Religion and Ethics Forum
General Category => General Discussion => Topic started by: Walter on November 03, 2017, 10:24:28 AM
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does anyone have any experience or thoughts on investing in crypto currency such as Bitcoin or Ethereum.
My personality tends towards a bit of risk taking , what about you?
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Definitely NOT!
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Definitely NOT!
I wouldn't expect anything different from you Floo, thanks anyway .
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I wouldn't expect anything different from you Floo, thanks anyway .
I am not a risk taker where money is concerned..
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I've never really paid much attention to the likes of Bitcoin assuming them to be a bit dodgy and not built on solid foundations. However thats only an impression. If you"ve looked into it and are satisfied, why not? Can it be any worse than gsmbling on the issue of one horse being able to run faster than another?
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I've never really paid much attention to the likes of Bitcoin assuming them to be a bit dodgy and not built on solid foundations. However thats only an impression. If you"ve looked into it and are satisfied, why not? Can it be any worse than gsmbling on the issue of one horse being able to run faster than another?
Gambling is a fool's game, there are no poor bookies.
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I've never really paid much attention to the likes of Bitcoin assuming them to be a bit dodgy and not built on solid foundations. However thats only an impression. If you"ve looked into it and are satisfied, why not? Can it be any worse than gsmbling on the issue of one horse being able to run faster than another?
ive been doing quite a bit of research and horse racing would seem to hold a far greater risk .To be honest , if you can afford to loose it then the risk becomes very low and from what i can see the returns in this field can be very high
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Gambling is a fool's game, there are no poor bookies.
Dont get me wrong, I agree. I also recognise that people do strange things with their money for all sorts of reasons, provided they know when to stop I wouldnt wish to curtail whatever pleasure they derive from it. I do realise there is another conversation to be had about gambling addiction but I dont think that was what Walter was aiming for with this thread.
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ive been doing quite a bit of research and horse racing would seem to hold a far greater risk .To be honest , if you can afford to loose it then the risk becomes very low and from what i can see the returns in this field can be very high
And you can afford to loose, can you?
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Gambling is a fool's game, there are no poor bookies.
do you actually have a book of clichés at your fingertips Floo?
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And you can afford to loose, can you?
no one wants to loose Floo, but yes I have a few quid .
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do actually have a book of clichés at your fingertips Floo?
I was stating a fact. My husband and I are reasonably comfortable financially in our old age because we have been very careful with our money over the years and haven't taken any risks. Apart from a mortgage, we never borrowed money, preferring to do without if we couldn't afford to buy something outright.
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I was stating a fact. My husband and I are reasonably comfortable financially in our old age because we have been very careful with our money over the years and haven't taken any risks. Apart from a mortgage, we never borrowed money, preferring to do without if we couldn't afford to buy something outright.
I totally agree with that which is ironic because for many years I was in the money lending business and the only loan I had was a mortgage .
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I totally agree with that which is ironic because for many years I was in the money lending business and the only loan I had was a mortgage .
And as a money lender what did you do when people couldn't repay their loans, send the mob round?
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And as a money lender what did you do when people couldn't repay their loans, send the mob round?
yes, I was also the ''mob'' , I had a wonderful selection of baseball bats and torture devices ::)
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yes, I was also the ''mob'' , I had a wonderful selection of baseball bats and torture devices ::)
Now why does that response not surprise me? ::)
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Now why does that response not surprise me? ::)
you do realise , money lending within the law is a perfectly respectable business, without which most people would have very different life styles
The skill in successful profitable lending is the ability to determine if the borrower has the will and ability to repay the loan as agreed .
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you do realise , money lending within the law is a perfectly respectable business, without which most people would have very different life styles
The skill in successful profitable lending is the ability to determine if the borrower has the will and ability to repay the loan as agreed .
Money lenders have the most wonderful reputation for being caring and considerate, NOT! >:(
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Money lenders have the most wonderful reputation for being caring and considerate, NOT! >:(
I'm guessing you must have many in your acquaintance then Flue.
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I have worked in the credit industry, loans are fine so long as you repay them on time.
But the likes of Bit coins? No I don't want spend my life worrying about things that don't exist.
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I'm guessing you must have many in your acquaintance then Flue.
HA! HA! ::)
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But the likes of Bit coins? No I don't want spend my life worrying about things that don't exist.
I think the investors who have made considerable returns on Bitcoin may not agree with you .
and if you can afford to loose money , there's no worry involved .
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I think the investors who have made considerable returns on Bitcoin may not agree with you .
and if you can afford to loose money , there's no worry involved .
