Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Is anyone else starting to become a bit excited?

Options
1…179180182184185…330

Comments

  • Options
    #5432
    mamaz
    Registered Users Posts: 116 ✭✭mamaz


    I enquired about investing a while ago and missed the boat. This has really peaked my interest in it all now to get stuck in


  • Options
    #5433
    stockshares
    Registered Users Posts: 2,757 ✭✭✭stockshares


    stockshares wrote: »
    The head of Nexo is on Bloomberg this evening at 5.40pm.

    Might be a sign of a dip coming.

    https://twitter.com/NexoFinance/status/1331621971218608128?s=19

    Interview below. Transcript near the bottom of page.
    https://nexo.io/blog/its-been-a-bitcoin-decade-antoni-trenchev-bloomberg?utm_source=email&utm_medium=newsletter&utm_campaign=event_antonibloomberg_nov20&utm_term=banner&utm_content=cta_2&j=88721&sfmc_sub=14287131&l=26_HTML&u=1529686&mid=500009431&jb=557


  • Options
    #5434
    antgal23
    Registered Users Posts: 497 ✭✭antgal23


    mamaz wrote: »
    I enquired about investing a while ago and missed the boat. This has really peaked my interest in it all now to get stuck in

    Don't yourself a favour and wait until BTC is at $10 k


  • Options
    #5435
    Lex Luthor
    Registered Users Posts: 11,220 ✭✭✭✭Lex Luthor


    Stormington wrote: »
    It will dump more. I'm looking around 15k.
    Then it will pump.

    16850 seems to be the key level at the moment and its flirting with losing it so if it does, 13900 could be on the cards

    if I remember correctly after chinese new year when it dropped just before it, as soon as the holiday was over BTC went on a charge until it was pulled up by the flu-19


  • Options
    #5436
    antgal23
    Registered Users Posts: 497 ✭✭antgal23


    Lex Luthor wrote: »
    Ya that Johnny fella....if only we all had a direct line to him so as to get a heads up when he’s about to dump the whole of the crypto market in less than 12hrs

    Price did what it normally does when approaching ATH resistance , it sells off - then Jonny Retail loses his face coz he bought at 18 thinking it was Lambo time hahaha


  • Advertisement
  • Options
    #5437
    makeorbrake
    Registered Users Posts: 4,664 ✭✭✭makeorbrake


    Lex Luthor wrote: »
    the pullback was expected and is healthy

    Not the first time there's been a clear-out of those taking highly leveraged positions. Some analysis this week turned up the fact that most buying is getting done now on business days 9-5 (the likes of square, paypal, grayscale, etc.). Given the Thanksgiving holiday in the US, Monday should be interesting.


  • Options
    #5438
    RoboRat
    Registered Users Posts: 2,464 ✭✭✭RoboRat


    Anyone use tether to hold funds? I'm not keen on cashing out but if there is another pump, i would like to take some out and hold it for a dip or is it better to just trade out to fiat? Just conscious of money going into my account and wifey going on the rampage with the credit card!


  • Options
    #5439
    makeorbrake
    Registered Users Posts: 4,664 ✭✭✭makeorbrake


    RoboRat wrote: »
    Just conscious of money going into my account and wifey going on the rampage with the credit card!
    A high level of risk management required to combat that. :D


  • Options
    #5440
    RoboRat
    Registered Users Posts: 2,464 ✭✭✭RoboRat


    makeorbrake wrote: »
    A high level of risk management required to combat that. :D
    Yeah, i was duped at the alter when the priest said what's yours is mine and mine is yours... he meant what's mine is hers and what's hers is hers


  • Options
    #5441
    Irish_rat
    Registered Users Posts: 2,554 ✭✭✭Irish_rat


    RoboRat wrote: »
    If there's a God, it really doesn't like me. Was supposed to be off yesterday and had planned on doing some personal admin including cashing in the crypto to buy on the dip. Got called into work though so they said take today off instead. Bloody hell, carnage. F*** f*** f*** i was about 4k up

    I think my apple shares probably dropped about 10k in March but it didn't bother me.


