Who's invested in Cryptocurrency

ChesterDog

The thing is, the Savings and Investment forum majors on consideration, judgement, prudence, caution, analysis of risk, self-reliance and established, proven investment principles.

Crypotocurrency markets are not yet established enough to have any meaningful predictability. Despite underlying logic and reasoned analysis, values are so volatile and dependent on sentiment that they are an unpredictable gamble.

They are therefore not a good fit with the matters discussed on this board.

For the sake of background: I am quite experienced with investments, having well over a million pounds currently invested, and a further large amount in 'savings' products. I have been investing all my adult life, but especially since finding myself 'retired' in my early forties, a decade and a half ago.

Some time ago, I bought one Bitcoin. I still hold it. But my investing experience makes it very obvious to me that it is not (currently) an investment. It is far too high risk to be classified as such. It is a gamble - a bit of entertainment that might make money but will (in my view) probably not.

Discussion of the subject is - rightly - viewed with a mix of head-shaking, alarm and concern (that can be interpreted as patronising) on this board. There are good reasons for this.

BananaRepublic

Lungboy wrote: »

I found it helpful, informative and useful.

It was very condescending. Just my opinion of course.

bowlhead99

BananaRepublic wrote: »

It was very condescending. Just my opinion of course.

Well, if we want a sense-check on whether a post is condescending, who better to opine than one who is well experienced in writing condescending posts This forum is, after all, good for sharing expertise!

Lungboy

BananaRepublic wrote: »

It was very condescending. Just my opinion of course.

Given that the OP couldn't work out percentages on a calculator not too long ago, it seemed to be pitched just right.

Malthusian

Save_Dosh wrote: »

I'm only playing with money I can afford to lose.

Nobody has money they can afford to lose unless they have enough money to retire immediately and buy everything they could possibly want without doing a stroke of work until age 100 without investment risk.

Anyone not in that position should not be gambling on investments with a significant risk of permanent and total loss.

When people in their 20s or 30s talk about "money I can afford to lose", it is a virtual certainty that within a few years they will be complaining about how it's impossible to save for a house deposit.

BananaRepublic

bowlhead99 wrote: »

Well, if we want a sense-check on whether a post is condescending, who better to opine than one who is well experienced in writing condescending posts This forum is, after all, good for sharing expertise!

I bow to your superiority in condescension oh wise one.

BananaRepublic

I must admit to complete scepticism about Bitcoin, MeTooCoin, BandWagonCoin and so on. Bitcoin is currently falling steadily, and part of me wants this to be the fall that bursts the bubble. Interesting times.

[Deleted User]

bowlhead99 SERIOUSLY, you bothered to 'stalk' back hundreds of posts, to try and prove 'what'. I'm useless on a calculator and you think it's such great a great find, you will quote it. Yes, I have asked the calculator thing MANY TIMES. I've been told many times and, sorry, don't stick, htf do you do that. When did you ever have to be a calculator whizz to invest a few bob in something. Don't think I've ever been on debt free wannabe (or whatever its called). Please don't spend another few hours 'trolling my posts' to prove different - why would you do that - get a fking life?? I spend most of my time on the 'Grocery Challenge'. Yes, we do pat each others back, I call it encouragement. I know this is a different board, but I wasn't expecting this hostility. I honestly thought I would come over here, say hi guys wot do you think, but hey. I will stick to the experts on YOUTUBE.

BananaRepublic

Save_Dosh wrote: »

bowlhead99 SERIOUSLY, you bothered to 'stalk' back hundreds of posts, to try and prove 'what', and you think it's such great information, you will quote it.

You will soon learn, if you haven't already, that the Bowl Head does like attention to detail. :rotfl:

Save_Dosh wrote: »

Yes, I have asked the calculator thing MANY TIMES. I've been told many times and, sorry, htf do you do that - it don't stick n my brain. When did you ever have to be a calculator whizz to invest a few bob in something. Don't think I've ever been on debt free wannabe (or whatever its called). Please don't spend another few hours 'trolling my posts' to prove different - why would you do that - get a fking life?? I spend most of my time on the 'Grocery Challenge'. Yes, we do pat each others back, I call it encouragement. I know this is a different board, but I wasn't expecting this hostility. I honestly thought I would come over here, say hi guys wot do you think, but hey. I will stick to the experts on YOUTUBE.

Calm down. It's only a forum. Anyway, a crash is overdue and when it arrives it which will give us something more interesting to occupy our overactive minds.

[Deleted User]

BananaRepublic wrote: »

Callm down. It's only a forum.

Thank you. Yes you are right, I am riled, this is not the right place for me. Personally I don't want anyones bubble to burst, financially, I prefer a more nurturing environment, so i'm off.