Bitcoins

@Slaw do you do any day trading at all?

Been kinda balls deep in reading and watching videos etc about it.

Not actually done any yet, might dabble with couple of strategys when I'm home to see how I get on.

 

“One has been dug out which costs a lot of money”

Bitcoin mining costs a lot of computer processing power. A lot.

Gold - the less to find the more valuable it becomes. Scarcity is no issue with Bitcoin. There’s 18 million in circulation. 5-6 million of that is lost forever and there will only ever be a maximum of 21 million. Right now 900 are mined every single day.. in 3 years that number will drop to 450.

Bitcoin will record all of your moves - One of the main reasons for bitcoin in the first place is individual privacy in your money movements. Bitcoin records every transaction saved onto the blockchain forever, but there is no reason to connect your personal details to your wallet and there are many privacy coins out there (most popular Monero) that is completely private.

you don’t need an internet connection to store Bitcoin or any cryptocurrency. You also don’t need to store it online. You can have it offline in cold storage and you only need an internet connection when you want to send it. It’s 2021 mate, internet ain’t that hard to find.

Some people have this perception that bitcoin is fairy dust land and it doesn’t exist. It very much does exist, it’s just digital. If it was imaginary fairy dust they wouldn’t be going for $60k a pop.

More importantly- what we’re all in this for - Bitcoin will be well over $1m a pop in 10 years time.. while you MIGHT double your money on gold if you’re lucky.

 

Very little mate. I might get a bit of it going soon but right now I’m more interested in getting good entries for long term holds.

 

It's all fun and games until it pops and your entire portfolio is in the red. I've been invested in various cryptocurrencies since 2017. It's happened before and will happen again.

Doesn't mean there isn't money to be made but don't get greedy and be happy to take profit when it's available. It doesn't take long for those profits to disappear.

There's a good chance that Bitcoin could be worth hundreds of thousands but it's not a given. There are far too many people throwing money at anything just now, which makes me uncomfortable.

 

It’s all part of the plan my friend. Bitcoin will crash 80% at some stage.. maybe more. I plan on being out well in advance and then getting back in at the bottom.

 

I saw Data Dash say he's liking the look of Tron (even though he doesn't like it), something you've looked at @Slaw?

 

TRON is massively overpriced. I wouldn't waste your time with it. A billion promises but nothing to show for it. It's not far off being vaporware in my opinion, and it's only where it is because Justin Sun has the money to relentless shill it and get others to do so.

The market cap is already over 6 billion, so even a speculative investment, which is risky in itself, isn't realistically going to get you massive returns.

There are better projects out there that have real-world uses at a far lower market cap than TRON.

 

What coins are interesting you?

 

Vechain flying at the moment I put a bag in when I seen this post

Think I got in at 0.08

Wish I put more in now haha

 

And the guy that's involved with Tron is a complete fraudster

 

I’ve got a * load of them

 

Was thinking of moving most my BTC into alts for just now to try and get some short term gains then put back into BTC.

Would probably go * up though haha

 

I don’t hold any btc.. havent for months. Massive alt season coming I reckon.

 

Come back in 10 years @Slaw

 

Yeah my thinking also BTC will be BTC

Would like the try and catch one or two 5x or 10x coins but keep missing them

Vechain
Xrp
Cardano
Ethereum
UTK

Are my main holds

 

I currently have:

ETH
VET
LINK
UNI
*
ADA


about 60-70% of that is in ETH. Although I'm a beginner so not made much.

 

Xrp flying

Once this sec case is done with expecting big things.

 

I’ve actually sold all my eth. Looking to chase bigger gains in Loopring, Vechain and Dash

 

Whats promising about Loopring?

 

It’s one of Datadash’s top 10 alts for the year.. it’s a “Defi” coin that has recently slipped from about #70 in the rankings to about #120. When the second wave of Defi pumps come I can see it going on a pretty massive run. A couple of months ago it was $0.90, now trading at about 60% of that... if it was to jump back to #70 that would be a 120% pump.