Bitcoin, cryptocurrencies……..investment or gambling ?

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  • #67284
    Bert pool WANTED $2
    Outlaw

    Your thoughts

    #67301
    springbrucesteen WANTED $60
    Outlaw

    Big punt , never know where it’s going , was at £20,000 then crashed , was at £6000 for a while , crashed to about £3000 , same old story if you had got in at £3000 few months ago you would have doubled money but be tempted to hold on

    #67312
    ZildjianNL WANTED $9
    Outlaw

    Depends if you’re able to be constant on a strategy that works for you and suits you. There are several strategies/options to choose from, you’ll have to get a bit familiar with the crypto trading world and try yourself to see what suits you. I consider buying/selling on speculations to be gambling. There are certain ways to narrow down risks if you look into it (it’s never risk free tho).

    The most important two basic rules, in my opinion, are to remember to never buy high and sell low and never, ever get emotions involved with crypto trading.

    eg. The lack of trust in BTC when it hit 3000. If you did some research for yourself then, invest some time, had bought some, you’d have more than doubled your investment by now. I’m not stepping in now, since I consider it to much of a risk, but there are other coins that you can research and determine if you’d find the risk of investing in them reasonable or not at this moment.

    In general; (crypto) trading isn’t learned in 2 days time. All people that have a certain amount of success from trading have spent at least 6 months (if not more) trying to find their way into it, before they had a strategy that works and keep improving every day.

    If you’re new to it, I’d suggest to make a free account on Tradingview.com. Pretend that you’re going to invest, set markings on the graph where you bought and sold, and keep track of it as time passes; You’ll discover if you’d made good decisions or not and can improve your strategy with no money involved. When you’re comfortable with it, you could try and do some real trading.

     

    I’m no expert on trading, but I do some myself. This is from my point of view and I hope it contributed to your original question.

    Cheers!

     

    #67337
    springbrucesteen WANTED $60
    Outlaw

    ZildjianNL wrote:

    Depends if you’re able to be constant on a strategy that works for you and suits you. There are several strategies/options to choose from, you’ll have to get a bit familiar with the crypto trading world and try yourself to see what suits you. I consider buying/selling on speculations to be gambling. There are certain ways to narrow down risks if you look into it (it’s never risk free tho).

    The most important two basic rules, in my opinion, are to remember to never buy high and sell low and never, ever get emotions involved with crypto trading.

    eg. The lack of trust in BTC when it hit 3000. If you did some research for yourself then, invest some time, had bought some, you’d have more than doubled your investment by now. I’m not stepping in now, since I consider it to much of a risk, but there are other coins that you can research and determine if you’d find the risk of investing in them reasonable or not at this moment.

    In general; (crypto) trading isn’t learned in 2 days time. All people that have a certain amount of success from trading have spent at least 6 months (if not more) trying to find their way into it, before they had a strategy that works and keep improving every day.

    If you’re new to it, I’d suggest to make a free account on Tradingview.com. Pretend that you’re going to invest, set markings on the graph where you bought and sold, and keep track of it as time passes; You’ll discover if you’d made good decisions or not and can improve your strategy with no money involved. When you’re comfortable with it, you could try and do some real trading.

     

    I’m no expert on trading, but I do some myself. This is from my point of view and I hope it contributed to your original question.

    Cheers!

     

    What you think of coinbase ?

    i looked into crypto around about the time it was crashing down from £20,000 , created a coinbase account , was watching videos about different crypto etc , was seriously thinking of a mad punt for bitcoin when it was about £6000 but didn’t and it went down to under £3000,should have went in at that point but your thinking it’s still going to go down more

     

    #67372
    Bert pool WANTED $2
    Outlaw

    Thanks for replays

    I’m a long term hodler, bought last year and leaving it for 3-5 years hoping for mass adoption as crypto becomes mainstream, which I do think will happen.

    I have BTC, LTC, BCH, ETH

    I regret not buying more when the market bottomed, see it as a missed opportunity to load up.

    I happy to sit and wait till it hits my target even if it takes longer. Then I’m cashing out, I know it could potentially disappear but I think the crypto space is now too big to fail and becoming established.

    Trading can become full time occupation plus tax implications confuse things, I now get my gambling kicks from watching the market and investing now and then.

    I do see it as a once in a lifetime opportunity to gain a little financial freedom, as its a new market.

    Good to hear opinions, random opinions

    Rather risk the money than be sat thinking woulda, coulda, shoulda in 5 years time if it goes through the roof

    #67480
    Eightblack WANTED $310
    Outlaw

    I don’t like thinking about it lol in 2015 I had 2btc when they where worth £300 I sold at £600 😔 if only Id hung onto them.. I think its pretty much gambling though its very hard to predict due to the anonymous nature in which they’re traded

    #67474
    ZildjianNL WANTED $9
    Outlaw

    @springbrucesteen

    I’m not going to say if it’s climbing or falling, because I simply don’t know.

    What I do look at is if I’m comfortable with the trends and risks, learning from what happened short- and long term.
    I feel at this moment, the value has gone up so much in a short period of time, that I’d be buying on a high right now, which I consider a risk.

    Personally I’d be happy to invest at least below 4500, so it has the space and potential to go up again.
    Then again, I’m an amateur micro trader, so my profitable margins are very narrow. 😉

    I use Binance myself. GL

    #67504
    Seedy WANTED $572
    Sheriff

    if you’re going to invest 4k or more its much cheaper to buy like 3 antminers or what they are called now and start mining yourself. Maybe look at different crypto currencies like here for values etc.

    https://coinmarketcap.com/all/views/all/

    positives

    if the price drops it only affects your actual mined value, not your full investment as you can easily sell you mining gear afterwards to recoup costs

    if the price goes up your only gaining all the time.

    The initial investment cost is the same.

    Negatives

    Takes time to get through blockchains

     

     

    #67526
    springbrucesteen WANTED $60
    Outlaw

    ZildjianNL wrote:

    @springbrucesteen

    I’m not going to say if it’s climbing or falling, because I simply don’t know.

    What I do look at is if I’m comfortable with the trends and risks, learning from what happened short- and long term. I feel at this moment, the value has gone up so much in a short period of time, that I’d be buying on a high right now, which I consider a risk.

    Personally I’d be happy to invest at least below 4500, so it has the space and potential to go up again.
    Then again, I’m an amateur micro trader, so my profitable margins are very narrow. 😉

    I use Binance myself. GL

    Cheers will have a look at Binance

Viewing 9 posts - 1 through 9 (of 9 total)