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Thread: How many people do you know personally who are invested in crypto currencies?

  1. #1

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    Question How many people do you know personally who are invested in crypto currencies?

    How many people do you know personally who are invested in crypto currencies (yourself included)?

  2. #2
    Super Moderator FunkyDexter's Avatar
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    Re: How many people do you know personally who are invested in crypto currencies?

    Only one that I know of. It hasn't served him as well as many people like to portray.
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    Superbly Moderated NeedSomeAnswers's Avatar
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    Re: How many people do you know personally who are invested in crypto currencies?

    I ended up speaking to taxi driver about this, he decided to tell me all about his Crypto currency journey after i told him a worked in software.

    It went something like, he bought a load of crypto currency, it's value rocketed up to nearly £60,000, but rather than pull it out he got greedy and thought that it would keep going up and up, then the currency crashed in value, he still didn't take it out as he thought the crash wouldn't last and he didn't want to lose something like £40,000 as it would only be worth £20,000 at that point, and now his initial stake is worth less then he paid for it.
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  4. #4
    Super Moderator FunkyDexter's Avatar
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    Re: How many people do you know personally who are invested in crypto currencies?

    My mate's story's not quite as bad as that. He'd been investing for years and had been hedging across several currencies. He'd made a decent whack of money but there was a big downturn across the whole industry last year and he lost almost all of it. I think he's still slightly in the black but not by much.

    I think there's two lessons I'd take from his story:-
    1. Crypto Currencies are about the most volatile investment available and we don't have any historical data to help predict behaviours. If you're going to get into it then you should treat it as gambling rather than investing. Don't put any more into it than you'd be happy punting on the Grand National.
    2. If you want to protect yourself, hedge. It will never offer perfect protection but it does somewhat minimise your exposure.
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  5. #5

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    Re: How many people do you know personally who are invested in crypto currencies?

    thanks for your comments and everyone who took part in the poll so far. It's still open and i welcome further votes.

    I'm in cryptos since summer 2017 and yes there was a crash but what was nice to see is that there is a pretty stable base line. since beginning of this year the price is rising again and many people think that the next huge wave is coming, looks like cryptos are definitely not dead and any hodler who came in too late, may it be a taxi driver or not may see their investments return.
    What also makes me think is that naturally i've got many friends in the tech area and none of them is invested. also the feedback i receive in this poll and elsewhere does not tell me that housewives and gardeners are in the game (this is what is usually said to be the sign of a bubble). We all are tech affine but very few own cryptos. So i personally think that the ATH's will eventually be surpassed by much higher prices.
    Of course it is a risk invest and you may end up loosing everything, so if you decide to, just spend what you can lose.
    And further: i am just a little guy and my opinion should not lead you into anything. i am just pointing it out so do your own research.

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    Super Moderator Shaggy Hiker's Avatar
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    Re: How many people do you know personally who are invested in crypto currencies?

    The trick to investing is not to get into something that you think is going to get hot, the trick is to get into it before it gets hot.

    People get into Bitcoin now because it got so very hot, and they're hoping that it will again. It might, but the people who made a bundle the first time around were the people who got into it before there was any sign that it would get hot. Those who got into it as it heated up, mostly lost a bundle unless they also got out of it while it was hot.

    That's the other problem with it. If it's an investment, then it's cash that you don't immediately need. So, if your investment soars in value, what are you going to do? If you cash out, you have a big wad of money that you need to put somewhere else. If you don't cash out, then you'd best hope that what you're in isn't a bubble, because what goes up may also come down, in which case your valuation will, as well. If that's fine with you, then why have any money in there at all? You aren't using it. You're just watching it rise, then watching it fall, and maybe watching it rise again. Are you just hoping it will be there when you need it? Because otherwise it is just fiction. But if you ARE hoping that it will be there when you need it, you probably should be taking some out at the height to put into something more stable.
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    Superbly Moderated NeedSomeAnswers's Avatar
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    Re: How many people do you know personally who are invested in crypto currencies?

    I'm in cryptos since summer 2017 and yes there was a crash but what was nice to see is that there is a pretty stable base line. since beginning of this year the price is rising again and many people think that the next huge wave is coming, looks like cryptos are definitely not dead
    The trick to investing is not to get into something that you think is going to get hot, the trick is to get into it before it gets hot.
    I would say just dont be too greedy, pull your investment out while the currency is on the way up, once you have made some money obviously. I have read about some other Bit coin investors as well and many of them lost whatever gains they made by waiting for the currency to keep going up and then it dropped a lot.
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  8. #8
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    Re: How many people do you know personally who are invested in crypto currencies?

