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Savings and Investments thread
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I mean there's a certain irony that this is posted in the investments and savings threads where acronyms are common place (some of which I don't understand and (to use a meme) at this point i'm too afraid to ask).golfaddick said:
Martin Lewis mentioned on his moneyshow last night that PayPal were closing dormant accounts. Iirc all he said you had to do was to log on & that would reactivate it again.Bangkokaddick said:PragueAddick said:
What does that mean, "stake it" ? And why, (question to all), does there have to be this inpenetrable language around the trading of this stuff. Don't the disciples realise that it makes them sound like a cult?kentaddick said:
for the love of god, stake it mate.Bangkokaddick said:I dabbled a while ago in crypto and an still sitting on a couple of ethereum. I nearly sold it last week, only to find I couldn't attach my ledger to the computer! None of this hassle with online ETF trading.If and when a crypto ETF comes on the market I might buy. I've looked at GBTC but instead invested in an ETF that includes that fund it as part of its holding. The 2% fee is a bit off-putting. I have one blockchain tech ETF which is about 1.25% of my portfolio.I recently took some profit from my tech ETFs as I just wanted to rebalance. 20% in specific tech is enough.
It's all interesting but I'm not going to be persuaded until the FT Alphaville people are persuaded too. They are not old gits like me, and usually right on the money. They are massive crypto-sceptics, sometimes brutally so.Thanks Prague. I didn't have a clue either but it seems to make sense now. My new cable arrived today so I should be able to access my crypto.Totally different subject, my parents received a letter atating that Paypal was about to close my account. Turns out it was an old one I'd forgotten about with an old email address. I had enough in there for five Valley Pass streams! Not a lot but it was like money for nothing!
As for the last 2 pages of this thread......I echo what @Pragueaddick has just said. Call me luddite but it seems to me that the ITK's want to make it all sound so grand so they talk a strange language to justify it all. The first sentence of @kentaddick's post at 11.18 this morning says it all. Asked to keep it simple & started off talking gobbydegook.
But to break down my first sentence: You can stake it in a liquidity pool on a decentralised exchange like uniswap
You can stake it - using a secured smart contract, can put your crypto into with other users, so that collectively you have a lot of crypto and can then lend to other users who want to buy/sell, you are then rewarded when you choose to withdraw your crypto from this pool.
liquidity pool: a pool of lots of people's cryptos. Think of it like a decentralised fund... almost
decentralised exchange: The exchange where you can buy and sell is decentralised, meaning the company that runs the exchange has 0 user's crypto themselves. You simply connect your wallet (for instance a hardware wallet) with the app and you can swap tokens.
uniswap: the name of a popular decentralised exchange.
Funny you should mention paypal, as they've recently announced they will add crypto to their platform. They will be a centralised exchange of sorts - meaning they will "physically" own the crypto wallet that you "own".PragueAddick said:
Fair point, mate, you may be right and if you are, it should be in a lot less than 25 years. But you are rather assuming that the resistance is Luddite, conservative, in nature, but it's not my case. Soon as I saw email at work (my mate was showing me his Compuserve version I think in late 1992) I wanted it there and then. Using it regularly at work from 94. I resisted a mobile until 96 but that was more because the people who had them earlier were so ostentatious about them. I got quite excited by WAP info by text on my phone before Netscape took off, and when it did, I was right on it. All because the real world uses, in business especially, were obvious.kentaddick said:"what's with all this talk of 'e'mail? 'i - m's' and the such? Don't you realise it makes you sound like a cult? This internet will never catch on if i have to have the phone lines down to send an electronic mail - i could just ring them and get an instant answer"
Not to sound too flippant... but i believe this is how we're going to look at this type of conversation in 25 years.
Thanks for the stake explanation. But you guys have a complete lexicon on that thread!. But then again I suppose derivatives traders and the like have their own lexicon. You guys seem to have more in common with that type, needing to trade every hour in order to profit - yet AFAIK none of you are professionals paid to do this trading, and the biggest worry I have (for you guys) is that you collectively don't seem to know as much about what you are trading as even a day trader in orthodox stocks.
But not to worry, I'm a cautious investor anyway. I'm keeping an open mind, but until I can explain what all this stuff does in the real world, I'm on the sidelines. You have to admit that 130% in 2 years is not bad, but it's even better when you reflect that I can wake up tomorrow and the worst situation reasonably imaginable is that it will be only 125% - whereas if I understand that thread, you lost 11% in a couple of hours! But I guess you are little more than half my age, of course age changes risk aversion.
I mean I can't argue with your position, and it's a good one. If I make it out like I'm pumping all my savings into crypto - absolutely not. If everything i put into crypto went to 0 today it would have only really cost me anything that i haven't kind of written off already. I see trading it as a bit of a game that I'm trying to learn (my trading account literally only has a hundred quid in it). I've got one or two pretty surefire moonshots in my metamask wallet that will probably 10x or even potentially 100x, but again, I've only put in what I could have really spent on a very nice dinner at a michelin star'd restaurant.
