Bitcoin and other Crypto...

[Rico1304]

On 12/05/2022 at 19:27, Rico1304 said:

I very nearly bought a couple Ethereum about 2 months ago.  Might do it now!

Thank fuck I didn’t.  

[TD_LFC]

It's the future, it's definitely not just a bunch of ponzi schemes.

[Rico1304]

2 minutes ago, TD_LFC said:

It's the future, it's definitely not just a bunch of ponzi schemes.

I read that some companies aren’t allowing customers to withdraw their cash. It’s a little bit bent. 

[TD_LFC]

It's all always been massively bent but while people have the perception of 'winning' it's fine. it get's less fine when that perception disappears and reality hits, like gambling.

 

NFT's are arguably worse and the bullshit use cases put forward for them in things like gaming are completely unworkable. I notice the LFC NFT's are trading for sub £20.

 

Edit: Typically I just googled LFC NFT's to find the article that mentioned the price drop and googles first result is a blog on a site called CryptoSlate. clicked it and my virus checker went mental. 

[Colonel Bumcunt]

I think you have to be careful but also I think this is a massively depressed, too depressed, a global economy at the moment and crypto is getting the brunt of it now, but will pop like a cork when things look up.  Yeah, could be long term, but make no mistake it's a great time to make a small investment. 

 

[Captain Willard]

I think it might be over for crypto. Bitcoin is down 60% in a year which must represent big losses for punters who bought at the peak. I’ve read of people borrowing against their houses last year to buy Bitcoin at £40k and it’s down to £15k now. Those people aren’t going to be fooled twice. Can’t see where the next investors are coming from to push the price back up. . 

[ZonkoVille77]

Spybee only ever turns up in this thread when things are going well. 

[Rico1304]

9 minutes ago, ZonkoVille77 said:

Spybee only ever turns up in this thread when things are going well. 

He’s busy buying shares in Raytheon

[Red Phoenix]

I think there's enough stubborn people around to prevent crypto from dying. It'll just be seen as a sale for many, no matter how bad it gets.

[A Red]

Did anyone here make a profit on crypto and got out ahead?

[Section_31]

Haven't read the thread but it's a total mugs game this, like the .com boom/bust and the fintech boom, shysters trying to hoodwink old money into giving them seed money then fucking off with the proceeds quicker than you can say 'my app cures cancer'.

 

Buy land, god isn't making any more of it.

[Barrington Womble]

2 hours ago, TD_LFC said:

It's all always been massively bent but while people have the perception of 'winning' it's fine. it get's less fine when that perception disappears and reality hits, like gambling.

 

NFT's are arguably worse and the bullshit use cases put forward for them in things like gaming are completely unworkable. I notice the LFC NFT's are trading for sub £20.

 

Edit: Typically I just googled LFC NFT's to find the article that mentioned the price drop and googles first result is a blog on a site called CryptoSlate. clicked it and my virus checker went mental. 

I can't believe the whole pile of shit is allowed the carry on. I honestly can think the only reason it's allowed, is politicians globally are using it to hide the backhanders they take, because there's no logical reason for economies such as are own, EU and US to not just squash this shit. 

 

As for NFTs, did you see that one with Michael Owen? He promised "investors" couldn't lose money on his. Sounds too good to be true right? Because it was. You're just banned from selling your NFT for less than the original purchase price, so if the NFT doesn't increase in value, you are.keft with nothing more than a jpeg. 

[Barrington Womble]

7 minutes ago, A Red said:

Did anyone here make a profit on crypto and got out ahead?

I've got a mate who's made about 40k out of bitcoin. Same lad lost that and more buying property off plans in Dubai that have never been built. It's just gambling without a roulette wheel. But the house always wins in the end, we can all get lucky now and again. 

 

Whilst I've seen the gamble you can take to make a profit with crypto, I've always stayed clear of it as it's impossible to be a real investment. It held no value other the fashion aspect of I've got to have some. 

[A Red]

8 minutes ago, Barrington Womble said:

I've got a mate who's made about 40k out of bitcoin. Same lad lost that and more buying property off plans in Dubai that have never been built. It's just gambling without a roulette wheel. But the house always wins in the end, we can all get lucky now and again. 

 

Whilst I've seen the gamble you can take to make a profit with crypto, I've always stayed clear of it as it's impossible to be a real investment. It held no value other the fashion aspect of I've got to have some. 

I could see crypto being perhaps worthy of a bet, perhaps a couple of £100 (I wouldn't as I would most likely shit myself)but most certainly not as an investment. To me an investment is long term and large sum and a bet short term small sum.

 

Luckily I'm too thick to even begin to try or even bullshit that I understand crypto.

 

 

[Rico1304]

I made about £300. 
 

My brothers ex girlfriend made enough to buy a house on Anglesey and she travels the world now.  

[lifetime fan]

10 minutes ago, Rico1304 said:

I made about £300. 
 

My brothers ex girlfriend made enough to buy a house on Anglesey and she travels the world now.  

Pics or GTFO. 

[Barrington Womble]

35 minutes ago, A Red said:

I could see crypto being perhaps worthy of a bet, perhaps a couple of £100 (I wouldn't as I would most likely shit myself)but most certainly not as an investment. To me an investment is long term and large sum and a bet short term small sum.

 

Luckily I'm too thick to even begin to try or even bullshit that I understand crypto.

 

 

If crypto is what it's claimed... A replacement for money, it can't really be an investment can it? People trade money, nobody invests in it. 

[A Red]

4 minutes ago, Barrington Womble said:

If crypto is what it's claimed... A replacement for money, it can't really be an investment can it? People trade money, nobody invests in it. 

Maybe I don't know. I think people bought it to make money one way or another, otherwise why bother? 

[Captain Willard]

My brother in law piled in last year, made a few quid at the top of the market and has spent the last 9 months up to the crash trying to persuade the rest of us to invest as well. Predictably he’s now saying the crash is an opportunity to buy. 

[No2]

The same money has ruled the world for 200 years. Crypto was never going to be allowed to succeed,  it only lasted this long so the old money could hoover up profits from the gullible and then dump it.

[Red Phoenix]

3 minutes ago, Captain Willard said:

My brother in law piled in last year, made a few quid at the top of the market and has spent the last 9 months up to the crash trying to persuade the rest of us to invest as well. Predictably he’s now saying the crash is an opportunity to buy. 

 

Haha. Well it's crashed several times before and has always come back so he could be right. Might take a while though.

[ZonkoVille77]

tH3 SuPpLy cHAiNs

[Captain Willard]

59 minutes ago, Red Phoenix said:

 

Haha. Well it's crashed several times before and has always come back so he could be right. Might take a while though.

I wonder who is going to buy back in though ? It’s the bigger fool theory of investing, you can always find another fool to buy your asset. 

[cochyn]

1 hour ago, Captain Willard said:

I wonder who is going to buy back in though ? It’s the bigger fool theory of investing, you can always find another fool to buy your asset. 

Yeah, this surely. For many crypto was their first dabble in 'investing'. This bloodbath has got Wall Street 1929 written all over it. (except the bit where the world ends). A lot of poor saps will have to pick themselves up off the floor and either forget investing or actually invest in something tangible. Harsh lesson, I feel for them. But they won't be going back in to crypto if they have any sense.

[Strontium]

4 hours ago, Barrington Womble said:

If crypto is what it's claimed... A replacement for money, it can't really be an investment can it? People trade money, nobody invests in it. 

 

That's how you know the claims are bullshit. As soon as people need liquidity, they're trying to switch crypto back into real money. It's a standard bubble, nothing more, nothing less.