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NorfolkAYA
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I have been in crypto for 4 years now. The longer I am in it the more I realise...... theres Bitcoin and then there’s everything else. No question some of these alts have potential, and some will develop into the Amazons and Facebooks of the future. But Bitcoin is by far the safest bet and will out perform most alts over the next 20 years. 

I own alt coins. But urge everyone who asks me about it, have a least half your portfolio in Bitcoin. 

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Just be careful, a lot of institutions are having a big Crypto sell off at the moment - it’ll recover but quite slowly I should imagine. If it were me I would pop a little bit in then watch it and you can average down or up if need be.

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1) Bitcoin p2p (BTC) active

2)Ethereum (ETH) smart contracts derivatives. Decentralized Finance (Defi)  active

3) Cardano (ADA) smart contracts in the roadmap

4) Chainlink (LINK) oracle Defi active

5) Polkadot (DOT) Defi active 

6) Uniswap (UNI) decentralised exchange token (DEX) active

7) Polygon (Matic) Layer 2 scaling for ether smart contracts active

😎 Binance coin (BNB) centralized decentralized network active

9) AAve previously LEND (AAVE) smart contracts active

10) Kusama (KSM) polkadot ecosystem (parachains Defi)

For those of you above interested in crypto assests the above list of my personal favourites. As always don't spend the house and do your due diligence. (whitepaper/roadmap)

atb

7diaw

PS Disclaimer

Your assts may be at risk, you may lose 100% of your investment blah, blah, blah! 🤑🐮😩🐻

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Crypto in my limited experience seems to be largely driven by social sentiment which can be positive or negative depending on the likes of Musk (eg Dogecoin and Bitcoin) and the cost of transactions using Crypto as opposed to normal tender. Yes they may have contracts with firms but their success still depends upon that of those particular companies.

Just my opinion, not a Crypto trader except when I’m bored of a weekend, Crypto’s the only thing trading and I fancy a bit of scalping 😂

 

Edited by bigbird
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5 hours ago, Munzy said:

I’d add Vechain (VET) to the list too, good fundamentals.

Yes Munzy VRT has very good fundamental, I have a held VET since its inception.

5 hours ago, bigbird said:

Crypto in my limited experience seems to be largely driven by social sentiment which can be positive or negative depending on the likes of Musk (eg Dogecoin and Bitcoin) and the cost of transactions using Crypto as opposed to normal tender. Yes they may have contracts with firms but their success still depends upon that of those particular companies.

Just my opinion, not a Crypto trader except when I’m bored of a weekend, Crypto’s. 

Crypto is driven by social sentiment to a degree but the fundamentals and macroeconomic factors are far more important. This is where technical analysis and on chain analysis are important. It is true that when sentiment is "high" that carp coins such as the meme coins, many which have absolutely no fundamentals get dragged along also. They like the social meme coin "maxamalist's" will be shaken out in time and do not help the space at present. Having carp cryptos gives the media the golden bullet to FUD (fear, uncertainty and doubt) all cryptocurrency assets/technology when they boom and bust and this enables market manipulation. There are big to be had from these cryptos but also big losses and for most they will not see a future. Many altcoins are very volitile and sadly many people get hammered as they do not understand the space.

Cryptos with strong fundamaental will always outdo carp coins and meme coins in the long term in  terms of adoption and returns.

Cryptocurrency Smart contracts are already changing the global financial sphere. Visa card which transacts hundreds of billions of dollars a day with hundreds of partners are now incresingly using the ethereum network smart defi contract for it's financial settlement layer from FIAT currency directly into cryptocurrency into visa cards ethereum wallet.  They are looking to incresingly offer this facility to others in the coming future ,,,

Also Visa card has just launched their "Bitcoin rewards credit card" which gives a cashback of 1.5% on all purchases which is immeadiatley converted into bitcoin. 

When the internet started someone coded html and that was web 1.0 which was read only, you could access a website with your browser and view and read the information on that said webpage or view a picture and it was limited to that.

Then cam e web 2.0 which was read and write which enabled users the ability not only view webpages but also interact and talk on forums/social media etc.

Ethereum is web 3.0 which is read, write and ownership which is a decentralized trustless consensus blockchain for the worlds financial transactions which is and will increasingly enable financial assests such as deravatives to be traded 24/7, no waiting for stock exchange to open. The derivatives market is the biggest market in the world. Increasingly millenials want there assetts online with 24 hour a day access and not held in traditional paper and coin (FIAT). Gold outflows into crypto assets are at an all time high and gold is traditionally seen as "real money." I have have no doubt that gold will always be a part of the financial portfolio but crytpto is slowly but surely sucking a percentage out of gold. Retail (Joe Public) will be incresingly able to hold their own crypto assets in a online wallet such as ethereum or bitcoin and move it when and where they like. Want to send someone some crypto on the other side of the world at 2am, no waiting for your bank to send and take how many hours or days with the exorbitant fees. Send in minutes for buttons, this you can do today.

