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Investing in Ethereum & tokens

Convict Colony

By Convict Colony
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Saint86

Saint86

Posted
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Paper profit up to now, but may cash in now. A neat on free ST for next year vs £1 in interest from the bank looks like a good call

 

All that hard work and investment - just to throw it all away :lol:

  • 4 weeks later...
JackanorySFC

JackanorySFC

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How are you all getting on? Last week I finally got round to getting £1000 work of bitcoin (proud owner of 0.13 of a bitcoin), just for a bit of fun really. In a week I'm up £470. Approx £200 of that today, it's truly bonkers and a good laugh actually (as someone said above, up and down double digits on an hourly basis sometimes)! Giving Ethereum a swerve for now but if it drops to £250 I'll lump a £1000 on that as well.

 

Some of you early adopters must be laughing now (assuming you held your nerve)? Good effort if so! Anyone buying Bitcoin back in June would be approx 5x up by the looks of things?

Johnny Bognor

Johnny Bognor

Posted
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How are you all getting on? Last week I finally got round to getting £1000 work of bitcoin (proud owner of 0.13 of a bitcoin), just for a bit of fun really. In a week I'm up £470. Approx £200 of that today, it's truly bonkers and a good laugh actually (as someone said above, up and down double digits on an hourly basis sometimes)! Giving Ethereum a swerve for now but if it drops to £250 I'll lump a £1000 on that as well.

 

Some of you early adopters must be laughing now (assuming you held your nerve)? Good effort if so! Anyone buying Bitcoin back in June would be approx 5x up by the looks of things?

 

I've got some bitcoin, a little in Ether and a small amount of Litecoin.

 

Bought into Ripple (XRP) last week.

Johnny Bognor

Johnny Bognor

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Good work. Will take a look at Ripple now...

 

Ripple has lost a bit in the last week. It is around $0.23 at the moment.

 

These guys reckon US$1000+... meaning a £100 investment now, could be worth half a million quid in two years. I don't see it myself, even after looking at Bitcoin and Ether's meteoric rise.

 

If Ripple XRP becomes the defacto money transfer tech and replaces SWIFT, then I'm guessing it could get to $10 within a few years. That would still give a nice return of 5000%. But it is a completely speculative gamble, so only put down what you can afford to lose.

 

24294352_10155989979488854_7989006816005277304_n.jpg?oh=4c11c98b0391dd3bb4e1f556bba2c60f&oe=5ACA9BD1

OldNick

OldNick

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It seems investing in these is the new craze, both my niece's partners have bought in and they have supreme confidence that they will make a lot of money.

I cant see where the value is, but I assume it is my old thinking that doesn't get it.

How McDonalds will take them lord knows, with something that fluctuates so much a burger one minute will be worth £1.59 the next £45 and a day later £1.25 . Built on sand IMO, but at present I'm looking a tad wrong.

shurlock

shurlock

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ALso I wonder if Warren Buffet is buying into the market,I suspect he's not

 

Not a chance, though he's quite a puritan. He has always hated tech stocks -and only invested in Apple in 2016. His only other tech holding is IBM, IIRC.

benjii

benjii

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Ethereum progressing well and Bitcoin absolutely smashing it.

 

If you bought one pound of Bitcoin about a year ago it would be worth just under £2k now.

Picard

Picard

Posted
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How are you all getting on? Last week I finally got round to getting £1000 work of bitcoin (proud owner of 0.13 of a bitcoin), just for a bit of fun really. In a week I'm up £470. Approx £200 of that today, it's truly bonkers and a good laugh actually (as someone said above, up and down double digits on an hourly basis sometimes)! Giving Ethereum a swerve for now but if it drops to £250 I'll lump a £1000 on that as well.

 

Some of you early adopters must be laughing now (assuming you held your nerve)? Good effort if so! Anyone buying Bitcoin back in June would be approx 5x up by the looks of things?

 

What are you using? Coinbase?

Johnny Bognor

Johnny Bognor

Posted
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What are you using? Coinbase?

 

I use Coinbase. Simple to use. But you can only by Bitcoin, Ether and Litecoin. Trading in Ripple XRP is a little more complicated. I bought Ripple using my bitcoin account on Coinbase. Be careful of the "Exchange" rates offered from different platforms.

LGTL

LGTL

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I think you'd be a fool to invest at Bitcoin at its current price. The time was about 6 months ago when I and many other waded in.

Johnny Bognor

Johnny Bognor

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I think you'd be a fool to invest at Bitcoin at its current price. The time was about 6 months ago when I and many other waded in.

