Bitcoin, the biggest gamble?

[neon claws]

I've been holding 3 Bitcoin for under a year now and they've almost doubled in value.

The reason I decided to start holding was based on this extrapolation:



Anyone else holding crypto coins?

 

[bamberfishcake]

No but im seriously considering investing a few quid.

What wallet do you use? Do you play with other crypto or just bitcoin?

 

[neon claws]

No but im seriously considering investing a few quid.

What wallet do you use? Do you play with other crypto or just bitcoin?

I use a cold wallet- ledger specifically. It's the safest way if you're going to have anything more than a couple thousand bucks worth.

For transactions I use Independent reserve since I'm an Aussie.

I avoid other coins like the plague.
My friend and I went in initially with about the same amount but he kept trying to time the market and get new coins for 100's of percent gains overnight etc.
He ended up down $15k before pulling out entirely before the latest gains so a further potential loss of maybe another $15k, I'm up $30k just by not panic selling.

 

[bamberfishcake]

I use a cold wallet- ledger specifically. It's the safest way if you're going to have anything more than a couple thousand bucks worth.

For transactions I use Independent reserve since I'm an Aussie.

I avoid other coins like the plague.
My friend and I went in initially with about the same amount but he kept trying to time the market and get new coins for 100's of percent gains overnight etc.
He ended up down $15k before pulling out entirely before the latest gains so a further potential loss of maybe another $15k, I'm up $30k just by not panic selling.

Oh thanks for sharing. My investment would only be a few hundred quid so not even a whole coin. To be honest i dont have the money to invest significantly in bitcoin or i probably would.

My pal has an app he plays with and you can easily invest in different crypto's and hes made a few hundred quid for a few hundred in on his account so far over the last year. Ill probably try that route to start but if i could afford it i would go for a longer term investment on bitcoin.

Speaking with very little knowledge on the subject its clear to see that cyrpto is a very different proposition to what it was when it started and something it might be wise to keep tabs on. I wonder if the failing financial systems and economic struggles in the current climate might add some weight to crypto's booming.

 

[neon claws]

To be frank it isn't much cop as a currency or store of value, it is now, and perhaps almost always was a speculative investment. Or the world's biggest Ponzi scheme.. either way people are pouring shedloads of money in to it.

 

[Slottery]

It's up to how to use it, it can be as speculative investment which you just hold and see if your're millionaire one day or you can earn interest them as well (personally i don't just want to hold something if somebody pay 8-10% interest if i hold it in their project), which of course have risk attached that you decided to deposit them to place which go busted or is scam but that's why we do our DD.

Having few different cryptos, most of these tier1 types which don't most probably don't lose their all value overnight, then some quite speculative tokens from projects i personally like and think they could be valued if their roadmap goes as planned. After already qutie some years, i'm happy that i have got more euros from these assets than i ever paid (and i never had sold any) so if somebody pulls blug out from whole crypto world, i'm still happy what i got from there.

More and more projects are providing more ways to people invest and use cryptos and connect them to accounts which support fiat currencies as well and gives you iban and atm card for everyday use which have made it for anyone without any previous knowledge (ok, being able to google) to buy cryptos with £20 or what ever amount. Been participating to some ICO:s and crowdfundings of companies i've been liking and these have made much more than any coin or token itself which is just one asset, equity from some company which do manage to get their product out can make much nicer longer term profit but you also risk your money by funding these so not recommend to anyone without knowing what doing or not able to make risk analysis and other DD.

Utilizing of these coins is growing all the time, also stable coins were invented (value attached to some fiat currency like usd), most probably we are not moving back to pay in physical gold or something we used to, these days cash start to be minority compare to contactless payment methods which are accepted almost everywhere so would guess we move more and more for electronic payments and getting less and less cash as less and less places you need it anymore.

 

[Slottery]

I've been holding 3 Bitcoin for under a year now and they've almost doubled in value.

The reason I decided to start holding was based on this extrapolation:



Anyone else holding crypto coins?

Your gamble just hit $20k line (one BTC). This can be very different than 2017 when money pumped there was mainly just from "normal" people who wanted to buy and hold cryptos, now more and more institutional investors been buying them and investing to different companies which provide some more utilization for cryptos and make it very easy and simple for anyone to buy BTC or what ever crypto with €£$20 or what ever amount in minutes.

