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#1 Faz

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Posted 10 Oct 2017 - 08:46

Anyone here into trading in any way?

 

I've dipped my toe for the first time with pretty much no knowledge using etoro. Not playing with a huge amount of money and sticking to cardinal rule of "spend money that you can afford to forget" so only dropped a couple of thousand with no likelihood of depositing any further unless what I have skyrockets. 

 

Spread mostly among tech (adobe, Nvidia and AMD) along with some invested in etherum, bitcoin and XRP. The latter being where I am taking my biggest gamble. (just under 5000 units) 

 

Been doing a fair amount of reading into XRP and from what I can see, one of its ultimate goals is being a competitor to SWIFT, meaning mass adoption by the banking system would be what it takes for XRP to take off in a big way. 

 

More than anything Im just curious as to opinions and anyone in the know here. 

 

Thoughts?



#2 markwalker84

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Posted 10 Oct 2017 - 17:50

 "spend money that you can afford to forget" 

 

 

so only dropped a couple of thousand

 

 

Care to "forget" a couple of grand my way?!


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#3 Faz

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Posted 11 Oct 2017 - 05:51

Sure, if I can get back £12000 by December next year!!  :lol:  :lol:



#4 ChrisC

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Posted 11 Oct 2017 - 09:32

I keep on looking at buying a bit more btc but each time I do I get the "dont gamble" message pop up in my head so I throw whatever small bit of money I was going to buy BTC on the mortgage.

£100 here, £100 there... Sure I wont get the possible huge gains on the money but at the same time I know I'm clearing off the mortgage that bit quicker and the £100 is more like £150 or whatever when it's taken off the loan not the interest.


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#5 Cristian

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Posted 11 Oct 2017 - 09:36

I keep on looking at buying a bit more btc but each time I do I get the "dont gamble" message pop up in my head so I throw whatever small bit of money I was going to buy BTC on the mortgage.

£100 here, £100 there... Sure I wont get the possible huge gains on the money but at the same time I know I'm clearing off the mortgage that bit quicker and the £100 is more like £150 or whatever when it's taken off the loan not the interest.

 

In excel you can get an amortization table which can work out the effect of paying off loans early.

For reference, my newly bought mortgage of 32 years each monthly payment of £1200, £600 is paying off the loan and £600 paying off the interest (it tips towards paying only the capital near the end of the mortgage term). - So providing you still have a long way to go, that £100 could be more like paying off £200.


Edited by Cristian, 11 Oct 2017 - 09:37.


#6 ChrisC

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Posted 11 Oct 2017 - 11:02

I have a spreadsheet that does the same thing. Early days it was 100 = 200 pretty much. I remember realizing early on how much I could cut it down by with just a few over payments here and there.

 

Mortgage start: May 2009

Mortgage end: May 2044

Mortgage Period 35 years  :(

 

I then borrowed an extra 30k in August 2015 for an extension meaning it should have gone up considerably again. I wasn't happy with this.

 

My stupid over payments here and there mean I should be clear of it in Feb 2025 if I've put all the numbers in correctly - the spreadsheet tracks my mortgage statements fairly accurately so I'm quite confident I'm correct.

 

Turning a 35 year mortgage into a 16 year one wasn't something I originally planned to do when I bought the house but when I realised I could realistically be mortgage free by 40 I started doing the numbers. My last mortgage payment should be 2 weeks before my 40th birthday if everything stays exactly as it is. 

 

Seeing the first few months of the mortgage showing as £100 capital paid, £740 interest paid...  Like that for however many fucking months. Its so demoralizing. Shame I didnt have any spare cash to throw at it back then.


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#7 Faz

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Posted 11 Oct 2017 - 11:37

In the grand scheme of things its worth it. Believe me being young(ish) and mortgage free without a noose around your neck but still with a home is a massive security blanket and feels well worth it.

 

I'm actually looking at building another small 1 bedroom house on the land my house is on now. Building control is likely to be an arseache to get it done but will be worth it. London prices even with the recent drop are still bonkers. around £80-£100K build cost (the low end figure is with me doing a LOT of the work) will work out that I have another house worth around £350K (bare in mind I already own the land hence that cost is negated) and rentable around £1100 a month.

 

I guess im getting to that age where I want my money to work for me rather than buying a load of car audio... f*ck I feel old...  :rolleyes:  :mellow:  :mellow:



#8 markwalker84

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Posted 11 Oct 2017 - 12:23

Any chance of either of you with mortgage spreadsheets being able to share those?

 

Wouldn't mind plugging in my numbers and seeing where things end up?


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#9 ChrisC

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Posted 11 Oct 2017 - 12:34

For the mortgage spreadsheet grab this: http://www.locostfireblade.co.uk/spreadsheet/Index.html

 

I also think that in 7.5years when I'm mortgage free I'll be less tied to the house (less stress) and if we need to move  for any reason I wont have a problem getting another mortgage to buy something else and I could just rent out my current house or sell it as and when.  Lots of things change overtime and I'm also thinking about my parents and parents in law getting older. We're 100miles away and that wont work forever. At the moment my folks are 60 so they'll be nearer 70. The mother in law is 70 so that will mean she is nearer to 80 which not being nasty is a sort of time when shit starts to go wrong.

 

I suppose I'll also be more open for work based gambles. Currently I'm tied to what I do so I can afford to cover all the bills. Then I could take whatever job it takes to cover the normal outgoings. Also at some point in the next couple of years the missus wants to go back to work so her money will be "fun money" which will be nice.

 

Back to the crypto I think BTC is the best of the bunch at the moment. Sure there are a few out there that are good short term bets but I think btc is the best known and most adopted crypto out there at the moment and with all the talks of the big boys getting into it the price will certainly jump at least for a bit.


