My Crypto Journey from this board to no mortgage

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muppetts
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My Crypto Journey from this board to no mortgage

Post by muppetts » Wed, 13. Jan 21, 19:28

I ummmed and arrrred allot about coming back here to post. 3 years ago I made a post about my research into Crypto and I had about 30 posts quoting FOMO 'fear of missing out' and calling me a mug.

Yesterday I paid off my 120K Euro mortgage, when I posted 3 years ago I was unemployed, I had 8k in a high interest account (3% LOL still makes me laugh). I bought bitcoin at 1800, sold some of it yesterday at 30k a coin.

I learned how to trade (easy to pick up, hard to master) and have put everything into Ethereum which looks likely to do a bitcoin, 1000 Euro now I think 5k by next year without much problem.

I got 1500% return on my money in 3 years.

I'm not going to sell you anything, I don't care what you do with the info, no links etc etc.

Start with 50 euro on Coinbase and play with the new cent coins (coinbase is for beginners and is safe as houses if you follow their rules) once you move into higher amounts Coinbase Pro is much cheaper % commission.

My mate started same time with 500 Euro and he is a lazy bugger, he now has 15k.

it's not a trick, no different from stock market with 100 times better returns. Sheldon Evans on You Tube is the best I have seen in 3 years, that's a freebe and it will give you all the education you need, if you start on his early vids.

Never let anyone tell you FOMO, I had a great 14 years in off topic and I thought, even if there is one like me, they have the opportunity to do this or not.

Happy 2021 to you all and stay safe from Covid.
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berth
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Re: My Crypto Journey from this board to no mortgage

Post by berth » Fri, 15. Jan 21, 23:11

Your round mate!

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Chips
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Re: My Crypto Journey from this board to no mortgage

Post by Chips » Sun, 17. Jan 21, 15:52

muppetts wrote:
Wed, 13. Jan 21, 19:28
I ummmed and arrrred allot about coming back here to post. 3 years ago I made a post about my research into Crypto and I had about 30 posts quoting FOMO 'fear of missing out' and calling me a mug.

Yesterday I paid off my 120K Euro mortgage, when I posted 3 years ago I was unemployed, I had 8k in a high interest account (3% LOL still makes me laugh). I bought bitcoin at 1800, sold some of it yesterday at 30k a coin.

I learned how to trade (easy to pick up, hard to master) and have put everything into Ethereum which looks likely to do a bitcoin, 1000 Euro now I think 5k by next year without much problem.

I got 1500% return on my money in 3 years.

I'm not going to sell you anything, I don't care what you do with the info, no links etc etc.

Start with 50 euro on Coinbase and play with the new cent coins (coinbase is for beginners and is safe as houses if you follow their rules) once you move into higher amounts Coinbase Pro is much cheaper % commission.

My mate started same time with 500 Euro and he is a lazy bugger, he now has 15k.

it's not a trick, no different from stock market with 100 times better returns. Sheldon Evans on You Tube is the best I have seen in 3 years, that's a freebe and it will give you all the education you need, if you start on his early vids.

Never let anyone tell you FOMO, I had a great 14 years in off topic and I thought, even if there is one like me, they have the opportunity to do this or not.

Happy 2021 to you all and stay safe from Covid.
Well done! Chance favours the brave :)

Must be 10 years ago I installed onto the university computers the relevant mining software back when bitcoin was about $1 per bitcoin. It never ran, it never went anywhere and I moved on :D

Then about 2 years later someone told me (a lot of us) to get into it - I looked at it - it was $5. I didn't as it had been to $25 and back to $5. I pointed this out, they swore it was the next best thing (they were actively accepting payments with it etc - posted on same forum they'd been on whne it was 20k saying i hope they did really well out of it :D ). When it went to about $400 i tried to buy but failed (and that as the exchange that then went bankrupt about 5 months later so not too bad an outcome :D ).

I didn't have fomo. I had curiosity. I didn't buy, I won't now either. I don't regret - no point.

All I will say is don't forget to hold some of those funds back (about £10k will cover the tax bill) and to declare it on your tax return (or file one if you don't do them usually). Additionally, Bitcoin can be spent at a variety of places - can Etherium or whatever it's called? If it's not accepted, then it's literally vapour money. I wouldn't personally invest in it unless there's some way of exchanging it for something tangible as it's pure speculation. Same can be said of bitcoin, but at least you can use it some places.

So I have to correct this statement 100%
it's not a trick, no different from stock market with 100 times better returns
It is absolutely 100% different from the stock market. Thinking it isn't shows a devastatingly naïve misunderstanding of investments.

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Stars_InTheirEyes
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Re: My Crypto Journey from this board to no mortgage

Post by Stars_InTheirEyes » Sun, 17. Jan 21, 18:23

Don't want to accuse you of being a bot or untruthful, but I'm on a few forums that have new/returning members posting their magical crypto 'get rich quick' stories lately. Since crypto/bitcoin's value is nearly entirely down to demand, its not at all surprising to see people subtly encouraging others to jump on board.

