Cryptocurrencies

[OngBonga]

dent has now tripled in price since I sold. God hates me.

[Keith]

lol my dip purchases are now solidly in profit .....having been down a fair bit at the bottom of the dip ......have some big holdings of coins that are pumping hard . 10days ago ADA was probably around 1.30 now 2.16 , xrp was around .65 now 1.18. looks like i'm about hitting my capital gains allowance again already for the year with a lot of coins still way down on their highs from may

[Keith]

Did you do the coinbase Ong ?

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[Keith]

added the fetch.ai last night so look like you can keep adding new tokens every so often

[OngBonga]

Did you do the coinbase Ong ?

No. I can't even remember what the coinbase thing was.

[Poopadoop]

I can't even remember what the coinbase thing was.

Wasn't it something to do with free monies?

Have another spliff.

[OngBonga]

Have another spliff.

This is the most sensible thing you've said since you last said it.

[Keith]

#503 @ong scroll up

[OngBonga]

Yeah done it now, signed up for my free money. £23.38

What a day, think I'll have a spliff.

[OngBonga]

I got XLM, COMP, GRT, FET, CLV, AMP

[OngBonga]

Shoulda bought the dip like Keith

[Keith]

check the fees ...but if you sell it and buy usdt ...then sell the usdt and put it into something else you do want you'll have done the $100 of trades and get the 10$ bonus - > 10$ -fees is extra free money

[OngBonga]

Now £23.42

fuck me it's happening

[Keith]

free spliffs for ong when he sells lol

[Poopadoop]

free spliffs for ong when he sells lol

He's turning into Britain Kramer. Don't work and fall ass backwards into money.

[Keith]

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ADA pumping hard along with some of my other coins

[Keith]

its still pumping Capture.JPG

[OngBonga]

I already had a coinbase account so I probably already covered $100 in trades, almost certainly.

[MadMojoMonkey]

Those daily numbers make it seem like it's just free money. It still feels to me like it's really a full time job, though. Am I wrong?

Like, how much time do you spend on average in a week actively thinking about your crypto?
I guess it's not fair to count daydreaming or non-investment thoughts. I don't exclusively think about physics when I'm on the clock, after all.

I'm just trying to gauge the level of time commitment involved.

[OngBonga]

I pretended I didn't see how much he's making a day.

[Keith]

its the advantage of working from home ( have crypto youtube vids playing while i work and absorb stuff just by listening ) and also crypto is semi involved in work. and that screenshot is from the original £8K i invested back at the start of february + mining income from mining ETH
.
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The dotted line represents the effective buying cost which isnt the actual amount included as it includes the reinvested profits when i was actively trading in and out of coins so during the sell offs i was down on my effective tax cost but with realized gains and now the excess above the dotted line is unrealized taxable profit. The mined ETH is counted as a purchase at the value it was worth when i received it for tax purposes which also increases the effectiong buying cost .I've now been mining ETH for ~7 months


Its a bit like a poker bankroll , it will go up and down day to day but in a bull market prices will trend upwards over time.

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thats the portfolio breakdown so a big ADA pump gives nice profits . the Other will be the coinbase coins

[Keith]

ada pumping again

[Keith]

forgot the free money portfolio
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[Keith]

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ada still pumping

this is the last month where it could have been bought at $1 in july

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[Keith]

@Ong watch this https://www.youtube.com/watch?v=08pgr-aXXbE

this exploit may apply to safesun leaving your crypto vulnerable

[OngBonga]

I have no idea what he just told me, other than safemoon is a scam coin, and safesun likely is too. I already know this. Safesun seems to have hit rock bottom where the remaining holders are better off continuing to hold. I'm in that boat, I can pretty much sell my coins at will for around $300, or put a sell order in and patiently wait for $400+. It's kinda not worth me taking any less, or to put it another way, it's worth the risk holding. If the coin returns to pre crash levels (debateable) that's a 15x increase from current price. Considering I can probably bail at at $300 at any given time, I'm not in a hurry to get out. Ultimately I put ten dollars into this coin, so I've done well to build my bag from that to what it is through a mini bear market. We'll see how patient I remain with it.

