Published on 12, July, 2020
I have a few just was wondering if anyone else is also into it.
Can people please stop touting crypto as the great saviour of the masses, the poor, whomever. This position simply cannot be supported by the evidence of their historical performance, and the nature of cryptocurrencies themselves. It is dangerous advice and I am very worried that people on here will be convinced by meaningless personal stories of success. If you are relatively poor (I'm sure most of us are on here) then we are actually the people who should be avoiding crypto because it is so risky.
Crypto is a very young market and the values rise and fall drastically, often by the hour. There is absolutely no guarantee the values won't collapse entirely. This is in stark contrast to more conventional investments in stocks, shares, property, cash, and funds. Many respectable people describe crypto investing as more like speculation than investing. Funds - you get dividends. Property - you get rent. And so on. Crypto has no such investment return - you are simply hoping that when you wish to sell there is someone willing to pay more for it than you did.
For every individual success story there are probably just as many failure stories. People do not discuss their failure stories, so what you are seeing and hearing from individuals is a biased sample.
The high volatility in valuations of cryptocurrencies can be seen below. This chart tells me that if you have little savings or income then this is not a sensible place to put your precious money! It is so volatile that you could lose everything.
On top of this there are moves for the sector to be regulated. While this will help prevent individuals from scams (again we on this forum are probably more likely to fall for these than others), the macro effect is likely to be to reduce the overall valuations of cryptocurrencies, so the future is uncertain and potentially not bright going forward.
It is completely unhelpful attacking me claiming that I am jealous, poor, some copy & paste loon who scours Facebook (I lose track of what else I have been called and accused of doing) and that is why I am against cryptocurrencies. I am trying to protect vulnerable people from losing their savings. Please do not be swayed by individuals telling you of their success stories - they may well be telling the truth and have done very well in the past (good for you if this is the case!) but this has absolutely NO predictive value for what will happen to YOU. The volatility of these assets is really scary. Please, please, if you are going to put money into crypto only put what you can live to lose, because this could easily happen.
Crypto is a very young market and the values rise and fall drastically, often by the hour.
^ this..... this is what makes it profitable.would you advise a person who wants to make gains, to put their money on something that instead goes sideways and never moves?to make money, you need to put your money on a big moving asset.... you wont make money if you put it on a asset that moves sideways and is very stable... you may aswel forget about investing entirely if thats your mindset and just keep your money as it is... although saying that, your money doesnt stay stable either, your money is constantly decreasing in value every second due to inflation and due to progression of society. its funny looking at my pension projection.... says in 2090 or whatever i can get like £170 per week from my pension, thats nothing now, but in 2090 or whatever that will be like what..... 0.001p per week? .... it will be worthless by that time. money changes, money devalues, prices of living and items always go up uncontrolably... the house you buy, you think thats a safe investment? housing drasitcally goes up and down and we are actually due for the housing market to collapse any time soon so your house you will buy for 100k will soon fall to 10k or so as the housing bubble is set to reset pretty soon helped along by corona and economic damage and brexit and even the chinese housing industry collapsing which will have a huge knock on effect globally. housing bubble is set to burst, but people still need to buy house to live, do you advise people to not buy house and warn that its risky to buy house, cross a road or live in any such way? lol perhaps it is too risky and instead we must hand all our money over to landlords because that is safer despite that ending with us having nothing and landlords living like kings off our backs? lol
Caelus said:to make money, you need to put your money on a big moving asset.... you wont make money if you put it on a asset that moves sideways and is very stable... you may aswel forget about investing entirely if thats your mindset and just keep your money as it is... although saying that, your money doesnt stay stable either, your money is constantly decreasing in value every second due to inflation and due to progression of society.
Which assets or asset classes are you referring to when you say they are stable? Equities certainly do not meet this description, and this is one of the most popular investment classes. Berkshire Hathaway has tracked S&P 500 data back to 1965. According to the company's data, the compounded annual gain in the S&P 500 between 1965 and 2020 was 10.2%. According to global investment bank Goldman Sachs, 10-year stock market returns (S&P 500 again) have averaged 9.2% over the past 140 years. Similar results for other major indices such as FTSE 100.
