CryptoCurrency Who Plays?

[DannyG]

Does anyone on here dabble in Cryptocurrency?

I am working with some new casuals for the last year or so and all they do is ramble on about trading crypto money. So much so that I thought I may as well have a bit of a play myself.....you know, a bit like going to the casino.....Im only spending money I am willing to donate

I dont know a lot about it in the big scheme of things and I was one of these people people that always thought bitcoin was some sort of a scam.

What are your thoughts.

[MDS69]

The guy I sit next to at work just withdrew some money from his "wallet" I think it was called. He purchase about $2k worth of bitcoin (I don't know how long ago) and his investment was worth $9k late last week so he cashed in but kept his original amount in his account.
The guy that sits over from me dabbles in mining shares mostly obscure ones but has around $15k out there in the share market. He also dabbles in crypto currency but not bitcoin.
I just wish I had a few dollars to play with to have a go.

[paceman]

I got out of Bitcoin and started at the bottom with ChainLink... got 4 and a bit 'coins'

Hopefully it will be like Bitcoin in a few years...


Sent from my iPad using Tapatalk

[lloydus67]

I haven't played, but a couple of mates at work do.
They told me that the like of ethereum, litecoin, neo etc are purchased using bitcoins and so many gains are cancelled out by opposing drops
Ie ethereum goes up, Bitcoin goes down, so little actual profit these days.
Most of them have kept a small amount as stock, but are not really trading until things change.
Lloyd


Sent from me

[Ozemu]

Have a look at Qoin, interesting little thing going on there.

[lloydus67]

Qoin is the old bartercard system.
It was a little unsuccessful as who wants to trade a new phone for 2500 coffees or some other similar trade.
Maybe the currency will do a little better


Sent from me

[GBC]

I haven't played, but a couple of mates at work do.
They told me that the like of ethereum, litecoin, neo etc are purchased using bitcoins and so many gains are cancelled out by opposing drops
Ie ethereum goes up, Bitcoin goes down, so little actual profit these days.
Most of them have kept a small amount as stock, but are not really trading until things change.
Lloyd


Sent from me

Usually accurate, but since Musk grabbed $1.5b worth of Bitcoin there have been gains everywhere. I have all of those and a couple more. My portfolio has doubled in the past few weeks but prior to that sat for a year or two.
Buying in now with Bitcoin at all time high would not be recommended. If you were a gambler you'd go all in against it right now. There is little rhyme to it all and it is gambling at best. It keeps me interested though. Like anything, time in the market is the trick. I bought in when neo was called Antshares in 2016 so I'm doing ok.

[edz]

So when you blokes make your first $100.000 in Bit coins can you draw it out as real cash ? or go buy a new Cruiser with it ?  ..Never heard of anyone actualy getting anything  with it, just asking  .
A couple of blokes at work reckon theyre raking it in, But an honest  " So why are you still here working in this Shithole " is met with mumbles and  change of subject  .

[GBC]

So when you blokes make your first $100.000 in Bit coins can you draw it out as real cash ? or go buy a new Cruiser with it ?  ..Never heard of anyone actualy getting anything  with it, just asking  .
A couple of blokes at work reckon theyre raking it in, But an honest  " So why are you still here working in this Shithole " is met with mumbles and  change of subject  .

Of course you can. I bought a boat with profits a few years back. You also need to declare income and pay tax in Australia. You can buy a Tesla with Bitcoin without converting currency. There are also crypto credit cards which do instant conversions. The handling fees on those are more than normal fiat though so not worthwhile in my case.

[edz]

Ok cool thanks .

[Bird]

The Dogecoin joke is turning serious as it soars towards $US90 billion

https://www.smh.com.au/business/markets/the-dogecoin-joke-is-turning-serious-as-it-soars-towards-us90-billion-20210506-p57paf.html

[DannyG]

The Dogecoin joke is turning serious as it soars towards $US90 billion

https://www.smh.com.au/business/markets/the-dogecoin-joke-is-turning-serious-as-it-soars-towards-us90-billion-20210506-p57paf.html

yeh its been going off.....like anything to do with shares or any market for that matter.....you need to have bought in at the right time and know when to sell out lol

[Bird]

yeh its been going off.....like anything to do with shares or any market for that matter.....you need to have bought in at the right time and know when to sell out lol

yea been watchin it, its been steady for few days, but its a lottery.. as you said - you need to watch it like stocks.


ALICE +21532.02% and rocketing... one day...
within few days - ALICE -31.39%


over to the shadow

[DannyG]

yea been watchin it, its been steady for few days, but its a lottery.. as you said - you need to watch it like stocks.


ALICE +21532.02% and rocketing... one day...
within few days - ALICE -31.39%


over to the shadow

It is a lottery and there is a lot of risk involved. Crypto more so than shares appears to be dictated by large groups playing games with the different currencies. There are forums and other social media groups you can join and get involved to 'play' the games and make a bit of money but it requires a lot of time and dedication. I dont have either LOL

But for those with the time and education I can definitely see money to be made in crypto. (and lost!!)

[Bird]

But for those with the time and education I can definitely see money to be made in crypto. (and lost!!)

one of hte guys that used to work here is playing while unemployed, built up a couple of PC's with 3080s in them and hes making a profit, but not enough to retire on.

[GBC]

yeh its been going off.....like anything to do with shares or any market for that matter.....you need to have bought in at the right time and know when to sell out lol

It's a pump and dump scheme for Musk this week. One tweet set this lot off. Guaranteed he had his bag long before the tweet and he will offload it before Saturday night. Small investors need to not chase whales.

[rexy03]

This says it all about what i think of cryptocurrencies.
https://mishtalk.com/economics/dogecoin-created-as-a-joke-is-the-epitome-of-greater-fool-mania

[Bird]

Anyone can.... depends how much space you got and if you can get ya hands on some GPU's... lol...

[Bird]

https://www.coindesk.com/price/dogecoin

its a bloodbath in crypto chinese miners selling off btc to fund their moves to other countries driving the price down

once they set up it'll soar  good time to buy in with this crypto sale lol

YMMV

[paceman]

just like any investment...

it's not about timing the market, it's time IN the market...

[chester ver2.0]

Anyone can.... depends how much space you got and if you can get ya hands on some GPU's... lol...

True but the issue with mining these days is the server farm needs to be so big that any profits through the coin are lost when the first power bill comes in

[Bird]

True but the issue with mining these days is the server farm needs to be so big that any profits through the coin are lost when the first power bill comes in

... come on, we all have a sparky mate that can ... fix which side of the box the power comes from