[gretahucat]

Guys, I see more and more disagreements about whether it is necessary to invest money in bitcoin or cryptocurrency in general, whether it will bring profit, etc. If you are confident in your money and in your decision to do this, you should not write on the forum about whether it should be done or not. If you decide to invest money in the project, get a profit, well, or a loss as it goes. They won't tell you many valuable things here anyway, because people don't need another competitor, you know? I had several friends who invested in a low price cryptocurrency and are now making a considerable profit, although everyone told them that they were fools and so on.
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[marcuses65]

I used to buy gold more often, but now increasingly buy cryptocurrency, although understand that this is just electronic money

[OngBonga]

I think I just broke a trading bot. Either it ran out of money/coins, hit its stop loss, or the human owner saw what was happening and turned it off. I wanted to see how much I could make of it, I was making around 1% per transaction, maybe two transactions a minute going at a leisurely pace. I made maybe $5 in half an hour or something. It abruptly stopped trading after a while.

[Keith]

flip burgers at mcdonalds ? they'll keep paying at that rate?

[OngBonga]

Can I smoke weed and drink tea while flipping burgers? Nope. And if this shitcoin goes 10x, which it could, that five bucks I fleeced off the bot turns into $50. Worth half an hour of amusement.

I've found a new way to gamble. Fantasy football for money. I've paid £20 for the season, best team wins £200k. My current ranking is 323 out of 36k or so, which would win me £175. There's also weekly games, I've played a few of them and picked up money in a couple, only a few quid but the payout structure isn't dissimilar to poker, there's good money at the top. Also put £8 on poker and in my first tourney went reasonably deep and won $40-odd.

[Keith]

Anyone interested in the Koinly app to work out/print their crypto tax liabiility/forms they have a 24hour discount code 155D9CD4 offering 30% off which probably ends in about 12 hours

the website only offers 15% off

[Keith]

Ouch ....down about £10k with todays sell off ..... still a healthy profit overall though

so bought the dip and invested another £4k into ETH , Solana and xrp

[OngBonga]

Traded all my free coinbase coins for chainlink, and link has outperformed all of them. Win.

Sold my safesun, took market price and put the money into link. Safesun has continued to lose value despite the market being somewhat bullish. Another win.

Got some dash and dent too, both doing ok. I want in on luna and sol too but I think I'll wait for a better entry point, both seem a little overpumped right now.

[OngBonga]

Current portfolio -

LINK - 8.5 ($230)
DENT - 47500 ($220)
DASH - 0.8 ($155)
SOL - 1 ($160)
ATOM - 1 ($36)
LUNA - 1 ($39)

plus around $200 in mUSDC/USDC

and around $2 of safeshitcoins

I think I've put around $300-400 in crypto so this is fine.

[OngBonga]

My fantasy football ranking is currently 49/37500, currently sitting on a £1750 prize and keeping pace with the leaders. £200k for 1st.

[OngBonga]

Updated portfolio -
ATOM - 1 ($36)
HEX - 221 ($62)
KAREN - 4627416504 ($6)
LINK - 7 ($200)
SAFESUN - 51865597 ($67)
SOL - 1 ($182)
USDC - $6
mUSDC - 82 ($100 ish)
DENT - 47,619 ($292)
DASH - 0.5 ($100)
MIR - 18.8 ($56)
TOMO - 17.8 ($44)
LUNA - 1 ($42)
BNB - 0.06 ($30)
CUNT - 60,000 ($8)

and about $5 in shrapnel

Just over $1200

All winners except the CUNT, which is a significant loss ($50 invested), and the HEX, which I've only just bought.

When millionaire?

[boost]

CUNT is an awful shitcoin because it's highly unlikely to get any media buzz.

