If you haven't worked it out yet, tell us what the policy is .... qualifying, non qualifying, whole of life. endowment etc and we'll be able to sort out the answer. It's impossible to answer without that info.
Yes Golfie that is correct over 30yrs (1986). Tomorrow intend to get back in touch with them to ask that question re qualifying or non qualifying and what the Gain figure is for the policy. It was originally more life cover but we decreased the life cover in 2001 so more of the premium were invested. It was called a Freedom Plan.
Considering buying a small e-commerce business as an active investment I guess, with the possibility of it (or another business) becoming a full time thing if it took off.
My dream is to have a portfolio of companies as a venture or vulture capitalist. The last company I worked at were bought by vulture capitalists and it was amazing. I know it's a derogatory term to many but the act of taking a failing company and managing to turn around it's fortunes is amazing (although obviously not always done in the nicest way).
First company acquired.
https://dankpeepshowmemes.com/ is now mine, and more importantly, the instagram and facebook pages "Peep show memes for people who like their suzes big and their beats bigger" with their combined 130,000 followers.
Yes Golfie that is correct over 30yrs (1986). Tomorrow intend to get back in touch with them to ask that question re qualifying or non qualifying and what the Gain figure is for the policy. It was originally more life cover but we decreased the life cover in 2001 so more of the premium were invested. It was called a Freedom Plan.
Sounds like a flexible whole of life plan. Premiums would pay for the cost of the life cover with an element going into "savings". Depending if you went for minimum, standard or maximum cover would mean more (or less) going into the savings element.
Dont think any gains would be taxable but you would have to check the policy docs to confirm.
Yes Golfie that is correct over 30yrs (1986). Tomorrow intend to get back in touch with them to ask that question re qualifying or non qualifying and what the Gain figure is for the policy. It was originally more life cover but we decreased the life cover in 2001 so more of the premium were invested. It was called a Freedom Plan.
Do you have the policy? The policy (probably page one), should have all these details/info.
Yes Golfie that is correct over 30yrs (1986). Tomorrow intend to get back in touch with them to ask that question re qualifying or non qualifying and what the Gain figure is for the policy. It was originally more life cover but we decreased the life cover in 2001 so more of the premium were invested. It was called a Freedom Plan.
Do you have the policy? The policy (probably page one), should have all these details/info.
Yes we have the policy info but having looked through it I see nothing regarding qualifying or non qualifying.
There is mention that 'Payable On' the death of wife. & Payable TO: The owner named in the plan schedule or the person who has become the owner. Which makes me wonder if the policy can be transferred as mentioned by Golfie.
@golfaddick Forgot to say the policy is now held by ReAssure.
ReAssure have been hoovering up lots of defunct Life Companies over the years & as you said earlier unfortunately the telephone staff wont be clued up on that type of policy.
I had to ring them recently about a Pension they had taken over from Legal & General. They had no clue about the charging structure or what funds were available. I knew more than they did. They then sent me information on a totally different client, breaking GDPR rules in the process.
Considering buying a small e-commerce business as an active investment I guess, with the possibility of it (or another business) becoming a full time thing if it took off.
My dream is to have a portfolio of companies as a venture or vulture capitalist. The last company I worked at were bought by vulture capitalists and it was amazing. I know it's a derogatory term to many but the act of taking a failing company and managing to turn around it's fortunes is amazing (although obviously not always done in the nicest way).
First company acquired.
https://dankpeepshowmemes.com/ is now mine, and more importantly, the instagram and facebook pages "Peep show memes for people who like their suzes big and their beats bigger" with their combined 130,000 followers.
Considering buying a small e-commerce business as an active investment I guess, with the possibility of it (or another business) becoming a full time thing if it took off.
My dream is to have a portfolio of companies as a venture or vulture capitalist. The last company I worked at were bought by vulture capitalists and it was amazing. I know it's a derogatory term to many but the act of taking a failing company and managing to turn around it's fortunes is amazing (although obviously not always done in the nicest way).
First company acquired.
https://dankpeepshowmemes.com/ is now mine, and more importantly, the instagram and facebook pages "Peep show memes for people who like their suzes big and their beats bigger" with their combined 130,000 followers.
17 quid for a white tee shirt !!
The best white t-shirts on earth I'll have you know.
Considering buying a small e-commerce business as an active investment I guess, with the possibility of it (or another business) becoming a full time thing if it took off.
