Bitcoin

[SuperTortolano]

Buy the dip! This is really great opportunity to get into Bitcoin right now. You just have to scroll back a little and see it went from 24k to 124k in about four years. As with any investment, this is the correction, nothing keeps going up forever. This is where the brave money starts investing and ignoring all the noise about it crashing to zero. We'll have another 3-4 years at these prices until the next bull run to 250k.

 

[BurbankHibee]

We'll have another 3-4 years at these prices until the next bull run to 250k.

I saw Charles Hoskinson predicting that Bitcoin will reach $250k by the end of 2026.

 

[Bangkokhibby]

I saw Charles Hoskinson predicting that Bitcoin will reach $250k by the end of 2026.

Raul Pal said $350k in 2022. Predictions should be ignored. The only truth (so far) is that despite regular dips/crashes it always comes back stronger.

 

[hibadelic]

If anyone took the advice on here to 'buy the dip' last week, they'd have lost 13% of their 'investment'.
BitCoin is crashing again, best to steer clear for a while.

 

[Jack]

If anyone took the advice on here to 'buy the dip' last week, they'd have lost 13% of their 'investment'.
BitCoin is crashing again, best to steer clear for a while.

While it's the same for all investments bitcoin, with it's based on not much more than the internt ether does seem a bit wild.

Anyone invested in gold recently?

 

[BurbankHibee]

If anyone took the advice on here to 'buy the dip' last week, they'd have lost 13% of their 'investment'.
BitCoin is crashing again, best to steer clear for a while.

A week is not enough time to consider as an investment. I think Bitcoin is up 2% over seven days. Crypto is very volatile and not for the faint of heart. High risk, high reward. I like to dabble in it because it’s a bit like gambling. I’ll never get rich but I made a very good return on my small stake in Bitcoin. Ehereum on the other hand I’m in the red but sticking with it until it goes up again.

 

[barney]

Anyone prepared to say what % they have earned on this say over the last 5 years.
Genuinely interested.
My mainstream investments have earned around 15%
I’d like to earn more

 

[SuperTortolano]

Anyone prepared to say what % they have earned on this say over the last 5 years.
Genuinely interested.
My mainstream investments have earned around 15%
I’d like to earn more

I follow the same pattern every cycle. The last cycle I'm up around 68% I started buying in the 24k range and the cost average over the 4 ish years was around 33k. I sold half of my investment ark and about 90k and the majority of the rest in the 100k range. Nobody will every pick the exact top or bottom. If they do, that's very lucky and fortunate. If if held on I could have cashed out at 125k, but on the flip side, could have still be holding while it's around 85k

 

[hibadelic]

A week is not enough time to consider as an investment. I think Bitcoin is up 2% over seven days. Crypto is very volatile and not for the faint of heart. High risk, high reward. I like to dabble in it because it’s a bit like gambling. I’ll never get rich but I made a very good return on my small stake in Bitcoin. Ehereum on the other hand I’m in the red but sticking with it until it goes up again.

1 week ago it, when tortolanohibs was telling everyone to buy, it was £75. It's now £65. That's not an increase.

I get that it's a high risk investment and investments should be long term, that's why these daft bitcoin posts piss me off. Everything is so definite, despite no reasoning or evidence. Posts like yours are fine - acknowledging that it's high risk, it's all this nonsense where people pretend to know what's going to happen that bugs me.

 

[BurbankHibee]

1 week ago it, when tortolanohibs was telling everyone to buy, it was £75. It's now £65. That's not an increase.

In the grand scheme of things, it’s a minor drop. The drop from its high of $125k~ to its 52 week low of $74k is significant. (Sorry I’m $) so its current price of $85k is still attractive to people who believe (and it is a belief rather than based on anything concrete imo) that there will be big gains later. Some people may hold off buying hoping it goes lower before jumping in. ST thinks it’s at a good point to jump in based in the cycles he has observed over the years and it has worked for him. And others.

I get that it's a high risk investment and investments should be long term, that's why these daft bitcoin posts piss me off. Everything is so definite, despite no reasoning or evidence. Posts like yours are fine - acknowledging that it's high risk, it's all this nonsense where people pretend to know what's going to happen that bugs me.

