Cryprocurrency

[trying_to_survive]

Evening - your thoughts on this please? I have about 15K in my business account surplus and cannot see any immediate use for it neither I can take the money ourlt - tax reasons.

I am prepared to "waste" about 10K in the hope I have significant returns on it. I have been hearing about cryptocurrencies and although volatile seems like a great return if you held out for some years.

1. What do you think about this?
2. Can I do this from my business account?
3. Why cryptocurrency would you recommend and how do you purchase them?

Thank you

 

[Mark T Jones]

Nobody - and I do mean nobody - can say with Any degree of certainty what ****** will do over ghe next few years - though there will be lots of guessing

Basic rules of investment

Only invest in stuff you understand
Only invest what you can afford to lose

 

[trying_to_survive]

Thank you- can you use ltd company surplus cash registered as "IT" to make thos investment or does this has to be from my own account?

 

[WaveJumper]

There have been several threads on here about ****** and opinions are like Brexit and COVID jabs people can be poles apart. All I will say (and I can not really advise as I am pro trader) they are so volatile you can get your fingers burnt very quickly, not so long-ago Bitcoin as an example was up to $60 a coin currently on my screen just over the $32 (some would argue a buying opportunity) to buy you would need to have an account set up with the likes of Coinbase, but its a big gamble. You maybe better off looking at some of the well known company shares, lot of opportunities out there at the moment and fairly straight forward to open a trading account, but DYOR.

 

[Nico Albrecht]

$60 a coin currently on my screen just over the $32

I think there is a mix up between £ / $ it is more like $45K atm which is quite nice. Only idiots bought in at over $60k right before a 3 year halfling cycle of BTC. It always amazes me that people tend to go for the ****** hype and buy in when it is expensive and in green and shit themselves to buy when it dips and is in red.

As in investment, ****** could work very well as they are still quite undervalued for what they are and by now it is an over 2Trillion market and governments start to realize that blockchain tech is the future and need to adapt.

There are more than 11000 coins and tokens out there and a lot a crap at best.

Start educating about the alt coins , try to understand what those coins can do and what problems they solve. Ethereum and ADA with smart contracts is quite interesting and also read about DeFI.

You could buy into Ethereum hold it long term and stake it at 5.5% interest / year compounded daily.

Stocks are as tricky to evaluate at the moment, specially the tech ones. There will be massive corrections in the stock market coming here.

As said before invest only what you can afford and no financial advise given here.

 

[SomethingWitty]

Evening - your thoughts on this please? I have about 15K in my business account surplus and cannot see any immediate use for it neither I can take the money ourlt - tax reasons.

I am prepared to "waste" about 10K in the hope I have significant returns on it. I have been hearing about cryptocurrencies and although volatile seems like a great return if you held out for some years.

1. What do you think about this?
2. Can I do this from my business account?
3. Why cryptocurrency would you recommend and how do you purchase them?

Thank you

My advice is stay away from ******. Many are pyramid schemes anyway. I personally think ****** has no feature and the state will simply cherrypick some of the underlying technology and use it in government regulated digital currency in future. Things like proof of stake and smart contracts for example. No way central banks will allow any ****** to become legal tenure. Only one, Monero, has any potential future and that's just because of it's privacy, it COULD become the digital equivalent of an offshore account but would be used mostly by criminals anyway.

 

[WaveJumper]

I should just point out that there’s a big difference between the many schemes around which encourage you to give them your money and offer huge returns whilst they play and dabble in the ****** markets than having your own account and buying “coins” direct.

It’s a very volatile speculative place to be putting your hard-earned cash and certainly not for the faint hearted.

 

[Financial-Modeller]

Not a recommendation to invest in ****** generally or bitcoin specifically, but there are several listed companies which mine / trade ******.

Buying shares in these provides a different risk profile to buying the underlying ******, removing some of the risks (hacking, storage etc) whilst obviously adding others (quality and cost of management, etc). If interested OP, check RIOT and MSTR, but there are many others.

 

[wayzgoose]

Just invest a small amount to have a bit of fun. There's a lot of opportunity to buy and sell over a short period of time. I put £100 quid in which is now worth well over £2000. Got an app that notifies me when coins move over 10% in either direction. All a bit of fun and doesn't really matter if I lose the lot (but that won't happen!)