I actually originally posted on here to see what orthodox stocks some one in my position (late 20's, a bit of spare cash starting to roll around), better that, a beginner at stocks should get?
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So @kentaddick, if I was to dabble a small amount just to get a feel what would be the best way forward for a beginner? Was thinking of using coin base to purchase Ripple?0
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Ha, all this crypto talk and it looks like I've "invested" more in CAFC ending up top half this season.
I retired at 49 & should have earlier.
I'll stick to the stock market, savings and things I fully understand.
The only time I invested in shares I didn't understand (some technology shares 2000) I got burnt.
But if it's only a game, a laugh, staking less money than people do on a meal or a day at the races, then I think some people may have been taken in by the impression given of making a fortune.0 -
Well, that's a drip-feeed and a half. After all that you're only talking a few hundred quid if that.kentaddick said:
I mean there's a certain irony that this is posted in the investments and savings threads where acronyms are common place (some of which I don't understand and (to use a meme) at this point i'm too afraid to ask).golfaddick said:
Martin Lewis mentioned on his moneyshow last night that PayPal were closing dormant accounts. Iirc all he said you had to do was to log on & that would reactivate it again.Bangkokaddick said:PragueAddick said:
What does that mean, "stake it" ? And why, (question to all), does there have to be this inpenetrable language around the trading of this stuff. Don't the disciples realise that it makes them sound like a cult?kentaddick said:
for the love of god, stake it mate.Bangkokaddick said:I dabbled a while ago in crypto and an still sitting on a couple of ethereum. I nearly sold it last week, only to find I couldn't attach my ledger to the computer! None of this hassle with online ETF trading.If and when a crypto ETF comes on the market I might buy. I've looked at GBTC but instead invested in an ETF that includes that fund it as part of its holding. The 2% fee is a bit off-putting. I have one blockchain tech ETF which is about 1.25% of my portfolio.I recently took some profit from my tech ETFs as I just wanted to rebalance. 20% in specific tech is enough.
It's all interesting but I'm not going to be persuaded until the FT Alphaville people are persuaded too. They are not old gits like me, and usually right on the money. They are massive crypto-sceptics, sometimes brutally so.Thanks Prague. I didn't have a clue either but it seems to make sense now. My new cable arrived today so I should be able to access my crypto.Totally different subject, my parents received a letter atating that Paypal was about to close my account. Turns out it was an old one I'd forgotten about with an old email address. I had enough in there for five Valley Pass streams! Not a lot but it was like money for nothing!
As for the last 2 pages of this thread......I echo what @Pragueaddick has just said. Call me luddite but it seems to me that the ITK's want to make it all sound so grand so they talk a strange language to justify it all. The first sentence of @kentaddick's post at 11.18 this morning says it all. Asked to keep it simple & started off talking gobbydegook.
But to break down my first sentence: You can stake it in a liquidity pool on a decentralised exchange like uniswap
You can stake it - using a secured smart contract, can put your crypto into with other users, so that collectively you have a lot of crypto and can then lend to other users who want to buy/sell, you are then rewarded when you choose to withdraw your crypto from this pool.
liquidity pool: a pool of lots of people's cryptos. Think of it like a decentralised fund... almost
decentralised exchange: The exchange where you can buy and sell is decentralised, meaning the company that runs the exchange has 0 user's crypto themselves. You simply connect your wallet (for instance a hardware wallet) with the app and you can swap tokens.
uniswap: the name of a popular decentralised exchange.
Funny you should mention paypal, as they've recently announced they will add crypto to their platform. They will be a centralised exchange of sorts - meaning they will "physically" own the crypto wallet that you "own".PragueAddick said:
Fair point, mate, you may be right and if you are, it should be in a lot less than 25 years. But you are rather assuming that the resistance is Luddite, conservative, in nature, but it's not my case. Soon as I saw email at work (my mate was showing me his Compuserve version I think in late 1992) I wanted it there and then. Using it regularly at work from 94. I resisted a mobile until 96 but that was more because the people who had them earlier were so ostentatious about them. I got quite excited by WAP info by text on my phone before Netscape took off, and when it did, I was right on it. All because the real world uses, in business especially, were obvious.kentaddick said:"what's with all this talk of 'e'mail? 'i - m's' and the such? Don't you realise it makes you sound like a cult? This internet will never catch on if i have to have the phone lines down to send an electronic mail - i could just ring them and get an instant answer"
Not to sound too flippant... but i believe this is how we're going to look at this type of conversation in 25 years.
Thanks for the stake explanation. But you guys have a complete lexicon on that thread!. But then again I suppose derivatives traders and the like have their own lexicon. You guys seem to have more in common with that type, needing to trade every hour in order to profit - yet AFAIK none of you are professionals paid to do this trading, and the biggest worry I have (for you guys) is that you collectively don't seem to know as much about what you are trading as even a day trader in orthodox stocks.
