Bitcoin

BananaRepublic

gowzerneo said:

There are a lot of fake bitcoin success stories floating around on the internet, like the one where Gordon Ramsay claims he earned $13.5 million in one year with bitcoins.  He even revealed how he did this to Phillip Schofield and Holly Willoughby on This Morning.  The article is 100% fake but you'd be surprised how many people believe it is true and fall for it.

I was quite shocked when I saw how many adverts with fake claims are doing the rounds, claiming that for example Richard Branson has discovered a new source of money, and you can also invest in it. Traditional print media would not allow this sort of thing, but the nature of the big American social media corporations is that crooks can get away with almost anything.

chamelion

Malkytheheed said:

chamelion said:

 Treat it like an investment,

No, don't treat bitcoin like an investment. Bitcoin is gambling. No more, no less. 

An investment carries some form on knowledge about future likely trends. Bitcoin has no product roadmap, no CEO, no industry drivers. No inherent value behind it. Nothing. No lighthouses of what may happen. It is just a gamble. 

Look at altcoins. They have all of the above, and lots have various opportunities to get involved if you do wish to invest with decent rates of return. 
I know this board is heavily against cryptocurrency, which is why I turn to other sources for discussion where people are a bit more aware of the shakeup that crypto is causing and will continue to cause. 

chamelion

BananaRepublic said:

Malkytheheed said:

chamelion said:

 Treat it like an investment,

No, don't treat bitcoin like an investment. Bitcoin is gambling. No more, no less. 

An investment carries some form on knowledge about future likely trends. Bitcoin has no product roadmap, no CEO, no industry drivers. No inherent value behind it. Nothing. No lighthouses of what may happen. It is just a gamble. 

Exactly. Realistically noone has a clue where it is going.

ah excellent - so you know exactly where the stock market is going, right? Any stock tips given you know where companies are going?

Malkytheheed

chamelion said:

Malkytheheed said:

chamelion said:

 Treat it like an investment,

No, don't treat bitcoin like an investment. Bitcoin is gambling. No more, no less. 

An investment carries some form on knowledge about future likely trends. Bitcoin has no product roadmap, no CEO, no industry drivers. No inherent value behind it. Nothing. No lighthouses of what may happen. It is just a gamble. 

Look at altcoins. They have all of the above, and lots have various opportunities to get involved if you do wish to invest with decent rates of return. 
I know this board is heavily against cryptocurrency, which is why I turn to other sources for discussion where people are a bit more aware of the shakeup that crypto is causing and will continue to cause. 

I'm not against Crypto anymore than I am against Casino's. Because they are basically the same thing. 
Alt coins do not offer "decent rates of returns" anymore than blackjack does. Crypto has had 11 years to "shakeup" as you say. I'm still waiting...

Malkytheheed

chamelion said:

BananaRepublic said:

Malkytheheed said:

chamelion said:

 Treat it like an investment,

No, don't treat bitcoin like an investment. Bitcoin is gambling. No more, no less. 

An investment carries some form on knowledge about future likely trends. Bitcoin has no product roadmap, no CEO, no industry drivers. No inherent value behind it. Nothing. No lighthouses of what may happen. It is just a gamble. 

Exactly. Realistically noone has a clue where it is going.

ah excellent - so you know exactly where the stock market is going, right? Any stock tips given you know where companies are going?

You do realise thats how it works... You invest in companies based on research, who is the CEO. what is the product pipeline looking at, etc etc. You cant do ANY of that with Crypto. Its just total gambling. 

chamelion

Malkytheheed said:

chamelion said:

Malkytheheed said:

chamelion said:

 Treat it like an investment,

No, don't treat bitcoin like an investment. Bitcoin is gambling. No more, no less. 

An investment carries some form on knowledge about future likely trends. Bitcoin has no product roadmap, no CEO, no industry drivers. No inherent value behind it. Nothing. No lighthouses of what may happen. It is just a gamble. 

Look at altcoins. They have all of the above, and lots have various opportunities to get involved if you do wish to invest with decent rates of return. 
I know this board is heavily against cryptocurrency, which is why I turn to other sources for discussion where people are a bit more aware of the shakeup that crypto is causing and will continue to cause. 

I'm not against Crypto anymore than I am against Casino's. Because they are basically the same thing. 
Alt coins do not offer "decent rates of returns" anymore than blackjack does. Crypto has had 11 years to "shakeup" as you say. I'm still waiting...

which means you're not looking hard enough. 
I have a double digit rate of return from the past 3 years, have a metal visa card which provides me 8% interest on GBP deposits and 3% cashback as well as pays for my spotify and netflix, and has just launched EU wide after being in the US for the past few years, as well as Singapore and Australia. It's crypto backed, and they have their own token, their own CEO, their own roadmap, their own industry drivers. 
You may call it a gamble. But your casino analogy is something that would be laughed at by anyone who has done some more due diligence. 

chamelion

Malkytheheed said:

chamelion said:

BananaRepublic said:

Malkytheheed said:

chamelion said:

 Treat it like an investment,

No, don't treat bitcoin like an investment. Bitcoin is gambling. No more, no less. 

An investment carries some form on knowledge about future likely trends. Bitcoin has no product roadmap, no CEO, no industry drivers. No inherent value behind it. Nothing. No lighthouses of what may happen. It is just a gamble. 

Exactly. Realistically noone has a clue where it is going.

ah excellent - so you know exactly where the stock market is going, right? Any stock tips given you know where companies are going?

You do realise thats how it works... You invest in companies based on research, who is the CEO. what is the product pipeline looking at, etc etc. You cant do ANY of that with Crypto. Its just total gambling. 

well, and that's where you show your lack of knowledge. 

Username999

Malkytheheed said:
You do realise thats how it works... You invest in companies based on research, who is the CEO. what is the product pipeline looking at, etc etc. You cant do ANY of that with Crypto. Its just total gambling. 

Most people on this forum don't do any company research, they 'invest' in Funds, and haven't got the faintest idea of any CEO's, or any product pipelines, etc, etc.
You're comparing Bitcoin to a company stock, it isn't.
More like a commodity, Gold, Corn, Hog Belly's don't have a CEO either! 
Gold, Metals, Currencies, The Internet have no "value" until people put value to them. Bitcoin is no different.
All investing is a Gamble it's always a 50:50 probability.

Investment meaning... "the action or process of investing money for profit."

IMHO

Malkytheheed

Username999 said:

Malkytheheed said:
You do realise thats how it works... You invest in companies based on research, who is the CEO. what is the product pipeline looking at, etc etc. You cant do ANY of that with Crypto. Its just total gambling. 

All investing is a Gamble it's always a 50:50 probability.

Absolute nonsense. And sorry, but you have just shown your ignorance by stating that. It's wrong on so many levels. 

EdGasketTheSecond

Can someone explain in simple terms what 'value' bitcoin has apart from being one of an elaborate set of unique numbers?