Bitcoin (cryptocurrency)

Damocles said:
Yeah you're right.

Forget it mate, stick five thousand quid into a flawed technology with major security issues and whose support is currently getting dropped by the mainstream because you reckon it might be worth half a million in the future. Much better than diversified portfolio over low risk ventures returning small gains for a longer period. Do that. Shoot for the Moon. This time next year Rodders, you'll be a millionaire.
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I'm not going to be buying Bitcoin. But advising an ISA that is paying an interest rate which is lower than inflation????
 
And if you're into any crypto currencies, I'd start looking at an exit figure if you're up. I'd go into more detail, but I don't have time... But the central banks do NOT like this, see precious metals. IG Index have already been emailing me about opening this up on their platform, I'll be short at some point in the future, certainly not now. But I can guarantee you this, the crooks in the Square Mile and Wall Street will create a paper vehicle for this, and will short it, hard, as will I. Trading desks are looking at opening mid 2018, if I held, I'd be out mid/late next year.
 
bluesteel said:
And if you're into any crypto currencies, I'd start looking at an exit figure if you're up. I'd go into more detail, but I don't have time... But the central banks do NOT like this, see precious metals. IG Index have already been emailing me about opening this up on their platform, I'll be short at some point in the future, certainly not now. But I can guarantee you this, the crooks in the Square Mile and Wall Street will create a paper vehicle for this, and will short it, hard, as will I. Trading desks are looking at opening mid 2018, if I held, I'd be out mid/late next year.
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Banks have good reason to NOT like it. Why are banks in Asia Pacific region testing ripple as an alternative to SWIFT?

Whilst I agree that markets will remain volatile. The future is cryptocurrency. Of course that does not mean you don't diversify. You keep some crypto, you move some to more safe investments.

I would say one thing though, the people who were going to make crazy money from crypto have already done so. Now it will be less crazy money.
 
arbabarshad said:
Banks have good reason to NOT like it. Why are banks in Asia Pacific region testing ripple as an alternative to SWIFT?

Whilst I agree that markets will remain volatile. The future is cryptocurrency. Of course that does not mean you don't diversify. You keep some crypto, you move some to more safe investments.

I would say one thing though, the people who were going to make crazy money from crypto have already done so. Now it will be less crazy money.
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The future might well, and most likely will be crypto currency. But it won't be Bitcoin, it won't be unregulated and it won't be anonymous.
 
I have over 13k of electroneum which is already worth 10x my investment. And 2k in Bitcoin will cash out again at 18k
 
bluesteel said:
The future might well, and most likely will be crypto currency. But it won't be Bitcoin, it won't be unregulated and it won't be anonymous.
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Agree with you on that. I have no interest in bitcoin other than the fact all the market cap it currently holds will trickle down to other more promising, more flexible and more useful crypto currencies. So from that point of view, bitcoin is still important for the crypto currencies market.
 
As soon as the central banks (and I understand they're working with IBM) create a crypto currency of their own, all the others are dead. That's what I'm waiting for.
 
Scottyboi said:
I have over 13k of electroneum which is already worth 10x my investment. And 2k in Bitcoin will cash out again at 18k
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Hold onto it, but understand that this can now be short sold. I promise you this is coming down, it might do another 100%, do not think this will go up forever.
 
bluesteel said:
As soon as the central banks (and I understand they're working with IBM) create a crypto currency of their own, all the others are dead. That's what I'm waiting for.
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Central banks have been working with technology companies to come up with their own crypto currency ! Who would have thought it. Btw, I must say this is not news to me.

JP Morgan have been working to come up with crypto solutions for some time now. As I said, central banks in Asia Pacific region have been working on it for nearly 2 years.

Crypto is the future. Which crypto currency/currencies is the only question. Moreover, the developers working on these projects always come up with things that are better than main stream technology companies. So whatever IBM come up with, wouldn't say that will be the be all and end all.

The industry only needs some main stream coverage which it has started to get and some regulation for it to become mainstream.

I, myself, have little interest in individual currencies because they are just taking he industry through the beta phase. With some short term crazy profits of course, but that is just a by product. The crypto however will change the future of the financial markets as we know it which is the primary reason why so many in financial markets do NOT like it.
 
The crypto currency that is created and supported by banks will be the one to stick everything you have spare on!

It’s hard to get a quick buck these days but they do come around such as AliBaba and the Royal Mail.

For me, I’m happy with low cost index trackers building up my retirement pot and compound daily interest.
 
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