Mainstream outlets will publish pieces that mention shit coins because the silliness makes for a fun "lol what a world" fluff piece-- but CUNT is just too harsh of a curse word in, at least in American English, to fit that news template.

[OngBonga]

CUNT is an awful shitcoin because it's highly unlikely to get any media buzz.

Mainstream outlets will publish pieces that mention shit coins because the silliness makes for a fun "lol what a world" fluff piece-- but CUNT is just too harsh of a curse word in, at least in American English, to fit that news template.

This is true, and twitter's algorithm is probably not going to let cunt trend, but it just made me laugh and I wanted to own some. I probably threw too much into the coin, should've just put a tenner in, but whatever.

Its actual name is mooncunt, it's a pisstake of safemoon and all the other stupid safe and moon shitcoins out there. It's actually a decent coin in the sense it's designed partly as a joke, and partly a charity coin. The creator decided that CUNT stands for Charitable Unruggable Networking Token. It supports cervical cancer charities. But people need to actually trade it for it to raise money.

It's probably a write off.

[daven]

My fantasy football ranking is currently 49/37500, currently sitting on a £1750 prize and keeping pace with the leaders. £200k for 1st.

didn't isf or someone similar post a bit about fantasy football five or so back? if so, recommend reading i guess?

[OngBonga]

didn't isf or someone similar post a bit about fantasy football five or so back? if so, recommend reading i guess?

Hey Daven. Not really interesting in finding his post, I consume a fair amount of fantasy football content on youtube and follow Premier League football, so it's probably not worth my time, especially if it's old content. Cheers though.

I'm still top 100, less than 30 points off the top (that's fairly close) going into this weekend of action. If I'm still top 100 at the end of the season I'll be very happy.

[OngBonga]

CUNT is an awful shitcoin because it's highly unlikely to get any media buzz.

Just to add - The only way this coin really picks up any attention is if a social media influencer promotes it. That's definitely possible, there's plenty of well-followed people looking to pump crypto coins for their own benefit.

[OngBonga]

I've found a market that makes no sense. I'm buying at around $0.60 and selling at around $1.40. The main drawback is that it's a ridiculously low volume market, I'm lucky if I trade $20 a week. But it does mean that I get free money to invest in other coins. From an initial $30, I've got $60 in safesun (just so I don't cry if it megapumps), about $70 in $HEX, and about $100 worth of these coins I'm now trading.

I see activity that makes no sense, too. Someone is basically buying coins off himself. He'll put an order it to sell, then immediately buy them. Then he'll put an order in to buy, and immediately sell. He's losing a small percentage to fees, so I'm kind of at a loss as to what's going on. My best guess is someone has hacked another bitmart account, and rather than transfer funds wallet-to-wallet, which would be trackable, he's selling coins to the hacked account via the exchange and buying them back cheaper., thus slowly draining the hacked account of $UDST. But that's a pure guess, the only explanation I can think of that makes any sense. Naturally, I try to snipe the occasional trade, and occasionally succeed, but I'm not going to sit staring at the market for hours waiting for him to do his thing.

[OngBonga]

I'm not top 100 anymore, had a terrible day, dropped all the way down to the 900s. Brutal. From 40-odd points off the lead to 70-odd points.

[boost]

yeah, I didn't know it was a charity coin and specifically for a women's health issue-- that wrinkle actually gives it a chance, people love a good heel turn.

[OngBonga]

It didn't start off that way, the coin has a similar dynamic to safemoon and the like, where a percentage of trades is creamed off. With safemoon, those funds are redistributed to holders, but in the case of mooncunt, the creator polled his followers and asked what they think should happen to the funds... and charity prevailed.

[boost]

You got any Shiba Inu? It's my only shit coin, can't even remember why I tossed some change into it

[OngBonga]

I imagine it'll shit the bed sooner or later, rather like DOGE. Can't see how it carries on like this. I might be wrong though.

[OngBonga]

Nah I missed that boat, I'm aware it's going mental though.

