Attention: Please take a moment to consider our terms and conditions before posting.
Savings and Investments thread
Comments
-
17 quid for a white tee shirt !!Huskaris said:
First company acquired.Huskaris said: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).
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.
0 -
The best white t-shirts on earth I'll have you know.MrOneLung said:
17 quid for a white tee shirt !!Huskaris said:
First company acquired.Huskaris said: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).
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.
This marketing stuff is easy.0 -
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.Huskaris said:
First company acquired.Huskaris said: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).
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.2 -
Interesting, need to sort that website out!Huskaris said:
First company acquired.Huskaris said: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).
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.1 -
Yeah that's one of the first things on the list, along with a product refresh.Rob7Lee said:
Interesting, need to sort that website out!Huskaris said:
First company acquired.Huskaris said: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).
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.
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.0 -
Have you thought about doing a “how thick is wall” T-shirt with a picture of a Millwall fan?Huskaris said:
Yeah that's one of the first things on the list, along with a product refresh.Rob7Lee said:
Interesting, need to sort that website out!Huskaris said:
First company acquired.Huskaris said: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).
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.
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.4 -
I'll put it on the list!arny23394 said:
Have you thought about doing a “how thick is wall” T-shirt with a picture of a Millwall fan?Huskaris said:
Yeah that's one of the first things on the list, along with a product refresh.Rob7Lee said:
Interesting, need to sort that website out!Huskaris said:
First company acquired.Huskaris said: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).
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.
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.0 -
Good luck Huskaris1
-
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.
Rob7Lee said:
Interesting, need to sort that website out!Huskaris said:
First company acquired.Huskaris said: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).
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.
Just thought you ought to know!
1 -
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.golfaddick said:
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.StrikerFirmani said:@golfaddick Forgot to say the policy is now held by ReAssure.
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.
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.
0 - Sponsored links:
-
Covered End said:
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.StrikerFirmani said:
Hells Bells 14 pages. Cheers for the link.Covered End said:
I'm hoping when they send the updated policy through it will contain the answers.0 -
you gotta sell a "men with ven" t shirt, surely?Huskaris said:
First company acquired.Huskaris said: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).
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.1 -
Lol, and make some money I did yesterday as well!PragueAddick said:
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. Rob7Lee said:
Interesting, need to sort that website out!Huskaris said:
First company acquired.Huskaris said: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).
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.
Just thought you ought to know!
1 -
if you bought at 38k you're almost 10% up on your entry. Not to shake a stick at, that.Rob7Lee said:
Lol, and make some money I did yesterday as well!PragueAddick said:
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. Rob7Lee said:
Interesting, need to sort that website out!Huskaris said:
First company acquired.Huskaris said: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).
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.
Just thought you ought to know!
0 -
I bought some at sub that as well, sold yesterday for a bit over 11%, not had much time today to do any trading.kentaddick said:
if you bought at 38k you're almost 10% up on your entry. Not to shake a stick at, that.Rob7Lee said:
Lol, and make some money I did yesterday as well!PragueAddick said:
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. Rob7Lee said:
Interesting, need to sort that website out!Huskaris said:
First company acquired.Huskaris said: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).
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.
Just thought you ought to know!
0 -
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"kentaddick said:
you gotta sell a "men with ven" t shirt, surely?Huskaris said:
First company acquired.Huskaris said: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).
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.
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.
1 -
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?Rob7Lee said:
Lol, and make some money I did yesterday as well!PragueAddick said:
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. Rob7Lee said:
Interesting, need to sort that website out!Huskaris said:
First company acquired.Huskaris said: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).
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.
Just thought you ought to know!
0 -
I've been in and out maybe 75 times in the past 4-5 months.PragueAddick said:
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?Rob7Lee said:
Lol, and make some money I did yesterday as well!PragueAddick said:
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. Rob7Lee said:
Interesting, need to sort that website out!Huskaris said:
First company acquired.Huskaris said: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).
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.
Just thought you ought to know!
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
1 -
@Rob7Lee Cheers.
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.0 -
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).PragueAddick said:@Rob7Lee Cheers.
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).2 - Sponsored links:
-
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.)1
-
It reminds me of those friendly poker games with a mixture of good players and inexperienced hopefuls.
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?0 -
@Rob7Lee Robert Armstrong argues, quite concisely, that Bitcoin is not a currency, no matter what its proponents claim:
That is where a lot of bitcoin believers have made a mistake. They think when the price of bitcoin goes up, that is itself evidence that the technology is closer to working, and becoming money. It’s not! Lots of things, from baseball cards to cases of Château Lafite, go up in value. That does not make them money. It makes them assets. Assets are fine things, but the value of the said bitcoin comes from the possibility that it becomes a specific kind of asset, namely money. Evidence that bitcoin is becoming money would involve people transacting in it more, in more places and more smoothly (whether there is any evidence of that is a topic for another day).
