Random Questions: Have A Baby By Me, Baby Be A Millionaire! The BitCoin/LiteCoin Thread


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ginner
ginner avatar

325 posts since 15/4/14

9 Jan 2021 10:26
Who doles out BTC as an xmas gift??

Mate in FX trading 2 years back set out a strategy I really wished I had followed. He is one of these guys you see on the BBC business section or bloomberg saying what they think will happen for the firm he works for. Said he was going to drip feed a few hundred a month into BTC and Ethereum over a few years and just ride the wave. At the time I though thats a great idea I will do the same. Never did!

Did average a 30% return on my isa and pension last year though so not all bad.
RickRude
RickRude avatar

3890 posts since 13/1/12

9 Jan 2021 10:27
What ISA you using Ginner?
Ocin
Ocin avatar

1389 posts since 4/6/04

posted 11 Jan 2021 15:54, edited 11 Jan 2021 15:54
Over the weekend I had 3 mates (who are equally clueless at investing) text me with varying messages of bullishness for Bitcoin:

'I'm lumping on first thing Monday'
'If I bought in 2012 I'd be a millionaire'
'I'm up 80% in 3 weeks' etc.

Had a look, its down almost 20% in a day Laughing out loud hopefully they didn't buy in first thing
Kadafi39
Kadafi39 avatar

1987 posts since 30/10/09

11 Jan 2021 16:27
$40k dollars a coin is absurd though, there had to be a correction. Saying that I think the current £32k is still absurd and I wont pretend I know anything much about crypto as it will probably be $50k+ in a year.
Mosoona
Mosoona avatar

384 posts since 25/5/15

11 Jan 2021 17:00
Crypto seems to soar when there’s uncertainty/unrest, so last week was perfect for it. For investment opps, keep an eye on BTC mining/blockchain stocks when BTC is in the news. Not convinced by any of them as long term holds, but if there’s a whiff of crypto news gripping mainstream media, they usually run well for a week or so.
swede
swede avatar

9827 posts since 21/3/09

11 Jan 2021 17:11
Ocin wrote: Over the weekend I had 3 mates (who are equally clueless at investing) text me with varying messages of bullishness for Bitcoin:

'I'm lumping on first thing Monday'
'If I bought in 2012 I'd be a millionaire'
'I'm up 80% in 3 weeks' etc.

Had a look, its down almost 20% in a day Laughing out loud hopefully they didn't buy in first thing

it's a strong sell signal when normies get in on it like that. same divs that call it "bitcoin stock"
darko
darko avatar

1065 posts since 4/10/12

posted 11 Jan 2021 17:56, edited 11 Jan 2021 17:56
Mosoona wrote: Crypto seems to soar when there’s uncertainty/unrest, so last week was perfect for it. For investment opps, keep an eye on BTC mining/blockchain stocks when BTC is in the news. Not convinced by any of them as long term holds, but if there’s a whiff of crypto news gripping mainstream media, they usually run well for a week or so.

Argo Blockchain, Marathon and Riot are good shouts. All taken a battering today though compared to some nice gains last week

Argo (ARB) are pretty good value at £1 a share and have a lot of exciting growth planned this year from what I've read. Mara and Riot both in their 20s
toin
toin avatar

2067 posts since 1/4/13

11 Jan 2021 18:33
swede wrote: it's a strong sell signal when normies get in on it like that. same divs that call it "bitcoin stock"


Have heard this multiple times in the last four years, just something people say to sound knowledgeable but doesn't mean anything.
joeyjojo
joeyjojo avatar

4615 posts since 24/8/06

11 Jan 2021 18:54
Which bit ?
Trent
Trent avatar

2041 posts since 18/1/09

11 Jan 2021 21:56
Is it not the same divs that thought to buy in at 10k when it was mad, then 20k when it was mad, then 30k…
toin
toin avatar

2067 posts since 1/4/13

11 Jan 2021 22:11
@joey

That normies are getting in and its too late.
I’ve heard people say that before I got in and it was still 300 euro per bitcoin back then.
R
R avatar

13294 posts since 17/5/03

12 Jan 2021 01:37
toin wrote: @joey

That normies are getting in and its too late.
I’ve heard people say that before I got in and it was still 300 euro per bitcoin back then.

agreed and getting away from bitcoin, tesla has proved that isn't the case. I sold in July at what was then a record high. Everyone has seen what's happened subsequently.
swede
swede avatar

9827 posts since 21/3/09

12 Jan 2021 07:12
Trent wrote: Is it not the same divs that thought to buy in at 10k when it was mad, then 20k when it was mad, then 30k…

And what happens immediately after? The price falls and they all paper hands it and sell. Good on them if they hold

Btw I’m not advocating timing the market… never works out for me. Time in the market > timing the market
sydneyking
sydneyking avatar

5028 posts since 26/9/09

posted 12 Jan 2021 07:37, edited 12 Jan 2021 07:37
Ocin wrote: Over the weekend I had 3 mates (who are equally clueless at investing) text me with varying messages of bullishness for Bitcoin:

'I'm lumping on first thing Monday'
'If I bought in 2012 I'd be a millionaire'
'I'm up 80% in 3 weeks' etc.

Had a look, its down almost 20% in a day Laughing out loud hopefully they didn't buy in first thing

I don’t profess to be an expert but it feels like more of a risk to me not to invest than to invest. I’ve said previously I won’t put more than £2k into crypto due to the volatility. It dropped 20% ish yesterday, though it would have had to drop more than 50% to be where it was at the start of December.

Buy in the dips. There’s a ton of analysts claiming it’ll top $100k + this year. For those sort of potential returns it has to be worth a punt and it is just a punt
Trent
Trent avatar

2041 posts since 18/1/09

12 Jan 2021 09:51
swede wrote:
Trent wrote: Is it not the same divs that thought to buy in at 10k when it was mad, then 20k when it was mad, then 30k…

And what happens immediately after? The price falls and they all paper hands it and sell. Good on them if they hold

Btw I’m not advocating timing the market… never works out for me. Time in the market > timing the market

Yeah I guess that's my point. If they buy after the dip yesterday and hold for a few years, I don't think anyone could forecast that it wouldnt beat a standard savings account. If not, hey ho, nothing ventured nothing gained.
ginner
ginner avatar

325 posts since 15/4/14

12 Jan 2021 13:18
RickRude wrote: What ISA you using Ginner?

AJ Bell.
stoney
stoney avatar

17757 posts since 22/1/05

15 Jan 2021 17:06
Anyone know anything about Pi network ? Mates trying to tell me it’s decent. Looks like a pyramid scam
illwill
illwill avatar

4137 posts since 17/5/04

posted 15 Jan 2021 17:14, edited 15 Jan 2021 17:14
I'm not saying that Pi Network is a pyramid scheme but if I was writing a script that featured a pyramid scheme I'd probably call it something like "Pi Network".
toin
toin avatar

2067 posts since 1/4/13

15 Jan 2021 17:20
https://zephyrnet.com/project-review-pi-network-a-new-scam-project-in-town/
Byte
Byte avatar

3032 posts since 16/6/10

15 Jan 2021 17:21
It's a shitcoin with no real use.