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Cryptos

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  • reserves
    reserves Posts: 795
    kentaddick said:
    reserves said:
    kentaddick said:
    reserves said:
    kentaddick said:
    closed my eth position and put in a bid at 1514.
    Excuse my ignorance, what does that mean? You closed your position which I assume means you sold your ETH, but the "bid in at 1514" I don't understand.
    put a limit order in at $1514. If/when the price dips to that my order gets filled. I then think it will go up again after that.

    Ahh, understood thank you, I assumed it was £1514 which confused me. Cheers

    most exchanges have prices in $, i also trade futures, which uses USDT - a stable coin "tethered" to the price of the dollar.
    Thank you, makes sense
  • BalladMan
    BalladMan Posts: 1,122
    Ethereum uptick again this PM. Going from $1550 to $1620 since 15:00
  • kentaddick
    kentaddick Posts: 18,729
    BalladMan said:
    Ethereum uptick again this PM. Going from $1550 to $1620 since 15:00
    no no no, sell to $1512
  • CAFCsayer
    CAFCsayer Posts: 10,237
    edited February 2021
    Alts looking good this morning....be interesting if ZIL can break 0.082


  • BalladMan
    BalladMan Posts: 1,122
     Cadarno (ADA) also storming overnight to 10% increase. 
  • CAFCsayer
    CAFCsayer Posts: 10,237
    BalladMan said:
     Cadarno (ADA) also storming overnight to 10% increase. 
    Cardano is on fire at the moment. I really don't get it
  • Rothko
    Rothko Posts: 18,814
    CAFCsayer said:
    BalladMan said:
     Cadarno (ADA) also storming overnight to 10% increase. 
    Cardano is on fire at the moment. I really don't get it
    Solid people behind it, 5.5% staking rewards, project with a clear use case and road map. Criminally underpriced when it was single digit priced, and I brought a shedload 
  • BalladMan
    BalladMan Posts: 1,122
    Rothko said:
    CAFCsayer said:
    BalladMan said:
     Cadarno (ADA) also storming overnight to 10% increase. 
    Cardano is on fire at the moment. I really don't get it
    Solid people behind it, 5.5% staking rewards, project with a clear use case and road map. Criminally underpriced when it was single digit priced, and I brought a shedload 
    Agreed.  I am very novice in Crypto and reading about various coins this week.  Looks like new developments are driving the price increase: https://cryptonews.com/news/cardano-upgrades-on-its-way-to-offer-better-tokenization-tha-9127.htm
  • kentaddick
    kentaddick Posts: 18,729
    edited February 2021
    Bitcoin will be getting a leg up very soon. Accumulation in price action and negative flows from exchanges - meaning that Bitcoin is getting transactioned out of exchanges, this creates a lot of buy pressure. 
  • BalladMan
    BalladMan Posts: 1,122
    kentaddick said:
    Bitcoin will be getting a leg up very soon. Accumulation in price action and negative flows from exchanges - meaning that Bitcoin is getting transactioned out of exchanges, this creates a lot of buy pressure. 
    Any ideas when or what price point based on your analysis? 


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  • kentaddick
    kentaddick Posts: 18,729
    BalladMan said:
    kentaddick said:
    Bitcoin will be getting a leg up very soon. Accumulation in price action and negative flows from exchanges - meaning that Bitcoin is getting transactioned out of exchanges, this creates a lot of buy pressure. 
    Any ideas when or what price point based on your analysis? 

    If I knew that I’d be rich. 
  • No.1 in South London
    No.1 in South London Posts: 3,964
    BalladMan said:
    Rothko said:
    CAFCsayer said:
    BalladMan said:
     Cadarno (ADA) also storming overnight to 10% increase. 
    Cardano is on fire at the moment. I really don't get it
    Solid people behind it, 5.5% staking rewards, project with a clear use case and road map. Criminally underpriced when it was single digit priced, and I brought a shedload 
    Agreed.  I am very novice in Crypto and reading about various coins this week.  Looks like new developments are driving the price increase: https://cryptonews.com/news/cardano-upgrades-on-its-way-to-offer-better-tokenization-tha-9127.htm


  • BalladMan
    BalladMan Posts: 1,122
    No.1 in South London said:
    BalladMan said:
    Rothko said:
    CAFCsayer said:
    BalladMan said:
     Cadarno (ADA) also storming overnight to 10% increase. 
    Cardano is on fire at the moment. I really don't get it
    Solid people behind it, 5.5% staking rewards, project with a clear use case and road map. Criminally underpriced when it was single digit priced, and I brought a shedload 
    Agreed.  I am very novice in Crypto and reading about various coins this week.  Looks like new developments are driving the price increase: https://cryptonews.com/news/cardano-upgrades-on-its-way-to-offer-better-tokenization-tha-9127.htm


