Post by: DannyG on February 19, 2021, 07:14:06 AM
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.
Post by: MDS69 on February 19, 2021, 08:02:57 AM
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.
Post by: paceman on February 19, 2021, 08:20:42 AM
Hopefully it will be like Bitcoin in a few years... :)
Sent from my iPad using Tapatalk
Post by: lloydus67 on February 19, 2021, 10:11:30 AM
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
Post by: Ozemu on February 19, 2021, 11:44:30 AM
Post by: lloydus67 on February 19, 2021, 11:50:34 AM
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
Post by: GBC on February 19, 2021, 02:42:41 PM
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.
Post by: edz on February 20, 2021, 09:43:23 AM
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 .
Post by: GBC on February 20, 2021, 10:25:50 AM
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.
Post by: edz on February 20, 2021, 10:28:29 AM
Post by: Bird on May 06, 2021, 10:24:14 AM
https://www.smh.com.au/business/markets/the-dogecoin-joke-is-turning-serious-as-it-soars-towards-us90-billion-20210506-p57paf.html (https://www.smh.com.au/business/markets/the-dogecoin-joke-is-turning-serious-as-it-soars-towards-us90-billion-20210506-p57paf.html)
Post by: DannyG on May 06, 2021, 10:34:35 AM
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 (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
Post by: Bird on May 06, 2021, 10:54:12 AM
Quote from: DannyG
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 lolyea 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
Post by: DannyG on May 06, 2021, 11:03:14 AM
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!!)
Post by: Bird on May 06, 2021, 11:59:10 AM
Quote from: DannyG
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.
Post by: GBC on May 06, 2021, 01:34:59 PM
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.
Post by: rexy03 on May 07, 2021, 01:30:19 PM
https://mishtalk.com/economics/dogecoin-created-as-a-joke-is-the-epitome-of-greater-fool-mania
Post by: Bird on June 16, 2021, 03:57:44 PM
(https://www.extremetech.com/wp-content/uploads/2021/04/Chia-Onda-D32H-D4-Feature-640x353.jpg)
Post by: Bird on June 22, 2021, 10:41:43 AM
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 :D
YMMV
Post by: paceman on June 23, 2021, 09:26:34 AM
it's not about timing the market, it's time IN the market...
Post by: chester ver2.0 on June 23, 2021, 09:54:02 AM
Anyone can.... depends how much space you got and if you can get ya hands on some GPU's... lol...
(https://www.extremetech.com/wp-content/uploads/2021/04/Chia-Onda-D32H-D4-Feature-640x353.jpg)
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
Post by: Bird on June 23, 2021, 10:28:36 AM
Quote from: chester ver2.0
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 :D