But not to worry, I'm a cautious investor anyway. I'm keeping an open mind, but until I can explain what all this stuff does in the real world, I'm on the sidelines. You have to admit that 130% in 2 years is not bad, but it's even better when you reflect that I can wake up tomorrow and the worst situation reasonably imaginable is that it will be only 125% - whereas if I understand that thread, you lost 11% in a couple of hours! But I guess you are little more than half my age, of course age changes risk aversion.
I mean I can't argue with your position, and it's a good one. If I make it out like I'm pumping all my savings into crypto - absolutely not. If everything i put into crypto went to 0 today it would have only really cost me anything that i haven't kind of written off already. I see trading it as a bit of a game that I'm trying to learn (my trading account literally only has a hundred quid in it). I've got one or two pretty surefire moonshots in my metamask wallet that will probably 10x or even potentially 100x, but again, I've only put in what I could have really spent on a very nice dinner at a michelin star'd restaurant.
I actually originally posted on here to see what orthodox stocks some one in my position (late 20's, a bit of spare cash starting to roll around), better that, a beginner at stocks should get?
My advice, as a financial adviser of 30 years standing, is to start a stocks & shares ISA & put in a regular monthly amount. You can usually start with as little as £25pm, but imo it's really not worth doing unless you are looking at £100pm+. Probably best starting with a simple managed fund, one with a mixture of both shares & bonds.1 -
Yeah but when it's up 6,000,000% on a triple sud buyback on the clarky cat exchange with signals of a binary billion bonanza through the eye of the Buffet Needle (7/12ths) you will regret it.Covered End said:Ha, all this crypto talk and it looks like I've "invested" more in CAFC ending up top half this season.
I retired at 49 & should have earlier.
I'll stick to the stock market, savings and things I fully understand.
The only time I invested in shares I didn't understand (some technology shares 2000) I got burnt.
But if it's only a game, a laugh, staking less money than people do on a meal or a day at the races, then I think some people may have been taken in by the impression given of making a fortune.
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Looking for a SIPP, anyone got any tips of what to look out for?0
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Any particular ISA you’d recommend?golfaddick said:
Well, that's a drip-feeed and a half. After all that you're only talking a few hundred quid if that.kentaddick said:
I mean there's a certain irony that this is posted in the investments and savings threads where acronyms are common place (some of which I don't understand and (to use a meme) at this point i'm too afraid to ask).golfaddick said:
Martin Lewis mentioned on his moneyshow last night that PayPal were closing dormant accounts. Iirc all he said you had to do was to log on & that would reactivate it again.Bangkokaddick said:PragueAddick said:
What does that mean, "stake it" ? And why, (question to all), does there have to be this inpenetrable language around the trading of this stuff. Don't the disciples realise that it makes them sound like a cult?kentaddick said:
for the love of god, stake it mate.Bangkokaddick said:I dabbled a while ago in crypto and an still sitting on a couple of ethereum. I nearly sold it last week, only to find I couldn't attach my ledger to the computer! None of this hassle with online ETF trading.If and when a crypto ETF comes on the market I might buy. I've looked at GBTC but instead invested in an ETF that includes that fund it as part of its holding. The 2% fee is a bit off-putting. I have one blockchain tech ETF which is about 1.25% of my portfolio.I recently took some profit from my tech ETFs as I just wanted to rebalance. 20% in specific tech is enough.
It's all interesting but I'm not going to be persuaded until the FT Alphaville people are persuaded too. They are not old gits like me, and usually right on the money. They are massive crypto-sceptics, sometimes brutally so.Thanks Prague. I didn't have a clue either but it seems to make sense now. My new cable arrived today so I should be able to access my crypto.Totally different subject, my parents received a letter atating that Paypal was about to close my account. Turns out it was an old one I'd forgotten about with an old email address. I had enough in there for five Valley Pass streams! Not a lot but it was like money for nothing!
As for the last 2 pages of this thread......I echo what @Pragueaddick has just said. Call me luddite but it seems to me that the ITK's want to make it all sound so grand so they talk a strange language to justify it all. The first sentence of @kentaddick's post at 11.18 this morning says it all. Asked to keep it simple & started off talking gobbydegook.
But to break down my first sentence: You can stake it in a liquidity pool on a decentralised exchange like uniswap
You can stake it - using a secured smart contract, can put your crypto into with other users, so that collectively you have a lot of crypto and can then lend to other users who want to buy/sell, you are then rewarded when you choose to withdraw your crypto from this pool.
liquidity pool: a pool of lots of people's cryptos. Think of it like a decentralised fund... almost
decentralised exchange: The exchange where you can buy and sell is decentralised, meaning the company that runs the exchange has 0 user's crypto themselves. You simply connect your wallet (for instance a hardware wallet) with the app and you can swap tokens.
uniswap: the name of a popular decentralised exchange.