  • Advertisement
  • Options
    #5442
    Irish_rat
    Registered Users Posts: 2,554 ✭✭✭Irish_rat


    RoboRat wrote: »
    Anyone use tether to hold funds? I'm not keen on cashing out but if there is another pump, i would like to take some out and hold it for a dip

    Yeah just put it onto a stable coin if you want save your gains. I don't do it myself as I prefer to hold coins for the long term.


  • Options
    #5443
    Lex Luthor
    Registered Users Posts: 11,220 ✭✭✭✭Lex Luthor


    RoboRat wrote: »
    Anyone use tether to hold funds? I'm not keen on cashing out but if there is another pump, i would like to take some out and hold it for a dip or is it better to just trade out to fiat? Just conscious of money going into my account and wifey going on the rampage with the credit card!

    there's a few options aswell at USDT

    USDC or Dai for example


  • Options
    #5444
    RoboRat
    Registered Users Posts: 2,464 ✭✭✭RoboRat


    Irish_rat wrote: »
    Yeah just put it onto a stable coin if you want save your gains. I don't do it myself as I prefer to hold coins for the long term.

    I was doing that and occasionally trading my alt coins to btc on a high and buying back on a dip which worked out well. I just want to do similar with my btc and eth.


  • Options
    #5445
    stockshares
    Registered Users Posts: 2,757 ✭✭✭stockshares


    Lex Luthor wrote: »
    there's a few options aswell at USDT

    USDC or Dai for example


    You can also lend out your USDC and DAI on Defi sites like Compound to earn passive interest while you wait.


  • Options
    #5446
    Jafin
    Registered Users Posts: 769 ✭✭✭Jafin


    Oh I'm glad people were talking about converting to stablecoins at highs in order to rebuy during dips when I logged in today, I was just thinking about those yesterday as an alternative to converting to Euro and paying fees on Coinbase. There are no obvious downfalls with this method then I take it? I was looking through the graphs on the Coinbase app last night and the only time I could see that USDC really had a significant move was when it spiked to €0.94 in March this year, but then it stabilised and has been at a steady €0.84 for a good while now.


  • Options
    #5447
    stockshares
    Registered Users Posts: 2,757 ✭✭✭stockshares


    Jafin wrote: »
    Oh I'm glad people were talking about converting to stablecoins at highs in order to rebuy during dips when I logged in today, I was just thinking about those yesterday as an alternative to converting to Euro and paying fees on Coinbase. There are no obvious downfalls with this method then I take it? I was looking through the graphs on the Coinbase app last night and the only time I could see that USDC really had a significant move was when it spiked to €0.94 in March this year, but then it stabilised and has been at a steady €0.84 for a good while now.

    That's very low. I'd choose another one but stay away from Tether.

    Dai is the more flexible one if your going to lend


  • Options
    #5448
    Bob24
    Registered Users Posts: 10,905 ✭✭✭✭Bob24


    Jafin wrote: »
    Oh I'm glad people were talking about converting to stablecoins at highs in order to rebuy during dips when I logged in today, I was just thinking about those yesterday as an alternative to converting to Euro and paying fees on Coinbase. There are no obvious downfalls with this method then I take it? I was looking through the graphs on the Coinbase app last night and the only time I could see that USDC really had a significant move was when it spiked to €0.94 in March this year, but then it stabilised and has been at a steady €0.84 for a good while now.

    As others said, avoid Tether (USDT) if it is to store wealth. USDC, TUSD and PAX seems like the safest to me.

    And then double-check the spread on the platform you are getting the stable pins from so that you don’t get screwed every time you buy and sell.

    Obviously you are still exposed to volatility of the USD/EUR exchange rate so it is not the same as keeping cash in euros (can be good or bad depending on what the exchange rate does - this year holding USD instead of EUR would have been a bad deal, but in 2019 it would have been a good one).

