MadManMike Posted April 17, 2021 Report Share Posted April 17, 2021 (And yes, 140,000 coins x $5000 would easily be retirement funds lol... I wasn't referring to those coins as being potentially $5k a piece, before anyone points out I could easily retire on 700 million dollars ) Quote Link to comment Share on other sites More sharing options...
marg26 Posted April 17, 2021 Report Share Posted April 17, 2021 Apparently Paris Hilton litterally dreams about non fungible tokens Quote Link to comment Share on other sites More sharing options...
dann2707 Posted April 18, 2021 Report Share Posted April 18, 2021 Just bought some dogecoin with having absolutely no idea what I am doing but hey ho Quote Link to comment Share on other sites More sharing options...
Joe Aston Posted April 18, 2021 Report Share Posted April 18, 2021 On 17/04/2021 at 10:53 AM, ItsMatt said: 2019 ADA?! I hope you're staking it. What do you mean? Quote Link to comment Share on other sites More sharing options...
Ali C Posted April 19, 2021 Report Share Posted April 19, 2021 so here's a theory. Bitcoin was brought to existence by a Chinese company/person. The recent crash was brought about by a Chinese compay. China are buying up gold, it gives them protection against inflation The west are selling their gold and more and more people/companies are buying up Crypto Tin foil hat moment...what if this is a long play strategy from China to dupe the world into buying into a format that they can control all the while building up their reserves of gold and fiat currency. Once the world has become more dependant on crypto they can crash it and become the most powerful country in the world? 1 Quote Link to comment Share on other sites More sharing options...
Mark W Posted April 19, 2021 Report Share Posted April 19, 2021 No real idea about all of this, but from my limited understanding of it Bitcoin isn't going to be likely to be the coin that takes over ultimately so they probably wouldn't get too much out of that specifically? At the moment though, USD is the main currency used for global trade which gives the US a lot of power (as one example, they can create sanctions against Russian and Chinese individuals/companies by effectively blocking them from using USD). If they lose some of that due to some form of decentralised currency taking over, they lose that power. Similarly, if more people start using any form of decentralised currency, countries lose the ability to tax people as effectively. Taxation funds governments, so if they lose some of that, they again lose power. Cryptos are disruptive, and China and Russia are always looking for ways to destabilise the West in general. Targeting the economies of those countries gives a big upside for them, especially if all it really takes is nudging some cryptos in the right direction. China controls their own economy so tightly that any potential net negatives from more widespread crypto use won't affect them, and Russia are pretty much just trying to knock everyone else down regardless of what else happens. Found this interview really interesting. I'd recommend just skipping the intro and going straight to the interview itself at 13mins in. The bit about how NFTs/similar can be used to pay people in a more fair/equitable way was something I hadn't really considered before. The bit later in about cities creating coins/NFTs that you have to buy to live in certain places, universities doing similar that then allow them to take a share of your future earnings (in lieu of fees), etc. are interesting concepts too. Quote Link to comment Share on other sites More sharing options...
marg26 Posted April 19, 2021 Report Share Posted April 19, 2021 I think its the "proof of work" thing about Bitcoin and Ethereum that's the problem with their longevity? Ie it's computationally intensive on hardware, so slower, so the miners have to charge more (gas) for the transactions whereas newer crypto such as Cardano ADA use "proof of stake" which is faster, less resource intensive so cheaper. The UK government is looking into plans to create it's own crpto. Quote Link to comment Share on other sites More sharing options...
