I’m curious on people’s thoughts about Crypto currencies as investments . I already know that many people will feel safer with shares/ stocks and bonds or property. There will be many of the older generation with lack of knowledge and understanding that will tell you to stay away. Myself I have been involved just before the last bull market cycle in 2017.
Crypto is a total gamble at this point in time, nothing backs crypto currencies, they just waste electricity in the crytpographic process that secures the blockchain. I'm a software engineer I know a bit about cryptography although not that much about blockchain technology, I do know enough not to invest any of my own resources in it. Stocks are dangerous and bonds are dangerous and the next crash could be a stock and bond crash at the same time but I still feel safer with those kind of investments, at the end of the day bits of paper of any kind or digital bits in a computer only have value because people agree they have value, assets are only assets if they are tradeable for something you need, and debts only exist if the creditor can deprive you of assets or collect assets that you need in order to settle the debt. Crypto is just a speculators market at the moment.
yep--cash is king for me. nice to have a bit in the bank--even earning no interest. My wife and i have more coming in than going out--which is my idea of comfortable.
Crypto currencies in particular Bitcoin is and continues to be adopted by large institutional investors. They are moving multi billions of dollars into Bitcoin as they see at as safer store of value than the dollar. I do however see the likes of the Etherium with many more practical online development uses.The blockchain is a much more transparent and safe way of doing business, with not one person controlling it. The stock market including property, I see no realistic reason for the boom in prices in the current economic situation. If the conventional markets crashes I’m sure this will have a knock on effect. The huge investment In bitcoin from these institutions moving away from fiat, paints a picture of bitcoin being a safe place to store wealth. I will add that probably 90% of the other crypto currencies will not be around for long. Like most new concepts it takes time for the masses to except and adopt.
I hardly see any cash these days. My daughter was doing cash in home learning today. I couldn’t show her any notes as we don’t have any in the house these days.
I must admit, I pay for everything with a card. I found coins handy was for parking. Now even those are card
No way there is no protection using cash. Credit card for anything above £100- £30.000 section 75 consumer law kicks in.
Druk is a globetrotter he's probably the most travelled member we ever had even more than Dave_E, hence my question as paying in cash would be incredibly inconvenient never mind the loss of Section 75 protection. But he is also quite exceptional in other ways so he may well pay for flights in cash
I lived in Jersey many yrs ago. As flights weren’t that expensive back then, I used cash until I found out from a customs officer for my frequent searches. I was being flagged as a suspicious character for using cash to buy tickets. When I stopped doing this so did the searches.
I'm aware of all that and I'm aware of the use and value of blockchain in accountancy but personally I feel its volatility makes it a dodgy bet. The whole stock market and currency markets are already far to volatile for my tastes, in the last 4 weeks I've been down £8000 and in the last 11 days I'm back up about £7300 leaving me 700 down over a 4 week period, £6300 of the upswing was in the last 11 days, £1700 of it since Friday , these are my pension investments. At one point last year I was £59,000 down but I was happy about that as I was still saving heavily and for once for the benefit of the downside of the market, right now I think the markets are overpriced.
My eldest daughter went to a private school in Manchester and we paid each term through bank transfer. But surprisingly some paid in cash, we discovered.
Not surprised, they are pretty strict about people carrying large amounts of cash out of the country as well. On the main topic I do have a means to easily buy and trade bitcoin if I wanted as I have a Revolut card account but I've never tried.
Bitcoins volatility will drop as time goes on. For now this why people are making so much money from Bitcoin. From March 2019 until today my portfolio is 7x the total investment. I’m not saying I haven’t been down but this all part of the market cycle. If I had stocks I’d be looking to cash out,the markets are unsustainable.
