Using Coinbase to pay for goods is the same as any other currency conversion service. If you are concerned about the provider, just use it for the transaction and leave no money in the account.
Only downside being that BTC has risen so much in the last week you will be paying 30% more.
Genuine question to anyone looking to.get in at $35k, why didn't you do so at $16k during the crash ?
I bought in at the last crash and invested quite heavily @ about $17.2k/BTC.
Nice surprise over the past week or so. Should only go one way now as we approach the halving that was mentioned earlier.
The question is....at what point do you transfer it to a stablecoin to mitigate any fall after the halving?
I use Coinbase (with a linked Visa card) and also have a few Ledger accounts (Nano S Plus & linked Mastercards). Transfer to USDt for stability when moving from the cold wallets to the cards for spending.
As was said to me a long time ago on here, 'Only put in what you can afford to lose.'
Nothing can be more sure. Having jumped in to my very first purchase of crypto (Bitcoin) when it was about it's highest ever £42,000 (Feb 2021), I watched it go lower, and lower and lower still. So I bought in again at £35k, £29k, £22k, £17k and £14k. Now whilst those figures may look like money in the bank when it now sits at around £28k, I am still a few grand in the red.
As for other so called alts, they have been a shit show for me with one or two that initially performed well, hence my drip feeding up to around £500 each, where they now sit at a solid £125 & £26. Of the half a dozen others they are into the 95%+ loss territory.
I have pretty much held every coin I've bought, almost as an experiment. I took the view, again as was advised (my own choice to follow) to buy and see where it sits in 5 years.
Like all investments that can fluctuate crypto is one to avoid if you NEED to get at least your original outlay back.
Thanks as ever to the ITK peeps that continue to post on here.
I'm pretty new to all this. Anyone know much about coinbase? Is it safe etc
I just so happened to open an account with them last night. I haven't a clue what its all about but I did it because my internet supplier of stuff that isn't available likes to be paid in crypto. It does actually me make curious though just to buy some and see what happens. I'm will to risk a tenner When you sign up you do get messages that tell you to buy what you can afford to lose because you run the risk of losing everything.
I think we may well have the same provider @charltonkeston ;-) Hence my question on the subject. I'll be honest, I'm a little bit wary of it and not sure I'll be moving forward tbh.
Genuine question to anyone looking to.get in at $35k, why didn't you do so at $16k during the crash ?
The trend is your friend, could have easily bought at $55k after it had been above $65k
Il be honest, I know absolutely nothing about BTC but I'd have thought you invest at the 'bottom' and not after a 30% increase within a month. BUT as I say... I do know nothing, no idea what halving means or what that means to valuation.
Genuine question to anyone looking to.get in at $35k, why didn't you do so at $16k during the crash ?
The trend is your friend, could have easily bought at $55k after it had been above $65k
Il be honest, I know absolutely nothing about BTC but I'd have thought you invest at the 'bottom' and not after a 30% increase within a month. BUT as I say... I do know nothing, no idea what halving means or what that means to valuation.
Same as me , clueless where BTC is concerned but trading wise it's better to buy on an uptrending market than a down one, 'he who tries to pick bottom usually ends up with a smelly finger'
Footballer Cristiano Ronaldo is facing a class action lawsuit in the US over his promotion of Binance, the largest cryptocurrency exchange in the world.
The plaintiffs claim his endorsement led them to make loss-making investments.
They are seeking damages of "a sum exceeding" $1bn (£790m).
Footballer Cristiano Ronaldo is facing a class action lawsuit in the US over his promotion of Binance, the largest cryptocurrency exchange in the world.
The plaintiffs claim his endorsement led them to make loss-making investments.
They are seeking damages of "a sum exceeding" $1bn (£790m).
I bought David Beckham underpants, after he posed in them, but I'm not likely to sue him because they didn't make me look sexier and therefore luckier with the ladies. A mate said they look good, when I was on a lads holiday, but I'm not going to mark that as a win.
Investors rarely complain with big gains.
Incidentally I lumped on BTC at £42,000, first crypto rush and haven't hardly seen it get back there for years.
Footballer Cristiano Ronaldo is facing a class action lawsuit in the US over his promotion of Binance, the largest cryptocurrency exchange in the world.
