Bitcoin / Crypto-Currency thread

Morpeth_Edgar

A none cap wonder
I got a free tenners worth of bitcoin with a leaflet that came with a copy of Viz. Went up within days to £12.30 and now it’s at £6.23.

It’s been a rollercoaster and the regrets are huge. If only I’d got out early I could be looking at the eye level shelf of wine in Morrisons.
 

Project Zeus

Stuart Pearce
I have about a month's wages in several cryptos, mostly Bitcoin and Ethereum. Currently down by -67%

It moves in cycles and sadly I happened to get in to it at the high point of the last one.

It's recovered from 90%+ crashes several times before, and I'd bet on it coming back again, but crypto has never had to survive in an economic crisis before.

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MaxiRobriguez

Bob McKinlay
As I've posted about crypto's in the finance thread before, I'm overall skeptical about them as an asset class. They don't generate a return apart from what other people are willing to pay you for it, so as an investment it acts more like a precious metal than anything else.

Lots of cryptobro's have held onto the mantra of crypto being a hedge against inflation/currency devaluation but that is being blown out of the water at the moment what with the asset class performing the worst out of anything you can invest in.

So for those who are looking at crypto losses as a potential entry point, let me remind you again:

- It does not generate a return like stocks/equity can do from business activity.
- It is not a stable currency that you can actually use.
- It is completely unregulated.
- It does not act as a hedge against inflation.

Stick to <5% of your portfolio in crypto at most. The closer to 0%, the better. My base case scenario is 99% of crypto's will fail over time, including bitcoin which will get regulated out of existence due to it's impact on the environment if nothing else. A handful of future crypto will eventually be used, likely created by governments/central banks, none of which will have any real investment case, it'll simply be like holding money in a savings account.
 

Rzar

Ian Bowyer
I honestly think the way people look at crypto in the last year has changed massively and the market has probably followed that.

But that's just my gut feeling.
 

Dogtits

#1 Forest fan in NA
What are we saying lads, invest into eth and btc when the market finally shits itself? I got some money to waste + i has to go back to some sort of height, RIGHT?
 

Tiff

Matchday Squad
As I've posted about crypto's in the finance thread before, I'm overall skeptical about them as an asset class. They don't generate a return apart from what other people are willing to pay you for it, so as an investment it acts more like a precious metal than anything else.

Lots of cryptobro's have held onto the mantra of crypto being a hedge against inflation/currency devaluation but that is being blown out of the water at the moment what with the asset class performing the worst out of anything you can invest in.

So for those who are looking at crypto losses as a potential entry point, let me remind you again:

- It does not generate a return like stocks/equity can do from business activity.
- It is not a stable currency that you can actually use.
- It is completely unregulated.
- It does not act as a hedge against inflation.

Stick to central banks, none of which will have any real investment case, it'll simply be like holding money in a savings account.

A gentle reminder that if anyone had bought only £1000 Bitcoin when Robbie looked at $8 and sold at the peak they would be sitting on 8 million pounds.


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MaxiRobriguez

Bob McKinlay
A gentle reminder that if anyone had bought only £1000 Bitcoin when Robbie looked at $8 and sold at the peak they would be sitting on 8 million pounds.


Sent from my iPhone using Tapatalk

:ROFLMAO:

I was neutral on Crypto until about 2017 after which I turned skeptical, so actually if you bought at the bottom after I started warning against and sold at the top your £1,000 would be a paltry £18,000, which is hardly worth getting out of bed for. ;)
 
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