What do you think of the energy consumption/pollution generated by crypto mining Pete?
IIRC your degree (work?) had something to do with environmental studies?
I avoid bitcoin now for that reason. The others seem much better in terms of energy use (obviously still 100% wasteful if you believe they offer no utility, but I do think they will provide actual utility in future), but I must confess it's not something I've looked into in great detail.
Yeah, I guess that's the thing. I'm not convinced that they'll be any use for anything but speculation at this point. I can't see them ever coming back towards being a useful currency alternative anyway.
I reckon they've managed to create enough distrust in themselves that most people won't ever use them.
Re: Dogecoin etc
Posted: Thu Jun 24, 2021 11:47 am
by drcarlos
I was chatting to a friend at the weekend who has invested in something called Hyperfund which looks to trade these low value coins.
He's already got back his original investment having pulled it out via a crypto exchange but what would concern me is that he has introduced others (some investing quite heavily) to the scheme, thereby earning him better rewards.
When I looked, it seemed like nothing more than a ponzi scheme and although he is earning I guess he could be in for a shock when it inevitably implodes.
I told another friend who he'd recruited that he should pull out his original investment ASAP and not recruit anyone into the scheme, anymore advice or am I on the wrong track?
I think it had a warning posted from the FCA in March.
Re: Dogecoin etc
Posted: Thu Jun 24, 2021 11:50 am
by ZedLeg
There are a lot of Ponzi schemes in crypto just now. I'd be wary of anyone asking you to invest with them tbh. It's basically the wild west, any shady get rich quick scheme that's been banned on the stock markets is fair game.
Re: Dogecoin etc
Posted: Thu Jun 24, 2021 12:02 pm
by drcarlos
ZedLeg wrote: ↑Thu Jun 24, 2021 11:50 am
There are a lot of Ponzi schemes in crypto just now. I'd be wary of anyone asking you to invest with them tbh. It's basically the wild west, any shady get rich quick scheme that's been banned on the stock markets is fair game.
I got asked, politely refused and explained that I felt the same way as Dave! and Deskjockey.
Even though FIAT currency is overleveraged at least a banked backed currency has a chance due to the value of a countries GDP, exports, natural resources, etc. Crypto has none of that.
Re: Dogecoin etc
Posted: Thu Jun 24, 2021 12:32 pm
by Mito Man
I’ve just had a quick look at Hyperfund and it clearly looks like a scam. Once their funds hit a critical mass or they start to get found out in public they’ll pull the plug and all the money will disappear.
Mito Man wrote: ↑Thu Jun 24, 2021 12:32 pm
I’ve just had a quick look at Hyperfund and it clearly looks like a scam. Once their funds hit a critical mass or they start to get found out in public they’ll pull the plug and all the money will disappear.
My concern is not so much for the money as they only invested what they could stand to lose, it's what will the fallout be if you've earnt and pulled the money out off the back of people that you've introduced? What's the payback, a claim against your personal assets or even a prison sentence for being involved in a fraud?
Pete_ wrote: ↑Wed Jun 23, 2021 9:19 am
I bought another£100 of crypto yesterday including my first few Dogecoin
Why?! Buy shares, they're cheap currently and have intrinsic value. Lloyds should give you a 4.5% dividend this year and the share price is well under NAV.
You would have also lost 5 percent if you bought them at 50p I sold all mine. Their property buying strategy I'm unsure will be a winner.
Binance being banned in the UK is interesting as the powers that be try and reign in the fake money being generated. Crypto wallet update 43 pounds
Re: Dogecoin etc
Posted: Mon Jun 28, 2021 2:17 pm
by Jobbo
I bought my LLOY at 32p; if they're 40p or less they look good value against the net realisable value of the assets. Which I guess is why they're now at 47p. There has been plenty of time to get in and buy them below 40p though; they're not as volatile as crypto
Re: Dogecoin etc
Posted: Mon Jun 28, 2021 2:36 pm
by V8Granite
I’m £250 down today alone in shares, I’m thinking I should have spent it all on scratch cards and the dogs :
Dave!
Re: Dogecoin etc
Posted: Mon Jun 28, 2021 2:56 pm
by Broccers
Jobbo wrote: ↑Mon Jun 28, 2021 2:17 pm
I bought my LLOY at 32p; if they're 40p or less they look good value against the net realisable value of the assets. Which I guess is why they're now at 47p. There has been plenty of time to get in and buy them below 40p though; they're not as volatile as crypto
I have to be honest here - I had a shit ton of money in this one. Luckily sold in feb last year. Bought the dips too like 30, 33 and had an average of 37. I am out. They should be worth 2 quid and I feel for old skool lloyds people who got bummed with the halifax 2008 mess which makes me wonder why get involved in property?
