Re: The latest price of a Bit-coin.
Posted: Mon Mar 11, 2024 10:43 am
Just set myself up to get involved, hoping to pay off the mortgage by the end of the month.
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It's only when everyone like this has been won over that we'll finally arrive at the true valuation. Mind blowing.
What is mortgage?Proposition Joe wrote: ↑Mon Mar 11, 2024 10:43 am Just set myself up to get involved, hoping to pay off the mortgage by the end of the month.
Sound advice but no need to call your friend ‘it’.Yanzi Gravy wrote: ↑Mon Mar 11, 2024 2:49 pm Personally I would not touch it with a barge pole as I simply do not trust it.
Yeah but that never happened did itYanzi Gravy wrote: ↑Mon Mar 11, 2024 2:49 pm 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.
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 certaintyCurrywurst and Chips wrote: ↑Mon Mar 11, 2024 3:00 pmYeah but that never happened did itYanzi Gravy wrote: ↑Mon Mar 11, 2024 2:49 pm 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.
You have no idea whether that never happened?Yanzi Gravy wrote: ↑Mon Mar 11, 2024 3:40 pmI 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 certaintyCurrywurst and Chips wrote: ↑Mon Mar 11, 2024 3:00 pmYeah but that never happened did itYanzi Gravy wrote: ↑Mon Mar 11, 2024 2:49 pm 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 wrote: ↑Mon Mar 11, 2024 4:06 pmYou have no idea whether that never happened?Yanzi Gravy wrote: ↑Mon Mar 11, 2024 3:40 pmI 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'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 wrote: ↑Mon Mar 11, 2024 5:39 pmHoover Attack wrote: ↑Mon Mar 11, 2024 4:06 pmYou have no idea whether that never happened?Yanzi Gravy wrote: ↑Mon Mar 11, 2024 3:40 pm
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
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.
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.Adz wrote: ↑Mon Mar 11, 2024 10:44 pmYou'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 wrote: ↑Mon Mar 11, 2024 5:39 pm
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.
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.
Not sure what this even means?Yanzi Gravy wrote: ↑Tue Mar 12, 2024 8:01 amWould anyone here transfer their house into Bitofacon? I doubt it.
In a flying Lambo.
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.Hoover Attack wrote: ↑Tue Mar 12, 2024 10:22 amNot sure what this even means?Yanzi Gravy wrote: ↑Tue Mar 12, 2024 8:01 amWould anyone here transfer their house into Bitofacon? I doubt it.
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.
I'm with you on this. Play long, be boring - is my strategy.Adz wrote: ↑Tue Mar 12, 2024 8:04 pm 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.