Bitcoin and all that

[That thing you do]

More selling by me

 

Imgnai

 

Put in £1200 

Got back £16,750

 

Happy days. More smiling at Tollcross Branch 

[Ray Gin]

9 minutes ago, That thing you do said:

More selling by me

 

Imgnai

 

Put in £1200 

Got back £16,750

 

Happy days. More smiling at Tollcross Branch 

 

You sold it before it dropped from 5.5p to 0.8p then?

[Homme]

5 hours ago, IronJambo said:

What do you mean it doesn't have a price as it hasn't been listed? Where do you think it has to be listed to have a value?

 

Your Picoin is currently valued at $0.007 according to coinmarketcap. You'll find slight variances depending on the pairing. I'd assume you can swap it on the likes of uniswap or pancake swap or something or other. It certainly has a price.

 

It isn't listed on any reputable exchange. 

 

So any value assigned to it is nonsense.

Edited March 12, 2023 by Homme

[Unknown user]

14 minutes ago, Ray Gin said:

 

You sold it before it dropped from 5.5p to 0.8p then?

Must have been a couple of months ago

[That thing you do]

16 minutes ago, Ray Gin said:

 

You sold it before it dropped from 5.5p to 0.8p then?

I bought it very early doors for 0.0005p just after launch as a lottery ticket

 

I did the same with Saddle Finance (which I still have)

 

 

Edited March 12, 2023 by That thing you do

[Unknown user]

On 11/03/2023 at 09:34, BlueRiver said:

 

Aye think Homme has clarified possibly! 

 

I just assumed there was no danger it could be showing 1 = 42 anywhere because that's wildly out of frame for shitcoins. 

There's a note on it's coinmarketcap page.

 

In other words, it's blockchain doesn't actually exist yet, except in testing (they go from testnet to mainnet.)

 

There's no way of saying what value it'll have until it exists and trades.

 

[That thing you do]

Im sure I posted around that time, maybe not.

 

I do that with new coins I think coulf move 500 1000 1500 a time.

 

If youre wrong, youre wrong small, but if youre right, youre right big.

 

Even 1 / 20 right is quids in.

 

Im around 1 in 5 pumps overall.

 

Meanwhile I still have 100k ENJ ive held since 2017 after my sales

Edited March 12, 2023 by That thing you do

[BlueRiver]

2 minutes ago, Smithee said:

There's a note on it's coinmarketcap page.

 

In other words, it's blockchain doesn't actually exist yet, except in testing (they go from testnet to mainnet.)

 

There's no way of saying what value it'll have until it exists and trades.

 

 

I was looking at the entirely wrong coin it seems. I looked at one called Pi Coin. 

[That thing you do]

This is my strategy in full. The idea came from applying ideas from the movie, Big Short.

 

In the movie, Brownhill Capital bet on things people don't expect to happen - this is Jamie and Charlie in the movie.

So I applied the logic of that to investing.

 

My crypto is in 3 bags:

 

- Long Term Hold

- Short Term hold for Profit

- Lottery Tickets.

 

Long Term Holds

These are my coins that I believe in and have held a long time. Some of them Ive met the team involved. This is my Hodl bag.

It includes ETH,  DOT, ENJ, MANA, EFI

 

Short Term Holds

These are coins that are over 90% down from the all time high but I believe will get back there and more.

This includes BTC and GALA and SAND. Ive not invested alot per coin 2k to 4k usually. ie its house money Ive already made

 

Lottery Tickets

These are new coins, usually found on last page of new coins on  Coin Gecko. These are coins I pick that match the market trends and hot themes. I check their website and their communities to get a sense of them and then I invest anywhere from $200 to $2000 into them in the hope that they take off . Never have more than 4 or 5 lottery tickets at any one time and I find it through a % of sales to stables being assigned to it. Lottery tickets are fundied through selling % of short term investments, its also all house money Ive made thats going in.

 

IMGNAI was there as AI is a hot topic, SDL is there as I liked their approach to Defi and WILD is in there as a new metaverse that looks good!

 

You do los more than you win on the lottery side but if you get an IMGNAI that goes fractions of a cent to 5 c plus, you can 40x plus your money if you time it right, I usually dont.

 

Ive recently sold 303,000 ENJ, 1.02m IMGNAI and some GALA to send to the bank. Im still in the game and I will leave the amount I need to pay tax in the bank if I do jump back in, plus 25k Ive put in a 2 year bond just to ensure I dont degen all of it back in!

 

Im not saying this to brag, I dont brag. Just to outline how I work it.