ItsMatt Posted April 19, 2021 Report Share Posted April 19, 2021 8 hours ago, Ali C said: China You're almost right, china has owned over 50% of the bitcoin miners for a looooong ass time since they have cheap coal power and miner production. Meaning they have huge control over the market. Crypto is defo a pin in the board of their plan to world domination but I don't think it will play that much of a part in it, the more global hedge funds and "big" money gets involved the more support there is at lower prices. https://uk.tradingview.com/symbols/CRYPTOCAP-BTC.D/ The lower the bitcoin dominance the more money flows into alt coins and the more decentralized the whole market becomes. Ripple is trying to tie the whole space together on the back end to help the liquidity issue associated with fiat vs crypto. They're getting pretty damn far with it. currently having legal "issues" in the states with the SEC but that's more of a show and a way to set out the regulatory framework over there. XRP has still gone up 150% in the mean time. On 4/18/2021 at 4:47 PM, Joe Aston said: What do you mean? Because it was so cheap in 2019 I'm guessing you have a lot of it. If you're planning to hold ADA long term you may as well delegate your holdings to a stake pool. https://cardano.org/calculator/?calculator=operator to work out how much you can earn. Compounding interest at higher APY than a bank is nothing to turn your nose up at. You still have 100% access to your assets and can withdraw at any time. You basically mine new coins by holding/delegating. 2 hours ago, marg26 said: I think its the "proof of work" thing about Bitcoin and Ethereum that's the problem with their longevity? Ie it's computationally intensive on hardware, so slower, so the miners have to charge more (gas) for the transactions whereas newer crypto such as Cardano ADA use "proof of stake" which is faster, less resource intensive so cheaper. The UK government is looking into plans to create it's own crpto. Proof of work is a massive waste of energy and resources. It will eventually come to an end and no longer be seen as a viable solution to what ever use case its trying to serve. I'll be glad when that day comes because I will finally be able to turn my PC off and stop looking at GPU's on facebook market place every time I go to take a poo. 1 Quote Link to comment Share on other sites More sharing options...
monkeyseemonkeydo Posted April 20, 2021 Report Share Posted April 20, 2021 Surely the way the world is at the moment the future can't rely on any currency that requires immense amount of energy and associated pollution production to 'make'? It's utterly ludicrous to think how much energy is being wasted on crypto mining at the moment. Is that where the 'proof of stake' comes in? 1 Quote Link to comment Share on other sites More sharing options...
marg26 Posted April 20, 2021 Report Share Posted April 20, 2021 Yes and all that energy means larger transaction fees as I learnt last night. I've been using Coinbase, playing around with small amounts of crypto, watching the numbers, doing a few conversions when one was up and the other down (until they all went down). Then last night I setup a crypto wallet on my desktop using Exodus. First thing I decided to transfer was the Cardano - a proof of stake currency, the transaction fee for the transfer was around 16p. Next went to transfer the district0x until I saw the transfer fee was around £8-9 almost a quarter of the amount I was playing with. Left it where it is. 1 Quote Link to comment Share on other sites More sharing options...
Davetrials Posted April 23, 2021 Author Report Share Posted April 23, 2021 Ooof, doge has taken a beating this last few days Quote Link to comment Share on other sites More sharing options...
MadManMike Posted April 23, 2021 Report Share Posted April 23, 2021 They all have! All five coins I'm holding have dipped a fair bit. Still in profit quite nicely, but certainly not where it was a few days ago. Quote Link to comment Share on other sites More sharing options...
JT! Posted April 23, 2021 Report Share Posted April 23, 2021 I'm pretty pissed about Siacoin and Garlic coin. Both of which I've been very well aware of for a long time now, both of which have have just massively spiked in the last few days. Hindsight is 20 20 but I'm down about it. Thought about buying a load of siacoin back in the day because I thought it had potential, but ended up just mining it instead. But my coinbase account that started at $250 is now at $1100 so that's nice. Quote Link to comment Share on other sites More sharing options...
MadManMike Posted April 23, 2021 Report Share Posted April 23, 2021 1 hour ago, JT! said: I'm pretty pissed about Siacoin and Garlic coin. Both of which I've been very well aware of for a long time now, both of which have have just massively spiked in the last few days. Hindsight is 20 20 but I'm down about it. Thought about buying a load of siacoin back in the day because I thought it had potential, but ended up just mining it instead. But my coinbase account that started at $250 is now at $1100 so that's nice. How much are they up though? A spike doesn't mean it's game over... could go either way still. I've had some go up and then dip slightly, then go even higher... Most coins I see as a long game, rather than buy in and sell when they spike. Quote Link to comment Share on other sites More sharing options...