 

[slotmaster]

I was a holder bought at $3000 but now going to try and take smaller profit and day trade kind of thing I am think.

Also my tech stock reached a record high yesterday and up 44.5 percent in 2 days. Tee hee

 

[KasinoKing]

Anyone else holding crypto coins?

Yes... unfortunately

It all started when Btc shot up in December 2017: I was holding a couple at the time, so I decided to "invest" in about 10-12 other coins in the hope they would go the same way... Big Mistake!

In the last few weeks, a few have finally gone above my buy price after being 50-99% DOWN for 2 years.
Luckily I only bought a couple of $100 of most.
My worst buy was SALT - I bought $2,900 worth and in Feb 2020 they were worth... $15
At least today they are worth $77
LiteCoin also turned over $8,000 into $3,000.

My big hopes are on Ripple: I have 10,000 and am waiting for them to go above my buy price of $0.62 (they are close!)
And on Funfair: I have over a million of them! Would be nice if they could hit a dollar (currently $0.0042)

These may sound like big $ amounts to some people - but all these coins were bought using profit gained by the rapid rise in the Bitcoin value - so even if they all went to $0 I wouldn't be out of pocket

KK

 

[Slottery]

My big hopes are on Ripple: I have 10,000 and am waiting for them to go above my buy price of $0.62 (they are close!)
And on Funfair: I have over a million of them! Would be nice if they could hit a dollar (currently $0.0042)


KK

Have quite big portion of Ripple as well (from my crypto portfolio, not huge amounts in general), have good faith on them too At least there was Flare airdrop few days ago for Ripple holders, have no idea what's that gonna be but if you get them as airdrop, can't lose anything i guess. Having very few alt-coins, only some i believe have decent product for utilization, there are so many which just are there for speculation without real utilization, don't really like to get in these where all value is based on pretty much nothing.

 

[mumblesmountain]

The main issue I have with Ripple, is that their whole thing which differentiated them from all the other projects, was both their willingness and ability to integrate with the banking institutions.

I won't argue about whether that integration would be considered centralizing their blockchain, the fact that Ripple was 100% premined, or if it is more of digital fiat rather than a crypto currency. Mainly because I'm stupid and do not have that solid of a grasp on the fundamentals of blockchain security/design.

I do think the biggest threat facing Ripple, is the fact JP Morgan created their own version of Ripple, and they have a much better chance of getting the banks to adopt their product, rather than the Ripple team.

 

[neon claws]

Holding Bitcoin is risky, but historically a profitable, although volatile, investment.
Speculating on altcoins is to my mind, insanely suicidal, unless you're flipping them within a week and I ain't got the stomach for that kind of stress.

 

[Slottery]

The main issue I have with Ripple, is that their whole thing which differentiated them from all the other projects, was both their willingness and ability to integrate with the banking institutions.

I won't argue about whether that integration would be considered centralizing their blockchain, the fact that Ripple was 100% premined, or if it is more of digital fiat rather than a crypto currency. Mainly because I'm stupid and do not have that solid of a grasp on the fundamentals of blockchain security/design.

I do think the biggest threat facing Ripple, is the fact JP Morgan created their own version of Ripple, and they have a much better chance of getting the banks to adopt their product, rather than the Ripple team.

We'll see how it goes, next few years probably tells where they might get. I still like Ripple and there are numerous of projects around it (like that mentioned Flare and others) making more use of it and hopefully providing some decent smart contract network for Ripple which would provide easy transfers for assets etc.. No need to be adopted by banks, there already are quite big number of people using other assets than fiats, can't see that amount really dropping dramatically but opposite when more and more people every year use cryptos more and less. I have hopes that it's not dropping much under $0.15 what around paid from it.

 

[neon claws]

Hitting all time highs again now...

 

[mumblesmountain]

We'll see how it goes, next few years probably tells where they might get. I still like Ripple and there are numerous of projects around it (like that mentioned Flare and others) making more use of it and hopefully providing some decent smart contract network for Ripple which would provide easy transfers for assets etc.. No need to be adopted by banks, there already are quite big number of people using other assets than fiats, can't see that amount really dropping dramatically but opposite when more and more people every year use cryptos more and less. I have hopes that it's not dropping much under $0.15 what around paid from it.

Oh man, that was a great price to get in at. I loaded up on it when it was trading sideways at $0.28.
II think it is a matter of time until it breaks the $1 price level, and then from there, anything could happen

 

[neon claws]

I have over $100,000 in Bitcoin now.. yikes!

