The latest price of a Bit-coin.

[Proposition Joe]

Just set myself up to get involved, hoping to pay off the mortgage by the end of the month.

[Hoover Attack]

Watch what unfold?

It's only when everyone like this has been won over that we'll finally arrive at the true valuation. Mind blowing.

[Hoover Attack]

Just set myself up to get involved, hoping to pay off the mortgage by the end of the month.

What is mortgage?

[Yanzi Gravy]

Over the weekend a friend of mine who works in banking explained Bitofacon is like pyramid selling . He said that all the ‘small people ‘ put in a grand or two so as not to lose out and every so often those at the top have a ‘cream off’ He said some get caught like Fried Bankman . The small people invariably lose their little investment but ‘was only a bit fun, could gone the other way’. Those st the top feed off the little investments. Personally I would not touch it with a barge pole as I simply do not trust it.

[Hoover Attack]

Personally I would not touch it with a barge pole as I simply do not trust it.

Sound advice but no need to call your friend ‘it’.

[Currywurst and Chips]

Over the weekend a friend of mine who works in banking explained Bitofacon is like pyramid selling . He said that all the ‘small people ‘ put in a grand or two so as not to lose out and every so often those at the top have a ‘cream off’ He said some get caught like Fried Bankman . The small people invariably lose their little investment but ‘was only a bit fun, could gone the other way’. Those st the top feed off the little investments. Personally I would not touch it with a barge pole as I simply do not trust it.

Yeah but that never happened did it

[Yanzi Gravy]

Over the weekend a friend of mine who works in banking explained Bitofacon is like pyramid selling . He said that all the ‘small people ‘ put in a grand or two so as not to lose out and every so often those at the top have a ‘cream off’ He said some get caught like Fried Bankman . The small people invariably lose their little investment but ‘was only a bit fun, could gone the other way’. Those st the top feed off the little investments. Personally I would not touch it with a barge pole as I simply do not trust it.

Yeah but that never happened did it

I have no idea but I have never known any of the numerous people around me who claim to own them ever have a sudden ability to have a massive change in fortunes. Like I know numerous people who do the lottery but not anyone who has won more than couple hundred quid. Same with premium bonds loads up my local say they have won £25 or £50 but no jackpots. I know my house in Hackney has gone up to a small fortune in value since I paid 55k for it in the 80’s . That is a certainty

[Hoover Attack]

Over the weekend a friend of mine who works in banking explained Bitofacon is like pyramid selling . He said that all the ‘small people ‘ put in a grand or two so as not to lose out and every so often those at the top have a ‘cream off’ He said some get caught like Fried Bankman . The small people invariably lose their little investment but ‘was only a bit fun, could gone the other way’. Those st the top feed off the little investments. Personally I would not touch it with a barge pole as I simply do not trust it.

Yeah but that never happened did it

I have no idea but I have never known any of the numerous people around me who claim to own them ever have a sudden ability to have a massive change in fortunes. Like I know numerous people who do the lottery but not anyone who has won more than couple hundred quid. Same with premium bonds loads up my local say they have won £25 or £50 but no jackpots. I know my house in Hackney has gone up to a small fortune in value since I paid 55k for it in the 80’s . That is a certainty

You have no idea whether that never happened?

[Yanzi Gravy]

Yeah but that never happened did it

I have no idea but I have never known any of the numerous people around me who claim to own them ever have a sudden ability to have a massive change in fortunes. Like I know numerous people who do the lottery but not anyone who has won more than couple hundred quid. Same with premium bonds loads up my local say they have won £25 or £50 but no jackpots. I know my house in Hackney has gone up to a small fortune in value since I paid 55k for it in the 80’s . That is a certainty

You have no idea whether that never happened?

Bricks and mortar went up for sure. Dunno about cyber money. Possibly in theory it did. Nobody has ever showed me the result of their profits.

[Rich Tea Wellin]

I withdrew £600 to my bank account Thursday night and my balance is now back to where it was on Thursday afternoon

[Hoover Attack]

That’s not true mate - you have approximately 0.01 less BTC than you did on Friday

[Adz]

I have no idea but I have never known any of the numerous people around me who claim to own them ever have a sudden ability to have a massive change in fortunes. Like I know numerous people who do the lottery but not anyone who has won more than couple hundred quid. Same with premium bonds loads up my local say they have won £25 or £50 but no jackpots. I know my house in Hackney has gone up to a small fortune in value since I paid 55k for it in the 80’s . That is a certainty

You have no idea whether that never happened?

Bricks and mortar went up for sure. Dunno about cyber money. Possibly in theory it did. Nobody has ever showed me the result of their profits.

You're not comparing apples with apples though as you're talking about a primary place of residency vs an investment. If you compared a leveraged investment in property vs a leveraged investment in Bitofacon over the same time period then you could work it out. (although you'd never be able to leverage into Bitofacon in the same way as property)

[Yanzi Gravy]

You have no idea whether that never happened?

