Thanks, it sort of frightens me into thinking the early investors made a profit paid for by later investments. I'm sure it's more complicated than that but like Ponzi schemes it's unregulated, not for me but as I said before I do lack knowledge on the subject.
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SWP's back
Well-Known Member
- Joined
- 29 Jun 2009
- Messages
- 88,232
Every other asset has an underlying value backed by something tangible. Crypto was “invented” as a currency for people to use in exchange for goods and services but it’s not being used for that and it can’t be used for that as anyone would be crazy to spend Bitcoin as it’s value is rising. This means that it’s impossible to use it for its own intended purpose. It’s a paradox that will be the end of it if it continues.Thanks, it sort of frightens me into thinking the early investors made a profit paid for by later investments. I'm sure it's more complicated than that but like Ponzi schemes it's unregulated, not for me but as I said before I do lack knowledge on the subject.
Crypto is not used for anything, it produces nothing, it pays no dividend. It’s growth is entirely sentiment led and it’s made tens of thousands of people multi-millionaires.
Throw a few grand in for sure but not your pension.
Georgian Maestro
Well-Known Member
A work colleague of mine is leaving his well paid job next Friday to become a full time cryptocurrency trader. He has been doing it in his spare time over the last 4-5 years and has made enough money to not need to work for the next 5 years. He reckons by trading full time he will make enough over the next few years to retire. He's only 36
SWP's back
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- Joined
- 29 Jun 2009
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- 88,232
I know a couple of people that are similar. Ones a professional gambler and ones a pro poker player.A work colleague of mine is leaving his well paid job next Friday to become a full time cryptocurrency trader. He has been doing it in his spare time over the last 4-5 years and has made enough money to not need to work for the next 5 years. He reckons by trading full time he will make enough over the next few years to retire. He's only 36
Your mate is doing similar and good luck to him!
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manchester blue
Guest
Put this on as I’ve watched them since @worsleyweb pushed them but didn’t get on board. Went on holiday instead :) Great tip,so far though, were around 100 at the time.Just won the huge American contract on the B52 Bombers announced late last night. Worth $2.6 Billion. Was expected to go to Pratt & Witney. These will surge again Monday Morning. Got quite a few of these when they did the Rights Issue back end of last year. Absolute killing has been made on these now.
The blue phantom
Well-Known Member
- Joined
- 26 Aug 2015
- Messages
- 8,083
Well as I said on my last post these would surge Monday morning due to the huge contract with the American defence, Up another 7% already this Morning. If the ITP sale goes through this week they'll go through the roof again. Happy days.Put this on as I’ve watched them since @worsleyweb pushed them but didn’t get on board. Went on holiday instead :) Great tip,so far though, were around 100 at the time.
Blue Smarties
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- Joined
- 10 Aug 2008
- Messages
- 26,791
I’m up 47% on my initial stake. Still keeping it for a while yet though.Well as I said on my last post these would surge Monday morning due to the huge contract with the American defence, Up another 7% already this Morning. If the ITP sale goes through this week they'll go through the roof again. Happy days.
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worsleyweb
Guest
I’m up 47% on my initial stake. Still keeping it for a while yet though.
I bought in at 90 cashed out some and cashed out the balance this am at 140. On the back of a very successful trade with RBS last year on my best run on the shares for a long time based on not much more than a gut feel.
A pension I paid just 3k into between 1984-1989 which is now with Aviva was worth 85k before Covid, dropped to 73k but now back to 80k, meeting an IFA (my sister works for him) next couple of weeks for advice.My private pension has jumped £26k in 12 months, despite essentially paying in the minimum amount during Covid.
I didn't want to freeze it, but I'm in for roughly £240 in contributions during that period.
It's not buying in to Amazon in 1998, but it's the biggest return I've ever had for such a minimal outlay.
Kudos to my financial adviser!