Swedish Paul
Member
- Messages
- 1,811
But if bitcoin crashes, at the start when folks try to get out, they probably won't be able to sell. If you bought low who cares. If you bought at anything involving 4 digits, I can see a huge loss.
Yours is a bizarre statement.....define collapse? Given that you're barely earning 1% in the bank and bitcoin is up several thousand a lot of people would have to suffer a mammoth collapse to be worse off.
Some people thought the internet was “fluff†and now we can't live without it.
Cheers Wattie
I really don’t know, I’ve a small holding but iVe avoided adding more at this level.... have gone elsewhere.How much of your wealth would you put into bitcoins at the current level?
So it’s worth a punt with an amount we all deem sensible.....you gotta be in it to win it.I worked in the city for nearly 15 years and now manage investment funds - mainly hard assets like property. Bitcoin is without doubt a bubble but it could continue for a long time. Unlike real money there is no policy response when things go wrong. Look at financial crisis in 2008, the banks didn't crash as the central banks stood behind the system and people had enough confidence to believe that their intervention would work. There will be no such saferty net for bitcoin. It could (and probably will) drop 90%+ at some point. The best historical example is Tulip mania or the South Sea buble. As the saying goes when the elevator man starts giving you stock tips its time to sell - thats what is happening right now with Bitcoin. But.... I expect it could double, triple or more from here before the collapse- it just depends on how long people are prepared to fail to notice the emperors ball sack is on show.
I worked in the city for nearly 15 years and now manage investment funds - mainly hard assets like property. Bitcoin is without doubt a bubble but it could continue for a long time. Unlike real money there is no policy response when things go wrong. Look at financial crisis in 2008, the banks didn't crash as the central banks stood behind the system and people had enough confidence to believe that their intervention would work. There will be no such saferty net for bitcoin. It could (and probably will) drop 90%+ at some point. The best historical example is Tulip mania or the South Sea buble. As the saying goes when the elevator man starts giving you stock tips its time to sell - thats what is happening right now with Bitcoin. But.... I expect it could double, triple or more from here before the collapse- it just depends on how long people are prepared to fail to notice the emperors ball sack is on show.
Well thats a h3ll of a first post...you'll fit in well here
Welcome to Wayne Rooney
Never knew he had a Maser
As a United Fan, I would have it off you but Rooney isn't one of my favoured players despite being a class player/record goal scorer, (it might be the fact that he's a scouser!) .
Reference Bitcoin, they were trading below £1000 in April, so we're not talking that long ago. They are now trading around £11k. So I'd sell, sell sell. They've lost 7% today alone. If they weren't so much I'd go short on my spread betting account but I would need a deposit of around £2000, for a pound a point drop and I'm not prepared to do that sort of money as a hobbyist better...
Speaking of Wayne Rooney, I won this at a charity auction over the weekend. Shame Man U are not my team, I'd have much preferred a Rooney Everton shirt. It will look nice in my garage, which is currently being converted into a home office. Pics to follow on that next month when it's done.
View attachment 46396
What's a $ this is UK!
I buy petrol in £'s...