I'm not going to advise you what to do but I suggest reading some articles on investing in S&P 500 index funds for less worry and a solid long term investment.
Even Warren Buffet is a fan.
It's still too high for me, but if you are determined to go in then (for what's it's worth) I would go BTC and Eth. As a third higher risk alt, Ada wouldn't be the worst as it seems to appeal to the average crypto investor if/when the market goes into hype mode.
I called BTC/Eth/BNB in 2018 and Doge back in 2014. That said I wasted a metric ton on DCA'ing too many alts and made every mistake possible with them (although I did make 100x on some of them, e.g. NEO, Fantom).
BTC/Eth/Ada wouldn't be a bad call. Usual disclaimer: just my opinion, I have no idea what's going to happen next, buy/sell in stages, etc.
Is sushi or doge any good?
Haven't you said you've just lost your b0llix on them, why do you need any more confirmation?
I have coin you can invest in, 100x guaranteed - just transfer your money to me by WU
Waiting for further dip then buying the dip.
If I move my bitcoin off the exchange and into a wallet do I have to make sure this wallet stays up to date? With the exception of keeping the password, I'd rather not have to think about it. Not interested in hardware wallets, trezors etc.
If running a software wallet then yes you need to keep it updated
With a hardware or software wallet you need to keep it up to date and store the seed phrase. Split the seed it in two locations offline, never read it out loud and not in a email or any electronic device etc. The hardware wallets have to be updated and the software one is less secure by nature. Everyone updates during a run like this week so updating can take a while if you’re not already updated. Ledgers front end was down too due to the numbers using it.
Do you have to leave a certain amount of crypto on an exchange to cover fees?
depends what you are doing, if you are staking you do need enough to pay to unstake. But if you are just selling or moving it, they usually take it off the amount being moved.
Yeah I meant in regards to moving it onto a hardware wallet. So you would just have slightly less every time you move it?
Yes, exchanges charge there own fee on top of the Transaction fee for using the Bitcoin network.
You can send bitcoin for free to another bitcoin address, it just might take a bit longer.
If you want to store bitcoin long term to speculate on it then I recommend just using a paper wallet. Buy bitcoin, send it to the address on the paper wallet then Print it out and put it away safe. I done that years ago and still have them. The bitcoin I kept in a digital wallet I ended up selling or investing in alts. Long story short if I kept then on a paper wallet I'd still have them today
What happens if I don't update? From what you are saying, the update sounds like it's some kind of collaborative effort between users.
I'll do my own research rather than hijacking the thread, but getting my crypto off the exchange has always appeared daunting or more risky than just leaving it on there.
Is it not just like a software update? I know with the Exodus wallet its very straightforward, only takes a couple of minutes.
The site it connects to is centralised, the keys stay on the wallet. The centralised site can go offline as ledger did due to too many users updating at the same time.
The risk is minding it yourself. Have you two locations that are separate that you store half the seed phrase (ideally four in case one is lost)? That’s one issue, also it’s cold storage so you don’t connect it to any site you transfer to and from it. I’ve seen people using them and connecting to sites to stake nfts. That’s a big no no. It supposed to be for cold storage.
A good synopsis of what happened at FTX.
Bitcoin at $15.6k Anyone buying now?
Getting closer and closer. I honestly see €500 happening. I’ll start accumulating under €800 though.
Holding off for a while yet. Looks like Genisis is gone to the wall now too so more falls incoming I'd say.
Coinbase is getting hammered too.
Can you explain why I would value a bitcoin at $15.6k?
A few worrying moves in recent days
Alot of 20 to 40yr olds savings are close to bust now
Worrying time for many
I'm not sure, but it's presumably because its price was over $65,000 last year and is likely to double (from current price) in the next year or two.
Why is it likely to double in price?
It's just as likely to halve in price.
Doubtful it will half. Probably ~30K end of 2023. Sets us up for a 2024/2025 Bull run.
Seems Genesis spent the weekend looking for emergency funding but nothing was forthcoming. Would be huge if it entered bankruptcy.
"Probably ~30k", "likely to double in price"
But this analysis is based on what?
wishful thinking.
In other news, I have this bag of magic beans if anyone would like to buy. Guaranteed 6000% return on your money or I’ll stop answering your calls
We believe in almighty Satoshi,
Creator of crypto heaven on earth,
Of all that is seen and unseen
One approach people use to estimate future value is to look at the % of global assets it could capture. If you take the financial services industry alone, valued at around $23 trillion, if 5% were to be captured in BTC it would be worth around $54,761 per BTC.
To assess whether that's realistic or not would depend on more reading and research than you should expect someone to provide you on an internet forum. Trying to predict where price will be at a specific time is pointless, as we've learnt. It's more a question of the whether the technology will be adopted and, if so, at what rate.
I wonder has a lot of the institutional money departed Crytpo in recent weeks. Whatever ones thoughts as to the value of BTC etc they don't seem the type of people who would risk huge sums of money. It appears that FTX was built on somewhat dubious grounds, are there more like that out there?
![Photo of [Deleted User]](https://w2.vanillicon.com/v2/2b6abd1dfa48dd1de9143b108494281e.svg)
![Photo of [Deleted User]](https://we.vanillicon.com/v2/eedacf599b4135dfd56d6fdbddcbd867.svg)
![Photo of [Deleted User]](https://w0.vanillicon.com/v2/0c95fbacfd3f8db330cceee65321bca3.svg)
