Just took a gander at my Coinbase balance, for the first time in months. £2,350 left from a staggered £7,500 investment, beginning in February 2021 is not too healthy, But, I have the age old conundrum. Do I cut and run, or continue to wait until the gas stored in the pile of shit, is finally released and my bubble begins to rise.
As others, (in my view knowledgeable folk) have always said, "only invest what you can afford to lose." Well I did and that's where things sit. If I lose all £7,500, in a lifetime its not life changing, that said, neither is gaining that amount, which begs the question, why did I invest in the first place?
Like many other investors I am / was hoping to get more than I put in. With Crypto, I now wonder if the resurgence to previous levels will come.
A colleague had £100k+ in Crypto mainly Bitcoin a year ago and is slightly closer to retirement that me, sadly his plans may require an adjustment.
"He who dares, Rodney" is a line that makes me smile and raise an eyebrow at the same time.
I would hold it now. Things will go back up again at some point.
What do you hold it in out of interest? ie is it mostly btc, or a combo.
I've got about £2,000 in BTC and the rest over half a dozen different things. I mean Internet Computer was a disaster. That £500 is worth £30 or something daft.
Do most peeps think that Coinbase is safe? As safe can be!
As for the money, nope I don't need it and so can write it off for 5-10 years.
Is anyone here still buying??
I am just buying a little amount a month currently, $100 and see how we go for the next 6 months or so. I am looking at it as a bit of a bet at the moment, rather than investment.
Crypto currencies are not regulated & therefore provide you with no protection.
Isnt it funny that people will routinely muse about making sure they dont have more than £85k in Barclays or HSBC due to the FSCS protection limit but will blindly invest their savings into crypto.
If a bank popped up offering 10% interest but had no FSCS protection I bet no one on here would put money in it.
If does make me laugh how little respect there is for regulation in the world of crypto - I wonder why that is?
Big libertarian crowd in crypto. Same types who would bury gold in their back garden buy and hold bitcoin.
Not against good regulation btw, but it’s so fast moving it’s difficult to legislate.
The US Securities and Exchange Commission (SEC) has charged Sam Bankman-Fried with "orchestrating a scheme to defraud investors" in the failed cryptocurrency exchange FTX.
Crypto currencies are not regulated & therefore provide you with no protection.
Isnt it funny that people will routinely muse about making sure they dont have more than £85k in Barclays or HSBC due to the FSCS protection limit but will blindly invest their savings into crypto.
If a bank popped up offering 10% interest but had no FSCS protection I bet no one on here would put money in it.
If does make me laugh how little respect there is for regulation in the world of crypto - I wonder why that is?
Big libertarian crowd in crypto. Same types who would bury gold in their back garden buy and hold bitcoin.
Not against good regulation btw, but it’s so fast moving it’s difficult to legislate.
It's always the same types who think they're above the need for regulation.
in other news, might be worth loading up on some bitcoin. Bullish divergence on the weekly, sellers running out of steam… could this be the bottom?
FFS KA. Its gambling talk like that that had me pumping for a year in the hope that the bottom had come, again and again and yet again.
That said my £7k drip fed investment sits at around £1500+ right now so I'm pretty much hoping for some uplift. I just can't get enthused enough to buy in again. Don't get me wrong I'm hodling for 3-5 years to wherever that gets me. If I'm down, it's money that has already been long gone.
In all seriousness, if you had a spare £1000 to invest TODAY, would you go, 1)Low risk bank savings at 2%, 2)Gold at whatever it sits at, or 3)Lump on crazy crypto in the hope that the bull run begins again.
By the way I have respect for your views and in no way hold anyone responsible for my life choices. Well maybe dad, for Mansfield away one Saturday afternoon in the late 70's.
in other news, might be worth loading up on some bitcoin. Bullish divergence on the weekly, sellers running out of steam… could this be the bottom?
FFS KA. Its gambling talk like that that had me pumping for a year in the hope that the bottom had come, again and again and yet again.
That said my £7k drip fed investment sits at around £1500+ right now so I'm pretty much hoping for some uplift. I just can't get enthused enough to buy in again. Don't get me wrong I'm hodling for 3-5 years to wherever that gets me. If I'm down, it's money that has already been long gone.