My dream is to have a portfolio of companies as a venture or vulture capitalist. The last company I worked at were bought by vulture capitalists and it was amazing. I know it's a derogatory term to many but the act of taking a failing company and managing to turn around it's fortunes is amazing (although obviously not always done in the nicest way).
First company acquired.
https://dankpeepshowmemes.com/ is now mine, and more importantly, the instagram and facebook pages "Peep show memes for people who like their suzes big and their beats bigger" with their combined 130,000 followers.
Huge peep show fan, but I couldn’t even click on a website called dank peep show memes, let alone buy anything off it. Good luck though.
Considering buying a small e-commerce business as an active investment I guess, with the possibility of it (or another business) becoming a full time thing if it took off.
My dream is to have a portfolio of companies as a venture or vulture capitalist. The last company I worked at were bought by vulture capitalists and it was amazing. I know it's a derogatory term to many but the act of taking a failing company and managing to turn around it's fortunes is amazing (although obviously not always done in the nicest way).
First company acquired.
https://dankpeepshowmemes.com/ is now mine, and more importantly, the instagram and facebook pages "Peep show memes for people who like their suzes big and their beats bigger" with their combined 130,000 followers.
Considering buying a small e-commerce business as an active investment I guess, with the possibility of it (or another business) becoming a full time thing if it took off.
My dream is to have a portfolio of companies as a venture or vulture capitalist. The last company I worked at were bought by vulture capitalists and it was amazing. I know it's a derogatory term to many but the act of taking a failing company and managing to turn around it's fortunes is amazing (although obviously not always done in the nicest way).
First company acquired.
https://dankpeepshowmemes.com/ is now mine, and more importantly, the instagram and facebook pages "Peep show memes for people who like their suzes big and their beats bigger" with their combined 130,000 followers.
Interesting, need to sort that website out!
Yeah that's one of the first things on the list, along with a product refresh.
The website quality being awful is actually quite endearing in some ways, and is almost "in theme" with Peep show itself, but yes, some improvements definitely needed.
In final stages of buying a small beauty brand now.
Considering buying a small e-commerce business as an active investment I guess, with the possibility of it (or another business) becoming a full time thing if it took off.
My dream is to have a portfolio of companies as a venture or vulture capitalist. The last company I worked at were bought by vulture capitalists and it was amazing. I know it's a derogatory term to many but the act of taking a failing company and managing to turn around it's fortunes is amazing (although obviously not always done in the nicest way).
First company acquired.
https://dankpeepshowmemes.com/ is now mine, and more importantly, the instagram and facebook pages "Peep show memes for people who like their suzes big and their beats bigger" with their combined 130,000 followers.
Interesting, need to sort that website out!
Yeah that's one of the first things on the list, along with a product refresh.
The website quality being awful is actually quite endearing in some ways, and is almost "in theme" with Peep show itself, but yes, some improvements definitely needed.
In final stages of buying a small beauty brand now.
Have you thought about doing a “how thick is wall” T-shirt with a picture of a Millwall fan?
Considering buying a small e-commerce business as an active investment I guess, with the possibility of it (or another business) becoming a full time thing if it took off.
My dream is to have a portfolio of companies as a venture or vulture capitalist. The last company I worked at were bought by vulture capitalists and it was amazing. I know it's a derogatory term to many but the act of taking a failing company and managing to turn around it's fortunes is amazing (although obviously not always done in the nicest way).
First company acquired.
https://dankpeepshowmemes.com/ is now mine, and more importantly, the instagram and facebook pages "Peep show memes for people who like their suzes big and their beats bigger" with their combined 130,000 followers.
Interesting, need to sort that website out!
Yeah that's one of the first things on the list, along with a product refresh.
The website quality being awful is actually quite endearing in some ways, and is almost "in theme" with Peep show itself, but yes, some improvements definitely needed.
In final stages of buying a small beauty brand now.
Have you thought about doing a “how thick is wall” T-shirt with a picture of a Millwall fan?
Considering buying a small e-commerce business as an active investment I guess, with the possibility of it (or another business) becoming a full time thing if it took off.
My dream is to have a portfolio of companies as a venture or vulture capitalist. The last company I worked at were bought by vulture capitalists and it was amazing. I know it's a derogatory term to many but the act of taking a failing company and managing to turn around it's fortunes is amazing (although obviously not always done in the nicest way).
First company acquired.
https://dankpeepshowmemes.com/ is now mine, and more importantly, the instagram and facebook pages "Peep show memes for people who like their suzes big and their beats bigger" with their combined 130,000 followers.
Interesting, need to sort that website out!