Having written that, he got a lot of fans coming back at him with the line that it's a "store of value" like gold. To which he has responded
The most common reply I received was that bitcoin is not trying to be money. Money has two key properties. It is a store of value and a medium of exchange. Most of the people who think I am wrong think bitcoin is all about storing value. That is why its finite supply is so important. If it’s a bit costly to trade, a bit illiquid, and so on — who cares. It is akin to gold and diamonds, commodities whose salient feature is their rarity and how much they are prized, not their ease of use. I am not convinced. Gold and diamonds have uses in industry and jewellery, they have millennia of convention supporting their preciousness. The only thing supporting bitcoin as a store of value, as a precious commodity, is that it might be both a store of value and an especially good medium of exchange — one that can transact widely, frictionlessly, at a low cost, and (here is the real key) without third-party oversight or government control. And I don’t think we yet know that this is so. Bitcoin is scarce, but so are the watercolours I painted in high school. That does not make them a store of value.
Anyone want to argue with that? And then there is another emerging problem with Bitcoin, the way it is "made" is environmentally catastrophic. It's taken Elon Musk (whom I otherwise wouldn't trust to tell me the time) to bring that into the public consciousness. Now that he's done so, I think the consequence is that anyone who believes they are investing ethically, via the burgeoning "sustainable" funds etc, and is also trading in bitcoin, needs to have a word with themselves.0 -
no it isn't - this has repeatedly been debunked. It's like saying electric cars are environmentally catastrophic, or that computers are environmentally catastrophic, your fridge, your phone is environmentally catastrophic even if you ignore the fact that large scale miners use renewable energy. If the grid is green, so is bitcoin.PragueAddick said:@Rob7Lee Robert Armstrong argues, quite concisely, that Bitcoin is not a currency, no matter what its proponents claim:
That is where a lot of bitcoin believers have made a mistake. They think when the price of bitcoin goes up, that is itself evidence that the technology is closer to working, and becoming money. It’s not! Lots of things, from baseball cards to cases of Château Lafite, go up in value. That does not make them money. It makes them assets. Assets are fine things, but the value of the said bitcoin comes from the possibility that it becomes a specific kind of asset, namely money. Evidence that bitcoin is becoming money would involve people transacting in it more, in more places and more smoothly (whether there is any evidence of that is a topic for another day).
Having written that, he got a lot of fans coming back at him with the line that it's a "store of value" like gold. To which he has responded
The most common reply I received was that bitcoin is not trying to be money. Money has two key properties. It is a store of value and a medium of exchange. Most of the people who think I am wrong think bitcoin is all about storing value. That is why its finite supply is so important. If it’s a bit costly to trade, a bit illiquid, and so on — who cares. It is akin to gold and diamonds, commodities whose salient feature is their rarity and how much they are prized, not their ease of use. I am not convinced. Gold and diamonds have uses in industry and jewellery, they have millennia of convention supporting their preciousness. The only thing supporting bitcoin as a store of value, as a precious commodity, is that it might be both a store of value and an especially good medium of exchange — one that can transact widely, frictionlessly, at a low cost, and (here is the real key) without third-party oversight or government control. And I don’t think we yet know that this is so. Bitcoin is scarce, but so are the watercolours I painted in high school. That does not make them a store of value.
Anyone want to argue with that? And then there is another emerging problem with Bitcoin, the way it is "made" is environmentally catastrophic. It's taken Elon Musk (whom I otherwise wouldn't trust to tell me the time) to bring that into the public consciousness. Now that he's done so, I think the consequence is that anyone who believes they are investing ethically, via the burgeoning "sustainable" funds etc, and is also trading in bitcoin, needs to have a word with themselves.
As for elon musk, this is a guy who claimed he was in "talks" with "dogecoin devs" - to artificially pump the price of a ponzi. There are no dogecoin devs, its a litecoin fork thats had zero dev work from the date of it's fork.
"Bitcoin is not a store of value" except, it is being used as a store of value. Forgive me if i take any FUD with a large helping of salt - this is all the same rubbish that came out in 2017-2018 on the last bull run of the cycle. We're now up 2x from the top of that cycle on the back of a "crash". Ponzis and pyramid schemes go up until they can't go up any more, they then crash and disappear. They don't get stronger and stronger throughout their entire existence, downturn after downturn.0 -
meanwhile silver and gold look pretty good atm - when they looked terrible when bitcoin was going up and up. It might just be that traders are rotating their store of value investments...0
-
My gold fund (in my SIPP) is almost back in profit
EDIT, I'm in profit!
