Bitcoin/cryptocurrency thread

[gaz5]

 
Not all of the news I read does. Some of the publications are starting to come round to the possibility of it being a valuable part of any portfolio.
 
Still not convinced though. Like anybody reaching retirement (I'm 53 - 2 years until I access my pension) I get a bit more risk averse. 

I'm not far behind you and only moved into crypto this year with a small part of my overall portfolio to see for myself what it was about having been a cynic for a decade or more.

I have been pleasantly surprised by what I've found. But I've also spent my entire adult life working in IT in financial services, so I'm finding the products and services in crypto truly fascinating.

[Bairnardo]

I'm not far behind you and only moved into crypto this year with a small part of my overall portfolio to see for myself what it was about having been a cynic for a decade or more.

I have been pleasantly surprised by what I've found. But I've also spent my entire adult life working in IT in financial services, so I'm finding the products and services in crypto truly fascinating.

Did you get into Quant yet m8? 8v flogged some oil shares which I intend to put in there and that will likely be me stocked up with Quant and just see where it takes me.

[gaz5]

Did you get into Quant yet m8? 8v flogged some oil shares which I intend to put in there and that will likely be me stocked up with Quant and just see where it takes me.

I didn't, waited for it to come back to my buy zone and it didn't, so on I moved.

Still think it's a good project that will go higher, but I have a rule I don't go chasing green candles for long or short term holds. If my buys don't catch, they don't catch.

I still have it on the radar if we get a pullback here, should know in the next 4 or 5 days.

[Bigmouth Strikes Again]

According to my mate he was mining it in the early days, and he ended up with 2 bitcoin that were valued at 8 pence each, it was frying his computer, so he packed it in, had the bitcoin in some secure wallet which he then lost the pass code for, gone forever, floating about in the ethernet somewhere.

Thank you.

[KD1711]

On 01/09/2021 at 14:48, gaz5 said:

I'm not far behind you and only moved into crypto this year with a small part of my overall portfolio to see for myself what it was about having been a cynic for a decade or more.

I have been pleasantly surprised by what I've found. But I've also spent my entire adult life working in IT in financial services, so I'm finding the products and services in crypto truly fascinating.

What do you think of vechain? I think that is one of the most fascinating cryptos out there. Pancakeswap is crazy too I sold out at x3 in February but scaled back in the other week, looking forward to the bear market so I can accumulate cake, vet and eth.

[gaz5]

What do you think of vechain? I think that is one of the most fascinating cryptos out there. Pancakeswap is crazy too I sold out at x3 in February but scaled back in the other week, looking forward to the bear market so I can accumulate cake, vet and eth.

I have both.

VET is my second largest bag and I agree I like what they're doing. They have a lot of good partners and use cases at the moment, like asset management for BMW and vaccine deployment in Cyprus to name two, but the thing that intrigues me most about the project is that I think they're the only one offering BaaS (Blockchain as a Service) to large enterprise. That will, it at least I hope it will, allow them to onboard more and more enterprise level partners to Blockchain.

Drawback is they are Chinese, which is why I think the price is likely what it is with tokenomics not that dissimilar to others valued far higher, like XRP. I can't remember exactly but I think they're total and circulating supply are pretty similar.

I have it at an average of 7.6c, with a target of 78c this run, I'm hoping to make 1000% on it.

CAKE I bought in Feb for no other reason than to stake it. I've had it in Autofarm since and my bag has doubled in size (or my average has come down 50% depending on how you look at it).

The initial return I was getting (240% APY) was madness, down to a paltry 86% now. [emoji102][emoji102]

My target for CAKE is $100, which would be more than a 1000% return.

I won't be holding everything to those numbers, I'll take profit in stages. And I won't sell out completely in case they go much higher.

My plan for CAKE (and VRA) is to try and use them to cover the capital cost of everything else in my portfolio, to de-risk 100% my other holds and leave me playing with the houses money for everything else I own.

I have a list that I want to reaccumulate in the bear, VET and CAKE are on that list for sure.

[Nkomo-A-Gogo]

On 28/09/2017 at 11:33, djchapsticks said:

Decided to take the plunge. Invested just under £1400 and got 0.42BTC. 

Going to sit on it for a few years and hopefully it will pay dividends. 

Am I right in thinking this is worth more than 15,000 quid now??

1 bitcoin = 35,935 pounds right now.

[gaz5]

Am I right in thinking this is worth more than 15,000 quid now??
1 bitcoin = 35,935 pounds right now.

You are correct. And if this isn't a dead cat bounce (which still isn't invalidated) then it'll be worth a hell of a lot more than that in 4 months.

[Kapowzer]

Anyone recommend any discord discussions that are not tainted?

I bought BitTorrent a month ago purely based on the GameStop phenomenon which was based on many tech savvy, cyber currency rich 25-40 year olds having a soft spot for them. I figured the whole Napster/Pirate Bay/eMule thing would follow suit for bittorrentcoin so I bought in. Pretty much flatlined since.