I don’t know why it bothers you so much. I agree with you, I don’t think anyone really knows wtf crypto is going to do or what it’s for. I certainly wouldn’t put any of my retirement savings into it as an investment. I’ll stick with Microsoft and Apple. Bitcoin is not for everyone but if you like a flutter you can win big. Do you get pissed off when someone gives you a tip on a horse that’s a nap and the donkey finishes last . Relax, it’s just a bit of fun.

 

[SuperTortolano]

1 week ago it, when tortolanohibs was telling everyone to buy, it was £75. It's now £65. That's not an increase.

I get that it's a high risk investment and investments should be long term, that's why these daft bitcoin posts piss me off. Everything is so definite, despite no reasoning or evidence. Posts like yours are fine - acknowledging that it's high risk, it's all this nonsense where people pretend to know what's going to happen that bugs me.

I did specifically say 3-4 years. For someone like me that believes and confident the price will more than double, probably triple, I love seeing it drop further.

I was mocked many times when I said Bitcoin would reach 100K while the price was under the 25K mark. Why not use a larger sample size than 7 days?

I don't post to brag, I genuinely want people to make money, not lose it.

 

[Bangkokhibby]

Anyone prepared to say what % they have earned on this say over the last 5 years.
Genuinely interested.
My mainstream investments have earned around 15%
I’d like to earn more

I started buying fractions of bitcoin, ethereum and xrp around 2017/18 using money I would have chucked at the bookie anyway so effectively anything made from crypto was pure profit. Bitcoin would be around 9k to 14k then. I quickly realised that at my age bitcoin was going to be the only life enhancer so I traded the xrp and ethereum for more bitcoin. Since I retired in 2020 it's increased enough to get me a condo, a new car, a new scooter and enough cash to cover around ten years health insurance if I live that long. Now I'm skint and just living on the uk state pension. It was never my intention to hold forever like some say so it's done a fantastic job in making my life here pretty bloody good. I now have 0.25 held in reserve for any unforseen issues which may arise and if/when I die before my wife she knows how to access it so it will help her too after I'm gone.
Go Bitcoin!

 

[SuperTortolano]

I started buying fractions of bitcoin, ethereum and xrp around 2017/18 using money I would have chucked at the bookie anyway so effectively anything made from crypto was pure profit. Bitcoin would be around 9k to 14k then. I quickly realised that at my age bitcoin was going to be the only life enhancer so I traded the xrp and ethereum for more bitcoin. Since I retired in 2020 it's increased enough to get me a condo, a new car, a new scooter and enough cash to cover around ten years health insurance if I live that long. Now I'm skint and just living on the uk state pension. It was never my intention to hold forever like some say so it's done a fantastic job in making my life here pretty bloody good. I now have 0.25 held in reserve for any unforseen issues which may arise and if/when I die before my wife she knows how to access it so it will help her too after I'm gone.
Go Bitcoin!

That's brilliant! Love stories like this one.

 

[BurbankHibee]

started buying fractions of bitcoin, ethereum and xrp around 2017/18 using money I would have chucked at the bookie anyway so effectively anything made from crypto was pure profit. Bitcoin would be around 9k to 14k then.

I became aware of Bitcoin around 2016 and it was about $4 to $5k. I was interested in buying into it but back then I didn’t really know how and I was wary of the platforms and organizations that were used for trading so to my regret to this day I never bought any. Only in the past couple of years did I buy any crypto because Fidelity offers Bitcoin and Ethereum. I have an account with Crypto.com but I am still wary of using it and stick with Fidelity. Bitcoin’s value didn’t really rocket until 2022. Who really knows how much higher it will go. Or crash and burn which seems unlikely.

Anyway, glad it worked out so well for you.

 

[aggie]

I don't post to brag, I genuinely want people to make money, not lose it.

How about an idiot's guide to buying it?

As in where and how to get a wallet, what exchange to use, etc? I'd be intrigued to hear about the process.

 

[SuperTortolano]

How about an idiot's guide to buying it?

As in where and how to get a wallet, what exchange to use, etc? I'd be intrigued to hear about the process.

