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June 24 2021 7.41pm

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View Tom-the-eagle's Profile Tom-the-eagle Flag Croydon 08 Jan 21 10.40am Send a Private Message to Tom-the-eagle Add Tom-the-eagle as a friend

Originally posted by Stirlingsays

That's cool.

It's all about how you think the economy is going and how the attitude towards digital currency is going.

I bought when the price was around 2100, it's currently around 2850, which means I'm about 300 up.

I fully agree mate, it could all be gone tomorrow.

What I will say is this, when it comes to investments if someone is lucky enough to have some excess and wants to have a punt. Then they have to fully back their judgement and accept that luck will always play a factor in even the most astute investment.

In my view Bitcoin goes up for at least the next couple of months because of several factors.

I'll talk about one, we are entering a new administration with different attitudes to the economy....that creates uncertainty with normal currencies, hence that's one driver for Bitcoin doing well right now.

At some point that rise will stop and when that is will be a combination of knowing when your coin is over valued and judging people's attitudes towards economic stability and Bitcoin.

Edited by Stirlingsays (08 Jan 2021 9.59am)


I think you are viewing Bitcoin like gold which has always been viewed as a safe haven when the economy is rocky. My own experience of Crypto has been that there has been no real rhyme or reason as to its rise and fall. That’s not to say you will be wrong though.
Personally I just look at the data from the past three years and try and work from there if it’s due to rise or not.

In honestly, it’s probably no better than sticking your thumb in the air but have been lucky so far.

 


"It feels much better than it ever did, much more sensitive." John Wayne Bobbit

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View Stirlingsays's Profile Stirlingsays Flag 08 Jan 21 2.37pm Send a Private Message to Stirlingsays Holmesdale Online Elite Member Add Stirlingsays as a friend

Originally posted by Tom-the-eagle


I think you are viewing Bitcoin like gold which has always been viewed as a safe haven when the economy is rocky. My own experience of Crypto has been that there has been no real rhyme or reason as to its rise and fall. That’s not to say you will be wrong though.
Personally I just look at the data from the past three years and try and work from there if it’s due to rise or not.

In honestly, it’s probably no better than sticking your thumb in the air but have been lucky so far.

Well, we'll see I guess.

Unless you have really large sums invested there are probably more important income streams to worry about.

Those streams are under threat enough as it is.

Edited by Stirlingsays (08 Jan 2021 2.37pm)

 


'Who are you and how did you get in here? I'm a locksmith. And, I'm a locksmith.' (Leslie Nielsen)

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View Stirlingsays's Profile Stirlingsays Flag 08 Jan 21 2.39pm Send a Private Message to Stirlingsays Holmesdale Online Elite Member Add Stirlingsays as a friend

Originally posted by cryrst

So cashing out is as much of a gamble as buying. Like a bounced cheque. Once you give them your coin who will guarantee a payment into a bank account; which ironically these clever people may well be able to access bearing in mind they have your details.

If you are with an established exchange you're ok.

People cash out all the time.

 


'Who are you and how did you get in here? I'm a locksmith. And, I'm a locksmith.' (Leslie Nielsen)

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View Goal Machine's Profile Goal Machine Flag The Cronx 11 Jan 21 9.01am Send a Private Message to Goal Machine Add Goal Machine as a friend

Came across this article this morning:

[Link]

FCA's latest crypto warning: 'Prepare to lose all your money'

The FCA has issued another warning to the markets and consumers regarding cyrptocurrencies, a day after new rules came into force requiring cryptocurrency firms to comply with anti-money laundering rules.

In a statement posted to the markets this morning, the regulator said that if they invest in crypto products, consumers should be prepared to lose all of their money.

‘The FCA is aware that some firms are offering investments in cryptoassets, or lending or investments linked to cryptoassets, that promise high returns,’ it said.

‘Investing in cryptoassets, or investments and lending linked to them, generally involves taking very high risks with investors’ money. If consumers invest in these types of product, they should be prepared to lose all their money.’

The FCA added that consumers should be aware that they may not have final recourse to the Financial Services Compensation Scheme (FSCS) or the Financial Ombudsman Service (FOS) if things do indeed go pear-shaped. A warning about scams also followed.

‘For cryptoasset-related investments, consumers are unlikely to have access to the FOS or the FSCS if something goes wrong.

‘Consumers should be wary if they’re contacted out of the blue, pressured to invest quickly or promised returns that sound too good to be true. Visit the FCA’s ScamSmart pages for more information on how consumers should protect themselves from fraud.’

The FCA banned the sale of derivatives and exchange traded notes that reference certain types of cryptoassets to retail consumers in October 2020.

As of yesterday, all UK cryptoasset firms must register with the FCA under regulations to tackle money laundering. Operating without a registration is a criminal offence.

The moves follow months of work examining consumer risk in the sector. Back in February, the FCA probed Sipp providers over their exposure to cryptocurrencies, for instance. A year prior to that, it had sought out advisers’ views on regulating the crypto assets.