Please tell me if I'm wrong but this is most definitely a sales pitch to me.
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Chips
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Re: My Crypto Journey from this board to no mortgage

Post by Chips » Tue, 19. Jan 21, 13:36

Nooo definitely not a sales pitch - he's been here ages! He's had some great success and there's nothing wrong with saying that. However, it's not regulated, there's no compensation or ability to recover funds in the event it goes belly up (highly unlikely, but it is very susceptible to large swings as we've seen so you could encounter significant losses). The only bit I take umbridge with is saying it's a sure fire (and SAFE) way to make money.

No, it isn't. It really really isn't.

Undoubtedly some can make huge sums of money (the first ever known transaction for goods - as in proper sale - was a pizza for 10,000 bitcoins back in the day). The real price driver is demand but also bounded by the finite supply...

I've a friend who's been buying / selling the same cinema chain shares regularly over the last month thinking he's very suave investor. Yes, he's making some profits as he's basically saying he buys at price X and sells at Y - and the share price is obliging by swinging between those two values at present.

Ask him why it's moving - he hasn't got a clue. He's making about £400 a week doing this and will soon have completely covered his entire original investment (so can't really lose regardless if he banks it back). It's in an ISA - so he doesn't have to worry about paying capital gains tax etc. But he has zero knowledge of markets nor why the price fluctuates.

I should add I'm no savvy investor either. I had plans to sell as things went down then buy back in at the bottom - but then as things continued endlessly south (but crucially before the Govt stepped in around the world to offer loans etc to stop companies failing en masse) remembered funds going bankrupt recently and decided I'd sell 50% of all holdings as having *some* money was better than losing everything. I then didn't buy back in as I thought nothing has really changed for companies, and some I tracked (invested but shifted out of) have now risen 90% in 7 months. I made a mistake - but it wasn't fear of missing out :D I regret selling the day I did but at the time with the info available I was looking at the possibility "holding" would end up with terrible losses as nothing was announced. The second mistake was not buying back in immediately as I thought markets wouldn't recover as nothing changed...

FOMO? No. I had a fear or losing investments. Cautious person :D I still think some markets/prices are ridiculous.

Bitcoin is not a sure thing. There's no such thing. Only invest what you can afford to lose (true of my own investments - doesn't mean you're willing to throw it though :D ) and be aware of the risk of losing money. With bitcoin it is only FOMO that drives it... it's risky, there's no indicator as to why it'll go up or down at any time. The only thing is that some are confident it'll go up in price as ... it's a finite supply. So it *has* to be worth more. Allegedly. Does it though? There's nothing to link it to and no regulation.

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mr.WHO
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Re: My Crypto Journey from this board to no mortgage

Post by mr.WHO » Wed, 20. Jan 21, 20:02

IMO it's more or less a gamble.

If you invest amount that you're not afraid to loose, like 50$ or 500$ for a chance that Bitcoin skyrocket to 140'000$ or even 300'000$ (some investment fund estimate), then fine. There is a much higher chance for this than winning lottery.
However there is also fair change that it might collapse because goverments regulate, tax or outright ban it in future - this is also much more possible than winning lottery.


Investing you lifetime savings or any big amount (like buying a whole single Bitcoin) is a BIG NO NO, especially that there is more and more shilling for crypto (defiently a big sign for upcoming correction).
However investing small amount into frature of the coin just for fun and possibility of total loss is OK (you eat some less hamburgers for some time, so it might be a net benefit).

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clakclak
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Re: My Crypto Journey from this board to no mortgage

Post by clakclak » Mon, 1. Feb 21, 22:11

Invested 10€ into Bitcoin some time ago. Recently sold it and made 60€ back. Not a lot of money but still nice feeling.

(Should also mention that I lost another 10€ I had on Light coin almost completely. I think it is worth like 2€ or 3€ now.)
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Re: My Crypto Journey from this board to no mortgage

Post by RegisterMe » Tue, 9. Feb 21, 13:49

If you're interested in crypto you'd do well to read this, particularly if you have a significant amount invested.

https://joekelly100.medium.com/how-to-k ... e59385a4a5

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Mr. Personal
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Cryptocurrency (ENJ)

Post by Mr. Personal » Wed, 3. Mar 21, 20:04

For the past two weeks, I have been investing quite a lot of time to understand cryptocurrency and investing and I found an interesting little coin called ENJIN (ENJ). So far there have been gas problems there too, meaning high transfer fees, but according to the news that is not going to be a problem beginning some time in April, and after that announcement, ENJ coin become more valuable than euro.

More info; https://enjin.io/

I also like how this kind of coin helps to give value to ingame items and I would utopiscally imagine Egosoft adoptin this coin to their future games.
What you guys think about this kind of coin? :?:
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