20i Domains

The investment of the future

Discussion in 'The Bar' started by Murray, Jan 24, 2021.

  1. JMI

    JMI Active Member Acorn Supporter

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    Look I'm up to my neck crypto/altcoins/nft for the last 6 months I doubt many people here have gone as deep as I have with thousands invested in Bitcoin, Ethereum, XLM, ANKR,. My trustwallet is exploding with billions of shit coins like Safemoon, Safemars, Bonfire, Shiba, Akita, Zepplin Dao - I'm classed as a whale. I've got NFT coins Ecomi and I even went in for the Refinable shite backed by Mr Beast released the other day and got proper done on that ICO scam.
    On top of that I bought 5 shares on Coinbase went IPO launch luckily only 1 at $315 the rest between $213 and $230 (I think still overpriced but we'll see)

    I listen to nearly all the hype, AMAs, constantly monitoring if these shitcoins passed their Certik audits, YT video updates etc etc, along with constant notifications for multiple telegram groups so I think its fair to say I'm not biased towards crypto, but I'm a brutal realist. I'd tell you my conclusion to all this if anyone is interested :rolleyes:
     
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    Last edited: May 27, 2021
  2. Domain Forum

    Acorn Domains Elite Member

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    articles.co.uk
     
  3. Siusaidh

    Siusaidh Well-Known Member

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    Anyone use Kraken? Or recommend other interface for buying and long-term hold / infrequent buy/sell?

    Just edging into this field.
     
  4. ian

    ian Well-Known Member

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    A whale, hahahahahaha
     
  5. ian

    ian Well-Known Member

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    Coinbase, Kraken, Binance, all good. Just don't leave too much on an exchange.
     
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  6. Admin

    Admin Administrator Staff Member

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    wow, youve really gone into it. I think most alt coins will go the way of most of the dot com startups. Id not ride them for long. Bitcoin FTW.
     
  7. Admin

    Admin Administrator Staff Member

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    I find binance hard to use, unintuitive but it works well and transfers out are good. It partly depends on what country you will want to transfer funds out to and which exchanges your bank will accept transfers from. People say dont leave too much on exchange but the reality is you have to if you are 'active' as transfers /verifications etc can take days so you arent able to act quick if you dont have assets on exchange.
     
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  8. JMI

    JMI Active Member Acorn Supporter

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    Yes most will die off. I was up a clean 10k profit at one point on a £200 investment on Safemoon and Bonfire Token. Its just my pure greed because you get obsessed with "HODL" and 10x not enough you want 100x, then FOMO of not having enough coins if does 100x then off to bitmart or bitforex buy more, to get raped on commission then piss about with pancake swap looking for next dogecoin, now I'm back to about 2k. I'm still up. I think these shitcoins explode at the end of the cycle after btc, eth, alt, ntf - right at the end the shitcoin boom. But yes this is 1997 all over I will probably lose a small fortune down to FOMO.

    My big issue is I spent my time consulting on military grade defense software and these shity little armature AMA coin start ups with a couple of hacky, hippy, purple haired, spotty teenage devs who barely know how to code Hello World (no offense to any devs here) running the project, backed by a white paper created by a GCSE media student don't cut it, but I have to accept this is the way shit is done in this space. The most import thing i've realised is that the application of the coin is second to the marketing hype and branding to determine the coins success e.g. just look at doge.

    2. I do think crypto will have its place but one thing its not is "digital Gold", its not a store of value, it is nothing, it has no real world application, you can't wear it, use it, you own nothing at the end of the day. On top of the fact the miners use more power from coal (mainly China) than the whole of Sweden to keep it going not great for environment.
     
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  9. lazarus

    lazarus Well-Known Member Exclusive Member

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    You have done a full circle. From not believing in Bitcoin to buying up every shit coin out there. :)
     
    Last edited: May 27, 2021
  10. JMI

    JMI Active Member Acorn Supporter

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    In some ways, I still think its a giant ponzi albeit a very sophisticated one. I will buy some more bitcoin when it goes down to around 10k in the next months, tremendous resistance around 20k, not convinced this is still just a dead cat bounce at the moment. We'll revisit this thread in a few months see if I'm right.
     
  11. Ben Thomas

    Ben Thomas Well-Known Member

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    Isn't fiat just a giant Ponzi scheme though? We're all fuckin' slaves anyway, man. Choose your vice.

    Binance is awful. I hate their website and their app, I've never seen a place so cluttered in all my life. You literally don't know where to look. 80% of my investments are through Kraken, I move them to my Ledger when I feel like I won't want to sell it any time soon. Mainly because they're mostly Ethereum based and CAN ANYBODY BE ANY MORE EXCITED THAN ME FOR EIP1559 because holy mother of mary these gas fees are getting c-ray-z
     
  12. Sound United Kingdom

    Sound Well-Known Member

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  13. accelerator United Kingdom

    accelerator Well-Known Member

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    No I haven't because I'm not that into gaming. However, I do think some of these metaverse games, probably a select few, will become very successful, and will become great investments for those that got in early. From an investment perspective, the problem is working out which games are going to be successful, and then you have to do a lot more research into tokenomics, the quality of the team etc, which means there is a lot of leg work to do to get it right. As with other internet trends, there will also be lots of attempts by cowboys to jump on a trend, so weak games and weak tokenomics.