Anyone invest in crypto ?

Crypto-scripto

I had an investment really take off before... meet Bonnie & Clyde...

hell there was one coin that like you i mocked... it was shiba.... i could have brought any amount of it last year.... but i didnt because i brushed it off as a scam coin copying another scam coin that had nothing to offer.... but ya know what? if i put just £1 in back then instead of brushing it off and looking down on it.... id have almost 100 million now lol it isnt the asset at fault... it is we that is at fault for not seeing the bigger picture and brushing things aside so easily when if you think on it, everything is really a scam... what is your money worth? nothing, whats it backed by? nothing... what is stocks worth, nothing, and backed by nothing, but yet all things work to gain profit or loss either way, you just have to play the game is all, doesnt matter if you think one thing is a scam, it maybe, but then again that thing you call a scam can make you a multimillionaire too. money is a scam, one day money will be worthless and banks wont give it you back when they run into trouble too, why do we put so much trust in banks when they can refuse to give us our money in times of their own crisis? we feel so secure in things like money and banks, when those things are around about as risky as bitcoin and online exchanges are, or as stock markets and wall street, or as gold and whatever criminal organisations you buy gold from.

anually thats still garbage when cryptos gain you like 10x bare minimum gains per year.

so your saying 10% per year is better than 1000% per year?

im not very good at maths but i think the higher percent per year is the better deal no?

haha! some humour and some sense, at last :)

Pffftttt! Do you even cyrpto brah? Benched me 3 cryptos this week... Got sheeeeeeer gains! ;-)

annually. this was clear from the response above, and confirmed by the use of the 10% in the stylised example. I don't know how you could have misunderstood.

so 10% gain from 1965 to 2020? ..... who is that good gains for? aliens that can live 10000s of years? 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.

also your chart shows huge gains and thats a tiny small time frame, 2020 to 2021? .... that timeframe is tiny yet has massive up movement growth and anyone that brought in 2020 is still in profit and the smart money brought in even before that, the safe bet is that we take a break and go sideways, but sideways on that chart is choppy with 20k up and down movements, formulate a base and go up again and make all that look flat, thats what its been doing for 10 years repeating over and over and each time people nay say it and each time it advances up. we will be here in 4 years time with bitcoin at 1 million and you still nay saying having missed the ride again lol

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

absolutely agreed

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.

i disagree with u also

I've read many of the comments below about crypto currency which is interesting except the part when people are being nasty to others. Making assumptions about others intellect by their financial means is not acceptable.  Discussions are fine and so are differences in opinion but defacing someones character because they have a different opinion is bullying.  Some people are happy with the basics of food/shelter and love.  Please can people refrain from being mean to each other.

you dont even know the words you speak, your the one that started ad hominen attacks and got all jealous and angry..for what reason precisely? ... i dont know nor do i care... perhaps your poor and jealous, or perhaps you brought the top one time and lost all your money? i dont care, whatever your reason for your nastiness is your reason.

and every word and reply you use is all generic copy paste stuff that you just saw others post.... the tulip thing? that was mass copy posted and repeated all over facebook lol and along with nearly every single word you have typed they are all rubbish copy pasted i have seen all over facebook, you seem like a NT in that regard, you have no words of your own, you just copy what the masses have already wrote all over facebook! lol

ad hominem.

end of.

thats usually for me to ask you, you are the type that never got on early and never could make profit, you are also the type that will likely regret it, then buy the top, then lose. while i a sell out you are the type that will buy in. so in that case it is me asking you to buy tulips, and you buying them at top price.

Would you like to buy some tulips?

LOL

you dont even know what a ETF is, your only jumping into the topic having read a few headlines and saw the word ETF tossed about.... i did answer.... a ETF is contrary to what crypto is, and once the ETFs come then cryptos whole point goes to dust and it collapses. in that sense, it can still be useful to elevate the poor.....IF....IF... the poor have the sense to put their money on shorting it down to nothing, then theyd make loads, more than the amount i made buying on spot lol but then again govs and banks already stepped in to ruin what crypto is and have banned the freedom of the crypto market by banning the futures market section in a few countries so in some countries the reason you cant become rich off it as easy or have as much freedom to make money on it and elevate yourself from it now is because of the governments acting like fascists!