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Crypto / online trading?
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Made a lot on chain link when a certain chan pumped it.
Was all about timing.
Same as Bitcoin look how far that has come.
Avoid the snake oil salesman on social media that promise to teach you how to trade for a small fee. |
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If you’re thinking of investing the main rule is research, anything you’re going to put your hard earned money into, you need to be able to convince yourself it’s a good investment. Or it’s like putting money on a horse because you like the name.
It’s no use buying a share in a company at its highest price as it’ll either go sideways or down. So look at news outlets are they expanding too rapidly or not quick enough, CEO history of success, P/E ratio, shares history, is it an emerging market, government policy over that business, its endless the research you may have to do.
Even with thorough research you can still lose money in the meantime.
So my advice is look to long term investing, put money into businesses and see if the fundamentals are looking good for 5-10 years growth. Hopefully then you’ll get the profit all of us investors are looking for each time we buy a share.
Good luck Op
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Just reread that it’s crypto you’re interested in. Ignore my previous post that’s about shares.
Bitcoin has took a nosedive for the last few days, so if you believe it will increase in value it’s a good time to buy. But it’s so volatile that this time next week it could crash, who knows. I will be buying more crypto this week but not just BTC. |
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By (user no longer on site)
over a year ago
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I invested £100 in Bitcoin on 20th August 2013 when they dropped to $4.50 per coin.
I did it as it was meant to be the up and coming thing but it’s something you have to understand will go up and down but you need to keep you eye on it which turns into a habit after a while.
You only invest what it is that you can afford to loose just incase it crashes.
Just be careful, try investing in another currency that maybe up and coming, again do research first, I would offer a few companies but i don’t want the risk of you investing and potentially loosing money on my word.
Best of luck to you though, fingers crossed it works out for you. |
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By *EXY_PILOT OP Man
over a year ago
Manchester, North West, UK |
"Just reread that it’s crypto you’re interested in. Ignore my previous post that’s about shares.
Bitcoin has took a nosedive for the last few days, so if you believe it will increase in value it’s a good time to buy. But it’s so volatile that this time next week it could crash, who knows. I will be buying more crypto this week but not just BTC. "
Thanks for the advice, really appreciate it. I was thinking about the same to buy it now whilst it's low x |
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By *EXY_PILOT OP Man
over a year ago
Manchester, North West, UK |
"I invested £100 in Bitcoin on 20th August 2013 when they dropped to $4.50 per coin.
I did it as it was meant to be the up and coming thing but it’s something you have to understand will go up and down but you need to keep you eye on it which turns into a habit after a while.
You only invest what it is that you can afford to loose just incase it crashes.
Just be careful, try investing in another currency that maybe up and coming, again do research first, I would offer a few companies but i don’t want the risk of you investing and potentially loosing money on my word.
Best of luck to you though, fingers crossed it works out for you."
So did you buy 1 BTC when it was at 4.50...you must be a millionaire by now? X |
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By *rHotNottsMan
over a year ago
Dubai & Nottingham |
"There is now showing the ropes when it comes to crypto.
You invest and either lose or make money, just like with any other stocks."
Correct, With more volatility and more platform risk. There are no ropes to reading markets, you either do it well, badly or rely on luck. Some of my trades are in here I cashed out BTC on 13th April and and drip feeding again expecting to cash out again around Sept |
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Things to bear in mind or google with crypto :
1)You're not insured. If you forget your details, or if the exchange you use gets hacked (look up mount gox scandal), if your computer corrupts, you lose everything
2) Most crypto is environmentally catastrophic. Crypto miners use enormous amounts of energy.
3) like all markets, its a casino. I personally think international regulation is coming, which is bound to depress the price
4) Its not intrinsically valuable. Its not used for anything except speculation.
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By (user no longer on site)
over a year ago
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"There is now showing the ropes when it comes to crypto.
You invest and either lose or make money, just like with any other stocks."
there is however advice on platforms to use , how to spread risk, what are good data sources to use and to avoid when doing your research
people are so up their own asses sometimes when everyone has to start somewhere |
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By *rHotNottsMan
over a year ago
Dubai & Nottingham |
"There is now showing the ropes when it comes to crypto.
