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Cryptocurrency

Trying to buy some but my bank has blocked crypto transactions (Lloyds)
Having to go hoops with them to be able to, it's my money I do what I want with it
 
Wow, it's all falling like crazy now. I'm down probably 75% on my assets from about the same time last year. Is the bubble bursting?
 
Robbo said:
Wow, it's all falling like crazy now. I'm down probably 75% on my assets from about the same time last year. Is the bubble bursting?
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I don't think it is, all the financial markets are the same too, a lot of people would have lost a lot of money in 2022
I've brought more low and intend to keep on holding
 
markysimmo said:
I don't think it is, all the financial markets are the same too, a lot of people would have lost a lot of money in 2022
I've brought more low and intend to keep on holding
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I didn't know that all other financial markets are down too, but that makes sense. I will hold everything too, and consider whether I should invest a little more now - which coins are you buying?
 
markysimmo said:
I don't think it is, all the financial markets are the same too, a lot of people would have lost a lot of money in 2022
I've brought more low and intend to keep on holding
Click to expand...

I think there is an element of bubble burst and lack of faith though, I mean you have shares and you can actively gauge or look at something tangible which you can understand, in that I mean you can look at the performance of M&S and it will explain the performance of your investment, where as Cypto just seems like abit of an electronic complicated ponzi scheme, not literally of course but I feel there is a Fugazi about it. And with NFTs being peddled out and being told they are worthless people are just losing faith in my opinion
 
I think crypto just has crazy bull runs then long bear markets, obviously try and get out in the bull market and buy back in lower a few months later but you can still make a lot of money in it as long as you don't do anything dumb.

I lost a bit in Luna but reading stories of people losing millions, their whole portfolios and sadly a few suicides as well. To go from $80 to $0.0000005 in a week is just mental - can't get my head around it.
 
P.D. said:
I think crypto just has crazy bull runs then long bear markets, obviously try and get out in the bull market and buy back in lower a few months later but you can still make a lot of money in it as long as you don't do anything dumb.

I lost a bit in Luna but reading stories of people losing millions, their whole portfolios and sadly a few suicides as well. To go from $80 to $0.0000005 in a week is just mental - can't get my head around it.
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What was Luna ever used for? It had no intrinsic value, now its price reflects that. If it was useful to anyone it would have value.

In short, if something has no real use, any value it carries is based upon speculation only. If that is the case, when faith in it evaporates it falls apart. Maybe Bitcoin is here to stay, but even that is massively overvalued imo.
 
SpurMeUp said:
What was Luna ever used for? It had no intrinsic value, now its price reflects that. If it was useful to anyone it would have value.

In short, if something has no real use, any value it carries is based upon speculation only. If that is the case, when faith in it evaporates it falls apart. Maybe Bitcoin is here to stay, but even that is massively overvalued imo.
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That my question, unless they are within everyday life and used for transactions what is the long term benefit?
 
So is crypto about to implode? I'm seeing lots of stories like that but haven't the interest to read them.
 
The shiba crypto burns have been insane this week. I am so proud of the community and the faith and hard work and discipline they are showing to achieve their and my goals.

I am genuinely humbled by them.
 
Rorschach said:
So is crypto about to implode? I'm seeing lots of stories like that but haven't the interest to read them.
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Certainly looks like it, but then again I'm no expert either. My portfolio has plummeted big time though. It has lost about 80 percent of it's value since the new year. Not that it was a lot to talk about in the first place, but in hindsight of course, cashing out would've been a good idea.
 
Would it really be a bad thing if cryptocurrency went bust? It’s pretty horrible for the environment given the amount of energy it uses per transaction. Not to mention it seems like a Ponzi scheme with no product behind it and no one really understands it.
 
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