JT! Posted April 23, 2021 Report Share Posted April 23, 2021 3 minutes ago, MadManMike said: How much are they up though? Garlic coin up 27,000% since a year ago. Siacoin is up 2,200%. Quote Link to comment Share on other sites More sharing options...
marg26 Posted April 24, 2021 Report Share Posted April 24, 2021 I guess I've made all the same newbie mistakes as all newbies do with it, namely, buying during a spike, expecting it maintain rather than dipping way down below what I paid. I haven't put much cash into it so not a big deal, but hoping to make it back at some point when things rise again as it looks like they do. All the biggest dips are like 3am when I'm in bed so slightly irritating to be unable to take advantage for purchasing. Quote Link to comment Share on other sites More sharing options...
PLIW Posted January 4, 2022 Report Share Posted January 4, 2022 Bought into cyrpto back around 2011, BTC to start with. Then started mining it, carried on doing both even today. Quote Link to comment Share on other sites More sharing options...
monkeyseemonkeydo Posted January 4, 2022 Report Share Posted January 4, 2022 1 hour ago, PLIW said: Bought into cyrpto back around 2011, BTC to start with. Then started mining it, carried on doing both even today. So are you a millionaire? Quote Link to comment Share on other sites More sharing options...
PLIW Posted January 5, 2022 Report Share Posted January 5, 2022 20 hours ago, monkeyseemonkeydo said: So are you a millionaire? Only if I’d kept it all from the back then. I’ve played around with buying and selling it Quote Link to comment Share on other sites More sharing options...
Davetrials Posted January 7, 2022 Author Report Share Posted January 7, 2022 Well its all falling to shit at the moment, good time to hop on board if anybodys on the fence! Quote Link to comment Share on other sites More sharing options...
monkeyseemonkeydo Posted January 7, 2022 Report Share Posted January 7, 2022 3 hours ago, Davetrials said: Well its all falling to shit at the moment, good time to hop on board if anybodys on the fence! I saw this on Paypal earlier but what's driving the dip? Normal markets seem to be following the same trend but I don't really get why... Quote Link to comment Share on other sites More sharing options...
PLIW Posted January 7, 2022 Report Share Posted January 7, 2022 30 minutes ago, monkeyseemonkeydo said: I saw this on Paypal earlier but what's driving the dip? Normal markets seem to be following the same trend but I don't really get why... Federal Reserve is in talks about interest rates. How true that is who knows but BTC tends to sort of follow the trade markets and then other cryptos follow BTC. Bitcoin prices fall to lowest in months after US Fed remarks https://www.bbc.co.uk/news/technology-59907864 1 Quote Link to comment Share on other sites More sharing options...
Luke Rainbird Posted January 7, 2022 Report Share Posted January 7, 2022 Usually they're negatively correlated, and one can be used as a hedge against the other. Until that resets it's unlikely to pick up for a little while. I'd recently started to dabble again - if it was good enough to buy last year, it's definitely good enough to buy at a discount now! Quote Link to comment Share on other sites More sharing options...
PLIW Posted January 7, 2022 Report Share Posted January 7, 2022 37 minutes ago, Luke Rainbird said: Usually they're negatively correlated, and one can be used as a hedge against the other. Until that resets it's unlikely to pick up for a little while. I'd recently started to dabble again - if it was good enough to buy last year, it's definitely good enough to buy at a discount now! I expected bigger drops over the weekend. Monday morning could be a good time to go back in. 2 Quote Link to comment Share on other sites More sharing options...
PLIW Posted January 14, 2022 Report Share Posted January 14, 2022 Dodge has jumped 14% as Tesla now accepting it. So if you haven’t and fancy it sink what you can afford to lose as it might be very rewarding Quote Link to comment Share on other sites More sharing options...
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