Is anyone else starting to become a bit excited?

02-05-2021 9:31pm

Thargor wrote: »

Looks like another night of lost sleep watching ETH attempt to break 3k...

It's edging closer

Thargor · 02-05-2021 9:35pm

Badly fukt wrote: »

It's edging closer

Its obviously inevitable the question is does some whale and/or a load of minnows dump at that point.

I really, really should sell right now tbh, I could be bidding on a house this week.

02-05-2021 9:38pm

Thargor wrote: »

Its obviously inevitable the question is does some whale and/or a load of minnows dump at that point.

I really, really should sell right now tbh, I could be bidding on a house this week.

There's a guaranteed correction but it will power on again after

Dohnjoe · 02-05-2021 9:40pm

HGVRHKYY wrote: »

DeFi, NFTs, being the largest platform that has many other cryptos built on top of it. Yeah, hasn't done anything really. With the updates and actual progress towards 2.0 as well, it's almost as if people believe it's going to have even more utility when that rolls around due to larger capacity

Indeed NFT's and DeFi are pretty cool, but up 2500% in a year? down 40% in a day? nothing rational about that. What has Dogecoin done to be worth 150x more in the last year? nothing. A fork of a fork of BTC is worth more than multi-national companies. The market is mental. Artificial scarcity, hype and FOMO drives far more value than any underlying fundamental value these things have. And that's fine by me, I like the rollercoaster, great for gains and all that, just pointing out the obvious here.

One More Toy · 02-05-2021 10:22pm

Eth to 3k tonight?!

02-05-2021 10:29pm

One More Toy wrote: »

Eth to 3k tonight?!

Should've been last night, it's bouncing off it, going sideways

Irish_rat · 02-05-2021 10:32pm

Raelynn Scruffy Pushcart wrote: »

Ir's dangerous really, some people will get burned who just "dipped their toes" got excited, and fired the kitchen sink into it

And some will be multimillionaires. Some of the price action we are seeing could be blips on a radar a year or two from now.

02-05-2021 10:43pm

Rob2D wrote: »

Phew, finally got my portfolio laid out for alt season. 16 coins.............I may have spread myself too thin. But f**k it shur a couple of them will surely do something! :pac:

Care to share the 16?

FFVII · 02-05-2021 11:53pm

Cushtie wrote: »

Ah lads. It makes no sense to a normal Joe like me.

I stuck about 70 euro into ETH on revolut about 6 weeks ago just to dip my toe in whilst I try to educate my self on it.

Anyway that 70 is at 120 this evening. Bonkers really if you scale that up to what some people must have bought in at.

aint apple up 100% in the year?

Easy to make money at the moment.

One More Toy · 03-05-2021 2:45am

Eth 3k

Lorne Malvo · 03-05-2021 5:48am

One More Toy wrote: »

Eth 3k

anyone going all in on eth? its not looking like stopping anytime soon...

Unearthly · 03-05-2021 8:56am

Haha Ethereum eases the pain of a Monday morning

And yes I'm working on a bank holiday

Wetbench4 · 03-05-2021 9:08am

Hi all, very new to this game. Is it good practice to convert a crypto coin to euro, at the start of a dip, hold the euro and then buy back on the way back up, or do most of ye just hodl through the dips?

03-05-2021 9:10am

Wetbench4 wrote: »

Hi all, very new to this game. Is it good practice to convert a crypto coin to euro, at the start of a dip, hold the euro and then buy back on the way back up, or do most of ye just hodl through the dips?

Yes, that's how trading works, sell when it starts to dip and buy back in cheaper, but not to fiat, to stablecoin like USDC and USDT. I hold through the dips add I'm in for the long term and have mine staked.

Thargor · 03-05-2021 9:25am

$4k coming into play for ETH now :P

Unearthly · 03-05-2021 9:27am

Lorne Malvo wrote: »

anyone going all in on eth? its not looking like stopping anytime soon...

Statistically if you go in on a coin during a pump you will lose money (unless you don't mind holding for long term), that's not to say Ethereum is at its top, but you're making a high risk move.

Ethereum was about half the price in March when people were beginning to write it off and calling it a stable coin, that's when you should buy

cnocbui · 03-05-2021 10:47am

Wetbench4 wrote: »

Hi all, very new to this game. Is it good practice to convert a crypto coin to euro, at the start of a dip, hold the euro and then buy back on the way back up, or do most of ye just hodl through the dips?

The dip has to be considerable, given the 33% CGT you have to pay on the profit reducing how much you have to buy back in with, to make that worth while. Picking the peaks and troughs is not something any one can do unlesss they are a whale causing them.

CGT makes that sort of trading a near sure lose mugs game. If you believe in it hoddle.

