World of crypto

[NottsRam77]

Was wandering if anyone here who plays with crypto is also i to defi

imo its literally the future if banking

Im

currently getting

8% on gbp paid daily back in gbp

25% on usd paid out in farming rewards that i then compound for more capital

20% ust paid back in ust (stable coin) 

Beats hsbcs 0.01 % lol

[Tamworthram]

43 minutes ago, NottsRam77 said:

Was wandering if anyone here who plays with crypto is also i to defi

imo its literally the future if banking

Im

currently getting

8% on gbp paid daily back in gbp

25% on usd paid out in farming rewards that i then compound for more capital

20% ust paid back in ust (stable coin) 

Beats hsbcs 0.01 % lol

They don’t get anywhere near the returns you are quoting above (although there is of course the risk element to take into account) but if you’re keeping savings in account that only pays 0.01% then you must be mad.

[NottsRam77]

3 minutes ago, Tamworthram said:

They don’t get anywhere near the returns you are quoting above (although there is of course the risk element to take into account) but if you’re keeping savings in account that only pays 0.01% then you must be mad.

Sorry im reading that wrong? Who doesnt ? 

[NottsRam77]

4 minutes ago, Tamworthram said:

They don’t get anywhere near the returns you are quoting above (although there is of course the risk element to take into account) but if you’re keeping savings in account that only pays 0.01% then you must be mad.

8% on nexo on pounds sterling 

19.7% on anchor for my ust

and 

25% on mobius on the celo network

printing money quite literally, whats even cooler is i can sit and watch it go up ??

ok.. thats sad and geeky but hey who cares 

[Tamworthram]

2 minutes ago, NottsRam77 said:

Sorry im reading that wrong? Who doesnt ? 

The interest rates you could get on a savings account. A lot more than 0.01% but nowhere near the returns you’re quoting for your crypto currency.

[Tamworthram]

2 minutes ago, NottsRam77 said:

8% on nexo on pounds sterling 

19.7% on anchor for my ust

and 

25% on mobius on the celo network

printing money quite literally, whats even cooler is i can sit and watch it go up ??

ok.. thats sad and geeky but hey who cares 

Sounds good and, whilst I wouldn’t profess to remotely understand most of it, I can’t help but feel those returns are not sustainable and the bubble will eventually burst. The trick is obviously getting out just before it does. If I read his tweets correctly, I think CK said he’d got most of his money out.

[NottsRam77]

55 minutes ago, Tamworthram said:

Sounds good and, whilst I wouldn’t profess to remotely understand most of it, I can’t help but feel those returns are not sustainable and the bubble will eventually burst. The trick is obviously getting out just before it does. If I read his tweets correctly, I think CK said he’d got most of his money out.

Oh totally, im not kidding myself that those rates will last forever esepcially in a bear market.

i just love the premise of basically having control and the same options available to me that a banks has .. they use my cash to do it with.. the difference is if i provide liquidity to a pool or asset class its me not the bank that creams off the lovely profit.

The feeling of control of my money is quite empowering .. even with the small amounts im Playing with.. im a total self taught noice too.. so i can now quite easily understand how people like CK have made millions from this sort of thing.

his was probably in buying crypto when it was cheap though as defi has only been about for a year or two.. unless of course hes really good at it 

i know of several people that have made millions in the space of 2 years by getting into the right pools at the right time

mark my words if ever im one of those jammy sods im taking over my beloved club and taking u all out for the biggest “weve just signed mbappe” party the world has ever seen lol

[bimmerman]

1 hour ago, NottsRam77 said:

8% on nexo on pounds sterling 

19.7% on anchor for my ust

and 

25% on mobius on the celo network

printing money quite literally, whats even cooler is i can sit and watch it go up ??

ok.. thats sad and geeky but hey who cares 

Well-i don't want to s**t on your parade,but I can absolutely one up you

I currently at this precise minute hold £17.32 in Bitcoin and Ethereum,and put in a poultry 99p. Gonna sign mbappe with gains like that ???

