BitCoin

[Neapolitan Ice Cream]

Time to invest? The economic sanctions posed on Russia are biting hard against citizens and the elite alike and there are queues of people waiting to withdraw cash fro machines as the value of the Ruble plummets. Equally, a lot of the financial elite and companies have had their equity frozen.

So... time to invest in BitCoin? Since the invasion BitCoin has (as of my last checking) rocketed VERY QUICKLY almost 9.3%. Is now the time for us ordinary folk to try and cash in?

 

[princesscinderella]

My opinion on bitcoin from someone who doesn’t know much about it. Is only going invest what you can afford to lose. It’s definitely a new and there’s still lot of growing pains all these crypto currency’s will go through.

 

[Colleen27]

Ordinary folks trying to cash in or fear-buying with all the WWIII talk going on is why it is pushing higher. The time to buy in was a year or two or three ago, not when it is at near-record highs.

But I'll admit to being a crypto-skeptic. It feels to me like a ponzi scheme. Look at what happened with Dogecoin - a handful of wealthy people create a thing, hype it up, tons of ordinary people buy in, and the original cheerleaders cash out for big profits while the backed-by-nothing crypto becomes virtually worthless. It is the investment equivalent of a slot machine; a few people might get lucky and make a buck, but in the big picture, the house always wins.

 

[EACarlson]

Time to invest in bitcoin if you're a Russian Oligarch whose hard currency assets worldwide have been frozen. Right now you'd be following the trend and quite possibly losing everything. Personally I'd be looking more at precious metals than bitcoin. Less volatile, extremely good historical hedge against inflation, ability to be liquidated just about anywhere on earth.

 

[MillauFr]

Buying Bitcoin is not investing. It is gambling.

 

[MillauFr]

Why not just buy an S&P 500 index fund instead?

 

[mjkacmom]

My 23 and 25 invested in it a few years ago, with money they could afford to lose. Ds23 just bought a platinum coin for $1200 from one of his best friends who works in the industry (which he can afford to lose).

 

[ronandannette]

My 23 and 25 invested in it a few years ago, with money they could afford to lose. Ds23 just bought a platinum coin for $1200 from one of his best friends who works in the industry (which he can afford to lose).

They must be substantially up now. Any ceiling at which they plan to cash out?

 

[kdonnel]

Buying Bitcoin is not investing. It is gambling.

The same is true for almost any investment.

Granted some are more volatile than others but that volatility is what can make an investor a lot of money.

 

[mjkacmom]

They must be substantially up now. Any ceiling at which they plan to cash out?

I think my daughter started with a few hundred, was around $8000 this summer, I’m very financially conservative and suggested cashing half out, but her mindset is since she started with so little she’s letting it ride. I‘m curious about my son, he’s in finance and loves this stuff.

 

[MillauFr]

I'm letting Randolph and Mortimer Duke manage my money. They suggested investing in orange juice futures.

 

[neverlandsky]

No because Russia is skirting sanctions by using crypto instead.

I'm letting Randolph and Mortimer Duke manage my money. They suggested investing in orange juice futures.

$1 . Love Trading Places.

 

[MillauFr]

No because Russia is skirting sanctions by using crypto instead.



$1 . Love Trading Places.

Yep a great line. However I am not hanging out with Billy Ray Valentine at 385 North.

 

[longboard55]

What I see with bitcoin is a lot of people who have never invested before. It is something that should be in the low single digit % of your portfolio.

 

[neverlandsky]

Yep a great line. However I am not hanging out with Billy Ray Valentine at 385 North.

You can see former President Gerald Ford there and get a coke for $7.

 

[georgina]

No, I am old and it is too risky for me. Plus there is the huge amount of energy used by the crypto industry, not good for the environment.

 

[_19disnA]

Bitcoin (and all of the me-too followers) was just made up out of thin air, isn't a company, has no assets, produces no product/service, generates no revenue or profit, has no intellectual property so it is not like all other real companies where you are investing in future earning potential. Sounds more like the classic "pump & dump" scheme where some of those who originally bought it go around talking up how great it is. Anything that can go up/down 10% in one day due to what some celebrity is posting on social media is something I would avoid. Seems like the classic pyramid scheme to me. People who own it need to keep finding others to put more of their money into it or the whole scheme just collapses.

 

[GoingSince1990]

It's certainly more of a gamble than an investment. By all means put a small percentage (like 1-2%) of your investment portfolio into Bitcoin, just so you can enjoy the fun if it does something ridiculous like go up to $500,000. But you have to understand that you could lose it all.

 

[ford family]

The same is true for almost any investment.

Granted some are more volatile than others but that volatility is what can make an investor a lot of money.

A somewhat jaundiced viewpoint

Most investment assets are somebody else's liability whether it is a currency or a bond or stocks and shares. You can follow the background story of your investment in as much detail as you want.

With commodities such as precious or base metals, agricultural products and the energy complex there are underlying uses that affect their valuation and which are easily observable.

With bitcoin and it's ilk you are investing in a product whose price is only driven by supply and demand BUT you have no information about the supply side. There is no regulation, no lender of last resort, no legal entity and no physical manifestation.

ford family

 

[jerrywilliams]

What is your opinion now guys?
Is it time to buy it? There was a very interesting info published here about the crypto currency trading licenses and how to get it in few simple steps. I am a little scared to make the first step but i really think that cryptos are our future and this thing can make a lot of cash for me and my family.