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Manchester33 said:
Yeah if I'm not mistaken the poster I was referring too usually comes on this thread to talk about how crypto is the best investment vehicle (using strange and indirect stock market analysis to reinforce their view).

Admittedly, there are people who've gambled on crypto successfully - far, far more who've lost money but hey ho, that's gambling for you.

You'd do very well to find sensible, level headed people who've lost money on index funds over the course of two decades though.
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Take your point but if you invest in Bitcoin (and there’s better coins to invest in through crypto) you’re not going to lose out long term. Admittedly with there now being thousands of crypto coins there are plenty of shite ones too.
 
Craig said:
Take your point but if you invest in Bitcoin (and there’s better coins to invest in through crypto) you’re not going to lose out long term. Admittedly with there now being thousands of crypto coins there are plenty of shite ones too.
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I think there's risk in investing in any one asset/commodity/business. It's true that there's a good chance you won't lose money in the long run if you invest in bitcoin, a house, Amazon etc... but it will make you more susceptible to one thing going wrong and ruining your portfolio.

Index funds are the way forward. If there was an index fund containing the top 5k cryptocurrencies that would be a better investment than just bitcoin. But to me personally, I see crypto as more of a commodity - you're buying it in the hope that someone else will consider it more valuable in the future - traditional shares in real businesses are more tangible and reflect an organisation whose core aim is trying to add value or pay dividends.
 
Craig said:
if you invest in Bitcoin (and there’s better coins to invest in through crypto) you’re not going to lose out long term.
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There is nothing to back that up. Crypto could disappear as quickly as it started. It has a fundamental flaw that investors can only make money from the inflow from new investors. It is 100% reliant on its own hype. At best its value could become stable.
 
Manchester33 said:
I think there's risk in investing in any one asset/commodity/business. It's true that there's a good chance you won't lose money in the long run if you invest in bitcoin, a house, Amazon etc... but it will make you more susceptible to one thing going wrong and ruining your portfolio.

Index funds are the way forward. If there was an index fund containing the top 5k cryptocurrencies that would be a better investment than just bitcoin. But to me personally, I see crypto as more of a commodity - you're buying it in the hope that someone else will consider it more valuable in the future - traditional shares in real businesses are more tangible and reflect an organisation whose core aim is trying to add value or pay dividends.
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Bitcoin can be a good investment but that's only true come the day you sell it. That whole statement completely defeats the point of why bitcoin exists. It's not meant to exist as a commodity investment to one day be sold for £. Bitcoin was meant to be a payment alternative and the failure of that is why one day it will collapse. I'd say that less than 1% of people holding bitcoin are doing it to use it for its intended purpose, that's the definition of a bubble.

Another problem with crypto generally is despite the popularity they're still exchanged via very shady and dodgy unregulated exchange platforms. If prices fall then these platforms could disappear overnight or they could even quite simply prevent you from exchanging and then suddenly you have an asset that you can't even sell.

I've used Binance which is one of the most popular exchanges yet sometimes they block you from withdrawing to cash and sometimes you can't even log in... As it stands I'm blocked from withdrawing because I need to verify my identity again but I can still buy as much bitcoin as I want (thankfully I haven't). It's just incredibly risky to be honest and you have to accept that at all times you're taking your chances.
 
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@inbetween , you could withdraw the bitcoin to your own wallet, the new verification rule is to apply with measures drawn up with the UK authorities within the last 6 weeks
 
Gaudion M said:
There is nothing to back that up. Crypto could disappear as quickly as it started. It has a fundamental flaw that investors can only make money from the inflow from new investors. It is 100% reliant on its own hype. At best its value could become stable.
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Crypto won’t be disappearing as more institutional money is being invested into it. Countries are looking to adopt it as currency so it can no longer be considered worthless in real world terms.

People referring to crypto as being shady, whilst that’s true to an extent it’s also quite amusing given what the bankers and governments are capable of.

Bitcoin as a currency makes little sense in fairness due to its volatile nature. That’s where stable coins are starting to kick in. It’s these stable coins that the banks are shit scared of due to them offering 10% interest and more in some cases. The banks have had it too easy for years. Essentially, committing elaborate fraud with people’s hard earned money.
 
inbetween said:
Bitcoin can be a good investment but that's only true come the day you sell it. That whole statement completely defeats the point of why bitcoin exists. It's not meant to exist as a commodity investment to one day be sold for £. Bitcoin was meant to be a payment alternative and the failure of that is why one day it will collapse. I'd say that less than 1% of people holding bitcoin are doing it to use it for its intended purpose, that's the definition of a bubble.

