Crypto Currency Thread
Discussion
BTC is the closest equivalent to digital cash...
PayPal for example has the risk of chargebacks and all that.
If that’s a bonus to you then that’s another matter.
Plus payments are quite anonymous depending on your need.
BTC has many uses and potential uses but it’s appeal as a pyramid scheme along the way has fogged the matter.
PayPal for example has the risk of chargebacks and all that.
If that’s a bonus to you then that’s another matter.
Plus payments are quite anonymous depending on your need.
BTC has many uses and potential uses but it’s appeal as a pyramid scheme along the way has fogged the matter.
JPJPJP said:
Kent Border Kenny said:
There’s no harm in buying a bit to see how it works first hand, but that doesn’t mean you expect it to move in any particular direction.
I’ve a colleague who apparently has 15,000 or so, and who’s been having a nightmare actually getting from where he is now to having money in a GBP bank account.
How is your colleague these days Kenny? It must have been quite a ride for him these last few weeks?I’ve a colleague who apparently has 15,000 or so, and who’s been having a nightmare actually getting from where he is now to having money in a GBP bank account.
whatxd said:
If you bought bitcoin everyday for 10 years, you'd be in significant profit. There are plenty of people all over the world who are addicted to slots and play every day. How many of them do you think are in significant profit?
But if you'd bought in Dec17 and sold in Dec18 - you'd be in very significant loss and from 2019 until Sept 20 - it hardly moved. For those that dabble in it, they'll always try and talk it up (and as one person stated - this thread is always very quiet when BC is down or not doing anything much). Because Bitcoin is so heavily used as an "underworld currency" with anonymity, it'll never be taken seriously in the long term.
If you'd invested in property or gold over the last 10 years you'd be significantly in profit. the 2020 170% BC increase is only relative if you have hundreds of thousands in it.
If indeed BC was that amazing "investment" that was creating so many real millionaires, this thread would be full of pictures of F50's, Carrera GT's and Enzo's that you've all bought :-)
Edited by Candellara on Thursday 17th December 13:07
ts?Candellara said:
But if you'd bought in Dec17 and sold in Dec18 - you'd be in very significant loss and from 2019 until Sept 20 - it hardly moved.
If you bought HSBC in 2007 and sold in 2009, you’d have suffered a big loss and not recovered since.Or Ted Baker 3 years ago and sold not long after.
If you buy/sell anything like this at specific times then you can expect to get your fingers burnt.
Cost average purchases of 10p/week since inception and you’d be a millionaire today.
Yep, pyramid scheme, yep volatile, yep used for dodgy purposes (just like fiat).
That doesn’t change a thing now institutional investors are in it.
It’s legitimised enough now that it’s not going to go to zero overnight... it’ll just be regulated to death and milked.
dimots said:
Mr Whippy said:
It’s legitimised enough now that it’s not going to go to zero overnight... it’ll just be regulated to death and milked.
It is self regulating. You maybe miss the point of a non-reversible decentralised peer to peer currency? Back to the white paper for you!While the entries and exists are all regulated, bitcoin is regulated.
Well bitcoin exchanges are regulated and I'm fine with that. I think it's important to separate the protocol from things built using it.
Same goes for the 'pyramid scheme' allegations...bitcoin most certainly is not, it's the opposite if anything...but many scammers have run schemes feigning an association.
Same goes for the 'pyramid scheme' allegations...bitcoin most certainly is not, it's the opposite if anything...but many scammers have run schemes feigning an association.
As has been said on many other threads on this board, the depth of expertise in the PH community is immense. It is a hive mind.
I mean, right now we have some of the world's leading investment funds and banks taking a position in bitcoin: actually converting $ £ € to BTC and holding the BTC. Some of them are even going on telly and telling people that this is what they are doing. They are putting hundreds of millions of dollars of their funds into bitcoin.
This isn't being done on a whim. It is on the back of extensive research by teams of qualified, experienced and regulated money managers who make their living by investing money for profit.
