ender4 Posted August 24, 2021 Share Posted August 24, 2021 2 hours ago, Beastmix said: What? It's nothing like that at all. You make educated decisions (a bit like a sports bet, rather than a game of absolute chance like roulette). Much like in stocks, the value can go down, but if you keep up to date with new uses and partnerships, you stand a good chance of making money. Also, you're skewing my numbers there. I meant if you got in on Bitcoin when it was £1 for 1 Bitcoin. For example, in 2011 you were able to get 1 Bitcoin for $1. If you did this in 2011, and kept it until now, your $1 in Bitcoin would be worth $48,304 today. If you had purchased $100 worth back then, you'd be looking at £4.83m today. Yes fine it’s like a sports bet. So you agree its gambling, not investing. You’ve cherry-picked the best case scenario with your numbers. I just showed the opposite scenario where 50% of people have lost a lot of money. Like I said, it’s worked out nicely for me, because my gamble paid off. But it’s absolutely a gamble and anyone getting into crypto should know that there is a high chance you can lose a lot of money. As well as potentially make a lot of money. Only gamble what you are wiling to lose. 1 Link to comment Share on other sites More sharing options...
HanoiVillan Posted August 24, 2021 Share Posted August 24, 2021 It's pure gambling, and essentially a greater fool game where the only object is to find a sucker bigger than you are to buy your holdings at a higher price. The decisions are not 'educated', because there is no basis for the price. You can look at historical patterns of price shifts and guess whether they will or won't occur again, but the assets do not do anything or gain any return other than price increases at the whim of the market, so what can you be 'educated' about. In my hand I have a flubbertybibble. It's worth £10. Now tell me what a flubbertybibble will be worth next Tuesday. Link to comment Share on other sites More sharing options...
Beastmix Posted August 25, 2021 Share Posted August 25, 2021 10 hours ago, HanoiVillan said: It's pure gambling, and essentially a greater fool game where the only object is to find a sucker bigger than you are to buy your holdings at a higher price. The decisions are not 'educated', because there is no basis for the price. You can look at historical patterns of price shifts and guess whether they will or won't occur again, but the assets do not do anything or gain any return other than price increases at the whim of the market, so what can you be 'educated' about. In my hand I have a flubbertybibble. It's worth £10. Now tell me what a flubbertybibble will be worth next Tuesday. It is a gamble, of course, but it's more like placing a sports bet (where you can make an educated judgement, based on form and other factors) than it is roulette (which is pure chance). If you blind-buy random cryptocurrencies, sure, say goodbye to your money. There absolutely is basis for the price. Take ADA for example. It was plodding along at around 0.70p per ADA, but then the Cardano Africa project was announced and it has been steadily rising since - currently at around £2. This works similarly to how stocks/shares work. Apple releases a new phone and it sells like hotcakes, the share price goes up. Dyson announces a revolutionary new vacuum cleaner, the share price goes up. Say a company announces it will start accepting XRP as payment for their products, the price of XRP will go through the roof and everyone who bought in when it was <£1 per XRP, will suddenly find themselves with quite a bit of money (hence the term 'overnight millionaires') The key is to do a bit of research and find out what new uses are to be announced or are in the pipeline and speculate accordingly. 1 Link to comment Share on other sites More sharing options...
HanoiVillan Posted August 25, 2021 Share Posted August 25, 2021 9 minutes ago, Beastmix said: Say a company announces it will start accepting XRP as payment for their products, the price of XRP will go through the roof The instability in value of a currency is what makes it unsuitable to be a currency. Link to comment Share on other sites More sharing options...
Rds1983 Posted August 26, 2021 VT Supporter Share Posted August 26, 2021 On 25/08/2021 at 00:26, HanoiVillan said: It's pure gambling, and essentially a greater fool game where the only object is to find a sucker bigger than you are to buy your holdings at a higher price. The decisions are not 'educated', because there is no basis for the price. You can look at historical patterns of price shifts and guess whether they will or won't occur again, but the assets do not do anything or gain any return other than price increases at the whim of the market, so what can you be 'educated' about. In my hand I have a flubbertybibble. It's worth £10. Now tell me what a flubbertybibble will be worth next Tuesday. You've selling flubbertybibble's... 2 Link to comment Share on other sites More sharing options...