    Obviously works for the company so bigging it up, but more details on Ouroboros Omega here  https://www.reddit.com/r/cardano/comments/lcjg8c/ouroboros_omega_teaser/ 
  • Rothko
    Rothko Posts: 18,814
    He's the CEO of IOHK which is developing Cardano
  • CAFCsayer
    CAFCsayer Posts: 10,237
    CAFCsayer said:
    Alts looking good this morning....be interesting if ZIL can break 0.082


    Buckle up... 0.083
  • kentaddick
    kentaddick Posts: 18,729
    edited February 2021
    CAFCsayer said:
    CAFCsayer said:
    Alts looking good this morning....be interesting if ZIL can break 0.082


    Buckle up... 0.083
    placed an order at 0.08222 for the retest
  • Glovepup
    Glovepup Posts: 1,746
    POLS has seen a nice spike today. 
  • cafcpolo
    cafcpolo Posts: 3,813
    Anyone seen the gas fees for ETH at the moment? Ridiculously high!
  • eaststandmike
    eaststandmike Posts: 14,956
    cafcpolo said:
    Anyone seen the gas fees for ETH at the moment? Ridiculously high!
    What does this mean?
  • kentaddick
    kentaddick Posts: 18,729
    cafcpolo said:
    Anyone seen the gas fees for ETH at the moment? Ridiculously high!
    a huge problem that will be addressed with ethereum 2. But i also think ultimately it is what will cause the crash later this year/next year and what caused the last crash in 2018.

    eaststandmike said:
    cafcpolo said:
    Anyone seen the gas fees for ETH at the moment? Ridiculously high!
    What does this mean?
    to make a transaction on the ethereum blockchain you have to pay gas fees (that goes to miners as an incentive to maintain the network), the busier the network, the higher the fees (as lower fees will not be picked up by miners). If, say, you want to buy a token from a decentralised exchange or even add your crypto to a liquidity pool, you have to pay gas fees. 

    Ethereum is more expensive now and there are a huge amount of tokens using the ethereum blockchain (the entire defi system is basically built on it), so gas fees are going way up.

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  • kentaddick
    kentaddick Posts: 18,729
    high gas fees also means centralised exchanges, for now, are definitely the best way to trade.
  • CAFCsayer
    CAFCsayer Posts: 10,237
    kentaddick said:
    cafcpolo said:
    Anyone seen the gas fees for ETH at the moment? Ridiculously high!
    a huge problem that will be addressed with ethereum 2. But i also think ultimately it is what will cause the crash later this year/next year and what caused the last crash in 2018.

    eaststandmike said:
    cafcpolo said:
    Anyone seen the gas fees for ETH at the moment? Ridiculously high!
    What does this mean?
    to make a transaction on the ethereum blockchain you have to pay gas fees (that goes to miners as an incentive to maintain the network), the busier the network, the higher the fees (as lower fees will not be picked up by miners). If, say, you want to buy a token from a decentralised exchange or even add your crypto to a liquidity pool, you have to pay gas fees. 

    Ethereum is more expensive now and there are a huge amount of tokens using the ethereum blockchain (the entire defi system is basically built on it), so gas fees are going way up.
    This is why i think Zilliqa is going to go through the roof. Once the ZIL-ETH bridge is in place (coming this quarter) etherium can be moved to the Zilliqa blockchain and the fees are literally a fraction of what they are on the ethereum network, with the ability to shard meaning they can handle far more transaction per second
  • The Prince-e-Paul
    The Prince-e-Paul Posts: 6,693
    edited February 2021
    Here's the thing. I look at cryptos and think wow. A friend bought into Bitcoin at £400, 2 shares and has made a lovely nestegg. 

    I am saving for a house and have around £100k in an Instant access account (1.09%) I switched to a lower interest rate as last year lost out on a house due to the money being tied in a 90 day account and couldn't complete in the timescale. 

    Back on topic. Are there any investors on here that would put a house deposit or part of, on a Crypto to make a fast buck. 
  • BalladMan
    BalladMan Posts: 1,122
    edited February 2021
    The Prince-e-Paul said:
    Here's the thing. I look at cryptos and think wow. A friend bought into Bitcoin at £400, 2 shares and has made a lovely nestegg. 

