Looking at the charts the cryptos I hold jumped up at the beginning of this month.... then dropped again.
Had I been on my toes i'd have taken what I could at the peak, around 5th May, then jumped back in around now as they dropped again thus trying to gain back a little of my losses.
However I find that now i'm back in work that has taken most of my attention. I need to get into a routine of checking activity on my coinbase account on a regular basis.
So theres a lesson to be learnt there for all of us. Don't just sit back and leave investments to do their stuff. Particularly with volotile gambles like cryptos. So due to my inactivity the value of my holding has dropped agaon.
I really must get a grip !
Total Invested so far = £189.16p
13/01/18 - Bank Transfer to Coinbase £185.16 + Bank Charge of £4
Current Crypto Values
Bitcoin £60.03
Litecoin £49.16
Total Current Value = £109.19
Saturday, 19 May 2018
Thursday, 8 March 2018
Doing the bitcoin shuffle...
Not much to say at the moment other than to quote and ex-workmate the CCs are up and down like a brides nightdress.
Yes they've dropped again but its not prumetted like the doom-mungers said it would. It ppicked up a bit as reported last time but now its dropped again. Its a tad above the lowest i've seen it as I poke the keyboard. Personally i'm quite happy if it bobs along the bottom for a while but i'm keeping a close eye on proceedings.
When I started this I basically looked at it as lost money so I won't be disappointed. As long as my original investment doesn't drop below 20 quid I will at least be left with the price of a fryup...
The snows all gone, at least down in the south eastern corner of the UK and the suns out so all is right with the world.....
Total Current Value = £129.27
Yes they've dropped again but its not prumetted like the doom-mungers said it would. It ppicked up a bit as reported last time but now its dropped again. Its a tad above the lowest i've seen it as I poke the keyboard. Personally i'm quite happy if it bobs along the bottom for a while but i'm keeping a close eye on proceedings.
When I started this I basically looked at it as lost money so I won't be disappointed. As long as my original investment doesn't drop below 20 quid I will at least be left with the price of a fryup...
The snows all gone, at least down in the south eastern corner of the UK and the suns out so all is right with the world.....
Total Invested so far = £189.16p
13/01/18 - Bank Transfer to Coinbase £185.16 + Bank Charge of £4
Current Crypto Values
Bitcoin £64.34
Litecoin £61.93
Wednesday, 28 February 2018
Has the bubble really burst ?
As I sit back and consider the state of the cryptocurrency world it seems that despite all the hype about the crypocurrency bubble bursting I have to wonder if this really will happen....
YES, the cryptocurrencies did drop over the last few months but really does this constitute the bubble bursting ?
Personally I think not !
Cryptos have levelled out if not risen a tad. Personally I think this is what the experts call a correction. Yes I have lost a little money and yes when you look at the graphs it doesn't look good but it hasn't hit rock bottom as all the doom-mongers predicted.
I also note that all the excitement on the various forums I follow has died down and for the most part they have gone relatively quiet. It does seem the internet is full of keyboard warriors and all those that just like to be able to say 'I told you so'.
To be honest at the moment i'm not worried.
I do think this like everything else goes in cycles and it all depends where the markets attention is at any given time. As I write this BBC News has just announced that Maplin has gone bust and earlier this morning announced that Toys R Us have also gone into administration.
This brings a different perspective to cryptocurrencies. When the financial world and the world of large companies and household names are in trouble people traditionally seek shelter in Gold and other tangible assetts.
If you've done your research cryptos are seen in this light by some so I have a feeling in my water (its probably got something to do with the bottle of wine I sank last night) that we will see cryptos rising in the short term.
Please note this is not a recommendation to buy. CCs are still a gamble but then what isn't in the current world. But it will be interesting to see how the CC markets pan out over the next few weeks because I have been predicting that a number of household names that have relied on having physical stores rather than going primarily online will sink this year. In fact I thought many would have gone down the pan in 2017.
Total Current Value = £148.20
YES, the cryptocurrencies did drop over the last few months but really does this constitute the bubble bursting ?
Personally I think not !
Cryptos have levelled out if not risen a tad. Personally I think this is what the experts call a correction. Yes I have lost a little money and yes when you look at the graphs it doesn't look good but it hasn't hit rock bottom as all the doom-mongers predicted.
