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Bitcoin- buy now?


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13 hours ago, Delwint said:

Am I the only who finds that this extremely complicated ? I have some money that I’d like to put into a fair spread of crypto currencies but the more I look at it the bigger a headache I seem to get ?

 

The sites seem to have been a bit busy and caused what appear to be unusual delays (just going off what one wrote on their banner), it's taken 2 days but I have ETH ready to spend :D

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10 hours ago, dbob said:

I see Ripple prices have crashed since last week..

https://www.express.co.uk/finance/city/902895/ripple-price-down-xrp-crashing-crypto-exchange

i was close to investing last week and so glad i didn’t, a 50% loss in less than 7 days wouldn’t have been a great start to my first crypto investment dabble!

oops I did, but not enough to worry about so I'll just leave them and see what happens

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1 hour ago, figgy said:

This thread seems to have gone quiet. What’s been happening in the crypto currency world?

Are people blowing on their burnt fingers or rubbing their hands together in good fortune.

As always with investing, fingers are only burnt or hands rubbed together when investments are cashed in.

Edited by proud dad
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Hi Figgy

lot's going on as usual affecting prices of many of the cryptos, south Korea talking of banning cryptos platforms so people selling off. Ripple (xrp) had seen significant growth and has dropped back a good bit, news for any of the pw ripple holder,  ripple ceo has yesterday announced partnering with  Moneygram western union to provide the 1st use of actual xrp with cross border transactions. 

Bitcoin being the daddy of all cryptos is still encountering little movement having dropped approx 50% from it's all time high and is moving back and forth for last few weeks between 10-15%, talk of legislation, blockchain times and fees all affecting price at present. Upgrades to blockchain still being rolled out which are aim to help with scaling problems to reduce fees (Arrrrgghhh they cannot come soon enough)

Ethereum and Bitcoin Gold has had large% gains in last couple of weeks and still going strong, some of the small cryptos have seen large increases, Stellar lumens is one such and is created by ripple and has similar blockchain function to xrp, conversely other cryptos have seen significant losses.

Problems for people trying to get into the marketplace as most platforms closing to new registrations so they can focus on servicing current users and security. Some platforms having delayed withdrawal times due to network demands.

With all of the media hype all crytpos rose a couple of weeks ago, most of them absolute garbage coins with very little application or the development teams behind them have not met any targets for roadmaps they set out for that particular crypto. Many of these are now dropping back, however some of the better coins have found previous ground and some have increased from the revenue development generated from buys.

I give you an example in early 2016 I had some bitcoin left over from buys in one account and had about £20 worth, i purposely bought the poorest most rubbish crypto at that time which, when i checked on this 2 weeks ago it had risen to about the £450 mark so i cashed half of it out and it has now dropped back again but still no where near the original buy price.

Another coin i bought at the same time was doing well and has really dipped about 12 months ago and has lost more than 60% of it;s original value but i was not into it for a great deal so no biggy.

Some coins have some real promising blockchain applications behind them and will continue to be driven by the developers and supported by the network miners.

As always, some countries looking to ban cryptos, others encompassing them, media frenzy pushing demand versus the speed of development. As i always say never use any Dosh that you cannot afford to forget about, like myself there will be many people still holding currency for longer term gains and is always a risk/reward. 

For 99.99999% of the population who hold cryptocurrencies all they need to know is it going up or is it going down, for me personally i have rode the wave for the last 18 months or more and have followed it for last 4-5 years and it still boggles my mind at times.

I have been fortunate to get into the most major markets very early on and have already removed my initial investment, as with all thing there will be people who make gains and others who will unfortunately make losses. The sad thing i see is the world and his wife making crystal ball promises that one currency will do this and another will do that, no one can see into the future. I am not in any way giving any investment advice and always do your due diligence to the best you can.

Personally i have not had to reach for the germoline for burnt fingers!

 

 it's like the wild west, yee haa! 

atb

7diaw

 

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  • 3 weeks later...
A lot of monkeys lived near a village.

One day a merchant came to the village to buy these monkeys!

He announced that he will buy the monkeys @ $100 each. 
The villagers thought that this man is mad.

They thought how can somebody buy stray monkeys at $100 each?

Still, some people caught some monkeys and gave it to this merchant and he gave $100 for each monkey. 

This news spread like wildfire and people caught monkeys and sold it to the merchant.

After a few days, the merchant announced that he will buy monkeys @ 200 each.

The lazy villagers also ran around to catch the remaining monkeys.

They sold the remaining monkeys @ 200 each.

Then the merchant announced that he will buy monkeys @ 500 each!

The villagers start to lose sleep! ... They caught six or seven monkeys, which was all that was left and got 500 each.

The villagers were waiting anxiously for the next announcement.

Then the merchant announced that he is going home for a week.  And when he returns, he will buy monkeys @ 1000 each!

He asked his employee to take care of the monkeys he bought.  He was alone taking care of all the monkeys in a cage.

The merchant went home.

The villagers were very sad as there were no more monkeys left for them to sell it at $1000 each.

Then the employee told them that he will sell some monkeys @ 700 each secretly. 

This news spread like fire.  Since the merchant buys monkey @ 1000 each, there is a 300 profit for each monkey.

The next day, villagers made a queue near the monkey cage.

The employee sold all the monkeys at 700 each.  The rich bought monkeys in big lots.  The poor borrowed money from money lenders and also bought monkeys!

The villagers took care of their monkeys & waited for the merchant to return. 

But nobody came! ... Then they ran to the employee...

But he has already left too !

The villagers then realised that they have bought the useless stray monkeys @ 700 each and unable to sell them! 
The Bitcoin will be the next monkey business 

It will make a lot of people bankrupt and a few people filthy rich in this monkey business. ???

That' how it will work?
 
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Providing the people investing in the market only invest what they are willing to loose and not their entire savings and trade wisely then it's not like the monkey business. 

The housing market however is like the monkey business.. ...

People go to banks to borrow £600 000 at 3% to buy a new 3 bed semi detached house built from wood and plasterboard on wasteland, with a 3ft garden and no drive. They have no spare Money to buy clothes or food or anything. The interest rates go up and the people cannot afford the repayments and the merchants who sold the houses have left with the money and the people are homeless. The worlds banks that have lent out trillions of money that they didn't actually have, Now have debts they cannot pay and defaulters on loans that are not being paid back, and the banks go boooooom. That is a more believable story than Crypto going bust.

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