[NottsRam77]

1 hour ago, bimmerman said:

Well-i don't want to s**t on your parade,but I can absolutely one up you

I currently at this precise minute hold £17.32 in Bitcoin and Ethereum,and put in a poultry 99p. Gonna sign mbappe with gains like that ???

Lol… impressive 

One of my biggest wins .. and by pure chance was i opened an etoro wallet when they were giving away 30 dollars of eth to tempt u to sign up…. Back in 2017…. Totally and utterly forgot about it til i unlocked my old phone, saw the app and it reminded me

opened it up and there was about 2 and half grand staring back at me ??

Dined out on that one to the mrs for weeks about how i was a financial genius … reality was it was total luck .. but she doesnt need to know that lol

[Stive Pesley]

How are people feeling about the ongoing crash?

https://www.bbc.co.uk/news/business-61375152

 

[RadioactiveWaste]

19 hours ago, Stive Pesley said:

How are people feeling about the ongoing crash?

https://www.bbc.co.uk/news/business-61375152

 

Jury is still out on if this is a "market correction" and is still part of crypo becoming a mature form of currency that will become used as readily as "regular" currency, or, the grand collapse of the endeavour before crypo goes back to being a niche thing for tech obsessives and people who don't want to use regular currency for transactions.

I'm far more highly amused by the drop of in NFTs. Right click, save as....

[Comrade 86]

Crypto values run in waves. You buy cheap, dump when the market starts to turn taking your profits and re-invest when the market bottoms out again. Broadly speaking, it's the same as with the stockmarket but far more volatile / exagerated which means that anyone trading crypto needs to checking ADA values very regularly.

This isn't the death of crypto that sceptics have been forecasting forever, it's just the bottom of the wave and folk are still making big money and will continue to do so. We've seen it before and we'll see it again. That said, folk thinking that they can manage their crypto portfolio in the same way that they would blue chip investments will probably have shat their beds by now. 

[GboroRam]

I appreciate that crypto is a lot more volatile than other investments, but I reckon there's a fair few soiled undergarments around. I'm glad I've not bought in in the last 2 years. Sad I didn't buy 10 years ago, but let's be honest, most people who will make serious money from crypto have already made it. It doesn't look like a get-rich opportunity, more likely a get-poor opportunity. 

[Comrade 86]

33 minutes ago, GboroRam said:

I appreciate that crypto is a lot more volatile than other investments, but I reckon there's a fair few soiled undergarments around. I'm glad I've not bought in in the last 2 years. Sad I didn't buy 10 years ago, but let's be honest, most people who will make serious money from crypto have already made it. It doesn't look like a get-rich opportunity, more likely a get-poor opportunity. 

I think that's a fundamental misunderstanding of how crypto trading is done. If folk have bought in midway through a wave or higher, then sure they're going to have messy sheets, but they do have the option of simply hanging on and waiting for the recovery. Most who trade will have bought cheap and traded out by now though and will be licking their lips at the prospect of returning to the fray again any day now, as will I. If you've pocketed an 800% return, you're not going to lose sleep over the additional 200% you could have taken had you been lucky enough to cash out at the very highest tip of the wave.

I think part of the problem is that many folk don't really grasp the value of blockchain related investments, mistakenly assuming it's purely notional. It's absolutely not. Many also conflate crypto with NFT. I myself remain suspicious of the latter, though I concede some make money on NFT releases too. That said, if folk invest heavily in something they don't understand and then sit idly by as values crash over a period of months (it's not just happened this week!), they really have only themselves to blame. That said, I'm a tech nerd so perhaps I'm being unfair.

Seems to me most folk fall into one of three groups; those who trade and make money, those who invest and sometimes make money, but can also find themselves on a sticky wicket and those who simply dismiss both strategies on a hunch. If you are prepared to do the research, making money trading is not too hard. If you're not, then crypto is not for you. 

[Eddie]

People still invest in unicorn wishes?

People are idiots.