The plaintiffs claim his endorsement led them to make loss-making investments.
They are seeking damages of "a sum exceeding" $1bn (£790m).
I bought David Beckham underpants, after he posed in them, but I'm not likely to sue him because they didn't make me look sexier and therefore luckier with the ladies. A mate said they look good, when I was on a lads holiday, but I'm not going to mark that as a win.
Investors rarely complain with big gains.
Incidentally I lumped on BTC at £42,000, first crypto rush and haven't seen it get back there for years.
I'm pretty new to all this. Anyone know much about coinbase? Is it safe etc
I just so happened to open an account with them last night. I haven't a clue what its all about but I did it because my internet supplier of stuff that isn't available likes to be paid in crypto. It does actually me make curious though just to buy some and see what happens. I'm will to risk a tenner When you sign up you do get messages that tell you to buy what you can afford to lose because you run the risk of losing everything.
I think we may well have the same provider @charltonkeston ;-) Hence my question on the subject. I'll be honest, I'm a little bit wary of it and not sure I'll be moving forward tbh.
It might be interesting for you to take a peek at the early days of this thread (2017). I’m not suggesting that you’ll see the light by doing that. You’ll encounter people who are utterly convinced they have seen the light, and others who try to enquire what this light looks like, and more importantly what the source of the light is. I was in the second group and still am. I think it’s like any other investment, if you don’t understand what it is and what influences its price, don’t touch it. I give @kentaddick a lot of credit for being the only one in those days to really try to explain crypto to the sceptics.
There will be people on the thread who have made money, but often still struggle to explain why their token did well when others didn’t. How do they do it? I guess that if you study a given financial market indicator for long enough and consistently, you develop an instinctive feel for patterns and trends, without necessarily needing to know what the thing is whose price the graph is plotting. I suppose that might explain a lot of success in sport gambling too. But that’s the thing, crypto is a gamble because no-one seems to know anything solid about the token they’ve bought. Bitcoin is slightly different because its fans assert that it’s a currency, but that view is routinely challenged. A currency needs to have a stable value. For that reason alone, i’d find it a bit weird if a business insisted on payment in bitcoin.
Put it like this. If you buy some Ripple, what have you bought, exactly? Not an ice cream, apparently. Who launched Ripple? Who benefits from doing so and how? Now take my favourite equity share, Novo Nordisk. I’’ll admit straight away I got lucky here, but I bought them having had them as a client for my recruitment business. At the time I knew nothing more than that they were a Danish pharma biz. I went down to their modest office and learnt that they specialised in combatting diabetes. Then I saw the poster “Did you know one in ten Czechs will suffer from diabetes?”. That made me think a bit, but I only bought their shares when I saw their name on a list of solid dividend-paying companies. So I expected snd stsrted to get modest share price growth and 3% dividends on top. Cue much “meh” from the crypto boys. Then after about 9 months they told the world about the Wegovy obesity trial, and, bang! Edging towards 100% profit last time I checked. Luck, in the sense that I never learnt at the time that they were trialling this - but I did already know what they do generally, what sort of company they are culturally, and anyone can find out the name of the CEO. Can’t do that with Ripple or Turdcoin, can yer, punk? Feeling lucky?
I honestly cannot believe people are still investing in this stuff. It seemed obvious years ago that the con merchants would flood the space and that has been shown to be true, I never give anyone financial advice but with crypto I ignore my rule 😂 don’t touch it as sure are eggs are eggs one day the world will wake up and discover an awful lot of people have lost a lot of money to these scam monkeys
I honestly cannot believe people are still investing in this stuff. It seemed obvious years ago that the con merchants would flood the space and that has been shown to be true, I never give anyone financial advice but with crypto I ignore my rule 😂 don’t touch it as sure are eggs are eggs one day the world will wake up and discover an awful lot of people have lost a lot of money to these scam monkeys
The problem is that a few very noisy idiots will make money along the way, but not many as most will be holding the bomb when it explodes, much like GameStop etc).
The idiots I know (albeit not bad people) I have coming to me asking my view on crypto say it all. They don't ask me for advice on personal savings or any other area of finances where they could improve etc, they ask whether I would recommend crypto or NFTs...
