Bob McC
Living the life of Riley
Could you supply an embroidered sampler for an extra fee?
Bitcoin
- Thread starter wacko
- Start date
gez
pfm Member
Nobody can actually be as naive as this post. So I can only conclude you just don't have any compassion for anybody.
gez
pfm Member
Then again there's 99% of the population for which all of that is totally irrelevant and they couldn't care less. so they have no reason to "clock on to that by the age of 21".
Some of the derision on this forum for normal human beings who aren't know it alls or may have some human failings is beyond the pale.
paulfromcamden
Baffled
Of course. Corrections are (unfortunately) a fact of life and all you can do is try and cushion the ride a bit by holding (hopefully) non-correlated assets. Though in practice that doesn't always go so well either.
It's just the scale of the crypto swings that scare me!
With the greatest of respect, the last thing that anyone does is invest in something that is clouded in mystery and has a history of high risk. If you have the necessary acumen then fair enough but experts are in a distinct minority.
It's like Mr Average who bets on the Grand National once a year, they know nothing of the form and it's all down to pure luck that they pick a winner. Even the expert punters know its a risk, let alone for total novices.
If you buy any investment, it's good if you show a profit and tough conkers if you make a loss.
blossomchris
I feel better than James Brown
paulfromcamden
Baffled
Obviously any individual asset can bomb, and nothing is a sure thing, but history suggests a properly diversified portfolio - over the long term - should provide a modest return in most cases.
If that wasn't the case we'd all just be sticking our retirement savings on a three legged nag when we get to 65 and crossing our fingers.
paulfromcamden
Baffled
If you have savings they have to go somewhere and when interest rates are below inflation cash is losing you money in real terms.
matthewr
spɹɐʍʞɔɐq spɹoɔǝɹ ɹnoʎ sʎɐld
I still feel like we are missing the point here.
We do not allow ordinary people to buy things like derivatives for very good reasons. You have to be a "sophisticated investor" (by regulatory standards) to even work in the industry let alone trade. We also strongly regulate financial markets to protect against moral hazard amongst market participants.
But BTC is basically a shit derivative with a bucket load of moral hazard on top and everyone thinks it's just fine.
Well not everyone -- the people who think it's fine are either rubes or, however tangentially, part of the grift.
We do not allow ordinary people to buy things like derivatives for very good reasons. You have to be a "sophisticated investor" (by regulatory standards) to even work in the industry let alone trade. We also strongly regulate financial markets to protect against moral hazard amongst market participants.
But BTC is basically a shit derivative with a bucket load of moral hazard on top and everyone thinks it's just fine.
Well not everyone -- the people who think it's fine are either rubes or, however tangentially, part of the grift.
Darth Vader
From the Dark Side
Cash has recently earned about 5% and if that is saved in an ISA will be tax free and will beat current inflation.
DV
paulfromcamden
Baffled
Though anyone desperate to throw their money away can open a retail spread betting account.
Is there any regulation beyond a pop-up saying 'most people lose loads of money'?
Slightly sweeping statements.
Plenty of 'ordinary people' have made money beyond their wildest dreams on Bitcoin. Just "taking a punt".
No responsible person suggests putting more than 10% of your liquid (not house) funds into Bitcoin.
Most people (including me) are not quite sure if Bitcoin is a Ponzi scheme or a paradigm shift into the future.
Looking at the general rise in value (despite several corrections) I'm guessing more people have made money over the last 9 years than lost...so far.
paulfromcamden
Baffled
Fair enough. Not for me but as I posted upthread I can see the case for allocating a small percentage of a portfolio into a high risk investment.
The thing that scares me is when people espouse it as the One True Religion. That traditional investments are all gamed by The Banksters and fiat currency is a government scam. Then it starts to look a bit like a belief system rather than a rational investment choice.
I file those folk with the God, Guns & Gold preppers.
matthewr
spɹɐʍʞɔɐq spɹoɔǝɹ ɹnoʎ sʎɐld
There is not much of a response to that other than a flat LOL.
Haha. I wish I had put 10% of my liquid funds into Bitcoin just 5 years ago.
I was actually referring to anyone I've read commenting on Bitcoin. I'm far too conservative/scared.
kensalriser
pfm Member
The apocalyptic narrative always accompanies the new paradigm rhetoric.
On a personal observation, crypto seems to be a gateway to alt right politics for some.
kensalriser
pfm Member
You might find windows like that for six months or so every once in a while, but nearly all the time cash is guaranteed to deflate because it's intrinsic. If it wasn't, nothing would ever get done because all wealth would be in cash.
paulfromcamden
Baffled
The thing I don't really get is when the Hillary Clinton Satanic Illuminati New World Order kill off 95% of the global population with their chemtrails and enslave the rest with Bill Gates covid hoax nanochips.... how is anyone going to access their crypto?