jamamafegan Posted February 8, 2021 Share Posted February 8, 2021 This is the exact moment everyone in this thread (including myself) realises they don't have enough exposure to Bitcoin. The joke is on us all.It could be worse. Imagine watching this and being that guy who threw his hard drive in the bin which contained millions and millions £ worth of Bitcoin. 0 Quote Link to comment Share on other sites More sharing options...
The Moonster Posted February 8, 2021 Share Posted February 8, 2021 57 minutes ago, jamamafegan said: It could be worse. Imagine watching this and being that guy who threw his hard drive in the bin which contained millions and millions £ worth of Bitcoin. Fun fact: Ex-UFC fighter Mark Hunt bought 100 Bitcoins when they first started and he lost the key/password or whatever it is you need to access them. $4 million sitting there he can't touch 0 Quote Link to comment Share on other sites More sharing options...
iron mike python Posted February 8, 2021 Share Posted February 8, 2021 56 minutes ago, jamamafegan said: It could be worse. Imagine watching this and being that guy who threw his hard drive in the bin which contained millions and millions £ worth of Bitcoin. Just now they can't search for it in the landfill due to "health and safety." even though he has offered the council a large percentage. At some point the game theory kicks in when it is worth billions. The local or national Government would say for a 50% share of finding the hard drive they would hold a few risk assessments and put resources towards finding the Hard Drive. 1 hour ago, The Moonster said: So I should put all my savings into Bitcoin now? Not the worst idea i've ever heard. 0 Quote Link to comment Share on other sites More sharing options...
jamamafegan Posted February 8, 2021 Share Posted February 8, 2021 Fun fact: Ex-UFC fighter Mark Hunt bought 100 Bitcoins when they first started and he lost the key/password or whatever it is you need to access them. $4 million sitting there he can't touch Yikes. There must be so many others who have made the same blunder. Precious bitcoins, trapped in the virtual world. 0 Quote Link to comment Share on other sites More sharing options...
Ross. Posted February 8, 2021 Share Posted February 8, 2021 2 hours ago, iron mike python said: This is the exact moment everyone in this thread (including myself) realises they don't have enough exposure to Bitcoin. The joke is on us all. First I heard of Bitcoin would have been around 2010 or 2011 and I dismissed it as a ridiculous notion. I console myself with the knowledge that had i bought when it was $20 a pop rather than $2000, I’d have long sold up and be regretting that far more than I regret only buying a wee bit at $2k. 0 Quote Link to comment Share on other sites More sharing options...
Aufc Posted February 8, 2021 Share Posted February 8, 2021 First I heard of Bitcoin would have been around 2010 or 2011 and I dismissed it as a ridiculous notion. I console myself with the knowledge that had i bought when it was $20 a pop rather than $2000, I’d have long sold up and be regretting that far more than I regret only buying a wee bit at $2k.Yeah i think that is the thing. Everyone says the same but hardly anyone would have held onto it the whole time. Fair play to anyone that did 1 Quote Link to comment Share on other sites More sharing options...
Granny Danger Posted February 8, 2021 Share Posted February 8, 2021 S&P 500 and NASDAQ still rising. Seriously thinking of converting our SIPP funds to cash as I reckon the markets are going to drop at some point in the near future. The question, of course, is when. 0 Quote Link to comment Share on other sites More sharing options...
Al B Posted February 9, 2021 Share Posted February 9, 2021 20 hours ago, Ross. said: First I heard of Bitcoin would have been around 2010 or 2011 and I dismissed it as a ridiculous notion. I console myself with the knowledge that had i bought when it was $20 a pop rather than $2000, I’d have long sold up and be regretting that far more than I regret only buying a wee bit at $2k. 17 hours ago, Aufc said: Yeah i think that is the thing. Everyone says the same but hardly anyone would have held onto it the whole time. Fair play to anyone that did Absolutely. I held 7.5 BTC at one point and I still have little stabs of "I wish I'd held on", not just for current value but for where it could still go from here. I cashed out for just over 10 grand and I have to remind myself that at that point there was no scenario on Earth where I'd have been in a position to ignore that amount of money effectively appearing out of nowhere. I do wish I'd kept one though. 1 Quote Link to comment Share on other sites More sharing options...