[boost]

yeah, it's a small bit of money, so I'm having fun trying to time it. It keeps getting listed on exchanges and the hype is that it'll get listed on Robinhood. Probably gonna sell off my principal today and let the rest ride for a bit.

I'm curious if it will crash once it hits RH. Are there really that many RH users who don't also have accounts on Coinbase/Public? Seems like there might be a good bump from late comers who think RH exclusivers will flood in, then when that underperforms the bottom will fall out.

[OngBonga]

Bitmart has a shiba market too, I think it's one of the primary exchanges for safemoon, another popular meme coin, so it surprises me that a new listing can have such an effect. idk who's buying these coins at all-time highs though, seems crazy to me.

[Luco]

I still can't afford a lambo

Maybe a hot wheels lambo

[OngBonga]

I still can't afford a house.

I'm around 1% of the way there.

[oskar]

I still can't afford a house.

I'm around 1% of the way there.

That percentage depends heavily on how much you can stretch your definition of what a house is.

[Keith]

what can i say , its been a nice couple of months .

Kraken balance is now £6k above the total that I invested originally without considering the value of exodus and binance balances.

Waiting for ada to spark back to reach news highs. hopefully soon as DEXs start to launch and the plutus application backend is released allowing a lot of the projects waiting to deploy.

currently mining ETH to a different pool and getting paid in bitcoin every other day to avoid the horrendous gas fees. before i was mining and getting paid once a month which cost $3-5 . last payment cost $0.05 on bitcoin. Once its in bitcoin i have the option to sell it and swap into another coin

[mosss45]

I think that cryptocurrency is a great way to make money these days. I think that many people still underestimate the opportunities to make money easily. However, one must not forget about the big risks in this business ...

[Keith]

I think that #keyword# is a great way to make money these days. I think that many people still underestimate the opportunities to make money easily. However, one must not forget about the big risks in this business ...

is it cynical to apply that amendment as a bot post

[OngBonga]

is it cynical to apply that amendment as a bot post

Maybe.

edit - keith read the mod edit, it's probably best I don't leave what I said public as it gives people ideas!

[Keith]

is it cynical to apply that amendment as a bot post

And hes gone ....casino link came in hidden behind a WSOP link

[OngBonga]

lol safesun is down 40% today but I've traded a 40% profit in the volatility.

[OngBonga]

lol safesun is down 40% today but I've traded a 40% profit in the volatility.

Adding to this... the value of safesun has halved in five days, and during this time I've doubled my stack. Funny really, whatever it loses I gain. Problem of course is I'm not actually making any money unless the coin recovers.

Why the fuck do I even bother with this shitcoin? I like the coin because it's very low liquidity, low volume but not completely dead, it's easy to sell coins and buy back cheaper. I've made a decent amount of money from this coin, even though the coin itself performs terribly. I think I'm past $500 in profit, which has mostly been spread over better coins like SOL and LINK.

[OngBonga]

Ok let me define what "house" means in this context.

Somewhere I can live comfortably for the rest of my life, if necessary. We're probably looking at £200k, though £150k at least gets me on the property ladder in a semi-nice property. Anything less than that, might as well rent.

[oskar]

Have you considered Budget Venice?

[terrysmithh54]

I never understood the full value of cryptocurrencies. In addition, the cryptocurrency is not backed by gold. Although bought bitcoins, I only invested a little money.

[BillyDuke1989]

I never understood the full value of cryptocurrencies. In addition, the cryptocurrency is not backed by gold. Although bought bitcoins, I only invested a little money.

Definitely not, bitcoin has much more in common with gold than any conventional money. Bitcoin, like gold, is a limited resource. The world's physical gold market is valued at $ 2.6 trillion today, including assets held in gold ETFs, according to JPMorgan research. Of course, the cryptocurrency sector is dozens of times smaller, but bitcoin also has a limited supply of coins, which makes it as scarce as the precious metal. Therefore, both gold and bitcoin can be used to store savings from inflation. For example, companies like MicroStrategy and Mode have already invested some of their profits in bitcoin. Business representatives see cryptocurrencies as an alternative way to protect assets from dollar inflation.

