Is anyone else starting to become a bit excited?

Rob2D

Phew, finally got my portfolio laid out for alt season. 16 coins.............I may have spread myself too thin. But f**k it shur a couple of them will surely do something! :pac:

Dohnjoe

Cushtie wrote: »

Ah lads. It makes no sense to a normal Joe like me.

I stuck about 70 euro into ETH on revolut about 6 weeks ago just to dip my toe in whilst I try to educate my self on it.


Anyway that 70 is at 120 this evening. Bonkers really if you scale that up to what some people must have bought in at.

It hit sub 100 euros last March. That's 25x in a year, and those types of gains aren't unusual in crypto. Also, it hasn't done anything in that time-frame to be "worth" 25x more, it's just part and parcel of the overall speculation frenzy

Ir's dangerous really, some people will get burned who just "dipped their toes" got excited, and fired the kitchen sink into it

Dohnjoe

Indeed, the entire market can drop 40% in a matter of hours. And we're only ever just a few consecutive "corrections" away from a bear market. Sentiment changes fast.

iba

People,

Posted this a few days ago but didnt get any replies - maybe somebody who has done it missed it:

I want to stake Egld on Maiar and I have transferred a few Egld there.

When I go to the staking option, Im presented with about ten different options (don't know the technical word).

How do you choose which one to go with? Anyone done this please?

Thanks

patnor1011

Dohnjoe wrote: »

It hit sub 100 euros last March. That's 25x in a year, and those types of gains aren't unusual in crypto. Also, it hasn't done anything in that time-frame to be "worth" 25x more, it's just part and parcel of the overall speculation frenzy

Not entirely correct. A lot of people or companies do use ethereum blockchain for their own products or smart contracts so "hasn't done anything" is not how one can describe it. It is a project which is used by many other entities to make their own product which "may have done something".
Speculation frenzy is partly due to usability of it not all is about price of the coin. The more it will be used (ethereum smart contracts) the more it will be in demand.

HGVRHKYY

Dohnjoe wrote: »

It hit sub 100 euros last March. That's 25x in a year, and those types of gains aren't unusual in crypto. Also, it hasn't done anything in that time-frame to be "worth" 25x more, it's just part and parcel of the overall speculation frenzy

DeFi, NFTs, being the largest platform that has many other cryptos built on top of it. Yeah, hasn't done anything really. With the updates and actual progress towards 2.0 as well, it's almost as if people believe it's going to have even more utility when that rolls around due to larger capacity

patnor1011

Cushtie wrote: »

Ah lads. It makes no sense to a normal Joe like me.

I stuck about 70 euro into ETH on revolut about 6 weeks ago just to dip my toe in whilst I try to educate my self on it.


Anyway that 70 is at 120 this evening. Bonkers really if you scale that up to what some people must have bought in at.

While convenient to use revolut do have murderous fees. Also it is just speculation as you do not own coins. I wonder what they do if more people buy low and hodl there as they may have problem to cover positions since there are no real coins involved.
Binance does have 0.1% fees and they go even lower if you pay them with binance coin. Compare that to revolut 1.5% or more over the weekend or holidays and you will see that it is a no brainer if you plan to try with little more money.

patnor1011

HGVRHKYY wrote: »

DeFi, NFTs, being the largest platform that has many other cryptos built on top of it. Yeah, hasn't done anything really. With the updates and actual progress towards 2.0 as well, it's almost as if people believe it's going to have even more utility when that rolls around due to larger capacity

It is not only about how many other crypto's are built on it. It is also about use. Take binance coin - use it and pay less fees when trading. That is what push price up but this particular one is way too high in my opinion but that may be due to volume of trading done there. Who knows.

Since I first hear about bitcoin well over 10 years ago there is constant talk how it can not go here or there or how tulip-dotcom-bubble it is. While it may go bust eventually what a ride it was so far. Over 10 years and still gaining speed despite all predictions and prophecies.

Thargor

Looks like another night of lost sleep watching ETH attempt to break 3k...

Thargor

Thargor wrote: »

Looks like another night of lost sleep watching ETH attempt to break 3k...

It's edging closer

Thargor

Badly fukt wrote: »

It's edging closer

Its obviously inevitable the question is does some whale and/or a load of minnows dump at that point.

I really, really should sell right now tbh, I could be bidding on a house this week.

Thargor

Thargor wrote: »

Its obviously inevitable the question is does some whale and/or a load of minnows dump at that point.

I really, really should sell right now tbh, I could be bidding on a house this week.

