Cryptocurrency

[Packmoor_vale]

2 hours ago, MelbourneValiant said:

How did that go? 🤣

I dare not look anymore 😂 

Think any crypto investor knows it’s going take a long time to get into the mainstream 

Now is as good time to start it’s gone back 2 years 

[MelbourneValiant]

On 22/06/2022 at 01:52, Packmoor_vale said:

I dare not look anymore 😂 

Think any crypto investor knows it’s going take a long time to get into the mainstream 

Now is as good time to start it’s gone back 2 years 

I hope you didnt lose much and it recovers for you. Unlike gold or oil or indices there is no underlying value. You cant physically own a bitcoin which makes it really difficult to gauge a true value.

Nobody knows if it will go to 5k or up to a million. Although if it drops to 5k then I would be tempted to throw a bob or two at it.

[Santa]

Buy the dip!

[philpvfc]

I’ve lost 4/5 of my investment. I did get it for long term so not crying over it but not too chuffed.

[Warren]

/The police can seize a cryptocurrency asset in an investigation by a court order. Under money laundering powers for example. But if the criminal or the person the criminal has nominated to hold the key won't give them the key then they can never access the asset. It may be held in custody for ever. How does it ever come out of custody if the police can't investigate the history of the asset and how it came to be in the possession of the suspect individual? How can it ever come out of custody without cooperation? A lucky find of a bit of paper with the key scribbled on it!

So it can dwindle to nothing in custody eroded by inflation or tarnished in reputation. Or it can increase massively in value in which case the Police can be accused of creating wealth for another. 

A whole new world of money, wealth, regulation and policing. Going to have to figure it out. 

[butt lane vale fan]

OK guys thinking of just investing for a bit of fun and interest really. So say I wanted to invest say around £100 how would I go on about doing it and how would I then sell at some point in the future.

[ollyandpatch]

1 minute ago, butt lane vale fan said:

OK guys thinking of just investing for a bit of fun and interest really. So say I wanted to invest say around £100 how would I go on about doing it and how would I then sell at some point in the future.

Download the MODE app takes 5 minutes follow instructions at buy at these levels...

In 18 months time you could buy Dom Telford. Lol

 

[wotsyobeef]

The problem with crypto is that it is being used as an investment. If it were just used as a currency the value would increase naturally as it became more mainstream. The problem with it being used as an investment is that the value has only increased because so many have bought it with no intention to use it but to simply take it out at some point when the value has inflated. Its like exchanging a load of money for euros because you think it is going to do well against the pound then exchanging it back again if it hits a certain value. This is fine if not too many people are doing it, you are lucky or you have your finger on the pulse and are quicker than others, but the price can collapse at any point.

[butt lane vale fan]

11 hours ago, ollyandpatch said:

Download the MODE app takes 5 minutes follow instructions at buy at these levels...

In 18 months time you could buy Dom Telford. Lol

 

Haha cheers mate. I've downloaded and been verified now, so will have a bit of fun between taxi jobs later. Also went on coinbase, but noticed you've recommended Mode before so will stick with that.

[MelbourneValiant]

On 27/06/2022 at 05:05, butt lane vale fan said:

Haha cheers mate. I've downloaded and been verified now, so will have a bit of fun between taxi jobs later. Also went on coinbase, but noticed you've recommended Mode before so will stick with that.

100 quid is fine in principle as it aint worth worrying about. From what I just saw on Mode there is a 1%transaction fee and commission of 0=0005BTC to buy and sell. So if you want buy 100 quids worth it will cost about 110.50 quid and another 10.50quid to sell. So realise a profit if just 1 pound you need a rise in BTC of 22%. Still a bit of fun to get you going. If you ever get into shares then be aware of crapp stocks with huge spreads between the buy and sell price. Good luck.🙂