Genie Posted September 1, 2021 Share Posted September 1, 2021 Good deal if anyone wants an offline wallet, 49% off (till 11pm tonight, or all sold) Nano S lightning deal at Amazon 2 Link to comment Share on other sites More sharing options...
Stevo985 Posted September 2, 2021 VT Supporter Share Posted September 2, 2021 14 hours ago, Genie said: Good deal if anyone wants an offline wallet, 49% off (till 11pm tonight, or all sold) Nano S lightning deal at Amazon I've got one of these. They're excellent 1 Link to comment Share on other sites More sharing options...
Genie Posted September 2, 2021 Share Posted September 2, 2021 (edited) 2 minutes ago, Stevo985 said: I've got one of these. They're excellent I have the Nano X which is brilliant. People who keep their money/crypto on exchanges are crazy. The Lightning deal at Amazon is over now but it’s still only £54 which is a bargain. Edited September 2, 2021 by Genie Link to comment Share on other sites More sharing options...
ender4 Posted September 4, 2021 Share Posted September 4, 2021 Etherium flying! 1 Link to comment Share on other sites More sharing options...
Villan_of_oz Posted September 14, 2021 VT Supporter Share Posted September 14, 2021 Is anyone on here into Zed Racing, I would like to know if anyone is as it might be worth starting a thread of its own. If not then no point. Link to comment Share on other sites More sharing options...
PieFacE Posted October 28, 2021 Author VT Supporter Share Posted October 28, 2021 Ouch. 1 Link to comment Share on other sites More sharing options...
KAZZAM Posted October 28, 2021 Share Posted October 28, 2021 14 minutes ago, PieFacE said: Ouch. Pretty funny but I don't think Shib is that old. Link to comment Share on other sites More sharing options...
PieFacE Posted October 28, 2021 Author VT Supporter Share Posted October 28, 2021 34 minutes ago, KAZZAM said: Pretty funny but I don't think Shib is that old. I thought it was tbh but don't really follow those types of coins. Link to comment Share on other sites More sharing options...
Genie Posted October 28, 2021 Share Posted October 28, 2021 7 hours ago, KAZZAM said: Pretty funny but I don't think Shib is that old. Looks like it was launched August 2020. Fair play to anyone that got in really early on it (I reckon this guy didn’t). Link to comment Share on other sites More sharing options...
Genie Posted October 28, 2021 Share Posted October 28, 2021 (edited) 7 hours ago, PieFacE said: I thought it was tbh but don't really follow those types of coins. I just bought 10 million of them for £500 . This time next year Rodders…. Edit: It’s up £25 in 12 minutes Just need a few million more mugs like me to pump their cash in Edited October 28, 2021 by Genie Link to comment Share on other sites More sharing options...
Genie Posted October 28, 2021 Share Posted October 28, 2021 One thing I’ve wondered a few times, if you end up owning something that ends up being worth stupid money, like £50m for example. Can you just sell it in 1 go on Coinbase and transfer the cash to your bank? It seems a bit easy and straight forward… Link to comment Share on other sites More sharing options...
PieFacE Posted October 28, 2021 Author VT Supporter Share Posted October 28, 2021 6 minutes ago, Genie said: One thing I’ve wondered a few times, if you end up owning something that ends up being worth stupid money, like £50m for example. Can you just sell it in 1 go on Coinbase and transfer the cash to your bank? It seems a bit easy and straight forward… Nah there's limits to they you withdraw to banks. If you trade a lot you can get your limits increased. 1 Link to comment Share on other sites More sharing options...
Genie Posted October 28, 2021 Share Posted October 28, 2021 Coinbase have another quiz for $3 of Bounce token. I just converted it to another 44,400 SHIB. All in Link to comment Share on other sites More sharing options...
Genie Posted October 28, 2021 Share Posted October 28, 2021 Just now, PieFacE said: Nah there's limits to they you withdraw to banks. If you trade a lot you can get your limits increased. I guess if you had some insane value you’d have to meet or speak to them about your intentions to make a major withdrawal. I’d hate to think what the fees are like. Link to comment Share on other sites More sharing options...
Genie Posted October 29, 2021 Share Posted October 29, 2021 On 28/10/2021 at 20:29, Genie said: I just bought 10 million of them for £500 . This time next year Rodders…. Edit: It’s up £25 in 12 minutes Just need a few million more mugs like me to pump their cash in +£80 / 17% in 24 hours. Need Elon Musk to start tweeting about it. 1 Link to comment Share on other sites More sharing options...
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