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bitcoin price rising - alternatives for portfolio - tips for next big price rise

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  • Originally posted by Stanley View Post
    My 3 golden rules:
    1. Only ever invest in what you can afford to lose.
    2. Never base investment decisions on FOMO, emotions and greed - only research, analysis and due diligence.
    3. Buy on the dips, sell on the highs.
    Sound advice, but I know many people who are getting involved in Bitcoin right now aren't doing this.

    I know guys here that are ploughing virtually all of their surplus salary into Bitcoin. The Rand typically only goes 1 way, down. And they are seeing their money appreciate at such a rapid rate in Bitcoin. It's this type of in investment that has sent Bitcoin parabolic. And in my eyes, has caused unsustainable growth and an unusually high valuation for Bitcoin.

    I'm certain there is a heavy correction coming. But like everyone else, I don't know when that will happen or what the catalyst for it might be. The current growth is completely driven by FOMO and a huge amount of consumer confidence in Bitcoin. All it takes is something to shake that confidence a bit and things could take a very different trajectory.
    Co-Founder of the Dubai R's
    Follow me on Twitter @Tarbie82

    Comment


    • Originally posted by Stanley View Post
      ...all very interesting though when you get the likes of John McAfee, founder of McAfee anti-virus software confidently predicting 1 Bitcoin to rise to $1 million by the end of 2020...
      Not being funny mate, but that guy is a lunatic who literally got away with murder a few years back.
      Co-Founder of the Dubai R's
      Follow me on Twitter @Tarbie82

      Comment


      • I did make a tentative approach about buying a few months back but got jittery after being pestered by a guy wanting me to invest. He was telling me how much he had made in a very short period and made it look like a no brainer but still I am sceptical. I said if it was so good why didn't all big companies and governments get into it. Should we be forwarding the info to uncle Tony, he's looking to make big money.

        I want to do it but just not sure the best and most risk free journey to take (who/where/when)
        I blew a lot on vodka and tonic, gambling and fags. Looking back, I think I overdid it on the tonic. - The one and only Stanley Bowles

        Comment


        • Originally posted by Hertford Hoop View Post
          I did make a tentative approach about buying a few months back but got jittery after being pestered by a guy wanting me to invest. He was telling me how much he had made in a very short period and made it look like a no brainer but still I am sceptical. I said if it was so good why didn't all big companies and governments get into it. Should we be forwarding the info to uncle Tony, he's looking to make big money.

          I want to do it but just not sure the best and most risk free journey to take (who/where/when)
          I was given exactly the same pitch about carbon credits about 5 years back, and that one didn't end well, did it? I actually think the Dubai company who pitched me went t*ts up and the owners had to flee the country.

          That said, I'm sure crypto currencies are a better bet than carbon credits ever were. It just worries me a bit when you see these wideboy salesman set up shop to peddle the latest investment trend. I just rarely ends well, does it?
          Last edited by Tarbie; 19-12-2017, 01:01 PM.
          Co-Founder of the Dubai R's
          Follow me on Twitter @Tarbie82

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          • Polly Peck comes to mind
            I must away now, I can no longer tarry
            This morning's tempest I have to cross
            I must be guided without a stumble
            Into the arms I love the most

            Comment


            • Originally posted by Tarbie View Post
              Not being funny mate, but that guy is a lunatic who literally got away with murder a few years back.
              Allegedly. Wouldn't describe him as a lunatic as he's a self-made multi-millionaire so obviously has a good business brain, but yes he's certainly a very controversial character.
              IMO
              YMMV
              LOL

              Comment


              • Originally posted by Stanley View Post
                Allegedly. Wouldn't describe him as a lunatic as he's a self-made multi-millionaire so obviously has a good business brain, but yes he's certainly a very controversial character.
                There was an interesting documentary about him doing the rounds a few years back. I think it was on the Vice News channel. He was up to some pretty fruity stuff in Central America, living with a harem of barely legal local ladies in Belize and partying very hard. He was prime suspect in a murder case and if memory serves correct, ended up fleeing the country altogether.