You must be very well off indeed if you can afford to lose money, especially in something as dodgy as Bitcoins appear to be.
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You must be very well off indeed if you can afford to lose money, especially in something as dodgy as Bitcoins appear to be.
Can you outline your objections to crypto currencies in general, and Bitcoin in particular?
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You must be very well off indeed if you can afford to lose money, especially in something as dodgy as Bitcoins appear to be.
I wouldn't say well off, I was able to retire at a relatively young age and then I liquidated all my assets which gave me the freedom to live as I do .
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Can you outline your objections to crypto currencies in general, and Bitcoin in particular?
flippin' eck I forgot to ask that!!
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Can you outline your objections to crypto currencies in general, and Bitcoin in particular?
I have heard various accounts of Bitcoins not being a good idea as they are virtual not real, and people can lose heavily on them.
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All choices in money terms, borrowing, not borrowing, keeping your money in a bank or investing in the stock market directly or via a pension are gambling. Ifypu are risk averse you are still gambling. The crypto currencies are a bet that one of them, and in particular the one you choose will emerge into a market where that is the base currency. Not investing in them is also a gamble as should one of them be successful then cash or traditional currency may be devalued.
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I have heard various accounts of Bitcoins not being a good idea as they are virtual not real, and people can lose heavily on them.
virtual does not mean 'not real''
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All choices in money terms, borrowing, not borrowing, keeping your money in a bank or investing in the stock market directly or via a pension are gambling. Ifypu are risk averse you are still gambling. The crypto currencies are a bet that one of them, and in particular the one you choose will emerge into a market where that is the base currency. Not investing in them is also a gamble as should one of them be successful then cash or traditional currency may be devalued.
Whatever! ::)
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I have heard various accounts of Bitcoins not being a good idea as they are virtual not real, and people can lose heavily on them.
which they can on 'real' currencies. All currency is virtual, it's about faith. Yes, maybe backing it by a 'gold standard' might reduce risks in dome ways but no major currency is backed by a gold standard in real terms, and even then a hold standard is simply another piece of virtual currency. Money isn't real. It's as figment of our joint imaginations. In that sense all crypto currencies are no different.
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which they can on 'real' currencies. All currency is virtual, it's about faith. Yes, maybe backing it by a 'gold standard' might reduce risks in dome ways but no major currency is backed by a gold standard in real terms, and even then a hold standard is simply another piece of virtual currency. Money isn't real. It's as figment of our joint imaginations. In that sense all crypto currencies are no different.
yes, well put
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Whatever! ::)
the spirit of Keynes posts amongst us.
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This is all getting a bit beyond me as my ability at maths isn't much better than that of a small child, if as good. I check all our bank accounts daily just to see that nothing is amiss. If I am concerned I ask our eldest to sort it out for me.
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This is all getting a bit beyond me as my ability at maths isn't much better than that of a small child, if as good. I check all our bank accounts daily just to see that nothing is amiss. If I am concerned I ask our eldest to sort it out for me.
awww that's nice ???
and yet you have a go at me without knowing anything about the subject . I made a living lending money, not selling drugs to school kids from an ice-cream van
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awww that's nice ???
I am very fortunate indeed that our eldest daughter has taken after her father in having a good head on her shoulders where finances are concerned. My husband was always in charge until his brain haemorrhage in 2006, I had no need to be involved before then, which suited me fine.
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We (husband and I) have some stocks and shares and husband is part of a funding circle which is helpful to people in business plus he gets a decent return from that.
Must admit had never heard of Bitcoin before this thread. Doesn't appeal to me but if someone is prepared to lose (not LOOSE) some funds it might be worth giving it a go because they could be lucky.
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This is all getting a bit beyond me as my ability at maths isn't much better than that of a small child, if as good. I check all our bank accounts daily just to see that nothing is amiss. If I am concerned I ask our eldest to sort it out for me.
It's got nothing to do with maths! It's got to do with any belief that something is of value, separated from what someone as an individual will give you for it is about an idea of virtual value. So if you go into a tea shoppe and order a lovely Lady Grey tea and the olde wenche behind thee countere says 'That'lle bee one pounde and eightye five pence, mee duckse' (Stope with the e's'e, ede!) And you give her a five pound note, it's simply a piece of paper that you think you can exchange with others. That's no different from a bitcoin amount.