 

[slotmaster]

Yes... unfortunately

It all started when Btc shot up in December 2017: I was holding a couple at the time, so I decided to "invest" in about 10-12 other coins in the hope they would go the same way... Big Mistake!

In the last few weeks, a few have finally gone above my buy price after being 50-99% DOWN for 2 years.
Luckily I only bought a couple of $100 of most.
My worst buy was SALT - I bought $2,900 worth and in Feb 2020 they were worth... $15
At least today they are worth $77
LiteCoin also turned over $8,000 into $3,000.

My big hopes are on Ripple: I have 10,000 and am waiting for them to go above my buy price of $0.62 (they are close!)
And on Funfair: I have over a million of them! Would be nice if they could hit a dollar (currently $0.0042)

These may sound like big $ amounts to some people - but all these coins were bought using profit gained by the rapid rise in the Bitcoin value - so even if they all went to $0 I wouldn't be out of pocket

KK

Fun up 15% earlier this evening FYI, Probably dropped down again to absolutely nothing already, but I thought of you when I saw that,lol.

 

[mumblesmountain]

As long as big institutions continue to dump money into it (using it as a high risk high reward in an attempt to increase their return %) I am optimistic about the future, especially short term.

Seems to be worse and worse news with Ripple everyday, as more and more exchanges are removing it as an available asset to trade, thanks to the lawsuit started by the SEC. This likely is also contributing to the higher prices as retail investors are moving coins from Ripple to other stable coins.

Also, I read that for the first time in a long while, the activity of the "whales" have almost completely subsided for the time being.

My understanding is that a substantial amount of investors were shorting BTC on futures exchanges, and with the rally in price on 12/25/2020, about 131-million dollars worth of futures contracts in short positions were liquidated in a 24-hour timeframe.

What remains to be seen is how the community reacts to all these regulations attempting to be put in place by the US government, targeting individual wallets, and imposing over the top KYC verifications when transferring over $3,000 as well as requiring information on who the receiving party is, their info, and what sounds similar to SOW verification checks.

I always understood Bitcoin as being the exit strategy from government oversight and banking by design, and I am hearing arguments on both sides of table with this. The crypto purists claim there are protections put in place, making these attempts of regulation pretty much just empty threats with easy ways to bypass (not using CoinBase or similar exchanges for example).

I have also heard the argument that if crypto community wants to achieve the mass public adoption that has been talked about for years, bitcoin will need to play with the rules of the banks and institutions, and becoming part of the current government surveilled and controlled establishments that Bitcoin was was supposed to replace.

My knowledge on the subject is almost entirely connected to the US markets and regulations, so I would love to hear how things look/unfolding in other jurisdictions around the world

 

[neon claws]

Over here in .au we take our lead from the US pretty much. Whatever fresh hell you guys come up with we'll be imitating it in 2-3 years.

 

[KasinoKing]

Fun up 15% earlier this evening FYI, Probably dropped down again to absolutely nothing already, but I thought of you when I saw that,lol.

Thanks!
Even though I have over a million Fun, they are very low value and so I am only about $4,000 down on my buy price at the moment.
That sounds terrible, but I also have nearly 3Btc - and they have gone UP more than $20,000 in the last month...

Ripple are a disaster though - should have cashed out when they got back to my buy price last month...
Hindsight is a bastard

KK

 

[neon claws]

Thanks!
Even though I have over a million Fun, they are very low value and so I am only about $4,000 down on my buy price at the moment.
That sounds terrible, but I also have nearly 3Btc - and they have gone UP more than $20,000 in the last month...

Ripple are a disaster though - should have cashed out when they got back to my buy price last month...
Hindsight is a bastard

KK

I've seen many people lose by trying altcoins, as if the risk and gains from btc aren't enough.

 

[mumblesmountain]

Well hopefully not with this FinCen Regulation. Hopefully the rest of the world sees this as nothing more than a ditch last effort by the outgoing administration, in an attempt to try and control something which they do not fully understand. The only thing this will do is cause blockchain companies to leave the United States, and will end up causing us to fall behind, since they are stifling innovation.
They shouldn't have spent years associating Bitcoin as nothing but worthless magic internet money.

