cryptocurrencies

Status
Not open for further replies.
Yank said:
Yea I'm not reading all that. I'm genuinely happy your up.

You said something about making 30% from the bank. I'll stand by you don't understand investing if you think you're ever getting that return on a savings account or even a cd these days.

As for me saying to the other guy that's stupid. It is. If it's an amount of money you don't care about as you said, that's fine. But lost money is lost money. I'd rather you get the money out you put in and then let it ride.

His think long term thing was just dumb in my opinion.

Goodluck with it. Genuinely mean that. Bull in a china shop lol whatever my guy
Click to expand...

WTF !!
 
Yank said:
Yea I'm not reading all that. I'm genuinely happy your up.

You said something about making 30% from the bank. I'll stand by you don't understand investing if you think you're ever getting that return on a savings account or even a cd these days.

As for me saying to the other guy that's stupid. It is. If it's an amount of money you don't care about as you said, that's fine. But lost money is lost money. I'd rather you get the money out you put in and then let it ride.

His think long term thing was just dumb in my opinion.

Goodluck with it. Genuinely mean that. Bull in a china shop lol whatever my guy
Click to expand...

Yep you can't help yourself can you.
 
The binman chronicles said:
It just seems that you've come into this thread like a bull in a China shop, throwing words like stupid/don't understand, which believe it or not only serve to wind people up unless they hadn't thought of all the posibilities/consequences already.

So it appears you might not be following what we've said. The amount I have put in is small. Actually I had a fair bit more to start with (around £500 and my average LTC coin was up in the £90's) but as it started to go south I sold some, moved some around, made smaller gains, sold the rest to get back near as dammit to a net zero. I then left it a while and bought back in at what I considered reasonable as it was still falling and pretty much I picked mine up for just a little over the lowest value this year, meaning I have got more coins for less total cost.

The values since I last posted have dropped from mid £40's to mid £30's but seeing my buy in was at low 20's I don't care what happens here on in. At somepoint if they went up enough to sell one and that would clear the initial investment and leave me playing with house money then I might consider it, but I'm not really that bothered as I'm talking less than a couple of hundred pounds. Is that worth the potential gains? Probably not to me - unless I sink more in which I don't have any plans to at the moment.

What you say is fair enough but it's that risk vs reward and how much money you've put in, which is all on an individual case by case basis. My sub £200 that I'm not bothered about might be £2000 for someone else, once you start to care about that momey then your advice rings true. I could call mine a few nights out I missed during lockdown so I am playing with my own house money anyhow.
Click to expand...

Things are beginning to get interesting in crypto now.

There are a large number of institutions who are now in the space trading with one another + the exchanges.

In my experience, when brokers, prop shops, hedge funds and banks pump cash into a market then theres only one way its going....forward.

I can name well over 100 companies i know personally now with senior management who have pivoted over from traditional financial markets.

Its something i will be involved alot more with due to client demand.

In terms of your own trading, youve taken a punt well under current market price and are happy to sit on it.

Some 'take it or leave it' advice...commissions on exchanges or through OTC desks are the same as in FX...high. the spreads are the same as in FX 20 years ago...wide.

Make sure that you find the best counterparty to trade with in terms of regulation, senior management, low commissions and tight spreads...
 
You won't get a successful drug dealer that won't accept crypto currency... They will happily post it by the varied delivery companies these days, as long as crypto is payment...
 
When are you all going to give up calling the currencies?

The only thing these crypto currencies buy are other actual useful currencies needed to actually purchase goods and services.

What you have is an imaginary commodity that you're holding onto as a store of wealth for the next greatest fool. Nobody is actually using the technology as a currency and it isn't actually being adopted outside of drug dealers and pedophiles. Anyone who owns bitcoin should be on a list with them.
 
Efcjake said:
When are you all going to give up calling the currencies?

The only thing these crypto currencies buy are other actual useful currencies needed to actually purchase goods and services.

What you have is an imaginary commodity that you're holding onto as a store of wealth for the next greatest fool. Nobody is actually using the technology as a currency and it isn't actually being adopted outside of drug dealers and pedophiles. Anyone who owns bitcoin should be on a list with them.
Click to expand...

you sure aboout that Efcjake?

thenextweb.com

Bitcoin whale moves $310M cryptocurrency fortune — for just $0.32

A Bitcoin whale recently moved 44,000 BTC - a stack worth over $310 million - for a tiny transaction fee of 32 cents. Sucked in, banks!
thenextweb.com thenextweb.com
 
Connor said:
Scam
Click to expand...
Not necessarily, more just very risky. Significantly more like gambling than most investment products due to the volatility and lack of regulation.

Still I’m not very comfortable with tonnes of people shouting it’s praises and making it out to be a sure fire way to earn money, always remember it’s like gamblers - you hear about the wins, not the losses
 
treer said:
@Zatara
Coinbasepro spread is 1 cent, with a 0.5(at most)fee

how does Fx compare for traders
Click to expand...

Is that 1c for the smallest transaction available?

What would be the spread on USD/BTC at 50 coins? I havent looked at Coinbase, some of the other exchanges show tens of dollars spread by aggregating multiple levels on the order book and its unlikely to see 50 size.

The bps they charge is the killer, i'd say on 50 BTC size probably ranging around a couple of $ spread and a handful of bps is what i see as an all in cost.

On FX EUR/USD from -0.1 to 0.3 general range up to $3mil a side, then on GBP/USD its usually 0 spread for up to $5-9mil a side. Then around $10 per mil commission.
 
Status
Not open for further replies.

Welcome

Join the Everton conversation today.
Fewer ads, full access, completely free.

→ Log in 🔑 Register
🛒 Visit Shop

Support Grand Old Team by checking out our latest Everton gear!
Back
Top