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  • FIRST POST
    • SteveTheWinner2017
    • By SteveTheWinner2017 27th Dec 17, 6:52 PM
    • 3Posts
    • 1Thanks
    SteveTheWinner2017
    Who's invested in Cryptocurrency
    • #1
    • 27th Dec 17, 6:52 PM
    Who's invested in Cryptocurrency 27th Dec 17 at 6:52 PM
    Hi, I'm a member of many Facebook groups but wanted to see how many UK people here have invested in Cryptocurrency? Have you managed to make a profit? Have you spent any of your profit?

    I've been investing for several months now and In 2018 i'm hoping that my investments make me a millionaire due to the amount of holdings I have.
Page 2
    • dealer wins
    • By dealer wins 13th Jan 18, 12:18 PM
    • 5,796 Posts
    • 11,059 Thanks
    dealer wins
    I prefer to by jars of air, at least Ive got something for my money ie jars!
    Choose life
    • hildosaver
    • By hildosaver 13th Jan 18, 2:49 PM
    • 297 Posts
    • 433 Thanks
    hildosaver
    I prefer to by jars of air, at least Ive got something for my money ie jars!
    Originally posted by dealer wins

    That's cool - we will just continue to make crazy gains while you sit and do that.
    Mortgage balance September 2012: £121,086 (First ever OP)
    Mortgage balance March 2018: £77,650
    • ivormonee
    • By ivormonee 13th Jan 18, 2:53 PM
    • 167 Posts
    • 102 Thanks
    ivormonee
    That's cool - we will just continue to make crazy gains while you sit and do that.
    Originally posted by hildosaver
    That's cool - we will sit and do that while you just continue to take crazy risks.
    • Randy
    • By Randy 13th Jan 18, 7:25 PM
    • 197 Posts
    • 32 Thanks
    Randy
    Me.. was sick of making a pathetic 1.5% with Santander.. invested 10% of my savings into 16 different crypto coins. (60% bitcoin). I've managed to turn £3.2k into £4.6k in 2 months.

    That includes an absolute disastrous decision I made involving Litecoin and Ethereum which would of meant that £4.6k would now be about £5.5k
    • Aegis
    • By Aegis 13th Jan 18, 7:32 PM
    • 4,907 Posts
    • 3,130 Thanks
    Aegis
    Me.. was sick of making a pathetic 1.5% with Santander.. invested 10% of my savings into 16 different crypto coins. (60% bitcoin). I've managed to turn £3.2k into £4.6k in 2 months.

    That includes an absolute disastrous decision I made involving Litecoin and Ethereum which would of meant that £4.6k would now be about £5.5k
    Originally posted by Randy
    Just be careful. You've gone from zero investment risk to "off the scale" risk, which is a huge step. If your £4.6k turns into £460 because the bubble bursts, you may well miss the 1.5% you could have had from Santander.

    Make sure you can afford huge losses before buying into speculative assets
    I am an Independent Financial Adviser
    Anything I say on the forum is for discussion purposes only and should not be construed as personal financial advice. It is vitally important to do your own research before acting on information gathered from any users on this forum.
    • Randy
    • By Randy 13th Jan 18, 7:38 PM
    • 197 Posts
    • 32 Thanks
    Randy
    Just be careful. You've gone from zero investment risk to "off the scale" risk, which is a huge step. If your £4.6k turns into £460 because the bubble bursts, you may well miss the 1.5% you could have had from Santander.

    Make sure you can afford huge losses before buying into speculative assets
    Originally posted by Aegis
    That's why I only invested 10%. I very much doubt they will crash back to November 2017 level. Even the whales won't want it that cheap.
    • ivormonee
    • By ivormonee 13th Jan 18, 7:50 PM
    • 167 Posts
    • 102 Thanks
    ivormonee
    It's still not as bad as it would be trading in a leveraged account. At least any potential losses would be limited to the amount invested!

    Of course, we don't know if prices will continue to go up or if they will go down. Same as any investment or speculation. You calculate your risks and, if they fall within your chosen parameters, you take those risks to secure better returns at the expense of those greater volatilities.
    • PEHsaver
    • By PEHsaver 13th Jan 18, 9:21 PM
    • 13 Posts
    • 7 Thanks
    PEHsaver
    Invested just over £500 to have a dabble. My investment is mixed between XRP , Bitcoin & Etherium. I think I bought at a bad time so am currently out of pocket since the dip, but I am in it for the long term to see what comes of it all. Should be interesting!
    • planteria
    • By planteria 13th Jan 18, 9:33 PM
    • 5,000 Posts
    • 1,110 Thanks
    planteria
    i'm looking to have a dabble in CCs this year.

    If it rises to five times what I paid for it, then I intend to convert a fifth back into sterling to recover my initial stake.
    Originally posted by ChesterDog
    i like that strategy. one of my colleagues uses a similar strategy with virtually everything he touches.. he has a substantial portfolio which i merrily tells us was "FOC".