thistledo Posted February 9, 2021 Share Posted February 9, 2021 21 hours ago, Ross. said: First I heard of Bitcoin would have been around 2010 or 2011 and I dismissed it as a ridiculous notion. I console myself with the knowledge that had i bought when it was $20 a pop rather than $2000, I’d have long sold up and be regretting that far more than I regret only buying a wee bit at $2k. This crushes my soul, in 2010 I worked for a tech company and the lads I worked with discussed at length investing in Bitcoin and we all dismissed it as a short lived fad. Honestly haunts me I never just punted a couple of hundred it's way just on the off chance. I'm now doing that with other crypto, more hope than anything. 15 hours ago, Granny Danger said: S&P 500 and NASDAQ still rising. Seriously thinking of converting our SIPP funds to cash as I reckon the markets are going to drop at some point in the near future. The question, of course, is when. I'm uncomfortably weighted in favour of US Tech companies, it's paying off massively, but when I speak to wealth managers about it, they all say they wouldn't be doing it long term. But then never conclude what long term is. They don't know, no one does. 0 Quote Link to comment Share on other sites More sharing options...
KD1711 Posted February 9, 2021 Share Posted February 9, 2021 2 hours ago, thistledo said: This crushes my soul, in 2010 I worked for a tech company and the lads I worked with discussed at length investing in Bitcoin and we all dismissed it as a short lived fad. Honestly haunts me I never just punted a couple of hundred it's way just on the off chance. I'm now doing that with other crypto, more hope than anything. I You can't really beat yourself up about it, if you were going to do it you would've did it. Especially with how cheap that it was back then was it not like 0.01c for 1 BTC, so even £50 would havve been an insane amount of bitcoin. Plus who is to say that you will have held till now. 0 Quote Link to comment Share on other sites More sharing options...
Guest TheJTS98 Posted February 9, 2021 Share Posted February 9, 2021 2 hours ago, thistledo said: They don't know, no one does. This is why nobody should be beating themselves up. Nobody has any idea what's going on. 0 Quote Link to comment Share on other sites More sharing options...
Al B Posted February 9, 2021 Share Posted February 9, 2021 (edited) I think the best way to think about the "what if's", is to realise that your selling point is directly linked to your buying point If you'd bought £50 worth back at the start, you'd have sold it when it was worth a grand. If you'd bought a grands worth at that point, you'd have sold it when it hit 5 grand, and so on... purely because as mentioned above there's no way of predicting where it will go (and there was even less back then). I would imagine there is almost no-one (if not literally no-one), who still has BTC that was bought for pennies. Everyone who bought in back then will have hit their "can't afford to turn it down" selling point long ago. (that's not to say they won't have bought back in again) Edited February 9, 2021 by Al B 0 Quote Link to comment Share on other sites More sharing options...
Iminavest Posted February 9, 2021 Share Posted February 9, 2021 Worth jumping on the BC bandwagon now or has it hit somewhat of a ceiling? 0 Quote Link to comment Share on other sites More sharing options...
Ross. Posted February 9, 2021 Share Posted February 9, 2021 6 minutes ago, Al B said: I think the best way to think about the "what if's", is to realise that your selling point is directly linked to your buying point If you'd bought £50 worth back at the start, you'd have sold it when it was worth a grand. If you'd bought a grands worth at that point, you'd have sold it when it hit 5 grand, and so on... purely because as mentioned above there's no way of predicting where it will go (and there was even less back then). I would imagine there is almost no-one (if not literally no-one), who still has BTC that was bought for pennies. Everyone who bought in back then will have hit their "can't afford to turn it down" selling point long ago. (that's not to say they won't have bought back in again) At this point, I am in until they start pricing it in Satoshis. 0 Quote Link to comment Share on other sites More sharing options...
Granny Danger Posted February 9, 2021 Share Posted February 9, 2021 2 hours ago, thistledo said: I'm uncomfortably weighted in favour of US Tech companies, it's paying off massively, but when I speak to wealth managers about it, they all say they wouldn't be doing it long term. But then never conclude what long term is. They don't know, no one does. 95% of our SIPPs is in funds that are primarily US tech. I’ve never bought into the diversified portfolio argument when invested in funds (we hold no individual stocks). Broadest advice I can see suggests there may be a correction but not a slump and that 2021 will be flat. Probably ride it out for a few months more unless Biden starts bringing in legislation that will have a negative effect on big tech. 0 Quote Link to comment Share on other sites More sharing options...
