Cryptocurrency

[brokencrossbar1]

I’ll just keep my £50 in my pocket and use it to by pints then

[JoG2]

Was wondering would it be worth a punt in the likes of Luna?  Is it likely to rebound?

What is Luna and how much is a punt? £1000 to test the water?

A big grand! 

If I was to say, invest the princely sum of £50 (I'm as far removed from a gambling man as you can get), who'd be a good bet?
Thanks

Not financial advice lol but if you can stretch to about £65-£70 buy some ISO 20022 compliant coins. Maybe go with 1000 XDC, 150 XLM, 50 XRP and leave them til the end of 2022/start of 2023.
Other ISO 20022 compliant coins are Iota and Algorand.

Thanks Clar, will have a look (not that I have a feckin clue what I'm looking for right enough). Downloaded Trust Wallet, but through that app OK?

Haven't used Trust Wallet before but just downloaded it there to have a quick look. It supports XRP, XLM and Algorand but it appears to have a £50 minimum purchase per transaction? so if you are are only looking to spend £50 you are limited to picking 1 coin.

Thanks again. All double Dutch to me tbh! As BCB1says, I'll maybe hold onto the money too 

[AnPuca]

I'm heavy in on Cardano. Just flipping the NFTs and that are a great way to make extra.

What app/website do you use for the NFT’s? Would like to get started on them but want to do a bit of research first.

The wallets I used for Cardano (ADA) are called Yoroi wallet and also Eternl wallet. I normally buy my Cardano on Binance and then transfer it over to the wallets.

In relation to where I buy the NFTs. In some cases I buy the NFTs directly from the seller when they are minting them. You find these projects on twitter and that so you need to do a bit of research into what NFTs you like and that the project is run by a good team. Discord channels are great but also running wild with scammers so have to have your wits about you

So if a project has 10,000 NFTs on sale for 50 ADA I send 50 ADA to their minting address and they send back a random NFT a few minutes later.

If a project has sold out and I want to buy an NFT on a secondary marketplace I normally only use jpg.store.

Its not for everyone mind you and I get that. I just enjoy Cardano whereas other people would avoid it like the plague. I enjoy it and some of the communities are really deadon and helpful. Couple of good Irish themed NFTs have done well that I am involved in and the team are all public and arrange meet ups for members. Its not all based online and scary scary like some would lead to believe.

[Milltown Row2]

I’ll just keep my £50 in my pocket and use it to by pints then

Ah f**k it!! I'm out tomorrow for first in a while so will plurge it on Tapas and booze!

[Armagh18]

I'm heavy in on Cardano. Just flipping the NFTs and that are a great way to make extra.

What app/website do you use for the NFT’s? Would like to get started on them but want to do a bit of research first.

The wallets I used for Cardano (ADA) are called Yoroi wallet and also Eternl wallet. I normally buy my Cardano on Binance and then transfer it over to the wallets.

In relation to where I buy the NFTs. In some cases I buy the NFTs directly from the seller when they are minting them. You find these projects on twitter and that so you need to do a bit of research into what NFTs you like and that the project is run by a good team. Discord channels are great but also running wild with scammers so have to have your wits about you

So if a project has 10,000 NFTs on sale for 50 ADA I send 50 ADA to their minting address and they send back a random NFT a few minutes later.

If a project has sold out and I want to buy an NFT on a secondary marketplace I normally only use jpg.store.

Its not for everyone mind you and I get that. I just enjoy Cardano whereas other people would avoid it like the plague. I enjoy it and some of the communities are really deadon and helpful. Couple of good Irish themed NFTs have done well that I am involved in and the team are all public and arrange meet ups for members. Its not all based online and scary scary like some would lead to believe.

cheers for the response. Half of that is going over my head so I’ll definitely do plenty of reading up on it before I stick money in it

[Milltown Row2]

I'm heavy in on Cardano. Just flipping the NFTs and that are a great way to make extra.

What app/website do you use for the NFT’s? Would like to get started on them but want to do a bit of research first.

The wallets I used for Cardano (ADA) are called Yoroi wallet and also Eternl wallet. I normally buy my Cardano on Binance and then transfer it over to the wallets.

In relation to where I buy the NFTs. In some cases I buy the NFTs directly from the seller when they are minting them. You find these projects on twitter and that so you need to do a bit of research into what NFTs you like and that the project is run by a good team. Discord channels are great but also running wild with scammers so have to have your wits about you

So if a project has 10,000 NFTs on sale for 50 ADA I send 50 ADA to their minting address and they send back a random NFT a few minutes later.

If a project has sold out and I want to buy an NFT on a secondary marketplace I normally only use jpg.store.

Its not for everyone mind you and I get that. I just enjoy Cardano whereas other people would avoid it like the plague. I enjoy it and some of the communities are really deadon and helpful. Couple of good Irish themed NFTs have done well that I am involved in and the team are all public and arrange meet ups for members. Its not all based online and scary scary like some would lead to believe.

cheers for the response. Half of that is going over my head so I’ll definitely do plenty of reading up on it before I stick money in it

Is the Toro app thingy not handy to use? I've never used it for real money yet lol

[AnPuca]

I'm heavy in on Cardano. Just flipping the NFTs and that are a great way to make extra.

What app/website do you use for the NFT’s? Would like to get started on them but want to do a bit of research first.

The wallets I used for Cardano (ADA) are called Yoroi wallet and also Eternl wallet. I normally buy my Cardano on Binance and then transfer it over to the wallets.

