Anyone had a dabble?

 

I was told to get on bitcoin years ago but thought the lad who tipped me off was smoking crack. Turns out even a modest £1,000 investment then would have seen me become a multi millionaire now ffs

 

One lad I know has made about £700k on something called Ether from a few grand invested

 

Few of the lads are going balls deep into ripple bits as we speak

 

I'm weighing up a piece of the action

 

It looks like a volatile road but incredibly profitable if you land on the right peg

1 minute ago, Cheese said:

I have, and there isn't one.

Then lay it if you think it’s a con and will fail,  like you’ve been saying for the last 7 years. You will be fkin minted. 

2 minutes ago, Cheese said:

Mugs, with fantasies of getting rich.

Some folk have obviously benefitted but it just seems odd to me.

https://river.com/learn/what-is-backing-bitcoin/

 

1 minute ago, Winchester White said:

Some folk have obviously benefitted but it just seems odd to me.

"Some" folk always benefit from Pyramid schemes. That's how they work.

Does anyone mine it? 

I’m happy with my ISA’s. Some good deals about. 

10 minutes ago, Cheese said:

"Some" folk always benefit from trading. That's how they work.

Sorted 👍

26 minutes ago, BobyBrno said:

I’m happy with my ISA’s. Some good deals about. 

Indeed, I guess it depends how risk averse/tolerant people are. I only ever put in spare money, once I've put into more traditional type savings to be honest. I also believe it's a useful mechanism to move money (get payments) without it being traced/tracked, thus preventing the obligation to pay MADMAX

Edited November 17, 20241 yr by Sweep

4 minutes ago, Sweep said:

Indeed, I guess it depends how risk averse/tolerant people are. I only ever put in spare money, once I've put into more traditional type savings to be honest. I also believe it's a useful mechanism to move money (get payments) without it being traced/tracked, thus preventing the obligation to pay MADMAX

I could write a book on money transfers. Always play by the rules. If you and the tax man are happy, it’s a perfect world.

1 hour ago, Cheese said:

What's the "product"?

There is arguably no product with any currency. So you buy £1M of US Dollars and then sell them six months later you might get more back, maybe less. But there is no big suitcase of cash. 
 

The national currency is safer as it is guaranteed by Govt. but it is not really a thing.  Price of everything is determined by supply and demand. With crypto demand is created by on line rumours. The people making silly money are either the ones creating the initial demand and/or rumours. It is crazy.

But if you watch Antiques Roadshow they often talk about how a certain artists value has rocketed or plummeted in recent years. The art itself has not changed just the demand. 
 

No problem people sticking a few quid in and seeing how it goes but let's be honest all the people who have posted on here about 'getting in early' to make a fortune and not one of them has enough to help buy us a midfield player. US stock market up by about 30% in last two years, maybe a bit safer. 

US stock market up?

Let's hope certain pension funds can still invest in them. 

Be interesting to see how all this plays out.

4 minutes ago, Tonge moor green jacket said:

US stock market up?

Let's hope certain pension funds can still invest in them. 

Be interesting to see how all this plays out.

It is and they can. 
 

Posted earlier in Budget thread that my Pension funds had an even split UK & US 3-4 years ago, now have 5 times as much in US as money has been moved over. 

1 hour ago, Ani said:

There is arguably no product with any currency. So you buy £1M of US Dollars and then sell them six months later you might get more back, maybe less. But there is no big suitcase of cash. 
 

The national currency is safer as it is guaranteed by Govt. but it is not really a thing.  Price of everything is determined by supply and demand. With crypto demand is created by on line rumours. The people making silly money are either the ones creating the initial demand and/or rumours. It is crazy.

But if you watch Antiques Roadshow they often talk about how a certain artists value has rocketed or plummeted in recent years. The art itself has not changed just the demand. 
 

No problem people sticking a few quid in and seeing how it goes but let's be honest all the people who have posted on here about 'getting in early' to make a fortune and not one of them has enough to help buy us a midfield player. US stock market up by about 30% in last two years, maybe a bit safer. 

Surely you don’t watch Antiques road show? 

I got an unsolicited phone call from a nice Asian gentleman yesterday. He informed me that the company he worked for had discovered Bitcoins in my name to the value of £350,000. He wanted to help me to cash them in.

I told him to fuck off.

2 hours ago, Zulu said:

I got an unsolicited phone call from a nice Asian gentleman yesterday. He informed me that the company he worked for had discovered Bitcoins in my name to the value of £350,000. He wanted to help me to cash them in.