Interesting reading Gaz, thanks.

[jamamafegan]

Am I right in thinking this is worth more than 15,000 quid now??
1 bitcoin = 35,935 pounds right now.

Fair play@djchapsticks

But did he cash out?

[djchapsticks]

6 minutes ago, jamamafegan said:

 

Fair play@djchapsticks

But did he cash out?

 

Long ago to be honest. I cashed out at about double my money after the initial boom in early 2018 followed by the drop.

[Zetterlund]

My crypto adventure has taken a bit of a left turn recently , when I decided to sell a good chunk of my long-term holds and put it into something that will give me a passive income. 

I kept seeing people share stuff about running StrongBlock nodes so I looked into it. It costs 10 STRONG tokens to buy a node and it pays you 0.09 tokens per day, which you can either sell or compound into more nodes when the rewards hit 10. I got in at around $285 STRONG so $2850 to buy a node, which worked out to around $800/month return, but it has since been on a run as more people have fomo'd into nodes and has more than doubled. About $1750/month at these prices. They keep adding partners, basically running nodes for other projects to help secure their networks. There seems to be concern about how sustainable the rewards are but I'm certainly enjoying it while it lasts. 

I've also got into something called YieldNodes, a similar idea where your initial investment goes towards computing power for running nodes and everyone shares in the profits. Over the last year their monthly yield has averaged 11% which compounds very nicely.

Must admit not having everything in "hope number go up" investments is a weight off the mind and it's very satisfying seeing the earnings trickle in.

[welshbairn]

2 hours ago, Zetterlund said:

I kept seeing people share stuff about running StrongBlock nodes so I looked into it. It costs 10 STRONG tokens to buy a node and it pays you 0.09 tokens per day, which you can either sell or compound into more nodes when the rewards hit 10. I got in at around $285 STRONG so $2850 to buy a node, which worked out to around $800/month return, but it has since been on a run as more people have fomo'd into nodes and has more than doubled. About $1750/month at these prices. They keep adding partners, basically running nodes for other projects to help secure their networks. There seems to be concern about how sustainable the rewards are but I'm certainly enjoying it while it lasts. 

As someone with no knowledge of this stuff that sounds awfully like a Ponzi scheme.

[Zetterlund]

6 hours ago, welshbairn said:

As someone with no knowledge of this stuff that sounds awfully like a Ponzi scheme.

They already halved the rewards received earlier this year so they do seem conscious that it needs to be sustainable. Also there are discussions about a new model including a share of fees in other tokens from the projects that will pay them for their services. There are only 3 partnerships at the moment with a potential further 80 in the pipeline, and nodes can be very profitable since it's the hardware that keeps the network secure and is rewarded with transaction fees. I'd still expect rewards to reduce over time as more get involved though.

[Fraser Fyvie]

Sold my penguin as I’d rather have the ETH at the moment. Looks like it’s about to fully send.

[iron mike python]

18 minutes ago, Fraser Fyvie said:

Sold my penguin as I’d rather have the ETH at the moment. Looks like it’s about to fully send.

x3 return? 

I thought you might "ride it to 0"?

Nice trade anyways. NFT season will go cold if the coins pump, then you can easily get your penguin back at the bottom. 

SEC going for the Uniswap Team today will be a very interesting story line to watch. (Uniswap Labs Under Investigation by SEC: Report - Decrypt) Can you sue code?

[gaz5]

The SEC are all over the place at the minute, seriously. [emoji1751]

I saw Hester Pierce being interviewed yesterday saying there's still no clarity for crypto projects.

Bit difficult for the SEC to continue that line when 1 of their own commissioners is calling them out consistently.

Not all heroes wear capes Hester Pierce. [emoji1787]

[Fraser Fyvie]

x3 return? 
I thought you might "ride it to 0"?
Nice trade anyways. NFT season will go cold if the coins pump, then you can easily get your penguin back at the bottom. 
SEC going for the Uniswap Team today will be a very interesting story line to watch. (Uniswap Labs Under Investigation by SEC: Report - Decrypt) Can you sue code?

NFTs are getting a bit frothy, lots of blatant cash grabs appearing so not convinced they continue to outperform ETH over the next few months. Still think PP is a good project and plan on getting back in but don’t want to be underweight BTC and ETH for now.

[gaz5]

NFTs are getting a bit frothy, lots of blatant cash grabs appearing so not convinced they continue to outperform ETH over the next few months. Still think PP is a good project and plan on getting back in but don’t want to be underweight BTC and ETH for now.

I know this is mad, but I don't have any BTC or ETH at the moment. I sold them out when BTC was last 59k and put the profit into Alts when they bottomed.

I know I should have some, but I'm not putting any more capital in at this point.

[Bairnardo]

Anyone know anything about Sentivate? Specifically, why it is increasing in value atm? Got told to buy some a week or so ago, and only just got around to it now having missed out on what would have been a nice prfot already. Not put much in like, but you never know where the next explosion in value will come from......