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I was being slightly facetious. But then I don’t know how much (excess?) energy that Canadian geothermal plant is producing
No such thing as excess green energy, if someone buys it, someone else will generate more leccy from coal to supply the user who would have used the geothermal energy at a lower price. All that happens is the deeper pocketed companies who want to green wash their activities buy all the green energy credits (whilst actually using the same energy mix as everyone else as they're all on the same grid). So Google etc buy all the green credits whilst running their server farms on coal (in the US) and are officially 'carbon neutral'.
AIUI most of the bitcoin mining takes place in China running in provinces predominantly using coal to generate electricity.
Well, the money had arrived in my Kraken account! Just need to decide what to buy with it.
I have a good record of buying at a peak, watching the immediate slump wondering what the hell I'm doing & then waiting for ages for things to recover.
This should be interesting! I've done a bit or research, but plenty more required.
Just need to decide what to buy with it
Maybe look at TRX which you can stake and earn extra tokens if you freeze them.
Not trading advice,works for me and earns around 20 free tokens a week.
https://www.ledger.com/staking-tron
beiciwr64
Just need to decide what to buy with it
Maybe look at TRX which you can stake and earn extra tokens if you freeze them.
Cheers. I have looked a bit at staking & am gonna do some more research on that tonight.
I am not intending to be short-term trading, so looking at medium to long-term gains.
Been reading a bit more about crypto lately. Going to bin off my (admittedly small) investments over the next month or so I reckon - in the same way that I don't really want to invest in defence or fossil fuels, I don't really want to be supporting crypto either. And I'm pretty sure there's a sizeable correction in the post.
Stuff like this drives it home just how much of an environmental shitshow it is:
And stuff like this makes me worried that there's a gigantic scam in operation and if it collapses then the whole house of cards will fall down
Is Tether both propping up crypto, and a complete scam
I am not intending to be short-term trading, so looking at medium to long-term gains.
I am by no means an expert, and have only been reading up on this stuff for a couple of months. But I think it would be prudent to tread very carefully and take profits where you can....
I'm taking a mixed view, BTC & ETH I'm just looking at mostly short-term and riding the rollercoaster (gambling), buying and selling to make small bits of profit.
But I also have some money in even more speculative crypto (mostly XRP & IOTA) which I'm planning to leave for a few years until it fails or moons (losing it all completely would sting but wouldn't put me in financial difficulties), taking the short-medium term gains on that just risks looking back in a couple of years thinking if only I'd held onto it all I could have retired... :p
The current Doge price. Has Elon lost control of his vanity experiment? Will he regret it if it comes crashing down? (If it crashes???)
Or will it become the primary currency of Mars?
At some point, people are going to question the ethics of an industry that produces 130million tonnes of CO2 a year, for no tangible reason
And stuff like this makes me worried that there’s a gigantic scam in operation and if it collapses then the whole house of cards will fall down
Calling it an industry is a stretch IMO! Agree with the "no tangible reason" point, I've yet to hear a convincing explanation of the positive contribution crypto makes or could make to the world. Although arguably the same could be said for some of the more convoluted aspects of 'conventional' investing I suppose.
I can't help but feel that both are symptoms of a financial system which is increasingly becoming detached from the intrinsic value associated with producing things that people need or want. I'm not sure if this is a problem, but it has a bit of a "last days of Rome" feel about it to me...
I'm not looking at Doge anymore - I thought my 200% profit a few weeks ago was a result. I'm definitely into Bullseye 'look at what you could've won' territory now! 🙂
ETC has gone berzerk!
Is anyone looking at Filecoin? It sounds like it has the potential to become very useful, given that its currency is based on actual tradeable units (physical secure hard drive storage space distributed across the Internet), but it doesn't seem to be a particularly good thing to invest in unless you're someone who owns a lot of spare storage space, in your server farm or whatever. But then, even that is better than something entirely arbitrary like Bitcoin... I am not an expert, as this post may show.
It's all gone a bit crazy & will teach me for procrastinating.
I said I was going to set-up an account in Feb & if you look into the gains across a lot of the currencies since then, many have doubled.....Etherium has doubled, Dogecoin has gone up by a factor of 10, Litecoin almost doubled.....
I bought £100 of Bitcoin last Fri & £100 of Etherium. Yesterday while looking at the Etherium chart, I thought I saw a good dip in the market to get in & make a short-term gain so bought some more. But, that quickly went awry & rather than particularly losing money it has gone sideways since then.
My strategy is to buy regularly (perhaps £100 a month), try to buy into a few different coins to diversify & continue to research to understand the market more & why things are shifting around, as they are.
But, if it becomes clear that I am clearly not buying at the right time or making bad choices I will not keep throwing money in.
I realise that this is perhaps not going to give me the massive returns that some people have managed to achieve by getting in years ago. I applaud their ability to take on what i would have considered too much of a risk.
But, as mboy has said a few times in this thread - what if it becomes the next big thing? What if in 10 years time, the £1000 I will invest over the next year or so (and more going forwards if things work well) becomes £10,000 or £50,000 or.....?!