                Not saying the guy doesn't have a business brain on him, cos clearly he has (or at least did at some stage in his life). I'm not sure I'd look to him as an authority on sound investment opportunities these days however!
                Last edited by Tarbie; 19-12-2017, 01:39 PM.
                Co-Founder of the Dubai R's
                Follow me on Twitter @Tarbie82

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                • I first used bitcoin years ago for necessity (silk road etc) but have never completely trusted it holistically and the past year or so has only reinforced that. I am generally skeptical about everything though

                  Comment


                  • Interesting article: https://www.express.co.uk/news/world...nburg-CoinDesk

                    The same transcript has been used for articles in a number of publications and websites today. I wonder if that may have been a factor in the flash crash we've seen in Bitcoin in the last 24 hours?
                    Last edited by Tarbie; 20-12-2017, 11:46 AM.
                    Co-Founder of the Dubai R's
                    Follow me on Twitter @Tarbie82

                    Comment


                    • BTC and all altcoins have spikes and troughs because this is a super-compressed timescale, digital versus analogue - and things happen far more quickly than we're used to in terms of markets. Nevertheless - consider this thread: I started it in March 2016 (and this was following on from an earlier thread I'd started about crypto), which in digital terms is already a long time. You can see the evolution of btc and other altcoins just by reading through this thread. You can also see that there have been many peaks and troughs along the way, but it's still going strong (stronger than ever) and what is the overall trend? Up. Up. Up. And that's not because it's a bubble - as Stan rightly points out - that's because we're witnessing the take up of an entirely new technology, a an entirely new way of doing things, so inevitably, there will be a jagged graph of its progress.

                      As for the investor you've cited above Tarbs, from that renowned financial institution the Express (and other MSM outlets), he's just playing a pump and dump game, I'd say, and looking to make massive gains out of it. I take all such stories with a pinch of salt anyway. The mainstream is still having kittens about the whole thing and tends to have at least three convulsive freak outs a week about it at the moment.

                      Comment


                      • Quick question for you Hubs if you don’t mind.
                        I bought into bitcoin a few weeks ago and read one of your posts about how you were nearly scammed when you sold a few recently.
                        I’m in it for the long haul so to speak but when I do come to sell, what’s the process and what advice would you give.
                        Also, I remember Stan mentioning about how to keep your coins safe etc.
                        Assuming my investment grows to be substantial, I’d like to be able to sleep at night in the knowledge that some little scrote doesn’t hack into my account.
                        You know your onions on this so if really value and appreciate your advice.
                        I know pretty much #### all about how it all works but was happy to take the risk.
                        I’d hate to see it pay off someday only for someone else to benefit.
                        In layman’s terms please !
                        He'll regret it till his dying day, if ever he lives that long

                        Comment


                        • Originally posted by Itsonlyagame View Post
                          Quick question for you Hubs if you don’t mind.
                          I bought into bitcoin a few weeks ago and read one of your posts about how you were nearly scammed when you sold a few recently.
                          I’m in it for the long haul so to speak but when I do come to sell, what’s the process and what advice would you give.
                          Also, I remember Stan mentioning about how to keep your coins safe etc.
                          Assuming my investment grows to be substantial, I’d like to be able to sleep at night in the knowledge that some little scrote doesn’t hack into my account.
                          You know your onions on this so if really value and appreciate your advice.
                          I know pretty much #### all about how it all works but was happy to take the risk.
                          I’d hate to see it pay off someday only for someone else to benefit.
                          In layman’s terms please !
                          Hello mate, well selling btc is pretty straightforward. On localbitcoins you simply choose the method you'd like to receive payment by i.e. bank transfer and then look at the prices people are offering to buy for. If you find a price you're happy with and you like the person's profile (everyone trading there has a profile with their entire transaction history and comments, like ebay etc.) then you enter into a trade with them (you decide how much you want to sell). Once that is agreed, the btc automatically go into escrow, which is to protect both the vendor and the buyer. As soon as you soon the money hits your bank account, you release the btc from escrow. Simple.

                          As for wallets, well, I don't recommend keeping your btc (or any other altcoins) in an exchange wallet unless you want to trade them. I definitely recommend the blockchain.info wallet as I've had it for over 7 years now. I also recommend the exodus.io wallet, which you download and it sits on your desktop. This is great if you want to do some exchanging as it has that function built-in (although its range of altcoins is a bit limited). IF you want to go even more secure, I think Stan has recommended a trezor wallet, which you can buy online and it stores your crypto in the hard key (I think - Stan may correct me- like a memory stick). You can also choose two-factor security with most wallets, or use google two-factor - which means a code is sent to your phone every time you want to use your wallet. I tend to use a few wallets and keep some on exchanges in case I want to sell/exchange. The key thing is to REMEMBER YOUR PASSWORD!!!