 

[WaveJumper]

Sounds like ****** not going down to well in some quarters:

“Thousands of protesters have taken to the streets in El Salvador, angry at the introduction of Bitcoin as its legal tender.”

https://www.bbc.co.uk/news/world-latin-america-58579415

 

[LuckyMac]

I would invest a much smaller portion of that. It would be more of a long shot than a sure thing. There is adaption of cryptocurrency around the world with ATMs and Paypal accepting it but still a very unknown quantity

 

[WaveJumper]

Interesting read on the BBC
https://www.bbc.co.uk/news/technology-58572385

 

[WaveJumper]

Oh dear ****** is in the news again:
China's central bank has announced that all transactions of ******-currencies are illegal, effectively banning digital tokens such as Bitcoin.

https://www.bbc.co.uk/news/technology-58678907

 

[LuckyMac]

Seen this China seem to have their own agenda. I think the freedom ****** and digital coins give would not suit such a regulated society. Interesting to see how this effects it globally

 

[Nico Albrecht]

Oh dear ****** is in the news again:

Why oh dear , they have done the biggest favour for ******. Big thank you to China they gave there last blow and they failed. China banning ****** made it even in a south park episode as a joke 3 years ago. So nothing new here anymore.

https://cointelegraph.com/news/****...d-nearly-two-dozen-times-in-the-last-12-years

All ****** now trades through Hong Kong exchanges. There was a small dip in the ****** market but in less than 24 hours they already went back up and over. Smart people bought this dip on Friday lunch and sold back today with an 11% profit.

https://cointelegraph.com/news/cros...coins-rally-higher-despite-china-s-******-ban

What else is China banning or banned? Facebook , YouTube all of that sorts banned since it was banned user numbers went up.

All in this was a very good day for ****** as China fired its last stand, there is nothing more they can do now or frighten people with ******. Also not sure how they can actually ban a decentralized system.

Miners already moved on to all sorts of countries like US, Iceland, Canada and many more that are ****** friendly.

Blockchain tech and NFTs are the future at their current growing rate they will be a force to reckon with in less than 10 years. Even at over 2 Trillion at the moment it is not going to go away anymore....

 

[5pennies]

As the saying goes, get on the train before it leaves the station.
Example, Bitcoin a currency coin and was worth 0.08cent in 2010 even at $2.00 in 2011 it was cheap,
investopedia[dot]com/articles/forex/121815/bitcoins-price-history.asp
Litcoin, another mineable currency coin was worth 0.10ct in 2011 and today many dollars more.
coinhouse[dot]com/litecoin-price/
Dogecoin, a Meme and mined coin went from practicaly nothing in 2014 to £0.50p in May 2021, in 2014 £60 invested in Dogecoin would
have been worth £100,000.- in May 2021.
You diffenenty need to get on the train before it leaves the station, investing only a small sum.
Most initial coin/token offerings are listed on bitcointalk[dot]org, offering bounties for services and possibly a few free coins.
If you prefer to work the faucets and news reads; coingiveaways[dot]freeforums[dot]net may be of interest.

 

[bodgitt&scarperLTD]

As the saying goes, get on the train before it leaves the station.
Example, Bitcoin a currency coin and was worth 0.08cent in 2010 even at $2.00 in 2011 it was cheap,
investopedia[dot]com/articles/forex/121815/bitcoins-price-history.asp
Litcoin, another mineable currency coin was worth 0.10ct in 2011 and today many dollars more.
coinhouse[dot]com/litecoin-price/
Dogecoin, a Meme and mined coin went from practicaly nothing in 2014 to £0.50p in May 2021, in 2014 £60 invested in Dogecoin would
have been worth £100,000.- in May 2021.
You diffenenty need to get on the train before it leaves the station, investing only a small sum.
Most initial coin/token offerings are listed on bitcointalk[dot]org, offering bounties for services and possibly a few free coins.
If you prefer to work the faucets and news reads; coingiveaways[dot]freeforums[dot]net may be of interest.

Ignoring the obvious spambot, the flip side to that analogy is that if you don’t choose to board this particular train you then will not be on board if (or when) it derails…

 

[wayzgoose]

Just don't borrow money to try the ****** markets. For the price of a family meal out you can have a bit of fun, make some money and if it "derails" you've only lost 100 quid.

 

[WaveJumper]

And Bitcoin still seems to be trying to climb today even though it had a slight pullback 30mins ago wild ride as always

 

[Nico Albrecht]

Bitcoin still seems to be trying to climb today

Thats why https://www.independent.co.uk/life-...tcoin-etf-news-price-******-sec-b1938882.html

 

[sharabela]

I do not think you should invest money on someone's opinion. Yes, BTC seems to have good future but you evaluate and analyze before investing money on any cryptos. I am wishing you all the very best.

 

[Red Wood]

You could buy into Ethereum hold it long term and stake it at 5.5% interest / year compounded daily.

Could you explain this process? The interest payable on the amount of Ethereum you hold based on its current value?

 

[Financial-Modeller]

Further to my msg about companies that hold ****** (#8), there is now a Bitcoin ETF (BITO), which may be useful to those wanting exposure to price but not the inherent security risk of holding cryptocurrency directly with company funds.

Details here:
https://www.proshares.com/funds/bito.html

 

[Pezza55]

Cryptocurrencies can be a good investment, but you need to know what you're doing. I wouldn't go in blind. There are lots of youtube videos out there to help learn how to read the charts and patterns to investing or trade at the correct time. The ****** markets can be very volatile so it's easy to lose money quickly.

 

[Nico Albrecht]

Could you explain this process? The interest payable on the amount of Ethereum you hold based on its current value?