 

[mumblesmountain]

Pretty interesting that crypto derivatives exchanges like Debrit started offering options contracts for calls and puts with a strike price of a $100,000 expiring on 09/24/2021

Then a couple of days later after the most recent rally on Christmas, they added two more contracts with a strike price of both $120,000 & $140,000

Not totally sure if this is an indicator of bullish sentiment in the market, or if everyone is just losing their minds.

 

[Slottery]

Coinmotion stoppin XRP trading due to SEC lawsuit, it's not news that would actually raise the price of them. Got rid of some in Dec, might buy back, will see how things are going.

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.

One toke i own quite big and also invested companies equities in their previous crowdfunding bit over doubled in last two days, sold some and bought bit smaller amount back 10% cheaper. Doing pretty much same with most of cryptos i have, don't have any emotional relationship to any to just hold them without getting any interest (which getting most of them which are listed to exchanges who pay interest), in cryptos is just quite normal to see volatility and ups and downs for tens percents in day which makes it much easier to do some "day trading" compare to other assets.

Now it's very end of the year, many also might get rid of something which have dropped and don't like to hold anymore, losses can be still claimed for his tax year when they don't feel really bad (assuming that have some gapital gains where paying taxes).

 

[Slottery]

Pretty interesting that crypto derivatives exchanges like Debrit started offering options contracts for calls and puts with a strike price of a $100,000 expiring on 09/24/2021

Then a couple of days later after the most recent rally on Christmas, they added two more contracts with a strike price of both $120,000 & $140,000

Not totally sure if this is an indicator of bullish sentiment in the market, or if everyone is just losing their minds.

Start to have many classical signs of this take corrections sooner or later, have gained quite nicely from last months, exchanged nice position to stables already as well so not gonna cry for big drop at all, great chance to buy cheap again but every day this going up continue can put some more in safe, it's been long enough to make some nice profits, now any extra day going up or staying high is extra sweet for weekends.

 

[neon claws]

Holy cow you guys need to be buying Bitcoin, it's going nuts.

 

[Slottery]

Holy cow you guys need to be buying Bitcoin, it's going nuts.

Not really, keep selling it all the time while it goes up to keep my $ amount position same, don't wanna own too much one asset and getting much higher interest rate for stables/fiats than btc.

 

[slotmaster]

Holy cow you guys need to be buying Bitcoin, it's going nuts.

@Scott1baird for the holy cow experience.

 

[slotmaster]

Not really, keep selling it all the time while it goes up to keep my $ amount position same, don't wanna own too much one asset and getting much higher interest rate for stables/fiats than btc.

English please,lol

 

[geordiecolin]

Holy cow you guys need to be buying Bitcoin, it's going nuts.

The best time to have bought into bitcoin was back in the spring. Maybe it has just about hit its peek now? Buying and selling it at the right time could be extremely lucrative

 

[neon claws]

Not really, keep selling it all the time while it goes up to keep my $ amount position same, don't wanna own too much one asset and getting much higher interest rate for stables/fiats than btc.

You're getting a higher interest rate than 400%/pa?

 

[Slottery]

You're getting a higher interest rate than 400%/pa?

Nope, don't think any coin return 400% annum for ever so for me it makes sense not to own too much of some certain asset, was it btc, some share, gold or what ever but own some different assets which can buy with btc price raise. If btc ever start to go down in price, will for sure buy it again but don't see it as very tempting just hold btc as an investment, don't easily find any semi-trusted place that would pay over 8% of interest for its value for holding it. I might be quite conservative but in years i've been investing, prices of almost everything tempt to go up and down in cycles and ones only going up for 10 years without downswing are quite rare.

If holding btc in gold storage, not getting any interest rate for it, only it's capital gain which only realize if selling it, that's why rather sell it in parts much as it makes more value instead of just holding it and waiting it raising next 20 years.

 

[slotmaster]

If I actually hit the buy button sooooo many years ago when my poker friend told me about bitcoin and no one knew about it really and it had like no value and I held it to today, I would have $2.1 million.

Bought a litecoin again at like $130 and it just passed $200. Bought ether at $725 and it's like over $1400!

Now for stocks, everyone cross their fingers for my bed bath and beyond stock as they report earnings this week, first bought the stock at a price of $7 and change a share.

Saw some talk on youtube about Nio, BNGO which is up 133% today, so guess they were right so far about that one,lol LI and MARA were the other ones they said to keep an eye on.