In a note accompanying its explanation of the ban, the FCA said it ‘considers these products to be ill-suited for retail consumers due to the harm they pose.’

It further estimated that consumers would be saved around £53m as a result of the ban itself.

 

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View cryrst's Profile cryrst Flag Chatham 11 Jan 21 1.37pm Send a Private Message to cryrst Add cryrst as a friend

Originally posted by Goal Machine

Came across this article this morning:

[Link]

FCA's latest crypto warning: 'Prepare to lose all your money'

The FCA has issued another warning to the markets and consumers regarding cyrptocurrencies, a day after new rules came into force requiring cryptocurrency firms to comply with anti-money laundering rules.

In a statement posted to the markets this morning, the regulator said that if they invest in crypto products, consumers should be prepared to lose all of their money.

‘The FCA is aware that some firms are offering investments in cryptoassets, or lending or investments linked to cryptoassets, that promise high returns,’ it said.

‘Investing in cryptoassets, or investments and lending linked to them, generally involves taking very high risks with investors’ money. If consumers invest in these types of product, they should be prepared to lose all their money.’

The FCA added that consumers should be aware that they may not have final recourse to the Financial Services Compensation Scheme (FSCS) or the Financial Ombudsman Service (FOS) if things do indeed go pear-shaped. A warning about scams also followed.

‘For cryptoasset-related investments, consumers are unlikely to have access to the FOS or the FSCS if something goes wrong.

‘Consumers should be wary if they’re contacted out of the blue, pressured to invest quickly or promised returns that sound too good to be true. Visit the FCA’s ScamSmart pages for more information on how consumers should protect themselves from fraud.’

The FCA banned the sale of derivatives and exchange traded notes that reference certain types of cryptoassets to retail consumers in October 2020.

As of yesterday, all UK cryptoasset firms must register with the FCA under regulations to tackle money laundering. Operating without a registration is a criminal offence.

The moves follow months of work examining consumer risk in the sector. Back in February, the FCA probed Sipp providers over their exposure to cryptocurrencies, for instance. A year prior to that, it had sought out advisers’ views on regulating the crypto assets.

In a note accompanying its explanation of the ban, the FCA said it ‘considers these products to be ill-suited for retail consumers due to the harm they pose.’

It further estimated that consumers would be saved around £53m as a result of the ban itself.

So pensions are invested in crypto?
Wont there be a choice for the investor on the risk.

 

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View chris123's Profile chris123 Flag hove actually 11 Jan 21 1.41pm Send a Private Message to chris123 Add chris123 as a friend

Originally posted by cryrst

So pensions are invested in crypto?
Wont there be a choice for the investor on the risk.

The pension industry is regulated - so wouldn't have thought so - there ae still scams though sadly.

 

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View Tom-the-eagle's Profile Tom-the-eagle Flag Croydon 11 Jan 21 2.07pm Send a Private Message to Tom-the-eagle Add Tom-the-eagle as a friend

Have today sold off all my crypto.

Market in free fall at the moment.

 


"It feels much better than it ever did, much more sensitive." John Wayne Bobbit

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View ASCPFC's Profile ASCPFC Flag Pro-Cathedral/caravan park 11 Jan 21 2.18pm Send a Private Message to ASCPFC Add ASCPFC as a friend

Originally posted by Tom-the-eagle

Have today sold off all my crypto.

Market in free fall at the moment.

Afraid of regulations from new regimes like Biden's tax all, spend all.

 


I used to put the manager's name in front of Red and Blue but got fed up with changing it. If someone cool becomes our manager then maybe..

Red and Blue Army!

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View Tom-the-eagle's Profile Tom-the-eagle Flag Croydon 11 Jan 21 2.23pm Send a Private Message to Tom-the-eagle Add Tom-the-eagle as a friend

Originally posted by ASCPFC

Afraid of regulations from new regimes like Biden's tax all, spend all.

Will hopefully buy it all back again in a few days at half the price

 


"It feels much better than it ever did, much more sensitive." John Wayne Bobbit

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View Stirlingsays's Profile Stirlingsays Flag 11 Jan 21 4.38pm Send a Private Message to Stirlingsays Holmesdale Online Elite Member Add Stirlingsays as a friend

It's carnage out there!

 


'Who are you and how did you get in here? I'm a locksmith. And, I'm a locksmith.' (Leslie Nielsen)

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View cryrst's Profile cryrst Flag Chatham 11 Jan 21 5.46pm Send a Private Message to cryrst Add cryrst as a friend

Originally posted by Tom-the-eagle

Have today sold off all my crypto.

Market in free fall at the moment.

Did the dough hit your bank then?

 

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View chris123's Profile chris123 Flag hove actually 11 Jan 21 6.08pm Send a Private Message to chris123 Add chris123 as a friend

Originally posted by Stirlingsays

It's carnage out there!

The historic volatility should warn off most I'd have thought.

 

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