SURVEY: Cryptocurrency--would you invest?

[Scott]

There has been a lot written and posted about cryptocurrency.   Would you consider investing in them.  

 

Please feel free to leave a comment.

[bert bloggs]

no

[poanoi]

no, hipster stuff goes out of fashion, by now is far to late to make money on

the late comers

[baansgr]

The nett worth is nothing. Spreads of over 30% in a day. Seriously, anyone with an ounce of sense would not even consider this. Some have made millions but far more have lost and will continue to loose. Also be very wary of returns offered by investing and those that get paid for recommendations. NO!

[Peterw42]

NO, prefer the traditional safe investments like tulip bulbs or Thai ponzi schemes.

[Credo]

No, I would never invest in cryptocurrency.   I wouldn't want to repeat the mistake I made by not investing in Microsoft or Apple or some of the dot.coms!

 

[worgeordie]

Just too risky, it seems all the people talking Crypto  Currencies up are

the ones already invested in it,

regards Worgeordie

[quandow]

It's like any pyramid scheme - once it's gone public, it's too late to invest.

[StreetCowboy]

I don't see how its an investment.  Where's the return?

 

Shouldn't the question be:

"Would you gamble on cryptocurrencies?"

or

"Would you speculate on cryptocurrencies".

 

Whenever I see 'cryptocurrencies' I think 'kleptocurrencies'

[SpeakeasyThai]

Simply put, Its not investing. Its pure speculation. Ask yourself this.. how much are you prepared to lose of your hard earnt money?

[AsiaHand]

Only if you are one of the first in these PONZI schemes are you going to make any money.Instead of investing here I hear that there are still some shares in The Brooklyn Bridge left to by.

[denby45]

59 minutes ago, StreetCowboy said:

I don't see how its an investment.  Where's the return?

 

Shouldn't the question be:

"Would you gamble on cryptocurrencies?"

or

"Would you speculate on cryptocurrencies".

 

Whenever I see 'cryptocurrencies' I think 'kleptocurrencies'

Where is the return on Gold?

 

Den

[denby45]

I for one would like cryptos to put all the big banks out of business. I would be quite sane if it was not for banks. They have done my head in over the years and cost me a lot of money.

 

Den

[Inepto Cracy]

I did, at the end of last year as a gamble.

I made a lot of money back , when I got cold feet and the price had risen substantially, I called it quits.

I now have money I did not have before.

Would I ever do it again, I don't think so.

I was lucky but you could loose everything in a matter of minutes, not even days.

[denby45]

Buying crypto's is nothing like a ponzi scheme. However buying into some of the mining operations certainly is. Stay clear of anyone toting BitclubNetwork (BCN) packages. Their scheme is indeed a Ponzi scheme and is of course doomed to fail, just like all the other Ponzi schemes eventually do. It's a question of when rather than if.

 

Den

 

[Ulic]

Like baseball cards and comics, the biggest upside has past leaving the big risk investment. 

Not for me.

[baansgr]

24 minutes ago, denby45 said:

Where is the return on Gold?

 

Den

Gold is an asset......any crypto is nothing, it has no nett worth, it dosnt exist....thats the difference. 

[baansgr]

25 minutes ago, denby45 said:

I for one would like cryptos to put all the big banks out of business. I would be quite sane if it was not for banks. They have done my head in over the years and cost me a lot of money.

 

Den

And the millions of people that bought bitcoin on their credit cards or remortgaged back in December at almost $20,000 and have lost 66% of their "investment" while paying interest on the loan.....how do you think they feel....cryptos will all eventually collapse into oblivion and many more will loose

[Different]

If I invest in bitcoins then it gets stolen, then all the blame is going to be on me for being stupid.

[darren84310]

34 minutes ago, denby45 said:

I for one would like cryptos to put all the big banks out of business. I would be quite sane if it was not for banks. They have done my head in over the years and cost me a lot of money.

 

Den

The banks are buying heavily into crypto currencies...... they can see the potential.

[Acemaker]

3 hours ago, bert bloggs said:

no

Yes, and doing very well, i noticed that the Herd on here are saying No, mainly due to a lack of ambition , a lack of intelligence, and having a Sun Reader Bar Stool Mentality, choosing instead to believe everything they read on here or in the News, if you take your time and never invest more than you can afford to lose then you will be just fine, you need good experienced contacts, and to educate yourself on Crypto Currency, but then i guess a Bottle of Chang will always take priority over anything else with the majority on here.  ( Bring it On    ) 

[RichardColeman]

No way. Some Russian bot will steal it all one day

[hitext]

There are plenty of scams and risks, for sure. But it also seems certain that Blockchain technology is going to change the future of finance. So there is a lot of money to be made if you pick solid coins that solve a real problem and have good tech and good teams. 

 

If you take a Warren Buffet-style research-then-buy-and-hold 'value investing' approach (rather than randomly speculating), you could do very well in the long term. But if you do make money, keep the good news to yourself and make your security bomb-proof, or you could lose it all like this:

 

https://www.theverge.com/2018/4/17/17247628/bitcoin-cryptocurrency-hackers-youtube-theft-robbed

[baansgr]

1 hour ago, darren84310 said:

The banks are buying heavily into crypto currencies...... they can see the potential.

Which banks, many have already banned crypto transactions

[gaff]

4 hours ago, poanoi said:

no, hipster stuff goes out of fashion, by now is far to late to make money on

the late comers

 

Or maybe it's just the contrary...

 

 

[SatPrem]

Wow, I seldom see so many comments filled with ignorance and cluelessness - reminds me to the people who said several years ago " I would never ever invest in a company which tries to make money online like Google, Amazon, Facebook etc. - 

[rickudon]

You need to get in early and sell at a high ..... I just bought a new currency called 'Bubble' from a company called South Sea traders .... 

[baansgr]

16 minutes ago, SatPrem said:

Wow, I seldom see so many comments filled with ignorance and cluelessness - reminds me to the people who said several years ago " I would never ever invest in a company which tries to make money online like Google, Amazon, Facebook etc. - 

To loose almost 70% in 3 months on an "investment".....I would class the ones buying as being ignorant and clueless, The difference between your comparisons are they were actual companies, they were an asset...crytpos are not an asset and are of no nett worth

[baansgr]

17 minutes ago, rickudon said:

You need to get in early and sell at a high ..... I just bought a new currency called 'Bubble' from a company called South Sea traders .... 

Thats my sense of humour, unfortunately many will now google and try and research without realising 

[FreddieRoyle]

I am a believer in crypto, and have invested a good while back. It is my belief that crypto will one day replace fiat currencies. Fiat currencies are the real ponzi scheme or scam in that they are backed by nothing(no gold standard backing them up since decades)and they are printed willy nilly by central banks. I do not trust the fiat system. 

 

 BTC for example has a total limit of 21 million coins. The closer it gets to 21 million having been mined the difficulty increases, it seems to me it is a naturally inflationary coin, hence worth buying in the expectation that its value will continue to increase. This has certainly been the case since I bought, with a few wobbles along the way. Gold has a similar scarcity value but it will be mined for ever, and who knows there could be huge reserves discovered which could crash the price. Other than being pretty and an electrical conductor and a teeth facade for rappers what use is gold really?

 

 Downsides? Well I recently bought some more BTC at $6,800 with a new account before the price rise only to get an email 32 hours later from the exchange that they detected suspicious activity on my account so they reversed the transaction and refunded me, plus closed my account! This cost me good money and they never responded to emails. So, the ease of buying crypto needs to be worked on. Better regulation of exchanges would be a good thing too.