Cryptocurrencies

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StrawberryCream said:
Shitcoin. People seriously think this can hit 1 cent 😂 market cap would be astronomical and would need to be bigger than Bitcoin 🤣 impossible without burning 99% of the supply
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Yeah the maths isn’t backing it up. It’s the hype that gets me. I’ve never seen anything so sustained or verging on mainstream awareness for a shitcoin. I just don’t get it! 😂

I am so tempted to dabble with maybe 5m though. Someone might find a way to turn value out of the hype and give it longer legs to a healthy (but not unrealistic) profit.
 
L3moning said:
To be fair people said that about Doge.
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Yeah they aren’t the same coin? Please look at the supply and market cap. You must not know very much about crypto if you think shiba is going to where doge is

Just wanted to add as well even if shiba had the same market cap as Bitcoin (will never happen) it still doesn’t hit 1cent. Huge dip coming soon for shiba so many about to get rekt.
Never buy the news

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Cryptocurrency is so exciting! I got into it at the beginning of this year and takes a while to get used to the dips 😱 but it’s fun to watch and I’m up quite a bit. I need to skim off some profits while the going is good, but it’s hard as you want to keep going when everything is on the up 😅

I want to learn more about it though and maybe dabble in some new altcoins. On Friday night I saw a new coin, Dotdown, that had gone from £0.00006841 to £7.80 in a 24 hour period, imagine having put £10 or £100 into that 😭😭 I’d love to do that but I wouldn’t even know what coin to invest in, there are so many new ones all the time.
 
Market cap isn't the be all and end all for crypto.

And I didn't say it will end up where Doge is, just that people say "it'll never get to x, big crash coming soon!" about every new coin. I doubt it's going to get to 1c anytime soon, but if people are buying it now to hold for a while then meh.
 
clueless said:
Cryptocurrency is so exciting! I got into it at the beginning of this year and takes a while to get used to the dips 😱 but it’s fun to watch and I’m up quite a bit. I need to skim off some profits while the going is good, but it’s hard as you want to keep going when everything is on the up 😅

I want to learn more about it though and maybe dabble in some new altcoins. On Friday night I saw a new coin, Dotdown, that had gone from £0.00006841 to £7.80 in a 24 hour period, imagine having put £10 or £100 into that 😭😭 I’d love to do that but I wouldn’t even know what coin to invest in, there are so many new ones all the time.
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Yeah the dips are hard but after a few years you’ll see them as buying opportunity. Will never forget the day my portfolio went down £10k in a few hours and I was in full panic mode 😂
Watch some of the wojak crypto YouTube videos, they are hilarious and very relatable
 
ATH for Shiba. I reiterate my earlier post, WTF is going on? It can’t be just fomo? Why is it getting so much traction I don’t understand 😭😂
 
Doc said:
ATH for Shiba. I reiterate my earlier post, WTF is going on? It can’t be just fomo? Why is it getting so much traction I don’t understand 😭😂
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Hype / FOMO is probably at least part of it, to be fair.

I brought like $20 worth of it a week or so ago, don't see the point in spending much more on it. Although if it does crash to 0.00002500 again then I might buy some more.
 
I guess once it’s over it’s new information to refer to about how much exposure, networks, social media marketing and branding will lift even the shittiest of shitcoins.

It’s because of the demographics who are buying it I think. Probably less experienced in markets in general and less risk averse so giving it wings. Plus it’s incredibly cheap to play with without risking too much.
 
I posted a while back that I’m only holding Bitcoin and ethereum but I did recently buy some ORN. I am feeling quite confident on this project they have an upcoming collaboration with coinbase that has been hinted at for months and a crazy low market cap with so much room for growth. I’m willing to hold this for 3-5 years with a £500 target in mind (currently £5.90).
Obviously dyor if you want to invest.
 