There's a guaranteed correction but it will power on again after

Dohnjoe

HGVRHKYY wrote: »

DeFi, NFTs, being the largest platform that has many other cryptos built on top of it. Yeah, hasn't done anything really. With the updates and actual progress towards 2.0 as well, it's almost as if people believe it's going to have even more utility when that rolls around due to larger capacity

Indeed NFT's and DeFi are pretty cool, but up 2500% in a year? down 40% in a day? nothing rational about that. What has Dogecoin done to be worth 150x more in the last year? nothing. A fork of a fork of BTC is worth more than multi-national companies. The market is mental. Artificial scarcity, hype and FOMO drives far more value than any underlying fundamental value these things have. And that's fine by me, I like the rollercoaster, great for gains and all that, just pointing out the obvious here.

One More Toy

Eth to 3k tonight?!

One More Toy

One More Toy wrote: »

Eth to 3k tonight?!

Should've been last night, it's bouncing off it, going sideways

Irish_rat

Raelynn Scruffy Pushcart wrote: »

Ir's dangerous really, some people will get burned who just "dipped their toes" got excited, and fired the kitchen sink into it

And some will be multimillionaires. Some of the price action we are seeing could be blips on a radar a year or two from now.

Rob2D

Rob2D wrote: »

Phew, finally got my portfolio laid out for alt season. 16 coins.............I may have spread myself too thin. But f**k it shur a couple of them will surely do something! :pac:

Care to share the 16?

FFVII

Cushtie wrote: »

Ah lads. It makes no sense to a normal Joe like me.

I stuck about 70 euro into ETH on revolut about 6 weeks ago just to dip my toe in whilst I try to educate my self on it.


Anyway that 70 is at 120 this evening. Bonkers really if you scale that up to what some people must have bought in at.

aint apple up 100% in the year?

Easy to make money at the moment.

One More Toy

Eth 3k

Lorne Malvo

One More Toy wrote: »

Eth 3k

anyone going all in on eth? its not looking like stopping anytime soon...

Unearthly

Haha Ethereum eases the pain of a Monday morning

And yes I'm working on a bank holiday

Wetbench4

Hi all, very new to this game. Is it good practice to convert a crypto coin to euro, at the start of a dip, hold the euro and then buy back on the way back up, or do most of ye just hodl through the dips?

Wetbench4

Wetbench4 wrote: »

Hi all, very new to this game. Is it good practice to convert a crypto coin to euro, at the start of a dip, hold the euro and then buy back on the way back up, or do most of ye just hodl through the dips?

Yes, that's how trading works, sell when it starts to dip and buy back in cheaper, but not to fiat, to stablecoin like USDC and USDT. I hold through the dips add I'm in for the long term and have mine staked.

Thargor

$4k coming into play for ETH now :P

Unearthly

Lorne Malvo wrote: »

anyone going all in on eth? its not looking like stopping anytime soon...

Statistically if you go in on a coin during a pump you will lose money (unless you don't mind holding for long term), that's not to say Ethereum is at its top, but you're making a high risk move.

Ethereum was about half the price in March when people were beginning to write it off and calling it a stable coin, that's when you should buy

cnocbui

Wetbench4 wrote: »

Hi all, very new to this game. Is it good practice to convert a crypto coin to euro, at the start of a dip, hold the euro and then buy back on the way back up, or do most of ye just hodl through the dips?

The dip has to be considerable, given the 33% CGT you have to pay on the profit reducing how much you have to buy back in with, to make that worth while. Picking the peaks and troughs is not something any one can do unlesss they are a whale causing them.

CGT makes that sort of trading a near sure lose mugs game. If you believe in it hoddle.

Connavar

Wetbench4 wrote: »

Hi all, very new to this game. Is it good practice to convert a crypto coin to euro, at the start of a dip, hold the euro and then buy back on the way back up, or do most of ye just hodl through the dips?

Just remember that selling for euro is a CGT event so if you are in with a decent chunk of money selling and buying again may not be worth it

cnocbui

Connavar wrote: »

Just remember that selling for euro is a CGT event so if you are in with a decent chunk of money selling and buying again may not be worth it

Selling, period, is a CGT event - it's not limited to Euros or fiat. Swapping one coin for another is a CGT event.

bfa1509

Very "annoyed" to see Eth price this morning. When I saw the big red wall of sell orders at 3k last night I thought: "Might sell one now @2990 and buy two more when it pulls back overnight"

My smart-assedness was punished. Still don't understand what happened the wall of sell orders at 3k? Would like if someone could enlighten me.

