How do you decide which crypto currency to buy?

Doesn’t bitcoin basically behave like a 4X leveraged Nasdaq now?

Doesn’t bitcoin basically behave like a 4X leveraged Nasdaq now?

It did but it looks like it’s decoupled now. Just not in a good way.

😀

hows everyone feeling? still buying in?

Someone I know has BTC buy orders set for 19K, 14K and 8K. She has also removed all funds from Nexo, Crypto.com and any other DeFi platforms for the time being.

The next week or two is gonna be pretty interesting though! Looks like Celsius is done, 3AC might be next, and who knows after that?

Free money bonanza for all! Buy now and triple your money GUARANTEED.

I’m hearing a lot of people shouting buy now! Never going to be cheaper! etc etc… but then, if you hold BTC you would say that wouldn’t you? To big it back up.

Musk will pump it up again 🤣

I’ve changed all my altcoins to ETH and BTC, seem (slightly) less likely to go to nothing.
I’ll keep putting beer money in and see what happens in five years time. I’m fully aware that just buying beer may be a better use for it.
I’m also spread over Coinbase, Binance and Blockfi just in case one of them goes tits up.

Anyone enjoyed the EVMOS airdrop? Currently my biggest bag and keeping me from going further than 50% down. Buying small amounts of mostly ATOM sometimes ADA monthly mostly timed with dips, bringing the average price of my bags down. Staking & compounding. Still just beer money amounts.

Andrewh – BlockFi might be looking a bit wobbly. They have suddenly laid off 20% of their staff, and may well be exposed to 3AC and Celsius. Have a read of this thread:

https://mobile.twitter.com/SteveWoodUS/status/1536816756978864129

AIUI, as they are exchanges your dosh should be safer in the other two. But it would be safer again in your own wallet.

Here’s another thread musing about exchanges and the risks of them crashing, for anyone who is interested:

https://mobile.twitter.com/davidgerard/status/1537122155347038214

Thanks for the heads up Doris, might be worth getting a proper wallet.
I’ve only got half an ETH and about 0.02BTC with them but even so

Move it a wallet

Not to labour the point but I think I would definitely move my stuff out of BlockFi! Seeing more and more stuff like this now:

– BlockFi made loans to 3AC
– BlockFi has 19K ($4B) BTC locked permanently in GBTC
– Outflows from BlockFi over $45M today
– Someone dumped tons of GBTC at market close
– More in reddit post

Translation: BlockFi is nexthttps://t.co/ujrxqN9kfM pic.twitter.com/yuxcl73F1Z

— Michel de Cryptadamus (@Cryptadamist) June 16, 2022

I’ve ordered a hardware wallet, should be here next week.
In the meantime I’ve requested a withdrawal from Blockfi to Coinbase. Will move everything from CB to the wallet when it arrives, put it in a drawer and forget about it for a few years and then either buy some donuts or clear my mortgage, depending on which way it goes.
.
The Blockfi withdrawal said sent for review, which I assume is quite normal…? I am aware that by doing that I’m just adding to whatever problems they may be having

Quick update for anyone else thinking of withdrawing from Blockfi.
Requested withdrawal yesterday lunchtime,converted everything to ETH so only one withdrawal to reduce fees.
Email at lunchtime today wanting me to send a picture of photo ID and to smile at the camera.
Received in my Coinbase account this evening, so about 30hrs all in.
I suspect I am dealing with considerably smaller sums than that chap on the twitter up there ^ though.
.
Hardware wallet has arrived, just need to figure out how to work it. Got one for £25, which at the current rate will be worth more than the contents by this time next week🤣🙈

I don’t.

I’ve always thought cryptos were to be avoided; every day convinces me more that I’m right.

YNGMI!

I’ve always thought cryptos were to be avoided; every day convinces me more that I’m right.

I can see that when it dumps you would think that. However, everyday it pumps do you sit there thinking, ‘I’m wrong!’

