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Cryptocurrency Thread

Started by QDRPHNC, February 04, 2021, 12:17:46 AM

Previous topic - Next topic

MojoJojo

Quote from: colacentral on June 11, 2021, 01:29:33 PM
It's not a loss until it's realised as a loss.
It only won't be a loss if someone else puts more money in. There's also opportunity cost.

Quote
And Facebook didn't have income until it began selling ad space, but before that point, it still had value and was worth investing in. The end goal of crypto "currencies" (a misleading misnomer) is to provide services that are worth something to people, generally services currently supplied by banks, which patently do create value.

Even if those ideas are successful, that value isn't linked to crypto currency itself. That's like thinking a gold mine is going to be profitable, and deciding to invest in it by buying a load of gold.

colacentral

Not really. If you believe that Ethereum will eventually be widespread adopted and used similar to a bank, then you buy Ether. Ether is used to make Ethereum run. So it's like buying bricks because you expect a lot of houses to be built, or investing in an oil company because the car's just been invented.

Dr Rock

Hello crypto-experts,

So I have to dabble in it to get my extra meds off the dark web. Today I sent a few hundred quids worth of Bitcoin to a wallet of a trusted dealer on his website. But it never arrived, not after 19 confirmations and counting. Where's my coins? Will they eventually turn up in his wallet?  Will I get them back? Are they stuck in a time-vortex or something? What should I do (I've asked CoinBase to look into it, don't know what that might achieve)

Give me hope please.

peanutbutter

Quote from: Dr Rock on June 14, 2021, 06:30:29 PM
Hello crypto-experts,

So I have to dabble in it to get my extra meds off the dark web. Today I sent a few hundred quids worth of Bitcoin to a wallet of a trusted dealer on his website. But it never arrived, not after 19 confirmations and counting. Where's my coins? Will they eventually turn up in his wallet?  Will I get them back? Are they stuck in a time-vortex or something? What should I do (I've asked CoinBase to look into it, don't know what that might achieve)

Give me hope please.
contact the administrators, if it's a reasonably reputable one they may be able to track how it's missing.

Although the fact they're still even allowing bitcoin suggests not? As far as  I'm aware it's been totally removed from most major dark web markets as an option.

Dr Rock

Quote from: peanutbutter on June 14, 2021, 06:43:04 PM
As far as  I'm aware it's been totally removed from most major dark web markets as an option.

Hmm, I made two bitcoin transactions today, at two different markets, one successful, and the other one.

Mortimer

Quote from: Dr Rock on June 14, 2021, 06:30:29 PM
Hello crypto-experts,

So I have to dabble in it to get my extra meds off the dark web. Today I sent a few hundred quids worth of Bitcoin to a wallet of a trusted dealer on his website. But it never arrived, not after 19 confirmations and counting. Where's my coins? Will they eventually turn up in his wallet?  Will I get them back? Are they stuck in a time-vortex or something? What should I do (I've asked CoinBase to look into it, don't know what that might achieve)

Give me hope please.
Don't use CB or any other exchange for third party transactions. Use them for purchasing, selling exchanging but when you're done with that get your tokens off there and into a hardware wallet.  Use that for sending funds. If you can afford a few hundred quid for your meds you can afford a ledger nano or a trezor. Personally I favour the latter. It doesn't guarantee problem free transfers but it does mean that you're not at the mercy of the non-existent customer service at CB and others.

Dr Rock

Thanks that's good advice. I found out what the problem was, the site that didn't receive the transfer was having their wallet hacked by the people that made the site. It's not really a market, it's one dealer's site. And he's going to honour the sale, even though he didn't get the money, so I haven't lost three hundred quid after all, hooray.

kngen

Shiba is the new Doge, apparently. Or so my Uber driver told me. It's like the 21st-century version of a getting a tip on a 'sure thing' running in the 2.30 at Kettering from a cabbie.

A little bit of hopium yesterday

https://www.independent.co.uk/life-style/gadgets-and-tech/bitcoin-price-surge-amazon-cryptocurrency-b1890326.html

QuoteBitcoin recorded its greatest surge in over six weeks on Sunday, trading at over $39,000 for the first time since June 16, after reports that e-commerce giant Amazon is looking to hire a digital currency and blockchain product lead.

MojoJojo

Quote from: Mortimer on June 14, 2021, 09:54:58 PM
Don't use CB or any other exchange for third party transactions. Use them for purchasing, selling exchanging but when you're done with that get your tokens off there and into a hardware wallet.  Use that for sending funds. If you can afford a few hundred quid for your meds you can afford a ledger nano or a trezor. Personally I favour the latter. It doesn't guarantee problem free transfers but it does mean that you're not at the mercy of the non-existent customer service at CB and others.

I'd add to this - absolutely do not use CoinBase for anything use CoinBase Pro. They're run by the same company, the same account will log you in to both (although you have separate pro and no pro wallets, you can transfer between them) but the fees using regular CoinBase are about 10x higher. It really is a con.

Bitcoin bumped $50k today and Ethereum hit $3400, could get interesting again if they hold these levels after the last few months of downside.