I also note that all the excitement on the various forums I follow has died down and for the most part they have gone relatively quiet. It does seem the internet is full of keyboard warriors and all those that just like to be able to say 'I told you so'.
To be honest at the moment i'm not worried.
I do think this like everything else goes in cycles and it all depends where the markets attention is at any given time. As I write this BBC News has just announced that Maplin has gone bust and earlier this morning announced that Toys R Us have also gone into administration.
This brings a different perspective to cryptocurrencies. When the financial world and the world of large companies and household names are in trouble people traditionally seek shelter in Gold and other tangible assetts.
If you've done your research cryptos are seen in this light by some so I have a feeling in my water (its probably got something to do with the bottle of wine I sank last night) that we will see cryptos rising in the short term.
Please note this is not a recommendation to buy. CCs are still a gamble but then what isn't in the current world. But it will be interesting to see how the CC markets pan out over the next few weeks because I have been predicting that a number of household names that have relied on having physical stores rather than going primarily online will sink this year. In fact I thought many would have gone down the pan in 2017.
Total Invested so far = £189.16p
13/01/18 - Bank Transfer to Coinbase £185.16 + Bank Charge of £4
Current Crypto Values
Bitcoin £74.54
Litecoin £73.72
Friday, 16 February 2018
One month in and the road is rocky
Well after a first month or dire performance the crypo market is making a slow recovery. Question is will it be sustained. I have me doubts. However my two CCs are bouncing (bouncing means dragging themselves slowly) back but I await further falls.
The scaremongers on various forums are circling but most long term investors are just suggesting caution.
Its a strange thing that you can see the mistakes you made only after you made them but having kept a close eye on it all i'm thinking I will hang in there for the time being. If theres a sudden major climb I will likely bail out but that depends on the trends of the day.
I view myinvestment gamble as lost money so no great probs if, as many predict, the bubble bursts and I lose it all. Its no worse than a few months of lottery tickets and they have very poor odds.
Of course if a miracle happens and I become an overnight millionaire i'll come back on here and tell you what a genius I am but don't hold your breath for that one.....
Total Current Value = £147.46
The scaremongers on various forums are circling but most long term investors are just suggesting caution.
Its a strange thing that you can see the mistakes you made only after you made them but having kept a close eye on it all i'm thinking I will hang in there for the time being. If theres a sudden major climb I will likely bail out but that depends on the trends of the day.
I view my
Of course if a miracle happens and I become an overnight millionaire i'll come back on here and tell you what a genius I am but don't hold your breath for that one.....
Total Invested so far = £189.16p
13/01/18 - Bank Transfer to Coinbase £185.16 + Bank Charge of £4
Current Crypto Values
Bitcoin £77.68
Litecoin £69.78
Wednesday, 31 January 2018
3 Weeks and still dropping
So here we 3 weeks after I took the plunge and it seems all my predictions have been wrong. Bitcoin and Litecoin have followed an almost identical path downwards whereas Ethereum which, if you remember, I stayed away from because it was looking like a worse performer has actually been a lot more stable... and No I don't know why. Anyone ?
So the question is do I hold fast and wait in the hope of a recovery or pull out of Bitcoin and Litecoin and plough it all into Ethereum in the hope of at least holding onto some dignity and maybe a small climb to offset my losses?
I'm thinking that when the total value of my gamble drops to £100 I need to do something to save face but for now i'll nervously keep my nerve.
So for now I am going to ineptly sit back and hope for a miracle... or of course a lottery win 😓😓😓
Total Current Value = £126.59
So the question is do I hold fast and wait in the hope of a recovery or pull out of Bitcoin and Litecoin and plough it all into Ethereum in the hope of at least holding onto some dignity and maybe a small climb to offset my losses?
I'm thinking that when the total value of my gamble drops to £100 I need to do something to save face but for now i'll nervously keep my nerve.
So for now I am going to ineptly sit back and hope for a miracle... or of course a lottery win 😓😓😓
Total Invested so far = £189.16p
13/01/18 - Bank Transfer to Coinbase £185.16 + Bank Charge of £4
Crypto Values
Bitcoin £70.03
Litecoin £56.72
Wednesday, 24 January 2018
One week in...
Well after the first week my initial £189 investment gamble is now valued at approximately £134. While this is not good its something I can live with for the time being.
