Cryptos

Covered End said:

kentaddick said:

Covered End said:

kentaddick said:

Covered End said:

Covered End said:

I'm not having a dig, but here's what the B of E say.
I just hope everyone makes money and gets out in good time.
The experts will whip away most people's money and millions will be left with very little.
Good luck all.
https://www.msn.com/en-gb/money/other/cryptocurrency-has-no-intrinsic-value-and-investors-will-lose-all-your-money-says-bank-of-england-chief/ar-BB1gtAyq?li=BBoPWjQ

kentaddick said:

Covered End said:

kentaddick said:

Covered End said:

https://interestingliterature.com/2017/06/a-summary-and-analysis-of-the-emperors-new-clothes-hans-christian-andersen-fairy-tale/

No football on Saturday so you just gotta troll. Sad.

I worked in financial services all my life as a Bank Manager and then a Financial Adviser.

“I think the internet is a fad, I’ve worked in fax machine distribution all my life”, Cool story bro. Go ask your Goldman sach mates why they’ve now opened up a crypto trading department if it’s such a ponzi. 

May 7th.

This kind of bollocks gets posted every bull run. Are you seriously saying Bitcoin and crypto has no future? Imagine gloating saying capitalism is finished because of market crash. If you bought the top of the last bull run and held, you’re still almost 100% up on your original investment.

No, I said a long time ago it will be similar to the dot com bubble, where the market makers and experts made a killing and many of those that didn't know what they were doing lost out to the manipulators.

Some will survive and many won't.
Bitcoin, Crypto, Eth and some others may/will survive.

Once again I'm not gloating, in fact quite the opposite.
I've advised financially all my life as a bank manager and then financial adviser.
I was simply trying to warn those that didn't know what they were doing, what was coming.
I could do no more, as I always have.

Yes you are, why post otherwise? As I said, an idiot.

I posted because I once again warned everyone on May 7th.
To be fair I think it was only yourself that ridiculed me.
Anyway, you seem to live & breathe cryptos 24/7, I'm not sure how you manage it, unless you are not studying/working.
My warning wasn't aimed at you and others that know what they are doing.
But others getting sucked in.
I hope everyone is still in profit, I really do.

FishCostaFortune said:

I see our friend Rob7Lee, I mean Elon Musk, has tweeted about his diamond hands. 

Covered End said:

kentaddick said:

Covered End said:

kentaddick said:

Covered End said:

kentaddick said:

Covered End said:

Covered End said:

I'm not having a dig, but here's what the B of E say.
I just hope everyone makes money and gets out in good time.
The experts will whip away most people's money and millions will be left with very little.
Good luck all.
https://www.msn.com/en-gb/money/other/cryptocurrency-has-no-intrinsic-value-and-investors-will-lose-all-your-money-says-bank-of-england-chief/ar-BB1gtAyq?li=BBoPWjQ

kentaddick said:

Covered End said:

kentaddick said:

Covered End said:

https://interestingliterature.com/2017/06/a-summary-and-analysis-of-the-emperors-new-clothes-hans-christian-andersen-fairy-tale/

No football on Saturday so you just gotta troll. Sad.

I worked in financial services all my life as a Bank Manager and then a Financial Adviser.

“I think the internet is a fad, I’ve worked in fax machine distribution all my life”, Cool story bro. Go ask your Goldman sach mates why they’ve now opened up a crypto trading department if it’s such a ponzi. 

May 7th.

This kind of bollocks gets posted every bull run. Are you seriously saying Bitcoin and crypto has no future? Imagine gloating saying capitalism is finished because of market crash. If you bought the top of the last bull run and held, you’re still almost 100% up on your original investment.

No, I said a long time ago it will be similar to the dot com bubble, where the market makers and experts made a killing and many of those that didn't know what they were doing lost out to the manipulators.

Some will survive and many won't.
Bitcoin, Crypto, Eth and some others may/will survive.

Once again I'm not gloating, in fact quite the opposite.
I've advised financially all my life as a bank manager and then financial adviser.
I was simply trying to warn those that didn't know what they were doing, what was coming.
I could do no more, as I always have.

Yes you are, why post otherwise? As I said, an idiot.

I posted because I once again warned everyone on May 7th.
To be fair I think it was only yourself that ridiculed me.
Anyway, you seem to live & breathe cryptos 24/7, I'm not sure how you manage it, unless you are not studying/working.
My warning wasn't aimed at you and others that know what they are doing.
But others getting sucked in.
I hope everyone is still in profit, I really do.

“I’m not gloating”

An ex financial adviser offering very good advice to acquaintances is patently not gloating, it was good advice.
You are a strange chap at times.
I'll not be replying again today.

cafcfan said:

kentaddick said:

cafcfan said:

I don't think that's what he said at all.

Today we have the news that China (the place responsible for the vast majority of bitcoin mining), saying it has banned financial institutions from providing services relating to transactions in cyptos.
Probably what caused the run.

Last month we had the Bank of England announce that it, the Govt and FCA are working on introducing a CBDC, that is a virtual pound sterling.

So, it seems sure that crypto has a future. Just not necessarily the one everyone invested in the vast array of flakey products might be hoping for.  

Sure, I know all about the secrecy stuff and what have you, but at the end of the day it is impossible to use something as a virtual currency when you have no idea what it might actually buy you in an hour, let alone tomorrow. The swings are just too wild. You might just as well lob your money into the Venezuelan bolívar. The products out there now will be replaced by something more stable. That means something with some actual backing and usability. What's out there now compared to proper Government backed virtual currencies would be like comparing a Sinclair C5 to a Tesla.

The fact that Goldman Sachs has a trading desk for cryptos means nothing.  It adds no kudos to the products.  Goldman Sachs would be quite happy selling anything to anybody as long as they could make a turn on it.  It is after all only six months or so since the FCA fined Goldman Sachs £97mn for serious risk management failures. I'd not be using them as a ringing endorsement frankly.

Again, this crap is said every bull run, last count of the amount of times China has “banned” crypto, but still bitcoin goes up and up, as you say, stablecoins and defi most definitely have a future. Still heavily into my defi low cap alts. 

You can say it's crap but that's not an argument. Something will shake out. And, in my opinion it will be a binary answer. Either the doubters will be right; or you will be right.  My view is that the doubters are currently in pole position. 

 Of course, if the cyptos stabilise, the heavy duty speculators and market manipulators will no longer have a reason to hold, buy or sell them. If they don't stabilise, they are virtually useless to the man in the street. One thing is for sure, a fair few people will have made some money and had some fun. And a fair few people will have lost a lot of money and with it probably their wellbeing.

NapaAddick said:

kentaddick said:

$20k of volatilty in price today.... we started the day at 42k, went down to 29k, now we’re at 40k. If you were a decent scalper or traded volatility today you couldve made a fortune 

Yeah except that since Crypto has no intrinsic value, no one knows when to make such moves. Nor can they. Remember that millions of purchase transactions happened at $62,500 just a month ago.