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