    ^That.

    You don't have to be pulling everything out. Leave a stake in. But pull a dividend out regularly.
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    Super Moderator Shaggy Hiker's Avatar
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    Re: How many people do you know personally who are invested in crypto currencies?

    The problem then is: What do you do with that money? If it's just an investment, then what you're really doing is re-balancing. It's a good practice, but it can be pretty hard on people psychologically.
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    Superbly Moderated NeedSomeAnswers's Avatar
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    Re: How many people do you know personally who are invested in crypto currencies?

    The problem then is: What do you do with that money?
    Give to me obviously, if you've got no idea on what top spend it on iv'e got plenty and will happily spend it for you !
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  11. #11
    Super Moderator FunkyDexter's Avatar
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    Re: How many people do you know personally who are invested in crypto currencies?

    I am Nigerian Prince and have much wealth but I need your legendary business acumen...


    If you're after investing, I'd say hedge. Invest in some alternative cryptos or in "real" currencies. Even better, mix your risk levels and go for something non-volatile like bonds or gold. It's not glamorous but it'll ensure you end up with a pension.
    You can depend upon the Americans to do the right thing. But only after they have exhausted every other possibility - Winston Churchill

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  12. #12
    Super Moderator Shaggy Hiker's Avatar
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    Re: How many people do you know personally who are invested in crypto currencies?

    Quote Originally Posted by NeedSomeAnswers View Post
    Give to me obviously, if you've got no idea on what top spend it on iv'e got plenty and will happily spend it for you !
    Wow. I never even thought of that. It all makes sense, now that you have explained it, though. I'll certainly give you all of my earnings from my bitcoin investments...oh wait, if you didn't receive anything from me, then I guess I already have.
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    Super Moderator Shaggy Hiker's Avatar
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    Re: How many people do you know personally who are invested in crypto currencies?

    Quote Originally Posted by FunkyDexter View Post
    If you're after investing, I'd say hedge.
    Of course you would. It's always shrubbery, with you folks. I Ni'd not say more.
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  14. #14
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    Re: How many people do you know personally who are invested in crypto currencies?

    That reminded me of the big stock exchange crash in Greece back in the 90's. I was a little kid then and everyone was buying stocks. The exchange market value was close or bigger than every other market in Europe. Everyone were selling their gold teeth in order to get stocks and everyone(of course) was an expect on stock market. I was one of the few that said, don't go this way, it's unrealistic to have stocks higher that Germany and England, be careful, don't sell everything you got for stocks.But who would listen to a little thin boy...And suddenly... KA - POWWWWWWWWW!! All hell broke loose. The stocks were demolished, went down, even lower from their original price before the stock going up. Everyone lost millions and millions of Drachmas (our old and favorite Greek currency. DEATH TO EURO! ). Of course the government (sold out politicians born of a 3 legged camel) and some businessmen that where close to the government, just got filthy rich and everyone else was poor. I was laughing my a## of , it was captain obvious that this would happen but did anybody listen to me? Nooo sir.
    That was the first wave. The second wave is Euro currency. I knew this is going to end bad (just wait a couple of years more) as soon as a cheese pie went from 100 Drachmas to 1 Euro (aka 1 Euro is close to 340 Drachmas). So we where paying 3 times more. This is going to end bad, really bad. Thankfully I don't really have any huge amount of cash so I will just loose my job and probably start searching in the garbage for food but more and more people do that these days so I will blend in.
    Or , well , just be a burden to Funky in England and try to get a job there. Possibly on terra forming, trying to get the damn sun to come out from the clouds more than 10 days per year
    Last edited by sapator; May 17th, 2019 at 03:20 AM.
    Slow as hell.

  15. #15
    Super Moderator FunkyDexter's Avatar
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    Re: How many people do you know personally who are invested in crypto currencies?

    Or , well , just be a burden to Funky in England and try to get a job there.
    Bristol will welcome you with open arms. It rains a lot over here, though, so bring a brolly.

    You've pretty neatly described how bubbles and crashes work. Things are really dangerous when people start borrowing to invest. We're not there with cryptos yet (there are people borrowing but not en-masse) so it doesn't represent a dangerous bubble yet - except for the few folks who are in it.

    Property is probably the more dangerous bubble at the moment (which is worrying because I'm pretty heavily invested) because basically everyone who's in it has borrowed to be there. That said, it's concrete nature, the limitations of supply and the abundancy of demand do mitigate the risks somewhat.