Just stay well away from all of it. There is no intrinsic value in any of it and the only reason it goes up or down is speculation, not underlying earnings or economic data etc.
It's not even the emperor's new clothes, it's the paupers new clothes and I think it's a sad indictment of the times we are in that so many naive and idiotic people are losing their money so easily, presumably because in a lot (not all) of cases its seen as a lottery ticket to be able to do something like get a house. The problem is that for some it will, but for many, many more, it won't.
Footballer Cristiano Ronaldo is facing a class action lawsuit in the US over his promotion of Binance, the largest cryptocurrency exchange in the world.
The plaintiffs claim his endorsement led them to make loss-making investments.
They are seeking damages of "a sum exceeding" $1bn (£790m).
I bought David Beckham underpants, after he posed in them, but I'm not likely to sue him because they didn't make me look sexier and therefore luckier with the ladies. A mate said they look good, when I was on a lads holiday, but I'm not going to mark that as a win.
Investors rarely complain with big gains.
Incidentally I lumped on BTC at £42,000, first crypto rush and haven't hardly seen it get back there for years.
Has anyone (on here) actually managed to make a profit on Crypto i.e. cashed out and banked the money? It feels so volatile that timing the market to actually claim a real (and not paper) profit feels very speculative. I further wonder if those that perhaps did cash out then went back in and are still 'up' overall.
Has anyone (on here) actually managed to make a profit on Crypto i.e. cashed out and banked the money? It feels so volatile that timing the market to actually claim a real (and not paper) profit feels very speculative. I further wonder if those that perhaps did cash out then went back in and are still 'up' overall.
I suspect it's a lot like gambling in that people only tend to tell you about the occasional big wins and will still maintain they're "about even" overall.
Has anyone (on here) actually managed to make a profit on Crypto i.e. cashed out and banked the money? It feels so volatile that timing the market to actually claim a real (and not paper) profit feels very speculative. I further wonder if those that perhaps did cash out then went back in and are still 'up' overall.
Let's take bitcoin as an example. As things stand, there is a maximum number of 21mn coins. And that's it. Apparently, 0.01% of coin holders own nearly 60% of the total. To put it another way, a mere 4,600 odd wallets hold around 50% of all bitcoin. That heavy bias leaves the market open to the possibility of massive market manipulation. It indicates that the estimated 46mn Americans that hold bitcoin hold tiny amounts. (And tiny amounts are not going to generate a gigantic profit anyway. It rather indicates that their holdings are merely for show so that they can appear savvy and sophisticated to their peers. Kind of a fur coat but no knickers effect.)
On top of that, it is estimated that somewhere around 10% of bitcoin are lost or burned. (Apparently some UK guy lost 8,000 bitcoin in a hardware device in 2013.) Then there's the situation concerning Nakamoto the inventor of bitcoin (possibly). No one knows who he is or even if he exists but it is rumoured that he has 1mn bitcoin in 22,000 wallets. No one has heard anything of him for years.
Anyway what about Joe Public and to answer your question. It is quite possible that some here have made a profit. But I suspect that around 9 out of 10 will have made a loss. (That's what happens to regular people that dabble in futures or options anyway.) As you highlight, that is likely to be because of the difference between paper profit and realised profit. Most people - me included - do not have the discipline to either cash out to crystallise a profit or alternatively to minimise a loss. We tend to just stay there and hope for the best and the best rarely happens.
Has anyone (on here) actually managed to make a profit on Crypto i.e. cashed out and banked the money? It feels so volatile that timing the market to actually claim a real (and not paper) profit feels very speculative. I further wonder if those that perhaps did cash out then went back in and are still 'up' overall.
Aye. During the last run I took my original investment out and some. Paid my taxes on it like a good little boy too.
The remaining I used to invest in some utterly ridiculous NFT ponzi which was earning me about 350 USD daily from watching YouTube for about an hour. Cashed out of that around July and now have it spread across the likes of BTC, Sol, etc waiting for the next run!
I don't do any sort of trading. Pick my coins and just sell when I think is right. Could have made more with better timing but ho hum, just a bit of fun.
The people who never make money are those that pay any attention to Twitter and believe folk who say BTC is going to 1mln or XRP will hit $30 during the next bull, etc.