 

[KasinoKing]

The best time to have bought into bitcoin was back in the spring. Maybe it has just about hit its peek now? Buying and selling it at the right time could be extremely lucrative

Too right!
I made the big mistake of buying loads of altcoins when they all started rocketing just before Christmas 2017...
Totally the wrong time - should have done it 2 weeks before.
Then I would have made a small fortune instead of losing one.
Hindsight is a b*tch.

3 years later and some of them have finally got back above my buy price!

But the BIG QUESTION no-one can give an answer to with Crypto-currencies is... WHEN is the right time to sell?

KK

 

[slotmaster]

Too right!
I made the big mistake of buying loads of altcoins when they all started rocketing just before Christmas 2017...
Totally the wrong time - should have done it 2 weeks before.
Then I would have made a small fortune instead of losing one.
Hindsight is a b*tch.

3 years later and some of them have finally got back above my buy price!

But the BIG QUESTION no-one can give an answer to with Crypto-currencies is... WHEN is the right time to sell?

KK

Ya that is the question. For me I am conservative or a scaredy cat,lol. So doubling my money is good enough for me,lol.

 

[geordiecolin]

Too right!
I made the big mistake of buying loads of altcoins when they all started rocketing just before Christmas 2017...
Totally the wrong time - should have done it 2 weeks before.
Then I would have made a small fortune instead of losing one.
Hindsight is a b*tch.

3 years later and some of them have finally got back above my buy price!

But the BIG QUESTION no-one can give an answer to with Crypto-currencies is... WHEN is the right time to sell?

KK

Exactly. Do you follow anyone on social media platforms who has been at the forefront of Bitcoin for years and keeps regular updates ?

 

[KasinoKing]

Exactly. Do you follow anyone on social media platforms who has been at the forefront of Bitcoin for years and keeps regular updates ?

Nope.
Hardly have any time for slot spinning these days - let alone reading loads of gumph!

KK

 

[KasinoKing]

Ya that is the question. For me I am conservative or a scaredy cat,lol. So doubling my money is good enough for me,lol.

You're right - we should all be happy with doubling our money - whether it be a casino deposit or some other investment.
I'm scared too - but mainly scared of cashing-out too soon and losing a potential huge pay-day.
e.g. towards the end of 2016 I cashed out a total of 38 Bitcoins for a total of $36,000...
If I had held on to them, today they would be worth $1,292,000

In November I bought $2,135 of Cardano - now worth more than double.
BUT... is that the peak, or will they rocket too? Or will they crash and burn like some other coins I bought?
Who knows!

KK

 

[slotmaster]

You're right - we should all be happy with doubling our money - whether it be a casino deposit or some other investment.
I'm scared too - but mainly scared of cashing-out too soon and losing a potential huge pay-day.
e.g. towards the end of 2016 I cashed out a total of 38 Bitcoins for a total of $36,000...
If I had held on to them, today they would be worth $1,292,000

In November I bought $2,135 of Cardano - now worth more than double.
BUT... is that the peak, or will they rocket too? Or will they crash and burn like some other coins I bought?
Who knows!

KK

Ya I hear ya, I feel the exact same and have sold early many a times only for it to go to record highs. I was telling my co-workers today about my post and if I held on and bought when first told, I would be a millionaire.

Same with housing really, The last house we moved from just sold for $729,000 albeit they did inside work and added a bathroom. We bought it brand newly built, for like $250,000 many years ago and I tried and tried to tell my parents to stay as prices were starting to go up, they did not listen. Right now could have had hundreds of thousands in the bank.........Frustrating.

 

[neon claws]

I'm going to sell enough to have doubled my money and leave the rest in which is still plenty and then review in a couple years.

 

[MrMakaveli]

But how about the fact that we are still not seeing crypto as a payment method at most vendors yet?? Don't you think that once it starts becoming more and more available over time especially if some of the big name companies, for example, Google Play or Apple Pay start using it as a standard payment method, don't you think that it will skyrocket at that point or soon after? I'm not an expert at all but it kinda seems like that is how it would work. Maybe I'm wrong tho

 

[Slottery]

I'm going to sell enough to have doubled my money and leave the rest in which is still plenty and then review in a couple years.

Think that's really nice withdrawal and even BTC would hit $200k this year you still get a nice profit again by having some and whatever happens your "gamble" with this was quite a success, can't turn it a loss anyhow anymore even the whole thing would stop existing. Congratulations.