10% return over 10 years and you way more than double your initial investment due to compounded returns. You would actualy double it after c. 7 years.
aye, id say making a secure locked bunker under house or garden and filling it with super long lasting food supplies and a water supply is the way to go. and ofcourse for the americans you can fill it up with guns, for us uk folk we can make do with a armory of spoons!
Caelus said:doomsday preparation
You can't eat gold. One must remain mobile and discreet, meek even.
Haha that is funny
if i was promoting riskier assets and scams, id have probably started with shiba inu more and pushed that, instead of me admitting thats a scam coin that still would have made you a billionaire if you put anything into it despite being a scam, but yet i didnt invest into that because thats what i considered a scam. as for bitcoin, bitcoin isnt the scam.... bitcoin is the entire market... if you invest into any crypto it has to be bitcoin, because as we see the market follows it and everything hinges on it. if bitcoin goes down 10% any alt coin goes down 90% .... because bitcoin is the legit leader and has smaller percent moves and should be more to your idea of a legit asset, while the alt coins are the riskier ones with larger payoff that i am not promoting as that requires too much research per coin given theres too many alts to know about these days the only alt id promote would be ethereum.... and even cardano... every single person i got into crypto i promoted them cardano, and everyone that brought cardano got a profit.... do i promote to go into alts now? ... no, because we are at a market top, i promote going into them in 4 years time maybe, or when we next have a crisis as i said in previous posts....buying at a crisis slump is the dummies way of making money off anything as we always get recovery after crisis, you dont need to think on that advice and it isnt even a risk unless society completely collapsed to the point of no return/no recovery, in which case i dont think money would be a issue for you in the future anyway in that situation, in which case id advise people to do their own pre-doomsday preparations on land and supplies if they are concerned about societal collapse. i know id do that if i already had a house and every money was just spare money from then, the next step would indeed to be security steps of doomsday preparation.
optimising an investment portfolio is about trading off risk and return. this is what leads to the expected return, the expected return of an asset given its risk. at no point have I doubted the potential returns linked to crypto. what i have argued - and supported with evidence - is the massive risks associated with these investments. it is utterly meaningless to compare 10% vs 1000% without incorporating the riskiness of the asset.
for members of this forum, I would argue that the most important consideration should be the riskiness of an asset. this, combined with the large number of scams in operation with cryptocurrencies means that the prudent option is for us NOT to be investing.
Can you please desist in promoting investments that are frankly dangerous to members of this forum. Well done for your past successes, I really mean that. But please, please, if you have a shred of decency in you stop your promotion of this risky asset class, to spare the good members of this forum severe financial losses down the line.
i think the russians used them to detect subs and so on and be under water scouts.... it was the saudi arabians they sold them to afterwards that tried to turn them into suicide bombers lol
there have long been rumours about dolphins strapped with bombs being trained by the Russians to swim to submarines and battleships to blow them up!
Caelus said:im not very good at maths
No. I wish it was me, the pigeons are stunning!!! :-)
I hadn't heard about that ! That's immense! I once threatened to buy Afghan High Flyers to teach them to dive bomb Moscow... they can stay on the wing for long enough to fly from UK to Moscow and back! There's loads of stories of them being used for messages in the war, but first I've heard of guiding bombs. I found it fascinating! In fact, a mobile pigeon coup that was used in WW1...
its big where I live. I like all animals and pigeons are kinda amazing ( navigation wise ). Have u heard of the first guided missile ( bomb ) ? Guided to the target by pigeons !
it was never used but worked !
It's the breeders wife! Lol
I used to race them a few years back. But I had them bred for me. And kept at One Loft Races... I never actually had to handle a pigeon...
my garden is a place racing pigeons land in by mistake or for some other reason. I used to find them all the time looking very confused. It stopped when a guy about 100 yards away stopped keeping racing pigeons.
looks like a small holding
is that you ?
Awwwww!