BITCOIN

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.

Scottex99

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?

Investing pennies isn't gonna make it any game of course.

But the "crypto is for millionaires with cash to burn on memecoins" narrative came from you. It's not being peddled by anyone in the pro camp as far as I can see.

I don't really see any of the pro crypto people being insulting except maybe when boomers (I say this in jest) come along trashing the whole crypto market when they can barely even grasp what BTC is and how it works. 

I like talking about it, I have my mates interested in it who have a few hundred quid to spare and I have my own clients (some of them rich and clueless) with big 6 figures using my desk to get exposure with spare fiat. I give them both the same initial advice, buy BTC, buy ETH and see how far down the rabbit hole you want to go.

Sometimes the price of the coins is the least interesting and personally yeah it would be cool to retire early purely from magic internet money but I'm not overly bothered about the wealth. For the sake of this discussion though: I was worth about 20-25k pre crypto and now about 2m including digital assets and equity in my firm, Ive been in the space less than 4 years

silvercue

For the record, in case it matters -  I am an old git.  I don't speak for the other over 50s though! 

Shocking_Blue

Dear all,

This is obviously quite an involved discussion around crypto, and I guess I have just a general question about dabbling in it investment-wise. Have read about crypto- ETFs and funds (for want of a better name) but none seem to be available via iWeb. Do not want to buy Bitcoin etc, but wouldn't mind getting in on affiliated investments (again, apologies for the loose terminology). Have looked at the following (are available via iWeb):

Docusign, Coinbase, CME, Hut8, Canaan, Nvidia, Greensky, FutureFintech. Also looking at Hood.

This would be a dabble (no more than 2% of portfolio in total), but I think it makes sense and is worth the relatively small risk.

Any ideas about possible ETFs, or the above, appreciated, but will post as a new thread if this is off current topic.

I guess there'll be a lot of post-newbie investors out there with an interest in this.

Thanks.

Adyinvestment

I did look at ETF's some time ago and could not see anything that interested me (there might be something better now)

I use MicroStrategy as a Bitcoin proxy which is now pretty much a pure Bitcoin share. I also chose Cleanspark over Hut8, although this is again Bitcoin based and not Crypto as a whole.

silvercue

Aegis said:

which is why my ISA has an annual return of 22.4% and my SIPP has 10.9%.  

That is a decent return on the ISA, do you mind me asking who it is with?