gains tax, so nowhere near that and only after around £12000 off the top of my head
     
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  16. Spirit Ditch

    Spirit Ditch Well-Known Member

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    Nice one mate, that's cool to see. I don't think you'll regret it personally. For what it's worth, Plan B , the analyst who created the stock to flow model has bitcoin at minimum 100k.by the end of the year, and he's been right consistently for years. BTC is increasingly the hedge of big business to counter inflation (And a state currency in Panama- others likely to follow). Ethereum is amazing, and increasingly adopted.

    And btw the last celebrity to get on the nft train was Reece Witherspoon heheh!
     
    Last edited: Oct 16, 2021
  17. Loko the Tyke

    Loko the Tyke Administrator Staff Member Admin

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    You had me sold at Wakefield!
     
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  18. Loko the Tyke

    Loko the Tyke Administrator Staff Member Admin

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    The only one there I’m not familiar with is Bitcoin Cash. I haven’t bought any Litecoin but it’s a strongly tipped one.

    I’ve been throwing £50 at any new coin or low value coin that gets any kind of press coverage (by press I mean social or Reddit).

    I bought some Shiba ages ago, about £60, and it bombed to as low as £15, but recently rocketed out of nowhere to £150. That might be the highest it ever goes, but I’ve got 5 million coins worth so if it wants to keep going I won’t complain.

    Trying again to get my head around NFTs. I don’t really know what I’m doing with Crypto to be honest but I just like to be in with a shot if we’re talking monthly Bet365 allowance up front.
     
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  19. dreamboy3000

    dreamboy3000 Well-Known Member

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    XRP has done well in recent weeks. About time their court case was over so it can hopefully start heading faster towards their all time high that it's still miles off.
     
  20. Wat

    WatfordRed Well-Known Member

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    Some of the alt coins are really going to run high at the end of this year I reckon. I'm pretty invested in QNT - which looks like it has incredible future potential.
     

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