    I have lots of investments. This isn't one. This is just an interesting game.
    Originally posted by ChesterDog
    nice position to be in.
    Last edited by planteria; 13-01-2018 at 9:45 PM.
    • planteria
    • By planteria 13th Jan 18, 9:41 PM
    • 5,000 Posts
    • 1,110 Thanks
    planteria
    That's cool - we will sit and do that while you just continue to take crazy risks.
    Originally posted by ivormonee
    ...but you are looking to get into CCs according to this thread, which i started re. which exchanges folk here recommend:

    http://forums.moneysavingexpert.com/showthread.php?t=5763731
    • firestone
    • By firestone 13th Jan 18, 10:32 PM
    • 246 Posts
    • 106 Thanks
    firestone
    That's why I only invested 10%. I very much doubt they will crash back to November 2017 level. Even the whales won't want it that cheap.
    Originally posted by Randy
    i would be worried if someone as you seem to suggest i.e whales can control the price - but good luck anyway
    • Randy
    • By Randy 13th Jan 18, 10:56 PM
    • 197 Posts
    • 32 Thanks
    Randy
    i would be worried if someone as you seem to suggest i.e whales can control the price
    Originally posted by firestone
    They are controlling it..
    • BananaRepublic
    • By BananaRepublic 14th Jan 18, 12:55 AM
    • 1,192 Posts
    • 874 Thanks
    BananaRepublic
    That's why I only invested 10%. I very much doubt they will crash back to November 2017 level. Even the whales won't want it that cheap.
    Originally posted by Randy
    When even whales sing about an investment, thatís the time to get out. Trust me.
    • ivormonee
    • By ivormonee 15th Jan 18, 4:43 PM
    • 167 Posts
    • 102 Thanks
    ivormonee
    But why would anyone invest?
    The thing is I still can't say I understand what cryptocurrency is and I cannot see any definitive way of ascertaining its value. There've been some discussions on this forum on around three or four threads with, it seems, opposing views in equal measure: there's the "don't touch" camp on the one hand with the "best thing since..." brigade on the other. Both arguments have validity.

    But the point is what exactly is this stuff. The underlying technology makes sense. It streamlines processes, makes them more efficient, decentralised, etc. but the resulting coins are simply a by-product, are they not? Eg. the bitcoin blockchain is a way of confirming transactions, so it has a significant and practical application. But the bitcoins themselves are the by-product, the reward to miners for carrying out the confirmatory transactions. Why should those resulting coins have value? That bit is the bit I'm struggling to grasp.

    Those debating on both sides of the fence will probably agree that the technology is the future and they will also probably agree that current valuations are spurred on by the usual herd behaviour seen in previous bubbles throughout time. But what is hidden in a grey area is the true value of the currencies and that is what nobody can agree on because nobody can know or foresee the real world true value or be sure it even exists.

    By investing we are merely taking part in an unknown the result of which we won't know for a while, the length of time too also unknown.

    I've written this post to address the question at the start - we know there is an underlying technology but what exactly is the value of the cryptocurrency it generates which itself is only a by-product of that technology?
    • Theta101
    • By Theta101 15th Jan 18, 6:18 PM
    • 140 Posts
    • 29 Thanks
    Theta101
    ....but what exactly is the value of the cryptocurrency....
    Every "cryptocurrency" is different in some way, and there are more than 2000 of them.
    Take Ethereum and its Coin ETH.
    If you want to use the Ethereum blockchain then you need some ETH coins.
    If you think Ethereum is going to be a huge success and used for say storing all NHS records or legal contracts. Then the limited number of ETH coins will be in high demand, hence the value of ETH will rise.
    • sstjc
    • By sstjc 15th Jan 18, 7:12 PM
    • 18 Posts
    • 2 Thanks
    sstjc
    Well I would say i'm getting there in my understanding but am a long way from completing that journey. However I have invested in the last few days and started a blog detailing the journey. http://ineptinvestor.blogspot.co.uk/
    Hopefully it will be informative, well a bit anyway !
    Come along for the ride - personally i'm quite worried that I will lose my small gamble on this but sometimes the only way to find out how something works is to give it a go !
    Last edited by sstjc; 15-01-2018 at 7:19 PM.
    • ValiantSon
    • By ValiantSon 15th Jan 18, 7:26 PM
    • 2,004 Posts
    • 1,853 Thanks
    ValiantSon
    That's cool - we will just continue to make crazy gains while you sit and do that.
    Originally posted by hildosaver
    Yep, because that bubble is never going to burst, is it?

    Would anyone like to invest in my new tulip bulb enterprise?
    Last edited by ValiantSon; 15-01-2018 at 7:33 PM.
    • dividendhero
    • By dividendhero 15th Jan 18, 7:31 PM
    • 207 Posts
    • 185 Thanks
    dividendhero
    That's cool - we will just continue to make crazy gains while you sit and do that.
    Originally posted by hildosaver
    If you're making "crazy gains", then in the zero sum game that cryptos are then someone else is making crazy losses
    • ivormonee
    • By ivormonee 16th Jan 18, 12:00 AM
    • 167 Posts
    • 102 Thanks
    ivormonee
    If you want to use the Ethereum blockchain then you need some ETH coins.
    If you think Ethereum is going to be a huge success and used for say storing all NHS records or legal contracts. Then the limited number of ETH coins will be in high demand, hence the value of ETH will rise.
    Originally posted by Theta101
    If I understand you correctly, what you are saying is that if the NHS wanted to make use of the Etherium blockchain to store all of its records it would need to pay for this service using Etherium coins. Is this correct?
    • Eco Miser
    • By Eco Miser 16th Jan 18, 12:12 AM
    • 3,444 Posts
    • 3,234 Thanks
    Eco Miser
    If you want to use the Ethereum blockchain then you need some ETH coins.
    If you think Ethereum is going to be a huge success and used for say storing all NHS records or legal contracts. Then the limited number of ETH coins will be in high demand, hence the value of ETH will rise.
    Originally posted by Theta101
    But if the NHS wanted to store all its records in a blockchain, it could just create a blockchain, tweaking Etherium or Bitcoin or whatever code, and use it privately, without any public involvement, and NHScoin would just be used for internal accounting purposes.
    Eco Miser
    Saving money for well over half a century
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