Funny you should mention paypal, as they've recently announced they will add crypto to their platform. They will be a centralised exchange of sorts - meaning they will "physically" own the crypto wallet that you "own".PragueAddick said:
Fair point, mate, you may be right and if you are, it should be in a lot less than 25 years. But you are rather assuming that the resistance is Luddite, conservative, in nature, but it's not my case. Soon as I saw email at work (my mate was showing me his Compuserve version I think in late 1992) I wanted it there and then. Using it regularly at work from 94. I resisted a mobile until 96 but that was more because the people who had them earlier were so ostentatious about them. I got quite excited by WAP info by text on my phone before Netscape took off, and when it did, I was right on it. All because the real world uses, in business especially, were obvious.kentaddick said:"what's with all this talk of 'e'mail? 'i - m's' and the such? Don't you realise it makes you sound like a cult? This internet will never catch on if i have to have the phone lines down to send an electronic mail - i could just ring them and get an instant answer"
Not to sound too flippant... but i believe this is how we're going to look at this type of conversation in 25 years.
Thanks for the stake explanation. But you guys have a complete lexicon on that thread!. But then again I suppose derivatives traders and the like have their own lexicon. You guys seem to have more in common with that type, needing to trade every hour in order to profit - yet AFAIK none of you are professionals paid to do this trading, and the biggest worry I have (for you guys) is that you collectively don't seem to know as much about what you are trading as even a day trader in orthodox stocks.
But not to worry, I'm a cautious investor anyway. I'm keeping an open mind, but until I can explain what all this stuff does in the real world, I'm on the sidelines. You have to admit that 130% in 2 years is not bad, but it's even better when you reflect that I can wake up tomorrow and the worst situation reasonably imaginable is that it will be only 125% - whereas if I understand that thread, you lost 11% in a couple of hours! But I guess you are little more than half my age, of course age changes risk aversion.
I mean I can't argue with your position, and it's a good one. If I make it out like I'm pumping all my savings into crypto - absolutely not. If everything i put into crypto went to 0 today it would have only really cost me anything that i haven't kind of written off already. I see trading it as a bit of a game that I'm trying to learn (my trading account literally only has a hundred quid in it). I've got one or two pretty surefire moonshots in my metamask wallet that will probably 10x or even potentially 100x, but again, I've only put in what I could have really spent on a very nice dinner at a michelin star'd restaurant.
I actually originally posted on here to see what orthodox stocks some one in my position (late 20's, a bit of spare cash starting to roll around), better that, a beginner at stocks should get?
My advice, as a financial adviser of 30 years standing, is to start a stocks & shares ISA & put in a regular monthly amount. You can usually start with as little as £25pm, but imo it's really not worth doing unless you are looking at £100pm+. Probably best starting with a simple managed fund, one with a mixture of both shares & bonds.0 -
Give @kentaddick a break please people, he has always been the one from the CryptoLifers most willing to take time to share what he knows, and has never given it the biggun, whereas a couple of years ago some others were - and then the whole thread went quiet until recently.
KA I have to tell you that Golfie’s advice, to open a SIPP and invest a regular monthly amount, is the very best advice you can get, even though it looks soooo boring. The way to look at it is not against cryptos but against what you can get from a bank. You could, on one of the big platforms, have a SIPP, and separately a shares and funds account where you could gradually get more adventurous, and learn from inevitable mistakes. You’re even younger than I realised, and if you start now with the SIPP, in the first few years you’ll be unimpressed but after 10 years you’ll be happy with it, and after 30, well smug. And then you can toast the old gits on here who pushed you into it:-)6 -
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Maybe just opening an ISA account with something like hl.co.uk might be a good way to start "saving".
You can buy easily buy and sell funds and try to make a bit of money. It can be fun!
I actually believe younger people in their twenties / thirties should be encouraged to "mess about" a bit on the stock / bond market. They might make a few stupid mistakes but it's difficult to go that badly wrong.
It would mean that by the time people have large pension pots to worry about, they sort of know what they are doing!
It seems crazy that people are able to learn to cash in/ cash out and make weird bets that I cannot begin to comprehend on football matches. But don't have a clue what to do with their pension pot when it becomes available.
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You don't necessarily need a SIPP, a bulk standard pension will do, just depends on what you want to do - ie, put away a few hundred a month for your retirement & forget about type of thing or actively monitor it & switch in & out of funds as & when.shine166 said:
The former a Personal Pension with Royal Life would suffice for now. They offer a Governed Portfolio range which you can choose 1of 9 different portfolios to meet your risk appetite & the portfolio invests in a range of equity funds, bonds & property. The strategy is reviewed every quarter & they rebalance your funds accordingly. For this the basic charge is 0.9% but is reduced the more money is in there (over £100k then your looking at less than 0.5%)
The latter then a SIPP is probably your best bet and nowdays these can be found on a "platform" such as Old Mutual, Fidelity, Standard Life, Scottish Widows or Hargreaves Landsdown. Charges are higher with these as there is first the platform charge (around 0.25%-0.4%) and then the individual fund charge. All in all you should be able to do it for around 1.5%, but really depends what funds you ultimately invest in.
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Buy Bitcoin. The only reason xrp (ripple) has been pumping so hard is because they’re going to airdrop extra crypto to people who hold it’s wallet (free money), that’s gonna dump in the next couple of days. Tbh thinking of opening a short on it. Xrp is mostly owned by ripple and their founder so they’re able to artificially keep the price down.dajavouslagan said:So @kentaddick, if I was to dabble a small amount just to get a feel what would be the best way forward for a beginner? Was thinking of using coin base to purchase Ripple?