Edited by ChrisC, 11 Oct 2017 - 12:41.

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#10 Bass_Junkie83

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Posted 11 Oct 2017 - 12:59

What is this mythical 'spare money' you talk about?


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#11 DEVICES

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Posted 11 Oct 2017 - 13:24

I had about a gazillion Dogecoin, finally pulled my finger out my arse, exchanged them for BTC, put it all into Alphabay to buy lots of *fresh fruit and flowers", and then lost the remains when Alphabay got seized.

 

Oh and a month after I sold all the Doge, they spiked to about 7 times what I exchanged them for. :lol: Only upside was I had the Doge right from the very beginning,when they were beyond worthless.



#12 Faz

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Posted 11 Oct 2017 - 15:29

Well for my tuppence, If anyone is looking at getting into trading, I would recommend looking at Ripple. If they remain on par with expected performance from this point, general predictions are they should be around $2 a unit in q4 2018. Thats an 8 fold increase in where they are now.

 

Sounds mental? do a little research into where crypto prices have surged over the last 12 months. It is utterly bananas...

 

EDIT: for the record, my opinion is based on at least 12-18 months investment and is just my opinion based on what I have read... although I have been reading  a LOT on the subject recently.


Edited by Faz, 11 Oct 2017 - 15:43.


#13 SwitchBlade

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Posted 11 Oct 2017 - 16:38

The problem with crypto currency is that it is worthless.  It's not like gold that has uses as well as looking pretty.  Crypto currencies have no other use or inherent value.  It's initial value came from being able to trade for illegal stuff without being traced, though now after the silk road v1 got shut down it's shown that it's quite traceable through the blockchain once law enforcement start sifting the big data.  With Russia and China clamping down on it in recent months it has hindered a lot of the shady markets that crypto might be traded on.  The current value is where it is purely because of investors buying and encouraging others to buy in to inflate the price ready for them to cash out, this is more obviously apparent by the amount of spam e-mail going round pointing out what a good investment opportunity bitcoin is.  Which was the same thing they were doing when spammers were doing it with stocks to get money.  There's some people with a fair sum of money in bitcoin and I suspect that when they decide to bail and sell out the price will free-fall very very rapidly.  As pretty much all cryptocurrency is pegged by it's perceived relative value to bitcoin, when that tanks the rest will too.  I'd never recommend anyone put real money into crypto unless they are prepared to lose it all. 

 

FWIW I started mining in 2014 and have been holding coin since the collapse back then following the Mt Gox hack never expecting it to be worth anything.  The last 6 months have seen a full on hype train of dotcom proportions.  Predictions of a value of $20,000 per bitcoin by the end of the year, $100,000 the next year.  But it's all words, no substance, there's no reason for the value to rise like this beyond investors putting the price up and they will want their money out at some point and the whole thing will collapse back to where it was in 2015.


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#14 ChrisC

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Posted 11 Oct 2017 - 17:20

But money is worthless too. It's not like your £5 note has any other value other than what is printed on it. 

The only difference in that and the £50 is the colour and size. It's worth no more. Its not as if the money has any guarantee it'll be worth something.


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#15 DEVICES

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Posted 11 Oct 2017 - 17:33

Fiat currency has a value to the entire population however, and is backed by a government with regards its value.

 

A 90 year old pensioner and a 9 year old child both appreciate the value of that £5, crypto currency is becoming even more pump and dump at the moment.



#16 SwitchBlade

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Posted 11 Oct 2017 - 21:16

As Jamie says the government back your currency so it always has value the whole time we have a government.  No-one is guaranteeing anything with regards to any crypto currency.


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#17 Faz

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Posted 12 Oct 2017 - 07:07

Switch totally agree with all you have said - bar Ripple. It can't be mined and has a real world application in that it has massive reductions in international money transfer times compared to the likes of swift or any other money transfer service. Given its been adopted by over 100 financial institutions now and unlike Bitcoin which is effectively design to circumvent the global financial system, XRP is designed to work in harmony with it. They have made some super smart moves by stealing senior staff from Swift as well. The only issue I see with it is over supply, but Ripple are putting around $5billion worth of XRP into escrow with annual releases controlled by themselves in a slow and steady manner to keep control on that as far as is possible.

 

Bitcoin I cant see going over the $6000 mark for all the reasons you have stated and given its general use day to day is black market (although who knows really when it comes to that...)

 

EDIT: that said, BTC just topped an all time high of $5100 just now... so what do I know!  :lol:  :lol:


Edited by Faz, 12 Oct 2017 - 08:34.


#18 SwitchBlade

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Posted 13 Oct 2017 - 07:17

I can believe that it could go up a long way, it's being hyped hard for people to buy in.  The problem is not knowing when the big coin holders will dump their holdings and kill it.  I think it'll be a medium term game though and wouldn't be surprised if they head into the 10s of thousands before that.  Having seen BCC drop to ~10% of it's peak value in a matter of hours it highlighted to me how fast these values can change once someone starts selling quantity at a cheaper price and the snowball effect that will follow.


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#19 -Autoboy-

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Posted 14 Oct 2017 - 20:47

Modern day tulip bubble? I don't know. But BitCoin wasn't far off $6,000 earlier this week, so what do I know. It might be a bubble, but the party is still very much in the swing of things for the moment.


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#20 Faz

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Posted 15 Oct 2017 - 05:24

Modern day tulip bubble? I don't know. But BitCoin wasn't far off $6,000 earlier this week, so what do I know. It might be a bubble, but the party is still very much in the swing of things for the moment.

 

Totally. I got lucky and bought into Bitcoin after china announced the ban on it after which it dipped to $3500ish. stuck in $350 and now am 60% up on that line. Agree on the bubble though. Have put a trailing stop loss on it in case it dips again.