    Edit>"I Ni'd not say more." I've been trying to think of a counter-pun since I saw that and I've got nothing.
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  16. #16
    Superbly Moderated NeedSomeAnswers's Avatar
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    Re: How many people do you know personally who are invested in crypto currencies?

    Or , well , just be a burden to Funky in England and try to get a job there. Possibly on terra forming, trying to get the damn sun to come out from the clouds more than 10 days per year
    Your view of English weather is sooooooooooooo 2 years ago, even in the good old north of England which is notoriously rainy we had 3 months of Sun last year and i mean 3 consecutive months May, June & July where it was solidly mid to late 20's topping out at 35 in some places.

    So you will need to go to Scotland if you want a job terra forming, its still Cold there !!
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  17. #17
    Super Moderator FunkyDexter's Avatar
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    Re: How many people do you know personally who are invested in crypto currencies?

    It's handy that you all had flat caps to keep the glare out of your eyes
    You can depend upon the Americans to do the right thing. But only after they have exhausted every other possibility - Winston Churchill

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  18. #18
    Super Moderator RobDog888's Avatar
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    Re: How many people do you know personally who are invested in crypto currencies?

    Coworker was riding the wave making bucks but then it crashed. Not sure if he still owns any or sold it all
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  19. #19
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    Re: How many people do you know personally who are invested in crypto currencies?

    Quote Originally Posted by NeedSomeAnswers View Post
    Your view of English weather is sooooooooooooo 2 years ago, even in the good old north of England which is notoriously rainy we had 3 months of Sun last year and i mean 3 consecutive months May, June & July where it was solidly mid to late 20's topping out at 35 in some places.

    So you will need to go to Scotland if you want a job terra forming, its still Cold there !!
    Nah funky will understand.
    Anyhow I've been there for a few months. If the weather changed so much till last time I has there then maybe you can dig me some sand and blue seas also and then I'll get the yellow pages (or is it white can't recall) :P


    Hey you top out at 35! Good , we kinda top at 48 here from times to times. It's really nice when even the slightest movement of your arm will make you sweat.
    Slow as hell.

  20. #20
    Superbly Moderated NeedSomeAnswers's Avatar
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    Re: How many people do you know personally who are invested in crypto currencies?

    It's handy that you all had flat caps to keep the glare out of your eyes
    Only in Yorkshire, in Liverpool everyone has 70's sun visors and in Manchester we just let the Sun burn our eyes out cos we dont wanna look naff !

    maybe you can dig me some sand and blue seas
    Will rocks and grey murky sea do ??
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  21. #21
    PowerPoster techgnome's Avatar
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    Re: How many people do you know personally who are invested in crypto currencies?

    Quote Originally Posted by FunkyDexter View Post
    I am Nigerian Prince and have much wealth but I need your legendary business acumen...


    If you're after investing, I'd say hedge. Invest in some alternative cryptos or in "real" currencies. Even better, mix your risk levels and go for something non-volatile like bonds or gold. It's not glamorous but it'll ensure you end up with a pension.
    Now I know this is a scam. Your English is too good. Every word is spelled correctly, and so is the use of your punctuation. If you really expect me to fall or it, you really need to put more effort into it.

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  22. #22
    Super Moderator Shaggy Hiker's Avatar
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    Re: How many people do you know personally who are invested in crypto currencies?

    Quote Originally Posted by RobDog888 View Post
    Coworker was riding the wave making bucks but then it crashed. Not sure if he still owns any or sold it all
    Yeah. I hear lots of bragging when things are going well. I never seem to hear an update when the market crashes, though.
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  23. #23
    Super Moderator FunkyDexter's Avatar
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    Re: How many people do you know personally who are invested in crypto currencies?

    If you really expect me to fall or it, you really need to put more effort into it.
    I only scam well educated and erudite schmucks. I enjoy the challenge.

    Only in Yorkshire...
    Damn, stereotypes denied. I'm also disappointed that, since I moved to Bristol, I haven't seen a single person driving a tractor up the high street. LOTS of hipsters though .
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  24. #24
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    Re: How many people do you know personally who are invested in crypto currencies?

    Two. Both of them just lost their money

  25. #25
    PowerPoster abhijit's Avatar
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    Re: How many people do you know personally who are invested in crypto currencies?

    I and my friend invested in a crypto currency platform. We didn't know what we were doing at the time and possibly still don't.

    Our money has steadily grown, to say the least. I want to cash out, but my friend doesn't. I'll visit this thread in a couple of years to share how it all worked out.
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