Bitcoin will be worth a lot more in 10 years than it is now. Hell 10 years ago what would now make you a millionaire many times over was used to buy pizza.
There’s some one on the crypto thread that’s probably going to be a millionaire in the next few years in crypto assets from only £500. I’m holding one or two assets that will 10x in the next year, maybe 100x in the next 3, and maybe 1000x at some point if all goes well. You can make a fortune going in small early. Especially if you believe that the world is going to become more and more integrated with the internet.Covered End said:Ha, all this crypto talk and it looks like I've "invested" more in CAFC ending up top half this season.
I retired at 49 & should have earlier.
I'll stick to the stock market, savings and things I fully understand.
The only time I invested in shares I didn't understand (some technology shares 2000) I got burnt.
But if it's only a game, a laugh, staking less money than people do on a meal or a day at the races, then I think some people may have been taken in by the impression given of making a fortune.1 -
How much are you going to be paying in? As Golfie says many charge a platform fee which is a % of the fund value.shine166 said:
I'm with interactive investor for the bulk of mine, flat fee of £19.99 a month and nothing extra for regular investments. For the first 6 months they waive the £10 SIPP fee so only £9.99 (when I opened it was 12 months). With that you get one free trade a month in effect as well (but again no charge for a regular DD investment).
If you are going to be putting a lot in a fixed fee may be beneficial long term, otherwise one of the % based. You can always move it in years to come when the values warrant taking a fixed fee.
I was always happy with the fidelity platform, only switched really as the fee's began to mount up as my fund got quite big. I save around £1800 a year on fee's (a bit more in year one) with ii compared to Fidelity. Sub 70k fund Fidelity would be cheaper.1 -
Let's hope so.kentaddick said:
Buy Bitcoin. The only reason xrp (ripple) has been pumping so hard is because they’re going to airdrop extra crypto to people who hold it’s wallet (free money), that’s gonna dump in the next couple of days. Tbh thinking of opening a short on it. Xrp is mostly owned by ripple and their founder so they’re able to artificially keep the price down.dajavouslagan said:So @kentaddick, if I was to dabble a small amount just to get a feel what would be the best way forward for a beginner? Was thinking of using coin base to purchase Ripple?
Bitcoin will be worth a lot more in 10 years than it is now. Hell 10 years ago what would now make you a millionaire many times over was used to buy pizza.
There’s some one on the crypto thread that’s probably going to be a millionaire next year in crypto assets from only £500. I’m holding one or two assets that will 10x in the next year, maybe 100x in the next 3, and maybe 1000x at some point if all goes well. You can make a fortune going in small early. Especially if you believe that the world is going to become more and more integrated with the internet.Covered End said:Ha, all this crypto talk and it looks like I've "invested" more in CAFC ending up top half this season.
I retired at 49 & should have earlier.
I'll stick to the stock market, savings and things I fully understand.
The only time I invested in shares I didn't understand (some technology shares 2000) I got burnt.
But if it's only a game, a laugh, staking less money than people do on a meal or a day at the races, then I think some people may have been taken in by the impression given of making a fortune.0 -
I think I could do £100 a month. Was saving roughly that for an engagement ring earlier in the year, so can probably do that. Thanks.golfaddick said:
Well, that's a drip-feeed and a half. After all that you're only talking a few hundred quid if that.kentaddick said:
I mean there's a certain irony that this is posted in the investments and savings threads where acronyms are common place (some of which I don't understand and (to use a meme) at this point i'm too afraid to ask).golfaddick said:
Martin Lewis mentioned on his moneyshow last night that PayPal were closing dormant accounts. Iirc all he said you had to do was to log on & that would reactivate it again.Bangkokaddick said:PragueAddick said:
What does that mean, "stake it" ? And why, (question to all), does there have to be this inpenetrable language around the trading of this stuff. Don't the disciples realise that it makes them sound like a cult?kentaddick said:
for the love of god, stake it mate.Bangkokaddick said:I dabbled a while ago in crypto and an still sitting on a couple of ethereum. I nearly sold it last week, only to find I couldn't attach my ledger to the computer! None of this hassle with online ETF trading.If and when a crypto ETF comes on the market I might buy. I've looked at GBTC but instead invested in an ETF that includes that fund it as part of its holding. The 2% fee is a bit off-putting. I have one blockchain tech ETF which is about 1.25% of my portfolio.I recently took some profit from my tech ETFs as I just wanted to rebalance. 20% in specific tech is enough.
It's all interesting but I'm not going to be persuaded until the FT Alphaville people are persuaded too. They are not old gits like me, and usually right on the money. They are massive crypto-sceptics, sometimes brutally so.Thanks Prague. I didn't have a clue either but it seems to make sense now. My new cable arrived today so I should be able to access my crypto.Totally different subject, my parents received a letter atating that Paypal was about to close my account. Turns out it was an old one I'd forgotten about with an old email address. I had enough in there for five Valley Pass streams! Not a lot but it was like money for nothing!