Bonds, contracts, futres, deeds, settlements are being digitally converted and stored on the defi blockchain. Imutable, secure and trustless consensus are some of it's benefits over traditional systems and traditional finance are begining to look towards DEFI and looking at the benfits it can bring.

So in essessnce web 3.0 is read, write and ownership.

Defi has had a stupendous growth in the last 12 months but is just a tiny fishy at the present time.

 

Some things that have happened in the sphere of crytocurrency assets and blockchain up to the present:

1)Trade bitcoin and other cryptocurrency futres on the stock exchange (the underlying asset) since 2018.

2) Below PLC list of pulblic companies who have bought bitcoin directly, giving indirect exposure to anyone who hold their shares. 2020.

    https://bitcointreasuries.org/

3) Hedge funds and wealth managers buying bitcoin/ether other cryptos as part of pension/ asset portfolios 2020/21.

4) Paypal, square, coinbase, robinhood retail and investment crypto trade and custody for both retail and investment firms.

5) Central bank digital currency (CBDC) coming to a country near you, bank of England just set up taskforce to look at the benefits/risks of a cbdc which if implemneted (2023 Ish) would be used alongside traditional FIAT for "households and businesses."

5) NYDIG in new york just been granted the first license in America to grant banks and sovereign wealth (goverments) to buy bitcoin as the the direct asset (physical, digital bitcoin) and not a underlying one such as a future. This means that  customers of the banks will be able to buy, hold (hodl) and sell there bitcoin through their existing accounts and convert bitcoin/crypto directly into that native FIAT if desired and visa-versa.  NYDIG reports that it already has hundreds of banks awaiting  to be granted their license through them.  Goverments are also wanting exposure to crypto as soverign wealth.

I have put a very interesting chart below which gives "all of the worlds money markets in one visuliztion" it is fascinating to look at, have a look at the current cryptocurrency market and the derivatives market and the derivatives market is where ethereum is aiming for.

https://www.visualcapitalist.com/all-of-the-worlds-money-and-markets-in-one-visualization-2020/

I have also put a link below for DEFI ecosystem so this gives you an idea of the current operating and active sphere of DEFI.

https://cryptodiffer.com/news/ethereum-defi-ecosystem/

 

Governace and regulation has really moved forward and it is what the space needs if adoption is to become mainstream. I have been into cryptocurrency since the early 2014 if I recall correctly, though did dabble in its early inception. I myself am not a professional trader but i do trade cryptocurrencies a lot. Scalp,leverage trading, hodling, staking it all has it's ups and downs but I do enjoy it, well most of the time. This week has been a particular "bloodbat for my portfolio  but he ho, onwards and upwards.

Like all "disruptive progressive technology" it takes time to scale and allow for mainstream global acceptance. Yes fees can be high at present on some chains for some cryptos but not for all and as the technology progresses it will become cheaper to transact and more efficient. 

Tons of things coming in the space such as sidechains, parachains, rollups, pow to ***. (proof of work/proof of stake)

A good strategy is:

don't use money that you cannot invest without the risk of going to zero, do due diligence, take profits regular, take out your initail investment once doubled then anything else is no worries and profits.

 

Arrghh!! 3 o'clock in the morning , no glasses, any way first long post in an age and I off to bed and good luck with your trading. To the mooooon!!!!  AND BEYOND!

atb 7diaw

 

 

Edited by 7daysinaweek
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Oooooooohhh that’s interesting thanks for typing all that out, will hold my hands up and say I didn’t know there was that much to it - or rather never did any DD on crypto.

Have a 🚀 because there aren’t any on this thread yet 😂😂

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  • 1 year later...

Watching crypto prices over the last few weeks I’m glad I never dipped my toe in - far too hairy for my liking.

On a tangent, has the world accepted that NFTs gave been and gone? I ‘get’ crypto and read into the sector via Dominic Frisby, but the whole NFT thing looked like Emperors New Clothes to me. 

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Not getting into the pros and cons of crypto currencies 

as a separate issue, there are a lot of scam sites (some of them very convincing and official looking) that will claim to be investing your money in crypto and manage your account for you. They issue regular statements perporting to show your investment is growing steadily. At this stage they encourage you to invest more.