    Also you have PAXG which is issued by a solid company and backed by physical gold *if* you feel holding your funds in gold is safer than holding them in USD.


  • Options
    #5449
    Jafin
    Registered Users Posts: 769 ✭✭✭Jafin


    Thank you both for the advice! I have no plans to do anything any time soon (unless by some miracle we have another sudden spike), so I'll definitely do as much research as I can before the time comes.


  • Options
    #5450
    RoboRat
    Registered Users Posts: 2,464 ✭✭✭RoboRat


    Jafin wrote: »
    Oh I'm glad people were talking about converting to stablecoins at highs in order to rebuy during dips when I logged in today, I was just thinking about those yesterday as an alternative to converting to Euro and paying fees on Coinbase. There are no obvious downfalls with this method then I take it? I was looking through the graphs on the Coinbase app last night and the only time I could see that USDC really had a significant move was when it spiked to €0.94 in March this year, but then it stabilised and has been at a steady €0.84 for a good while now.

    I'm assuming the spike was down to € to $ rates, obviously, this is a consideration and will also leave some degree of exposure to currency market fluctuations but I would probably leave my funds in dollar and just buy back in dollar. I have no plans to get out, yet, but at the same time, I see opportunities to grow my wallet by selling high and hoping it goes low to buy back more... risky strategy as it may not go down, but the historical data says otherwise.


  • Options
    #5451
    RoboRat
    Registered Users Posts: 2,464 ✭✭✭RoboRat


    Bob24 wrote: »
    Also you have PAXG which is issued by a solid company and backed by physical gold *if* you feel holding your funds in gold is safer than holding them in USD.

    I have been pondering over buying Palladium as an investment so whilst I like the idea, I don't want to have too much invested in metals. I prefer Palladium to Gold as I feel there is a massive market for it that is only going to grow.


  • Advertisement
  • Options
    #5452
    RoboRat
    Registered Users Posts: 2,464 ✭✭✭RoboRat


    As others said, avoid Tether (USDT) if it is to store wealth. USDC, TUSD and PAX seems like the safest to me.

    Why not tether? Obviously, it was a concern when I originally posted (hence why I posted about it) but I'm interested to know why it gets such bad press.


  • Options
    #5453
    Bob24
    Registered Users Posts: 10,905 ✭✭✭✭Bob24


    RoboRat wrote: »
    Why not tether? Obviously, it was a concern when I originally posted (hence why I posted about it) but I'm interested to know why it gets such bad press.

    There has been concerns whether or not they do have ringfenced USD deposits to back all the coins they are issuing.

    And unless things have changed since I last checked, they never managed to have external auditors certify that it is the case.

    Maybe they are fine, but if there are other options there is no reason to go for the one over which there are doubts.


  • Options
    #5454
    One More Toy
    Registered Users Posts: 3,764 ✭✭✭One More Toy


    Just out of curiosity, how much of your net worth do you suggest holding in crypto?


  • Options
    #5455
    Lex Luthor
    Registered Users Posts: 11,220 ✭✭✭✭Lex Luthor


    One More Toy wrote: »
    Just out of curiosity, how much of your net worth do you suggest holding in crypto?

    As much as you can afford

    Some say 1%, some a lot more

    Entirely an individual choice based on circumstances


  • Options
    #5456
    Lex Luthor
    Registered Users Posts: 11,220 ✭✭✭✭Lex Luthor


    Graph attached showing the retracements in the last BTC bull run

    So for those who might have concerns over the recent one, just to show it’s the norm


  • Options
    #5457
    Bob24
    Registered Users Posts: 10,905 ✭✭✭✭Bob24


    One More Toy wrote: »
    Just out of curiosity, how much of your net worth do you suggest holding in crypto?

    Really depends on personal situations.

    While this is not necessarily what I would recommend, I wouldn't call it crazy if I heard that a 20-something who is still living with their parents and started their professional life recently is going almost all-in with BTC using the few grands they have saved since they started working. At this stage of their life and with a relatively small amount they can make that bet which could have a large positive impact on the rest of their life if it goes very well, and won't make a massive difference if it fails.