As for the last 2 pages of this thread......I echo what @Pragueaddick has just said. Call me luddite but it seems to me that the ITK's want to make it all sound so grand so they talk a strange language to justify it all. The first sentence of @kentaddick's post at 11.18 this morning says it all. Asked to keep it simple & started off talking gobbydegook.
But to break down my first sentence: You can stake it in a liquidity pool on a decentralised exchange like uniswap
You can stake it - using a secured smart contract, can put your crypto into with other users, so that collectively you have a lot of crypto and can then lend to other users who want to buy/sell, you are then rewarded when you choose to withdraw your crypto from this pool.
liquidity pool: a pool of lots of people's cryptos. Think of it like a decentralised fund... almost
decentralised exchange: The exchange where you can buy and sell is decentralised, meaning the company that runs the exchange has 0 user's crypto themselves. You simply connect your wallet (for instance a hardware wallet) with the app and you can swap tokens.
uniswap: the name of a popular decentralised exchange.
Funny you should mention paypal, as they've recently announced they will add crypto to their platform. They will be a centralised exchange of sorts - meaning they will "physically" own the crypto wallet that you "own".PragueAddick said:
Fair point, mate, you may be right and if you are, it should be in a lot less than 25 years. But you are rather assuming that the resistance is Luddite, conservative, in nature, but it's not my case. Soon as I saw email at work (my mate was showing me his Compuserve version I think in late 1992) I wanted it there and then. Using it regularly at work from 94. I resisted a mobile until 96 but that was more because the people who had them earlier were so ostentatious about them. I got quite excited by WAP info by text on my phone before Netscape took off, and when it did, I was right on it. All because the real world uses, in business especially, were obvious.kentaddick said:"what's with all this talk of 'e'mail? 'i - m's' and the such? Don't you realise it makes you sound like a cult? This internet will never catch on if i have to have the phone lines down to send an electronic mail - i could just ring them and get an instant answer"
Not to sound too flippant... but i believe this is how we're going to look at this type of conversation in 25 years.
Thanks for the stake explanation. But you guys have a complete lexicon on that thread!. But then again I suppose derivatives traders and the like have their own lexicon. You guys seem to have more in common with that type, needing to trade every hour in order to profit - yet AFAIK none of you are professionals paid to do this trading, and the biggest worry I have (for you guys) is that you collectively don't seem to know as much about what you are trading as even a day trader in orthodox stocks.
But not to worry, I'm a cautious investor anyway. I'm keeping an open mind, but until I can explain what all this stuff does in the real world, I'm on the sidelines. You have to admit that 130% in 2 years is not bad, but it's even better when you reflect that I can wake up tomorrow and the worst situation reasonably imaginable is that it will be only 125% - whereas if I understand that thread, you lost 11% in a couple of hours! But I guess you are little more than half my age, of course age changes risk aversion.
I mean I can't argue with your position, and it's a good one. If I make it out like I'm pumping all my savings into crypto - absolutely not. If everything i put into crypto went to 0 today it would have only really cost me anything that i haven't kind of written off already. I see trading it as a bit of a game that I'm trying to learn (my trading account literally only has a hundred quid in it). I've got one or two pretty surefire moonshots in my metamask wallet that will probably 10x or even potentially 100x, but again, I've only put in what I could have really spent on a very nice dinner at a michelin star'd restaurant.
I actually originally posted on here to see what orthodox stocks some one in my position (late 20's, a bit of spare cash starting to roll around), better that, a beginner at stocks should get?
My advice, as a financial adviser of 30 years standing, is to start a stocks & shares ISA & put in a regular monthly amount. You can usually start with as little as £25pm, but imo it's really not worth doing unless you are looking at £100pm+. Probably best starting with a simple managed fund, one with a mixture of both shares & bonds.0 -
Yeah, sounds like pension is the way to go - as I said, got a few k I can use in my ltd company and if I’m correct - you can move money from ltd company into a pension and it comes of your corp tax as an expense? Gonna hang back til March and see what brexit brings my industry, put 4K into my LISA and then put some into my pension.PragueAddick said:Give @kentaddick a break please people, he has always been the one from the CryptoLifers most willing to take time to share what he knows, and has never given it the biggun, whereas a couple of years ago some others were - and then the whole thread went quiet until recently.
KA I have to tell you that Golfie’s advice, to open a SIPP and invest a regular monthly amount, is the very best advice you can get, even though it looks soooo boring. The way to look at it is not against cryptos but against what you can get from a bank. You could, on one of the big platforms, have a SIPP, and separately a shares and funds account where you could gradually get more adventurous, and learn from inevitable mistakes. You’re even younger than I realised, and if you start now with the SIPP, in the first few years you’ll be unimpressed but after 10 years you’ll be happy with it, and after 30, well smug. And then you can toast the old gits on here who pushed you into it:-)0 -
Yes, should be relatively straightforward. My broker needed me to fill out a form the first time but I can now do it electronically with no admin (except keeping track that I don't go over any limits.).kentaddick said:
I can use in my ltd company and if I’m correct - you can move money from ltd company into a pension and it comes of your corp tax as an expense?