Rob, Rob, there you are! , Heads up mate: after the Crypto meltdown yesterday I popped over to that thread and found someone there, impersonating you (similar handle), who had just bought Bitcoin that week, at 38k. I knew he had to be a fake Rob7Lee, because I recall you dabbling (as I did in a couple of the others) in the initial boom and cashing out at 8k having made a profit.
@golfaddick Forgot to say the policy is now held by ReAssure.
ReAssure have been hoovering up lots of defunct Life Companies over the years & as you said earlier unfortunately the telephone staff wont be clued up on that type of policy.
I had to ring them recently about a Pension they had taken over from Legal & General. They had no clue about the charging structure or what funds were available. I knew more than they did. They then sent me information on a totally different client, breaking GDPR rules in the process.
That sounds ominous. Phoned again today, young lad wasn't sure & unable to answer any of my 3 questions. Therefore I asked if the answers could be put in writing.
They have agreed to send me a policy update which I am told will provide the answers. Will let you know how I get on, 10 - 15 days is expected for the paper work.
If you haven't worked it out yet, tell us what the policy is .... qualifying, non qualifying, whole of life. endowment etc and we'll be able to sort out the answer. It's impossible to answer without that info.
I'm hoping when they send the updated policy through it will contain the answers.
Considering buying a small e-commerce business as an active investment I guess, with the possibility of it (or another business) becoming a full time thing if it took off.
My dream is to have a portfolio of companies as a venture or vulture capitalist. The last company I worked at were bought by vulture capitalists and it was amazing. I know it's a derogatory term to many but the act of taking a failing company and managing to turn around it's fortunes is amazing (although obviously not always done in the nicest way).
First company acquired.
https://dankpeepshowmemes.com/ is now mine, and more importantly, the instagram and facebook pages "Peep show memes for people who like their suzes big and their beats bigger" with their combined 130,000 followers.
Considering buying a small e-commerce business as an active investment I guess, with the possibility of it (or another business) becoming a full time thing if it took off.
My dream is to have a portfolio of companies as a venture or vulture capitalist. The last company I worked at were bought by vulture capitalists and it was amazing. I know it's a derogatory term to many but the act of taking a failing company and managing to turn around it's fortunes is amazing (although obviously not always done in the nicest way).
First company acquired.
https://dankpeepshowmemes.com/ is now mine, and more importantly, the instagram and facebook pages "Peep show memes for people who like their suzes big and their beats bigger" with their combined 130,000 followers.
Interesting, need to sort that website out!
Rob, Rob, there you are! , Heads up mate: after the Crypto meltdown yesterday I popped over to that thread and found someone there, impersonating you (similar handle), who had just bought Bitcoin that week, at 38k. I knew he had to be a fake Rob7Lee, because I recall you dabbling (as I did in a couple of the others) in the initial boom and cashing out at 8k having made a profit.
Considering buying a small e-commerce business as an active investment I guess, with the possibility of it (or another business) becoming a full time thing if it took off.
My dream is to have a portfolio of companies as a venture or vulture capitalist. The last company I worked at were bought by vulture capitalists and it was amazing. I know it's a derogatory term to many but the act of taking a failing company and managing to turn around it's fortunes is amazing (although obviously not always done in the nicest way).
First company acquired.
https://dankpeepshowmemes.com/ is now mine, and more importantly, the instagram and facebook pages "Peep show memes for people who like their suzes big and their beats bigger" with their combined 130,000 followers.
Interesting, need to sort that website out!
Rob, Rob, there you are! , Heads up mate: after the Crypto meltdown yesterday I popped over to that thread and found someone there, impersonating you (similar handle), who had just bought Bitcoin that week, at 38k. I knew he had to be a fake Rob7Lee, because I recall you dabbling (as I did in a couple of the others) in the initial boom and cashing out at 8k having made a profit.
Just thought you ought to know!
Lol, and make some money I did yesterday as well!
if you bought at 38k you're almost 10% up on your entry. Not to shake a stick at, that.
Considering buying a small e-commerce business as an active investment I guess, with the possibility of it (or another business) becoming a full time thing if it took off.
My dream is to have a portfolio of companies as a venture or vulture capitalist. The last company I worked at were bought by vulture capitalists and it was amazing. I know it's a derogatory term to many but the act of taking a failing company and managing to turn around it's fortunes is amazing (although obviously not always done in the nicest way).
First company acquired.
https://dankpeepshowmemes.com/ is now mine, and more importantly, the instagram and facebook pages "Peep show memes for people who like their suzes big and their beats bigger" with their combined 130,000 followers.
