OV9

BTC through $100k

Turns out that selling my BMW in 2022 and putting the proceeds into crypto was a good idea, roughly 2.5x my initial investment now. Far more than I ever made faffing around with Turo going to pull about 30% of it out now just to be safe as I will need far more cash than I ever considered for this house move.

Well, this will be part of the gain over the last couple of years.

Cash from street drug deals was hard to “disappear” during lockdown, enter a Russian cash-crypto laundering service.

https://www.bbc.co.uk/news/articles/c70ezyrep1go.amp

Wonder how big a pull back after this huge milestone?

If you notice BlackRock are one of the top wallets then you know it's not some con.

Not a con, also not a magic money tree, just a market with winners and losers. I understand bitcoin is already essentially controlled by large institutions, so big picture it'll be moulded into another method for the top 2% to extract money from the bottom 98%.

No reason not to make money out of it if you are able of course, happy to see everyone on here doing well.

It’s not a con, it’s a ponzi scheme.

Reckon it will do well over the next 4 years with Trump.

Broccers wrote: Thu Dec 05, 2024 8:33 am Wonder how big a pull back after this huge milestone?

That's the reason for pulling some out now, I expect it to pull back at some point in the short term, especially because this milestone will be big news and the old saying is "buy the rumour, sell the news"

Yeah a lot of people have auto sells at significant figures. So suddenly it tips over say 90k and the next day takes a dip as a few hundred thousand sold $10,000 while they were asleep.

It’s a surprise how many people who have been doing it for quite a long time. 1 retirement on it and 1 does it as a business so still worthwhile if you are able to read around the hype.

Dave!

Broccers wrote: Thu Dec 05, 2024 8:33 am Wonder how big a pull back after this huge milestone?

If you notice BlackRock are one of the top wallets then you know it's not some con.

If you notice Lehman Brothers are one of the top sub-prime mortgage lenders, then you know it's not some con.

https://en.wikipedia.org/wiki/Bankruptc ... n_Brothers

Imagine thinking that citing a big financial firm being involved in something risky - and thinking that makes it more legit and not a con.

An investment firm? Gambling with other people’s money?

It’s more likely than you think

Isn’t that kind of their job ?

Dave!

Well quite. Blackrock hold investments in probably every single thing you can think of, and then some. Doesn't mean all of them are good.

Blackrock aren't holding bitcoin because they think it's a good investment. They're holding it in a bitcoin ETF because there are customers who think it's a good investment and want an easier way to access it without faffing about with wallets and stuff. Blackrock make money regardless of whether it goes up or down. They're not offering financial advice here.

Yes and I would especially not use them as an example to get people into crypto.

Anyone who’s invested heavily in crypto needs new blood to make any money.

Crypto is ridiculous when it's a bear market and everything is going in your favour. I had to move a few things around to get the ETH and BTC into GBP, which involved putting it into LiteCoin first. After converting to LTC I had to go out to a meeting. I just got back and LTC has gone up from 102.5 to 112.5 over lunch, so I just made an extra £500 simply by waiting for 3 hours

What platforms are good for this kind of thing? Anybody use eToro?

Any of the big ones like Coinbase, eToro, Kraken, Binance etc are fine. I think Coinbase used to have the highest fees though.

FWIW, now is a really bad time to buy eth/btc etc. We've had a lot of increases over the last six weeks. If you want to start playing around then definitely wait until there's a big crash. There'll probably be one in the next month or two, where 20%+ of the BTC price gets wiped out.

Coinbase standard is expensive, Advanced Trade is not. Pays to do some reading on how to pay less commission as some are cheaper.

As said previously the best way to invest is small amounts regularly and over time you'll not be stung.

I use my Revolut account for the piddling amounts I have of it.

lol the Hawk Tuah girl set up a meme coin and rug pulled it.