    Now of course if someone is retiring and putting all their net worth in BTC as their retirement plan, then I would call them crazy :-) (it might go very well, but if it doesn't they have no safety net)

    Another personal circumstance is what to do if you bought at a low price with lets say 5% of your net worth because you thought 5% was the right figure. And it is now 50% of your net worth purely because of price appreciation. Should you rebalance or stay with 50% which seems pretty high? (keeping in mind that rebalancing has significant tax implications)


    Sorry I know this is not answering your question, but really I think situations can be vastly different.

    Now if we are talking abut a new comer to Bitcoin who is a few years into their professional life and might have some commitments (mortgage, kids, etc), I'd be confortable saying 5 to 10% if they believe it has potential (but knowing that there *is* a risk although the risk adjusted expected return is very attractive).


  • Options
    #5458
    One More Toy
    Registered Users Posts: 3,764 ✭✭✭One More Toy


    Bob24 wrote: »
    Really depends on personal situations.

    While this is not necessarily what I would recommend, I wouldn't call it crazy if I heard that a 20-something who is still living with their parents and started their professional life recently is going almost all-in with BTC using the few grands they have saved since they started working. At this stage of their life and with a relatively small amount they can make that bet which could have a large positive impact on the rest of their life if it goes very well, and won't make a massive difference if it fails.

    Now of course if someone is retiring and putting all their net worth in BTC as their retirement plan, then I would call them crazy :-) (it might go very well, but if it doesn't they have no safety net)

    Another personal circumstance is what to do if you bought at a low price with lets say 5% of your net worth because you thought 5% was the right figure. And it is now 50% of your net worth purely because of price appreciation. Should you rebalance or stay with 50% which seems pretty high? (keeping in mind that rebalancing has significant tax implications)


    Sorry I know this is not not answering your question, but really I think situations can be vastly different.

    Now if we are talking about about a new comer to Bitcoin who is a few years into their professional life and might have some commitments (mortgage, kids, etc), I'd be confortable saying 5 to 10% if they really believe it has potential (but knowing that there *is* a risk although the risk adjusted return is very good).

    I don't think I'll let it go passed 10% I think, thanks for your post


  • Options
    #5459
    RoboRat
    Registered Users Posts: 2,464 ✭✭✭RoboRat


    One More Toy wrote: »
    Just out of curiosity, how much of your net worth do you suggest holding in crypto?

    I can't speak for others, but I have financial commitments (mortgage, kids, wife etc) so I don't invest too heavily. In saying that I don't have major savings because the interest rate is lower than YOY inflation, I have a rainy day fund but that's just for quick access to cash.

    I had considered using a broker but having talked to a few, they tend to push where they want you to go, for whatever reason. I also know that my Dad's pension fund got hugely damaged during the recession so I have limited faith in brokers and as a result, I would like to keep control myself... it's my money so I am really going to work to protect and grow it.

    I have invested some money in Crypto, I also invested money in my own side business venture and I don't take money out, purely just reinvest with the hope there is a full-time job down the line or I have a decent amount of money built up for early retirement - obviously, the primary goal is to be bought out by a brand and sail off into the sunset (have to dream).

    Invest what you are comfortable losing because it's a real possibility... without risk, there is no reward :-)


  • Options
    #5460
    grindle
    Registered Users Posts: 6,026 ✭✭✭grindle


    100% does make everything much more exciting, if excitement is something you've felt was missing from your savings.


  • Advertisement
  • Options
    #5461
    Irish_rat
    Registered Users Posts: 2,554 ✭✭✭Irish_rat


    One More Toy wrote: »
    Just out of curiosity, how much of your net worth do you suggest holding in crypto?

    Mine is currently 1%. 88% in stocks and 11% fiat.

    Been dca'ing in for a while now, hope to get that percentage up to 5-10.
    10% for me sounds like a good chunk as I don't generally like high risk.


This discussion has been closed.
Advertisement