I'll just give you a run down of my personal preferences. So for buying crypto anf Bitcoin I use two main website/apps. Coin base and Crypto.com. Once you buy your crypto, it's stored in those wallets. Some people are comfortable just leaving there crypto in those wallets/accounts, but I personally don't. I transfer my crypto from those accounts when I've bought it and store it in what's called a hard wallet.

A hard wallet is like a thumb drive that is encrypted and probably the safest way to store your crypto. Two wallets that I have purchased have been the Ledger and Trezor wallets. They can be purchased on Amazon and directly from the sites. Make sure when buying on Amazon you are buying from the manufacturer Amazon seller. Once you've done this, just hit up YouTube and that gives you a step by step guide into setting the wallets up. That's more or less what I did. It sounds overwhelming and tricky, but when you do it a couple of times, it really is a piece of piss. Also I'd recommend when you're first moving your crypto from one of those sites to your wallet, just move a small amount as a test. That's what I did just to make sure I was doing it right.

I have no problem answering any questions and helping anyone with advice.

 

[SuperTortolano]

Bitcoin along with gold and silver have taken massive hits this week. Personally I'm loving the pullback and just invested more into Bitcoin ETH and XRP. All the noise right now is that Bitcoin is crashing to zero, it's all bollocks. I've seen this movie play out a few times. It's a great time to buy and hold for the next 3-4 years. My plan is to keep buying monthly for that time period and then sell when it approaches the 200K mark.

 

[Jack]

Bitcoin along with gold and silver have taken massive hits this week. Personally I'm loving the pullback and just invested more into Bitcoin ETH and XRP. All the noise right now is that Bitcoin is crashing to zero, it's all bollocks. I've seen this movie play out a few times. It's a great time to buy and hold for the next 3-4 years. My plan is to keep buying monthly for that time period and then sell when it approaches the 200K mark.

Gold took a short term hit last week from a ridiculous rise in the last week or so in January but recovered to around where it was before that.

Gold stuff bought just before Christmas is still showing a positive return even taking into account sellers and buyers cuts!

 

[Keepitgreen]

Bitcoin along with gold and silver have taken massive hits this week. Personally I'm loving the pullback and just invested more into Bitcoin ETH and XRP. All the noise right now is that Bitcoin is crashing to zero, it's all bollocks. I've seen this movie play out a few times. It's a great time to buy and hold for the next 3-4 years. My plan is to keep buying monthly for that time period and then sell when it approaches the 200K mark.

Seen a bit of chat recently ST about stablecoins maybe being the long-term bet due to their having a proper use-case... Interested in your thoughts?

Also a bit of worry about quantum computing and how it might enable cracking of the Bitcoin algo - possibly 5 years?

 

[SuperTortolano]

Seen a bit of chat recently ST about stablecoins maybe being the long-term bet due to their having a proper use-case... Interested in your thoughts?

Also a bit of worry about quantum computing and how it might enable cracking of the Bitcoin algo - possibly 5 years?

For investment purposes, I wouldn't invest in a stablecoin. It's more or less the equivalent of parking your money in a savings account and making 1-2% on your money. I generally use stablecoins when I sell my crypto and Bitcoin. I transfer them to a couple of different stablecoins and then just wait for a pull back/crash on crypto like what has happened this year and then slowly buy back in.

I haven't heard too much about the algorithm being cracked by a supercomputer, so don't know too much about that. I will say that usually when Bitcoin crashes, there's a LOT of scaremongering that always follows. The truth of it is, they the big corporations don't want people buying when it's low like this. And then when it moon shots, the articles are the complete opposite trying to get the public to buy. I've watched this play out so many times. They use all the social media platforms, so I always advise anyone to do the opposite. Hell there's even rumors that Epstein is "Satoshi" the inventor of Bitcoin. I find that laughable tbh.

This is the 4th cycle I've seen happen like this. I've been investing in crypto for 12 years now. When it corrects like it is doing now, buy! And then keep buying smaller amounts every month with what you can afford for the next 3-4 years. That's always been my strategy. If you read this thread from start to finish, you'll see how the pattern plays out.

