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Hitting 1 Million - Stocks & Crypto [formerly Long Road to Millionaire Topic]

Honest reporting on shorter-term trading activity and ideas
StepOne
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Re: Hitting 1 Million - Stocks & Crypto [formerly Long Road to Millionaire Topic]

#188681

Postby StepOne » December 21st, 2018, 2:48 pm

will89 wrote: an investment in ETH placed on the date of my first post discussing the subject, March 3rd 2017, would still result in a profit of 750% if you bought then and sold today. Lost shirts are relative.


Fine, but you were still lucky. Long-term ETH in all likelihood will be worthless in my opinion. You just happened to get out before the masses realised. All the research in the world doesn't mean you weren't lucky.

Yours in jealousy,
StepOne :-)

TraderTed
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Re: Hitting 1 Million - Stocks & Crypto [formerly Long Road to Millionaire Topic]

#189111

Postby TraderTed » December 24th, 2018, 1:31 pm

Bitcoin is one of the worst of the cryptos. About all it has going for it is its notoriety.


Bitcoin is the most powerful computing network on the planet. No other cryptocoin comes close on security.
What it has going for it is that nobody can corrupt it's open ledger of account. Not hackers, not government.
Nobody needs to rely on a third party to make a transaction. No banks required.
Buy and seller can be anywhere in the world and have their transaction confirmed in 10 mins.
Nobody can do a charge back and recover the funds.

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Re: Hitting 1 Million - Stocks & Crypto [formerly Long Road to Millionaire Topic]

#189113

Postby TraderTed » December 24th, 2018, 1:38 pm

It is, but my (badly) made point was there was or is nothing stopping others from coming up with other coins, as the market has done.


The market has not stopped most countries on the planet having their own currency. It's a free market. Dogecoin has inflation built in. It will never be worth the same as a Bitcoin. No different to the Sterling(Pound) vs. Japanese Yen. You create more units they going to be worth less in comparison.

GoSeigen
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Re: Hitting 1 Million - Stocks & Crypto [formerly Long Road to Millionaire Topic]

#189257

Postby GoSeigen » December 25th, 2018, 1:23 am

TraderTed wrote:
Bitcoin is one of the worst of the cryptos. About all it has going for it is its notoriety.


Bitcoin is the most powerful computing network on the planet.

We're going to need evidence for the claim. Even if true it means nothing as it is so unbelievably inefficient that only c400,000 transactions per day are possible.
No other cryptocoin comes close on security. What it has going for it is that nobody can corrupt it's open ledger of account. Not hackers, not government.

Well, that's not unique to Bitcoin. This idea was not patented and has little value to the holder of bitcoin.
Nobody needs to rely on a third party to make a transaction.

What about the 400,001th person who wants to do a transaction today?
No banks required.

Shame, I like banks, have large equity positions in banks. Does this mean the banks will have no more use and all go bust?
Buy and seller can be anywhere in the world and have their transaction confirmed in 10 mins.

Why so long? I can do the same thing in a matter of seconds with my [bank intermediated] credit or debit cards.
Nobody can do a charge back and recover the funds.

That's a shame. How do I get my money back when a retailer has cheated me?

GS

scrumpyjack
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Re: Hitting 1 Million - Stocks & Crypto [formerly Long Road to Millionaire Topic]

#189283

Postby scrumpyjack » December 25th, 2018, 1:34 pm

As I understand it with Bitcoin, it relies on vast amounts of electricity and computing power being used to 'mine' new bitcoins and validate transactions in the process. As there is a finite pool of undiscovered bitcoins to be 'mined' it becomes increasingly expensive to find them. The huge fall in bitcoin must have made a lot of mining activity uneconomic except where the power supply is free?

This does not sound like a viable model in the long term for a crypto currency, unless I've missed something?

It is also extremely un-green (if there is such word?)

will89
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Re: Hitting 1 Million - Stocks & Crypto [formerly Long Road to Millionaire Topic]

#396068

Postby will89 » March 16th, 2021, 10:58 am

Wow. I just reread this. I was a very naïve young, but lucky moron.

It’s crazy looking back over the last 5 or 6 years of my investing ‘experience’. I really thought I knew a lot more than I did for a long time. Now at least I realise I'm not a genius...

