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Thread: My crypto / blockchain adventure

  1. #21
    NoFraud Poker Room Manager Belly Buster's Avatar
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    One thing that surprised me a lot was the fees that are involved in one straightforward BTC transaction.

    It's kinda like when they promised nuclear electricity would be too cheap to meter. Here we are a few years in and its $1.20 minimum to ship some coin.
    Quote Originally Posted by Dan Druff View Post
    BTW JACKDANIELS is the first one banned from the thread. He is accusing me of being "duped by a middle aged man who dresses like John Cena"
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  2. #22
    Plutonium Sanlmar's Avatar
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    Quote Originally Posted by Belly Buster View Post
    One thing that surprised me a lot was the fees that are involved in one straightforward BTC transaction.

    It's kinda like when they promised nuclear electricity would be too cheap to meter. Here we are a few years in and its $1.20 minimum to ship some coin.
    Like the nuclear energy comparison. Then every country either banned it, froze it or plans to phase it out.

  3. #23
    NoFraud Poker Room Manager Belly Buster's Avatar
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    Quote Originally Posted by Belly Buster View Post
    Profit/(Loss) for the week is +£136.15. Cumulative P&L is +£136.15.
    This week bought 0.625BTC @ ~ $3,740 USD/BTC.

    I still need to put a lot more polish on my calculations, but I'm revising last weeks P&L to -£165.28 and this weeks P&L is +£169.81. Cumulative P&L is +£4.53

    Woohoo.

     
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      IamGreek: you're rich!
    Quote Originally Posted by Dan Druff View Post
    BTW JACKDANIELS is the first one banned from the thread. He is accusing me of being "duped by a middle aged man who dresses like John Cena"
    #FREEJACK #NEVERFORGET

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  4. #24
    NoFraud Poker Room Manager Belly Buster's Avatar
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    This week added EUR1,000 worth of both Ethereum (@ $246.24 per ETH) and Litecoin (@ $45.25 per LTC).

    This weeks P&L is +£1,455.00. Cumulative P&L is +£1459.53.
    Quote Originally Posted by Dan Druff View Post
    BTW JACKDANIELS is the first one banned from the thread. He is accusing me of being "duped by a middle aged man who dresses like John Cena"
    #FREEJACK #NEVERFORGET

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  5. #25
    NoFraud Poker Room Manager Belly Buster's Avatar
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    BTC has rocketed which has helped the P&L but I'm trying to buy on the dips. So this week I've added another 7.5 Ethereum which has been a bit flat. I believe ETH has a better long term potential than BTC for a number of reasons, but like VHS vs Betamax sometimes there's only one winner long term.

    Embarrassingly, pretty much all my previous calculations were wrong (but not by much) due to spreadsheet fail. This week's P&L is +£695.86 and cumulative P&L is +£1,749.38.

     
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      Hockey Guy: Nice
    Quote Originally Posted by Dan Druff View Post
    BTW JACKDANIELS is the first one banned from the thread. He is accusing me of being "duped by a middle aged man who dresses like John Cena"
    #FREEJACK #NEVERFORGET

    NoFraud Online Poker Room: http://nofraud.pokerfraudalert.com:8087. For password resets and reload requests PM me.

  6. #26
    NoFraud Poker Room Manager Belly Buster's Avatar
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    No purchases this week partly because I have no funds on coinbase (they're on their way) and also because I can't bring myself to buy at the top of the market.

    Where this strategy can all go wrong is that I'm buying all the way up and then left holding the baby in a falling market in a few months. But right now after a big surge in BTC and LTC the weekly P&L is +£1,715.06 and the cumulative P&L is +£3,464.44.
    Quote Originally Posted by Dan Druff View Post
    BTW JACKDANIELS is the first one banned from the thread. He is accusing me of being "duped by a middle aged man who dresses like John Cena"
    #FREEJACK #NEVERFORGET

    NoFraud Online Poker Room: http://nofraud.pokerfraudalert.com:8087. For password resets and reload requests PM me.

  7. #27
    NoFraud Poker Room Manager Belly Buster's Avatar
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    Getting money onto coinbase continues to be a fail. I sent €9000 but it just bounced back to my account (at least it didn't get lost).

    I've signed up for a bittylicious account as well. The initial trading limits are lol 0.008 BTC but after emailing ID I can now buy a maximum of 0.32 BTC in one go. While this was getting set up I've again resorted to the XBTE ETF and added 6 units @ £216.96/unit last week and another 9 £220.70/unit this week.

    Bitcoin has continued to rise but both LTC and ETH went backwards. Weekly P&L is +£277.16 and the cumulative P&L is +£3,741.61.