Re: Dogecoin etc
Posted: Mon Jun 28, 2021 3:02 pm
by Mito Man
The Lloyd's chart isn't pretty, recovering now to pre-covid levels but it's been going south since 1998.
Re: Dogecoin etc
Posted: Mon Jun 28, 2021 3:03 pm
by Broccers
Mito Man wrote: ↑Mon Jun 28, 2021 3:02 pm
The Lloyd's chart isn't pretty, recovering now to pre-covid levels but it's been going south since 1998.
Never going to make you rich that share, I know
Re: Dogecoin etc
Posted: Tue Jun 29, 2021 8:14 am
by V8Granite
drcarlos wrote: ↑Thu Jun 24, 2021 11:47 am
I was chatting to a friend at the weekend who has invested in something called Hyperfund which looks to trade these low value coins.
He's already got back his original investment having pulled it out via a crypto exchange but what would concern me is that he has introduced others (some investing quite heavily) to the scheme, thereby earning him better rewards.
When I looked, it seemed like nothing more than a ponzi scheme and although he is earning I guess he could be in for a shock when it inevitably implodes.
I told another friend who he'd recruited that he should pull out his original investment ASAP and not recruit anyone into the scheme, anymore advice or am I on the wrong track?
I think it had a warning posted from the FCA in March.
I’ve looked at it all simplistically. Only invest in a coin with a use already set up or being set up. You look at some and they have a professional site, explain the history of the people working on it, have goals etc. If they don’t have that in a well put together site then don’t bother.
Dave!
Re: Dogecoin etc
Posted: Thu Jul 01, 2021 2:53 pm
by ShockDiamonds
I've exited all of my crypto interests. The hate, mixed with the incessant desire to only search for monetary again and exhibit absolutely no interest in the tech benefits at all, has utterly pissed me off, then put me off.
To say nothing of the fact that life these days is far too busy to spend time coding blockchains in the evening only for some wanker to then fork the bloody thing in the early hours; you then scrabble to get it fixed whilst 'the community' slag you off endlessly. What a moronic thing to do (a realisation that came to me far too late...)
Plus, the last that I launched (CommuterCoin) kinda ceased to be relevant when we all started staying at home
Re: Dogecoin etc
Posted: Fri Jul 02, 2021 5:14 pm
by Broccers
ShockDiamonds wrote: ↑Thu Jul 01, 2021 2:53 pm
I've exited all of my crypto interests. The hate, mixed with the incessant desire to only search for monetary again and exhibit absolutely no interest in the tech benefits at all, has utterly pissed me off, then put me off.
To say nothing of the fact that life these days is far too busy to spend time coding blockchains in the evening only for some wanker to then fork the bloody thing in the early hours; you then scrabble to get it fixed whilst 'the community' slag you off endlessly. What a moronic thing to do (a realisation that came to me far too late...)
Plus, the last that I launched (CommuterCoin) kinda ceased to be relevant when we all started staying at home
Did you not make a huuuuuuge amount of money? Sounds like any community if you look into it the more you get annoyed by nerds and generally people being utter wankers online. It's their daily fun and makes genuine people switch off.
Your idea might take off one day
Re: Dogecoin etc
Posted: Sat Jul 03, 2021 10:12 am
by ShockDiamonds
I earned a few BTC from a combination of earlier coins and trading ETH, yes. You kinda have to, otherwise it starts to feel like you’re putting in the hours only for somebody else to take all the benefit.
Re: Dogecoin etc
Posted: Tue Jul 27, 2021 9:28 am
by Broccers
This is quite a good watch from a couple of weeks ago and hes already up a lot
Re: Dogecoin etc
Posted: Fri Sep 03, 2021 9:47 am
by Broccers
The above dude seems to have doubled his money quite quickly. If only I had done the same
It does raise an interesting topic about actually being able to spend day to day. The new contactless limit of 100 quid surely makes buying things from your crypto wallet more of an option than before. Trouble being not many places accepting it, yet. Won't be long tho I guess.
Re: Dogecoin etc
Posted: Fri Sep 03, 2021 9:52 am
by Rich B
Broccers wrote: ↑Fri Sep 03, 2021 9:47 am
The above dude seems to have doubled his money quite quickly. If only I had done the same
It does raise an interesting topic about actually being able to spend day to day. The new contactless limit of 100 quid surely makes buying things from your crypto wallet more of an option than before. Trouble being not many places accepting it, yet. Won't be long tho I guess.
why would places want to take crypto and why would you want to use it for day to day stuff? Prices are still in sterling and crypto is still basically an investment rather than actual currency.
I sold all mine. Their property buying strategy I'm unsure will be a winner.