0 -
But that fund doesn't invest in Gold, in invests in companies that mine gold and other precious metals. It's an equity fund - not a commodity fund.Rob7Lee said:My gold fund (in my SIPP) is almost back in profit
EDIT, I'm in profit!
On the subject of bitcoin. I'm like Manuel on this - I know nothing. But on the subject of what it is, once again it is an equity. It's not cash, as you can not trade stuff with it. It is not a commodity, as it's not physical. It acts like an equity due to the volatility. I did read the other day that it is also not very environmentally friendly due to the amount of electricity is being used just to store it. Electricity which is mainly powered by coal. There are millions & millions of computers running 24/7 just to keep the thing "alive".
When one of the thousands of fund managers around the world start using it in their portfolios then I will take a look. Until then......1 -
Yer appreciate it's not pure gold, it's people like Barrick Gold Corp so yes miners of gold rather than gold itself. I save that for my sovereigns!golfaddick said:
But that fund doesn't invest in Gold, in invests in companies that mine gold and other precious metals. It's an equity fund - not a commodity fund.Rob7Lee said:My gold fund (in my SIPP) is almost back in profit
EDIT, I'm in profit!
On the subject of bitcoin. I'm like Manuel on this - I know nothing. But on the subject of what it is, once again it is an equity. It's not cash, as you can not trade stuff with it. It is not a commodity, as it's not physical. It acts like an equity due to the volatility. I did read the other day that it is also not very environmentally friendly due to the amount of electricity is being used just to store it. Electricity which is mainly powered by coal. There are millions & millions of computers running 24/7 just to keep the thing "alive".
When one of the thousands of fund managers around the world start using it in their portfolios then I will take a look. Until then......0 -
This is incorrect. Even if it was, isn’t this simply just a case of we need the grid to go green? Bitcoin is “alive” regardless of if miners are on or not. Is the internet not just servers being kept on to keep it “alive”? If the amount of miners go down the transaction times go up... briefly. The beauty of bitcoin is it can never be truly “switched off”golfaddick said:
But that fund doesn't invest in Gold, in invests in companies that mine gold and other precious metals. It's an equity fund - not a commodity fund.Rob7Lee said:My gold fund (in my SIPP) is almost back in profit
EDIT, I'm in profit!
On the subject of bitcoin. I'm like Manuel on this - I know nothing. But on the subject of what it is, once again it is an equity. It's not cash, as you can not trade stuff with it. It is not a commodity, as it's not physical. It acts like an equity due to the volatility. I did read the other day that it is also not very environmentally friendly due to the amount of electricity is being used just to store it. Electricity which is mainly powered by coal. There are millions & millions of computers running 24/7 just to keep the thing "alive".
When one of the thousands of fund managers around the world start using it in their portfolios then I will take a look. Until then......How much energy is used mining gold, and maintaining the wasteful banking and financial sector?0 -
What is wasteful ?kentaddick said:
This is incorrect. Even if it was, isn’t this simply just a case of we need the grid to go green? Bitcoin is “alive” regardless of if miners are on or not. Is the internet not just servers being kept on to keep it “alive”? If the amount of miners go down the transaction times go up... briefly. The beauty of bitcoin is it can never be truly “switched off”golfaddick said:
But that fund doesn't invest in Gold, in invests in companies that mine gold and other precious metals. It's an equity fund - not a commodity fund.Rob7Lee said:My gold fund (in my SIPP) is almost back in profit
EDIT, I'm in profit!
On the subject of bitcoin. I'm like Manuel on this - I know nothing. But on the subject of what it is, once again it is an equity. It's not cash, as you can not trade stuff with it. It is not a commodity, as it's not physical. It acts like an equity due to the volatility. I did read the other day that it is also not very environmentally friendly due to the amount of electricity is being used just to store it. Electricity which is mainly powered by coal. There are millions & millions of computers running 24/7 just to keep the thing "alive".
When one of the thousands of fund managers around the world start using it in their portfolios then I will take a look. Until then......How much energy is used mining gold, and maintaining the wasteful banking and financial sector?
I agree all companies / activities consume electricity so not sure the accusation (not from people on this forum) of Crypto being a particular drain is accurate or remotely relevant.
The general concern that people don't really know what they are investing in or why its so volatile (relative to other investments) is however pertinent.
I think its right to be suspicious / cautious of something new that some seem to think is perfectly reasonable to rise in 'value' and make people rich way in excess of more traditional investments.
The old adage if its too good to be true...0
