bitcoin trading.
Comments
-
ValiantSon wrote: »It sounds like you are not quite so convinced when it comes to investing your own money. That's absolutely fine, and you shouldn't put much money into something that you are uncertain about, but it is rather at odds with how you have talked about it.
Oh I am convinced and I do believe in it but I would be stupid to stake all my savings on it. I don't have a huge amount of disposable income - if I had more money floating about then sure I'd put more in but like I said I have mortgages to pay and a family to provide for and that comes first. In any case if things go the way I believe they could then what I have could be enough for me to at least semi-retire all being well.I am insane and have 4 mortgages - total mortgage debt £200k. Target to zero = 10 years! (2030)0 -
hildosaver wrote: »Oh I am convinced and I do believe in it but I would be stupid to stake all my savings on it. I don't have a huge amount of disposable income - if I had more money floating about then sure I'd put more in but like I said I have mortgages to pay and a family to provide for and that comes first. In any case if things go the way I believe they could then what I have could be enough for me to at least semi-retire all being well.
Your argument, and your practice in reality, are still inconsistent, but that's a circle for you to square.
Good luck with the plans for semi-retirement based on a small Bitcoin investment. I think it highly unlikely to work out for you, but don't wish you ill with it.0 -
So your argument is that bitcoin is special because it’s bitcoin, and other equivalent cryptocurrencies are not?hildosaver wrote: »I have put a little bit of cash into it yeah - only enough that if i lost it all tomorrow it wouldn't bother me.
Do you realise how ridiculous that sounds? You are in effect saying that there is no reason for it to be special, you just like it. As to the best people working on it, that’s laughable. It is used by a few nerds and criminals, most of the best developers want to work on something with some real meaning, or that will make them rich. Who do you think is paying developers to work on bitcoin, and what do you imagine that they are doing?
I am afraid at this point your arguments sound like special pleading. Where is your evidence that the best people are working on it? I suspect that you’ve just invented this “fact”.
Edited to add, you are already tying yourself in knots and contradicting yourself. You claimed earlier that the scarcity added to the value, but now claim that the ability to infinitely divide so remove scarcity is adding to the value. I think that you think that it must go up,only because you think that it must go up. Scarcity does not imply value, as you surely know. There is only a small amount of my faces in circulation, but no-one is paying me for them. Using your “arguments”they should be a goldmine.0 -
hildosaver wrote: »I laugh when I see people mocking bitcoin and ridiculing those who invested in it. This 'crash' has only brought it back to the value it was about 6 months ago. If you had bought before then you would still be quids in.
And if you’d bought in December you’d be screwed.
Since you are so wise, how many did you buy back at $1?
One of my IT guys has 4,000 bitcoins. That makes him worth more than most of the senior traders on the floor. He’s been trying to get his cash out for months, and can’t.0 -
It’s a bit bizarre, is it not? He flips between laughing at the idiots who have not piled in, and then says he has only a little bit in himself, as he is not an idiot.ValiantSon wrote: »Your argument, and your practice in reality, are still inconsistent, but that's a circle for you to square.
Good luck with the plans for semi-retirement based on a small Bitcoin investment. I think it highly unlikely to work out for you, but don't wish you ill with it.
If anyone was as convinced as this poster claims to be, they would have remortgaged their house and invested the lot.
It is a bit sad, really, the hubris and superior attitude allied to likely onkynhaving a few tens of thousands invested.0 -
If he truly has that amount - which is highly doubtful - it's worth over £10 million. In what way can he not sell some of it? Doesn't add up at all.And if you’d bought in December you’d be screwed.
Since you are so wise, how many did you buy back at $1?
One of my IT guys has 4,000 bitcoins. That makes him worth more than most of the senior traders on the floor. He’s been trying to get his cash out for months, and can’t.
I got into it in 2014, hadn't heard of it in 2009/10 when it worth £1 or so.I am insane and have 4 mortgages - total mortgage debt £200k. Target to zero = 10 years! (2030)0 -
I didn't say that at all, quite the opposite I was pointing out that those ridiculing those who got into bitcoin shouldn't mock. That's you by the way. I've never advocated for anybody to spend money on it. If people do that's up to them. You are suggesting that if I don't remortgage my home to buy more I'm don't really believe in it? Are you for real? For the record I have nowhere near 'tens of thousands' invested. Nowhere near.It!!!8217;s a bit bizarre, is it not? He flips between laughing at the idiots who have not piled in, and then says he has only a little bit in himself, as he is not an idiot.
If anyone was as convinced as this poster claims to be, they would have remortgaged their house and invested the lot.
It is a bit sad, really, the hubris and superior attitude allied to likely onkynhaving a few tens of thousands invested.I am insane and have 4 mortgages - total mortgage debt £200k. Target to zero = 10 years! (2030)0 -
One of my IT guys has 4,000 bitcoins. That makes him worth more than most of the senior traders on the floor. He’s been trying to get his cash out for months, and can’t.
Not quite sure why someone appears unable to relinquish some or all of their holding of bitcoin. I would have thought you just log into an exchange and start selling as and when it suits you.
By the way, on a separate note, there was a spike in bitcoin's price this afternoon where, within one hour, the price went from $6,800 to $8,000 - a jump of 18%. I have found no information anywhere as to what may have caused this. News channels simply report "reasons unknown"!
More widely, I do not believe that anyone can know with enough, or indeed any, certainty where bitcoin is heading (and when). There may be no fundamentals backing it up (some would argue there are plenty) but either way, I think it's just as likely to head towards $25k as it is to go to $1k. Neither may be a "fair" valuation, but with speculatively-driven, not-that-widely-understood phenomena, which bitcoin clearly is, both extremes of the spectrum are possible.0 -
Not quite sure why someone appears unable to relinquish some or all of their holding of bitcoin. I would have thought you just log into an exchange and start selling as and when it suits you.
By the way, on a separate note, there was a spike in bitcoin's price this afternoon where, within one hour, the price went from $6,800 to $8,000 - a jump of 18%. I have found no information anywhere as to what may have caused this. News channels simply report "reasons unknown"!
More widely, I do not believe that anyone can know with enough, or indeed any, certainty where bitcoin is heading (and when). There may be no fundamentals backing it up (some would argue there are plenty) but either way, I think it's just as likely to head towards $25k as it is to go to $1k. Neither may be a "fair" valuation, but with speculatively-driven, not-that-widely-understood phenomena, which bitcoin clearly is, both extremes of the spectrum are possible.
That is correct which makes the entire story quite dubious.I am insane and have 4 mortgages - total mortgage debt £200k. Target to zero = 10 years! (2030)0 -
hildosaver wrote: »That is correct which makes the entire story quite dubious.
Let me just check - are you speaking from direct experience of trying to sell £20million+ worth of Bitcoin?
I should add that I've no personal experience of the financial liquidity of any crypto currency, so I genuinely don't know if turning that much into some other currency is easy or not.0
This discussion has been closed.
Categories
- All Categories
- 343.1K Banking & Borrowing
- 250.1K Reduce Debt & Boost Income
- 449.6K Spending & Discounts
- 235.2K Work, Benefits & Business
- 607.8K Mortgages, Homes & Bills
- 173K Life & Family
- 247.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 15.9K Discuss & Feedback
- 15.1K Coronavirus Support Boards