 

Edited March 12, 2023 by That thing you do

[Sooperstar]

I don't brag 😂😂😂😂

[Arse 'Friends' Dyslexic?]

14 minutes ago, Sooperstar said:

I don't brag 😂😂😂😂

[IronJambo]

4 hours ago, Homme said:

 

It isn't listed on any reputable exchange. 

 

So any value assigned to it is nonsense.

But people buy it? And there's liquidity?

If people buy it and sell it then it has a price. That price is just as "nonsense" as it would be on a CEX. 

 

Huge red flag if even the devs are saying the price is nonsense. They don't even have a market cap? I'd take my $40 and run if it was mine. 

[IronJambo]

17 minutes ago, IronJambo said:

But people buy it? And there's liquidity?

If people buy it and sell it then it has a price. That price is just as "nonsense" as it would be on a CEX. 

 

Huge red flag if even the devs are saying the price is nonsense. They don't even have a market cap? I'd take my $40 and run if it was mine. 

OK I found it. I'm confused. Why do people mine something that's free/worthless? 

 

Do you think they'll ever manage to get the Blockchain running? 

[Unknown user]

31 minutes ago, IronJambo said:

But people buy it? And there's liquidity?

If people buy it and sell it then it has a price. That price is just as "nonsense" as it would be on a CEX. 

 

Huge red flag if even the devs are saying the price is nonsense. They don't even have a market cap? I'd take my $40 and run if it was mine. 

 

People don't buy it yet, there are only IOUs as the Blockchain isn't up.

 

It isn't Picoin by the way, it's Pi, a different coin, see the screenshot I posted above.

[IronJambo]

1 minute ago, Smithee said:

 

People don't buy it yet, there are only IOUs as the Blockchain isn't up.

 

It isn't Picoin by the way, it's Pi, a different coin, see the screenshot I posted above.

Yeah I found it as per my other post. Mine it by referral.

 

It still doesn't make any sense to me. I couldn't see any real details on the token (not a coin yet). No maximum supply stated, only that up to 100 million people will be allowed to mine a pre-determined amount. Deflationary/inflationary/neither? 

 

No hint on what the Blockchains primary function will be. 

[Unknown user]

2 minutes ago, IronJambo said:

Yeah I found it as per my other post. Mine it by referral.

 

It still doesn't make any sense to me. I couldn't see any real details on the token (not a coin yet). No maximum supply stated, only that up to 100 million people will be allowed to mine a pre-determined amount. Deflationary/inflationary/neither? 

 

No hint on what the Blockchains primary function will be. 

👍 

 

Shitcoins gonna shitcoin

[Unknown user]

Will we see a crypto crash? I think banks are going to start closing crypto companies' accounts to put some distance between them, the last week hasn't been a good look.

[IronJambo]

16 hours ago, Smithee said:

Will we see a crypto crash? I think banks are going to start closing crypto companies' accounts to put some distance between them, the last week hasn't been a good look.

Doubt it. Probably the opposite. People have been moving their money to crypto from banks. It's seen as safer in bitcoin as il whilst it may fluctuate it won't disappear.

[That thing you do]

On 12/03/2023 at 09:09, Sooperstar said:

I don't brag 😂😂😂😂

I dont. Its advice and a plan. Use it or dont use it. 

 

 

 

 

 

 

[hughesie27]

18 hours ago, Smithee said:

Will we see a crypto crash? I think banks are going to start closing crypto companies' accounts to put some distance between them, the last week hasn't been a good look.

Presumably when Crypto goes bad the banks profit? Its only when Crypto skyrockets that the banks are at risk, no?

[Unknown user]

17 minutes ago, hughesie27 said:

Presumably when Crypto goes bad the banks profit? Its only when Crypto skyrockets that the banks are at risk, no?

 

I'm getting this from something I was reading about the US treasury sending out the message that they don't like banks holding crypto companies' fiat funds, and pressuring them to ditch the business.

It might end up coming to nothing, but I can't help feeling they'd **** crypto over in a second if they thought it would help banking and the dollar.

[That thing you do]

3 hours ago, Smithee said:

 

I'm getting this from something I was reading about the US treasury sending out the message that they don't like banks holding crypto companies' fiat funds, and pressuring them to ditch the business.

It might end up coming to nothing, but I can't help feeling they'd **** crypto over in a second if they thought it would help banking and the dollar.

Correct.

 

However, I think a fair whack of cash is coming into crypto now as a "safe" haven. Why? 

 

In the most extreme cases, a bank run sends liquidity issues through the financial system and completely ruins people who cant get the funds out of the bank.

