OV9

Well my inability to buy it a 5 cents. Could have been a millionaire and as rich as shocker in the space of a few weeks.

Do we all think theres an almighty crash coming for Crypto or is it just taking off?

Of course there is

For every speculation boom there's a bust to follow.

Ah but when!

I’ve invested in CumRocket, let’s see how this turns out

Dave!

V8Granite wrote: ↑Wed May 05, 2021 8:49 pm I’ve invested in CumRocket, let’s see how this turns out

Dave!

That one thats down 30 percent today?

I’m still well up on my investment but it’s had huge swings when bulk share owners sell up. It’s such a new currency that relatively small buying and selling sprees have a big affect.

Dave!

I understand about cryptos and blockchain. What I don’t get is why there has to be hundreds of different coins. What makes one better or more valuable than another?

Yeah, I don’t get that either

I’ve read lots of things that say it’s being driven by millennials, which has led me to a theory that I’ve not seen elsewhere.

Millennials are folk in their twenties. That means we’ve got ~5 years before lots of them decide to cash in their winnings and buy houses. That’s what will finally kill it.

Sundayjumper wrote: ↑Thu May 06, 2021 7:00 pm Yeah, I don’t get that either

I’ve read lots of things that say it’s being driven by millennials, which has led me to a theory that I’ve not seen elsewhere.

Millennials are folk in their twenties. That means we’ve got ~5 years before lots of them decide to cash in their winnings and buy houses. That’s what will finally kill it.

It’s odd, it’s a currency with no true value but lots of people want, it can be created from nothing but doesn’t initially have a use either.

You can make big gains but also lose it very quickly. It seems to be that getting in at the right time is absolutely key to most of them as it’s such a volatile thing to put money in.

Dave!

I'm having a little 'gamble' and there is money to be made. It's very volatile with organised pump & dumps being a regular occurrence.

If you read signals and play safe (stop limits etc) it's relatively low risk imo. I am a few hundred up in not a lot of time. That said my ISA's are doing better, excluding emerging markets which I might dump.

V8Granite wrote: ↑Wed May 05, 2021 8:49 pm I’ve invested in CumRocket, let’s see how this turns out

Dave!

Genuine lol at this, just imagining big Dave like the porn barons that own West Ham Utd.

Currently $26,000 up but am in it for the long game, the only way to do this is to write the money off straight away. I have been convinced to take my full stake out though which I’ll do when I decide what number to do it at.

Whatever happens, it’s quite good fun.

Dave!

V8Granite wrote: ↑Thu May 06, 2021 7:39 pm

Sundayjumper wrote: ↑Thu May 06, 2021 7:00 pm Yeah, I don’t get that either

I’ve read lots of things that say it’s being driven by millennials, which has led me to a theory that I’ve not seen elsewhere.

Millennials are folk in their twenties. That means we’ve got ~5 years before lots of them decide to cash in their winnings and buy houses. That’s what will finally kill it.

it can be created from nothing

It isn't created from nothing. It is created from the vast quantities of electricity used in mining it, which in turn is created by using natural resources for what is effectively a pointless pursuit that may return a monetary profit to you, but could equally end up worthless and a complete and total waste of energy.

<Bites tongue>

It very much could indeed, it’s a punt.

Dave!

Can't argue with the logic here

I follow Didi Taihuttu on twitter (guy who sold everything to buy bitcoin) and his job now is promoting bitcoin and other crypto. He claims he doesnt care about money but the value of his investment is ALL he cares about, its his life. Fair enough they travel round the world doing it so his kids have no home or relationships in the process.

As Steve says above at the end of the day you need money to buy things in the real world. Once youve cashed in, paid your capital gains tax there isnt as much left as you first imagined.

Sundayjumper wrote: ↑Thu May 06, 2021 7:00 pm Yeah, I don’t get that either

I’ve read lots of things that say it’s being driven by millennials, which has led me to a theory that I’ve not seen elsewhere.

Millennials are folk in their twenties. That means we’ve got ~5 years before lots of them decide to cash in their winnings and buy houses. That’s what will finally kill it.

There are more millennials in their thirties than twenties now. Going to need to stop using it as a catch all for young people

V8Granite wrote: ↑Thu May 06, 2021 9:19 pm Currently $26,000 up but am in it for the long game, the only way to do this is to write the money off straight away. I have been convinced to take my full stake out though which I’ll do when I decide what number to do it at.

Whatever happens, it’s quite good fun.

Dave!

Might I suggest your next investment is in a tony banks exhaust for an E46 330ci?

I know you don't have one, so I'll look after it till it matures

Beany wrote: ↑Fri May 07, 2021 9:11 am

V8Granite wrote: ↑Thu May 06, 2021 9:19 pm Currently $26,000 up but am in it for the long game, the only way to do this is to write the money off straight away. I have been convinced to take my full stake out though which I’ll do when I decide what number to do it at.

Whatever happens, it’s quite good fun.

Dave!

Might I suggest your next investment is in a tony banks exhaust for an E46 330ci?

I know you don't have one, so I'll look after it till it matures

Cant be more than 200 quid?