INVESTMENT OPPORTUNITIES for all.....

[Walter]

Can you outline your objections to crypto currencies in general, and Bitcoin in particular?

flippin' eck I forgot to ask that!!

[floo]

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.

[Nearly Sane]

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.

[Walter]

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''

[floo]

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! 

[Nearly Sane]

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.

[Walter]

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

[Nearly Sane]

Whatever! 

the spirit of Keynes posts amongst us.

[floo]

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.

[Walter]

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

[floo]

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.

[Robbie]

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.

[Nearly Sane]

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.

[floo]

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.

[Walter]

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 !!

[Nearly Sane]

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.

[Nearly Sane]

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.

[floo]

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.

[Nearly Sane]

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

[floo]

So that's another way you like to gamble

How is that a gamble, when you never lose your original investment?

[Nearly Sane]

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.

[Robbie]

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.

[Walter]

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

[Nearly Sane]

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.

[floo]

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.