Cerberus Posted December 20, 2017 Share Posted December 20, 2017 It's never too late to get involved in a scam like Crypto. 0 Quote Link to comment Share on other sites More sharing options...
chomp my root Posted December 20, 2017 Share Posted December 20, 2017 Paying off mortgages is my main investment. Once tbat's done it gives you a lot more freedom to speculate or change your hours etc, whatever works for you. 2 Quote Link to comment Share on other sites More sharing options...
GiGi Posted December 20, 2017 Share Posted December 20, 2017 I've been reading a bit of basic learning material to start investing recently actually. I'm about to hit a wall terms of pay rises so unless I move job which I don't really fancy at the moment then ideally I'd like to educate myself to use my money a bit smarter. Hopefully can save up a decent pot when I feel confident enough to invest. 0 Quote Link to comment Share on other sites More sharing options...
Blootoon87 Posted December 20, 2017 Share Posted December 20, 2017 I bought shares in Brewdog about 5 years ago, waiting on them hitting the big time. 0 Quote Link to comment Share on other sites More sharing options...
ICTChris Posted December 20, 2017 Share Posted December 20, 2017 I save money every month into a savings account, I have a pension and I'm paying off my mortgage. My wife has a really good pension as well. I don't think there's much point in sitting pinging off £100 here or there on these shares or that. 0 Quote Link to comment Share on other sites More sharing options...
Ross. Posted December 20, 2017 Share Posted December 20, 2017 45 minutes ago, Cerberus said: It's never too late to get involved in a scam like Crypto. Not entirely sure how it can be defined as a scam. A lot of negative terms, sure, but given they can be used as currency for a hell of a lot of things now, I don't see a scam. 0 Quote Link to comment Share on other sites More sharing options...
chomp my root Posted December 20, 2017 Share Posted December 20, 2017 28 minutes ago, Ross. said: Not entirely sure how it can be defined as a scam. A lot of negative terms, sure, but given they can be used as currency for a hell of a lot of things now, I don't see a scam. I looked into it a couple of years ago but it struck me as similar to shares in a lot of ways. The 'scam' angle is that as far as I could tell they're not really backed by anything so if their is a 'bubble burst' you're probably screwed. Banks have regulations safeguarding your investment and as we've seen in dire need have been backed by government. Both banks and countries have more of a vested long term interest in their reputations, we don't know if that would be the case with bitcoin etc. 0 Quote Link to comment Share on other sites More sharing options...
welshbairn Posted December 20, 2017 Share Posted December 20, 2017 40 minutes ago, Ross. said: Not entirely sure how it can be defined as a scam. A lot of negative terms, sure, but given they can be used as currency for a hell of a lot of things now, I don't see a scam. Seems to me much like a Ponzi scheme with the early investors, like Charlie Lee of Litecoin selling his holdings and raking it in. I just don't see any intrinsic value, even transaction costs and speeds are often worse than State backed currencies. Their value is only rising exponentially because of people hearing about the massive profits early buyers have made, not because the coins are essentially more useful. When the crash comes there will be nobody to brake the fall or mitigate the impact on investors. 1 Quote Link to comment Share on other sites More sharing options...
Alert Mongoose Posted December 20, 2017 Share Posted December 20, 2017 Put some in Nike (each way though). 0 Quote Link to comment Share on other sites More sharing options...