Unearthly

bfa1509 wrote: »

Very "annoyed" to see Eth price this morning. When I saw the big red wall of sell orders at 3k last night I thought: "Might sell one now @2990 and buy two more when it pulls back overnight"

My smart-assedness was punished. Still don't understand what happened the wall of sell orders at 3k? Would like if someone could enlighten me.

Sell walls can be gone in 2 ways.

The buy pressure is too much and they just get eaten.

Whales use it as a psychological scare to get people to sell as they think it can't be stopped. Once a tiny fraction of the wall is eaten, the whales realise the volume is too high and remove them and place them back at a higher price

Connavar

cnocbui wrote: »

Selling, period, is a CGT event - it's not limited to Euros or fiat. Swapping one coin for another is a CGT event.

Yep was just going on the example given

One More Toy

Connavar wrote: »

Yep was just going on the example given

Is receiving a loan based on collateral A CGT event?

djan

One More Toy wrote: »

Is receiving a loan based on collateral A CGT event?

No. AFAIK it would be the same as taking out loan and using house/land/business as collateral. Efficient way to "release" funds without triggering CGT. Rates tend to be a bit higher than traditional banks and collateral usually needs to be double the loan amount.

FFVII

https://www.altfi.com/article/7851_breaking-revolut-announces-bitcoin-withdrawals-in-hastily-deleted-blog-post

Revolut to allow bitcoin withdrawals

BrandonBay86

FFVII wrote: »

https://www.altfi.com/article/7851_breaking-revolut-announces-bitcoin-withdrawals-in-hastily-deleted-blog-post

Revolut to allow bitcoin withdrawals

That’s huge.

HGVRHKYY

bfa1509 wrote: »

Very "annoyed" to see Eth price this morning. When I saw the big red wall of sell orders at 3k last night I thought: "Might sell one now @2990 and buy two more when it pulls back overnight"

My smart-assedness was punished. Still don't understand what happened the wall of sell orders at 3k? Would like if someone could enlighten me.

Probably eaten up bit by bit, or people removed their orders. I was awake really late last night watching it, it was agonisingly slow going from $2,980 to actually breaking through $3,000

HGVRHKYY

djan wrote: »

No. AFAIK it would be the same as taking out loan and using house/land/business as collateral. Efficient way to "release" funds without triggering CGT. Rates tend to be a bit higher than traditional banks and collateral usually needs to be double the loan amount.

That's what I found when I was looking at them recently, but still think it's amazing to have services available that allow you to do this with your crypto these days and they'll only get better and more competitive as time goes on. And the more crypto increases in value, the less crypto we'll actually need to put up for the loans

HGVRHKYY

FFVII wrote: »

https://www.altfi.com/article/7851_breaking-revolut-announces-bitcoin-withdrawals-in-hastily-deleted-blog-post

Revolut to allow bitcoin withdrawals

Only for their paying premium members though of course, so you need to pay to be able to actually fully take ownership of what you've already bought. Scumbags, they're only a small step up from Robinhood

bfa1509

bfa1509 wrote: »

Very "annoyed" to see Eth price this morning. When I saw the big red wall of sell orders at 3k last night I thought: "Might sell one now @2990 and buy two more when it pulls back overnight"

My smart-assedness was punished. Still don't understand what happened the wall of sell orders at 3k? Would like if someone could enlighten me.

Where do you see this

dougal0691

[Deleted User] wrote: »

Where do you see this

the order book on binance or coinbase.

Dohnjoe

Has to be getting some sort of correction on Eth, getting vertical now

OEP

HGVRHKYY wrote: »

Only for their paying premium members though of course, so you need to pay to be able to actually fully take ownership of what you've already bought. Scumbags, they're only a small step up from Robinhood

Scumbags for wanting you to pay for their product?

Have to say I love revolut its so handy. Not the best for crypto or stocks, but hardly a hanging offense for all the great stuff get with it for free

BrandonBay86

Dohnjoe wrote: »

Has to be getting some sort of correction on Eth, getting vertical now

People were saying that when bitcoin broke its 20k ath too.

Raelynn Scruffy Pushcart

Raelynn Scruffy Pushcart wrote: »

Have to say I love revolut its so handy. Not the best for crypto or stocks, but hardly a hanging offense for all the great stuff get with it for free

I completely stopped using Revolut when I got my crypto.com visa

One More Toy

My eth holding just flipped my btc holding, you love to see it

weemcd

Frothy start to May. Hold ETH and buy alts!

This month should be fun...

One More Toy

[Deleted User] wrote: »

I completely stopped using Revolut when I got my crypto.com visa

Am I right you have to stake a huge amount of CRO to get the best benefits?

Father Hernandez

What alts are people thinking for May?