Crypto currencies

Has anyone here dabbled with (or still does) Crypto currencies? I currently have 2 Bitcoin which I bought for $400 each, they are currently worth $11787 each (they did peak north of 17k dollars each when I should’ve sold them!) I also have 5652 XRP which I bought for 27 cents each. They peaked at $3.50 each (again when I should’ve sold ) they today are trading at 32 cents each. I also have 60000 SVD which I bought for 1 cent each ($600) and they are worth the princely sum of $18 for the lot! Big hit that one

Anyone else?

the maoster:
Has anyone here dabbled with (or still does) Crypto currencies? I currently have 2 Bitcoin which I bought for $400 each, they are currently worth $11787 each (they did peak north of 17k dollars each when I should’ve sold them!) I also have 5652 XRP which I bought for 27 cents each. They peaked at $3.50 each (again when I should’ve sold ) they today are trading at 32 cents each. I also have 60000 SVD which I bought for 1 cent each ($600) and they are worth the princely sum of $18 for the lot! Big hit that one

Anyone else?

No wonder Beaver complains about you not getting the coffees in…

Bitcoin is back over 13,000 dollars again. Sold yet?

Ripple still going nowhere lol

Sold one Bitcoin when it hit $11000, bought another 5000 XRP at 19 cents, but as you say it’s currently going nowhere. My SVD investment is still 99% down!

This is obviously why I drive a lorry.

It sounds like shares but in a non existent industry.
Give me loads of money.I’ll let you know how much of a return you’ll get.Or you might not get any return in real terms.Or you might even lose the lot depending on what I decide to do.
A bit like shares but without all the aggro of setting up a firm and closing it.

That was a good trade then. Good plan to keep the other bitcoin and see what happens long term knowing that you are in profit whatever happens. If negative interest rates are imposed soon I can see a lot of money moving into bitcoin sending the value rocketing

The way I look at it is that I covered my initial outlay and made waaay more than I would have made in The highest interest account I could find. Anything else now is either gravy or it disappears without trace. Either way I’m ahead, so consider that I’m gambling with the houses money now.

Funny thing Bitcoin though, there’s been a flurry of activity recently accompanied by lots of positive press. At the moment it’s unregulated so is a criminals dream! There are around 200 ATM’s in the U.K. Where you can put cash in and it’s converted to Bitcoin, and hey presto you have laundered money! From a drug dealers point of view that is marvellous!

Well played Maoster, wish i’d had the nous to get in on Bitcoin when it was born.

Not sure quite what to do with my modest nest egg to be honest, have wagered a little on Trump winning a second term, so that’s him bolloxed
What’s going to be safe, is even the propertly you own safe.

Nothing in life is certain and no physical property (cash, houses etc.) is 100% safe. Only invest (gamble really) what you can afford to lose. I would always resist the temptation to borrow for the purchase of shares. My family lost a packet on Russian railway shares. Happily the above common sense rules applied to our family ancestors at that time. This was in the Czar’s days and we still have the certificates as reminders…

Dipster:
Nothing in life is certain and no physical property (cash, houses etc.) is 100% safe. Only invest (gamble really) what you can afford to lose. I would always resist the temptation to borrow for the purchase of shares. My family lost a packet on Russian railway shares. Happily the above common sense rules applied to our family ancestors at that time. This was in the Czar’s days and we still have the certificates as reminders…

A house is always somewhere to live.
Not many countries look on them as ways to make money.

Franglais:

Dipster:
Nothing in life is certain and no physical property (cash, houses etc.) is 100% safe. Only invest (gamble really) what you can afford to lose. I would always resist the temptation to borrow for the purchase of shares. My family lost a packet on Russian railway shares. Happily the above common sense rules applied to our family ancestors at that time. This was in the Czar’s days and we still have the certificates as reminders…

A house is always somewhere to live.
Not many countries look on them as ways to make money.

Yes, in general you are right.

But throughout the first world (including the UK) many have lost money on houses. I am thinking of negative equity following the banking fiasco (where many even lost the house) and, more recently, the repeated floods that some areas now seem to suffer that will have knocked house values a bit.

I am lucky enough to be one of those having had family who were able to leave me an inheritance. My viewpoint has always been that this was not a windfall to enjoy. I see it rather as a loan to benefit from in my lifetime but also to make prosper and grow to leave to my children.

But I have gone way off topic… Apologies.

Dipster:

Franglais:

Dipster:
Nothing in life is certain and no physical property (cash, houses etc.) is 100% safe. Only invest (gamble really) what you can afford to lose. I would always resist the temptation to borrow for the purchase of shares. My family lost a packet on Russian railway shares. Happily the above common sense rules applied to our family ancestors at that time. This was in the Czar’s days and we still have the certificates as reminders…

A house is always somewhere to live.
Not many countries look on them as ways to make money.

Yes, in general you are right.