[Tamworthram]

2 hours ago, 86 Hair Islands said:

I think that's a fundamental misunderstanding of how crypto trading is done. If folk have bought in midway through a wave or higher, then sure they're going to have messy sheets, but they do have the option of simply hanging on and waiting for the recovery. Most who trade will have bought cheap and traded out by now though and will be licking their lips at the prospect of returning to the fray again any day now, as will I. If you've pocketed an 800% return, you're not going to lose sleep over the additional 200% you could have taken had you been lucky enough to cash out at the very highest tip of the wave.

I think part of the problem is that many folk don't really grasp the value of blockchain related investments, mistakenly assuming it's purely notional. It's absolutely not. Many also conflate crypto with NFT. I myself remain suspicious of the latter, though I concede some make money on NFT releases too. That said, if folk invest heavily in something they don't understand and then sit idly by as values crash over a period of months (it's not just happened this week!), they really have only themselves to blame. That said, I'm a tech nerd so perhaps I'm being unfair.

Seems to me most folk fall into one of three groups; those who trade and make money, those who invest and sometimes make money, but can also find themselves on a sticky wicket and those who simply dismiss both strategies on a hunch. If you are prepared to do the research, making money trading is not too hard. If you're not, then crypto is not for you. 

Isn’t that exactly how most investments that can go up or down (E.g. stocks and shares) work? You buy and if the price drops, you decide whether to bail out or hold your nerve and hang on to your investment. Is Crypto trading any different?

[JoetheRam]

30 minutes ago, Tamworthram said:

Isn’t that exactly how most investments that can go up or down (E.g. stocks and shares) work? You buy and if the price drops, you decide whether to bail out or hold your nerve and hang on to your investment. Is Crypto trading any different?

No. In my opinion.

The technology is quite interesting and does have it's uses and will do into the future.  But the way some people bang on about the trading of it as though that in and of itself was something ground breaking you'd think no one had ever held any shares or traded currency before.

Edited May 12, 2022 by JoetheRam

[Comrade 86]

1 minute ago, Tamworthram said:

Isn’t that exactly how most investments that can go up or down (E.g. stocks and shares) work? You buy and if the price drops, you decide whether to bail out or hold your nerve and hang on to your investment. Is Crypto trading any different?

Broadly speaking, yes, but in some very significant ways, they are also very different. I'm not going to spend any time trying to convince sceptics to stick money into crypto, indeed if you read my post I think I've tried to do the opposite. I'm just politely pointing out that those who put the work in can make tidy sums for their efforts, very quickly and those who 'bet blindly' most often won't, especially if they do so expecting year on year growth akin to stocks and shares. 

[Tamworthram]

3 minutes ago, 86 Hair Islands said:

Broadly speaking, yes, but in some very significant ways, they are also very different. I'm not going to spend any time trying to convince sceptics to stick money into crypto, indeed if you read my post I think I've tried to do the opposite. I'm just politely pointing out that those who put the work in can make tidy sums for their efforts, very quickly and those who 'bet blindly' most often won't, especially if they do so expecting year on year growth akin to stocks and shares. 

The point in bold is also true of investments in stocks and share.

Regarding not expecting year on year growth, I’m not intending to challenge you or expecting you to convince me to invest in crypto - there is no way I will but, I’m genuinely interested - are you saying investing in a specific crypto is only for short term gains?

[Comrade 86]

2 minutes ago, Tamworthram said:

The point in bold is also true of investments in stocks and share.

Regarding not expecting year on year growth, I’m not intending to challenge you or expecting you to convince me to invest in crypto - there is no way I will but, I’m genuinely interested - are you saying investing in a specific crypto is only for short term gains?

Not at all. I trade a little now and will be going in again soon enough, but my first 'investments' I pretty much left in place for the thick end of three years. On reflection however, I think I got lucky and I think that trading rather then 'investing' offers a far lower risk profile for broadly similar returns. A mate of mine's son inherited £5k and traded it to over £700k in 16 months. That's pretty tough to achieve playing the stockmarket or trading standard currencies.