Interesting, need to sort that website out!
Rob, Rob, there you are! , Heads up mate: after the Crypto meltdown yesterday I popped over to that thread and found someone there, impersonating you (similar handle), who had just bought Bitcoin that week, at 38k. I knew he had to be a fake Rob7Lee, because I recall you dabbling (as I did in a couple of the others) in the initial boom and cashing out at 8k having made a profit.
Just thought you ought to know!
Lol, and make some money I did yesterday as well!
if you bought at 38k you're almost 10% up on your entry. Not to shake a stick at, that.
I bought some at sub that as well, sold yesterday for a bit over 11%, not had much time today to do any trading.
Considering buying a small e-commerce business as an active investment I guess, with the possibility of it (or another business) becoming a full time thing if it took off.
My dream is to have a portfolio of companies as a venture or vulture capitalist. The last company I worked at were bought by vulture capitalists and it was amazing. I know it's a derogatory term to many but the act of taking a failing company and managing to turn around it's fortunes is amazing (although obviously not always done in the nicest way).
First company acquired.
https://dankpeepshowmemes.com/ is now mine, and more importantly, the instagram and facebook pages "Peep show memes for people who like their suzes big and their beats bigger" with their combined 130,000 followers.
you gotta sell a "men with ven" t shirt, surely?
Men with Ven is 100% one of the things I want to be going for. I was thinking a full on fake removal company t-shirt. "Men with Ven, Croydon removals"
My brother came up with the idea of a personalised "herb" grinder with the phrase "The Secret Ingredient is Crime" written on it which made me laugh.
Considering buying a small e-commerce business as an active investment I guess, with the possibility of it (or another business) becoming a full time thing if it took off.
My dream is to have a portfolio of companies as a venture or vulture capitalist. The last company I worked at were bought by vulture capitalists and it was amazing. I know it's a derogatory term to many but the act of taking a failing company and managing to turn around it's fortunes is amazing (although obviously not always done in the nicest way).
First company acquired.
https://dankpeepshowmemes.com/ is now mine, and more importantly, the instagram and facebook pages "Peep show memes for people who like their suzes big and their beats bigger" with their combined 130,000 followers.
Interesting, need to sort that website out!
Rob, Rob, there you are! , Heads up mate: after the Crypto meltdown yesterday I popped over to that thread and found someone there, impersonating you (similar handle), who had just bought Bitcoin that week, at 38k. I knew he had to be a fake Rob7Lee, because I recall you dabbling (as I did in a couple of the others) in the initial boom and cashing out at 8k having made a profit.
Just thought you ought to know!
Lol, and make some money I did yesterday as well!
Good for you. I was just wondering what made you go back in, but wasnt going to start the discussion on that thread. You presumably have changed how you view Bitcoin as an investment? Or is it just a punt?
Considering buying a small e-commerce business as an active investment I guess, with the possibility of it (or another business) becoming a full time thing if it took off.
My dream is to have a portfolio of companies as a venture or vulture capitalist. The last company I worked at were bought by vulture capitalists and it was amazing. I know it's a derogatory term to many but the act of taking a failing company and managing to turn around it's fortunes is amazing (although obviously not always done in the nicest way).
First company acquired.
https://dankpeepshowmemes.com/ is now mine, and more importantly, the instagram and facebook pages "Peep show memes for people who like their suzes big and their beats bigger" with their combined 130,000 followers.
Interesting, need to sort that website out!
Rob, Rob, there you are! , Heads up mate: after the Crypto meltdown yesterday I popped over to that thread and found someone there, impersonating you (similar handle), who had just bought Bitcoin that week, at 38k. I knew he had to be a fake Rob7Lee, because I recall you dabbling (as I did in a couple of the others) in the initial boom and cashing out at 8k having made a profit.
Just thought you ought to know!
Lol, and make some money I did yesterday as well!
Good for you. I was just wondering what made you go back in, but wasnt going to start the discussion on that thread. You presumably have changed how you view Bitcoin as an investment? Or is it just a punt?
I've been in and out maybe 75 times in the past 4-5 months.
It's highly volatile and I only do it with some fun money, but having watched it for a while it's relatively easy to get in and out with small profits in short time spans. As soon as I buy I put a stop loss and a profit price, I think only 3 times it's hit the stop loss the remainder it's hit the profit price.
