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Cryptocurrency

P.D. said:
I'm on course to have my mortgage paid off within a year. It's all unrealised profit as not sold it yet hoping it goes up more.
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Can you sell it and cash out? I've heard stories where people have made a fortune overnight but you can't sell it?
 
Grays_1890 said:
Can you sell it and cash out? I've heard stories where people have made a fortune overnight but you can't sell it?
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Yeah of course you can, some coins have poor liquidity but they're mostly meme/joke coins or scams. For decent coins you can easily sell into a stablecoin then exchange that for GBP and withdraw to your bank. Done it plenty of times in the past.

It's a wild industry that could do with some regulation but if you play it right there's a lot of opportunity.
 
P.D. said:
Yeah of course you can, some coins have poor liquidity but they're mostly meme/joke coins or scams. For decent coins you can easily sell into a stablecoin then exchange that for GBP and withdraw to your bank. Done it plenty of times in the past.

It's a wild industry that could do with some regulation but if you play it right there's a lot of opportunity.
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Oh cool fair play to you.
 
Grays_1890 said:
Anyone on here made any serious serious cash from this? Seems like there was alot of talk, hope and hype, just wondering if thats materalised and if anyones cashed in and say become very rich from it.
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So missed your post the other day.

Since my initial investments I have so far deposited £6,082 into different crypto projects.

I have withdrawn £51,471 so am up about £45,000.
My cold wallets and a little in coinbase and kraken well I'm not going through and calculating it all. But I'm happy with where I sit.

Can't be arsed to scroll through this or it might have been another bitcoin thread, but some of us have been investing for years.

For the record I will have to declare my coinbase sales. But my other ones were through a non UK bank account, so as to avoid tax. Considering how many people consider crypto gambling then it is a mystery why you pay tax on your 'winnings'

Interesting reading how many big wall street banks are saying tokenisation will be a big thing over the next 5 years. The tokens business to real world assets is a huge growth area.

To that end I would look at polygon as a very good company. Dont get to focused on short term price trends and look at what companies are building.
 
markysimmo said:
Slightly different topic but my pension fund is the highest it has ever been, had a good few months for sure
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I keep bighting my finger nails over cashing in my Rolls Royce shares (or some of them)....just as I think they must be topping out they keep making new highs.

The price dropped ridiculously low during COVID, I thought I was a bit late jumping in at £1.01. (they bottomed at something like 69p)
 
ricky2tricky4city said:
I keep bighting my finger nails over cashing in my Rolls Royce shares (or some of them)....just as I think they must be topping out they keep making new highs.

The price dropped ridiculously low during COVID, I thought I was a bit late jumping in at £1.01. (they bottomed at something like 69p)
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Think it was mentioned in the buy the dip thread. Great holding and soon as airlines got flying again they would do great.
 
Grays_1890 said:
Can you sell it and cash out? I've heard stories where people have made a fortune overnight but you can't sell it?
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some banks are more hassle than others. I’m With Lloyds and cashing out is straightforward, I took some big chunks out (by my standards) no issue at all. i sometimes have to ring them up when I want to deposit more capital onto the exchange, I use Kraken, but they just tell me the risks etc and never block it.

it;s certainly on a nicer rip at the moment.
 
DFL's recent thread about Bitcoin being "up" prompted me to revisit the small "fun" investment I made when DFL and my own friends were carping on about Bitcoin and in particular XRP Ripple being the next big thing, a few years ago now.
I knew/know nothing about these, so just put £100 or about USD125 [Edit, it was USD137 at the time] into each of the 12 top coins of the time, so about USD1500 total.

Currently these "investments" are worth:
BTC = USD166
USDT = USD138
ETH = USD133
XRP = USD60
ADA = USD58
DOGE = USD45
BCH = USD41
DOT = USD39
LTC = USD32
VET = USD32
EOS = USD13
FIL = USD10
So the total balance is USD769 from about 1500USD put in, about half
 
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Bullet said:
DFL's recent thread about Bitcoin being "up" prompted me to revisit the small "fun" investment I made when DFL and my own friends were carping on about Bitcoin and in particular XRP Ripple being the next big thing, a few years ago now.
I knew/know nothing about these, so just put £100 or about USD125 into each of the 12 top coins of the time, so about USD1500 total.

Currently these "investments" are worth:
BTC = USD166
USDT = USD138
ETH = USD133
XRP = USD60
ADA = USD58
DOGE = USD45
BCH = USD41
DOT = USD39
LTC = USD32
VET = USD32
EOS = USD13
FIL = USD10
So the total balance is USD769 from about 1500USD put in, about half
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When the hell did you put into doge to only be half up.
 
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