OV9

My Sympathy level reaches an all time low.

"Oh no, I lost money investing in a pretend thing that a celebrity mentioned"

30 seconds of research would have revealed exactly what it was - hopefully there were some lessons learnt...

Exactly, so much fluff and crap.

Some people take all their research from Twitter. If you believed what you read on there then maybe it’s safer the money was lost in the first place.

Dave!

It's worrying that the whole crypto thing is bringing in a load of people who really shouldn't be dabbling. My sister in law is lovely, but not the greatest with money. My brother was saying that she'd racked up £12k of credit card debt fairly recently that he didn't even know about, then at Christmas we were talking about crypto and she came out with something like "...and don't talk to me about Bitcoin...". I enquired if she meant the environmental impact part, but no - she's been buying it...

I think the world of her, but she should not be playing with investing in crypto when she clearly doesn't know what she's doing and has lots of recent debt. But I fear she's exactly the sort of people who are investing and keeping the whole charade going.

The message seems to be "buy Bitcoin, get rich" and I wonder how many young vulnerable people will be pouring in money they don't actually have...

Rich B wrote: Thu Jan 13, 2022 12:53 pm she should not be playing with investing in crypto when she clearly doesn't know what she's doing and has lots of recent debt

Is there a link? Invested by buying on her credit card then lost the money?

It definitely seems to appeal to the gambler types who rely on winning the lottery to solve their financial woes. And that's a big market.

Rule number one with any sort of investing. Don't invest what you can't afford to lose. What do 98% of people do...

Saying "yeah I don't mind losing the money LOL" is very, very different to the experience of actually losing it. Remorse. Hindsight. Failing to learn from it.

I'm hoping there's going to be a backlash soon, as people realise crypto isn't about empowering individuals to take control, it's about allowing scammers & fraudsters to operate scot-free in a totally unregulated arena.

(sorry Gavster )

Mito Man wrote: Thu Jan 13, 2022 1:04 pm Rule number one with any sort of investing. Don't invest what you can't afford to lose. What do 98% of people do...

100% this

It’s magic internet money until it arrives in your current account.

I think it’s a great way to make money if you want to invest in projects but you really have to do your own research and actually believe in what you are investing in.

Dave!

Sundayjumper wrote: Thu Jan 13, 2022 1:14 pm Saying "yeah I don't mind losing the money LOL" is very, very different to the experience of actually losing it. Remorse. Hindsight. Failing to learn from it.

I'm hoping there's going to be a backlash soon, as people realise crypto isn't about empowering individuals to take control, it's about allowing scammers & fraudsters to operate scot-free in a totally unregulated arena.

(sorry Gavster )

I doubt there will be a backlash, more likely regulation will gradually start occurring, after all, fraudsters have always existed in every finance space well before crypto ever existed.

Since this relates to the crypto investors I thought it was relevant to this thread:

The true crypto I get, decentralised bank etc etc..

The NFT thing is just mental, and don’t get me started don buying and selling land in the metaverse

Ah that old chestnut. Finish your real life work, put on your VR headset, then enter your virtual world where you go to work again earning crypto to then buy a virtual plot of land to build your virtual house and go through all the same shit again virtually.

Mito Man wrote: Tue Jan 18, 2022 5:33 pm Ah that old chestnut. Finish your real life work, put on your VR headset, then enter your virtual world where you go to work again earning crypto to then buy a virtual plot of land to build your virtual house and go through all the same shit again virtually.

It's Second Life all over again, but for the characters of Nathan Barley.

I’m sure this will help create well balanced, well socialised people for the future.

Dave!

Carnage out there

I bet all the "$100k+ BTC by the end of 2021" commentators are quietly deleting some of their old videos from YouTube...

Gavster wrote: Mon Jan 24, 2022 2:13 pm I bet all the "$100k+ BTC by the end of 2021" commentators are quietly deleting some of their old videos from YouTube...

Russia I guess is the problem this time. Buying the dip is currently run for the hills

Blimey, RR shares took a dive, as did TM1 but Bacanora stayed firm.

Less said about the entire crypto market the better

Dave!

Bitcoin might hit $10,000 pretty soon. The average transaction price paid for a Bitcoin by greatest volume is a mere $244 so depending on how you look at it there's either going to be plenty of long term holders or if you're into mean reversion theory then that could be a good base for it to eventually return to.

How’s El HODLador doing these days?