 

I got in early October at £3,295. It's now £11,759. A nice 357% return in little over 8 weeks. Obviously getting 6 months ago means you must be flying, as it was around £1,000. The current price is high and people are talking of bubbles, but the recent rise this week has been down to the Bitcoin Futures market opening up, as well as people (including financial services businesses) jumping on the bandwagon.

 

I've bought into Ripple, as this seeks to enhance existing financial markets, whereas Bitcoin, Ether etc seek to disrupt them. But at the end of the day, it is a gamble and you should only gamble what you can afford to lose.

OldNick

OldNick

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I see £64 worth of bitcoins were hacked from one of the exchanges. Am I correct that there are only 21m of them? and if so, as more people pile in the slice of each one you own becomes smaller as each coin is divided up to a fraction each time. Eventually the piece you own with be like a grain of sand, although that grain of sand will be worth a fortune. Its a bit like infinity, very hard to understand

suewhistle

suewhistle

Posted
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I'm old enough to remember the dotcom bubble. As ever there will be people who make money, but this looks horribly like another bubble. There's no transparency, no one to resort to if it all goes tits up, a lack of genuine income streams to justify valuations, and being talked about by the man in the street: that's any bubble you care to mention.

 

Although I've got a wodge of shares for a boring company whose product is used by all (trust me!) I don't call myself an "investor". They provide a decent dividend return which I've been reinvesting, although I'm getting to an age when I think I might as well spend a bit. I lost a bit on Southampton shares, but that was fun money, the same as allowing yourself a bit if you went to the casino. I wouldn't buy bitcoin except on the same basis, and I'd be looking to profit take very early and turn it into a new pair of skis or a meal out or whatever. As it is I have no inclination to put any effort or cash into understanding the market at the moment.

 

With any investment it's knowing when to sell and when to hold. If any of you did get in 6 months or earlier ago I'd be doing some profit taking on a proportion of the holding.

Millbrook Saint

Millbrook Saint

Posted
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I got in early October at £3,295. It's now £11,759. A nice 357% return in little over 8 weeks. Obviously getting 6 months ago means you must be flying, as it was around £1,000. The current price is high and people are talking of bubbles, but the recent rise this week has been down to the Bitcoin Futures market opening up, as well as people (including financial services businesses) jumping on the bandwagon.

 

I've bought into Ripple, as this seeks to enhance existing financial markets, whereas Bitcoin, Ether etc seek to disrupt them. But at the end of the day, it is a gamble and you should only gamble what you can afford to lose.

 

Have to agree about Ripple, I bought into Bitcoin a while back but am looking to buy some Ripple too, which market did you use for Ripple?

Johnny Bognor

Johnny Bognor

Posted
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Have to agree about Ripple, I bought into Bitcoin a while back but am looking to buy some Ripple too, which market did you use for Ripple?

 

I used Bittrex, but a right pain in the arse. I had to use Bitcoin from Coinbase to buy it. It's up to $0.29 from $0.24 a few days ago. 20% ish up in a couple of days

The Cat

The Cat

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Been reading a few articles about IOTA, could be a good one to go for now. I started buying Ether about 6 months ago so doing pretty well out of that as it stands today.

Plastic

Plastic

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I had a few litecoins which I bought in July, sold at £160 and moved it all into Ether, seemed like a decent return and Ether seemed like a better long-term option. Sadly, Litecoin didn't dip quite as quickly as I expected it to :)

 

Looking to get some ripple via gatehub, but the process is painful. I'm moving some bitcoin across to fund it, but after 4 hours I still have zero confirmations on the transaction, even with a 10% fee. This kind of issue is a real problem for bitcoin. Sure, you can sell it quickly (for a knock-down price), but its just not as liquid as it should be for p2p transactions.

OldNick

OldNick

Posted
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I had a few litecoins which I bought in July, sold at £160 and moved it all into Ether, seemed like a decent return and Ether seemed like a better long-term option. Sadly, Litecoin didn't dip quite as quickly as I expected it to :)

 

Looking to get some ripple via gatehub, but the process is painful. I'm moving some bitcoin across to fund it, but after 4 hours I still have zero confirmations on the transaction, even with a 10% fee. This kind of issue is a real problem for bitcoin. Sure, you can sell it quickly (for a knock-down price), but its just not as liquid as it should be for p2p transactions.

http://www.hl.co.uk/news/articles/bitcoin-three-things-to-consider One thing is for certain, the small investor is the one who will end up with nothing if their is a major fall. The people in the know will be the first to save their position, by the time the smaller person can get to the market it will be at the floor.
OldNick

OldNick

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http://www.hl.co.uk/news/2017/12/121/bitcoin-futures-are-here-adding-speculation-amid-volatility-and-all-time-highs Ive been reading quite a lot out of interest regarding this product, and it just doesn't add up to my old mind.