 

Crypto is the "safest" haven from that - Bitcoin on your own Ledger is in custody of you and its more practical than Gold is, in bar form anyway.

 

This might just be Crypto doing what it was intended for.

 

You dont need to get your crypto out to a bank just now, you just need to hybernate it. At some point, someone will process crypto as its money for someone.

[Unknown user]

16 minutes ago, That thing you do said:

Correct.

 

However, I think a fair whack of cash is coming into crypto now as a "safe" haven. Why? 

 

In the most extreme cases, a bank run sends liquidity issues through the financial system and completely ruins people who cant get the funds out of the bank.

 

Crypto is the "safest" haven from that - Bitcoin on your own Ledger is in custody of you and its more practical than Gold is, in bar form anyway.

 

This might just be Crypto doing what it was intended for.

 

You dont need to get your crypto out to a bank just now, you just need to hybernate it. At some point, someone will process crypto as its money for someone.

 

That's all fine, but the crypto companies need fiat to operate, to pay wages, rent, taxes, etc. If banks start to close their accounts, these companies can't go on.

 

 

[That thing you do]

1 hour ago, Smithee said:

 

That's all fine, but the crypto companies need fiat to operate, to pay wages, rent, taxes, etc. If banks start to close their accounts, these companies can't go on.

 

 

They will get it. Its in someones interest to get the fees.

 

But you dont need fiat. Wait for a CBDC like uk are planning (code name: Britcoin, how creative)

 

Convert to CBDC on an exchange and voila.

 

Its also common to pay salary and services in crypto to between businesses in the space as well.

 

 

 

 

Edited March 14, 2023 by That thing you do

[Unknown user]

3 minutes ago, That thing you do said:

They will get it. Its in someones interest to get the fees.

 

But you dont need fiat. Wait for a CBDC like uk are planning (code name: Britcoin, how creative)

 

Convert to CBDC on an exchange and voila.

 

Its also common to pay salary and services in crypto to between businesses in the space as well.

 

We've literally just seen Signature bank fall after the crypto companies rushed to get their money out.

They seem to think they need fiat.

[That thing you do]

2 hours ago, Smithee said:

 

We've literally just seen Signature bank fall after the crypto companies rushed to get their money out.

They seem to think they need fiat.

Some do, some dont. 

[That thing you do]

Trading Update

 

Sold 100,000 IMGNAi at 1.9c and bought 1.08m SIMPSAI via Uniswap.

 

[Unknown user]

15 hours ago, That thing you do said:

Some do, some dont. 

 

We'll see where things go.

 

I'd be very surprised if official crypto currencies were to be in any way compatible with the current, unregulated, crypto market.

 

Governments want to take out existing crypto, not mesh with it.

[BlueRiver]

32 minutes ago, Smithee said:

 

We'll see where things go.

 

I'd be very surprised if official crypto currencies were to be in any way compatible with the current, unregulated, crypto market.

 

Governments want to take out existing crypto, not mesh with it.

 

Agreed. It would defeat the purpose of their crypto legislating lately to just allow folk to swap out their crypto on an unregulated market for nice clean CBDCs. 

[Unknown user]

Just now, BlueRiver said:

 

Agreed. It would defeat the purpose of their crypto legislating lately to just allow folk to swap out their crypto on an unregulated market for nice clean CBDCs. 

 

Yep. They're not joining in, they're taking over.

[escobri]

On 15/03/2023 at 16:10, That thing you do said:

Trading Update

 

Sold 100,000 IMGNAi at 1.9c and bought 1.08m SIMPSAI via Uniswap.

 

Have you ever looked at COTI?Seen it come up a few times and trying to see if it has potential.

[IronJambo]

On 15/03/2023 at 17:16, BlueRiver said:

 

Agreed. It would defeat the purpose of their crypto legislating lately to just allow folk to swap out their crypto on an unregulated market for nice clean CBDCs. 

There's an African country that's having it's CBDC built by a current crypto. It will be entwined in that crypto's ecosystem. They won't be alone.

[BlueRiver]

33 minutes ago, IronJambo said:

There's an African country that's having it's CBDC built by a current crypto. It will be entwined in that crypto's ecosystem. They won't be alone.

 

Sounds like a good way to create an untrustworthy currency. Who is it and which ecosystem? Do you recall? 

[IronJambo]

1 hour ago, BlueRiver said:

 

Sounds like a good way to create an untrustworthy currency. Who is it and which ecosystem? Do you recall? 

Why does that make it untrustworthy?

