Bitcoin / other crypto trading

General Chat
#1

Anyone got any informed option on this?

My B in L lectured me over Christmas about how much money people had made on the massive uplift in value of Bitcoin and chain link (or something like that).
He is adamant the latter is backed by big business and has blue chip investors.

I know all about the risks of of trading, and the usual don’t gamble what you can’t lose… etc.

Looking to see if anyone with a financial perspective has any informed comment that goes beyond armchair speculation. The profits are certainly better than the interest rate in my isa. I have about 20k to mess with.

#2

Bitcoin has no intrinsic value, So it’s basically gambling, driven by hype.

Only use money for it that you can afford to lose.

Also look at the historic curve for Bitcoin, it looks ripe for a crash in value in the near future.

4 Likes
#3

It’s at an all time high. The opportunity was back at $9k.

#4

If only eh!!!

#5

Best get in quick. :clown_face:

#6

Buy watches
Or cocaine

My friend won’t shut up about crypto. I like to annoy him by not being interested in the slightest. It’s only worth whatever it’s worth once you pull it out.

#7

@AmDismal Has his own cryptocurrency, raspberry flavoured of course

#8

If you don’t even know the name of things, really don’t invest in them.

Bitcoin is a convenient way to buy drugs or to fleece unknowing investors. Blockchain is a solution looking for a problem that it could make money from.

You may make a lot of money from investing in these, but it’s more likely that you will lose a substantial part of what you invest.

2 Likes
#9

Lol, there have been many opportunities. I’m sure there’ll be more.

#10

Touch, bargepole and wouldn’t all figure in my reply.

I’m sure you can rearrange and fill in the gaps

2 Likes
#11

I’ll just keep betting against Liverpool.:smiling_imp:

2 Likes
#12

Chainlink is the other one.
Seems to have some credibility.

#13

Never trust an IT company that calls a fundamental part of their solution “oracles”. That’s so not wise.

#14

Some people really need reinforcement for their actions from others

Truth still needs verification…

Personally I would consider a range of different investment options rather than going for something that looks too good to be true. Do you have an IFA/ wealth manager who can give you some real world rather than ‘gold-rush’ speculation advice?

#15

If you don’t need it, give it away.

2 Likes
#16

Marty Byrd was too busy to take my calls.

I get the scepticism, but the short term gains are there. Nothing I have seen suggests there are genuine threats to it, and not a huge amount of the above is much more than instinctive advice?

#17

Given all your eco efforts, you may want to look at what underpins Bitcoin - namely totally unnecessary burning of huge quantities of electricity to do useless calculations on big computers. ie direct fucking of the environment to calculate a number that, somehow, is worth actual money.

It’s a massive fucking scam. Yes people will make money - madoff did alright too - but unless you want to buy drugs or guns there are far far better options for ‘investment’

#18

This is just about money. Nothing I do or don’t will alter any eco advantage. I don’t have any principles that would prevent investment in this.

What other investments offer the potential gains?
I can happily create a balanced portfolio, but I’m looking to take risk to make more.

#19

Since you clearly just want people to say go for it, then go for it - stick all your money into it*.

Good luck.

*This does not constitute any kind of financial advice and no liability is accepted.

4 Likes
#20

Buy high, sell low.

You’re welcome :+1:

1 Like