But why oh why don't they just come to this thread?
They would learn, from any one page of the thread that the whole bitcoin thing is a scam. A ponzi. A criminal enterprise that will crash & burn and leave them skint.
All that effort that they had their people expend. All that reputational risk of telling their clients & their shareholders that they were going into bitcoin. All that chance of being caught up in a racket. All that likelihood of losing hundreds of millions of dollars
It could all have been avoided by spending just 5 minutes on pistonheads
I mean, right now we have some of the world's leading investment funds and banks taking a position in bitcoin: actually converting $ £ € to BTC and holding the BTC. Some of them are even going on telly and telling people that this is what they are doing. They are putting hundreds of millions of dollars of their funds into bitcoin.
This isn't being done on a whim. It is on the back of extensive research by teams of qualified, experienced and regulated money managers who make their living by investing money for profit.
But why oh why don't they just come to this thread?
They would learn, from any one page of the thread that the whole bitcoin thing is a scam. A ponzi. A criminal enterprise that will crash & burn and leave them skint.
All that effort that they had their people expend. All that reputational risk of telling their clients & their shareholders that they were going into bitcoin. All that chance of being caught up in a racket. All that likelihood of losing hundreds of millions of dollars
It could all have been avoided by spending just 5 minutes on pistonheads
JPJPJP said:
This isn't being done on a whim. It is on the back of extensive research by teams of qualified, experienced and regulated money managers who make their living by investing money for profit.
Are these the same qualified, experienced and regulated criminals / ****wits err, i mean money managers that f***d the world economy in 2008?
JPJPJP said:
As has been said on many other threads on this board, the depth of expertise in the PH community is immense. It is a hive mind.
I mean, right now we have some of the world's leading investment funds and banks taking a position in bitcoin: actually converting $ £ € to BTC and holding the BTC. Some of them are even going on telly and telling people that this is what they are doing. They are putting hundreds of millions of dollars of their funds into bitcoin.
This isn't being done on a whim. It is on the back of extensive research by teams of qualified, experienced and regulated money managers who make their living by investing money for profit.
But why oh why don't they just come to this thread?
They would learn, from any one page of the thread that the whole bitcoin thing is a scam. A ponzi. A criminal enterprise that will crash & burn and leave them skint.
All that effort that they had their people expend. All that reputational risk of telling their clients & their shareholders that they were going into bitcoin. All that chance of being caught up in a racket. All that likelihood of losing hundreds of millions of dollars
It could all have been avoided by spending just 5 minutes on pistonheads
Exactly.I mean, right now we have some of the world's leading investment funds and banks taking a position in bitcoin: actually converting $ £ € to BTC and holding the BTC. Some of them are even going on telly and telling people that this is what they are doing. They are putting hundreds of millions of dollars of their funds into bitcoin.
This isn't being done on a whim. It is on the back of extensive research by teams of qualified, experienced and regulated money managers who make their living by investing money for profit.
But why oh why don't they just come to this thread?
They would learn, from any one page of the thread that the whole bitcoin thing is a scam. A ponzi. A criminal enterprise that will crash & burn and leave them skint.
All that effort that they had their people expend. All that reputational risk of telling their clients & their shareholders that they were going into bitcoin. All that chance of being caught up in a racket. All that likelihood of losing hundreds of millions of dollars
It could all have been avoided by spending just 5 minutes on pistonheads
No institutional investors have ever been bag holders, bought into a buying frenzy, sold after a crash, or lost money for their investors.
The thing that concerns me is that the price (and by association the market cap) of ALTS rises alongside btc. I don't see the correlation, other than they can be swapped on exchanges. It just looks like a lot of money being made from nothing to me.
That's the one thing that makes me believe that there must be some inevitable crash/correction because that doesn't make sense.
That's the one thing that makes me believe that there must be some inevitable crash/correction because that doesn't make sense.
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