 

It'll sit on a new blockchain, probably next to a related stablecoin. The current token will be used as "gas" fee's. 

[BlueRiver]

On 22/03/2023 at 18:39, IronJambo said:

Why does that make it untrustworthy?

 

It'll sit on a new blockchain, probably next to a related stablecoin. The current token will be used as "gas" fee's. 

 

Missed this sorry. I was meaning more along the lines of exchanging potentially criminal proceeds etc for a clean CBDC on a DEX. So swapping your 1400000 Doge for a national currency with no checks in place to ensure that money is legitimate would have implications for the trust placed in that currency. 

 

I'm aware this does of course happen with currencies as they are but building it in to your national currency wouldn't be a good look. 

 

 

 

[Greedy Jambo]

Thoughts on the new chips dipped into mayo coin?

Just came out today, might not be around for long. 

 

[IronJambo]

13 hours ago, BlueRiver said:

 

Missed this sorry. I was meaning more along the lines of exchanging potentially criminal proceeds etc for a clean CBDC on a DEX. So swapping your 1400000 Doge for a national currency with no checks in place to ensure that money is legitimate would have implications for the trust placed in that currency. 

 

I'm aware this does of course happen with currencies as they are but building it in to your national currency wouldn't be a good look. 

 

 

 

I'm not sure why it would have any more risk than any other CBDC?

[BlueRiver]

11 minutes ago, IronJambo said:

I'm not sure why it would have any more risk than any other CBDC?

 

I'm working on the assumption they wouldn't be as readily tradeable on DEXs but perhaps I'm wrong. 

[IronJambo]

8 hours ago, BlueRiver said:

 

I'm working on the assumption they wouldn't be as readily tradeable on DEXs but perhaps I'm wrong. 

I'm not sure why the assumption would be made that the African CBDC I'm talking about would be readily tradable on a DEX whilst there's an assumption others wouldn't be. The mention of the use of gas fee's doesn't necessarily mean that people will be able to swap shitcoins for it. 

[BlueRiver]

14 hours ago, IronJambo said:

I'm not sure why the assumption would be made that the African CBDC I'm talking about would be readily tradable on a DEX whilst there's an assumption others wouldn't be. The mention of the use of gas fee's doesn't necessarily mean that people will be able to swap shitcoins for it. 

 

Because the conversation I was initially involved in seemed to suggest swapping any old crypto on an exchange for a CBDC which is why I made the point that allowing that would fly in the face of current legislating to prevent crypto being used so easily for dirty money. 

 

When you mentioned the African CBDC I assumed you were backing up the easy trade in that manner. 

 

 

[IronJambo]

41 minutes ago, BlueRiver said:

 

Because the conversation I was initially involved in seemed to suggest swapping any old crypto on an exchange for a CBDC which is why I made the point that allowing that would fly in the face of current legislating to prevent crypto being used so easily for dirty money. 

 

When you mentioned the African CBDC I assumed you were backing up the easy trade in that manner. 

 

 

That's quite a lot of assumptions.

 

I only mentioned it because it was suggested that governments wouldn't want their CBDC's anywhere near current crypto but there we have the exact opposite of that suggestion currently in motion.

 

I would really question the use case of CBDC's in developed nations though,  if they aren't needed as a payment system and they're built in a completely closed system. Unless you can swap Bitcoin/Ethereum/other into your CBDC and then use it as fiat direct from your wallet I'm not sure I see the point in it? Turning £200 into 200 "Britcoin" that's worth the same sounds like having crypto for the sake of having crypto.  

[BlueRiver]

8 minutes ago, IronJambo said:

That's quite a lot of assumptions.

 

I only mentioned it because it was suggested that governments wouldn't want their CBDC's anywhere near current crypto but there we have the exact opposite of that suggestion currently in motion.

 

I would really question the use case of CBDC's in developed nations though,  if they aren't needed as a payment system and they're built in a completely closed system. Unless you can swap Bitcoin/Ethereum/other into your CBDC and then use it as fiat direct from your wallet I'm not sure I see the point in it? Turning £200 into 200 "Britcoin" that's worth the same sounds like having crypto for the sake of having crypto.  

 

I don't think it's a lot of assumptions when another poster talked about trading them on exchanges in the context of the coins we were discussing. It wasn't directed at anything you've said.

 

You make a fair point though about governments working with existing crypto companies so nothing to do is perhaps strong. 

 

As for your last paragraph I'm not sure I see the point in it either in developed economies. I struggle to see what gap it fills. 

[Felix Lighter]

Today I tried using my mobile banking app to send funds to Binance to buy some crypto.