Bricks and mortar went up for sure. Dunno about cyber money. Possibly in theory it did. Nobody has ever showed me the result of their profits.

You're not comparing apples with apples though as you're talking about a primary place of residency vs an investment. If you compared a leveraged investment in property vs a leveraged investment in Bitofacon over the same time period then you could work it out. (although you'd never be able to leverage into Bitofacon in the same way as property)

It is what one feels comfortable with I think. I was listening to a city report on Radio 4 this morning and even they said it is not like ‘buying a gold ingot and making jewellery out of it to sell on’. This was someone from Bloomberg having difficulty with explains the concept. I kind of understood a chap on here yesterday saying he withdrew money and his balance was up again after but they were also explaining that you cannot just go buy Bitofacon in the high street. You have to buy it all offshore and this is all unregulated so I am fine being cautious. Would anyone here transfer their house into Bitofacon? I doubt it.

[Rich Tea Wellin]

Yeah, banks are trustworthy

[Yanzi Gravy]

Yeah, banks are trustworthy

I don’t trust any of it I’m just a small man trying to survive like everyone else. I know nothing about banks and tradings.

[Hoover Attack]

Would anyone here transfer their house into Bitofacon? I doubt it.

Not sure what this even means?

I don't know anyone who wishes they held less BTC than they actually do. Everyone understandably wishes they had invested more and invested earlier.

[CEB]

OK, another question. Is your intention with your investment:

A: choose an opportune moment to get your money in sterling at a time when you think “this might be as good as it gets, and if cashing out on it means I’ve done so too early, I’m still happy with the return”

B: you’re in it for the long haul, on the basis that regardless of fluctuations, Bitofacon will have long term value as Bitofacon (if so please let me know what that is?)

C: something else?

[Currywurst and Chips]

C: Get to the moon

[Hoover Attack]

C: Get to the moon

In a flying Lambo.

[Hoover Attack]

But seriously B. Never selling until we have reached what feels like it's true valuation, and we're multiples away from that, possibly decades in terms of time.

[Yanzi Gravy]

Would anyone here transfer their house into Bitofacon? I doubt it.

Not sure what this even means?

I don't know anyone who wishes they held less BTC than they actually do. Everyone understandably wishes they had invested more and invested earlier.

Like everyone who wished they bought a house when they were a tenth of what they were now. You must not miss the boat. Whilst not everyone can afford to buy shares bitcoins or property, there are some who squandered anything they earned on new cars , holidays and booze.

[Rich Tea Wellin]

I’m a bit different. I’ve only invested a small amount. My last deposit was 2020. I’ve used some profits to buy other coins when the prices are low. At this point I’ve withdrawn what I put in so anything left is a bit of a plaything. Long term I’m leaving 90% of it in but at moments that I feel the price is high (not much aside from gut feeling and 5 years of watching it move) I withdraw small amounts so I have a real world win and even if it all crashed tomorrow I’d be up.
For example I just booked a holiday and my account grew about 3 grand in 2 weeks. So I withdrew a small amount of that and feel like I’ve got a free holiday.
Good chance I’ll regret it in ten years time when it’s worth x25 but also a chance it’s worth nothing.

[Rich Tea Wellin]

I did cringe the other day, my first btc purchase the price of a btc was £6k. Now worth 55k and I wish I was bolder

[Adz]

As someone who probably understands it more than most on here I think it is a huge risk asset. The only way it will last is if countries are willing to cede their ownership of currency for it. You might get 3rd world countries, who's fiat is worthless jumping on, but never a county with any strength in the world.

The advent of quantum computing will make its security soft, so there is another big risk there.

If you think the investment banks offering products on it (etfs, futures, etc) gives it more legitimacy then you don't remember the packaged sh*t that caused the gfc.

I think there's more chance of it being worth closer to zero than multiples of where it currently is.

I am somewhat risk averse though, and appreciate this probably clouds my judgement, but I have 25 years of working in IT for major global investment banks behind me.

[Dunners]

As someone who probably understands it more than most on here I think it is a huge risk asset. The only way it will last is if countries are willing to cede their ownership of currency for it. You might get 3rd world countries, who's fiat is worthless jumping on, but never a county with any strength in the world.

The advent of quantum computing will make its security soft, so there is another big risk there.

If you think the investment banks offering products on it (etfs, futures, etc) gives it more legitimacy then you don't remember the packaged sh*t that caused the gfc.

I think there's more chance of it being worth closer to zero than multiples of where it currently is.

I am somewhat risk averse though, and appreciate this probably clouds my judgement, but I have 25 years of working in IT for major global investment banks behind me.

I'm with you on this. Play long, be boring - is my strategy.

Also, the prevalence of BTC ETF products etc is not indicative that those offering them have faith in BTC. Aside from their propensity to package sh*t, it's just indicative of their faith in an opportunity to extract a fee from traders.