Ross. Posted February 9, 2021 Share Posted February 9, 2021 28 minutes ago, ThatBoyRonaldo said: An online currency where about the only thing you can buy with it is drugs on the dark web or ransoms to cybercriminals If you live in Kanton Zug, you can pay your tax bill in Bitcoin. They have been accepting it since around 2014. I do think This is where Tesla could get interesting. As a payment mechanism Bitcoin is still relatively poor, but if Tesla were to use it to make and receive payment it would broaden the use massively. Institutions are getting in on it now as investment in the store of wealth aspect, but if it becomes mainstream as a payment medium in general retail, then the price potential is basically limitless. FWIW I tend to agree with the “It’s basically fucking useless” argument, but i could afford to put a few hundred quid in when I did, just to see how far it would go from there. Currently about 25x my initial entry point. 0 Quote Link to comment Share on other sites More sharing options...
Granny Danger Posted February 9, 2021 Share Posted February 9, 2021 11 minutes ago, Ross. said: If you live in Kanton Zug, you can pay your tax bill in Bitcoin. They have been accepting it since around 2014. I do think This is where Tesla could get interesting. As a payment mechanism Bitcoin is still relatively poor, but if Tesla were to use it to make and receive payment it would broaden the use massively. Institutions are getting in on it now as investment in the store of wealth aspect, but if it becomes mainstream as a payment medium in general retail, then the price potential is basically limitless. FWIW I tend to agree with the “It’s basically fucking useless” argument, but i could afford to put a few hundred quid in when I did, just to see how far it would go from there. Currently about 25x my initial entry point. Not sure too many P&Brs live in a Swiss Canton. Thankfully. -1 Quote Link to comment Share on other sites More sharing options...
Ross. Posted February 9, 2021 Share Posted February 9, 2021 23 minutes ago, ThatBoyRonaldo said: Aren't these c***s the ones that are 1) even more of a mental tax haven than the rest of the country and 2) completely coincidentally I'm sure, where FIFA are based? 1) It is the tax dodge capital of Switzerland, yes. Not sure on the numbers now but about a decade back there were something like 5 companies registered there for every 1 resident. I work there but could never live there, no amount of extra money would see me live in a town where the best pub is a British theme bar. 2) Fifa are based in Zürich. Perhaps fittingly, the HQ is next to the zoo. 37 minutes ago, Granny Danger said: Not sure too many P&Brs live in a Swiss Canton. Thankfully. Verpissen. 0 Quote Link to comment Share on other sites More sharing options...
Enigma Posted February 9, 2021 Share Posted February 9, 2021 3 hours ago, Granny Danger said: Not sure too many P&Brs live in a Swiss Canton. Thankfully. Plenty are fond of Cantonese cuisine though! 0 Quote Link to comment Share on other sites More sharing options...
beefybake Posted February 11, 2021 Share Posted February 11, 2021 (edited) On 09/02/2021 at 19:29, Ross. said: If you live in Kanton Zug, you can pay your tax bill in Bitcoin. They have been accepting it since around 2014. I do think This is where Tesla could get interesting. As a payment mechanism Bitcoin is still relatively poor, but if Tesla were to use it to make and receive payment it would broaden the use massively. Institutions are getting in on it now as investment in the store of wealth aspect, but if it becomes mainstream as a payment medium in general retail, then the price potential is basically limitless. FWIW I tend to agree with the “It’s basically fucking useless” argument, but i could afford to put a few hundred quid in when I did, just to see how far it would go from there. Currently about 25x my initial entry point. As I understand it, the people/businesses that accept payment in bitcoin..., almost instantly try to convert it into cash. Except, that instant conversion isn't possible with bitcoin, and there's always the risk that the value of the bitcoin goes up or down in the meantime. In terms of the current stock market valuation of Tesla, and also the cash assets of the company, their investment of $1.5 Billion in bitcoin is a small fraction, and you can bet at the point when they actually do start accepting payment in bitcoin, it will all be surrounded with conditions and caveats. Edited February 11, 2021 by beefybake 0 Quote Link to comment Share on other sites More sharing options...
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