StrawberryCream said:
Yeah they aren’t the same coin? Please look at the supply and market cap. You must not know very much about crypto if you think shiba is going to where doge is

Just wanted to add as well even if shiba had the same market cap as Bitcoin (will never happen) it still doesn’t hit 1cent. Huge dip coming soon for shiba so many about to get rekt.
Never buy the news

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I have some of this got it about 4 months ago and doge coin
 
Wonder what today’s Shibantics are going to be. People are still buying today even after it slumped. I knew yesterday’s rocket wasn’t sustainable and it would plummet back but wtf and how is it pulling this black magic? And wtf did it do to the market as a whole 😬 everything I had got knocked whilst Shib soared. It’s made huge gains this week. More confused than ever and making me think I haven’t got as much of a layman’s clue as I thought 🧐
 
Doc said:
Wonder what today’s Shibantics are going to be. People are still buying today even after it slumped. I knew yesterday’s rocket wasn’t sustainable and it would plummet back but wtf and how is it pulling this black magic? And wtf did it do to the market as a whole 😬 everything I had got knocked whilst Shib soared. It’s made huge gains this week. More confused than ever and making me think I haven’t got as much of a layman’s clue as I thought 🧐
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Bitcoin is up nearly £2k this morning so market is starting to move again. Noticed a doge pump yesterday too as Shib and Doge were the top movers of the day. bleeping dog coiners trying to outdo each other 😭
 
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StrawberryCream said:
Bitcoin is up nearly £2k this morning so market is starting to move again. Noticed a doge pump yesterday too as Shib and Doge were the top movers of the day. bleeping dog coiners trying to outdo each other 😭
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I’ve only got BTC, ETH and NKN at the minute and I’m a long holder, mainly because I’m not totally clued up. I have to confess I’m a bit envious of all these quick gains being made. I don’t think I’ve got the time to watch and stress over the rollercoaster dog coins though.
 
Doc said:
I’ve only got BTC, ETH and NKN at the minute and I’m a long holder, mainly because I’m not totally clued up. I have to confess I’m a bit envious of all these quick gains being made. I don’t think I’ve got the time to watch and stress over the rollercoaster dog coins though.
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You had to be holding Shib at the beginning of the year to have made any serious money, anyone jumping in now or even May won’t be making much unless they have invested a high amount, it’s really not worth the risk as it could crash to 0 anyday the supply is so high that it’s worthless. Bitcoin is limited supply only 21m exist there will never be anymore and I believe around 3-4m are in lost wallets that will never be retrieved. Holding Bitcoin long term is the best investment you can make IMO. People believe that in 10-15 years time this could surpass the MC of gold, that would put Bitcoin at over $5m a coin.
 
StrawberryCream said:
You had to be holding Shib at the beginning of the year to have made any serious money, anyone jumping in now or even May won’t be making much unless they have invested a high amount, it’s really not worth the risk as it could crash to 0 anyday the supply is so high that it’s worthless. Bitcoin is limited supply only 21m exist there will never be anymore and I believe around 3-4m are in lost wallets that will never be retrieved. Holding Bitcoin long term is the best investment you can make IMO. People believe that in 10-15 years time this could surpass the MC of gold, that would put Bitcoin at over $5m a coin.
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I totally agree, I believe it is the best investment too. I started with investing a low 3 figure sum in 2017 and even though it’s been hairy at times, I’ve topped six figures this year. If my initial sum had just been sat in a savings account it would have done Jack and tit in that 4 years. I know nothing is realised until you cash out and you have to pay tax, but I’m grateful for 2017 me for starting and at least giving me a bit of retirement potential.
 
Doc said:
I totally agree, I believe it is the best investment too. I started with investing a low 3 figure sum in 2017 and even though it’s been hairy at times, I’ve topped six figures this year. If my initial sum had just been sat in a savings account it would have done Jack and tit in that 4 years. I know nothing is realised until you cash out and you have to pay tax, but I’m grateful for 2017 me for starting and at least giving me a bit of retirement potential.
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I can’t think of anything else other than crypto you can make this kind of profit in such a short space of time, it proves how early in the game we are. I started DCA £100 a month in 2019 and we decided to make a huge decision to invest my savings in early 2020 when there was a crash, people that don’t understand Bitcoin would think I was insane but it’s the best decision Iv ever made.
 
There’s hundreds of shitcoins launched, knowing which one will stick and buying enough is a lottery in itself.

There’s something weird about Shib though. I think the exchanges might be some of the whales, propping it up to get news and interest from people who have never dealt in crypto before. They’re raking it in with transaction fees. Coinbase had a weird “update” the other night that cooled off buying (but didn’t kill it). Also it looked like some whale had an auto sell off to stall growth rate. 🧐 It smells like an experimental corporate shitcoin to me.
 
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