You invest and either lose or make money, just like with any other stocks.
there is however advice on platforms to use , how to spread risk, what are good data sources to use and to avoid when doing your research
people are so up their own asses sometimes when everyone has to start somewhere"
I you can’t critically analyse and discern good sources of info for investing you really shouldn’t be investing ,it’s wreckless gambling. There is no advice on what platforms to use, none of them are insured or regulated look what just happen to foot stock as an example |
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"Currently just have my pc mining bitcoin 24/7.
Its not really costing a lot as its on anyway. Think its upto around 1200 in the 9 odd months it's been going"
OK but you're emitting CO2 in doing so, for something with no intrinsic value. It's morally dubious IMHO. |
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By *rHotNottsMan
over a year ago
Dubai & Nottingham |
"Things to bear in mind or google with crypto :
1)You're not insured. If you forget your details, or if the exchange you use gets hacked (look up mount gox scandal), if your computer corrupts, you lose everything
2) Most crypto is environmentally catastrophic. Crypto miners use enormous amounts of energy.
3) like all markets, its a casino. I personally think international regulation is coming, which is bound to depress the price
4) Its not intrinsically valuable. Its not used for anything except speculation.
"
I agree fully
On point 4 though , there only 19m bitcoin. Some 3m are probably lost, scarcity drives value |
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"Currently just have my pc mining bitcoin 24/7.
Its not really costing a lot as its on anyway. Think its upto around 1200 in the 9 odd months it's been going
OK but you're emitting CO2 in doing so, for something with no intrinsic value. It's morally dubious IMHO. "
But it's running anyway.
Never got turned off |
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By *rHotNottsMan
over a year ago
Dubai & Nottingham |
"Currently just have my pc mining bitcoin 24/7.
Its not really costing a lot as its on anyway. Think its upto around 1200 in the 9 odd months it's been going
OK but you're emitting CO2 in doing so, for something with no intrinsic value. It's morally dubious IMHO.
But it's running anyway.
Never got turned off "
Mining makes your cpu fans spin more. You’re wasting your time anyway, high hash rates = it’s costs more in electric than you can make, you need to do it in China or Iceland where electric is free |
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"Currently just have my pc mining bitcoin 24/7.
Its not really costing a lot as its on anyway. Think its upto around 1200 in the 9 odd months it's been going
OK but you're emitting CO2 in doing so, for something with no intrinsic value. It's morally dubious IMHO.
But it's running anyway.
Never got turned off
Mining makes your cpu fans spin more. You’re wasting your time anyway, high hash rates = it’s costs more in electric than you can make, you need to do it in China or Iceland where electric is free"
I've not spent anywhere near 1200 in electric in the last 9 months. Probably around 700 for the whole house. If it earns enough to pay a bill or 2 then it's worth it |
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By *rHotNottsMan
over a year ago
Dubai & Nottingham |
"I've made a decent sum from crypto, but it's mainly by purchasing right time and hold. I'll cash in one day, but see know point with an appreciating asset."
Yes 20% depreciation in the last week is pretty phenomenal 
I’d be very very careful thinking of crypto as an asset class, you will get into big problems, it’s possibly a commodity but more likely just a decentralised virtual currency.
Remember you haven’t made anything until you cash out .... it’s just some numbers on a screen |
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By (user no longer on site)
over a year ago
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I’ve done alright but I’ve sold some and invested that into other things like property, bricks and mortar are the way forward for a long term investment. |
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"I've made a decent sum from crypto, but it's mainly by purchasing right time and hold. I'll cash in one day, but see know point with an appreciating asset."
Let's hope you're not left holding the bag  |
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"I’ve done alright but I’ve sold some and invested that into other things like property, bricks and mortar are the way forward for a long term investment."
Chain link paid the deposit for one of my rentals. I am a firm believer in sticking it in property at the moment. |
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"I've made a decent sum from crypto, but it's mainly by purchasing right time and hold. I'll cash in one day, but see know point with an appreciating asset.
