Cryptocurrency

[motoukenin]

Cryptocurrency is extremely volatile, have the money to loose before you go anywhere near it.

[Drei]

Ether was one of the main ones I didnt do.

BTC, XMR, XRP, LTC, DOGE, SIA

They should keep you up. BTC alone is gone to $3000 again. LTC up by $10 ($50 by July most likely, seems to be a nice steady stable going no huge spikes)... if you hold you tend to be better of, then sell when you want to. Lots of people sold BTC when it hit the $100 or the $300 thinking that it would never go higher, made their fortune and now wish they held. How long do you hold for?


I am all mouth not much action, still standing on sidelines, did not end up buying but I did try to do so on 27th. Best buy was last weekend on Saturday the 27th May. Everything crashed down. If you got any coins then you will definitely be up in profit.

Playing with £500 not gonna do much. £500 in each currency maybe. That's hoping that the currencies sub £1 got o the moon, bear in mind all of the $20+ currencies were sub $1, early investors made huge profits. Remember these coins pretty much circulate the same set of hands. Contrary to what Scoot may say the big players do own the majority and they control the market. You just need to sell before they start putting up buy/sell walls.

Should have started trading coins last December, now you would have a nice portfolio worth over 100k.


The main issue here is not when to sell but when to buy. Like Scoot and others we would probably hold the coins for future profits, 1 year plus. That's a guaranteed increase in profits. It's the daily traders that screw things up. You need a nice pump so you can buy right afterwards.

[psychocandy]

Well I bought mine almost 2 weeks ago and it crashed badly straight away but today its back up over 10-15% gain overall.

Bought doge but then sold it. Seems a bit of a silly one.

Got the main ones but also some reddcoin. Sia and ripples are my favs at the moment. Got high hopes.

15% gain every two weeks compounded is a LOT of money.

[FrontEnder]

I bought £100 worth of bitcoin and converted it to Ethereum on Thursday. After the charges for buying it, sending it to my wallet and then converting it, it ended up as about £85 worth of Ether.

It's now £92 ish worth of Ether, so hopefully I'll be in profit by the end of the week.

Now £99.77 worth. Nearly there.

[ChimpMaster]

All that 'virtual' profit.

[FrontEnder]

All that 'virtual' profit.

Up to £102.22. I'll be able to retire in a couple of months at this rate.

[Drei]

Up to £102.22. I'll be able to retire in a couple of months at this rate.

That's %10 right there, don't think any banks or savings account offer that, not even property investment I really need to jump in the train, just really pissed I missed the damn sale.

[Drei]

By the way, wouldn't it make more sense to invest your Ltd money in crypto?

If you lose it you can write it off against your revenue, if you do manage to make a huge profit let's say in Scoot's example of £300k or if you hold for longer and get to over £1 mill and you want to cash out, you would be hit by a HUUUUGE personal tax of %50? Would make more sense to use a LTD Company since they would only get hit with %19 tax.

From what I see right now it's building another bubble, might not be the right time to buy.


We been talking about this for some time but I have not managed to see a statement on other forums or even here from a user saying "I cashed out £200K". Until I see that I am honestly afraid to put any money in.

%1 of the global population controls pretty much all of the crypto market which is extremely scary tulip. If you try to sell £50k worth of crypto, would the whales allow you to do so without screwing you up? This is why I would love to know if anyone has actually managed to cash out sums of over £50K.


World of Warcraft experience:
Not sure if anyone here played or is playing World of Warcraft. Auction House manipulation where people would spend all their time buying cheap and selling high. Only difference is that a lot of that virtual gold would remain in the game. Yes some of it was sold for real cash. People were using auto bots and all kind of addons etc to check the market.

Lets say you had whatever items that you were selling (best items were crafting materials, the more items you owned and stored the better for you to work the market and make a killing). You check the market, lowest sell order was at 50g and highest 70g. If you put enough items at 49g you would cause everyone else to reduce their prices right? Suddenly you would see sell orders at 45g, you could then put your orders at 42g and so worth until the price would go low enough. At this point you could cancel all your sell orders and buy everyone out at 30g then you would put everything back on the market at 70g. I would sometimes have multiple characters put the same items on sale at difference prices. This way you pretty much defined the new set price. Put enough sell orders at 70g and everyone else would start increasing their prices thinking that's the new price. When that happens you start selling slightly lower. There were players that did this all day long making huge sums of gold.


To do this you would need to own quite a few items just like you need to own cryptos before putting sell buy orders. I believe that at one point the buy sell orders were done using fake fake currency, as in borrowed or sellers would not own the means to buy or sell. Hence why the %1 are the ones getting rich not the few people buying £500 worth of currency.

[scooterscot]

Just made a boo boo. Sold about £8k worth of Ark coin at $0.23 10 days ago. Now $1.15 -

Although I never lost I hate when I've knowingly been acting like a day trader. Especially after reading so much into the coin in the first place.

[psychocandy]

Just made a boo boo. Sold about £8k worth of Ark coin at $0.23 10 days ago. Now $1.15 -

Although I never lost I hate when I've knowingly been acting like a day trader. Especially after reading so much into the coin in the first place.

About £32K lost out on then? Ooooofffffffffffffffffffffffffffffffffffffffffffff ff!