The Crypto coin thread

[coppice cutter]

20 minutes ago, Steve Bullman said:

Its one massive sale! I dont think its going to be going up for a couple years either.

At what point would one consider buying?

[Steve Bullman]

1 minute ago, coppice cutter said:

At what point would one consider buying?

Who can say, if anyone knew where the bottom was they'd be a very rich man indeed. The general option is to dollar cost average buy, that is to say if you have bought at a price and it continues to drop, buy more to lower the average cost of what you paid.

 

I have mostly been buying 2 coins as they drop, but currently they are still going..they might drop to zero and never recover, who knows.

 

Don't think bitcoin itself is going anywhere, just be prepared to sit on anything you invest for a good couple years. Most of my coins are 5 year investments. What happens between now and then is mostly irrelevant to me.

 

Oh and as always, don't invest more than you can afford to lose!

[coppice cutter]

18 minutes ago, Steve Bullman said:

 Most of my coins are 5 year investments.

So you're still well ahead.

 

Surely there's a temptation to get out?

 

*edit* - sorry misread that as you having had them for five years already, so maybe you're not!

Edited June 15, 2022 by coppice cutter
misread

[Steve Bullman]

1 minute ago, coppice cutter said:

So you're still well ahead.

 

Surely there's a temptation to get out?

I reckon i'm just a little bit down currently. Some of my coins are down as much as 50%, others I got in quite low at and have earned a lot in interest and cashback which has made up for the shortfall.

 

Not tempted to get out now, thats how you lose money.

[coppice cutter]

Braver (or richer!) man than I.

[Deafhead]

Steve Bulman is about right, you have to sit out the crash (I did in the eighties) it usually pays off. I looked at crypto a few weeks back when it first fell and thought that I might have a small punt, however I have found it impossible to get Blockchain to verify my identity. So I suppose that I have dodged a bit of a bullet. When times get hard the only things that have value are a bucket of gold and a field to bury it in, or so I've been told.

[Haironyourchest]

1 hour ago, Deafhead said:

Steve Bulman is about right, you have to sit out the crash (I did in the eighties) it usually pays off. I looked at crypto a few weeks back when it first fell and thought that I might have a small punt, however I have found it impossible to get Blockchain to verify my identity. So I suppose that I have dodged a bit of a bullet. When times get hard the only things that have value are a bucket of gold and a field to bury it in, or so I've been told.

In Utah USA, there's a local state currency called "goldbacks". A law was passed in 2011 making it legal tender in Utah, so shops etc have to accept it. Gold leaf notes in a polymer laminate - most gorgeous looking currency ever. Comes in denominations of thousands of an ounce, which roughly corrospond to $5, $20 etc...

 

[Steve Bullman]

  Bitcoin is simply following the same cycle as it has for the last 10 years. It’s not so much of a crash as it is a predictable event happening around about the timeline it was expected. only thing different this time around is the whole world is on the brink of financial collapse. 

[Deafhead]

1 hour ago, Haironyourchest said:

In Utah USA, there's a local state currency called "goldbacks". A law was passed in 2011 making it legal tender in Utah, so shops etc have to accept it. Gold leaf notes in a polymer laminate - most gorgeous looking currency ever. Comes in denominations of thousands of an ounce, which roughly corrospond to $5, $20 etc...

 

Back to the gold standard then.

[Mick Dempsey]