Comments
Nice surprise over the past week or so. Should only go one way now as we approach the halving that was mentioned earlier.
The question is....at what point do you transfer it to a stablecoin to mitigate any fall after the halving?
I use Coinbase (with a linked Visa card) and also have a few Ledger accounts (Nano S Plus & linked Mastercards). Transfer to USDt for stability when moving from the cold wallets to the cards for spending.
Nothing can be more sure. Having jumped in to my very first purchase of crypto (Bitcoin) when it was about it's highest ever £42,000 (Feb 2021), I watched it go lower, and lower and lower still. So I bought in again at £35k, £29k, £22k, £17k and £14k. Now whilst those figures may look like money in the bank when it now sits at around £28k, I am still a few grand in the red.
As for other so called alts, they have been a shit show for me with one or two that initially performed well, hence my drip feeding up to around £500 each, where they now sit at a solid £125 & £26. Of the half a dozen others they are into the 95%+ loss territory.
I have pretty much held every coin I've bought, almost as an experiment. I took the view, again as was advised (my own choice to follow) to buy and see where it sits in 5 years.
Like all investments that can fluctuate crypto is one to avoid if you NEED to get at least your original outlay back.
Thanks as ever to the ITK peeps that continue to post on here.
'he who tries to pick bottom usually ends up with a smelly finger'
Who knew.
Perhaps there should be a go fund me collection to help, where people donate sums to raise several million.
Here is the sum I am prepared to donate free of charge.
71x13=923
Footballer Cristiano Ronaldo is facing a class action lawsuit in the US over his promotion of Binance, the largest cryptocurrency exchange in the world.
The plaintiffs claim his endorsement led them to make loss-making investments.
They are seeking damages of "a sum exceeding" $1bn (£790m).
https://www.bbc.co.uk/news/technology-67566602
Investors rarely complain with big gains.
Incidentally I lumped on BTC at £42,000, first crypto rush and haven't hardly seen it get back there for years.
"I took a gamble and lost my money, it must be someone else's fault!' is such an American way of looking at things
EDIT: Although, reading your message again, I think you've kind of alluded to that. It's got mixed reviews but seems genuine.
Just message me your name, address, DOB & bank details.
The idiots I know (albeit not bad people) I have coming to me asking my view on crypto say it all. They don't ask me for advice on personal savings or any other area of finances where they could improve etc, they ask whether I would recommend crypto or NFTs...
Just stay well away from all of it. There is no intrinsic value in any of it and the only reason it goes up or down is speculation, not underlying earnings or economic data etc.
It's not even the emperor's new clothes, it's the paupers new clothes and I think it's a sad indictment of the times we are in that so many naive and idiotic people are losing their money so easily, presumably because in a lot (not all) of cases its seen as a lottery ticket to be able to do something like get a house. The problem is that for some it will, but for many, many more, it won't.
On top of that, it is estimated that somewhere around 10% of bitcoin are lost or burned. (Apparently some UK guy lost 8,000 bitcoin in a hardware device in 2013.) Then there's the situation concerning Nakamoto the inventor of bitcoin (possibly). No one knows who he is or even if he exists but it is rumoured that he has 1mn bitcoin in 22,000 wallets. No one has heard anything of him for years.
Anyway what about Joe Public and to answer your question. It is quite possible that some here have made a profit. But I suspect that around 9 out of 10 will have made a loss. (That's what happens to regular people that dabble in futures or options anyway.) As you highlight, that is likely to be because of the difference between paper profit and realised profit. Most people - me included - do not have the discipline to either cash out to crystallise a profit or alternatively to minimise a loss. We tend to just stay there and hope for the best and the best rarely happens.
The remaining I used to invest in some utterly ridiculous NFT ponzi which was earning me about 350 USD daily from watching YouTube for about an hour. Cashed out of that around July and now have it spread across the likes of BTC, Sol, etc waiting for the next run!
I don't do any sort of trading. Pick my coins and just sell when I think is right. Could have made more with better timing but ho hum, just a bit of fun.
The people who never make money are those that pay any attention to Twitter and believe folk who say BTC is going to 1mln or XRP will hit $30 during the next bull, etc.