    On nothing more than rawwolf's recommendation, I'm going to look at DragonChain this week.
    Quote Originally Posted by Dan Druff View Post
    BTW JACKDANIELS is the first one banned from the thread. He is accusing me of being "duped by a middle aged man who dresses like John Cena"
    #FREEJACK #NEVERFORGET

    NoFraud Online Poker Room: http://nofraud.pokerfraudalert.com:8087. For password resets and reload requests PM me.

  8. #28
    100% Organic MumblesBadly's Avatar
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    Belly,

    Since you are merely holding whatever you buy for at least 6 months, your running P&L this far is largely driven by how much whatever you bought changes in price. And since you mostly started with buying bitcoin, that crypto's price rise is the dominant factor driving your results to date.

    And now that you are getting into other cryptos, it would be interesting to periodically see the percentage breakdown of your investments in the various cryptos based on market value, both including the initial $£50,000 cash commitment, and just the cryptos. Running graph charts, both absolute value and percentage, would be awesome to see.

    Thanks for considering this.

     
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      Deal: Honestly, unless you are posting Truck stop food advice, nobody is reading it.
    _____________________________________________
    Quote Originally Posted by Dan Druff View Post
    I actually hope this [second impeachment] succeeds, because I want Trump put down politically like a sick, 14-year-old dog. ... I don't want him complicating the 2024 primary season. I just want him done.
    Quote Originally Posted by Dan Druff View Post
    Were Republicans cowardly or unethical not to go along with [convicting Trump in the second impeachment Senate trial]? No. The smart move was to reject it.

  9. #29
    NoFraud Poker Room Manager Belly Buster's Avatar
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    Quote Originally Posted by MumblesBadly View Post
    Belly,

    Since you are merely holding whatever you buy for at least 6 months, your running P&L this far is largely driven by how much whatever you bought changes in price. And since you mostly started with buying bitcoin, that crypto's price rise is the dominant factor driving your results to date.

    And now that you are getting into other cryptos, it would be interesting to periodically see the percentage breakdown of your investments in the various cryptos based on market value, both including the initial $£50,000 cash commitment, and just the cryptos. Running graph charts, both absolute value and percentage, would be awesome to see.

    Thanks for considering this.
    I might do this but it's all a bit early to have any real data.

     
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      MumblesBadly: Thx
    Quote Originally Posted by Dan Druff View Post
    BTW JACKDANIELS is the first one banned from the thread. He is accusing me of being "duped by a middle aged man who dresses like John Cena"
    #FREEJACK #NEVERFORGET

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  10. #30
    NoFraud Poker Room Manager Belly Buster's Avatar
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    Gotta love the gas slider on Myetherwallet that controls the transaction speed.

    3 speeds - "Not so fast", "Fast", and "Fast AF"

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    Quote Originally Posted by Dan Druff View Post
    BTW JACKDANIELS is the first one banned from the thread. He is accusing me of being "duped by a middle aged man who dresses like John Cena"
    #FREEJACK #NEVERFORGET

    NoFraud Online Poker Room: http://nofraud.pokerfraudalert.com:8087. For password resets and reload requests PM me.

  11. #31
    NoFraud Poker Room Manager Belly Buster's Avatar
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    As coinbase had fucked me around I've ended up a bit behind target on purchases, so I've aimed to catch up this week.

    Signed up for a bittylicious account. I think they are UK only, and the way you use it is bit scary, but it does work. When you want to buy you don't send your money to them directly but to some random agent's bank account. You then cross your fingers and hope it all works - thankfully it did. I did get an automated call from my bank saying to be careful of being scammed and I had to press a number of the phone which was basically to say I accept the risk if it all goes wrong! I guess they have flags on certain accounts that received a lot of random transfers. Anyway I added the max they would let me 0.32BTC @ £4,592/BTC (~$6028/BTC) and had the coin in my Trezor in about an hour. At the time they were about $5975 on coinbase so a bit of a premium, but no fees to pay so meh.

    Sent 5 ETH to the Dragonchain ICO. Gotta get on the ICO bandwagon. No idea how that will work out.

    Added £500 worth of ETH from a debit card (this week coinbase upped my limit to £500 from £325).

    So practically £4k invested this week. Weekly P&L is -£171.43 and the cumulative P&L is +£3,570.17.
    Quote Originally Posted by Dan Druff View Post
    BTW JACKDANIELS is the first one banned from the thread. He is accusing me of being "duped by a middle aged man who dresses like John Cena"
    #FREEJACK #NEVERFORGET

    NoFraud Online Poker Room: http://nofraud.pokerfraudalert.com:8087. For password resets and reload requests PM me.

  12. #32
    NoFraud Poker Room Manager Belly Buster's Avatar
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    BTC prices have gone bonkers this week, other cryptos have been flat. I suspect the others will ramp up if BTC takes a dive, but right now it's aiming for the moon.

