Bitcoin / Bitcoins / Crypto Currency

Bloomberg November 2020: https://www.bloomberg.com/news/articles/2020-11-18/bitcoin-whales-ownership-concentration-is-rising-during-rally

I think the distinction from houses/watches/whatever is the price isn't kept artificially high, it's a constant boom/bust cycle with the ultimate aim of increasing your own market share?

China has a huge stake in mining, Russia is moving in and Iran and Venequela have recently announced they will move in to mining to get around sanctions. Anywhere with cheap energy. Some of the miners are public and have done really well recently, is one way to get exposure still within an ISA:
https://www.fool.com/investing/2020/12/30/bitcoin-hits-all-time-highs-causing-bitcoin-miner/

Thanks.

That makes me even more surprised that institutional investors are piling in. They tend to run as fast as they can from that sort of thing.

If anyone had a Coinbase account and wants some free Stellar Lumens, use this link
https://coinbase.com/earn/xlm/invite/3gy7xfht

how are all our initiative q's doing ? dacia sandero time yet ?

how are all our initiative q's doing ?

They aren't launching their network for another year or so.

Despite the bull run, the number of daily active BTC addresses only increased from ~700k to ~1m last year (ETH from ~200k to ~400k).

https://a16z.com/2020/12/21/five-charts-that-tell-the-story-of-2020-in-crypto/

Bitcoin jumped another grand last night, so mental. Eth is doing very well right now too

And another... Seems like a storming on the US capital inspires even less confidence in the dollar than untethered cash printing!

Coinbase and kraken both down while eth is falling through the floor 🤡

BTC +7% today. Madness. Will hit 30k Sterling next week.

Is there any downside to selling half and keeping half of my portfolio? I'd literally just be taking the profit out and leaving my stake

Only that you are selling a possible future Lambo

Depends how much you have and how much you’d like the money. I think long term you won’t lose

Is there any downside to selling half and keeping half of my portfolio? I'd literally just be taking the profit out and leaving my stake

No more so than with any other investment.
Future Lambo if silly season continues, future Hotwheels Lambo if it all goes to shit.

A quick Google suggests I can take my profit outs and buy a Lambo wiper arm assembly.

Is there any method to this?

I regret not putting in £25 in 10 years ago. Especially because I think I downloaded the mining software when it was easy to mine and then decided it seemed like a faff and didn't bother.

But I don't regret not putting in £25k a couple of years ago, because it seemed like a punt back then and it seems like a punt now.

Especially because I think I downloaded the mining software when it was easy to mine and then decided it seemed like a faff and didn't bother

I did the same, I downloaded and ran it for like 5 minutes then realised it used all my GPU and I couldn't play games while it was running, I was elbows deep in an MMO at the time, so binned it off. Massive regret now.

Massive regret now.

Except if I'd mined a few hundred I'd probably have decided it was still a faff and lost the wallet somewhere and would now be complaining about my lost 10 million pounds.

(like the guy that bought a pizza for 10,000 bitcoin)

I just did exactly this with my ETH. I'm not in lambo territory, but it's nice that I don't have much of an emotional investment in what happens to the half I have left in there....

I'd have probably sold the lot when they hit £1k each and still regret it, but it doesn't mean I'm not still kicking myself for passing it off.

Tell us how much you’ve got and we can advise you.

In all seriousness, it’s never a bad call. You can take satisfaction that you didn’t sell it all/keep it all depending on what the market does.

(like the guy that bought a pizza for 10,000 bitcoin)

Before the first reward halving in 2012 each mined block gave you 50BTC so 10,000BTC was 200 blocks worth.

At 10 minutes a block that's 33 hours worth of blocks and in the really early days (when the pizza buyer was mining) there really wasn't much mining competition, so that might have been a 800MHz PIII running in the corner of a room for a week.

It's down to 6.25BTC per block now (the last halving was in May 2020, they are designed to halve every 4 years) which decreases the reward. Either the price goes up to compenstate for the massive mining costs or people drop out of the mining game to increase the spoils for those that sit it out. It's a fascinating complex system.

(And, yes, I'm annoyed I didn't do any mining back before 2010...)

I don't have a lot! A tiny bit of BTC and a Litecoin plus a few random bits of other currencies

I'm sub 1K portfolio worth all in

I’d say sit on it if you’ve got that little unless you really need the money now.

Yeah I think you're right. I need to ignore it!

Even the people who are forecasting its growth to help jack the prices up are massively underselling it which is quite something.

I’m aware of a couple of very vile people who are getting rich(er) out of this and it’s making me yearn for a crash.