I told him to fuck off.

🤣

 

On 17/11/2024 at 18:25, Cheese said:

I have, and there isn't one.

The initial idea with XRP was that it would be the sole coin that could be utilised using Ripple’s international money transfer system. Ripple were trying to get on board with MoneyGram and the likes, and on board with national banks around the world. At the time (7 years ago) all of these kinds of rumours were very strong and there was talk it may overtake SWIFT as the system used worldwide. Its price rocketed on the back of this speculation. None of which has come true to date.

Not saying that it won’t ever happen.

In this respect, XRP does have a purpose.

Rather than the man on the street buying it, it would be bought up by international banks worldwide. 

Each coin is only usable once. So it gets burned after use. So the number in circulation reduces. In turn the value of each coin goes up.

Edited November 19, 20241 yr by Smiley

On 17/11/2024 at 19:26, Cheese said:

Mugs, with fantasies of getting rich.

I presume that you don't own any then 🙂

2 minutes ago, Smiley said:

The initial idea with XRP was that it would be the sole coin that could be utilised using Ripple’s international money transfer system. Ripple were trying to get on board with MoneyGram and the likes, and on board with national banks around the world. At the time (7 years ago) all of these kinds of rumours were very strong and there was talk it may overtake SWIFT as the system used worldwide. Its price rocketed on the back of this speculation. None of which has come true to date.

Not saying that it won’t ever happen.

In this respect, XRP does have a purpose.

Rather than the man on the street buying it, it would be international banks worldwide. 

Each coin is only usable once. So it gets burned after use. So the number in circulation reduces. In turn the value of each coin goes up.

I understand that with XRP.....and to be honest, I sold all mine few months ago when it went up, which is a bit annoying.

It's the meme coins that I don't fully understand, I've got quite a few in Bonk, Pepe, Shiba and Doge, and at present I'm in profit, but I honestly have no idea what they're used for, other than a vehicle for easily moving cash around 😉

2 hours ago, Sweep said:

I understand that with XRP.....and to be honest, I sold all mine few months ago when it went up, which is a bit annoying.

It's the meme coins that I don't fully understand, I've got quite a few in Bonk, Pepe, Shiba and Doge, and at present I'm in profit, but I honestly have no idea what they're used for, other than a vehicle for easily moving cash around 😉

That’s obviously a big one. When to sell. I know people that bought bitcoin in lockdown, they had quite a few between them (around 6 each). They’re all convinced bitcoin will get to over 200k yet they cashed out at 40k and who could blame them.? These are everyday lads who all of a sudden have over 200k in their portfolio. Life changing money. I think XRP could get to 6-7 dollars but I would probably sell the majority of mine at 3-4 

I still made on my XRP, so shouldn't grumble. I may buy back in if/when I flog my meme coins, or when I next need to "hide" some money 😁

https://www.bbc.com/news/articles/cze386d3enpo
 

All legit. 

Could pay for all these new prisons we are going to be building. 
 

https://www.express.co.uk/finance/personalfinance/1978371/Rachel-Reeves-nightmare-decision-over-secret-6bn-Bitcoin-stash/amp

2 hours ago, royal white said:

Could pay for all these new prisons we are going to be building. 
 

https://www.express.co.uk/finance/personalfinance/1978371/Rachel-Reeves-nightmare-decision-over-secret-6bn-Bitcoin-stash/amp

Who ever is in Government wouldn't be able to win here. Sell now, and the price keeps rising, then they've "given it away", keep hold and it crashes, then they should have sold it sooner. 

As the article says, £6B in the grand scheme of things is absolutely nothing.....but it's nice we've taken it from naughty people

 

 

4 minutes ago, Sweep said:

Who ever is in Government wouldn't be able to win here. Sell now, and the price keeps rising, then they've "given it away", keep hold and it crashes, then they should have sold it sooner. 

As the article says, £6B in the grand scheme of things is absolutely nothing.....but it's nice we've taken it from naughty people

 

 

I believe that’s the situation in Germany at the minute after they had sold loads off. Surely building prison using proceeds of crime would be good thing, just don’t sell all at once 

3 minutes ago, royal white said:

I believe that’s the situation in Germany at the minute after they had sold loads off. Surely building prison using proceeds of crime would be good thing, just don’t sell all at once 

Agreed, building prisons with it would be a great way to spend proceeds of crime.