bitcoin trading.

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  • BananaRepublic
    BananaRepublic Posts: 2,103 Forumite
    First Anniversary Name Dropper Combo Breaker First Post
    FREDERICK_BIRKS wrote: »
    I have just put 250 pounds into bitcoin with kayafx firm as any one heard off this one as the person is very pushey to get me to put more money in it he as traded with the money and made 99.0 pounds in 1 hour i do not want to put more money in so need some help

    Then don't put any more money in. Please read the comments on this page:

    http://scambroker.com/kayafx/

    :(
  • dealer_wins
    dealer_wins Posts: 7,334 Forumite
    Definately a scam, write of your £250 and wise up big time to the scams out there. Google "common scams" and spend a few hours reading all about them and how to not be a victim next time!
  • ValiantSon
    ValiantSon Posts: 2,586 Forumite
    edited 21 February 2018 at 2:13PM
    FREDERICK_BIRKS wrote: »
    I have just put 250 pounds into bitcoin with kayafx firm as any one heard off this one as the person is very pushey to get me to put more money in it he as traded with the money and made 99.0 pounds in 1 hour i do not want to put more money in so need some help

    It sounds very much like you have been scammed. Bitcoin itself is not a scam, but there are people who will scam you by claiming to invest your money in Bitcoin.

    You have almost certainly lost your £250, but still try to get it back out. Don't give them any more money,
  • TBC15
    TBC15 Posts: 1,451 Forumite
    First Post First Anniversary Name Dropper
    When snake oil becomes popular there will be numerous purveyors of snake oil, some will be charlatans.

    The question is do you really want snake oil?
  • Bravepants
    Bravepants Posts: 1,502 Forumite
    First Anniversary First Post Name Dropper Photogenic
    Dear me, if you have to gamble your money sign up to Coinbase.
    If you want to be rich, live like you're poor; if you want to be poor, live like you're rich.
  • 4_Pete's_Sake
    4_Pete's_Sake Posts: 309 Forumite
    Newshound! First Anniversary Combo Breaker First Post
    edited 27 March 2018 at 2:11AM
    You think that you have put £250 into a Cryptocurrency, well you haven't. Research it on the Web. you have put your money into a broker who trades Foreign Currencies. As it happens you may well do better with that than with a Cryptocurrency. Most have now had their "Dead cat bounce" and are now dropping further again. Not surprising when the likes of Google are going to stop carrying their adverts.
    IF THIS POST HAS BEEN HELPFUL - PLEASE CLICK ON THANKS :j
  • Mickygg
    Mickygg Posts: 1,737 Forumite
    First Anniversary Name Dropper Combo Breaker First Post
    FREDERICK_BIRKS wrote: »
    I have just put 250 pounds into bitcoin with kayafx firm as any one heard off this one as the person is very pushey to get me to put more money in it he as traded with the money and made 99.0 pounds in 1 hour i do not want to put more money in so need some help

    Do you seriously have to ask? At what point did you think it's all legit when they told you you had made 40% within an hour??

    It's so annoying that we have these scammers, but even more annoying people fall for this.

    If it sounds too good to be true, it is a scam!

    Your £250 is gone. Just read the comments on the link.
  • sabretoothtigger
    sabretoothtigger Posts: 10,035 Forumite
    First Post Photogenic Combo Breaker First Anniversary
    edited 24 March 2018 at 6:56PM
    TBC15 wrote: »
    When snake oil becomes popular there will be numerous purveyors of snake oil, some will be charlatans.

    The question is do you really want snake oil?

    What about the poor snakes, what happens to them :(

    The real argument on BTC is around any economy it forms. The froth is all the speculation and on that people are leaning a bit too much but there is some use case in play and that part is interesting.

    I think most of the crypto rise is nothing to do with tech, its inverse to dollar printing and loose money. If we ever enter a harsh monetary policy environment then it will be hard times for crypto and all sorts of industries. But meanwhile it will froth on imo, time to be hard bearish was on the highs, Im interested in forthcoming innovation possible.
    See my sig quote from Bernanke, we arent going backwards on this

    Holding money, btc, dollars, euro whatever cash value isnt 'investment'.
    Thats the most glaring mistake, I dont hold EURO especially unless I will use it etc. I would criticise not enough use BTC but if the usage levels are rising thats not bearish.
  • 4_Pete's_Sake
    4_Pete's_Sake Posts: 309 Forumite
    Newshound! First Anniversary Combo Breaker First Post
    The smaller cryptocurrencies CC's are leading the way with further falls to levels last seen over 3 months ago. Bitcoin being the biggest has also fallen but not by quite as much. However it will inevitably follow soon.

    CC's have had large falls before but soon recover. However Ethereum for example is 65% below where it was before 15 weeks ago, likewise Ripple is 82% below where it was 12 weeks ago. Previously when there have been big percentage falls they have bounced back up very quickly, usually within weeks, but this time it is different. The downward trend is continuing and is prolonged.

    The ridiculous rise was built on sentiment rather than a solid foundation and could not have been predicted. However analysis of the currents trend suggests that this will go the same way of many shares that end up 99% below their highs.

    Ripple was around 03.45c (99% below the $3.45 high) during much of April 2017 and I fully expect it to be back there some time this year. I'll refer back to this post when it gets there.
    IF THIS POST HAS BEEN HELPFUL - PLEASE CLICK ON THANKS :j
  • onomatopoeia99
    onomatopoeia99 Posts: 6,957 Forumite
    First Anniversary Name Dropper First Post
    4_Pete's_Sake wrote: »
    Bitcoin being the biggest has also fallen but not by quite as much. However it will inevitably follow soon.

    Indeed, from your post of 5th Februrary where you stated BTC at $7000 it has now crashed to $8000 this morning.
    Proud member of the wokerati, though I don't eat tofu.Home is where my books are.Solar PV 5.2kWp system, SE facing, >1% shading, installed March 2019.Mortgage free July 2023
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