New sub-board for cryptocurrencies?

Former_MSE_Andrea

Hi folks

realaledrinker has posted on another thread suggesting a new board for Cryptocurrencies.

I've had a look through the Savings & Investments board. While it doesn't seem to be a dominant discussion compared to other topics in the last few days you may feel differently and we'd like to get your thoughts on whether it needs a place of its own.

I can't promise we'll be able to do it but it would be useful to gauge the majority opinion on here.

Thank you!

realaledrinker wrote: »

New board needed for Cryptocurrencies.

Presently too many threads being started in what is supposed to be a board aimed at , and I quote, "Savings and Investments".

Fulham_Mark

Yes

Hi.
Yes because the topic will start to clog up this traditional money forum.

BUT...

crypto is not just "investment" and it may be beneficial to everyone on here to not treat it as a sub-thread of savings.

More like "charity sector" under "Work" - if that type of thing exists

I'd have a crypto forum covering this as a means of payment, crypto-industries, scams and hacking and also as an investment.

oh and also a sub-thread of Crypto called "crypto-billionaires" (only joking)

hildosaver

Yes

I think it would be a good move - crypto-currencies will become bigger and more influencial in the next few years. There is a growing interest in them and I can tell there are many here who seem to be irritated by talk of them in this part of the forum so a move to a dedicated sub-board would reduce any issues.

Malthusian

No

No, there are too many sub boards already.

In a week the cryptocurrency craze will have died down and we will have another dead sub board which nobody reads. Like the ISAs and Tax-free Savings board.

jamei305

No

A single thread should suffice.

stoozie1

No

I'm a no.

MSE, if you do, I suggest you ensure there are caveats users have to read, just as you do for matched betting. I otherwise think a sub-forum implicitly suggests endorsement.

JohnRo

No

I voted no.

Very few seem to have any interest in crypto technology itself anyway, all the talk, inane sniping aside, is about the current fiat value and how much higher or lower it will go.

It's fairly obvious there's going to be a crash in the fiat value at some point, just as there has been many times before this latest spike. That's the nature of true free market price discovery of something which has yet to realise it's potential and may never do so.

george4064

No

I voted No for reasons above.

If however it does go ahead, the subforum should be called ‘Currencies & Cryptocurrencies’. Im sure there are as many members out there that would like to discuss GBP/USD than BTC/USD.

We should not forget BitCoin is just a currency, so we should treat it as such alongside all the other currencies.

Lokolo

No

It's a speculative investment. You should not be encouraging this.

https://www.fca.org.uk/news/news-stories/consumer-warning-about-risks-investing-cryptocurrency-cfds

I remember years ago when people used to get warned about recommending certain stocks and people being told to go elsewhere. This is a consumer forum, and discussions on speculative investments have no place in this forum.

hildosaver

Yes

Lokolo wrote: »

It's a speculative investment. You should not be encouraging this.

https://www.fca.org.uk/news/news-stories/consumer-warning-about-risks-investing-cryptocurrency-cfds

I remember years ago when people used to get warned about recommending certain stocks and people being told to go elsewhere. This is a consumer forum, and discussions on speculative investments have no place in this forum.

I don't see why opening a sub-forum is encouraging anything other than discussion around a particular topic. Crypto-currencies are going to be here for the forseeable future so it seems odd not to at least acknowledge that and have a place to discuss them.

Lokolo

No

hildosaver wrote: »

I don't see why opening a sub-forum is encouraging anything other than discussion around a particular topic. Crypto-currencies are going to be here for the forseeable future so it seems odd not to at least acknowledge that and have a place to discuss them.

Because it won't be a discussion. It will be details on why people should purchase them, why they are good etc. and encouraging people to purchase specific parts of it. This is not good for this consumer forum.

We only have 1 or 2 topics on specific investments on this forum and a thread is perfect for that. That is all.

We have already had this issue with gold a number of years ago.

It is not a good idea for those with limited understanding, coming onto this forum, seeing threads on buying crypto currencies and purchasing them.