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Cryptocurrency mega-thread

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ash_1050 said:
Congrats, what are you up percentage wise over the last 4 months?
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Prob 30% give or take. Only because of the adding.. otherwise be down I’d say from peak. Huge gains from November til then as we know. Huge dip. Bought up more dot link icp. Had strong holds in link dot already. Just added. ICP couldn’t resist after such a crash.
Wrx I sold earlier made big. ETC still holding even though it crashed hard but bought bottom last year and still 10x on it now. Was 20x at peak.
But important 6 months coming up. I’m relying the second leg bull run and if I pull it off insane. I will sell 80% if that happens otherwise I’m just gonna keep holding and adding if all turns to shit and wait patiently for years like I do anyway.
 
ash_1050 said:
BTC back above US$47k. Coupled with the last couple of weeks of solid price support means I'm moving away from my short term bearish sentiment towards a neutral sentiment. Won't be buying just yet, but wouldn't be selling any holdings just yet either as it could break either way.
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The bulls’ bandwagon still has plenty of room mate! 😛
 

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cotter101 said:
I brought a little during that huge dip but aside from that have held the way through and close enough to where I was pretty dip.
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I'm well up on all my holdings now besides DOT. With the parachain auctions coming within the next few weeks, I think DOT will get its run then. Still lagging behind the recovery of the top alts so far.
 
I sold all my LUNA 😔

But on the plus side my ADA, DOT are looking alright.

I only bought crypto as a bit of fun so don't mind missing out on huge gains. My end goal is to make enough profit for a PS5 then just leave whatever is left to gain 😅 has been a tough slog entering the market when everything was basically at ATH's.
 
Evolved1 said:
Could still be a bull trap. Dunno, don't care tbh.

Either way it's good to see people making money. Don't forget to take profits ladies and gents.
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No profit taking here. Unless one of the coins go 20x or more. Then have to take. Wait for crash then buy in again. I have to play. Money means nothing. I’ve got enough to live so what the difference. I’m going all out hoping we have a blow off top.
 
maryjames said:
No profit taking here. Unless one of the coins go 20x or more. Then have to take. Wait for crash then buy in again. I have to play. Money means nothing. I’ve got enough to live so what the difference. I’m going all out hoping we have a blow off top.
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Someone sold at 29k looking to buy in lower. We'll dump when they buy again.
 
maryjames said:
No profit taking here. Unless one of the coins go 20x or more. Then have to take. Wait for crash then buy in again. I have to play. Money means nothing. I’ve got enough to live so what the difference. I’m going all out hoping we have a blow off top.
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If you don’t feel comfortable answering that’s ok, but do you still work for a living or has crypto meant you’re free to make your own financial decisions and not have to work?
 

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I'm financially free due to a mix of smart investing in my youth and some dumb luck from being in the right place at the right time. Most of that is because of property, not shitcoins. I still work 40 hours/week because I like the safeguard just in case my investment in internet beans doesn't work out. I also funnel profits from crypto into shares.

I wouldn't advise quitting your job unless you can trade well enough over 12 months (both ways) to make up for your loss in regular income.

It's far easier to throw $1000 than $100,000 into a shitcoin. Your $1000 gamble may not play out as well when you're using big money.
 
Evolved1 said:
I'm financially free due to a mix of smart investing in my youth and some dumb luck from being in the right place at the right time. Most of that is because of property, not shitcoins. I still work 40 hours/week because I like the safeguard just in case my investment in internet beans doesn't work out. I also funnel profits from crypto into shares.

I wouldn't advise quitting your job unless you can trade well enough over 12 months (both ways) to make up for your loss in regular income.

It's far easier to throw $1000 than $100,000 into a shitcoin. Your $1000 gamble may not play out as well when you're using big money.
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Thanks for the perspective. My plan is to cut back to 3-4 days a week in the short term, and eventually leave altogether. I had a chat with my manager recently to let them know that I’m looking to take a couple of weeks off in the near future to evaluate whether I could eventually do investing (including real estate) on a more permanent basis, or I get bored and decide that a balance between both works better. I’ve got a very understanding manager though and am lucky that they support whichever path I decide on. I have found the motivation in my current career waning a lot recently, especially as it’s never been a passion and is just what I fell into after high school and Uni and making a big decision at 18-21 years old. The crypto and real estate space is genuinely something I find interesting and wanting to spend more time researching and learning about.
 
ADA only 10% off it’s ATH and Hoskinson announced this morning that September 12 is the date for smart contracts to launch on the main net. They’ve already launched on the test net and are doing well so far. I know he has mentioned dates in the past, but this does seem a lot more definitive given they’re at the last stage of testing.
 
BACCS said:
Thanks for the perspective. My plan is to cut back to 3-4 days a week in the short term, and eventually leave altogether. I had a chat with my manager recently to let them know that I’m looking to take a couple of weeks off in the near future to evaluate whether I could eventually do investing (including real estate) on a more permanent basis, or I get bored and decide that a balance between both works better. I’ve got a very understanding manager though and am lucky that they support whichever path I decide on. I have found the motivation in my current career waning a lot recently, especially as it’s never been a passion and is just what I fell into after high school and Uni and making a big decision at 18-21 years old. The crypto and real estate space is genuinely something I find interesting and wanting to spend more time researching and learning about.
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That's a good plan. Keep reading everything you can get your hands on. Educate yourself and ween yourself off the rat race.

It's all the better if you can do it slowly. Reduce days at your job incrementally while you learn how to trade.
 

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Chris25 said:
If we’re talking trading and making a living out of it, how did people go with their tax returns? My investments were small enough that I just did the calculations myself, I think mostly right.
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I use the Crypto Tax Calculator website (Australian site). Have found their platform very easy to use and just requires uploading csv files from whatever exchange you’re using. Also a good place to track your overall portfolio.
 
Evolved1 said:
That's a good plan. Keep reading everything you can get your hands on. Educate yourself and ween yourself off the rat race.

It's all the better if you can do it slowly. Reduce days at your job incrementally while you learn how to trade.
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The only reason I’ve worked for so long is that I didn’t think there was other options out there that could sustain me for long enough. Once I finally started doing the proper research I learnt I was very misinformed. I do understand the volatility of investing though and that’s why I won’t completely leave my career until I’m well and truly financially stable. With real estate, do you recommend paying off your mortgage any quicker than the minimum repayments, especially if it’s a rental? I’ve had a house since 2017 and have never bothered to pay above the minimum, and want to buy another in the next year or so and rent the current one out.
 
BACCS said:
The only reason I’ve worked for so long is that I didn’t think there was other options out there that could sustain me for long enough. Once I finally started doing the proper research I learnt I was very misinformed. I do understand the volatility of investing though and that’s why I won’t completely leave my career until I’m well and truly financially stable. With real estate, do you recommend paying off your mortgage any quicker than the minimum repayments, especially if it’s a rental? I’ve had a house since 2017 and have never bothered to pay above the minimum, and want to buy another in the next year or so and rent the current one out.
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I have no formal education in finance. Personally, I think it's wise to pay off your personal home mortgage as quickly as you can. Others may be able to offer advice about rental properties. I only ever paid the loan interest on mine.
 
Im hearing this term 'take profits'.
I havent been doing this.
Im guessing it is taking out the money you have gained and leaving in the amount you have deposited etc.

How do you know when to take profits? Is it a matter of analysis and timing the market?
My strategy is basically just DCA long term so should I even worry about this 'taking profits?'

I can see the benefits from it, such as taking your profits that you can then use in the future to buy more if there is a dip. So I kind of want to wrap my head around it.
 

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