But throughout the first world (including the UK) many have lost money on houses. I am thinking of negative equity following the banking fiasco (where many even lost the house) and, more recently, the repeated floods that some areas now seem to suffer that will have knocked house values a bit.

I am lucky enough to be one of those having had family who were able to leave me an inheritance. My viewpoint has always been that this was not a windfall to enjoy. I see it rather as a loan to benefit from in my lifetime but also to make prosper and grow to leave to my children.

But I have gone way off topic… Apologies.

No argument here.
Housing prices is one area where inflation is viewed by many as a good thing. Not everyone of course.
But isn’t it against TNUK etiquette to apologise for going off topic?

Franglais:

Dipster:

Franglais:

Dipster:
Nothing in life is certain and no physical property (cash, houses etc.) is 100% safe. Only invest (gamble really) what you can afford to lose. I would always resist the temptation to borrow for the purchase of shares. My family lost a packet on Russian railway shares. Happily the above common sense rules applied to our family ancestors at that time. This was in the Czar’s days and we still have the certificates as reminders…

A house is always somewhere to live.
Not many countries look on them as ways to make money.

Yes, in general you are right.

But throughout the first world (including the UK) many have lost money on houses. I am thinking of negative equity following the banking fiasco (where many even lost the house) and, more recently, the repeated floods that some areas now seem to suffer that will have knocked house values a bit.

I am lucky enough to be one of those having had family who were able to leave me an inheritance. My viewpoint has always been that this was not a windfall to enjoy. I see it rather as a loan to benefit from in my lifetime but also to make prosper and grow to leave to my children.

But I have gone way off topic… Apologies.

No argument here.
Housing prices is one area where inflation is viewed by many as a good thing. Not everyone of course.
But isn’t it against TNUK etiquette to apologise for going off topic?

Then I suppose I should apologise for my apology. Oops.

I must get 100’s of offers per month to BUY bitcoin, but I’ve yet to receive a single offer to buy any bitcoin I might already own…

I consider this entire Bitcoin thing to be a SCAM in that regard, akin to “Buying a collection of Wine” or “Boot Fair Artworks” or “Snake Oil” come to that.

Something that is not convertible into cash money at the drop of a hat - isn’t worth having in one’s poessesion, let alone spending loads of money on it.

Good luck to those who’ve found themselves with bitcoin from “nowhere” - Now would be a good time to cash it in, don’t you think?

Don’t make the same sort of mistake that my Brother made with the Dotcom shares he purchased or got gifted for pennies, only to hang onto them a bit too long, and saw his once-deep 5-figure portfolio melt down to under a grand by the time it was finished…

“I’m in it for the long term” he argued.
Telewest, Freeserve, NXT, and Thus - didn’t ever get their portfolio value back about 3 figures again.

“A long term investment opportunity - is a short-term gamble that went wrong”.

Investing is gambling. The biggest gambles return the biggest profits.
If you overly gamble on something with an unambitious profit margin - then you are not gambling, but rather throwing your money away.
Always make sure the REWARD outweighs the RISK.

Therein lies the reason why I don’t touch ANY “Ethereal” currency.
If I want a market to punt, I’ll stick to trading FTSE futures, GBP Currency Futures, or the Dow Jones Index.
Transparent markets where you always know where you’re at, and cheap in commission terms as well.

(live data, none of this “delayed 10 minutes” crap…)

Do they class the Crypto Currency as Amazon Vouchers and Google Cards, there was a story on the news where an old chap had been scammed out of £50k, he thought it was OK as he still held all the cards but had scratched the codes and sent them to his investor friend.

Winseer:
I must get 100’s of offers per month to BUY bitcoin, but I’ve yet to receive a single offer to buy any bitcoin I might already own…

I consider this entire Bitcoin thing to be a SCAM in that regard, akin to “Buying a collection of Wine” or “Boot Fair Artworks” or “Snake Oil” come to that.

Something that is not convertible into cash money at the drop of a hat - isn’t worth having in one’s poessesion, let alone spending loads of money on it.

Good luck to those who’ve found themselves with bitcoin from “nowhere” - Now would be a good time to cash it in, don’t you think?

Don’t make the same sort of mistake that my Brother made with the Dotcom shares he purchased or got gifted for pennies, only to hang onto them a bit too long, and saw his once-deep 5-figure portfolio melt down to under a grand by the time it was finished…

“I’m in it for the long term” he argued.
Telewest, Freeserve, NXT, and Thus - didn’t ever get their portfolio value back about 3 figures again.

“A long term investment opportunity - is a short-term gamble that went wrong”.

Investing is gambling. The biggest gambles return the biggest profits.
If you overly gamble on something with an unambitious profit margin - then you are not gambling, but rather throwing your money away.
Always make sure the REWARD outweighs the RISK.

Therein lies the reason why I don’t touch ANY “Ethereal” currency.
If I want a market to punt, I’ll stick to trading FTSE futures, GBP Currency Futures, or the Dow Jones Index.
Transparent markets where you always know where you’re at, and cheap in commission terms as well.
Мировые рынки: Курсы валют. Фондовые индексы. Товарные рынки. Котировки акций. Криптовалюты
(live data, none of this “delayed 10 minutes” crap…)

I would buy the bitcoin that you already own.

