Which crypto have you got in your portfolio?

[MsFogi]

Over the coming year I'm planning to drip feed some of my cash into a few crypto currencies (I plan to end up with about £30K exposure).
The obvious ones are of course Bitcoin and Ethereum (and I see there is a Ethereum 2??) - have any wise MNers got any advice for me on whether there are others I should look at and any advice more generally (I'm going to use coinbase)? Thanks

Amazing how?

My partner follows a system called the plan and has done for a while. He does ok buying and selling small amounts. His profit for the last 6 months is paying for a very nice cruise next year so I’m not complaining. He just leaves it and doesn’t panic when his holdings fall.

It’s amazing how none of the algorithmic hedge funds have picked up on this system that your husband has.

I’d call that speculative at best, gambling at worst. You’re really relying on ‘bigger fool theory’ here

Which is pretty much my view. The underlying technology is interesting, and will likely show up in all sorts of innovative ways in the future, but anyone trying to use that as a reason why Bitcoin will go up in price is a fool or a charlatan.

It’s not as though I don’t understand it either (I had a team under me in my previous role whose job it was to guide clients through the minefield that cryptocurrency and NFTs are), I just don’t see any conceivable reason to assume that Bitcoin or any of the other main cryptos should outperform more traditional investments.

I know that the fans like to poo-Pooh the idea that the price is in any way like that if tulip bulbs or the South Sea company, but I’ve yet to see one explain why.

Mississippi Company springs to mind!

It’s amazing how none of the algorithmic hedge funds have picked up on this system that your husband has.

🤣🤣🤣

I’m wondering how the bitcoin and crypto community is feeling at the moment?

The threads are surprisingly quiet at the moment....

Been buying a bit each month whilst it's on sale waiting for the next bull market. Another 2-3 years

There is not going to be another bull market for Cryptocurrency or at least nowhere near the highs of 2021. Crypto currency went up in a perfect storm. A lot of people locked down in their houses with nothing to do whilst governments worldwide printed money and gave it away.

Yes a lot of people made money on the way up. But a lot of people will be losing it on the way down.

A simple transfer of money between the people who worked out what was going on and those that did not.

Sadly a lot of people have convinced themselves that it will go back up again.

You should see the Nasdaq, ftse, aim and hang sent threads!

None of them are down anything like crypto.

Honestly, you guys should invest in the new COPE coin I’m selling. I’m minting NFTs in the form of Elon Musk dressed as various anime characters. Retail price is £10,000 each, but for current crypto investors, I charge only £9,999. That’s a steal.

I love seeing these mugs think the free money spigot will be turned up to 11 again to make their imaginary money tokens worth something. All the rug pulls, and they still don’t get it. Amazing content.

The number of people who put all their savings into crypto is amusingly high. How’s that financial saying go again? Put all your eggs in one basket or something?

How so? FTSE’s about flat on the year, Hang Seng and NASDAQ are off about 30% each, but few U.K. investors are likely to have more than a couple of percent at most of those in their portfolio.

If you look at the posts on Twitter by “investors” in Terra / Luna and in the Celsius network, all of whom have likely lost everything that they invested, the majority still seem to believe that there’s some mystical way back; that the money that they put in continues to be floating around out there somewhere, and it’ll come back.

They are delusional. Their money has all gone, yet they continue to believe.

You love seeing strangers lose money?

Odd pastime I must say

Gullible people falling for obvious scams and getting suckered never gets old. Maybe they can shut the fuck up about how awesome DeFi is now they’re in the poor house (but not their totally
legit scam coin originators, though. They made off with the cash).

If it’s any consolation, watching Musk burn $44bn. to become the main character of Twitter and get dunked on by literally everyone is more enjoyable right now.

You should see the Nasdaq, ftse, aim and hang sent threads!

I've been on threads recently about interest rates, mortgages, falling investments particularly S&S, pensions & also best savings account. All fairly typical during economic woe. However I do find it odd that there are no similar threads worrying about their investment in crypto because a lot of posters have claimed they have made a fortune/invested a lot into it. Now it could be that the crypto investors are just far more savvy & cooler customers than those who have invested in other things...

Crypto is collapsing at the moment, as a result of the FTX meltdown.

I do think tho, that FTX and similar centralised exchanges are likely to have a higher proportion of male users relatively speaking - that kind of fast, high-risk, cocaine fueled leverage has a lot of toxic masculinity circulating around it.

So I suspect that cryptofems are probably less badly affected.

But yeah, its rough, and there is still more pain to come.

Crypto is collapsing at the moment, as a result of the FTX meltdown

Try looking at the all time graph for each cryptocurrency. This is nothing to do with the FTX news. The whole deck of cards has been crumbling for months.

Its not tho, thats the weird thing.

This is like Leman's, Maddoff and Enron all rolled into one and the crypto market is barely down 20% on the week.

Either we are about to fall hard, or actual crypto crypto has been little affected, and it was all fake dollars that have been lost.

The smartest people I know are getting into crypto, prosecutors and bankruptcy lawyers...

Most of it is a scam run by a bunch of crooks. A few days ago somebody has run off with billions. Nice.

If @Twilight7777 held his/her xrp and xlm, well done, you are going to do really well.

I totally agree, if you cross paths with the wrong trading app or a broker promising you instant high returns, it's most likely a scam. There are people that I heard are doing really well though, especially since January this year 2023. But I started reading this thread because the other day I got a random call from a broker by this uk number 07915608643 saying he can make me double my return in a week if I send them $2000. Then later that day I got a text saying that $2000 would be automatically debited from my account for a purchase of Bitcoin, press '1' if I accept, or '2' if decline. Who does this? must be scammers. I tried to block them using a caller app ( tellows.co.uk/num/07915608643 ).