 

[MrMakaveli]

But how about the fact that we are still not seeing crypto as a payment method at most vendors yet?? Don't you think that once it starts becoming more and more available over time especially if some of the big name companies, for example, Google Play or Apple Pay start using it as a standard payment method, don't you think that it will skyrocket at that point or soon after? I'm not an expert at all but it kinda seems like that is how it would work. Maybe I'm wrong tho

Im just trying to learn here and understand what impact it will have on the value of cryptocurrencies after it has become more mainstreamed and accepted by more & more merchants.. would that make the value of it go up or go down or will it stabilize it? Anyone have any ideas?

 

[Slottery]

Im just trying to learn here and understand what impact it will have on the value of cryptocurrencies after it has become more mainstreamed and accepted by more & more merchants.. would that make the value of it go up or go down or will it stabilize it? Anyone have any ideas?

One reason is huge volatility in cryptos which makes it difficult to pay things when your difference can be anything like 34% within last 24h, BTC was year ago around ten time less valued what it is now, that of course can be sorted by converting prices to usd/euro or what ever fiat currency.

Easiest way at the moment is to keep some of your cryptos (and transfer there always when you want to spend) in some wallet which offer you Debit card (like. crypto.com as one example, many others exist and more and more coming all the time) and you can convert your cryptos to which ever fiat currency inside that wallets exchange and then make your purchase or take money from ATM etc.

I have several different cards which i can top up with cryptos, all have their own benfits and different level cashbacks so when ever i want to use them, i just transfer cryptos (or stable coins of course as well) to that wallet which card i want to use and convert it to Euros. Whole process just take a moment, if i have funds in that wallet in question, then it's just seconds to top up them to card and use it.

There are always more and less volatile assets, some keep making crazy jumps but these are more to buy/sell/trade than use for payments as you often buy them in hope their value increase, but anytime you want to spend part of them and often also when you want to "cashout" some of that price raise, you just exchange them to fiat or stable currencies, i prefer to use stablecoins as these values are connected to fiat currrencies, mostly usd and are like name their name says, really stable with their price. Also for these stable coins, several companies pay you over 10% annual interest just for holding them in their wallet (ie. Celsius, Nexo) which make them quite tempting option compare to have all your funds in bank with 0 interest and these are really fast to transfer compare to banks swift transfers.

Sorry, long messy text made middle of working with not much concentration but posted it anyway

 

[slotmaster]

We are making bank today! On bitcoins and stocks from prior post though it was dropping again at time of this post.

 

[slotmaster]

Well not anymore at the moment. That was quick

 

[Gaz237]

Ya I hear ya, I feel the exact same and have sold early many a times only for it to go to record highs. I was telling my co-workers today about my post and if I held on and bought when first told, I would be a millionaire.

Same with housing really, The last house we moved from just sold for $729,000 albeit they did inside work and added a bathroom. We bought it brand newly built, for like $250,000 many years ago and I tried and tried to tell my parents to stay as prices were starting to go up, they did not listen. Right now could have had hundreds of thousands in the bank.........Frustrating.

That's not how the housing market works. Unless you own a few properties and are selling up.

When your parents sold up, they presumably bought another house, and the price was reflective of the market then.

The house they have bought would now be worth a lot more than was paid at the time.

So they would not have $475k sitting the bank doing nothing.

 

[slotmaster]

That's not how the housing market works. Unless you own a few properties and are selling up.

When your parents sold up, they presumably bought another house, and the price was reflective of the market then.

The house they have bought would now be worth a lot more than was paid at the time.

So they would not have $475k sitting the bank doing nothing.

No, they did not buy again.

 

[MrMakaveli]

One reason is huge volatility in cryptos which makes it difficult to pay things when your difference can be anything like 34% within last 24h, BTC was year ago around ten time less valued what it is now, that of course can be sorted by converting prices to usd/euro or what ever fiat currency.

Easiest way at the moment is to keep some of your cryptos (and transfer there always when you want to spend) in some wallet which offer you Debit card (like. crypto.com as one example, many others exist and more and more coming all the time) and you can convert your cryptos to which ever fiat currency inside that wallets exchange and then make your purchase or take money from ATM etc.

I have several different cards which i can top up with cryptos, all have their own benfits and different level cashbacks so when ever i want to use them, i just transfer cryptos (or stable coins of course as well) to that wallet which card i want to use and convert it to Euros. Whole process just take a moment, if i have funds in that wallet in question, then it's just seconds to top up them to card and use it.

