Crypto

octatonic

Cheers, will check it out.

stratology

Emp_Fab said:

So what you're saying is that I should spend everything I have on buying bitcoin? 

No. Think of it like buying a lottery ticket. Expect to lose the money you spend. And, like with a lottery ticket, it's possible to win big, if you're patient or lucky.

Cryptocurrency is, arguably, a better investment than buying a lottery ticket, because the chance that your £5 go to £0 is smaller with crypto.

At the same time, spending £10,000 on lottery tickets may not a reasonable investment. Same with crypto (unless you're a multimillionaire, and spending £10,000 is nothing to you..).

LastMantra

You can use it to buy shit off the dark Web.

stratology

Off topic:

Imogen Heap's Creative Passport project uses blockchain technology, which was created as a part of cryptocurrencies, to try to get better and fairer payments for musicians.

One of the most interesting developments in recent years. 

ToneControl

Bitcoin now down about 30% from its peak 9 days ago

yocky

Attn buyers at $30k - your train is about to leave the station. Direction uncertain.

Cirrus

It's a bit fucked,

Simonh

a bit fucked? the only thing worse that the state of the market at the moment is all the cyrpto youtubers incessant videos about how everything is going to the moon in the next 2 days so buy all you can now

digitalscream

Heh...Chia's still trying to find the floor. $1600 -> $200 in six weeks is a pretty impressive drop

Still, I've had a bit of fun in the challenge of getting a high-performance plotting machine out of 9-10yr old parts, so I'm cool with it. Plus it's been forked now, so I'm farming four coins with the same plotted resources at next to zero costs.

Who knows? Maybe one of them will get listed at a silly price and I'll manage to break even

DefaultM

Just bought another £25 worth *rocket*

RaymondLin

Doge has dropped quite a lot, half down from last week. Still…it’s 4x the value when I sold it!

Lebarque

digitalscream said:

Heh...Chia's still trying to find the floor. $1600 -> $200 in six weeks is a pretty impressive drop

Still, I've had a bit of fun in the challenge of getting a high-performance plotting machine out of 9-10yr old parts, so I'm cool with it. Plus it's been forked now, so I'm farming four coins with the same plotted resources at next to zero costs.

Who knows? Maybe one of them will get listed at a silly price and I'll manage to break even

Is this even English?! ;0)

RaymondLin

Lebarque said:

digitalscream said:

Heh...Chia's still trying to find the floor. $1600 -> $200 in six weeks is a pretty impressive drop

Still, I've had a bit of fun in the challenge of getting a high-performance plotting machine out of 9-10yr old parts, so I'm cool with it. Plus it's been forked now, so I'm farming four coins with the same plotted resources at next to zero costs.

Who knows? Maybe one of them will get listed at a silly price and I'll manage to break even

Is this even English?! ;0)

Chia is a crypto using HDD to mine as opposed to graphic cards, it’s done via “plots” which is space allocated in the HDD.  Think of it like planting seeds in a field and you need a lot of space for the seeds to grow.  In this case, the space is the hard drive.

plotting machine is his PC with lots of hard drives.

WiresDreamDisasters

Clint

Hi all - long time lurker here… interesting reading with your thoughts on crypto, anyone now entered into the world via PayPal. Thoughts on this? Seems the safest means to try it out to a noob like me (and already having a PayPal account)

RandallFlagg

I put £2K into Crypto via Coinbase in May spread across Bitcoin, Ethereum, Cardano and a little bit in Cosmos & Polygon. In 4 months I've been 12% up and over 50% down at some point since then, currently sitting around £1,960.

I've been following Bitboy Crypto and his blockchain chums on Youtube and they appear to have made significant money by buying early (pre-2018) and taking profits on the peaks but I'm coming to the conclusion that they all talk bollocks and have no real clue what is going to happen in the future.

Bitboy has predicted end of September as the end of this bull run with Bitcoin to hit $100K price before then. Not sure that's going to happen as @Simonh says above they are constantly pumping out clickbait videos calling the last chance to buy at these prices before it all goes parabolic, I assume mainly to drive up their real income of YouTube revenues.

I do think that blockchain and crypto currency has enormous potential and the genie is out the bottle and not going back in, Charles Hoskins work at Cardano to bring products that will allow secure defi in 3rd world countries clearly has a real purpose beyond that of the meme coins. It's also clear that the financial institutions are fearful of losing billions and are trying to get their heads around it all. The crypto market is currently valued at around $2 trillion and will increase over time.

The SEC are threatening to move against Coinbase's new product Lend, which will guarantee a 4% apr for depositing into stable coin USDC could tempt millions of people to move their cash savings from the traditional banks where your money loses value so it's no surprise there are moves to block it by the gentleman's club crusties.

Also, the SEC have been constantly deferring a decision to approve VanEck's Bitcoin ETF shows that they either don't understand how to handle Crypto or are being pressured by the institutions to slow the whole thing down.

I had hoped to be in profit by now but will patiently keep hodling and take some profit along the way when I can but plan to keep a small amount of money in for the long term just in case it does go "parabolic" again in the future.

DefaultM

I don't listen to the youtubers, except maybe Coin Bureau. I quickly realised that they're basically just posting videos reacting to whats already happened. The market rises and a video comes out 'WOAH XXX COIN IS FLYING! STRONG BUY. BTC $174937565 BY YEAR END?!'
Market drops "JUST KEEP HODLIN GUYS BTC $181515456764161 BY END OF THE WEEK?!"

sixstringsupplies

YouTube crypto channels are all diabolically hilarious. I do spend hours a day watching them though

Anyway, Six String Supplies now accepts crypto as a payment option (obviously debit/credit card and PayPal are still viable) We accept Bitcoin, Ethereum and USDC as payments.

I fully expect if you ask me in 12 months from now how many orders we have received with payment made in crypto, it will be counted on one hand....but we shall see.

Crypto adoption is starting to become more and more mainstream and everyday there seems to be a large business moving into the crypto world.

I am personally invested in Ethereum, Solana and Cardano. Bring on the metaverse, DEFI and play to earn gaming. 

Simonh

I am currently doing quite nicely with enjin, and ripple is there or thereabouts, just wish the court case would come to a conclusion so we could get either a big crash or big gain.