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Post by Clinton Cool on Jan 9, 2021 18:40:52 GMT
Anyone in on this?
I'm thinking of putting 10-15 percent of my savings in. My reasoning? Anything involving pounds, dollars or any other 'official' currency is being devalued and will most likely continue to be so by 'quantative easing', the printing of money in order to enable handouts etc., when there's no money left. The amount of Bitcoin that exists is fixed, it can't be increased so, natural volatility of price apart, it should hold its value.
I know that Bitcoin tends to be the domain of youngsters rather than the typical old fart on here, but anyone?
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Post by Telemachus on Jan 9, 2021 18:41:32 GMT
It is extremely high at the moment. As Warren Buffet will tell you, buy low sell high.
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Post by peterboat on Jan 9, 2021 19:44:54 GMT
Anyone in on this? I'm thinking of putting 10-15 percent of my savings in. My reasoning? Anything involving pounds, dollars or any other 'official' currency is being devalued and will most likely continue to be so by 'quantative easing', the printing of money in order to enable handouts etc., when there's no money left. The amount of Bitcoin that exists is fixed, it can't be increased so, natural volatility of price apart, it should hold its value. I know that Bitcoin tends to be the domain of youngsters rather than the typical old fart on here, but anyone? I thought you mined them? a process where you made them so to speak? I think I will stay with what I have boat, savings and stuff I can enjoy, I have heard of bitcoin being misappropriated in the past and the Chinese government confiscating them
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Deleted
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Bitcoin
Jan 9, 2021 19:47:12 GMT
via mobile
Post by Deleted on Jan 9, 2021 19:47:12 GMT
Gold would probably be a better bet if you have somewhere to vault it. ETA I think Delta9 is a bitcoin milliner or was he sucked into it at the wrong time.
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Post by lollygagger on Jan 9, 2021 21:24:17 GMT
I considered £50k Tessla shares last Feb, I really really really really really fooked up there. I'd have been minted.
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Post by Telemachus on Jan 9, 2021 21:37:12 GMT
I considered £50k Tessla shares last Feb, I really really really really really fooked up there. I'd have been minted. It’s always very easy to make money with hindsight! Oh and anyway, you’d have lost the lot because it’s Tesla. Tessla shares were being sold by a Nigerian Prince.
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Bitcoin
Jan 9, 2021 22:03:21 GMT
via mobile
Post by ianali on Jan 9, 2021 22:03:21 GMT
Talking of money, the £ today is 1.10€. May 2016 it was 1.40. If we were in England we could be having a really cheap holiday! That’s the Brexit effect.
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Bitcoin
Jan 9, 2021 22:04:43 GMT
via mobile
Post by ianali on Jan 9, 2021 22:04:43 GMT
I have some bitcoins. Doing very nicely. Wouldn’t buy them at the moment though.
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Post by Clinton Cool on Jan 9, 2021 23:42:08 GMT
Gold would probably be a better bet if you have somewhere to vault it. ETA I think Delta9 is a bitcoin milliner or was he sucked into it at the wrong time. There's always somewhere safe to hide something, with a bit of creative thinking. The problem with gold is that it's availability has been ramped up beyond the rarity that gives it its value by the modern concept of 'virtual gold'. The appeal of Bitcoin to me is that, at the moment at least, it's beyond the clutches of the governments of developed countries, most of which seem to be hell bent on creating the race to the bottom where all but the elite are constricted in order to carry out increasingly popular (populist) socialist style policies. I've no desire to become rich. All I want to do is try to ensure that the money I have, which looks sufficient at the moment, isn't whittled down with by various socialist policies to the extent that it's no lo longer sufficient.
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Post by Andyberg on Jan 10, 2021 14:42:13 GMT
Unfortunately, You missed the best investment opportunity in recent years by 6 months. Was clear for all to see, 9.51% increase on my investment as of todays value! 👍 Probably one of the greatest investment opportunities in our lifetime, which is what I'm currently doing with my pension pot after discussion with my F.A. The 2003 techbubble burst / 2008 banking fiasco had nothing on this unprecedented drop!
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Post by Deleted on Jan 11, 2021 10:01:52 GMT
I considered £50k Tessla shares last Feb, I really really really really really fooked up there. I'd have been minted. Similarly I was looking at NIO stock when it was $2 only back in October 2019. Ten grand burning a hole in my pocket but I didn't jump. NIO now nearly $60. What a ride that would have been !!
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Post by Deleted on Jan 11, 2021 10:06:32 GMT
That's like reading the racing results and dreaming about IF you'd backed the winner.
Rog
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Post by Telemachus on Jan 11, 2021 10:14:03 GMT
In my opinion, putting money into Bitcoin is foolish as a long term strategy. Of course people can make money in the short term - they are making money by taking it from other more stupid people who buy high. But there is no intrinsic value in Bitcoin. You might just as well invest in football cards or some other such inherently valueless thing. The only reason why Bitcoin has any value is a type of mass hysteria. The history of the world’s finances is full of valueless bubbles that eventually burst.
By contrast investing in stocks at least means you are investing in some sort of concrete asset. Yes of course a company can go bust rendering its stock valueless, but most of the time this doesn’t happen.
And it’s worth mentioning that Bitcoin is subject to fraud and is not regulated in any way so if your investment goes tits up, that’s tough.
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Post by ianali on Jan 11, 2021 10:32:45 GMT
In my opinion, putting money into Bitcoin is foolish as a long term strategy. Of course people can make money in the short term - they are making money by taking it from other more stupid people who buy high. But there is no intrinsic value in Bitcoin. You might just as well invest in football cards or some other such inherently valueless thing. The only reason why Bitcoin has any value is a type of mass hysteria. The history of the world’s finances is full of valueless bubbles that eventually burst. By contrast investing in stocks at least means you are investing in some sort of concrete asset. Yes of course a company can go bust rendering its stock valueless, but most of the time this doesn’t happen. And it’s worth mentioning that Bitcoin is subject to fraud and is not regulated in any way so if your investment goes tits up, that’s tough. Whilst I don’t disagree with what you say, I did watch the Martin Lewis money show recently, when he was asked about bitcoin, he didn’t say avoid at all costs. He did say it’s a gamble(like many investments) so don’t invest what you can’t afford to lose. As I said previously, I have some, more out of curiosity than expectation.
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Post by Deleted on Jan 11, 2021 10:33:44 GMT
Looks like a Ponzi scheme except it seems to be legal.
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