Every thing goes well until you try and get your money out

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9 hours ago, Mungler said:

Watching crypto prices over the last few weeks I’m glad I never dipped my toe in - far too hairy for my liking.

On a tangent, has the world accepted that NFTs gave been and gone? I ‘get’ crypto and read into the sector via Dominic Frisby, but the whole NFT thing looked like Emperors New Clothes to me. 

Like wise. I only buy stuff that I believe in. I am sure there is good money to be made but not sufficiently tangible for my liking. That said everything is taking a pounding with this war and subsequent depression. 

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14 hours ago, Mungler said:

Watching crypto prices over the last few weeks I’m glad I never dipped my toe in - far too hairy for my liking.

On a tangent, has the world accepted that NFTs gave been and gone? I ‘get’ crypto and read into the sector via Dominic Frisby, but the whole NFT thing looked like Emperors New Clothes to me. 

I agree to an extent Mungler.

NFTs (non fungible tokens) in their form of jpegs have more than likely had their time, however the use case for nascent NFTs technology will not be from a retail speculative perspective any more, but to artists and industry. Effectively a NFT allows the owner of that algorythmic token contract to be paid directly for their work from royalties cutting out the middlemen.

 

10 hours ago, Vince Green said:

Not getting into the pros and cons of crypto currencies 

as a separate issue, there are a lot of scam sites (some of them very convincing and official looking) that will claim to be investing your money in crypto and manage your account for you. They issue regular statements perporting to show your investment is growing steadily. At this stage they encourage you to invest more.

Every thing goes well until you try and get your money out

I have been rug pulled quite a few times in crypto, however also by one of the biggest 'REGULATED' trading desks in traditional finance so it is not only within the crypto sphere.

Taken me years of pains to get to the stage I am at now, and quite comfortable navigating the world of blockchain crypto assets. As with all investements be they in traditional markets or crypto they should be treated with the amount of caution commensurate with your risk tolerance for that particular asset.

4 hours ago, oowee said:

Like wise. I only buy stuff that I believe in. I am sure there is good money to be made but not sufficiently tangible for my liking. That said everything is taking a pounding with this war and subsequent depression. 

You are quite right oowee.

There a huge gains to be made at times but also the risk of huge losses depending on many factors.

The recent crypto crash is not all about crypto, the technolgy is still being developed and it still is the fastest adopted technology in history.  Some of the the top crypto assests have been strongly correlated with the stock market for the last 15 months or so. As the traditional markets get a proper bashing from the many global macro factors, the onslaught in crypto is bigger as people move their liquidity out of the more risk on nascent crypto assets and this pushes the price down. 

For myself I see the present crash as a opportunity to buy more crypto. The reality is that money is made in bear markets and not bull markets if you get my meaning.

As always never ,ever risk anything you cannot afford to walk away from if it all goes bad!

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It has the same value as your fiat currency and will broadly follow the same trend you're witnessing now. That is, collapse.

Proceed with caution. With fiat currency, provided you hold actual notes and not a fictitious 'bank balance', you can at least light a fire or wipe your backside.

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5 hours ago, mick miller said:

It has the same value as your fiat currency and will broadly follow the same trend you're witnessing now. That is, collapse.

Proceed with caution. With fiat currency, provided you hold actual notes and not a fictitious 'bank balance', you can at least light a fire or wipe your backside.


Or there’s a government with at the very least a tax system sitting behind it. 

My mantra is property - not silly overpriced stuff mind you. As one of my clients told me a long time ago, whatever is going on in the world people always need somewhere to live and somewhere to go to work in. Oh and ‘if it’s cheap enough, it will rent tomorrow’.

I digress…

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5 hours ago, Mungler said:

My mantra is property - not silly overpriced stuff mind you. As one of my clients told me a long time ago, whatever is going on in the world people always need somewhere to live and somewhere to go to work in. Oh and ‘if it’s cheap enough, it will rent tomorrow’.

I digress…

Land too.  They stopped production a while ago, and it's always in demand.  

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On 17/06/2022 at 18:25, Mungler said:


Or there’s a government with at the very least a tax system sitting behind it. 

My mantra is property - not silly overpriced stuff mind you. As one of my clients told me a long time ago, whatever is going on in the world people always need somewhere to live and somewhere to go to work in. Oh and ‘if it’s cheap enough, it will rent tomorrow’.

I digress…

Land or property. Precious metals are heavily manipulated, but show steady, small long term growth.

Edited by mick miller
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