Book against a pension expense code, therefore net of corp tax, income tax and employers and employees NI. I use Xero and it's fairly obvious which account to use.0 -
On the subject of brokers, I'm still mulling over leaving HL after a relationship that goes back to 1991, when they were just a physical newsletter.
Because I like to hold stocks and prefer investment trusts and exchange traded funds over unit trusts, Fidelity and Vanguard aren't really an option for me. Interactive Brokers, who I like, do a SIPP but not ISAs, so unfortunately not an option.
I'm mainly concerned about the currency charges for US stocks - I know they are much lower elsewhere. Some of the recent entrants don't appear to let you trade during the day or have a very wide coverage of instruments.
Maybe I should stick with the devil I know, but I'd be interested in views from people who use Saxo, Interactive Investor, IG and similar, or any of the emerging platforms. Critical is performance/availability, the ability to trade in real time, instrument coverage and trading fees, as well as covering ISAs and SIPPs. (UK based).0 -
Cheers for the info, probably just a couple hundred PM as I'll still be putting into the art. That % option seems to make more sense for me atmRob7Lee said:
How much are you going to be paying in? As Golfie says many charge a platform fee which is a % of the fund value.shine166 said:
I'm with interactive investor for the bulk of mine, flat fee of £19.99 a month and nothing extra for regular investments. For the first 6 months they waive the £10 SIPP fee so only £9.99 (when I opened it was 12 months). With that you get one free trade a month in effect as well (but again no charge for a regular DD investment).
If you are going to be putting a lot in a fixed fee may be beneficial long term, otherwise one of the % based. You can always move it in years to come when the values warrant taking a fixed fee.
I was always happy with the fidelity platform, only switched really as the fee's began to mount up as my fund got quite big. I save around £1800 a year on fee's (a bit more in year one) with ii compared to Fidelity. Sub 70k fund Fidelity would be cheaper.0 - Sponsored links:
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On that basis then yes, one of the % one's would suit you best.shine166 said:
Cheers for the info, probably just a couple hundred PM as I'll still be putting into the art. That % option seems to make more sense for me atmRob7Lee said:
How much are you going to be paying in? As Golfie says many charge a platform fee which is a % of the fund value.shine166 said:
I'm with interactive investor for the bulk of mine, flat fee of £19.99 a month and nothing extra for regular investments. For the first 6 months they waive the £10 SIPP fee so only £9.99 (when I opened it was 12 months). With that you get one free trade a month in effect as well (but again no charge for a regular DD investment).
If you are going to be putting a lot in a fixed fee may be beneficial long term, otherwise one of the % based. You can always move it in years to come when the values warrant taking a fixed fee.
I was always happy with the fidelity platform, only switched really as the fee's began to mount up as my fund got quite big. I save around £1800 a year on fee's (a bit more in year one) with ii compared to Fidelity. Sub 70k fund Fidelity would be cheaper.
I'm not an expert on everything out there, but Vanguard seem reasonable with pretty low charges, account fee is 0.15% I believe (and capped but not that'll effect you for a long while) plus fund charges which again are quite low, here's their various funds and charges;
https://www.vanguardinvestor.co.uk/what-we-offer/all-products - i've a bit in some of their LifeStrategy funds.
Of course entirely up to you, but if you are already heavy on Art, maybe time to diversify more, too many eggs in one basket etc. Also if a higher rate tax payer you are already making 40% on day 1 in a Pension/SIPP. Many people forget that part when comparing against other investments. Your ART needs to go up 40% just to be where you were on day 1 in a Pension, and thats before you take into account CGT on ART so realistically it's 50% plus.2 -
FTSE Nearly 6600, Bitcoin now over $20,000, if we get a Brexit deal 6750 might be breached 🤨1
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You are correct.kentaddick said:
Yeah, sounds like pension is the way to go - as I said, got a few k I can use in my ltd company and if I’m correct - you can move money from ltd company into a pension and it comes of your corp tax as an expense? Gonna hang back til March and see what brexit brings my industry, put 4K into my LISA and then put some into my pension.PragueAddick said:Give @kentaddick a break please people, he has always been the one from the CryptoLifers most willing to take time to share what he knows, and has never given it the biggun, whereas a couple of years ago some others were - and then the whole thread went quiet until recently.