It seems to me that it is a lot of people without knowledge or understanding throwing money in as it looks like a get rich quick scheme.

I see a few on here playing the game, and I really hope it works for you all, but what basis is the currency based on???

OldNick

OldNick

Posted
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Just looking back and Convict Colony has been pretty spot on with his assessment that Ether would be near 800 at the end of the year today it is around $728

Plastic

Plastic

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http://www.hl.co.uk/news/2017/12/121/bitcoin-futures-are-here-adding-speculation-amid-volatility-and-all-time-highs Ive been reading quite a lot out of interest regarding this product, and it just doesn't add up to my old mind.

It seems to me that it is a lot of people without knowledge or understanding throwing money in as it looks like a get rich quick scheme.

I see a few on here playing the game, and I really hope it works for you all, but what basis is the currency based on???

 

Appreciate the concern. All my BTC comes from mining, so a fixed cost of £500 around a year ago. Everything else has been bought off the back of that. I'm certainly not spending any more of my own money on it :)

In terms of ripple/ether, its a punt, however the moves by Amex / UBS, plus the Ripple escrow move make them both interesting.

 

https://www.coindesk.com/ubs-launch-live-ethereum-platform-barclays-credit-suisse/

https://www.influencive.com/amex-ripple-partner/

https://www.finextra.com/pressarticle/71956/ripple-completes-xrp-lockup

shurlock

shurlock

Posted
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I do wonder if you have the choice, a lump of gold in your hand or a bit of cyberspace?

 

Sounds like you want to get feet wet but using your own procrastination and hesitation as reasons not to do anything, concluding that the longer you leave things, the greater the likelihood that you've missed the boat. Yet you're still tempted.

LGTL

LGTL

Posted
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Are there any good alternatives to Coinbase? Been trying to signup this week but they're having issues with ID verification.

 

Plus500 is very good for short term trading of crypto, including Bitcoin and Ether

OldNick

OldNick

Posted
Posted
Sounds like you want to get feet wet but using your own procrastination and hesitation as reasons not to do anything, concluding that the longer you leave things, the greater the likelihood that you've missed the boat. Yet you're still tempted.
Ive spent over 40 years ducking in and out of things. Its been my living. Judging an items value making a profit and moving on. So Ive never been frightened of taking a gamble.

I have watched and read with interest, and put forward reasons for others to be careful. I'm not looking to go into this market as I missed the boat, as I didn't understand the product (and still don't).

My nieces partners both have plunged in and I have warned them to take their profits, but they have faith. They can deal from their phones and watch the price go up and up as they plough a little bit more in.

At present Uncle Nick has got it wrong in their eyes, I hope I have for their sake.

shurlock

shurlock

Posted
Posted
Ive spent over 40 years ducking in and out of things. Its been my living. Judging an items value making a profit and moving on. So Ive never been frightened of taking a gamble.

I have watched and read with interest, and put forward reasons for others to be careful. I'm not looking to go into this market as I missed the boat, as I didn't understand the product (and still don't).

My nieces partners both have plunged in and I have warned them to take their profits, but they have faith. They can deal from their phones and watch the price go up and up as they plough a little bit more in.

At present Uncle Nick has got it wrong in their eyes, I hope I have for their sake.

 

Was it Charles Kindleberger or Robert Shiller who said that when your next door neighbour or the taxi driver starts talking up an investment, you know you’re in mania territory?

OldNick

OldNick

Posted
Posted
Was it Charles Kindleberger or Robert Shiller who said that when your next door neighbour or the taxi driver starts talking up an investment, you know you’re in mania territory?
The whole thing is very clever, they come up with phrases that make you think there is substance 'Mining' the bitcoin logo of a $sign on a gold coin, just gives it something. It really should be a load of coding and a jar of air
buctootim

buctootim

Posted
Posted
Ive spent over 40 years ducking in and out of things. Its been my living. Judging an items value making a profit and moving on. So Ive never been frightened of taking a gamble.

I have watched and read with interest, and put forward reasons for others to be careful. I'm not looking to go into this market as I missed the boat, as I didn't understand the product (and still don't).

My nieces partners both have plunged in and I have warned them to take their profits, but they have faith. They can deal from their phones and watch the price go up and up as they plough a little bit more in.

At present Uncle Nick has got it wrong in their eyes, I hope I have for their sake.