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It's got nothing to do with maths! It's got to do with any belief that something is of value, separated from what someone as an individual will give you for it is about an idea of virtual value. So if you go into a tea shoppe and order a lovely Lady Grey tea and the olde wenche behind thee countere says 'That'lle bee one pounde and eightye five pence, mee duckse' (Stope with the e's'e, ede!) And you give her a five pound note, it's simply a piece of paper that you think you can exchange with others. That's no different from a bitcoin amount.
A fiver is something I can hold in my hand, I can't with a Bitcoin.
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A fiver is something I can hold in my hand, I can't with a Bitcoin.
one Bitcoin today has a "real " value today of about 4000$
Earlier this week it was about 3800$
About 7 years ago one Bitcoin was worth about 38 cents
Some people are now very wealthy
Perhaps I missed the boat !!
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A fiver is something I can hold in my hand, I can't with a Bitcoin.
Indeed you can. It's a pretty piece of paper with some odd features . It's worth is virtual and based on faith. There is no intrinsic difference at that level between it and bitcoin.
Two years ago it bought me two coffees and churros in Catalunya. This year it bought two coffees and half a portion of churros. So it's a gamble.
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We (husband and I) have some stocks and shares and husband is part of a funding circle which is helpful to people in business plus he gets a decent return from that.
Must admit had never heard of Bitcoin before this thread. Doesn't appeal to me but if someone is prepared to lose (not LOOSE) some funds it might be worth giving it a go because they could be lucky.
So you gamble on shares, and then comment on something that is essentially no different but you din't understand. Wow.
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I am in favour of my Premium bonds, which come up nearly every month, like today, for instance and do so much better than our savings accounts.
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I am in favour of my Premium bonds, which come up nearly every month, like today, for instance and do so much better than our savings accounts.
So that's another way you like to gamble
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So that's another way you like to gamble
How is that a gamble, when you never lose your original investment?
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How is that a gamble, when you never lose your original investment?
Because it might be a bad use of the money overtime. Let's say I put lots of money underneath the mattress. I will still have it but if inflation hits badly, it might be worth more as filling a quilt than anything else.
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So you gamble on shares, and then comment on something that is essentially no different but you din't understand. Wow.
That's rather a dismissive post NS, something of a put down. I assure you I'm far from stupid but don't think a lot about finances.
I didn't comment unfavourably, just hadn't heard of Bitcoin before is all but now looked it up. I won't say any more on this thread.
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How is that a gamble, when you never lose your original investment?
you gamble because your original investment attracts no interest .
The gamble is the amount of divi you get
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That's rather a dismissive post NS, something of a put down. I assure you I'm far from stupid but don't think a lot about finances.
I didn't comment unfavourably, just hadn't heard of Bitcoin before is all but now looked it up. I won't say any more on this thread.
And I owe you apologies, I had misread the post as being from Floo and was commenting on the basis of that in light of Floo's other posts here. My comments are therefore here both irrelevant and based on wrong perceptions. For which I apologise profusely.
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Because it might be a bad use of the money overtime. Let's say I put lots of money underneath the mattress. I will still have it but if inflation hits badly, it might be worth more as filling a quilt than anything else.
Well it hasn't been in my case, as I say my bonds come up nearly every month. When I was a kid of 17 I spent a fiver, a substantial sum of money in those far off days, on bonds and was rewarded a few years later when I came up with £50.
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Well it hasn't been in my case, as I say my bonds come up nearly every month. When I was a kid of 17 I spent a fiver, a substantial sum of money in those far off days, on bonds and was rewarded a few years later when I came up with £50.
which means if you win, you don't think of it as a gamble. Doesn't mean that it isn't. Bloke down the pub the other night bought me money from his sure thing investment on Anthony Joshua.
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Well it hasn't been in my case, as I say my bonds come up nearly every month. When I was a kid of 17 I spent a fiver, a substantial sum of money in those far off days, on bonds and was rewarded a few years later when I came up with £50.
I hsd £1 invested in PB on my behalf 55 years ago.
I still have it.
Nothing has 'come up' so far. Maybe it is time to withdraw it and see if I could still buy now what it could then? Say 20 pints of milk. Or not.
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which means if you win, you don't think of it as a gamble. Doesn't mean that it isn't. Bloke down the pub the other night bought me money from his sure thing investment on Anthony Joshua.
the irony is both amazing and amusing as well as being very revealing
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the irony is both amazing and amusing as well as being very revealing
To be honest, it's not really that amazing. We as a species do very bad on tests about sunk cost and confirmation bias. And on the strict understanding that I am no expert , and this is not advice, were I interested in a punt currently a spread of crypto currencies would be interesting. In all likelihood biased towards bitcoin, but remember first and best known doesn't always win. There is an element if a bubble here and I don't think it has reached the heights of that, but what you ate hoping for is that at some stage it crystallises the potential in the way Apple, Amazon did. So it's not a classic bubble in the terms of housing or gold.