Yes 20% depreciation in the last week is pretty phenomenal
I’d be very very careful thinking of crypto as an asset class, you will get into big problems, it’s possibly a commodity but more likely just a decentralised virtual currency.
Remember you haven’t made anything until you cash out .... it’s just some numbers on a screen "
I bought my first buy into crypto around 2006 I think. It wasn't much, but it's massively inflated over past 15 yrs. There was a crash around 2012 which wiped out a load of the value of it, but as my original stake was modest, I just left it there. Look at the trend since 2012. Shift in this week compared to where I started and rolled through, I'm not really at any loss. My value today is far far far higher than the £ value I invested. BC would have to lose 85% of it's value before I went anywhere near negative. I'm happy to ride it through and see where it goes. |
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"I've made a decent sum from crypto, but it's mainly by purchasing right time and hold. I'll cash in one day, but see know point with an appreciating asset.
Yes 20% depreciation in the last week is pretty phenomenal
I’d be very very careful thinking of crypto as an asset class, you will get into big problems, it’s possibly a commodity but more likely just a decentralised virtual currency.
Remember you haven’t made anything until you cash out .... it’s just some numbers on a screen
I bought my first buy into crypto around 2006 I think. It wasn't much, but it's massively inflated over past 15 yrs. There was a crash around 2012 which wiped out a load of the value of it, but as my original stake was modest, I just left it there. Look at the trend since 2012. Shift in this week compared to where I started and rolled through, I'm not really at any loss. My value today is far far far higher than the £ value I invested. BC would have to lose 85% of it's value before I went anywhere near negative. I'm happy to ride it through and see where it goes."
That's kind of the point, and a huge downside really.
Because it has no intrinsic value (use for goods transactions Eg buying pizza has actually gone down over the past ten years) everyone wants to ride it permanently -
You'll never sell and realise the value, until everyone sells, at which point it's worthless. Almost everyone loses. |
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By (user no longer on site)
over a year ago
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Don't start investing in things because its popular, its not the idea of it. The system is built for the big boys to take your money, its designed for big players, not public joe.
If you are going to trade, just make sure your buying and selling over weeks/months. Not minutes/hours or days, this is where you will lose your investment. |
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By *rHotNottsMan
over a year ago
Dubai & Nottingham |
Be clear what it is you are actually doing; saving, investing, protecting wealth, trading or gambling , all very different things. Compare with different types of S&S , commodities and even P2P loans.
I’m very disciplined with BTC because it’s so volatile and risky. I research and talk to other investors and decide my buy and sell points well in advance and stick to them. I trade and hold between 1 and 6 months normally, pay high fees (£30 per trade) for peace of mind on platform risk amd convert gains to property, cars, tech, tangible things I can use, or sometimes commodities.
It’s a small part of my approach , I also have P2P and tech S&S, plus gold and silver mostly because I like it !
Hindsight is a great thing but if you look back one year from now just about everything has grown phenomenally except gold which did initially and has now declined . Because initially everyone was scared and thought the system could fail , they cashed out or switched to commodities, like when there’s a property crash, famine, war, terrorism etc but the system never fails it always recovers. Remember this next time there’s a major global event.
Also remember there are fees, losses and capital gains of 20% to factor in to your margins. Unlike P2P, BTC can’t yet be included in an IF-ISA so you can’t avoid the tax, and HMRC gets feeds directly now from coin base and others. |
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By *orduneCouple
over a year ago
darvel |
Just started investing in Bitcoin have already made money on it and got out before went down this week . I thought about investing last year when it was around £10,000 if I had I would have made a lot of cash as went up to 60,000 before falling back to £54,000last week . |
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By *rHotNottsMan
over a year ago
Dubai & Nottingham |
Well today it’s over 20% down from a week ago and at £35K, two exchanges in Turkey have abruptly stopped trading locking up people’s money and South Korea are saying all exchanges could be shut down by September. |
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"Well today it’s over 20% down from a week ago and at £35K, two exchanges in Turkey have abruptly stopped trading locking up people’s money and South Korea are saying all exchanges could be shut down by September. "
The guy behind one of the shut exchanges has done a runner this week and is believed to be in Thailand. |
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