I still don't fully understand it, it's price is often driven by people like Musk. It's never going to form a large part of my investments, bit of fun and may make some decent money along the way. It's probably covered every take away I've had the past 6 months (£50 a week). and my weekly streaming cost
Having been in and out of the Crypto thread in the same way you've been in and out of the market, I've worked out how the thread makes me uneasy about the whole crypto thing. Those that seem to make money out of it, have become skilled at reading the price behaviour of the various assets. That is what they talk about endlessly. In doing so, there's a lot of impenetrable jargon that probably fuels a Private Eye parody, and some high-tech looking charts which look like what people see on the screens of a bank trading floor in a TV drama. As well as Bitcoin, a number of other crypto tokens appear and are extensively discussed. But only in a certain way. They talk about the token's price movements. They don't talk about the underlying asset they are buying, when they buy the token. Take a new fave of theirs, Zil. I love that one, because for me a Zil is a Soviet-era limousine. I've asked what Zil, as an asset, actually is. Answer came there not. Now, and this isn't a CL thing, crypto fans get very chippy about questions like that. But that's what makes me uneasy. If someone talks about a share, or a fund on here, they explain why they think, in the real world, that share or fund might make the profits that pay a dividend and/or raise the share/fund price. They might even do the same for gold, if they are brave enough. But crypto, nah. That sort of discussion is for old gits like me who don't get it. Well I'm still willing to get it, but in the context of savings and investments, not gambling.
Bitcoin is considered to be separate from the other cryptos it seems, because it, alone, is touted as a currency - (although some seem to try and push ethereum into that class) In this concise article in the new FT Unhedged column Robert Armstrong argues "Bitcoin is equity, not money". (He has taken a pasting for it, which he fully expected). I wonder if you agree, Rob, but suspect that you might shrug your shoulders and say, not sure, only dabbling a little. But it matters because as we can see on the other thread, at least one Lifer seems to have kissed goodbye to £10k or so that he could ill afford to lose.
Having been in and out of the Crypto thread in the same way you've been in and out of the market, I've worked out how the thread makes me uneasy about the whole crypto thing. Those that seem to make money out of it, have become skilled at reading the price behaviour of the various assets. That is what they talk about endlessly. In doing so, there's a lot of impenetrable jargon that probably fuels a Private Eye parody, and some high-tech looking charts which look like what people see on the screens of a bank trading floor in a TV drama. As well as Bitcoin, a number of other crypto tokens appear and are extensively discussed. But only in a certain way. They talk about the token's price movements. They don't talk about the underlying asset they are buying, when they buy the token. Take a new fave of theirs, Zil. I love that one, because for me a Zil is a Soviet-era limousine. I've asked what Zil, as an asset, actually is. Answer came there not. Now, and this isn't a CL thing, crypto fans get very chippy about questions like that. But that's what makes me uneasy. If someone talks about a share, or a fund on here, they explain why they think, in the real world, that share or fund might make the profits that pay a dividend and/or raise the share/fund price. They might even do the same for gold, if they are brave enough. But crypto, nah. That sort of discussion is for old gits like me who don't get it. Well I'm still willing to get it, but in the context of savings and investments, not gambling.
Bitcoin is considered to be separate from the other cryptos it seems, because it, alone, is touted as a currency - (although some seem to try and push ethereum into that class) In this concise article in the new FT Unhedged column Robert Armstrong argues "Bitcoin is equity, not money". (He has taken a pasting for it, which he fully expected). I wonder if you agree, Rob, but suspect that you might shrug your shoulders and say, not sure, only dabbling a little. But it matters because as we can see on the other thread, at least one Lifer seems to have kissed goodbye to £10k or so that he could ill afford to lose.
I don't disagree, I still struggle with the 'what am I actually buying'. As I see it there isn't an underlying asset like shares, it's a currency, all be it a digital one rather than a physical 2p piece. It's also not really regulated and as we see some big players can manipulate the market and price quite easily (both up and down).
It's highly volatile as we all know, for every person who's made 10's of thousands there are people who've lost the same.
I'd need to read back but I think the £10k loss you refer to is a loss of profit rather than a true loss, but there are and will be people who have lost very large sums (even if, like shares, it's technically until crystallised a paper loss).
My advice to anyone looking at buying bitcoin or similar is by all means do so but only if you are fully prepared to lose every single penny. Sadly many see it as simply a get rich quick scheme, they will be the one's who lose.
For me, I'm clearly not an expert on the subject but just play the price movements for a bit of fun. Even if Bitcoin etc went down to 0.000000001p with the sums I'm playing with to me it really doesn't matter as it's around 0.1% of my portfolio of investments (not inc cash house equity etc).