Here is the text message I received from RBS.

 

Hi, it's RBS. To keep your money safe and secure, we have rejected your payment of £x to your selected cryptocurrency provider. Funds have not left your account and future payments may also face the same restrictions. Find out more here...

 

Anyone else experienced their bank deciding what you can and can't spend your money on?

 

 

Edited March 26, 2023 by Felix Lighter

[MoncurMacdonaldMercer]

1 hour ago, Felix Lighter said:

Today I tried using my mobile banking app to send funds to Binance to buy some crypto.

Here is the text message I received from RBS.

 

Hi, it's RBS. To keep your money safe and secure, we have rejected your payment of £x to your selected cryptocurrency provider. Funds have not left your account and future payments may also face the same restrictions. Find out more here...

 

Anyone else experienced their bank deciding what you can and can't spend your money on?

 

 

assuming true 🙀

 

in the event that the ‘investment’ you were about to make goes through the roof short-term would you have grounds for compo on the profit you would have made ?
 

I hear companies on the radio offering to fight the case for people who bought time shares / diesel cars etc seems like this would be a more obvious case (subject to the terms and conditions of your account obvs)

 

are they still letting you buy tokens on only fans etc ? 
 

 

 

[IronJambo]

1 hour ago, Felix Lighter said:

Today I tried using my mobile banking app to send funds to Binance to buy some crypto.

Here is the text message I received from RBS.

 

Hi, it's RBS. To keep your money safe and secure, we have rejected your payment of £x to your selected cryptocurrency provider. Funds have not left your account and future payments may also face the same restrictions. Find out more here...

 

Anyone else experienced their bank deciding what you can and can't spend your money on?

 

 

British banks have got real tight on crypto purchases recently. I've only been able to use a card through one DEX and that's because the bank's don't know where the money's going. Other solution is to use a DEX and pay via bank transfer. 

[Dean Winchester]

1 hour ago, Felix Lighter said:

Today I tried using my mobile banking app to send funds to Binance to buy some crypto.

Here is the text message I received from RBS.

 

Hi, it's RBS. To keep your money safe and secure, we have rejected your payment of £x to your selected cryptocurrency provider. Funds have not left your account and future payments may also face the same restrictions. Find out more here...

 

Anyone else experienced their bank deciding what you can and can't spend your money on?

 

 

Yes. I moved away from RBS because of this

[hughesie27]

A lot of banks will reject transactions to Crypto related stuff. Revolut is usually my go to. 

[Felix Lighter]

1 hour ago, MoncurMacdonaldMercer said:

assuming true 🙀

 

in the event that the ‘investment’ you were about to make goes through the roof short-term would you have grounds for compo on the profit you would have made ?
 

I hear companies on the radio offering to fight the case for people who bought time shares / diesel cars etc seems like this would be a more obvious case (subject to the terms and conditions of your account obvs)

 

are they still letting you buy tokens on only fans etc ? 
 

 

 

 

WTF?😆

1 hour ago, IronJambo said:

British banks have got real tight on crypto purchases recently. I've only been able to use a card through one DEX and that's because the bank's don't know where the money's going. Other solution is to use a DEX and pay via bank transfer. 

 

I initially tried using my debit card but it was refused, binance saying the card wasn't supported, so clicked on the bank transfer option which was refused by the bank.

Just been reading a bit about DEX's on Coinbase and it says they are crypto only, no Fiat. Is that correct? Sounds a bit dodgy.

1 hour ago, Dean Winchester said:

Yes. I moved away from RBS because of this

 

Did you speak to them about it? I'm thinking of going to a branch tomorrow to find out what they are playing at. 

[Arse 'Friends' Dyslexic?]

10 minutes ago, Felix Lighter said:

Did you speak to them about it? I'm thinking of going to a branch tomorrow to find out what they are playing at. 

 

What they are "playing at" is protecting their reputation.

A number of customers (of various banks) either got scammed or lost shed loads when the prices tanked - plus IIRC the exchanges (at the time) wouldn't adhere to various regulations.

So the banks decided there would be less flak if they just blocked the transfers.

[IronJambo]

3 minutes ago, Felix Lighter said:

 

WTF?😆

I initially tried using my debit card but it was refused, binance saying the card wasn't supported, so clicked on the bank transfer option which was refused by the bank.

Just been reading a bit about DEX's on Coinbase and it says they are crypto only, no Fiat. Is that correct? Sounds a bit dodgy

You're actually better off on a DEX as you own your crypto then.

Do loads of research if you go down this route.