cryptocurrencies

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st.domingo said:
Not saying you’re wrong, but the monetary system ex-cryptos is an orders-of-magnitude larger scam that has been going on for a hell of a lot longer. Why do we even need central banks? Why are we told inflation is good and deflation is bad when the former makes ordinary savers poorer and the latter wealthier? Etc.

Now that central banks are taking about creating their own cryptos, you could say that the fix is in. After all, what despot wouldn’t like a system where absolutely every transaction is permanently recorded; where access rights can be controlled centrally and undesirables threatened with economic exclusion?

Perhaps cryptos aren’t the future, but IMO any attempt by ordinary folk to create their own money, free from bankster control is A Good Thing.

In other news, BTC looks like it could be on the move again the last few days..

:coffee:

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Scam
 
If I was to cash out now I would be up 30% on my meagre investment. That would take about 30 years to get just waiting for the interest from the bank.

I might lose it all of course but fairly comfortable with that.
 
Bitcoin is beginning to get serious backing, one of the company's Jack Dorsey is involved with has publicly stated that they have just acquired 50 million dollar worth.
This quickly follows on from Micro Stategy having to declare nigh on 500 million worth in line with S&P rules.
If other company's follow, we may have seen the end of sub $10000 bitcoin.
 
treer said:
Bitcoin is beginning to get serious backing, one of the company's Jack Dorsey is involved with has publicly stated that they have just acquired 50 million dollar worth.
This quickly follows on from Micro Stategy having to declare nigh on 500 million worth in line with S&P rules.
If other company's follow, we may have seen the end of sub $10000 bitcoin.
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Digital ponzi scheme.
 
The binman chronicles said:
If I was to cash out now I would be up 30% on my meagre investment. That would take about 30 years to get just waiting for the interest from the bank.

I might lose it all of course but fairly comfortable with that.
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I mean you don't understand investing if you think you should be up 30% from on interest from the bank ever.

Were you taught just put it in a savings account and watch it grow? If you're up that much, don't hold me to it. Take out the initial investment and let the rest go where it goes.

It's house money then
 
nikom court said:
unless you have some bills to pay,whats the point in selling?
just forget about it,long term thinking!!!
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No that's stupid. At least take out the initial investment and play with what is left over.

Bitcoin gets far more of a bad rep in my opinion because the people who invest in it are annoying as hell.

And they give terrible clueless advice like this.
 
Yank said:
I mean you don't understand investing if you think you should be up 30% from on interest from the bank ever.

Were you taught just put it in a savings account and watch it grow? If you're up that much, don't hold me to it. Take out the initial investment and let the rest go where it goes.

It's house money then
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Thanks for the advice, I think I'm OK with what I'm doing at the moment.

:coffee:
 
The binman chronicles said:
Thanks for the advice, I think I'm OK with what I'm doing at the moment.

:coffee:
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I'm happy you're up. Was just my opinion.

It's your money. Hope it goes well, I'd never root for the average binman to lose money. It's just what I've been told by people who do that stuff for a living when you're engaging in an aggressive investment strategy
 
Yank said:
I'm happy you're up. Was just my opinion.
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It just seems that you've come into this thread like a bull in a China shop, throwing words like stupid/don't understand, which believe it or not only serve to wind people up unless they hadn't thought of all the posibilities/consequences already.

So it appears you might not be following what we've said. The amount I have put in is small. Actually I had a fair bit more to start with (around £500 and my average LTC coin was up in the £90's) but as it started to go south I sold some, moved some around, made smaller gains, sold the rest to get back near as dammit to a net zero. I then left it a while and bought back in at what I considered reasonable as it was still falling and pretty much I picked mine up for just a little over the lowest value this year, meaning I have got more coins for less total cost.

The values since I last posted have dropped from mid £40's to mid £30's but seeing my buy in was at low 20's I don't care what happens here on in. At somepoint if they went up enough to sell one and that would clear the initial investment and leave me playing with house money then I might consider it, but I'm not really that bothered as I'm talking less than a couple of hundred pounds. Is that worth the potential gains? Probably not to me - unless I sink more in which I don't have any plans to at the moment.

What you say is fair enough but it's that risk vs reward and how much money you've put in, which is all on an individual case by case basis. My sub £200 that I'm not bothered about might be £2000 for someone else, once you start to care about that momey then your advice rings true. I could call mine a few nights out I missed during lockdown so I am playing with my own house money anyhow.
 
The binman chronicles said:
It just seems that you've come into this thread like a bull in a China shop, throwing words like stupid/don't understand, which believe it or not only serve to wind people up unless they hadn't thought of all the posibilities/consequences already.

So it appears you might not be following what we've said. The amount I have put in is small. Actually I had a fair bit more to start with (around £500 and my average LTC coin was up in the £90's) but as it started to go south I sold some, moved some around, made smaller gains, sold the rest to get back near as dammit to a net zero. I then left it a while and bought back in at what I considered reasonable as it was still falling and pretty much I picked mine up for just a little over the lowest value this year, meaning I have got more coins for less total cost.

The values since I last posted have dropped from mid £40's to mid £30's but seeing my buy in was at low 20's I don't care what happens here on in. At somepoint if they went up enough to sell one and that would clear the initial investment and leave me playing with house money then I might consider it, but I'm not really that bothered as I'm talking less than a couple of hundred pounds. Is that worth the potential gains? Probably not to me - unless I sink more in which I don't have any plans to at the moment.

What you say is fair enough but it's that risk vs reward and how much money you've put in, which is all on an individual case by case basis. My sub £200 that I'm not bothered about might be £2000 for someone else, once you start to care about that momey then your advice rings true. I could call mine a few nights out I missed during lockdown so I am playing with my own house money anyhow.
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Yea I'm not reading all that. I'm genuinely happy your up.

You said something about making 30% from the bank. I'll stand by you don't understand investing if you think you're ever getting that return on a savings account or even a cd these days.

As for me saying to the other guy that's stupid. It is. If it's an amount of money you don't care about as you said, that's fine. But lost money is lost money. I'd rather you get the money out you put in and then let it ride.

His think long term thing was just dumb in my opinion.

Goodluck with it. Genuinely mean that. Bull in a china shop lol whatever my guy
 
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