Bitcoin and other cryptocurrencies are easily converted into cash money. 24/7

I think that you know this already, you must be on a windup

chrisdalott:

Winseer:
I must get 100’s of offers per month to BUY bitcoin, but I’ve yet to receive a single offer to buy any bitcoin I might already own…

I consider this entire Bitcoin thing to be a SCAM in that regard, akin to “Buying a collection of Wine” or “Boot Fair Artworks” or “Snake Oil” come to that.

Something that is not convertible into cash money at the drop of a hat - isn’t worth having in one’s poessesion, let alone spending loads of money on it.

Good luck to those who’ve found themselves with bitcoin from “nowhere” - Now would be a good time to cash it in, don’t you think?

Don’t make the same sort of mistake that my Brother made with the Dotcom shares he purchased or got gifted for pennies, only to hang onto them a bit too long, and saw his once-deep 5-figure portfolio melt down to under a grand by the time it was finished…

“I’m in it for the long term” he argued.
Telewest, Freeserve, NXT, and Thus - didn’t ever get their portfolio value back about 3 figures again.

“A long term investment opportunity - is a short-term gamble that went wrong”.

Investing is gambling. The biggest gambles return the biggest profits.
If you overly gamble on something with an unambitious profit margin - then you are not gambling, but rather throwing your money away.
Always make sure the REWARD outweighs the RISK.

Therein lies the reason why I don’t touch ANY “Ethereal” currency.
If I want a market to punt, I’ll stick to trading FTSE futures, GBP Currency Futures, or the Dow Jones Index.
Transparent markets where you always know where you’re at, and cheap in commission terms as well.
Мировые рынки: Курсы валют. Фондовые индексы. Товарные рынки. Котировки акций. Криптовалюты
(live data, none of this “delayed 10 minutes” crap…)

I would buy the bitcoin that you already own.

Bitcoin and other cryptocurrencies are easily converted into cash money. 24/7

I think that you know this already, you must be on a windup

SOME cryptocurrencies are easily converted into cash, it’s true.

No one has offered cash, or a place cash banknotes can be gotten for spending one’s bitcoin.
There’s plenty of places that’ll take bitcoin as payment for stuff, especially on-line BUT how can you trust a system where possession is nine tenths of the law, you have say, 3.2 bitcoin and want to buy a car, present your electronic wallet, at which point all 3.2 bitcoins are erased and taken, leaving you with “no change given” for that car that maybe cost half that amount in real money…

I trust the debit card system, as you cannot spend what you don’t have, no money can be taken that is not actually there.
I don’t trust the voting system, because bits of paper and card can be doctored, stolen, sent to the wrong place, or substitued.

Future voting could and should be done by pressing an option to vote at the ATM that you had to put your PIN in to get that far… You vote once and that vote is spent, and cannot be used by someone else.
Anyone who could get to your voting screen - isn’t going to bother stealing your vote, they’ll just draw out the max cash withdrawal, and disappear instead.

More people have ATM cards than vote, so what’s not-to-like there?
The same could be done with Ethereal currencies: Make transactions avilable via existing ATMS, and permit bank clearing to convert them freely into cash credits on real bank accounts…

Until and unless that happens - I won’t be touching it.

Don’t be silly, of course you can exchange bitcoin for cash.

And I’ve just offered you cash so that’s not no one

And it’s quite shocking for you to trust banks with the voting system after what happened in 2008. Must be trolling. Modern day banks are entirely corrupt

chrisdalott:
Don’t be silly, of course you can exchange bitcoin for cash.

And I’ve just offered you cash so that’s not no one

And it’s quite shocking for you to trust banks with the voting system after what happened in 2008. Must be trolling. Modern day banks are entirely corrupt

The reason that we should trust the banking clearing system, is that EVERYTHING has an electronic trail then.

If we get told Biden got 77m votes, then it would be possible to print the accounts that made those votes, for instance - rather than around a third of them being made up out of thin air, and not connected to real, legal, living people, and impossible to prove “Fraudulent” because they are ANONYMOUS votes!!

“Money in Bank Accounts” is NOT Anonymous… I don’t trust Banks any more than you do, but I do trust the IT holding up under scutiny.

2008 didn’t happen because the “system” didn’t work… It happened because the Banks over-exposed themselves to sub-prime lending, and STILL ARE!!!

All the “Good” loan deals - have long since dried up, you know the ones you used to qualify for a good mortgage because one had a good credit rating?

Nowadays anyone can get a loan, as long as you paid the front-loaded interest and fees added…
Anyone can get a mortgage - as long as they’ve got a 50% deposit.

A person with bad credit cannot get 0% Car finance any more though, nor can anyone get a lifetime base rate tracker mortgage - no matter HOW good their credit rating is…