Another problem with crypto generally is despite the popularity they're still exchanged via very shady and dodgy unregulated exchange platforms. If prices fall then these platforms could disappear overnight or they could even quite simply prevent you from exchanging and then suddenly you have an asset that you can't even sell.

I've used Binance which is one of the most popular exchanges yet sometimes they block you from withdrawing to cash and sometimes you can't even log in... As it stands I'm blocked from withdrawing because I need to verify my identity again but I can still buy as much bitcoin as I want (thankfully I haven't). It's just incredibly risky to be honest and you have to accept that at all times you're taking your chances.
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How do you feel about Greyscale’s Bitcoin Trust (GBTC) and their Ethereum Trust (ETHE)?

I have about £50K in there that I plan on leaving for as long as foreseeable.
 
Craig said:
It’s these stable coins that the banks are shit scared of due to them offering 10% interest and more in some cases. The banks have had it too easy for years. Essentially, committing elaborate fraud with people’s hard earned money.
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As someone who works in banking I can tell you that this is fundementakky untrue. Banks are interested in the technology, but not the 'assets'. Crypto paying out 10% in interest (wile being 'stable') is 100% a scam. You have to ask yourself how do they generate the income to pay out at this level. If it starts to look and smell like BS that is because it is.
 
Gaudion M said:
As someone who works in banking I can tell you that this is fundementakky untrue. Banks are interested in the technology, but not the 'assets'. Crypto paying out 10% in interest (wile being 'stable') is 100% a scam. You have to ask yourself how do they generate the income to pay out at this level. If it starts to look and smell like BS that is because it is.
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As a banker I’m sure you’d love everyone to agree with that. Unfortunately they don’t and more and more people are starting to realise they’re being robbed blind by banks. Funny how banks used to pay decent interest before getting even greedier.
 
Craig said:
As a banker I’m sure you’d love everyone to agree with that. Unfortunately they don’t and more and more people are starting to realise they’re being robbed blind by banks. Funny how banks used to pay decent interest before getting even greedier.
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Good luck with your crypto investments.
 
Craig said:
As a banker I’m sure you’d love everyone to agree with that. Unfortunately they don’t and more and more people are starting to realise they’re being robbed blind by banks. Funny how banks used to pay decent interest before getting even greedier.
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They are not charging much interest either are they? Wonder why?
 
Some advice required please. Many (blue) moons ago I received windfall shares from a well known high street bank. Due to a combination of stupidity and laziness I neglected to cash them in when they were actually worth something. Due to various reasons, their value has significantly deteriorated over the years and responsibility for their administration now lies with a share dealing company who are charging me an annual fee for simply sitting on them. Can anyone with experience in this field offer some advice as to what I should do? Should I just cut my losses and sell or is it worth a punt on the markets and, if so, can someone recommend either a particular share or an asset management product? I should add that their value is now in the hundreds.
 
I find myself in a fortunate position where I am now able to put a good amount away each month into investments. I have recently paid off my Mortgage and outstanding debts so have around £1000 a month available.

I have seen my Vanguard account drop by around 10% in the last 3 weeks and have seen my pension drop by around 8%.

I was going to split the money between the two but now think I may be better holding the cash while the markets continue to drop.
 
abu13 said:
I find myself in a fortunate position where I am now able to put a good amount away each month into investments. I have recently paid off my Mortgage and outstanding debts so have around £1000 a month available.

I have seen my Vanguard account drop by around 10% in the last 3 weeks and have seen my pension drop by around 8%.

I was going to split the money between the two but now think I may be better holding the cash while the markets continue to drop.
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You can start to “average in” right now, while share prices are correcting/adjusting/repricing.

Cash: Interest minus inflation is currently a negative number, so you are losing money on that with no upside potential for the foreseeable future.

Grab yourself a low cost, large, tech-heavy ETF if you’ve no other investment ideas. MGK is a US one, but there may be something similar available over there.
 
Gaudion M said:
There is nothing to back that up. Crypto could disappear as quickly as it started. It has a fundamental flaw that investors can only make money from the inflow from new investors. It is 100% reliant on its own hype. At best its value could become stable.
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Can you please explain to us all how ANY (non-dividend) STOCK goes up in price on the secondary market?
 
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