There are always more and less volatile assets, some keep making crazy jumps but these are more to buy/sell/trade than use for payments as you often buy them in hope their value increase, but anytime you want to spend part of them and often also when you want to "cashout" some of that price raise, you just exchange them to fiat or stable currencies, i prefer to use stablecoins as these values are connected to fiat currrencies, mostly usd and are like name their name says, really stable with their price. Also for these stable coins, several companies pay you over 10% annual interest just for holding them in their wallet (ie. Celsius, Nexo) which make them quite tempting option compare to have all your funds in bank with 0 interest and these are really fast to transfer compare to banks swift transfers.

Sorry, long messy text made middle of working with not much concentration but posted it anyway

Thanks your your thorough reply I appreciate your opinion and I agree with you about the stable coins. It makes sense .

Yeah the market is down right now but I'm sure it will still keep climbing for a little while but who knows

What do you think about the idea of buying a few coins of all the new alt coins while there cheap and I'm sure at least one of them will eventually pan out and their price will be like bitcoin someday

 

[Slottery]

What do you think about the idea of buying a few coins of all the new alt coins while there cheap and I'm sure at least one of them will eventually pan out and their price will be like bitcoin someday

We are in gambling forum Personally don't have many different alt coins, only once i think i understand project and think what they are trying to do makes some sense and could have some value in future. There are sooo many different tokens (even for some football club fans, which of course mostly have value like some panini cards you collect), many of them more or less quite useless and some even created just to be there without real plans to make effort to deploy project anywhere, these crazy days you can get people to buy them just nice story in good looking website where you tell how great future you have as new bitcoin

Some might have good upsides and get their price 10 or even 200 times up when they develop, or some only with marketing and making bubble by pumping up the price and then sell them all (pumping is used term when some group of people start shill about some token everywhere all over internet and make people to buy them and for some smaller market cap alt coins, you don't even need huge amount of people and money to make price up). Haven't made that kind of research if would buy almost all of them little bit how it would go, but i strongly assume that there are so few big winners that these don't cover losses of these tokens which never made it anywhere.

There are loads of exchanges that offer trading platforms if you wanna "gamble" some token values by day trading, it's not different for stock or any other assets day trading, you buy something which price you think goes up and then sell with profit, that's quite near of gambling like poker, sports trading etc... where you just "bet" against others, somebody sell, you buy and vice versa, it can be entertaining but have never been interested to trade these margins but it's not far from playing slots as it's fast pace where you buy/sell all the time when price reflects. Some buy and sell alt coins, not day trading but buying and then selling when price goes up some %, as you know cryptos have huge volatilities and some 20-30% up OR DOWN in 24h is something what been happening for even biggest ones like BTC and ETH.

Just my opinion, but if willing to do that, take it as gamble instead of investment and be ready that after your deposit there might not be withdrawal. Also in this like in most of tradings where you try to assume (or guess, nobody know for sure if something goes up or down, otherwise all would just make easy money from that, easy in theory but bit same like poker, if you wanna be professional and constant profitable, you need to work on it quite a lot and need right mindset how to handle losses without tilting etc...) what more you do some research and educate yourself, better chance you have to make profit, it's zero sum game, when you win, it's away from some other person, you don't have to be best but just better than enough people to take their money in long run.

There are several ways you can "gamble" with crypto tradings, trade for small price changes and get them right or try to know which token goes up in price. There are huge amount of people following crypto markets actively, so picking up some token which is great certain success is not really easy when you compete with people who do it almost full time but buying lower and selling higher price is not mission impossible if wiling to make some effort and like gambling, many find trading more way to gamble than slots. But like said, all day trading in my opinion is more or less gamble, if you are good enough to take others money you can make it like in poker but especially in beginning, you are expected to lose some.

My only bit bigger crypto investment is Amon, have of course some of their tokens but participated to their crowdfunding which they just finished in December, they hopefully make laucnh of their Union Pay cards during Q1 and what been speaking with their team and reading their white paper, road map and all other material, thought that it's project where i could invest some money. They are still almost no existent and not promoting themselves until they are ready to start to ship cards for people, hopefully they manage to do right things and get loads of users and would be valued much higher than they raised funds now, but taking that as any other non listed company investment i've done, money is gone and if getting anything back one day, i'm happy