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Post by Clinton Cool on Feb 7, 2021 22:41:04 GMT
I've come to the conclusion that the future is bleak as regards 'standard' currency. Ok, the Queen may swear she will pay the bearer 5 pounds but given the current fad of printing money in order to placate the feckless, the irresponsible and their very noisy supporters that 5 pounds will swiftly be devalued by way of dilution.
So rather than just having a sum of money to last me until retirement gives me an inflated but devalued monthly payment I've decided to split this between money, gold and Bitcoin.
Can anyone recommend a supplier of Bitcoin? I'm sure the possibility of being scammed is a very real one.
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Post by Telemachus on Feb 7, 2021 23:20:17 GMT
I think you are very foolish to invest a significant amount of money in a the boiler room scam that is Bitcoin. By all means, gamble a bit for fun, but don’t put anything into it that will affect your quality of life if you lose it. Investing in Bitcoin is like investing all you money in football cards only worse - you have absolutely nothing to show for it. Gold is better because it is actually a substance, but it too is pretty high at the moment. Buy low, sell high is the mantra.
Don’t keep you money as cash under the mattress, nor as cash in a savings account. Better to invest in the stock market which is quite low at the moment. In a spread portfolio or unit trust type thing, obvs.
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Post by Deleted on Feb 8, 2021 9:07:11 GMT
Electric car maker stock. Ride the wave.
Ideal for a surfer I would have thought.
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Post by Delta9 on Feb 8, 2021 10:52:32 GMT
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Post by Deleted on Feb 8, 2021 11:27:28 GMT
I have on eye on crypto, I may chuck a few quid in just to have a play around, I don't believe though I could bring myself to invest my savings..
Scary shit.
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Post by Delta9 on Feb 8, 2021 15:36:36 GMT
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Post by Deleted on Feb 8, 2021 15:40:03 GMT
I have an app on my phone, shows me all the different crypto prices, it seems to be going up today on most.
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Post by Clinton Cool on Feb 9, 2021 18:09:01 GMT
I think you are very foolish to invest a significant amount of money in a the boiler room scam that is Bitcoin. By all means, gamble a bit for fun, but don’t put anything into it that will affect your quality of life if you lose it. Investing in Bitcoin is like investing all you money in football cards only worse - you have absolutely nothing to show for it. Gold is better because it is actually a substance, but it too is pretty high at the moment. Buy low, sell high is the mantra. Don’t keep you money as cash under the mattress, nor as cash in a savings account. Better to invest in the stock market which is quite low at the moment. In a spread portfolio or unit trust type thing, obvs. I'm thinking of keeping the majority in soon to be devalued British Pounds with just 10 Percent each in gold and krypto. Personally I think the stock market is massively overvalued, regardless of its current relatively low level. My reasoning is that the inflation is caused by quantative easing together with investment by people saving lots of money due to covid and not fancying .5 percent savings rates. Many businesses are only maintaining solvency due to the current government largesse. This will likely end soon resulting in higher levels of realism. If not, and governments continue to bail out firms with borrowed/ printed money the devaluation of government backed currencies will further accelerate. This would eventually lead to the system collapsing. |
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Post by Deleted on Feb 9, 2021 18:13:24 GMT
That's what I thought when Covid started off. There was a big drop obviously then it crept back up.
Presumably this will be followed by an even bigger drop when the big boys decide to take the retail investors money off them.
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Post by kris on Feb 11, 2021 17:21:37 GMT
So do you think it’s worth having a punt on the currencies mentioned by Elon musk? Or is it a diversionary tactic? I suppose I’m just asking do you think other currencies are worth investigating or do you think it’s best to stick to Bitcoin? |
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Post by Delta9 on Feb 12, 2021 9:59:52 GMT
So do you think it’s worth having a punt on the currencies mentioned by Elon musk? Or is it a diversionary tactic? I suppose I’m just asking do you think other currencies are worth investigating or do you think it’s best to stick to Bitcoin? Elon just tweets bollocks when he's drunk... The only coins I'd have any serious money in are bitcoin and etherium. Others are good for a gamble, but only with play money. |
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Post by Deleted on Jun 23, 2021 12:22:41 GMT
£32k mid Feb
£24k today.
Did you put any in Ricco?
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Post by kris on Jun 23, 2021 12:25:45 GMT
The crypto market does seem to have gone chaotic?
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Post by Deleted on Jun 23, 2021 12:26:56 GMT
All seem to be heading south at the minute, be an interesting few weeks if you have invested this year, more so after Feb..
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Post by Clinton Cool on Jun 23, 2021 13:10:11 GMT
£32k mid Feb £24k today. Did you put any in Ricco? It's £34.5K now. Not yet. I've been watching a lot. If it goes down to £30K I'll bung 5% of my cash into it. |
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