In all seriousness, if you had a spare £1000 to invest TODAY, would you go, 1)Low risk bank savings at 2%, 2)Gold at whatever it sits at, or 3)Lump on crazy crypto in the hope that the bull run begins again.
By the way I have respect for your views and in no way hold anyone responsible for my life choices. Well maybe dad, for Mansfield away one Saturday afternoon in the late 70's.
What a horrendous weekly candle. Me thinks we’ll slow bleed to April next year to 12k, if we’re lucky it’ll be faster. After then, up only.
Blimey, mate, I just opened this thread to sample the tone, and have no idea what a candle is (although I suspect its a silly name for a trend graph) but it looks to me like three days earlier you fancied you could buy the bottom. Checked in with my crypto- fan nephew couple of days ago. He was more cautious than I’ve heard him since he first drank the Kool-Aid (which is not how I see you, btw, as I hope you know by now).
I still wouldn’t touch any of it with a bargepole, but that’s partly my age, when I should be de-risking. Regulation is a must before ordinary punters should trust it, but how it comes about I dont see. As you say, it moves so quickly, but any regulation needs to be globally harmonised too, and that’s just as difficult.
I think the interrogation of SBF is bound to scare off a lot of mug punters, and it’ll be interesting to see what’s left after that. The better financial journos will also seek to go after the likes of JP Morgan and Goldman who have piled in, to ask them what exactly they think they are playing at…
What a horrendous weekly candle. Me thinks we’ll slow bleed to April next year to 12k, if we’re lucky it’ll be faster. After then, up only.
Blimey, mate, I just opened this thread to sample the tone, and have no idea what a candle is (although I suspect its a silly name for a trend graph) but it looks to me like three days earlier you fancied you could buy the bottom. Checked in with my crypto- fan nephew couple of days ago. He was more cautious than I’ve heard him since he first drank the Kool-Aid (which is not how I see you, btw, as I hope you know by now).
I still wouldn’t touch any of it with a bargepole, but that’s partly my age, when I should be de-risking. Regulation is a must before ordinary punters should trust it, but how it comes about I dont see. As you say, it moves so quickly, but any regulation needs to be globally harmonised too, and that’s just as difficult.
I think the interrogation of SBF is bound to scare off a lot of mug punters, and it’ll be interesting to see what’s left after that. The better financial journos will also seek to go after the likes of JP Morgan and Goldman who have piled in, to ask them what exactly they think they are playing at…
Bottom is close, I would say if you start buying bitcoin now you won’t sweat anything in the market in 3-4 years.
what else could happen to make prices go lower? A major token went under, billions lost, a major exchange went under, billions lost again. I reckon market will go boring sideways/downwards til April next year. Then the market will resume upwards.
I think plenty can happen to make prices go lower … more crypto related firms crashing, impact of major regulatory developments, general loss of confidence, to name a few. If you think market sideways/downwards til April next year, surely this is not a good time to start buying bitcoin.
I think plenty can happen to make prices go lower … more crypto related firms crashing, impact of major regulatory developments, general loss of confidence, to name a few. If you think market sideways/downwards til April next year, surely this is not a good time to start buying bitcoin.
Like who? Honestly? Terra has gone, Ftx has gone, genesis (biggest otc desk) is going, blockfi gone. Only one that could have a big impact in the market is Binance, and even then there’s been FUD about Binance since forever. They survived a bank run last week and paid out £2 billion in a day.
Regulation will crash the market? I suppose that’s why the traditional stock market has gone to zero?
Would you rather start buying bitcoin £100 a month now, or start buying £100/month in April?
I just don’t think there’s anyone left to sell in any great quantities.
Actually Binance is a concern for me. The lack of proper audit and uncertainty over where they are headquartered was always an issue, now exacerbated by talk of looming US criminal charges over money laundering and sanction breaking. Also, CZ decries FUD when anybody questions Binance , but is quite happy to deploy FUD against his competitors, which I find disturbing for someone in his position. I hope that the question of Binance’s future will clarify in the next few months, so personally I would prefer to wait and watch rather than invest now. Perhaps I misunderstand your point about regulation, but I think that regulated industries survive because companies within them can manage the terms of regulation, and that brings security and confidence for the investor (tho admittedly sometimes misplaced) … but if players in an industry cannot operate within the imposed regulation at all, then yes, I agree it will go to zero.