Reading all the online speculation the gloommongers are saying the bubble has burst. But others are not so gloomy so I conclude no one really knows. Its interesting that some still think Bitcoin will fly and some still have faith in Ethereum. Personally i'm not so sure and feel that my buyin was a bit rash and I should have held back but being 'Inept' I am going with perceived advice as I have no indepth knowledge myself so was gouing with the advice that the CCs would bounce back. My instinct was that it would drop further which has proved to be correct... Just goes to show !
At this point i'm not sure what they are going to do but the trend to drop seems to be across the board so i'm holding tight with the hope that at some point the market will recover taking ALL the CCs with it.
I've still not decided what to do about Ripple because I can't find a trading platform that I think I understand or that i'm comfortable with. But with the trend for all the CCs to head south i'm not too worried at the moment but if I decide to indulge I will have to act quickly if the trend starts to rise significantly.
So for now i'm holding my nerve !
Total Current Value = £137.83
Reading all the online speculation the gloommongers are saying the bubble has burst. But others are not so gloomy so I conclude no one really knows. Its interesting that some still think Bitcoin will fly and some still have faith in Ethereum. Personally i'm not so sure and feel that my buyin was a bit rash and I should have held back but being 'Inept' I am going with perceived advice as I have no indepth knowledge myself so was gouing with the advice that the CCs would bounce back. My instinct was that it would drop further which has proved to be correct... Just goes to show !
At this point i'm not sure what they are going to do but the trend to drop seems to be across the board so i'm holding tight with the hope that at some point the market will recover taking ALL the CCs with it.
I've still not decided what to do about Ripple because I can't find a trading platform that I think I understand or that i'm comfortable with. But with the trend for all the CCs to head south i'm not too worried at the moment but if I decide to indulge I will have to act quickly if the trend starts to rise significantly.
So for now i'm holding my nerve !
Total Invested so far = £189.16p
13/01/18 - Bank Transfer to Coinbase £185.16 + Bank Charge of £4
Crypto Values
Bitcoin £75.83
Litecoin £61.87
Thursday, 18 January 2018
A rough first couple of days
Well that was a rough ride. The first couple of days of my investment (or gamble as many would call it) have to say the least tested my nerve. The first thing that happened after i'd made my purchase of Bitcoin and Litecoin was they started to drop, or should that be plumet.
In my innocence i'm not entirely clear on the cause and to be honest all i've seen by way of explanation is a lot of wild speculation. But the cryptos seem to have recovered a little. The worst total for my investment that I saw was £124. So its probably a good thing that i've been otherwise engaged.
I've actually been on a driving course to retake my LGVC (HGV2) licence which I initially failed back in December '17. Driving trucks is much harder than I ever envisaged and I have been driving large vans for far more years than I care to remember. The parallel here being that trying to fathom the crypto performance is just as difficult although driving a truck is far more physical.
Your allowed to drive a truck for 8 hours with a 45 minute break half way through the shift so i'd better get a driving job soon if cryptos are going to continue this wild ride in order to keep me occupied and not sit here sweating as I watch my modest investment drop through the floor.
Just to prove that I wasn't actually hiding behind the sofa as my money evaporated away here I am proudly holding my hard won pass certificate.... :-
I'm currently researching Ripple which can't be traded on coinbase. Kraken has been mentioned as the platform to use but its nowhere near as user friendly as coinbase and I need to do a bit more work.
Cryptos are operated on a system called blockchain. Now this appears to be some sort of file handling system. The best analogy I can find is that its not so much an operating system its a bit more like Microsoft office. Blockchain is a software entity that manages or facilitates file handling and storage and thus crypto mining and trading. If i've got that wrong then please tell me and i'd also like to know if you have found a simpler system to trade Ripple than Kraken.
I had intended to transfer another few hundred quid to coinbase with the intention of buying Ethereum but for the moment will hold fire while I research a platform for buying Ripple and other newer cryptos which may be a better route to take. There are reports that Ripple is being taken up by some big corporations and banks and that Blockchain is the Windows of the future.
In the mean time whilst others are running for their lives I am going to ride out the current drop for now and hope the drop is short lived and Bitcoin and Litecoin recover at least to the value of my initial gamble investment.
Total Invested so far = £189.16p
13/01/18 - Bank Transfer to Coinbase £185.16 + Bank Charge of £4
Crypto Values
Bitcoin £83.27
Litecoin £69.69
Total Current Value = £152.96
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