Cryptocurrency

Started by gallsman, September 01, 2017, 02:36:49 PM

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Methuselah

If you have Dot, Ada, Eth etc, all of these can be used to stake for a return.

For those with polkadot, parachain slot auction crowdloans are now live. You can stake your Dot and acquire tokens for new projects. These can be accessed on Binance, Kraken or directly on the polkadot.js webwallet extension. the latter would not be recommended if you could not be arsed with a learning curve - binance would be the best option. Away from using Binance, Acala would be recommended as you get a substitute for locking your dot away for the 2 year lease period.

ADA can be transferred to the Yoroi wallet which can be downloaded from play store. Fairly easy to delegate your ada to a stakepool for 5pc return, or with a bit more research to new project stakepools for return of tokens as part of launches. Sundaeswap is one such project to become available to stake to in the coming weeks as Cardano comes online.

Ethereum is harder to work with given sometimes ridiculous network costs (gas fees) and badly needs the long heralded upgrade to Eth 2.0 to stop trickle to the 'competitors'. However it is becoming close to deflationary and liable to be a 'safe' (relatively speaking for crypto) bet for holding or increasing value over the coming months. Matic and others function to reduce the cost of working with Eth but again suffer from high initial on/off ramp costs due to the underlying cost of eth.

All of the above requires a learning curve, Cardano is prob the easiest/cheapest to work with at the present time.

Armagh18

Bitcoin on the way down again?

toby47

Quote from: Armagh18 on November 12, 2021, 04:55:44 PM
Bitcoin on the way down again?

Current Price $63,500
Last weeks price $60,200
Price 1 month ago $57,000
Price 1 year ago $15,000

Smokin Joe

Quote from: Armagh18 on November 12, 2021, 04:55:44 PM
Bitcoin on the way down again?

There'll be plenty downs along the way. It seems to happen when there is a lot of leverage in the market and a small drop then forces liquidations of longs, which then drives the price further down.
There's no need to dice with leverage in my view, and then these dips don't hurt you, and perhaps may even present a further buying opportunity.

Armagh18

Quote from: toby47 on November 13, 2021, 10:44:38 AM
Quote from: Armagh18 on November 12, 2021, 04:55:44 PM
Bitcoin on the way down again?

Current Price $63,500
Last weeks price $60,200
Price 1 month ago $57,000
Price 1 year ago $15,000
Long term the only way is up. When I posted that it had went from £50k to around £46k in a couple of days.

bennydorano

A few worried boys about the last couple of days

Armagh18

Quote from: bennydorano on November 19, 2021, 09:40:57 AM
A few worried boys about the last couple of days
Dropping rightly. Might see if it drops a bit more and bang a few quid into it then.

clarshack

Quote from: bennydorano on November 19, 2021, 09:40:57 AM
A few worried boys about the last couple of days

I'd say there is.

I took out my initial investment when prices were good so if it all goes to zero then I won't have lost anything with what I have left.

Smokin Joe

Quote from: bennydorano on November 19, 2021, 09:40:57 AM
A few worried boys about the last couple of days

Honestly, not me. It always has drops of 20% - 30% even when it is on its way to setting record high.  It's just what it does.
The mindset is to be buying a little each week, that way a drop doesn't get into your head as it allows you to buy cheaper than you were buying at last week.
That's what I do. It's great for the emotional aspects of it.

I got into this at the worst possible time; start of April this year and my first purchases were at $58k.  The reality is that it takes booms to get normal people interested in the space.  I took time over the summer to understand it and I have belief in it.  So all summer I bought a little every single week, with my lowest buy being on 19th July at $30,686.  Doing this helped me reduce my average cost with the result that when it came back up even to near $50k I was in profit.

My belief is that we'll go well in excess of $100k by the middle of next year, and yes, we will have the odd 30% drop on the path of getting there. It just won't go straight up week after week, even though that would be easier to see!!

bennydorano

I'm certainly no expert but i thought there 2 big pieces of news this week regarding Crypto that influencedthe drop, Tax implications in the USA & Russia taking a slice in fee transactions, if that's replicated by every major Government then it surely won't be smooth sailing for the casual speculator.

Smokin Joe

I thought Hilary Clinton's thoughts on it last night were very significant.

She said it has the potential to undermine currencies (inc the role of the USD as the reserve currency of the world) and destablise nations.
Ponzi schemes don't have the potential to undermine the USD as the reserve currency of the world.

When you have people like Clinton telling world leaders to be aware of this it shows you what the potential is for this.

Boycey

I always like to think of myself as tech savvy but obtaining and paying for something using bitcoin eludes me and I've looked into it several times ... I need to pay 100/200 quid semi regularly. Any help gratefully received

Smokin Joe

Quote from: Boycey on November 27, 2021, 09:26:49 AM
I always like to think of myself as tech savvy but obtaining and paying for something using bitcoin eludes me and I've looked into it several times ... I need to pay 100/200 quid semi regularly. Any help gratefully received

Boycey, drop me a PM.
Can either pay onchain, and the fees are very low at the minute or can pay on the Ligntning network if the payee will accept it. Lightning payment is free (or at least costs less than 1c).

Armagh18


JPGJOHNNYG

A bad 48 hrs but sure that's the way it goes. Strap yourself in and enjoy the ride. The secret is not to put money in that you actually need!!