If it goes to £0, I'll be a bit miffed but it is a risk I understand, can afford & am willing to take. I'd be more annoyed if I do nothing & then in 10 years look at the prices of cryptocurrency & think 'ah, if only I'd have bought some we could have paid the mortgage off/paid for my daughter's university fees/bought a motorhome......
I was going to invest in filecoin, figured long term it be a sound investment. It was £50 when I looked. Thought I'll put a couple of ton on when I get paid. It was £160 when I got paid!! Too late 😝
@richardkennerley I thought along similar lines... it's currently around £106. :/
If it goes to £0, I’ll be a bit miffed but it is a risk I understand, can afford & am willing to take. I’d be more annoyed if I do nothing & then in 10 years look at the prices of cryptocurrency & think ‘ah, if only I’d have bought some we could have paid the mortgage off/paid for my daughter’s university fees/bought a motorhome……
@stumpy01
Stop losses are your friend. Set stop losses and move them up when prices rise.
ETC has gone berzerk!
I'd just like to correct this: it's way past berserk now. What's going on?!
Another question, assuming current trajectory, stripes or not for a Pista?
I've only just started playing around with small bits of crypto, so know very little.
I’ve yet to hear a convincing explanation of the positive contribution crypto makes or could make to the world.
What do you think to projects like Cardano?
https://www.coindesk.com/from-paper-to-cardano-blockchain-iohk-in-ethiopia
I got a chunk of filecoin in Jan. It went up to about 10x recently, but dropped to about 7x now. One of my better selections. 👍
I think I was lucky as I invested into Ethereum and within a few hours the price had tanked to around half my investment, instead of getting scared I did the opposite and doubled my investment around £100 and it soon paid off.
Now with money spread over 4 different ones inc Doge which is volatile but it’s a quick money earner or can be and when you’re playing with profit it makes it even easier...it does seem so much easier to just watch and invest... I sold profit from one recently for euro’s and then saw that gradually dwindle so ploughed it back into one.
I’d almost rather risk it making a bigger loss then a hefty gain than a gradual decline with it being in euro’s !!
Needless to say from an initial £50 outlay, after a few investments to £400 it’s currently close to £1000 so as I say I think I’m just lucky at the moment!
If you want to make a decent passive income from it, look into defi yield farming. You can get upto 25% APY returns on stable coins that are pegged to the dollar so not much volatility in price. Much better than money being sat in a savings account earning max 3.5%. You can then compound your interest by claiming your interest and re staking. You can currently get 87.5% APR on USDT-BUSD LP Staking on Wault Finance which is on the Binance Smart Chain again claim your rewards and restake to compound your interest.
My strategy is to buy regularly (perhaps £100 a month), try to buy into a few different coins to diversify & continue to research to understand the market more & why things are shifting around, as they are.
The problem is backing the right horse. According to Coinopsy there are over 2,000 Dead Coins which are cryptocurrencies that have either been abandoned or have turned out to be scams.
reading this makes me think of some quote from the 1920's, "when i get stock advice from the shoe-shine boy, I know the market is massively over priced"
Is crypto the next big crash waiting to happen? its a bit of a mad panic!
What do you think to projects like Cardano?
https://www.coindesk.com/from-paper-to-cardano-blockchain-iohk-in-ethiopia
/blockquote>Looks like an unnecessarily complicated way to not solve a problem, But hey, blockchain, so got to be good obvs.
Is anyone looking at Filecoin?
So as well as graphics card prices going through the roof we're now going to see disc storage prices take off. What's not to like.
Is crypto the next big crash waiting to happen?
Yes and no, it's ripe for a crash (entity with zero intrinsic value worth billions), but it's not big enough to affect the markets in general / crash the economy, the 'man in the street' isn't going to notice if they all vanished tomorrow.
continue to research to understand the market more & why things are shifting around, as they are.
I'm impressed you think you can actually 'research' that, or do you just mean watch a load of Youtube videos promoting various coins, all presented by people who own that coin and directly benefit by encourage as many people as possible to up the price...
footflaps
I’m impressed you think you can actually ‘research’ that, or do you just mean watch a load of Youtube videos promoting various coins, all presented by people who own that coin and directly benefit by encourage as many people as possible to up the price…
Probably a bit of both.
For example, this: https://www.sec.gov/news/press-release/2020-338
put me off putting any money against Ripple until I understand what 'that' all means.
It's early days for me & I really have very little understanding of the market & the offerings as a whole. This is why I want to do more research. Yesterday evening I listened to a very interesting podcast that explained bitcoin, block-chain etc, how it all works & the ideas behind it while taping a wheel ready for sticking a new tubeless tyre on. I'll probably listen to it again in a few days, as I missed certain bits while concentrating on getting the rim taped up smoothly.
I have basically stuck my foot in the door at the moment. If I look into it further & decide it's not for me then I will just get rid of what I have & that will be that. it's no big deal.
99% of the youtube vids are nonsense
one says it's really easy... buy low sell high... yeah well duh!
another is a rabid Trump fan that believes the world is about to end because "the liberals" stole it.
others doing technical analysis on the shape of the curves either don't know what they are talking about or just making it up, or spotting 1 wick on the candle chart as a position of support.