Actually Binance is a concern for me. The lack of proper audit and uncertainty over where they are headquartered was always an issue, now exacerbated by talk of looming US criminal charges over money laundering and sanction breaking. Also, CZ decries FUD when anybody questions Binance , but is quite happy to deploy FUD against his competitors, which I find disturbing for someone in his position. I hope that the question of Binance’s future will clarify in the next few months, so personally I would prefer to wait and watch rather than invest now. Perhaps I misunderstand your point about regulation, but I think that regulated industries survive because companies within them can manage the terms of regulation, and that brings security and confidence for the investor (tho admittedly sometimes misplaced) … but if players in an industry cannot operate within the imposed regulation at all, then yes, I agree it will go to zero.
Yeah I don’t like CZ at all. Although from what I’ve seen what happened at FTX was inevitable (due to them basically committing fraud from day one), CZ was most definitely the catalyst by refusing to sell FTT otc and dumped it all on the market.
Personally a lot more bullish now than I was around the Luna collapse.
BTC and ETH fundamentals haven’t changed, people are very much still building, but price is down around 80% from all time highs. Start accumulating now imo.
BTC and ETH fundamentals haven’t changed, people are very much still building, but price is down around 80% from all time highs. Start accumulating now imo.
Absolutely. I've spent thousands on BTC and never managed to buy any at current prices. Now don't have the disposable income sadly.
What’s going on with zil @cafcpolo@CAFCsayer? Probably a good spot for a bounce, looked like capitulation a few weeks ago.
Usual ZIL, lack of anything! Another change of CEO recently as well. Fortunately I sold a good chunk on it's way down. More interested in XCAD these days.
What’s going on with zil @cafcpolo@CAFCsayer? Probably a good spot for a bounce, looked like capitulation a few weeks ago.
Usual ZIL, lack of anything! Another change of CEO recently as well. Fortunately I sold a good chunk on it's way down. More interested in XCAD these days.
Comments
Sam Bankman-Fried, founder of the collapsed cryptocurrency exchange FTX, has been arrested in The Bahamas, the country's attorney general has said.
He is scheduled to appear on Tuesday in a magistrates' court in the Caribbean country's capital, Nassau.
Police said Mr Bankman-Fried, 30, was arrested for "financial offences" against laws in the US and The Bahamas.
https://www.bbc.co.uk/news/business-63953096
The US Securities and Exchange Commission (SEC) has charged Sam Bankman-Fried with "orchestrating a scheme to defraud investors" in the failed cryptocurrency exchange FTX.
https://www.bbc.co.uk/news/technology-63957020
Lounging around in the Bahamas at the moment it seems.
in other news, might be worth loading up on some bitcoin. Bullish divergence on the weekly, sellers running out of steam… could this be the bottom?
That said my £7k drip fed investment sits at around £1500+ right now so I'm pretty much hoping for some uplift. I just can't get enthused enough to buy in again. Don't get me wrong I'm hodling for 3-5 years to wherever that gets me. If I'm down, it's money that has already been long gone.
In all seriousness, if you had a spare £1000 to invest TODAY, would you go,
1)Low risk bank savings at 2%,
2)Gold at whatever it sits at, or
3)Lump on crazy crypto in the hope that the bull run begins again.
By the way I have respect for your views and in no way hold anyone responsible for my life choices. Well maybe dad, for Mansfield away one Saturday afternoon in the late 70's.
(Hopefully I don't need to clarify that this isn't intended as a comment about any participant in this thread?)
I think the interrogation of SBF is bound to scare off a lot of mug punters, and it’ll be interesting to see what’s left after that. The better financial journos will also seek to go after the likes of JP Morgan and Goldman who have piled in, to ask them what exactly they think they are playing at…
what else could happen to make prices go lower? A major token went under, billions lost, a major exchange went under, billions lost again. I reckon market will go boring sideways/downwards til April next year. Then the market will resume upwards.
Would you rather start buying bitcoin £100 a month now, or start buying £100/month in April?
Come on now Elon!