The FTSE

[Craig]

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.

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.

 

[Manchester33]

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.

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.

 

[Gareth Barry Conlon]

if you invest in Bitcoin (and there’s better coins to invest in through crypto) you’re not going to lose out long term.

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.

 

[blueish swede]

As I underställd it there is a limit för Bitcoin om the number of wallets that can be created.

 

[inbetween]

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.

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.

 

[zerox]

At best its value could become stable.

There are many crypto already that are designed stablecoins.
Many pay 10% interest.

 

[zerox]

@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

 

[Craig]

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.

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.

 

[ChicagoBlue]

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.

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.

 

[Gareth Barry Conlon]

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.

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.