 

[Keepitgreen]

For investment purposes, I wouldn't invest in a stablecoin. It's more or less the equivalent of parking your money in a savings account and making 1-2% on your money. I generally use stablecoins when I sell my crypto and Bitcoin. I transfer them to a couple of different stablecoins and then just wait for a pull back/crash on crypto like what has happened this year and then slowly buy back in.

I haven't heard too much about the algorithm being cracked by a supercomputer, so don't know too much about that. I will say that usually when Bitcoin crashes, there's a LOT of scaremongering that always follows. The truth of it is, they the big corporations don't want people buying when it's low like this. And then when it moon shots, the articles are the complete opposite trying to get the public to buy. I've watched this play out so many times. They use all the social media platforms, so I always advise anyone to do the opposite. Hell there's even rumors that Epstein is "Satoshi" the inventor of Bitcoin. I find that laughable tbh.

This is the 4th cycle I've seen happen like this. I've been investing in crypto for 12 years now. When it corrects like it is doing now, buy! And then keep buying smaller amounts every month with what you can afford for the next 3-4 years. That's always been my strategy. If you read this thread from start to finish, you'll see how the pattern plays out.

Cheers, I've probably said this before and regretted it, but feels like I missed the crypto boat tbh. Gains from here (especially on BTC or ETH) dont feel like they'll be good enough to take the risk. Absolutely were before though, and will be for folk like yourself who have plenty of the stuff already bought at cheap prices.

 

[SuperTortolano]

Cheers, I've probably said this before and regretted it, but feels like I missed the crypto boat tbh. Gains from here (especially on BTC or ETH) dont feel like they'll be good enough to take the risk. Absolutely were before though, and will be for folk like yourself who have plenty of the stuff already bought at cheap prices.

Depends on how old you are. I'm in my mid 40's and started in my 30's. You could feesibly start investing small for the next 3-4 years and triple the money you've been investing. When it peaks, sell off most of your investment and wait for the next crash like we are seeing now. Rinse and repeat that for a few cycles and you'll be sitting on a nice chunk of change in the future.

 

[Keepitgreen]

When it peaks, sell off

Well thats easy to say, hard to do, no?!

Nah I do get you, and could easily all happen like that, I just think tripling is maybe a push now in that time frame and for a lot of risk that would need more than 3x to justify it for me.

Also, if the quantum cracking of the algorithm does come onto the scene you're looking at a complete wipe out..

Good luck tho dude!

(I'm wracked with non-buyers remorse tbh, had btc and xrp back in the day that I binned way too early and been greeting ever since)

 

[SuperTortolano]

Well thats easy to say, hard to do, no?!

Nah I do get you, and could easily all happen like that, I just think tripling is maybe a push now in that time frame and for a lot of risk that would need more than 3x to justify it for me.

Also, if the quantum cracking of the algorithm does come onto the scene you're looking at a complete wipe out..

Good luck tho dude!

(I'm wracked with non-buyers remorse tbh, had btc and xrp back in the day that I binned way too early and been greeting ever since)

It just takes discipline and not getting too greedy. I predicted it would hit 100K on the last run up and it ended up going over 125k. I wasn't greedy though, I started slowly selling off when it hit 90k and kept selling on the way up. At no point did I catch the absolute top, but still made a really good profit from buying low the previous 3-4 years. My predictions and selling points are all documented on this thread. Granted it could absolutely crash to zero, I just don't think it will. Far too many huge corporations are holding Bitcoin for that to happen IMO.

I look upon it as gambling with an edge. The bookies and casino's always have an edge (baring card counters). I feel like I have the edge when it comes to buying and selling crypto and gamble that way if you want to call it that. It's always fun to keep this thread alive from time to time and see how it's turned out.

 

[Keepitgreen]

It just takes discipline and not getting too greedy. I predicted it would hit 100K on the last run up and it ended up going over 125k. I wasn't greedy though, I started slowly selling off when it hit 90k and kept selling on the way up. At no point did I catch the absolute top, but still made a really good profit from buying low the previous 3-4 years. My predictions and selling points are all documented on this thread. Granted it could absolutely crash to zero, I just don't think it will. Far too many huge corporations are holding Bitcoin for that to happen IMO.

