Nearly 2020 and crypto is still a scam lads
cryptocurrencies
- Thread starter nikom court
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Exactly this.
Modern day pyramid scheme.
nikom court
Player Valuation: £20m
thanks for the invite,bitcoin is up nearly 34% since your post,Fair play, you absolutely nailed the top there, fella lol
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Tbf, one of my mates did exactly the same thing - came on boasting about his massive gains the exact day of the high.
Perhaps the moral of this tale is that you should never boast too soon to random strangers on the internet (or even to people you have known for years, come to that).
Anyway, had a different mate ripping the first this week about all his crypto losses since then. Could this be the same effect in reverse, I am wondering?
Feel free to refer back to this post next year, should we go on another massive rip from here
ill refer back when its gone up another 34%,nice one!
st.domingo
Player Valuation: £15m
Why do you want exposure to such volatile assets though? Do you trade it using correct investment betas, financial models, and hedging strategies, or do you just throw darts at the board blindfolded hoping to hit a bullseye?
nikom court
Player Valuation: £20m
i dont trade anything,i buy and hold btc its best performing asset of the last decade.
Even when it’s betas suggest it’s deviation is off the charts? Risky business if you ask me.
nikom court
Player Valuation: £20m
technicals mean nothing in this game,
im risking nothing that im not prepared to lose.
the potential rewards are worth it.
Technicals mean everything in the investment world. To advise people otherwise is irresponsible.
Edit - further to that, buying and holding is still technically trading, as to gain profits I’m assuming that you sell your positions when an acceptable profit is achieved.
nikom court
Player Valuation: £20m
the only thing that i am advising is to do your own research,
bitcoin is only 11 years old,the traditional investment world as you put it,is part of the problem!
i am comfortable being my own bank,i dont want a crappy 0.01% isa!
I don’t work in the traditional investment world, I work in derivatives. This is why I’m saying that personal attachment to these incredibly volatile products is incredibly risky, the opening and closing spreads for bitcoin daily are massive, plus a lot of crypto stuff is done on contracts for differences. Even just buying and holding bitcoin is a risky road in regards to the chances of erasing your profits and taking on heavy losses.
to be honest mate the best time to get into it would have been years ago, selling when it boomed. Currently that price is always going to be skyrocketing and crashing on a regular basis due to the lack of proper regulation leading to massive amounts or insider trading and market abuse, like it or not regulation is necessary with instruments used for investment purposes.
witchdoc187
Player Valuation: £70m
I bought 1 bitcoin when it was $3500 it's now at $8600 more or less. Sadly I also spent hours and hours trading other crypto coins. I've now managed to end up on $624. Should have just left it alone
carlos21
KING OF REP
Hello buddy how are you doing today.
nikom court
Player Valuation: £20m
trading bitcoin (especially day trading)is very risky and is only going to end up badly,
however i use it as a savings account towards me retirement and things are going to plan,
its outperformed all my other traditional investments easily!
however i use it as a savings account towards me retirement and things are going to plan,
its outperformed all my other traditional investments easily!
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