Do you have a Trading View account set up with alerts at various price points so that you can monitor the days when you’re right and the days when you’re wrong?

Are you like the some people who have posted on this thread whose happiness is literally inversely correlated to the BTC price so the more it dumps the happier they get (they never confirmed this but presumably the more it pumps the sadder they get)?

I mean, I’ve got some money in crypto but even I don’t let the price affect my mood or use it as some sort of gauge about how correct I am.

Anyway, thanks for the insightful contribution!

I looked at hardware wallets – I think there’s more chance of me losing all my money trying to transfer to one of those than Kraken going down! 🤣🤣

And even if I did transfer OK it I’d then lose the wallet!

Worth noting that a hardware wallet doesn’t store the crypto itself. It just stores the keys to access it. You don’t need a hardware wallet to move your crypto out of an exchange. You just need to store the keys somewhere. It can be on a piece of paper…

I can’t see that it has been mentioned, but would PayPal be a safe place to have a dabble with Bitcoin/Etherium? Not talking large sums, just something to dabble with?

I can’t see that it has been mentioned, but would PayPal be a safe place to have a dabble with Bitcoin/Etherium? Not talking large sums, just something to dabble with?

As long as you dabble with what you can afford to lose PayPal, Revolut or BingX would be okay.

Always have this approach.

It can be on a piece of paper…

Maybe stored under your bed? Is this seriously the future of money? 😀

put it in a drawer and forget about it for a few years

And then your wife chucks it out thinking it’s junk 😀

Remember also that hardware doesn’t keep data for ever.   Hard drives were good for about 10years so if you were using them for long term storage you would have to refresh them.  SSDs (or devices based on the same technology) are good for about half of that although the minimum spec for a consumer device is 1 year.  Most devices from a good manufacturer will last wayyyyy longer that than though.  There is a good chance you won’t have any issue but not a chance would I trust my cash to a single device.  At a minimum have two copies

I would print the keys (twice)

Are you like the some people who have posted on this thread whose happiness is literally inversely correlated to the BTC price so the more it dumps the happier they get (they never confirmed this but presumably the more it pumps the sadder they get)?

This is me! Cryptocurrency preys on the financially illiterate and the desperate. It is literally a negative sum game. The sooner this shit burns to the ground the better.

GTFO while you can 🙂

Are you like the some people who have posted on this thread whose happiness is literally inversely correlated to the BTC price so the more it dumps the happier they get (they never confirmed this but presumably the more it pumps the sadder they get)?

You say this like we’re supposed to feel ashamed or insulted?

Yes it makes me happy that the price crash is cutting bitcoin mining’s carbon footprint by the size of whole countries each week at the moment.

**** the rich, save the planet.

Made a substantial amount and cashed out a few months ago, but watching the current situation with interest. It’s bloody and plenty have lost their shirts so it seems. I still have a spread of a few coins, but not looking at putting more money in just yet…

I have never had any trust in putting money in crypto, so put it in stocks and shares instead.

Sadly these have gone through the floor too!

This thread has gone as dead as the Crypto market! Have you all bailed out? 🙂

Nope, my 3commas BTC-ETH grid bot is ticking along quite happily.

I stopped working on my own bot for a while because I’m working on a CAD project but I’m sure I’ll get back to it eventually.

Nope. Still putting a reasonably small amount aside at the end of the month & then buying some crypto with it.
Hoping to become a crypto millionaire before Lambo stop making internal combustion engined cars (it’s a joke, I’d probably get a Porsche). Plus, I need some way of affording an e-bike when my knees eventually give up.

Come on everyone! Buy in so stumpy can get a Porsche or an ebike. Keep the dream alive.

Come on everyone! Buy in so stumpy can get a Porsche or an ebike. Keep the dream alive.

….I’m hoping it will fund a nice electric rise and recline chair – and maybe even a big slipper!

#retirementgoals

Actually, it’s been trending upwards for the last month or so.

Saying that, I reckon it’s going to dump again this weekend if it’s not already started.