Ross. Posted December 20, 2017 Share Posted December 20, 2017 28 minutes ago, chomp my root said: I looked into it a couple of years ago but it struck me as similar to shares in a lot of ways. The 'scam' angle is that as far as I could tell they're not really backed by anything so if their is a 'bubble burst' you're probably screwed. Banks have regulations safeguarding your investment and as we've seen in dire need have been backed by government. Both banks and countries have more of a vested long term interest in their reputations, we don't know if that would be the case with bitcoin etc. 9 minutes ago, welshbairn said: Seems to me much like a Ponzi scheme with the early investors, like Charlie Lee of Litecoin selling his holdings and raking it in. I just don't see any intrinsic value, even transaction costs and speeds are often worse than State backed currencies. Their value is only rising exponentially because of people hearing about the massive profits early buyers have made, not because the coins are essentially more useful. When the crash comes there will be nobody to brake the fall or mitigate the impact on investors. I agree that there is clearly a bubble in BitCoin. Overall in the Crypto world I think there are some really interesting concepts and some incredibly intelligent technology that to me is next generation stuff. Bitcoin has its place as it was the first one to take off and it got itself known first. It can be used for all manner of things, from buying houses to paying your taxes in some places. It has legitimised crypto, albeit in a very unstable and probably unsupportable way. If you know what you are getting into then it’s not a scam. There is a f**k load of risk and there will be a lot of people left holding the baby so to speak when the fall out happens. There are hundred of other crypto currencies that are too similar to bitcoin and will probably go with it. Some of them though will have tremendous use as technology evolves. The problems at the moment though are that people see it as a way to make a fast buck, or simply don’t have a clue what they are dealing with, other than having heard of a guy who made some money by doing nothing. Bitcoin will deflate. When and how fast, f**k knows. A lot of the cryptoworld will disappear at the same time. Some of them will have been integrated into all manner of things and will be very very useful. f**k knows if I have backed the winners. I have a price in mind that I think BTC will reach and if it does I will sell. Until then I am happy to take the risk. 0 Quote Link to comment Share on other sites More sharing options...
Miguel Sanchez Posted December 20, 2017 Share Posted December 20, 2017 1 Quote Link to comment Share on other sites More sharing options...
welshbairn Posted December 20, 2017 Share Posted December 20, 2017 3 minutes ago, Ross. said: I agree that there is clearly a bubble in BitCoin. Overall in the Crypto world I think there are some really interesting concepts and some incredibly intelligent technology that to me is next generation stuff. Bitcoin has its place as it was the first one to take off and it got itself known first. It can be used for all manner of things, from buying houses to paying your taxes in some places. It has legitimised crypto, albeit in a very unstable and probably unsupportable way. If you know what you are getting into then it’s not a scam. There is a f**k load of risk and there will be a lot of people left holding the baby so to speak when the fall out happens. There are hundred of other crypto currencies that are too similar to bitcoin and will probably go with it. Some of them though will have tremendous use as technology evolves. The problems at the moment though are that people see it as a way to make a fast buck, or simply don’t have a clue what they are dealing with, other than having heard of a guy who made some money by doing nothing. Bitcoin will deflate. When and how fast, f**k knows. A lot of the cryptoworld will disappear at the same time. Some of them will have been integrated into all manner of things and will be very very useful. f**k knows if I have backed the winners. I have a price in mind that I think BTC will reach and if it does I will sell. Until then I am happy to take the risk. $20,000? Note when its value is assessed it's always against traditional currencies. There's nothing wrong with people taking a punt with money they won't really miss, like your 7-folds. There will be people betting much more on it though who may be being manipulated by some exploitative and nasty people. The guy who invented it won't even give his name, and if it keeps being of value to hide criminal and terrorist transactions the authorities will shut it down. Maybe it's because I don't really understand it that I think it stinks of con or at least foolish trust to high heaven. 0 Quote Link to comment Share on other sites More sharing options...
JamieT1314 Posted December 20, 2017 Share Posted December 20, 2017 Nothing wrong with investing oin bitcoin as long as you view it as an extremely high risk investment and can afford to lose the investment. Loads of my colleagues have invested but only money they can afford to lose. As long as you are clear on this when going in then there won't be a problem, I sincerely hope people aren't putting their life savings into it, if so they deserve to lose everything should the bubble burst. 1 Quote Link to comment Share on other sites More sharing options...
