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Anyone here do Crypto? (my Shib is crazy)

chazzy2501

By chazzy2501
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TwistedHelixis

TwistedHelixis

Posted
Posted (edited)
I suspect Crypto will fall apart when the US financial regulator just gives up and bans it.

Even now, with China banning it there are still crypto coins being sent between China and other countries. There are also plenty of point to point crypto trades going on and decentralised exchanges, sure the volume will drop without the main exchanges, but don't think it would fall apart.

 

China’s campaign against cryptocurrencies led to the authorities shutting down bitcoin mining operations in May. That has coincided with the rise of decentralised finance or DeFi, which allows users to trade with each other without any intermediary, such as a bank or broker, and makes it harder to block.

 

“I still regularly trade crypto,” said one Chinese investor with an overseas bank account. “How can authorities stop me when the industry has developed to evade centralised control?”

Edited by TwistedHelixis
jonathan.lees

jonathan.lees

Posted
Posted
With all the hype of NFTs at the moment and the transaction fees on ethereum being over £30 - £50 a shot, ethereum layer-two solutions are worth a gamble on right now - Polygon (MATIC) and Loopring (LRC) are solutions that reduce fees to pennies
  • 4 weeks later...
maark

maark

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I have dabbled in some on etoro - the spread is wide so not best value but easy to trade.

Cardano (Ada) you get staking rewards every month - think of it as interest.

It is a gamble but I think there may be some future in some of the coins.

Bank of England keep issuing warnings against crypto - makes may me think they are scared of it. Is fiat currency that stable? - it is no longer exchangeable for gold :-)

foofighterjim

foofighterjim

Posted
Posted

Very much the same, just £30 on each of Bitcoin, Ethereum and ADA. The staking for ADA is interesting, although the value has dropped nearly 20% since I opened the position the other week.

 

Still, following rule number one, not putting on anything more than I’m willing to lose. You see people with thousands invested in Crypto, I just don’t see how when it is so volatile and they can swing for no apparent reason or from one Tweet from Musk. I suppose some people are happy to risk a few thousand (like me with my £90) at the prospect of hitting a coin at the right moment for a chance of 1000%+ profit.

  • 1 month later...
CHiLL

CHiLL

Posted
Posted (edited)
I managed to get a 3080 last year and when I'm not gaming, it's mining. With the amount I've mined, I've cashed out enough to cover the costs of electricity, so I'm effectively mining for free. In my wallet, at today's (lower/recovering) value, I've got some £800, which is more than I paid for the 3080. Edited by CHiLL
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  • 3 months later...
browolf

browolf

Posted
Posted (edited)
Didn't they do things differently to the other stable coins?

 

F indeed.

 

On a side note I have been buying the dip, fingers crossed.

 

As I understand it

 

UST is pegged to luna instead of the dollar like other stable coins.

Selling $1 of UST burns that UST and creates $1 of luna (and vice versa)

The stability is maintained by arbitrage in the market unless UST becomes unpegged by too much selling and not enough arbitrage.

The supply of luna went from 1mill to 6trillion in 3 days.

 

Binance had delisted luna this morning but after a 2hr phonecall with the terra team they've relisted it if CZ thinks there's a chance to recover it's worth getting a few $ worth at the bottom I'd say. Like literally $5

Edited by browolf
mikes

mikes

Posted
Posted
I was tempted to buy £100 worth of Luna when it was at £0.01, but Binance disabled buying it "for my own protection". I cursed them thinking I didn't need their nanny state protection. But now Luna is at £0.0002 so I thank them for it now. I've never seen a coin crash so hard in such a small amount of time. People posting they had $200,000 in Luna and now they've lost it all. But then a lot of these are people who put in a few hundred quid and watched it soar to $200,000 - thinking they are rich - but let this be a lesson, until you cash out all you possess is a number on a screen!
ITGuyNW

ITGuyNW

Posted
Posted
I just bought 3000 luna for £1 just to see what all this crypto stuff is about. Using crypto.com so it's basically a buy and sell exchange. Interesting and murky world where currency can rise 30% in a day then crash 60% like Luna did on Saturday.
mikes

mikes

Posted
Posted
yeah IMO that is the way to play with crypto, put in a few quid and you might get lucky. My mate put £20 into Dogecoin, I thought it was a stupid memecoin and spent my £20 on snacks from tesco. He gained £500 and I gained about 3lbs in weight. I keep hearing about people taking out loans to invest in crypto and IMO that is just crazy.
bald_pig

bald_pig

Posted
Posted
I just bought 3000 luna for £1 just to see what all this crypto stuff is about. Using crypto.com so it's basically a buy and sell exchange. Interesting and murky world where currency can rise 30% in a day then crash 60% like Luna did on Saturday.

 

It's not currency, it's effectively stocks.

Jaan

Jaan

Posted
Posted
I put £100 into the four coins in paypal, They have never gone above the £25 I invested into each of them. Altogether they are about £53

 

i've "invested" (lol) approx $1500 over 5years in crypto. it's worth about $700 now after the crash...... was almost $4k before that.

 

I got into shiba too late...... by 7 days :rolleyes: i now tend to put small amounts on coins that look promising that have yet to become popular. It's not a risk, everything i put into cyrto i expect to lose. its money i would normally spent on Cigs and beer.... I wouldn't dream of getting a loan to put on crypto, thats crazy.

 

My shiba is still up %50 after the crash, its more like a hobby and something i like to track...... could have used a virtual wallet i guess, but where's the fun in that.

 

Only spend what you can afford to lose.

TwistedHelixis

TwistedHelixis

Posted
Posted
i've "invested" (lol) approx $1500 over 5years in crypto. it's worth about $700 now after the crash

 

At some point it would have been worth a lot more than the $1500, did you take out your original amount so its 'free money' from that point on. I always invest then take out my original amount after its gone up. If it goes down I just wait.

Jaan

Jaan

Posted
Posted
At some point it would have been worth a lot more than the $1500, did you take out your original amount so its 'free money' from that point on. I always invest then take out my original amount after its gone up. If it goes down I just wait.

 

No, i have never cashed anything out. I just hodl. My shib is in the green, but the rest of my portfolio drags it down :D

 

I have over 100billion of one type of crypto, if it became as popular as shiba...... that would be nice......

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