I look upon it as gambling with an edge. The bookies and casino's always have an edge (baring card counters). I feel like I have the edge when it comes to buying and selling crypto and gamble that way if you want to call it that. It's always fun to keep this thread alive from time to time and see how it's turned out.

Fair play amigo, I do wish you all the best with it, and will keep an eye out for this thread as we go!

 

[egb_hibs]

It just takes discipline and not getting too greedy. I predicted it would hit 100K on the last run up and it ended up going over 125k. I wasn't greedy though, I started slowly selling off when it hit 90k and kept selling on the way up. At no point did I catch the absolute top, but still made a really good profit from buying low the previous 3-4 years. My predictions and selling points are all documented on this thread. Granted it could absolutely crash to zero, I just don't think it will. Far too many huge corporations are holding Bitcoin for that to happen IMO.

I look upon it as gambling with an edge. The bookies and casino's always have an edge (baring card counters). I feel like I have the edge when it comes to buying and selling crypto and gamble that way if you want to call it that. It's always fun to keep this thread alive from time to time and see how it's turned out.

It could crash to zero if anyone gets a grip on general purpose quantum computing, or even signals they're on the way. Perhaps worth keeping that in mind.

Edit - i see KiG beat me to it. He is correct.

 

[HaarlemShuffler]

It could crash to zero if anyone gets a grip on general purpose quantum computing, or even signals they're on the way. Perhaps worth keeping that in mind.

Edit - i see KiG beat me to it. He is correct.

Tho they are already talking of PQC - post quantum cryptification. But christ knows what that would do to the price of mining.

 

[Bossie]

Just hope the small-time traders who have persuaded themselves that they can outsmart the market can afford this level of loss.

 

[Purple & Green]

View attachment 20935

Just hope the small-time traders who have persuaded themselves that they can outsmart the market can afford this level of loss.

This feels like one of the most heavily manipulated markets on the planet.

A lot of commentary today suggesting that bitcoin is still here to stay. If the people writing that have stocks, they would say that wouldn’t they.

 

[BurbankHibee]

Bitcoin crashing, is it time to buy the dip?

Ethereum way down, I’m well under water on this one but will continue to hold.

 

[SuperTortolano]

I bought earlier in the week at $66,000 and just bought some Bitcoin Cash as that's been hit hard and pretty low. Definitely a good time to buy the dip. It's quite scary how closely the pattern follows itself going side to side up and down.

 

[baggageandfibs]

Just saw some analysis on cnbc, the panel was unusually pessimistic about bitcoin. Says stable coin is going to mean bitcoin is redundant. I also saw The US government recently commandeered $1bn of bitcoin held by Iranian people (not government) so it's not even a safe haven to store value any more, one of its key selling points. Suspect its going to go a lot lower from here.

 

[SuperTortolano]

Just saw some analysis on cnbc, the panel was unusually pessimistic about bitcoin. Says stable coin is going to mean bitcoin is redundant. I also saw The US government recently commandeered $1bn of bitcoin held by Iranian people (not government) so it's not even a safe haven to store value any more, one of its key selling points. Suspect its going to go a lot lower from here.

One thing I've learned about Bitcoin and MSM... Do the opposite of what they advise. Right now big corporations will be buying the dip. I don't say that as a conspiracy theorist, it's just what happens. There's always some event that they'll use to deter people from buying when it's low and it works sadly. The exact same thing happens when Bitcoin is flying high. All of a sudden influencers and "experts" tell people to buy, "Bitcoin is going to the moon" That's when you sell up and watch the incoming crash and buy during times like this.

 

[HaarlemShuffler]

One thing I've learned about Bitcoin and MSM... Do the opposite of what they advise. Right now big corporations will be buying the dip. I don't say that as a conspiracy theorist, it's just what happens. There's always some event that they'll use to deter people from buying when it's low and it works sadly. The exact same thing happens when Bitcoin is flying high. All of a sudden influencers and "experts" tell people to buy, "Bitcoin is going to the moon" That's when you sell up and watch the incoming crash and buy during times like this.

I realise the US tax system has its own quirks, but how do you declare bitcoin holdings on your tax return? Just in general terms, is it more akin to savings or investments?