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which means if you win, you don't think of it as a gamble. Doesn't mean that it isn't. Bloke down the pub the other night bought me money from his sure thing investment on Anthony Joshua.
How can it be a gamble if you don't lose your money if you don't win a prize?
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How can it be a gamble if you don't lose your money if you don't win a prize?
The money you got from the Premium bind is a prise based on the govt getting more money in. Arguably it's a Ponzi scheme which to my mind makes it immoral.
The fact that you arene guaranteed a prize means the value of your money can and will get lost overtime. If inflation hit your bond could be worthless
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The money you got from the Premium bind is a prise based on the govt getting more money in. Arguably it's a Pinzi scheme which to my mind makes it immoral.
The fact that you arene guaranteed a prize means the value of your money can and will get lost overtime. If inflation hit your bond could be worthless
I don't really understand that, I am happy with my bonds as I said, as they are doing much better than my savings, as are the ones I gave my children.
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How can it be a gamble if you don't lose your money if you don't win a prize?
Did you buy the bonds with a hope that you might win a prize or more?
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I don't really understand that, I am happy with my bonds as I said, as they are doing much better than my savings, as are the ones I gave my children.
and again the bloke who bet on Anthony Joshua was happy with his gamble.
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and again the bloke who bet on Anthony Joshua was happy with his gamble.
Who?
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To be honest, it's not really that amazing. We as a species do very bad on tests about sunk cost and confirmation bias. And on the strict understanding that I am no expert , and this is not advice, were I interested in a punt currently a spread of crypto currencies would be interesting. In all likelihood biased towards bitcoin, but remember first and best known doesn't always win. There is an element if a bubble here and I don't think it has reached the heights of that, but what you ate hoping for is that at some stage it crystallises the potential in the way Apple, Amazon did. So it's not a classic bubble in the terms of housing or gold.
quite right, there are some pitfalls in this kind of investment . I am currently learning what they all are before I invest .I have spoken to a couple of established and safe traditional investment companies who do not feel it is within their current remit to advise people on it.
It would appear it is in the realms of the young tech savvy , just left university types who are dominating the market at the moment to the dismay of the old fuddy duddy establishment who don't like it .
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quite right, there are some pitfalls in this kind of investment . I am currently learning what they all are before I invest .I have spoken to a couple of established and safe traditional investment companies who do not feel it is within their current remit to advise people on it.
It would appear it is in the realms of the young tech savvy , just left university types who are dominating the market at the moment to the dismay of the old fuddy duddy establishment who don't like it .
And that's been true for 5 years now in which time Bitcoin in particular has been a fun roller coaster. Be careful about investing in 'bitcoin' investments rather than either actually mining yourself or what I think is a better bet generally considered investments in Bitcoin Futures and Options. If the CME get involved properly it will lead to a spike up then probably a trend down for a while.
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And that's been true for 5 years now in which time Bitcoin in particular has been a fun roller coaster. Be careful about investing in 'bitcoin' investments rather than either actually mining yourself or what I think is a better bet generally considered investments in Bitcoin Futures and Options. If the CME get involved properly it will lead to a spike up then probably a trend Dow. For a while.
yep , quite right again , Ethereum could be the one to watch. (even Cortana or spell checker doesn't recognise this term!)
anyway I've got a few quid to spend and will keep learning for awhile before I do anything with-it
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Definitely spread the investment, in my just talking pish opinion. But a sensible portfolio of investment should include crypto currencies currently.
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Definitely spread the investment, in my just talking pish opinion. But a sensible portfolio of investment should include crypto currencies currently.
thanks NS, I shall bear that in mind . As is currently obvious I'm a bit of a current anyway.
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does anyone have any experience or thoughts on investing in crypto currency such as Bitcoin or Ethereum.
My personality tends towards a bit of risk taking , what about you?
Does anyone here have the money to invest?
Well does it apply?
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Does anyone here have the money to invest?
Well does it apply?
er yeah ?
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A fiver is something I can hold in my hand
No you can't.
You can hold a piece of paper plastic in your hand that says "five pounds" on it, but that is just a token. In fact, it is really an IOU from the Bank of England. It's only worth something because people think it's worth something.
Most of the money in circulation isn't even in plastic note form. The money in your bank account is just numbers in an electronic ledger. The only thing that makes sterling more "real" than bitcoin is the fact that the government will let you pay your taxes in sterling.