Thanks to those of you who commented previously, I’m sure it helped inform my way of thinking. I’m now much more relaxed and simple in my investing approach, but I still hold some Bitcoin…

I presume an update would be of mild interest. Aside from the investing itself my other main hobby is endlessly tinkering with the spreadsheet I use to track those investments, so I’ve got plenty of stats handy and everything, even our BTL equity, is assiduously unitised. Here goes:

1. Since I began investing in February 2015 I’ve turned £100 invested on day 1 into as of today, £446.87.
2. My annualised return since inception is 24.5%.
3. Investment growth now makes up 58.15% of our invested assets.

Here’s how our investment assets currently look:
Image

All my 2017 excitement about crypto has paled into insignificance, but It was certainly a huge win. The chart looked pretty scary for a while but luckily drawing money out from crypto and putting it into BTL/ISAs/SIPPs later has shown how lucky I was. We've also seen a good increase in income and savings rate over time:
Image

In each account, whether ISA, GIA or SIPP I have 4 holdings. A dev world ETF (65%), an EM ETF (15%), a global small cap ETF (15%), and one single 5% ‘fun’ holding. It works for me and keeps me sane, I still need a slightly bold ‘young’ tilt! I think of our BTLs as our ‘bonds’ and feel comfortable with 100 equity across our investment accounts.

We’ve now got a great little 2 year old, so priorities have changed just a bit, still busy working and saving hard to try and keep building the snowball. It’s been a journey with plenty of twists in the space of 6 years from thinking as a maverick 20-something that I wanted an HYP, then trying to beat the market with various ITs and getting lucky with crypto, to finally trying to build something that’s more balanced, simple and enduring through ups and downs.

Pipsmum
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Re: Hitting 1 Million - Stocks & Crypto [formerly Long Road to Millionaire Topic]

#396074

Postby Pipsmum » March 16th, 2021, 11:04 am

I'm delighted that its worked for you. Maybe we all ought to have listened to our young ones. My then young son told me to buy him a bitcoin when they were £60..... and I wouldn't because he would have spent it on a virtual hat in one of those online games.

will89
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Re: Hitting 1 Million - Stocks & Crypto [formerly Long Road to Millionaire Topic]

#396079

Postby will89 » March 16th, 2021, 11:09 am

Pipsmum wrote:I'm delighted that its worked for you. Maybe we all ought to have listened to our young ones. My then young son told me to buy him a bitcoin when they were £60..... and I wouldn't because he would have spent it on a virtual hat in one of those online games.


Thank you :) It was just luck, I felt like I was doing a huge amount of research into different projects and had an 'edge' but it was really just right place right time. In retrospect I messed it up really, at one point I remember having the equivalent of around 150 Bitcoin (over £6m now) and sadly I certainly don't have a net worth approaching £6m today!
I need to sell some now but am waiting for the new tax year. I actually have huge issues with Bitcoin's energy usage, which encourages me to hold it perpetually because I don't want to send it to an exchange and in the process use the equivalent of a small country's annual energy consumption ;) The current 9% that it is sitting at is too high though so I need to do something about it soon, or just wait for it to drop...

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Re: Hitting 1 Million - Stocks & Crypto [formerly Long Road to Millionaire Topic]

#396141

Postby Adamski » March 16th, 2021, 12:59 pm

Congrats! I like the charts. Looks like you have good diversification and well thought out.

However I would be concerned about 24.5% annualised return. That would treble your money in 5 years even without putting in another penny. Do you need that much? Personally I'd perhaps consider lowering the risk/return to limit damage in a worse case/2008 scenario. But we're all different, if you can handle the volatility... Cheers

will89
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Re: Hitting 1 Million - Stocks & Crypto [formerly Long Road to Millionaire Topic]

#396151

Postby will89 » March 16th, 2021, 1:30 pm

Adamski wrote:Congrats! I like the charts. Looks like you have good diversification and well thought out.

However I would be concerned about 24.5% annualised return. That would treble your money in 5 years even without putting in another penny. Do you need that much? Personally I'd perhaps consider lowering the risk/return to limit damage in a worse case/2008 scenario. But we're all different, if you can handle the volatility... Cheers


Don't worry, the historic annualised return is certainly something that won't be repeated! It's slowly dropping over time as the timeframe lengthens, 2017 boosted my unit value by over 1000% so it pushed the average up just a bit... The current portfolio definitely isn't seeking 24% annualised returns!


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