KA I have to tell you that Golfie’s advice, to open a SIPP and invest a regular monthly amount, is the very best advice you can get, even though it looks soooo boring. The way to look at it is not against cryptos but against what you can get from a bank. You could, on one of the big platforms, have a SIPP, and separately a shares and funds account where you could gradually get more adventurous, and learn from inevitable mistakes. You’re even younger than I realised, and if you start now with the SIPP, in the first few years you’ll be unimpressed but after 10 years you’ll be happy with it, and after 30, well smug. And then you can toast the old gits on here who pushed you into it:-)
Despite being in crypto, the above is well worth doing. I've been paying into my pension through ltd co quite heavily the last few years and have seen some very good gains. Not crypto worthy % wise but a lot more stable, sensible growth.1 -
Thanks mate, gonna wait til March time to move quite a bit of money into my LISA and put a wodge into my pension. Hopefully by then we’d know what kind of brexit we’ve got and things will start to reopen thanks to a vaccine and I’ll be feeling less cautious about things for my company.cafcpolo said:
You are correct.kentaddick said:
Yeah, sounds like pension is the way to go - as I said, got a few k I can use in my ltd company and if I’m correct - you can move money from ltd company into a pension and it comes of your corp tax as an expense? Gonna hang back til March and see what brexit brings my industry, put 4K into my LISA and then put some into my pension.PragueAddick said:Give @kentaddick a break please people, he has always been the one from the CryptoLifers most willing to take time to share what he knows, and has never given it the biggun, whereas a couple of years ago some others were - and then the whole thread went quiet until recently.
KA I have to tell you that Golfie’s advice, to open a SIPP and invest a regular monthly amount, is the very best advice you can get, even though it looks soooo boring. The way to look at it is not against cryptos but against what you can get from a bank. You could, on one of the big platforms, have a SIPP, and separately a shares and funds account where you could gradually get more adventurous, and learn from inevitable mistakes. You’re even younger than I realised, and if you start now with the SIPP, in the first few years you’ll be unimpressed but after 10 years you’ll be happy with it, and after 30, well smug. And then you can toast the old gits on here who pushed you into it:-)
Despite being in crypto, the above is well worth doing. I've been paying into my pension through ltd co quite heavily the last few years and have seen some very good gains. Not crypto worthy % wise but a lot more stable, sensible growth.0 -
Not looking too pretty today, glad I cashed in some over the past few weeks. Have a bit over 1/5th of my SIPP in Cash now, was predominantly to transfer the final amounts from Fidelity to ii and took some profit in ii as well.
I was looking so close for the end of year FTSE prediction as well
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same here. I had 6666 & was looking good last week. FTSE100 now below 6400. Bloody Covid........and the French !Rob7Lee said:Not looking too pretty today, glad I cashed in some over the past few weeks. Have a bit over 1/5th of my SIPP in Cash now, was predominantly to transfer the final amounts from Fidelity to ii and took some profit in ii as well.
I was looking so close for the end of year FTSE prediction as well0 -
Still a chance I’ll make it, 6450 I think I said.golfaddick said:
same here. I had 6666 & was looking good last week. FTSE100 now below 6400. Bloody Covid........and the French !Rob7Lee said:Not looking too pretty today, glad I cashed in some over the past few weeks. Have a bit over 1/5th of my SIPP in Cash now, was predominantly to transfer the final amounts from Fidelity to ii and took some profit in ii as well.
I was looking so close for the end of year FTSE prediction as well
on the plus side I can buy back in at a cheaper rate and might finally be able to dump my metro bank shares for a profit!!0 -
"Events, dear boy, events"golfaddick said:
same here. I had 6666 & was looking good last week. FTSE100 now below 6400. Bloody Covid........and the French !Rob7Lee said:Not looking too pretty today, glad I cashed in some over the past few weeks. Have a bit over 1/5th of my SIPP in Cash now, was predominantly to transfer the final amounts from Fidelity to ii and took some profit in ii as well.
I was looking so close for the end of year FTSE prediction as well
Harold Macmillan.
(a proper Prime Minister)1 -
Just sold my Metro Bank holding not a too shabby 22% return, cashed profit and used original capital sum to buy into COPL, should see a nice return, fingers crossed in 4-6 months 🤞🤞👍👍Rob7Lee said:
Still a chance I’ll make it, 6450 I think I said.golfaddick said:
same here. I had 6666 & was looking good last week. FTSE100 now below 6400. Bloody Covid........and the French !Rob7Lee said:Not looking too pretty today, glad I cashed in some over the past few weeks. Have a bit over 1/5th of my SIPP in Cash now, was predominantly to transfer the final amounts from Fidelity to ii and took some profit in ii as well.
I was looking so close for the end of year FTSE prediction as well
on the plus side I can buy back in at a cheaper rate and might finally be able to dump my metro bank shares for a profit!!0 -
Brought forward for those interested.Rob7Lee said:bobmunro
7395
Mronelung
7200
gunnessaddick
6969
LargeAddick
6899
Huskaris
6825
meldrew66
6789
Daarrrzzettbum
6750
Covered End
6700
golfaddick
6666
CharltonKerry
6649
PragueAddick
6450
Rob7Lee
6420
RalphMilne
6397
Exiledin Manchester
6320
happy valley
6299
blackpool72
6255
StrikerFirmani
6250
WishIdStayedInThe Pub
6232
wwaddick
6013
HardyAddick
5950
CAFCsayer
5948
Salad
5897
oohaahmortimer
5750
Gary Poole
5450
5000
1