Connavar · 03-05-2021 10:50am

Wetbench4 wrote: »

Hi all, very new to this game. Is it good practice to convert a crypto coin to euro, at the start of a dip, hold the euro and then buy back on the way back up, or do most of ye just hodl through the dips?

Just remember that selling for euro is a CGT event so if you are in with a decent chunk of money selling and buying again may not be worth it

cnocbui · 03-05-2021 10:53am

Connavar wrote: »

Just remember that selling for euro is a CGT event so if you are in with a decent chunk of money selling and buying again may not be worth it

Selling, period, is a CGT event - it's not limited to Euros or fiat. Swapping one coin for another is a CGT event.

bfa1509 · 03-05-2021 11:07am

Very "annoyed" to see Eth price this morning. When I saw the big red wall of sell orders at 3k last night I thought: "Might sell one now @2990 and buy two more when it pulls back overnight"

My smart-assedness was punished. Still don't understand what happened the wall of sell orders at 3k? Would like if someone could enlighten me.

Unearthly · 03-05-2021 11:12am

bfa1509 wrote: »

Very "annoyed" to see Eth price this morning. When I saw the big red wall of sell orders at 3k last night I thought: "Might sell one now @2990 and buy two more when it pulls back overnight"

My smart-assedness was punished. Still don't understand what happened the wall of sell orders at 3k? Would like if someone could enlighten me.

Sell walls can be gone in 2 ways.

The buy pressure is too much and they just get eaten.

Whales use it as a psychological scare to get people to sell as they think it can't be stopped. Once a tiny fraction of the wall is eaten, the whales realise the volume is too high and remove them and place them back at a higher price

Connavar · 03-05-2021 11:31am

cnocbui wrote: »

Selling, period, is a CGT event - it's not limited to Euros or fiat. Swapping one coin for another is a CGT event.

Yep was just going on the example given

One More Toy · 03-05-2021 12:15pm

Connavar wrote: »

Yep was just going on the example given

Is receiving a loan based on collateral A CGT event?

djan · 03-05-2021 12:28pm

One More Toy wrote: »

Is receiving a loan based on collateral A CGT event?

No. AFAIK it would be the same as taking out loan and using house/land/business as collateral. Efficient way to "release" funds without triggering CGT. Rates tend to be a bit higher than traditional banks and collateral usually needs to be double the loan amount.

FFVII · 03-05-2021 3:10pm

https://www.altfi.com/article/7851_breaking-revolut-announces-bitcoin-withdrawals-in-hastily-deleted-blog-post

Revolut to allow bitcoin withdrawals

BrandonBay86 · 03-05-2021 3:21pm

FFVII wrote: »

https://www.altfi.com/article/7851_breaking-revolut-announces-bitcoin-withdrawals-in-hastily-deleted-blog-post

Revolut to allow bitcoin withdrawals

That’s huge.

HGVRHKYY · 03-05-2021 4:31pm

bfa1509 wrote: »

Very "annoyed" to see Eth price this morning. When I saw the big red wall of sell orders at 3k last night I thought: "Might sell one now @2990 and buy two more when it pulls back overnight"

My smart-assedness was punished. Still don't understand what happened the wall of sell orders at 3k? Would like if someone could enlighten me.

Probably eaten up bit by bit, or people removed their orders. I was awake really late last night watching it, it was agonisingly slow going from $2,980 to actually breaking through $3,000

HGVRHKYY · 03-05-2021 4:34pm

djan wrote: »

No. AFAIK it would be the same as taking out loan and using house/land/business as collateral. Efficient way to "release" funds without triggering CGT. Rates tend to be a bit higher than traditional banks and collateral usually needs to be double the loan amount.

That's what I found when I was looking at them recently, but still think it's amazing to have services available that allow you to do this with your crypto these days and they'll only get better and more competitive as time goes on. And the more crypto increases in value, the less crypto we'll actually need to put up for the loans

HGVRHKYY · 03-05-2021 4:37pm

FFVII wrote: »

https://www.altfi.com/article/7851_breaking-revolut-announces-bitcoin-withdrawals-in-hastily-deleted-blog-post

Revolut to allow bitcoin withdrawals

Only for their paying premium members though of course, so you need to pay to be able to actually fully take ownership of what you've already bought. Scumbags, they're only a small step up from Robinhood

03-05-2021 5:39pm

bfa1509 wrote: »

Very "annoyed" to see Eth price this morning. When I saw the big red wall of sell orders at 3k last night I thought: "Might sell one now @2990 and buy two more when it pulls back overnight"

My smart-assedness was punished. Still don't understand what happened the wall of sell orders at 3k? Would like if someone could enlighten me.

Where do you see this

Is anyone else starting to become a bit excited?

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