Correct 5.5% annual interest compounded daily and paid out with Ethereum daily. Depending what exchange you use this can be done in seconds with a 90 day commitment for 5.5% , 30 days 4.5% or flexible staking at 3.5%

Since Ether is moving from proof of work to proof of stake with Ether 2.0 upgrade. Proof-of-stake is the underlying mechanism that activates validators upon receipt of enough stake. For Ethereum, users will need to stake 32 ETH to become a validator. So you lend your Ether to the exchange they validate and make 10% - 15 % on it for staking it and pay you 5.5%.

 

[Nico Albrecht]

Further to my msg about companies that hold ****** (#8), there is now a Bitcoin ETF (BITO), which may be useful to those wanting exposure to price but not the inherent security risk of holding cryptocurrency directly with company funds.

I posted this days ago and there are 18 more applications already filed with SEC. With the BTC one going ahead now the other will follow quickly.

China banning ****** ( massive mistake and huge favour they actually did here ) and a very volatile us stock market there is plenty of money shifting into ****** now. BTC at $100K / coin by end of year is now a very realistic target number.

 

[Deleted member 59730]

Buy tulips! Plant them in pots in your garden and you will get more benefit.

Look up Tulipmania on the web.

 

[Nico Albrecht]

Look up Tulipmania on the web.

You really referencing " The popularity of Mackay's tale " Historically research into this has already disproved the effect on the Dutch economy. It was a religious tale at best. https://en.wikipedia.org/wiki/Tulip_mania#Social_mania_and_legacy

 

[Nico Albrecht]

We can also safely assume bank of America executives started smoking crack on the 4th of October 2021 and added 23 More Firms to Its ****** Research List. With $2.5 trillion in market value and more than 200 million users the “digital asset universe is too large to ignore.

Blockchain tech will take over and solve problems. Speculating on ****** as an investment is something else.

 

[Deleted member 59730]

You really referencing " The popularity of Mackay's tale "

No. I'm pointing out that you get more benefit by spending the money. Just like planting tulips.

 

[WaveJumper]

Record high just recorded for Bitcoin today

 

[Nico Albrecht]

Spain: https://www.coindesk.com/policy/202...re-preparing-to-offer-******-services-report/

 

[Nico Albrecht]

Looks like China is going to unban the ban on cryptos. https://digesttime.com/2021/10/24/c...unbanning-bitcoin-and-started-a-new-research/

 

[LuckyMac]

Just don't borrow money to try the ****** markets. For the price of a family meal out you can have a bit of fun, make some money and if it "derails" you've only lost 100 quid.

Agree with this, the adage is always only use what you can afford to lose in trading, this is even more so in ******

 

[Nico Albrecht]

The Microstrategy company would complete disagree. They borrowed heavily to buy btc and now they get the rewards out of it. Just saying no risk very little rewards

 

[Dutchy1986]

Evening - your thoughts on this please? I have about 15K in my business account surplus and cannot see any immediate use for it neither I can take the money ourlt - tax reasons.

I am prepared to "waste" about 10K in the hope I have significant returns on it. I have been hearing about cryptocurrencies and although volatile seems like a great return if you held out for some years.

1. What do you think about this?
2. Can I do this from my business account?
3. Why cryptocurrency would you recommend and how do you purchase them?

Thank you

Definitely would be something I would do with spare money. Now isn’t necessarily the time and I would wait for a dip

 

[Marbman]

not so long-ago Bitcoin as an example was up to $60 a coin currently on my screen just over the $32 (some would argue a buying opportunity)

If you can buy 1 bitcoin at $32 then buy as many as you can, right now its trading for $68k a coin.

 

[Casually made]

I get cold shivers when someone refers to bitcoin as "investment"

For the simple fact it's entire value model is built on what someone else thinks it is worth

Nobody can seem to understand we've been in a senseless ****** bull market for the last 18 months most of the money in it is soft and won't stick around when the price inevitably starts dropping

Some of the smaller cap coins seem to at least have some real world application although still vague

I just fear when the bitcoin Ponzi eventually crashes and i think it has too at some point , its going to wipe all the other coins out with it

 

[Martin Patfield]

Please don't waste peoples time with cartoon derived ******. FFS.

 

[gpietersz]

Agree with this, the adage is always only use what you can afford to lose in trading, this is even more so in ******

Another adage "if you feel like trading in commodities, lie down until the feeling goes away"

I am not sure bitcoin meets a strict definition of a commodity, but its fungible so close enough. Possibly more like foreign currency in that you can lend it at interest.

For the simple fact it's entire value model is built on what someone else thinks it is worth

On the other hand you can say the same of gold and diamonds. Yes, they are pretty, but so are a lot of cheaper substutites and neither that nor practical uses for them justify more than a tiny fraction of their prices.

Prices are maintained by their use as a store of wealth (central bank stocks, traditional use as a personal store of value), value as a status symbol because they are expensive, and, in the case of diamonds, artificial restrictions on supply.