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      Cryptocurrencies

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      RC9
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      • Formerly known as Vtorres, Vsuarez, and Vsterling.
      Cryptocurrencies
      Mar 10, 2019 09:12:38 pm
      So i am sure some people on here have heard of the Bitcoin craze we saw in 2017/2018 as a prominent alternative to investing in stocks etc.

      The space right now is quite unpredictable and as it hasn't been regulated as such the risk to reward ratio is quite volatile, i personally am still involved, making investments here and there in the cryptospace with different currncies e.g Ethereum, Ripple, Ox.

      I was just wondering if anyone on here has invested in any of the cryptocurrencies out there or have any interest in the space at all, be nice to speak to fellow reds about it.

      LMW
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      Re: Cryptocurrencies
      Reply #1: Mar 10, 2019 09:35:48 pm
      I invested around £1000 in XRP/Ripple early in 2017 when it was hovering at around 20 pence a share as I bought into the concept and it has real-life use cases and solutions to banking problems. I sold my shares in November 2017 as it wasn’t really gaining any traction and had lost hope. That was a very silly move as it then shot up to £3 a share in Jan 2018. I would’ve made quite the profit if I stayed in there which just shows how volatile it really is! Quite easy to lose a lot of money investing in the crypto world! I haven’t invested since then as I have been licking my wound since :lmao: It does look like a good time to invest as they’re very cheap at the moment including BTC.
      RC9
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      Re: Cryptocurrencies
      Reply #2: Mar 10, 2019 09:42:09 pm
      I invested around £1000 in XRP/Ripple early in 2017 when it was hovering at around 20 pence a share as I bought into the concept and it has real-life use cases and solutions to banking problems. I sold my shares in November 2017 as it wasn’t really gaining any traction and had lost hope. That was a very silly move as it then shot up to £3 a share in Jan 2018. I would’ve made quite the profit if I stayed in there which just shows how volatile it really is! Quite easy to lose a lot of money investing in the crypto world! I haven’t invested since then as I have been licking my wound since :lmao: It does look like a good time to invest as they’re very cheap at the moment including BTC.

      Ouch, I have friends at work who could have made around 60k if they cashed out at the top but no one did now there is a group of us who are holding on haha. Luckily my losses are nothing like my friends, but yeah right now is a good time to look into the space IMO. Obviously, not advising any particular investments in this thread just be nice to have a discussion about it all.

      So did you invest in Ripple only? Me personally i have a couple of different currencies, after BTC dropped down from 8-10k I didn't invest again until last month, I feel like we may have hit the bottom again.
      LMW
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      Re: Cryptocurrencies
      Reply #3: Mar 10, 2019 09:53:11 pm
      Ouch, I have friends at work who could have made around 60k if they cashed out at the top but no one did now there is a group of us who are holding on haha. Luckily my losses are nothing like my friends, but yeah right now is a good time to look into the space IMO. Obviously, not advising any particular investments in this thread just be nice to have a discussion about it all.

      So did you invest in Ripple only? Me personally i have a couple of different currencies, after BTC dropped down from 8-10k I didn't invest again until last month, I feel like we may have hit the bottom again.

      Wow. Fair play, I never had the guts to invest big money in crypto haha. I found the most difficult part is knowing when to take your profits, it’s easier with your normal stocks (for example FTSE 100) as they all follow typical trends and patterns but the crypto jumps so fast you can’t judge it!

      Yeah I only invested in Ripple although some of my friends have more of a diverse crypto portfolio. What platform are you using? I was using etoro at the time. I may get involved again at some point although I’ve seen news surrounding regulations and laws in Asia (and possibly other places) that have had a big hit on the stock price. Is that still the case?
      RC9
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      Re: Cryptocurrencies
      Reply #4: Mar 10, 2019 10:02:08 pm
      Wow. Fair play, I never had the guts to invest big money in crypto haha. I found the most difficult part is knowing when to take your profits, it’s easier with your normal stocks (for example FTSE 100) as they all follow typical trends and patterns but the crypto jumps so fast you can’t judge it!

      Yeah I only invested in Ripple although some of my friends have more of a diverse crypto portfolio. What platform are you using? I was using etoro at the time. I may get involved again at some point although I’ve seen news surrounding regulations and laws in Asia (and possibly other places) that have had a big hit on the stock price. Is that still the case?

      Yeah that is fair enough and like I said I don't want to tell anyone to invest or not invest, at the end of the day everyone needs to do their own research and see what is best for them.

      I use a combination of platforms, Binance being the main one but also use coinbase and Kucoin.

      There is always positive news around crypto, the difference now is in the past any slight possibility of positive news would lead into a massive spike, but with us being in a bear market for so long, positive news doesn't have the same influence as it did before on the market. I think the big game changer will be if the SEC approve the Winklevoss brothers attempt to start an exchange/trading platform of their own, if the SEC give cryptocurrnecy the green flag in that sense, big institutions will start to follow suit.

      JPMorgan a year ago called crypto a bubble that is going to burst, couple weeks ago they announced they are starting their own currency to rival bitcoin.

      I think in time it will become regulated and get a lot more money behind it, right now people are worried about how unstable it is but when the bigger institutions start to get involved and it becomes regulated it will take off again.

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