    Found another provider localbitcoins.com where you can trade with others via bank transfer or in person (lol). Coins are held in Escrow until both sides are happy so seems fair.

    This week added £500 worth (0.08455085 BTC) and £1500 worth at at localbitcoins (0.25418774 BTC). Weekly P&L is +£3,668.75 and the cumulative P&L is +£7,238.92.
    Last edited by Belly Buster; 11-05-2017 at 12:07 PM.
    Quote Originally Posted by Dan Druff View Post
    BTW JACKDANIELS is the first one banned from the thread. He is accusing me of being "duped by a middle aged man who dresses like John Cena"
    #FREEJACK #NEVERFORGET

    NoFraud Online Poker Room: http://nofraud.pokerfraudalert.com:8087. For password resets and reload requests PM me.

  13. #33
    NoFraud Poker Room Manager Belly Buster's Avatar
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    Big crash in BTC this week (see official donkdown thread). Bought another £2k BTC at close to the the top of the market. Don't have much BCH, only the ones I got from the split, so didn't ride the upside there. Weekly P&L is -£2,358.13 and the cumulative P&L is +£4,880.79.
    Quote Originally Posted by Dan Druff View Post
    BTW JACKDANIELS is the first one banned from the thread. He is accusing me of being "duped by a middle aged man who dresses like John Cena"
    #FREEJACK #NEVERFORGET

    NoFraud Online Poker Room: http://nofraud.pokerfraudalert.com:8087. For password resets and reload requests PM me.

  14. #34
    100% Organic MumblesBadly's Avatar
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    Quote Originally Posted by Belly Buster View Post
    Big crash in BTC this week (see official donkdown thread). Bought another £2k BTC at close to the the top of the market. Don't have much BCH, only the ones I got from the split, so didn't ride the upside there. Weekly P&L is -£2,358.13 and the cumulative P&L is +£4,880.79.
    Are you dollar cost averaging in your planned holdings in BTC and other cryptos?
    _____________________________________________
    Quote Originally Posted by Dan Druff View Post
    I actually hope this [second impeachment] succeeds, because I want Trump put down politically like a sick, 14-year-old dog. ... I don't want him complicating the 2024 primary season. I just want him done.
    Quote Originally Posted by Dan Druff View Post
    Were Republicans cowardly or unethical not to go along with [convicting Trump in the second impeachment Senate trial]? No. The smart move was to reject it.

  15. #35
    NoFraud Poker Room Manager Belly Buster's Avatar
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    Quote Originally Posted by MumblesBadly View Post
    Quote Originally Posted by Belly Buster View Post
    Big crash in BTC this week (see official donkdown thread). Bought another £2k BTC at close to the the top of the market. Don't have much BCH, only the ones I got from the split, so didn't ride the upside there. Weekly P&L is -£2,358.13 and the cumulative P&L is +£4,880.79.
    Are you dollar cost averaging in your planned holdings in BTC and other cryptos?
    Yes - buying a fixed fiat amount rather than a fixed number of coin.

     
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      MumblesBadly: GL! I hope it moons for you.
    Quote Originally Posted by Dan Druff View Post
    BTW JACKDANIELS is the first one banned from the thread. He is accusing me of being "duped by a middle aged man who dresses like John Cena"
    #FREEJACK #NEVERFORGET

    NoFraud Online Poker Room: http://nofraud.pokerfraudalert.com:8087. For password resets and reload requests PM me.

  16. #36
    Diamond Tellafriend's Avatar
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    I'm a neophyte on this subject. Can someone share a link to a site with information explaining all of this to me -- from a beginner's perspective?

  17. #37

  18. #38
    Gold DonaldTrumpsHairPiece's Avatar
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    Why the constant calculations. If you plan on looking back after X months or years just know how many beans you spent and how many beans you'd have when you sell. That easy and PS ETH is a DOG.

  19. #39
    Plutonium big dick's Avatar
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    Quote Originally Posted by Tellafriend View Post
    I'm a neophyte on this subject. Can someone share a link to a site with information explaining all of this to me -- from a beginner's perspective?
    .

  20. #40
    Bronze Reno's Avatar
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    Quote Originally Posted by Tellafriend View Post
    I'm a neophyte on this subject. Can someone share a link to a site with information explaining all of this to me -- from a beginner's perspective?
    Start here:
    https://bitcoin.org/


    This is the video I share with friends and family that ask me what is bitcoin.


    He has many other good videos on his channel as well.

     
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      Tellafriend: thank you!
      
      big dick: ty reno
      
      Belly Buster: Good recommendations - especially the 2nd one.
    Last edited by Reno; 11-13-2017 at 09:33 PM.

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