Investing, Cryptocurrency, Crypto Bros, Stonks, Bonds, Hodls, Inflation and Apocalypse.

A

albaPhenom

Joined
30 Mar 2021
Messages
450
Reaction score
72
Location
Glasgow
Country
United Kingdom
Bit of a catch all thread for the stock market, investing, cryptos and the economy/inflation.

First off for disclosure, I hold no cryptos or stocks at present but having had a spell in investing post 2008 crash, I've kept an interest in it. A couple of years back I began to notice that a lot of young people were being sold on the idea of investing and most notably in cryptocurrency. This concerned me because they were being sold on the idea during a sustained (unsustainable) bull run.

It must have seemed to a lot of these young kids, who had no previous investing experience, that this was a license to print money and given how the economy is in general, their one true shot at real wealth. This was incredibly dangerous because as investors know all to well, markets go up but they also go down and the key to this game is NEVER be over-leveraged in any one thing.

Now as the price of Bitcoin fell from $60k to its current level of $20k, these same Crypto Bro sharks have been telling these kids "buy into the dip", if they were happy to buy at $40k, then $20k is a steal, right?

Same thing Ponzi Schemes have told unwitting dupes for decades.

... and they had all sorts of impressive candlestick charts showing wavey lines to back up their claims.


Truth is 99% of these Cryptoguys on Twitter have no clue what they're doing, it's essentially big time gambling, I've seen posts from guys who have made $2.6m punts on Terra/Luna and seen it reduced to $1k.

So what do you guys think about all this stuff, are you invested in anything, do you owns stocks, funds, etc?

Are Cryptos the future of currency or a flash in the pan ponzi scheme that will be looked back in 20 years time as a few years of collective madness?
 
Sponsored Links
I know nuffink at all about all this krypto nonsense, I've put all my £money into Tulip bulbs.
 
Some people don’t invest without understanding the viability. Profit, loss, cash flow, value etc. others buy on the bubble.

There is no standard for Crypto currencies, so no guarantees that the block chain is distributed or secure.

My expectation is the value will at some point dive when a new model takes over.

Imagine buying yahoo or Napster at their peak. Both were unstoppable until the next thing came along
 
The only thing I wish about BTC (hindsight and all that) is that I'd bought ~£2k worth back in early 2017. I considered it but for whatever reason it fell off my radar so-to-speak and I didn't bother. How long I'd have ridden the wave I don't know, might have made a tidy profit, might not.

People have made fortunes from BTC, whether it can happen again, I have my doubts.
 
Sponsored Links
diy_fun_uk said:
The only thing I wish about BTC (hindsight and all that) is that I'd bought ~£2k worth back in early 2017. I considered it but for whatever reason it fell off my radar so-to-speak and I didn't bother. How long I'd have ridden the wave I don't know, might have made a tidy profit, might not.

People have made fortunes from BTC, whether it can happen again, I have my doubts.
Click to expand...

I remember being aware of Bitcoin way back in the day, when they were well under a dollar each and I remember only having a passing interest in it, thinking that it was more of a geek thing or for buying illicit stuff off the dark web. I never paid enough attention and I'm kicking myself now.

People are talking about $10,000 being the bottom but for what reason should that e the bottom, where is the inherent value in BTC?

I heard that Tesla have lost a fortune in their BTC holding, they had about $2 Billion worth originally and I remember their short spell allowing car purchases with Bitcoin ... but in that little experiment lies the problem with BTC as a useable currency imo. How does a business like Tesla deal in a currency which is so extremely volatile?

Let's say a BTC is worth $42k and coincidentally a Model 3 also costs $42k... for easiness. Tesla sells 1,000 cars for 1 BTC each and the dollar value for those are $42,000,000.

In 2 weeks time the price crashes and each BTC is worth $25k ... well, now Tesla only has $25,000,000 of revenue for their 1,000 cars.. they've lost money.

Unless I'm missing something obvious?
 
cryptocurrency has no actual value, think off a pot on the floor you throw your pound coins in
the pot gets bigger but only the first coin is worth a pound as the second is half the pot so worth 50p and so on
now as people keep throwing money in it keeps working but iff no one throws coins in it stops working
there is no actual earning so for some one to gain the money comes out of someone elses pocket
 
what ever value the person you offer it too thinks its worth ;)
 
bit coins have zero value unless someone want to buy an asset with zero securirty
without somone guaranteeing to buy at a value they have zero value a fantastic asset worth nothing without a buyer
 
Last edited by a moderator:
big-all said:
bit coins have zero value unless someone want to buy an asset with zero securirty
without somone guaranteeing to buy at a value they have zero value a fantastic asset worth nothing without a buyer
Click to expand...

Name me something that has "asset value" without a buyer?
 
big-all said:
cryptocurrency has no actual value
Click to expand...
Nothing has any value beyond what someone else thinks it does. The world thinks a Bitcoin is worth $42k, then it's worth $42k, whatever a $ is worth - and that could be anything between "nothing" and "everything"

When the zombie apocalypse comes around and there is no power, food, fuel or medical supplies I will give you this ton of gold I've been hoarding in my garage, but I'll keep my stash of baked beans

Money is simply a tool for controlling access to resources, and it only works because everyone believes it works. Money could be replaced by something else but the fundamental challenge remains; how to keep everyone from demanding everything all the time and it's conceptually simple to solve (provide for their needs) but wouldn't work at the moment (we're not mature enough to self regulate and there isn't a convenient way to provide for needs that a) everyone believes in and b) doesn't involve other, also immature, individuals)
 
Last edited:
robinbanks said:
When the zombie apocalypse comes around and there is no power, food, fuel or medical supplies I will give you this ton of gold I've been hoarding in my garage, but I'll keep my stash of baked beans
Click to expand...

Hypothetical I know, but your ton of Gold would be worth £52,500,000 today.
 
You must log in or register to reply here.
Sponsored Links
Back
Top