There's only about 1 channel I've found where he actually talks about actual research, about the actual project behind a coin, and the actual conventional business/government uptake or contracts with certain cryptos/blockchains, etc. etc.
Ultimately that's going to end up as BTC, ETH, Cardano/Polkadot/Chainlink etc. and a few lower cap ones. XRP maybe once it's sorted the SEC hoo har.
If Visa International does business deal about processing transactions on Ethereum blockchain, that is a positive signal to me. A few candle wicks going through a 618 fibonacci level does not. Saying that, a friend flogged a load of Doge (bought for naff all) and paid off some loans. And then the price jumped again so still ended up with more paper $ than before selling a wodge.
What I find fascinating is that every time there is an article in the news about a bank / government looking at implementing blockchain in some way, the price of Bitcoin etc go up. When really they should go down as they are talking about implementing their own blockchain implementations which mean it is less and less likely that Bitcoin etc ever end up being used as a currency. I'm pretty sure we'll have a lot of blockchain based currencies in the future, but I'm also pretty sure that not a single one of them will be one you can buy now as all the properties of the current speculative coins today pretty much guarantee they are totally unsuitable for the future. The fundamental property of a currency is stability and they normally devalue slightly over time. Anything which varies wildly in price is totally innapropriate.
It has again but in a different direction....
Anyone sell much ETH at the peak?
I sold some at 3k but only a tiny bit.
Whatch'all doing?
Dumpingvit all or buying in on the slide...
Can't decide..
Keeping in, but not putting any more on the table - I'm at maximum 'happy to lose' amount! (Which is still over 50% up on a month ago, which shows how mad this all is)
Edit: And why am I now a free member?!
Nope - I'm keeping Etherium and just adding to it. That's my 'banker' long term currency.
It needs to drop a bit more before I buy more though.
And I see Mr Musk has killed Bitcoin today! 🙂
He also seems to have killed coinbase...
Anyone else unable to open the app?
And I see Mr Musk has killed Bitcoin today! 🙂
Time to get buying then
I've only got a few hundred invested at the moment and don't intend to take anything out for the moment.
I do seem to have a knack of missing potential profits by procrastinating over whether to buy or sell....I was gonna buy a hundred quid of aave the other day but ummmed and aaaahed. My finger was on the buy button, but I decided to leave it until tomorrow.
The next day it went up by 30%...
My whole approach to this has been little and often.
Every time there's a significant dip I'll buy some more, but not spending massive amounts, just looking to keep building it up. I certainly don't imagine getting rich off of it, more of a little pot of money for fun stuff.
Or he's just made it cheaper for himself.
Isnt it time Musk was sanctioned for manipulating the market?
And I see Mr Musk has killed Bitcoin today!
For a supposed genius, he took a long time to realise what everyone else had been saying for years. Still, right result in the end, the faster BC is killed off the better for everyone.
Wish the big dips would wait for payday lol....
(yes I know I shouldn't be investing if I need to wait for payday).
Oh ****ity **** **** ****
I've always had a benign dislike of the Coinbase Pro UI. It really is a piece of shit.
However that benign dislike has now turned into a deep loathing having just bought a [thankfully small] chunk of ETH at a price of £25,000 🥵😝😩😫😈😈😜🌃🤣
I don't actually know exactly how much I spent as the interface is so shit, but someone picked up an absolute bargain.
Was it any of you lot?
I’m out as of today.
Punk tells his millions of fanboys to invest in BTC knowing most in US are following blindly, can’t afford it or are doing so on credit > Then trashes it knowing he has influence to disrupt the market.
1: don’t quite get the difference between him and Jordan B outside of regulation not being up to date. Pump & dump over multiple crypto currencies over the last year. 1st couple of times you can give the guy the benefit of doubt, three times though…
2: If one punks tweet can crash BTC value by years of inflation on fiat in a single day then pfff to any claims of store of value or protection against inflation. What’s going to happen when a viable threat hits it?
Eth gas fees are a joke. Eth market also open to manipulation beyond a reserve currency right now. Compare to faster payments.
Hardly pump and dump when he also states "Tesla, he added, will not be selling any of the Bitcoin it owns, with the fair market value of its holdings as of March 31 was 2.48 billion dollars (£1.76 billion), according to securities filings."
They have publicly announced selling 10% of their holding. No idea what has happened to the rest or how long they have to report trades if they have made / make them. Fair, maybe not straight pump and dump but there is an agenda being played here and what looks to me like a market being manipulated. I am not sophisticated enough to have any idea if I'm on the right side of whatever is going on.
Right now I'd be more upset if STW wasn't here tomorrow than I would BTC.
Have you only just noticed it's volatile? 😂 If I'd 'invested' in it, Elon's funny business would be the least of my concerns. I can't see why everyone's getting annoyed with him. Haven't they made enough free money already?
What is the best tool to buy this through. Been meaning to have a play for a while and now is as good a time as any to play with a bit of spare money?