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[Finance] The cryptocurrency (Bitcoin etc) thread
- Thread starter Sirius76
- Start date
Albion Dan
Banned
Quite the opposite. You can 100% rely on it pumping and dumping and pumping etc.
Albion Dan
Banned
QNT is going to be a monster. Same as Constellation, NOIA, COTI, Orion protocol, Luna etc. Just solid solid projects.
giveusfalmerplease
Well-known member
got BADLY stung last week. i was using 3.5 ETH and some USD as collateral currency to stake ADA on leverage after it dropped from 3 to 2.8 . Then THAT DAY!! Bitcoin down ETH down and ADA down even more......not exactly sure of the sequence of events as it happened when i wasnt monitoring. all i know is when the crash started i ran out of collateral of ada=2.33 , after they had already sold some of my ETH. Of course the market immediately recover but then i wasn't holding anything. it was like from 3 minutes i had 15k in cypto to being left with 5k in cash and all my crypto liquidated. Then to make it worse ETH rebounded from a bottom of 2900 back up to 3250 meaning my remaining cash can only buy 1.5 ETH.....
im now undecided whether to just leave the remaining money in ETH or go for broke to try to recover some losses by shorting some currencies tomorrow once the EVERGRANDE missed payment is official and (SICK I KNOW) hoping that BTC and ETH crash again!! its counter to all my instincts to do that but it may be an opportunity?
Any of you guys ever gambled with crypto like this or are u all sensible lads and just invest it only?
im now undecided whether to just leave the remaining money in ETH or go for broke to try to recover some losses by shorting some currencies tomorrow once the EVERGRANDE missed payment is official and (SICK I KNOW) hoping that BTC and ETH crash again!! its counter to all my instincts to do that but it may be an opportunity?
Any of you guys ever gambled with crypto like this or are u all sensible lads and just invest it only?
Da Man Clay
T'Blades
- Dec 16, 2004
- 16,264
‘Go for broke trying to recover my losses’ never seems the start of a good idea.
Wrong-Direction
Well-known member
- Mar 10, 2013
- 13,450
Your last sentence summed it up, "gambled".
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Solid at the back
Well-known member
HBAR had a good week hitting its ATH, hopefully it consolidates now and bounces back up again in a few months
Barnet Seagull
Luxury Player
I stay well away from leverage as it's easy to get stung. My trading account is my "gambling" but it's small stakes really. If I make money, I cream off the top into my longer term holdings (which I don't trade)
I occasionally liquidate some of the long term holdings when prices are high and I need some cash but I never chase anything. All I look to do on each trade is to grow my stake. This generally means choosing my exit point at which to make profit then holding FIAT for a long time until I can get back in. If I'm in a bullish position, I'll set a stop loss ahead of my entry point (if I've timed things right) and hope that if my loss does trigger, I can re-enter at a lower point.
my current exit point on ETH is 2648 GBP, my stop loss is 2460 GBP. That's not much of a swing either way but it's enough to grow my stake and then look to time my entry point again (all being well, below 2460)
It's a bit like the hokey-kokey and sometimes, I'm on the outside looking in for long periods but that's part of the game.
There's never a bad time to take profit.
acrossthepond
Active member
Hi everyone,
I'm a bitcoin / crypto JCL and I have no idea what I'm doing.
Apart from not shelling out £1000s of GBP off the bat, can anyone suggest any beginner reading / youtube / podcasts to get up to speed on the basics?
I put it off for years and eventually in May when it took a dip I put about £500 in to a few cryptos using coinbase. When I check it I seem to be up averagely around 20%, which seems to be pretty good. I'm usually risk averse with finance and happy to be in for the longhaul. This is all peanuts I know, but when I feel more equipped to do so I'd like to invest more. Currently just feels like I'm putting it on red or black though so any tips, currencies to keep an eye on or currencies to avoid would be really helpful.
At the moment I have a fairly even spread over BTC, ADA, ETH, LINK. Then I tried to be clever and moved my LUNA and SOL to USDC while they were high, thinking I could get ahead of a downturn. And that's the peak of my trading. Not Wolf of Wall Street over here.
Cheers,
If you like the sound of 20% interest per annum, stick your cash in the EARN part of anchor protocol https://app.anchorprotocol.com/earn
which pays just shy of that.
Very, very low risk and great returns.
You can use the Terra ecosystem (of which anchor is a part) to earn more, but it carries more risk. I'm currently getting just shy of 40% on mirror protocol (also terra ecosystem) but more risk and have to watch it closely.
https://terra.mirror.finance/
The different blockchains require effort to keep up to date with, i'd suggest you don't spread yourself too thinly.
I'm 70% terra, 20% Solana, 10% Rune. Nothing else.
acrossthepond
Active member
Oh, and previous poster is right. Stay away from any sort of leverage. It's a quick way to get wiped out.
Stay away from shitcoins too. It's like playing roulette where you can't see the wheel....
Stay away from shitcoins too. It's like playing roulette where you can't see the wheel....
beorhthelm
A. Virgo, Football Genius
- Jul 21, 2003
- 35,392
you know price can go down right? so that very, very low risk isnt. if you bought in April you'd still be down over 20%, wipes out the "interest". these high rates are fun while price appreciates, just know to get out before the bear. nothing in crypto is low risk, apy is a myth, just ride the waves of the tokens themselves.
Albion Dan
Banned
Don’t mess with leverage unless you know how to manage risk properly.
acrossthepond
Active member
No, because interest is paid in stablecoin not token. Have a look. UST tracks well. Savings in stablecoin, interest in stablecoin.
acrossthepond
Active member
I don't hold any anchor tokens. Not concerned about price of anchor, though i do think it will run after update to columbus 5.
acrossthepond
Active member
You can take advantage of the rate with ERC20 tokens via orion, though the rate is slightly less strong (16%)
https://orion.money/
giveusfalmerplease
Well-known member
which exchange are you with - i lost access to binance after they stopped taking GBP deposits so im with kraken. unfortunately kraken dont support OCO deals where u can set a stop loss and a take profit on the same transactions which on several occassions seen my profits disappear whilst i slept!
One question for you...Have u ever sat and watched the graphs, its ridiculous how ETH / ADA / SOL and few others, you can almost overlay the 5 minute graphs showing that this is inevitably computer algorithms driving the market in both directions.