    I am saving for a house and have around £100k in an Instant access account (1.09%) I switched to a lower interest rate as last year lost out on a house due to the money being tied in a 90 day account and couldn't complete in the timescale. 

    Back on topic. Are there any investors on here that would put a house deposit or part of, on a Crypto to make a fast buck. 
    Persoanlly, no.  There are just too many swings up and down to trust a large amount of money on it at the moment and it takes A LOT of research to start to understand trends.  And then you get situations such as this week where Elon Must tweets about Dogecoin and it goes up 50%. Too volatile to risk a life changing amount of money on for me.  
  • cafcpolo
    cafcpolo Posts: 3,813
    The Prince-e-Paul said:
    Here's the thing. I look at cryptos and think wow. A friend bought into Bitcoin at £400, 2 shares and has made a lovely nestegg. 

    I am saving for a house and have around £100k in an Instant access account (1.09%) I switched to a lower interest rate as last year lost out on a house due to the money being tied in a 90 day account and couldn't complete in the timescale. 

    Back on topic. Are there any investors on here that would put a house deposit or part of, on a Crypto to make a fast buck. 
    Absolutely not. No guarantee of success and you don't want to jeopardise the savings for a house.
  • Glovepup
    Glovepup Posts: 1,746
    edited February 2021
    The Prince-e-Paul said:
    Here's the thing. I look at cryptos and think wow. A friend bought into Bitcoin at £400, 2 shares and has made a lovely nestegg. 

    I am saving for a house and have around £100k in an Instant access account (1.09%) I switched to a lower interest rate as last year lost out on a house due to the money being tied in a 90 day account and couldn't complete in the timescale. 

    Back on topic. Are there any investors on here that would put a house deposit or part of, on a Crypto to make a fast buck. 
    It’s a big risk, I started with a relatively small amount of money in Oct/Sept and bought some more alt coins in Jan. I will try to invest the money I am making rather than putting more money in.

    crypto is volatile, it will likely bounce back from any dip but personally would not risk using that money.

    you could take a small amount out, go for the safer crypto options and leave it for 12 months. When I say small I mean small, every little bit helps.

    Thing is when I started this I had more money, but if I lost it would have been pissed, well now I have made money and nearly 200% up. Of course it I had put more money in I would have made more money, but I didn’t know that would happen for sure. 

    Anyway, hope that helps. Sorry if it doesn’t. 
  • The Prince-e-Paul
    The Prince-e-Paul Posts: 6,693
    Balladman, cafcpolo, Glovepup, thanks all guys for your advice. It's the age old conundrum, investing. Clearly everyone wants to buy into a sure thing, and there's no such thing. With Cryptos it has appeared to be easy money for many, but I fear a bubble bursting. 

    I know I wouldn't risk losing enough money to jeopardize the house purchase, but investment growth is so minimal right now. Just heard today the interest rate in bank account Santander 123 is dropping from 0.6% to 0.3% in April. Of course it's instant access. These super low rates trigger interest in alternative options, but I guess the knowledge you have is invaluable to reduce risks. 
  • cabbles
    cabbles Posts: 15,258
    You have to ask yourself what amount (if any), you are willing to lose from your deposit?  At the moment I wouldn’t be buying btc as it’s up quite high and I don’t know how long that’s going to last.  If it comes down again then it might be worth investing a small amount.  But quite literally, something you can have no regrets about losing 
  • shine166
    shine166 Posts: 13,931
    The Prince-e-Paul said:
    Here's the thing. I look at cryptos and think wow. A friend bought into Bitcoin at £400, 2 shares and has made a lovely nestegg. 

    I am saving for a house and have around £100k in an Instant access account (1.09%) I switched to a lower interest rate as last year lost out on a house due to the money being tied in a 90 day account and couldn't complete in the timescale. 

    Back on topic. Are there any investors on here that would put a house deposit or part of, on a Crypto to make a fast buck. 
    Mines in Art, by the end of 2021 I hope to have a very modest mortgage free, first time home.
  • kentaddick
    kentaddick Posts: 18,729
    Crypto is very high risk/reward. There are ways of mitigating the risk (be diligent in risk management), but it’s up to you what your appetite is.

    Those that have made a fortune from crypto are usually those that have been in the space a long time (5years +). It’s much more of a longer term investment imo, even though you can make money quickly on the right trade, you can lose it just as easily. 

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