Cryptocurrencies

[SauRoN]

Not irrelevant at all, it was a direct answer to your incorrect statements.

Fair enough.

My original point of view however had nothing to do with banks vs Crypto.

If anything they’ll be the ones to manage and hold it on behalf of most users just like they do with fiat now.


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[SauRoN]

USDC is ranked top 20 for market cap, and the coin is impossible to gamble with because it will always be the value of $1.

Well you can “gamble” it against other cryptos/currencies.

No different from old money USD though.


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[SauRoN]

Another problem is the loss of coins. People can die without anyone else knowing their private keys. Hard-drives fail, places burn down. Less coins in circulation push the value up of those still around.

This is a very good point so many people in the “keep your money off exchanges and manage your own wallet” brigade miss or fail to cater for and precisely why all my stuff sits with Luno.

If I die they have protocols in place to move my crypto over to my next of kin or to pay it out upon request.



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[dabean]

This is a very good point so many people in the “keep your money off exchanges and manage your own wallet” brigade miss or fail to cater for and precisely why all my stuff sits with Luno.

If I die they have protocols in place to move my crypto over to my next of kin or to pay it out upon request.



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I think that a distributed ledger (verified by proximity) makes more sense than a central one. 51% of the processing power does not equate the truth.

Investing in something I don't believe in is the same as trying to make a quick buck off a Ponzi IMO. If I thought it would hold value when a replacement came along I would change my mind.

 

[SauRoN]

I think that a distributed ledger (verified by proximity) makes more sense than a central one. 51% of the processing power does not equate the truth.

Investing in something I don't believe in is the same as trying to make a quick buck off a Ponzi IMO. If I thought it would hold value when a replacement came along I would change my mind.

Yeah look don’t go stake your life savings on it, but I reckon anyone who isn’t at least putting 10% of their investment holdings into crypto is spiting their own face.

Even if you just throw it into an ETF or something like DCX/EC10 and get the exposure in a passive fashion.

Personally it makes much more sense to me to keep a savings wallet where you gain interest on holding and you aren’t just gaining from price movement over time and a need to sell.

Of course that means more targeted exposure to specific crypto and not a broad stroke like the EC10 but it’s a compromise I’m happy to make.

I self manage my savings wallets but put some money into EC10 for my kids investment accounts which has seen a monstrous 400% growth since doing so without lifting a finger.

I mean if the likes of Michael Jordaan having a company to supper ETF crypto doesn’t convince people then nothing will.


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[Jings]

Well you can “gamble” it against other cryptos/currencies.

No different from old money USD though.


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Yep and luckily sold all my crypto on the exchange yesterday afternoon and converted to fiat. This morning people are up in arms as the market crashed by 20 percent. Tried several times to buy crypto before succeeding because of network congestion.

 

[SauRoN]

Yep and luckily sold all my crypto on the exchange yesterday afternoon and converted to fiat. This morning people are up in arms as the market crashed by 20 percent. Tried several times to buy crypto before succeeding because of network congestion.

What exchange is this?


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[Jings]

Yeah look don’t go stake your life savings on it, but I reckon anyone who isn’t at least putting 10% of their investment holdings into crypto is spiting their own face.

Even if you just throw it into an ETF or something like DCX/EC10 and get the exposure in a passive fashion.

Personally it makes much more sense to me to keep a savings wallet where you gain interest on holding and you aren’t just gaining from price movement over time and a need to sell.

Of course that means more targeted exposure to specific crypto and not a broad stroke like the EC10 but it’s a compromise I’m happy to make.

I self manage my savings wallets but put some money into EC10 for my kids investment accounts which has seen a monstrous 400% growth since doing so without lifting a finger.

I mean if the likes of Michael Jordaan having a company to supper ETF crypto doesn’t convince people then nothing will.


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What's the best way to learn about ETF's.

 

[Jings]

What exchange is this?


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Binance

 

[SauRoN]

Binance

Probably because their local market share is so small and can’t fulfill orders as there aren’t enough.


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[SauRoN]

What's the best way to learn about ETF's.

Easy Equities has some pretty good blog stuff.

But an ETF is effectively just a passive preset “grouped” investment in the underlying asset.

For the crypto one have a look here.

Welcome to EasyCrypto

Buy and Sell EC10, BTC, ETH and more | EasyCrypto.

www.dcx10.com

Which I buy through Easy Equities as I do with the rest of my self-managed portfolio.

You can buy directly through them (which I suspect is still Easy Equities in the background much like Satrix is now) but it’s obviously limited to their stuff only then.

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[Jings]

Probably because their local market share is so small and can’t fulfill orders as there aren’t enough.


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Whole market has gone a bit crazy when Bitcoin took a huge dip last night.

 

[Jings]

Easy Equities has some pretty good blog stuff.

But an ETF is effectively just a passive preset “grouped” investment in the underlying asset.

For the crypto one have a look here.

Welcome to EasyCrypto

Buy and Sell EC10, BTC, ETH and more | EasyCrypto.

www.dcx10.com

Which I buy through Easy Equities as I do with the rest of my self-managed portfolio.

You can buy directly through them (which I suspect is still Easy Equities in the background much like Satrix is now) but it’s obviously limited to their stuff only then.

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Thanks, it's a good start.

 

[Spizz]

Whole market has gone a bit crazy when Bitcoin took a huge dip last night.

Did you offload your Doge?

 

[Jings]

Did you offload your Doge?

Yes, yesterday afternoon. Bought in again this morning.

 

[SauRoN]

Whole market has gone a bit crazy when Bitcoin took a huge dip last night.

Binance only trades about 2-10 BTC in volume per day which is tiny compared to the likes of Luno or Valr doing hundreds.

So you will always have a bad time with them under extreme fluctuations.

But of course they offer the other Cryptos which the others don’t so there it’s an only option.


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[Spizz]

Yes, yesterday afternoon. Bought in again this morning.

Hodl for a year. See where it goes.

 

[Jings]

Hodl for a year. See where it goes.

To a hundred cents hopefully.

 

[Spizz]

To a hundred cents hopefully.

It’ll go there before a year. I’m aiming for $10 at least before I look at cashing out any of it.

 

[Jings]

It’ll go there before a year. I’m aiming for $10 at least before I look at cashing out any of it.

Do you think it could go for $10? That would mean a much higher market cap than Bitcoin.