Ross. Posted December 20, 2017 Share Posted December 20, 2017 (edited) 10 minutes ago, welshbairn said: $20,000? Note when its value is assessed it's always against traditional currencies. There's nothing wrong with people taking a punt with money they won't really miss, like your 7-folds. There will be people betting much more on it though who may be being manipulated by some exploitative and nasty people. The guy who invented it won't even give his name, and if it keeps being of value to hide criminal and terrorist transactions the authorities will shut it down. Maybe it's because I don't really understand it that I think it stinks of con or at least foolish trust to high heaven. I think over the next year to eighteen months it could easily go much higher than 20k. Within the world of finance there are senior execs who are simultaneously decrying it as worthless and to be avoided while privately are saying it could reach 100k if not more. If it gets to 50k I will probably sell. Before that, what I hold wouldn’t raise enough to make any kind of meaningful difference to my life. At that point it still wouldn’t but that number is the one I decided on when I bought it and I plan on sticking to it. The criminal aspect of it doesn’t wash with me. There is more illegal money changing hands in fiat currency than there is in Bitcoin. It will at some point be regulated, without question, but I sense an unwillingness to do that yet because if it is regulated before the bubble bursts then it will simply legitimise it and exacerbate the current problems with the rise in value. Edited December 20, 2017 by Ross. 0 Quote Link to comment Share on other sites More sharing options...
The DA Posted December 20, 2017 Share Posted December 20, 2017 2 hours ago, invergowrie arab said: Buy low sell high. f**k's sake. Now you tell us. 0 Quote Link to comment Share on other sites More sharing options...
Zen Archer (Raconteur) Posted December 20, 2017 Share Posted December 20, 2017 Pork Bellies. 1 Quote Link to comment Share on other sites More sharing options...
Granny Danger Posted December 20, 2017 Share Posted December 20, 2017 4 hours ago, Fraser Fyvie said: Index investing. Follow the market, sit back, let compounding make you rich. 3 hours ago, resk said: I'm into this too. My pension pot is all in low cost passive funds, then next tax year I'll be doing the same with my ISA allowance. If you have significant funds in a defined contribution pension, it's really worth educating yourself about how your money is invested. Yeah, definitely the way to go though some managed funds (like Fundsmith or Rathbone) are definitely worth a punt. It's the strategy that Warren Buffett supposedly advised his missus when he popped his clogs. The magic of compounding is explained nicely in a Motley Fool article (a wee Google will find it); another suggests FTSE 250 tracking over the last decade is far better that FTSE 100. I'm very wary about crypto currency. I think some folk have made/will make a killing and others will get badly burnt. Fair enough if you're needing to make a lot from nothing but if you have a decent input then it's certainly not suitable for a risk averse portfolio. I'm all in favour of the 'compulsory' pension scheme that has been introduced in the Uk, but feel that participants will be lucky to get much more than an inflation pegged return whilst the companies running the scheme will make a fortune. 0 Quote Link to comment Share on other sites More sharing options...
sparky88 Posted December 21, 2017 Share Posted December 21, 2017 I suppose the sensible answer is to have a diverse a portfolio of investments as possible . If you were going to invest everything in one place a tracker fund would probably be not a bad bet. Who do people use to invest in a tracker? Looks to me like some of the banks take a hefty fee for investing in their tracker funds. I wouldn't be able to sleep at night if everything was invested in cryptocurrency but then again I don't know much about it. 0 Quote Link to comment Share on other sites More sharing options...
resk Posted December 21, 2017 Share Posted December 21, 2017 I suppose the sensible answer is to have a diverse a portfolio of investments as possible . If you were going to invest everything in one place a tracker fund would probably be not a bad bet. Who do people use to invest in a tracker? Looks to me like some of the banks take a hefty fee for investing in their tracker funds. They will, and your returns will be significantly reduced by these fees. The Monevator blog is a good starting point - the broker comparison page on that should help. You could go straight to Vanguard for one of their funds or use iWeb or something similar that has a wider selection of funds. 0 Quote Link to comment Share on other sites More sharing options...
IainMorton Posted December 21, 2017 Share Posted December 21, 2017 18 hours ago, JamieT1314 said: Nothing wrong with investing oin bitcoin as long as you view it as an extremely high risk investment and can afford to lose the investment. Loads of my colleagues have invested but only money they can afford to lose. As long as you are clear on this when going in then there won't be a problem, I sincerely hope people aren't putting their life savings into it, if so they deserve to lose everything should the bubble burst. A guy I work with was talking about Litecoin so as a tester I invested £10 worth. I know it’s nothing and probably a waste of a tenner, but will be interesting to see what happens over the next few years. Probably nothing, mind you... 0 Quote Link to comment Share on other sites More sharing options...
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