BITCOIN

Scottex99

Yep I'm not sure exactly how to account for the earn although I'm based in Gibraltar so it doesn't really matter as no CGT. Not sure if Gib is classing it as income though.

I'll have a look at Sundaeswap but I dont overly rate ADA as a project. Did well on it and dumped a decent bag near $3 but I dont think any good smart contracts will ever materialise and it certainly wont be an "ETH killer".

Trader Joes is pretty cool and Avalanche seems to be very fast and cheap

Section62

[Deleted User] said:

A new CNBC survey shows that 83% of Millennial millionaires now own crypto. Nearly 1/3 of the respondents have put at least 3/4 of their wealth in the assets.

Seems to be that only MSE "veterans" reject Bitcoin/crypto. It's not the case the new generation, who will eventually replace them.

In the meantime, all "veterans", enjoy your 0.25% PA in your savings account.

Happy New Year to all who are not afraid!

How many of these "MSE 'veterans'" are millionaires who can afford to take that level of risk with their assets?

Criticising other people for taking a different approach to saving/investing is unfair, if you have no idea what their financial circumstances are.

bugbyte_2

There appears to be two types of crypto fans - ones that know what it is and are making a good return, and ones that are attracted to cartoons of rockets. I would suggest patent_investor falls into the 'liking pictures of dogs on the moon' category.

Scottex99

Section62 said:

[Deleted User] said:

A new CNBC survey shows that 83% of Millennial millionaires now own crypto. Nearly 1/3 of the respondents have put at least 3/4 of their wealth in the assets.

Seems to be that only MSE "veterans" reject Bitcoin/crypto. It's not the case the new generation, who will eventually replace them.

In the meantime, all "veterans", enjoy your 0.25% PA in your savings account.

Happy New Year to all who are not afraid!

How many of these "MSE 'veterans'" are millionaires who can afford to take that level of risk with their assets?

Criticising other people for taking a different approach to saving/investing is unfair, if you have no idea what their financial circumstances are.

And criticising people for having a look at something new and different is the same. Some people have written off a new asset class worth $2.2bn without any knowledge of it and thinking BTC/ETH/USDT are somehow the same thing. Nevermind DeFi/NFTs/DAOs etc etc. We don't all want to be scrambling around looking for 1% on our savings or buying premium bonds to try and avoid our money getting eroded by inflation.

Fair enough if you're 75 years old and using your dividends from Microsoft or whatever to enjoy your retirement but you don't need to be a millionaire to invest in higher risk funds or stocks. Same for crypto.

I'm the opposite of risk averse but I find it amazing that even the most cautious of investor wouldn't have a little bit of exposure to BTC/Crypto. If it dies tomorrow you lost a small amount of capital. If it it's the future of finance, you got in fairly early and may end up with generational returns 

eskbanker

Scottex99 said:

Just neatly sidestepping the 2.2tn dollar market cap of the asset class?

Scottex99 said:
Some people have written off a new asset class worth $2.2bn without any knowledge of it

A sensible move if it's lost 99.9% of its value since Thursday

silvercue

Scottex99 said:

I'll have a look at Sundaeswap but I dont overly rate ADA as a project. Did well on it and dumped a decent bag near $3 but I dont think any good smart contracts will ever materialise and it certainly wont be an "ETH killer".

Ah, well only time will tell.  ADA isn't about "killing ETH", but there are some excellent Defi projects releasing soon.  Including  quadruple yield opportunities, ability to add FIAT as well as crypto to liquidity pools and genuine projects to connect the unconnected.  

Scottex99

Haha nice, buy the dip

[Deleted User]

Section62 said:

patient_investor said:

A new CNBC survey shows that 83% of Millennial millionaires now own crypto. Nearly 1/3 of the respondents have put at least 3/4 of their wealth in the assets.

Seems to be that only MSE "veterans" reject Bitcoin/crypto. It's not the case the new generation, who will eventually replace them.

In the meantime, all "veterans", enjoy your 0.25% PA in your savings account.

Happy New Year to all who are not afraid!

How many of these "MSE 'veterans'" are millionaires who can afford to take that level of risk with their assets?

Criticising other people for taking a different approach to saving/investing is unfair, if you have no idea what their financial circumstances are.

Are you aware that you can invest at much as you can afford, starting from pennies? Or you just playing poor, ignorant "veteran"?

Section62

[Deleted User] said:

Section62 said:

[Deleted User] said:

A new CNBC survey shows that 83% of Millennial millionaires now own crypto. Nearly 1/3 of the respondents have put at least 3/4 of their wealth in the assets.

Seems to be that only MSE "veterans" reject Bitcoin/crypto. It's not the case the new generation, who will eventually replace them.

In the meantime, all "veterans", enjoy your 0.25% PA in your savings account.

Happy New Year to all who are not afraid!

How many of these "MSE 'veterans'" are millionaires who can afford to take that level of risk with their assets?

Criticising other people for taking a different approach to saving/investing is unfair, if you have no idea what their financial circumstances are.

Are you aware that you can invest at much as you can afford, starting from pennies? Or you just playing poor, ignorant "veteran"?

I could ask whats the point of 'investing' pennies in Crypto?

But that isn't really the point - the point is that an investment strategy which makes sense when you are a millionaire isn't necessarily the same as the one someone should follow when they have pennies.  The idea being peddled is "these millionaires are doing it, you should too" - the point the "veterans" are making is how that thinking is flawed. With a few exceptions, people aren't saying others should "reject Bitcoin/crypto".

I'm neither a "veteran", nor "poor", nor "ignorant".  But I do wonder why people like yourself don't seem able to make a case for their investment of choice without insulting other people and going for the ad homs.  What does that tell us about the advice they offer?

Aegis

[Deleted User] said:

A new CNBC survey shows that 83% of Millennial millionaires now own crypto. Nearly 1/3 of the respondents have put at least 3/4 of their wealth in the assets.

Seems to be that only MSE "veterans" reject Bitcoin/crypto. It's not the case the new generation, who will eventually replace them.

In the meantime, all "veterans", enjoy your 0.25% PA in your savings account.

Happy New Year to all who are not afraid!

As I reject crypto, I guess I must be one of those veterans.  I certainly wouldn't accept 0.25% as a return rate, which is why my ISA has an annual return of 22.4% and my SIPP has 10.9%.  Both comfortably above inflation.

I have pointed out several times that it's not a simple binary choice of crypto or savings accounts, but it keeps being raised as though it is somehow the only alternative to penury.