Just for a balanced view, that 10k loss of profit, would take you 400 months of consecutive £25 premium bond wins. (I use that as a guide, as this thread seems to mainly be people celebrating £25 bond wins on god knows how much investment.)
Comments
https://dankpeepshowmemes.com/ is now mine, and more importantly, the instagram and facebook pages "Peep show memes for people who like their suzes big and their beats bigger" with their combined 130,000 followers.
Dont think any gains would be taxable but you would have to check the policy docs to confirm.
The policy (probably page one), should have all these details/info.
There is mention that 'Payable On' the death of wife. & Payable TO: The owner named in the plan schedule or the person who has become the owner. Which makes me wonder if the policy can be transferred as mentioned by Golfie.
I had to ring them recently about a Pension they had taken over from Legal & General. They had no clue about the charging structure or what funds were available. I knew more than they did. They then sent me information on a totally different client, breaking GDPR rules in the process.
This marketing stuff is easy.
The website quality being awful is actually quite endearing in some ways, and is almost "in theme" with Peep show itself, but yes, some improvements definitely needed.
In final stages of buying a small beauty brand now.
Just thought you ought to know!
They have agreed to send me a policy update which I am told will provide the answers. Will let you know how I get on, 10 - 15 days is expected for the paper work.
My brother came up with the idea of a personalised "herb" grinder with the phrase "The Secret Ingredient is Crime" written on it which made me laugh.
It's highly volatile and I only do it with some fun money, but having watched it for a while it's relatively easy to get in and out with small profits in short time spans. As soon as I buy I put a stop loss and a profit price, I think only 3 times it's hit the stop loss the remainder it's hit the profit price.
I still don't fully understand it, it's price is often driven by people like Musk. It's never going to form a large part of my investments, bit of fun and may make some decent money along the way. It's probably covered every take away I've had the past 6 months (£50 a week). and my weekly streaming cost
Having been in and out of the Crypto thread in the same way you've been in and out of the market, I've worked out how the thread makes me uneasy about the whole crypto thing. Those that seem to make money out of it, have become skilled at reading the price behaviour of the various assets. That is what they talk about endlessly. In doing so, there's a lot of impenetrable jargon that probably fuels a Private Eye parody, and some high-tech looking charts which look like what people see on the screens of a bank trading floor in a TV drama. As well as Bitcoin, a number of other crypto tokens appear and are extensively discussed. But only in a certain way. They talk about the token's price movements. They don't talk about the underlying asset they are buying, when they buy the token. Take a new fave of theirs, Zil. I love that one, because for me a Zil is a Soviet-era limousine. I've asked what Zil, as an asset, actually is. Answer came there not. Now, and this isn't a CL thing, crypto fans get very chippy about questions like that. But that's what makes me uneasy. If someone talks about a share, or a fund on here, they explain why they think, in the real world, that share or fund might make the profits that pay a dividend and/or raise the share/fund price. They might even do the same for gold, if they are brave enough. But crypto, nah. That sort of discussion is for old gits like me who don't get it. Well I'm still willing to get it, but in the context of savings and investments, not gambling.
Bitcoin is considered to be separate from the other cryptos it seems, because it, alone, is touted as a currency - (although some seem to try and push ethereum into that class) In this concise article in the new FT Unhedged column Robert Armstrong argues "Bitcoin is equity, not money". (He has taken a pasting for it, which he fully expected). I wonder if you agree, Rob, but suspect that you might shrug your shoulders and say, not sure, only dabbling a little. But it matters because as we can see on the other thread, at least one Lifer seems to have kissed goodbye to £10k or so that he could ill afford to lose.
It's highly volatile as we all know, for every person who's made 10's of thousands there are people who've lost the same.
I'd need to read back but I think the £10k loss you refer to is a loss of profit rather than a true loss, but there are and will be people who have lost very large sums (even if, like shares, it's technically until crystallised a paper loss).
My advice to anyone looking at buying bitcoin or similar is by all means do so but only if you are fully prepared to lose every single penny. Sadly many see it as simply a get rich quick scheme, they will be the one's who lose.
For me, I'm clearly not an expert on the subject but just play the price movements for a bit of fun. Even if Bitcoin etc went down to 0.000000001p with the sums I'm playing with to me it really doesn't matter as it's around 0.1% of my portfolio of investments (not inc cash house equity etc).
The bad players lose their money but have a good time and gain some experience.
The good players make a bit of money for their trouble.
What could possibly go wrong?