 

The only certainty is that it will go pop very loudly and very quickly eventually. Those were both smart and lucky will have cashed out by then, the rest, well.....

Plastic

Plastic

Posted
Posted
Was it Charles Kindleberger or Robert Shiller who said that when your next door neighbour or the taxi driver starts talking up an investment, you know you’re in mania territory?

 

Joe Kennedy famously sold all his stocks pre '29 crash after the shoeshine boys started giving him stock tips.

Plastic

Plastic

Posted
Posted
The whole thing is very clever, they come up with phrases that make you think there is substance 'Mining' the bitcoin logo of a $sign on a gold coin, just gives it something. It really should be a load of coding and a jar of air

 

During a goldrush, the winners sell picks and shovels. Coinbase charge a minimum 3 euros per transaction. No one cares because they are all 50% up on last week, but I'm sure it adds up!

Convict Colony

Convict Colony

Posted
  • Author
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Whoop this thread is still going, good stuff.

 

Coinbase transactions guys, do not use the main site to buy BTC/ETH or LTC as you have all stated they charge big fees to do so.

 

Instead use GDAX exchange, you do not need to open an account there as coinbase own it, you can deposit and withdraw from your coinbase account instantly on there and you pay hardly any transactions fee's.

 

If your new to all this then try and ignore the bitcoin noise, Eth and Bitcoin are completely different.

Eth has massive amount of new updates coming out from Jan (including Eth futures) and if you look at the graph over the last 2 Jan's there has been a massive pump in the price.

 

I always think of bitcoin as myspace and Eth as facebook, not in terms of usage but more in terms of 1st to the market v the long term solution.

 

If you do chase the pump then make sure you set stop losses on your exchanges, do your own research on coins and only invest what you can afford to see reduced.

 

Good luck and some useful sites to read up on:

 

I buy my altcoins here https://liqui.io/

 

GDAX site for ETH/BTC and LTC - https://www.gdax.com

 

If you want to learn about technical analysis on charts try chart school - https://stockcharts.com/school/doku.php?id=chart_school

 

A good daily forum for talk about the price (take guidance at your own risk) https://www.reddit.com/r/ethtrader/

 

If you want to know why Proof of Stake will result in a price increase in ETH and pay dividends when it is implemented read up on it here https://medium.com/@karthik.seshu/cryptocurrency-proof-of-work-vs-proof-of-stake-e1eee1420b10

Convict Colony

Convict Colony

Posted
  • Author
Posted

Also agree with the BTC potential popping theory.

 

To send it anywhere costs a fortune, takes ages due to transactions backlogged as it hasnt been built to handle the amount of transactions it currently has and it also is always at war with the foundation v the miners (majority are Chinese) who are trying to turn bitcoin away from a decentralised network into a centralised one (they own the vast majority of mining machines).

 

This has resulted in lots of forks of which Bitcoin Cash is being kept afloat by the same Chinese machines that what it to become the new bitcoin, they are just waiting for bitcoin to die.

The Cat

The Cat

Posted
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I've been moving into to alts over the past few weeks. Traded all my bitcoin and some eth into smaller coins that seem to have potential. Currently got 9 different ones. Some have been performing well even in the crashes. Certainly makes it more interesting than just having 2 coins.

Convict Colony

Convict Colony

Posted
  • Author
Posted
I've been moving into to alts over the past few weeks. Traded all my bitcoin and some eth into smaller coins that seem to have potential. Currently got 9 different ones. Some have been performing well even in the crashes. Certainly makes it more interesting than just having 2 coins.

 

Nice I have the following in my portfolio aside from the biggies:

 

OMG

BAT

UKG - new one for me recently as the coin is there to be used in eSports betting which is predicted to grown in 2018

Stox

OldNick

OldNick

Posted
Posted
Nice I have the following in my portfolio aside from the biggies:

 

OMG

BAT

UKG - new one for me recently as the coin is there to be used in eSports betting which is predicted to grown in 2018

Stox

Why don’t you set one up as it seems there are no regulations in doing so?lol I assume it it is difficult and costly to develop.
The Cat

The Cat

Posted
Posted
Nice I have the following in my portfolio aside from the biggies:

 

OMG

BAT

UKG - new one for me recently as the coin is there to be used in eSports betting which is predicted to grown in 2018

Stox

 

I have OMG, UKG sounds interesting so I will look into that because eSports is becoming pretty big.

ICX has done well for me the past few weeks although pretty much all alts are down today. Traded a couple of mine in for XMR which seems to be the best privacy coin. All those drug and weapon sales on the dark net can only help push it higher once everyone gets fed up with Bitcoin and it's outrageous fees.

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