[MadMojoMonkey]

Most of the world's currencies are tied to the value of the US dollar, and the US dollar hasn't been on the gold standard since forever.

[OngBonga]

lol he's just making nonsense posts so he can post links in the near future. Keith will ban him within a week.

[Keith]

sweepstakes for how long before first post and bannable post for new users for the degenerate gamblers here ? lol

[OngBonga]

I just saw a bot sell 15+ AVAX at a 10% loss, we're talking a $200 ish loss. I don't know why that feels so good seeing as I didn't buy his coins, but it does feel like a win. Fuck the bots.

[OngBonga]

Of course, the cryptocurrency sector is dozens of times smaller

Not quite. Bitcoin alone is worth around a third of the market cap of gold.

[OngBonga]

lol

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[OngBonga]

You'll have to click the image to read it.

Context - Do Kwon is the founder of $LUNA (terra), and here he's calling someone retarded for detailing in November 2021 how a wealthy attacker could bring down the coin, making a fortune in the process.

Guess what happened? Luna got attacked. Two days ago it was trading at around $65, today it dipped to $0.70 and is currently trading at $1.13. Someone (BlackRock and Citadel hedge fund managers allegedly) has made an awful lot of money, around $800m by some estimates (citation needed), while lots of regular people have seen investments wiped out. I'm in no doubt this has caused suicides.

Fucking brutal day for crypto, one that will live long in the memory of those who witnessed it.

[boost]

(BlackRock and Citadel hedge fund managers allegedly)

probably not, relative to the reputational hit, this is chump change to them.

Fucking brutal day for crypto, one that will live long in the memory of those who witnessed it.

attention spans are short, people forget that bitcoin halved from 60k to 30k twice in the last year

I'm in no doubt this has caused suicides.

What actions on scale don't result in blood? I don't mean this dismissively, but people focus on one event and want to wag their fingers. But you can't build a fucking bridge without a very real risk of someone dying.

[OngBonga]

$800m isn't really chump change to anyone, but I'm aware it's wild Twitter speculation.

What isn't speculation is that this kind of attack requires a lot of capital to pull off. This isn't chump crime either. This is hugely wealthy and extremely intelligent people exploiting flaws in crypto ecosystems. I don't know what happened, the November warning tweets might as well have been in French for all the sense it made to me, but this was foreseen.

This isn't just any crypto crash event, people won't forget this. This is, quite possibly, the most significant event in the history of crypto since bitcoin was created. What we just witnessed is the zeroing of a top ten coin. We saw a "stable" coin depegged and that too is on its way to zero. This hasn't happened before, not on this scale. The knock-on effect this has on confidence is huge. I'm thinking of bailing on my coins and going all in on $ETH for the simple reason I actually use $ETH for not-trading purposes, meaning it has value to me even if it crashes. If I don't use a coin, do I really want to risk being left holding a big bag of dicks? That's what $LUNA holders have right now. A big bag of dicks.

What actions on scale don't result in blood? I don't mean this dismissively, but people focus on one event and want to wag their fingers.

I was talking about this with my buddy. I asked him if he made $800m would he care about the suicides? We both agreed we very probably wouldn't care if we didn't know about them specifically.

I'm not sure the attackers have done anything illegal. It's easy to say it's immoral, because it fucking is, but nobody is obliged to behave in line with common morality. That's what law is for. If they didn't break any laws, it's hard to not have a massive dose of respect for what they did, even if it did ruin the lives of lots of people.

[boost]

Yeah, you make some good points regarding the significance.

Not sure why you're conflating morality with legality.

The fact is, all complex systems can be gamed. The job of the system architect(s) is to design such that the gaming of the system does not overwhelm or break the system. It's a balancing act though, because mitigating measures also can break a system.