In relation to where I buy the NFTs. In some cases I buy the NFTs directly from the seller when they are minting them. You find these projects on twitter and that so you need to do a bit of research into what NFTs you like and that the project is run by a good team. Discord channels are great but also running wild with scammers so have to have your wits about you

So if a project has 10,000 NFTs on sale for 50 ADA I send 50 ADA to their minting address and they send back a random NFT a few minutes later.

If a project has sold out and I want to buy an NFT on a secondary marketplace I normally only use jpg.store.

Its not for everyone mind you and I get that. I just enjoy Cardano whereas other people would avoid it like the plague. I enjoy it and some of the communities are really deadon and helpful. Couple of good Irish themed NFTs have done well that I am involved in and the team are all public and arrange meet ups for members. Its not all based online and scary scary like some would lead to believe.

cheers for the response. Half of that is going over my head so I’ll definitely do plenty of reading up on it before I stick money in it

Is the Toro app thingy not handy to use? I've never used it for real money yet lol

I've never used it myself so I couldn't honestly tell you.. See ads for it everywhere though

[brokencrossbar1]

I’ll just keep my £50 in my pocket and use it to by pints then

Ah f**k it!! I'm out tomorrow for first in a while so will plurge it on Tapas and booze!

Sounds a better plan than any!!!

[J70]

Was wondering would it be worth a punt in the likes of Luna?  Is it likely to rebound?

What is Luna and how much is a punt? £1000 to test the water?

A big grand! 

If I was to say, invest the princely sum of £50 (I'm as far removed from a gambling man as you can get), who'd be a good bet?
Thanks

Not financial advice lol but if you can stretch to about £65-£70 buy some ISO 20022 compliant coins. Maybe go with 1000 XDC, 150 XLM, 50 XRP and leave them til the end of 2022/start of 2023.
Other ISO 20022 compliant coins are Iota and Algorand.

Thanks Clar, will have a look (not that I have a feckin clue what I'm looking for right enough). Downloaded Trust Wallet, but through that app OK?

Haven't used Trust Wallet before but just downloaded it there to have a quick look. It supports XRP, XLM and Algorand but it appears to have a £50 minimum purchase per transaction? so if you are are only looking to spend £50 you are limited to picking 1 coin.

Thanks again. All double Dutch to me tbh! As BCB1says, I'll maybe hold onto the money too 

Same here.

Was just reading an article on The Atlantic about the collapse of that Terra/Luna thing and the whole idea that crypto is basically supported by collective faith in its value (as opposed to the value of something tangible like, say, land, or actual money with its long history as a proven system of exchange).

I just can't wrap my head around it.

Either the system itself or this thing you hear about it taking a small power plant to run the servers required for "mining". WTF is THAT all about?

The mayor of NYC made a big deal when he started a couple of months ago about getting his salary in crypto. I wonder if he still is? Even bitcoin, the supposed stable, established one, has declined more than 50% against the dollar in the past six months.

[seafoid]

Crypto is a function of asset bubbles. There is no there there.

[seafoid]

https://www.ft.com/content/f066fd8a-b71d-45a1-9a01-ebca9d66f87b

Finance ministers and central bank governors from the G7 group of industrialised countries have called for rapid development of the regulation of financial assets based on crypto technologies, immediately after one of the sharpest declines in the value of assets in the nascent class.

In a statement after a meeting of the group’s finance ministers in Bonn, the G7 urged the international Financial Stability Board and other international authorities to “advance the swift development and implementation of consistent and comprehensive regulation of cryptoasset issuers and service providers”.

The statement urged the need for “stronger disclosure and regulatory reporting”, especially of the nature of reserve assets said to back so-called stablecoins — a key class of crypto asset whose value is tied to that of the US dollar.

[J70]

Crypto is a function of asset bubbles. There is no there there.

That's what it looks like to me.

Yet all these smart people seem to think there IS something worthwhile underlying it.

[Smokin Joe]

Bitcoin is very different to all the other "crypto" assets.
All of the other tokens (exc stable coins) are effectively commercial ventures that are supposedly decentralized by they are actually ran by a limited number of key people / validators.  I totally agree that a lot of the other crypto assets are just speculation assets, but I am content that Bitcoin is very different.

Bitcoin is truly decentralised and permissionless, none of the rest of the crypto assets can say that.  Eth is the next supposedly most decentralised asset but they effectively force validators to update the code / issuanace protocal as directed by the Ethereum Foundation due to the Eth difficulty Bomb.

[Eamonnca1]

Bitcoin is very different to all the other "crypto" assets.
All of the other tokens (exc stable coins) are effectively commercial ventures that are supposedly decentralized by they are actually ran by a limited number of key people / validators.  I totally agree that a lot of the other crypto assets are just speculation assets, but I am content that Bitcoin is very different.

Bitcoin is truly decentralised and permissionless, none of the rest of the crypto assets can say that.  Eth is the next supposedly most decentralised asset but they effectively force validators to update the code / issuanace protocal as directed by the Ethereum Foundation due to the Eth difficulty Bomb.

I don't see what that has to do with the price of fish. Bitcoin still has no intrinsic value, only a market value, just like all these other Dutch Tulip cryptocurrencies. Won't be long now until this party's over.

[seafoid]

Crypto isn't scalable in a world of climate change

https://www.ft.com/content/446e0e6a-6858-4e33-a6cf-8c2e302dc75d

According to a New York Times analysis, bitcoin mining uses 0.5 per cent of all the world’s electricity. That’s seven times more than that used by all of Google’s global operations. There is also a growing e-waste problem: a recent study by researchers from MIT and the Dutch central bank estimated that the waste produced by every single bitcoin transaction — there are usually about 300,000 each day — is equivalent to that of two iPhones, due to the short lifespans of the mining hardware