                          Good luck mate.
                          Last edited by Hubble; 20-12-2017, 02:26 PM.

                          Comment


                          • Originally posted by Itsonlyagame View Post
                            Also, I remember Stan mentioning about how to keep your coins safe etc.
                            This is my earlier post on that Itso:

                            Originally posted by Stanley View Post
                            This is probably the most important advice for keeping your funds secure. Ledger Nano S and Trezor do the best hardware wallets. Exodus is one of the safest online wallets as it has lots of security measures. Online wallets are fine for smaller amounts. Never store funds on exchanges though - too risky to hacks, companies going out of business etc...
                            The Ledger Nano S is IMO the best hardware wallet (they look like a pen-drive), which is the safest & most secure way to store funds, especially important if it's for large amounts.

                            Blockchain.info and Exodus are both excellent too and ideal for more modest amounts - but those are online wallets (warm storage), so can never be AS secure as offline hardware wallets (cold storage) like the Ledger Nano S or the Trezor.
                            IMO
                            YMMV
                            LOL

                            Comment


                            • Originally posted by Hubble View Post
                              BTC and all altcoins have spikes and troughs because this is a super-compressed timescale, digital versus analogue - and things happen far more quickly than we're used to in terms of markets. Nevertheless - consider this thread: I started it in March 2016 (and this was following on from an earlier thread I'd started about crypto), which in digital terms is already a long time. You can see the evolution of btc and other altcoins just by reading through this thread. You can also see that there have been many peaks and troughs along the way, but it's still going strong (stronger than ever) and what is the overall trend? Up. Up. Up. And that's not because it's a bubble - as Stan rightly points out - that's because we're witnessing the take up of an entirely new technology, a an entirely new way of doing things, so inevitably, there will be a jagged graph of its progress.

                              As for the investor you've cited above Tarbs, from that renowned financial institution the Express (and other MSM outlets), he's just playing a pump and dump game, I'd say, and looking to make massive gains out of it. I take all such stories with a pinch of salt anyway. The mainstream is still having kittens about the whole thing and tends to have at least three convulsive freak outs a week about it at the moment.
                              Mate, I take everything I read in the Express with a pinch of salt. I also think you are quite right in saying that Emil Oldenburg announcing that he dumped all of his Bitcoins is a move motivated by his own personal gain. But he is the co-founder of Bitcoin.com, surely an authority when it comes to Bitcoins. For a guy in his position to make an announcement like that, it's bound to have knock-on effects to confidence in Bitcoin and ultimately, it's trading price.

                              There are also a few other factors at play today. Coinbase froze trades of Bitcoin Cash as a result of reported insider trading. I'm assuming that is all interlinked with the story of Emil Oldenburg trading all his Bitcoins for Bitcoin Cash.

                              Many news outlets are reporting this to be more than a wobble, have a look at this article suggesting it may drop as low as $11k. https://www.coindesk.com/low-can-bit...1k-might-play/

                              Whether it's all just media hysteria, or something bigger. Only time will tell I guess.
                              Last edited by Tarbie; 20-12-2017, 02:50 PM.
                              Co-Founder of the Dubai R's
                              Follow me on Twitter @Tarbie82

                              Comment


                              • Originally posted by Tarbie View Post
                                Mate, I take everything I read in the Express with a pinch of salt. I also think you are quite right in saying that Emil Oldenburg announcing that he dumped all of his Bitcoins is a move motivated by his own personal gain. But he is the co-founder of Bitcoin.com, surely an authority when it comes to Bitcoins. For a guy in his position to make an announcement like that, it's bound to have knock-on effects to confidence in Bitcoin and ultimately, it's trading price.

                                There are also a few other factors at play today. Coinbase froze trades on Bitcoin Cash as a result of reported insider trading. I'm assuming that is all interlinked with the story of Emil Oldenburg trading all his Bitcoins for Bitcoin Cash. [/URL]
                                Tarbie, that's because the founders of Bitcoin.com are all behind 'Bitcoin Cash' which is in direct competition with Bitcoin, so it's just dirty tactics basically to attempt to devalue Bitcoin. One of the main causes for yesterday's flash crash was due to Bitcoin Cash commencing trading on Coinbase and its Gdax exchange, but as you'll see now BTC has already recovered from it.

                                More here:

                                https://cointelegraph.com/news/bitco...o-bitcoin-cash

                                https://www.bitcoin.com/info/bitcoin-cash-is-bitcoin
                                IMO
                                YMMV
                                LOL

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