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Kilworthfox

Investing in Cryptocurrencies

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Hi Guys,

 

I have recently looked into Cryptocurrencies, how they work and their values...

 

I am looking to see if anyone fellow foxes are also involved, and to share any knowledge, to help each other.

 

There has been another rise in the value of these cryptocurrencies in the last week, it seems that there will be more upcoming... considering the continual devaluation of the traditional FIAT currencies.

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3 hours ago, Kilworthfox said:

Hi Guys,

 

I have recently looked into Cryptocurrencies, how they work and their values...

 

I am looking to see if anyone fellow foxes are also involved, and to share any knowledge, to help each other.

 

There has been another rise in the value of these cryptocurrencies in the last week, it seems that there will be more upcoming... considering the continual devaluation of the traditional FIAT currencies.

Not seen anyone mention this crap since 2017 and the last all time high. Took 3 years and a pandemic to get back to where it was. Just remember these things fall just as easily as they rise. By all means invest if you fancy it, but don't be putting life savings into it, could get burned the same as the last round of people scared of missing out.

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I bought about 200 of Ripple (XRP) when it was at about 2p, rose to about 3 quid each and I thought I was on to the new bitcoin. Kept it all and it plummeted and sat at about 20p for a few years. Stopped bothering to check it months ago, just looked because of this thread and they're about 50p each. Rolling in it.

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Bought in during the big rises back in 2018 - ended up 75% down after the collapse.

 

Managed to Dollar Cost Average down during this down period such that i'm now up about 50% in profit given the recent rises, albeit it's paper money right now.

 

100% in Ethereum here.

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19 minutes ago, whoareyaaa said:

the boom has been and gone about 3 or  4 years ago you could buy 1 bitcoin @ £300 and within a few months it was up to £9,000 now its just small increases 

To be fair after the big boom, it went down 75% and has now increased 700% since the crash. I think if you got on it early or right after the big crash you are rolling in it. I think going in now though you are just gambling. 
 

on another note I put a little of my investment fund in a Bitcoin mining company earlier this month and that is 140% so far. Big rise today. (Just a shame my investment fund is so small) 

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On 30/11/2020 at 20:33, whoareyaaa said:

the boom has been and gone about 3 or  4 years ago you could buy 1 bitcoin @ £300 and within a few months it was up to £9,000 now its just small increases 

I had 5 free when they very first came out but i ain't got a clue what the website was or my username.

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On 02/12/2020 at 06:56, yorkie1999 said:

I had 5 free when they very first came out but i ain't got a clue what the website was or my username.

Reminds me of that episode in Big Bang Theory where they had mined a load of bitcoin some years before, now worth a fortune, but it turned out that Stuart had formatted the flash drive containing them so that he could resell it.

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3 hours ago, ozleicester said:

 

was $100.... now $20000
2014 man.. if i had bought then lollol

Early 2010 less than 1/10 of a cent, by july they had gone up to 8 cents! They gave them away for free so you could mess about trying to figure out how it worked.

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  • 2 weeks later...
4 minutes ago, simFox said:

Crypto is the future, I'm no investor, but I just buy some from time to time so I'm holding a few, seeing how they go. Mostly bitcoin, but I have ripple, tezos, ethereum, steller, lite coin, omg and something else.


Do you have to be a computer whizz to be able to manage what you have? 

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27 minutes ago, simFox said:

Crypto is the future, I'm no investor, but I just buy some from time to time so I'm holding a few, seeing how they go. Mostly bitcoin, but I have ripple, tezos, ethereum, steller, lite coin, omg and something else.

If it is, it'll be crypto backed up by governments with tax revenues to support it.  It won't be run by anonymous computer whizzkids.

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22 minutes ago, dsr-burnley said:

If it is, it'll be crypto backed up by governments with tax revenues to support it.  It won't be run by anonymous computer whizzkids.

They seem to be doing very well so far, like billionaires! I'm sure you've done your research however.

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19 minutes ago, Kilworthfox said:

They seem to be doing very well so far, like billionaires! I'm sure you've done your research however.

I'm not denying that the computer whizzkids have made a shedload of money out of it.  But I don't think that's a strong or even valid reason to suppose that a currency dreamed up by them will replace a currency backed a government and (indirectly) its people.

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3 hours ago, simFox said:

Crypto is the future, I'm no investor, but I just buy some from time to time so I'm holding a few, seeing how they go. Mostly bitcoin, but I have ripple, tezos, ethereum, steller, lite coin, omg and something else.

You got whizzbanger mate? That’s the real deal.

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