Ferris

Quote from: Better Midlands on August 23, 2021, 07:59:03 PM
Bitcoin bumped $50k today and Ethereum hit $3400, could get interesting again if they hold these levels after the last few months of downside.

Not checked mine in months, up $90 in the last month (currently up $130 minus the stakes I've sold). I've already bought my oculus quest 2 with the profit so this is magic. My stake is so small now it's not worth cashing out vs just leaving it indefinitely.

Nice one.

$BTC hit $60k today, $ETH $3860 & $BNB $480 - pretty much back where they were before the big dip earlier this year, will be interesting to see how it pans out over the winter.

PlanktonSideburns

How's my dodge stock looking? Pretty good right?!

Quote from: PlanktonSideburns on October 15, 2021, 02:18:32 PM
How's my dodge stock looking? Pretty good right?!

Holding steady at the moment, $SHIB went up 400% last week when Musk tweeted a picture of his new dog.

PlanktonSideburns

Quote from: Better Midlands on October 15, 2021, 02:21:15 PM
Holding steady at the moment, $SHIB went up 400% last week when Musk tweeted a picture of his new dog.

hopefully his divorce will lead to some more DOGEbothering

buttgammon

ETH looks in an interesting place at the moment.

Does anyone have XLM? I have a little bit and it was looking really good over the last few days but is falling back a bit today.

Ferris

Up to $300 from a $100 initial investment, 70:30 ratio of Bitcoin to ETH.

Now I've cashed my initial stake out and am gambling with the winnings I'm going weeks (months?) at a time without checking it - if this thread didn't exist I'd forget I had crypto at all.

Quote from: FerriswheelBueller on October 15, 2021, 03:35:55 PM
Up to $300 from a $100 initial investment, 70:30 ratio of Bitcoin to ETH.

Now I've cashed my initial stake out and am gambling with the winnings I'm going weeks (months?) at a time without checking it - if this thread didn't exist I'd forget I had crypto at all.

I've not been following it too closely lately but have some key alerts on my Trading View account set up.

buttgammon

Ethereum hit a monthly high (€3350 - ETH) this evening and is still looking good.

Ferris

Quote from: buttgammon on October 15, 2021, 08:54:10 PM
Ethereum hit a monthly high (€3350 - ETH) this evening and is still looking good.

Will I ever learn?!

buttgammon

I'd have probably sold at least some of my (very small) investment but I was busy playing the PlayStation and only found out about the high afterwards. I initially took out my stake and wanted to just leave the profit in but had a massive fit of FOMO and put more money in, so I'm trying to force myself to stay in it for the long haul.

Ferris

Just remembered I actually have ETH still so disregard my previous statement.

C_Larence

Since April I have made around $100k from buying shitcoins on the Binance Smart Chain. All I've had to do in return is sell my soul and spend my days in telegram groups with the most annoying people on earth.

buttgammon

Quote from: FerriswheelBueller on October 15, 2021, 09:52:47 PM
Just remembered I actually have ETH still so disregard my previous statement.

Glad to hear it! Well, it's looking good at the moment anyway (famous last words).

Just saw that Bitcoin's market cap is over €1 trillion as of now!

peanutbutter

I sold a bunch a few weeks ago, cant really be arsed with it and am not willing to stake big sums to make gains that warrant fixating on it. I'll put it all back in if/when it crashes back below where I cashed out. Firmly in profit but haven't a clue how much, maybe around 1k.

chveik

Quote from: C_Larence on October 15, 2021, 09:59:59 PM
Since April I have made around $100k from buying shitcoins on the Binance Smart Chain. All I've had to do in return is sell my soul and spend my days in telegram groups with the most annoying people on earth.

can i borrow a tenner mate

imitationleather

Quote from: C_Larence on October 15, 2021, 09:59:59 PM
Since April I have made around $100k from buying shitcoins on the Binance Smart Chain. All I've had to do in return is sell my soul and spend my days in telegram groups with the most annoying people on earth.

Oh wow. Not bad at all. I ended up in a few of those groups as well and within a day or two I wanted to kill myself.

I have no crypto and I've made nowt from it whatsoever. But I would rather it be this way than be like those guys. Might look back in twenty years and regret it though.

Ferris

Is it just conspiracy butters and the like in these groups then? I can't deal with that. It's already more effort than I can be arsed with - split among global index funds and a bit in crypto please and thanks. Means fuck all effort required, which is about all I can manage.

C_Larence

Quote from: chveik on October 15, 2021, 11:33:25 PM
can i borrow a tenner mate

Sure, at the moment my money is tied up in Rune and Luna, both at a small loss from when I bought a few days ago but hopefully they'll recover.

Speaking of smart chains, Cardano released theirs last month, but there hasn't been a working DEX (decentralised exchange, a place where you can purchase smart contracts aka tokens/coins) yet. Sundae Swap is looking like it will be the go to one, within a few weeks from now probably. It's possible that there will be huge money making opportunities once that happens, especially if the crypto market stays as strong as it is right now.