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last low was around 16,000 was a buy went up around 21000 back down now due to another exchange getting taken over and markets panicking and weak hands ( bad gamblers) selling so the diamond hands (good gamblers) can still buy it up and sell when it goes higher, not financial advice and not for the faint hearted but you can buy and sell parts of bitcoin for as little as £20 its just like long term antepost betting, cash out for a profit if it rises or lose the lot if it falls
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Crypto and NFTs are Ponzi Schemes and a Scam. Used mainly by bad actors/ criminals, to go about their criminal activities without trace of payment. To defraud and hack the public into ransomware payments. Stay well away at any price is my advice.
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How does one know whether they are going to be weak hands or diamond hands gamblers in today's market?
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You can never justify a future market move because non of it has anything of substance.
You can only ever be the person putting up the money in blind gambles, and to be wise after the event. Whether the price rises or falls is based simply on the collective madness of others, and whether you got out before the thing collapsed. |
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IMO, the only people pushing Bitcoin now are the ones who have everything to lose. ie- they brought in early. Personally I hope it goes to zero in the near future.
mining company Marathon Digital Holdings will soon have most of the bitcoins. Glad to see they lost 19.45% of net value of the company in a week! Says it all really |
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can still buy it up and sell when it goes higher, not financial advice and not for the faint hearted but you can buy and sell parts of bitcoin for as little as £20 its just like long term antepost betting, cash out for a profit if it rises or lose the lot if it falls
In this financial climate where people can't even pay their electric and gas bills, this is quite a foolish thing to post. Millions of good people have lost everything to the great Crypto Ponzi Scheme. (I'm not talking about the millionaire billionaire traders who are mentally ill) Bitcoin gambling is not like horse racing gambling, because you have no direct knowledge of how the market will go (only got to look at the bitcoin graphs) |
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Here is an example of the advantage of horse racing prior knowledge of how market and horse will run. 13:07 Huntingdon yesterday Eel Pie Island Early morning price 2.8 At the off 24.00
Now, could Eel Pie Island have won that race yesterday? Absolutely, but highly unlikely IMO. Anyone who knows anything about horse racing would see that drift and realize 1:Trainer is out of form 2: Horse was waiting for a handicap mark. 3:The price dictates that someone knows something the rest of us don't (but we can clearly see it in the betting patterns and adjust perhaps) Eel Pie Island Always towards rear, jumped right at the 1st, struggling when jumped right 3 out, tailed off!!! That is just an example and many drifters do win, but the market graphs do mirror a horse's chance, yet it is not an exact science. When you get involved in Bitcoin, you're flying solo with little to no chance. Just my views, I'm sure many don't agree with me!  |
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A cryptocurrency exchange FTX dropped like a stone because Binance indicated it was selling its stake in FTX due to "rumoured" liquidity; $3bn withdrawals requested within days apparently by depositors.
Binance owner - a Chinese national (crypto exchanges/coins are almost entirely Chinese owned) negotiated with FTX and agreed a bailout to buy FTX (subject to due diligence). What a clever manoeuvre by this Chinese character? Publicly announced a divestment to get a competitor of the cheap. Cryptocurrencies are for the naive, greedy, foolish and incredibly savvy too. In Australia a major one owned by Chinese characters lost many $ms when the characters absconded back to China blaming one another for the theft eg a laptop with the necessary access info was stolen in China. Horseracing is dodgy, crypto is significantly more dodgy! |
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Don't touch it with a bargepole if you don't have Bitcoin. If you do have Bitcoin, sell it for £15,000 even if you bought it for £50,000. Its value could collapse very quickly.
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https://amycastor.com/2022/11/08/crypto-collapse-j-pierpont-moneygone-ftx-rekt-bought-by-binance/
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with your username why you asking us ?
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 Foyles he missed the middle bit!! |
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Oh oh
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Cryptocurrencies are at a very early stage in their lives. Far too risky for an educated investment at this stage imo. However just as when the dotcom bubble burst some will survive to be key to modern economies. It will interesting to look back in 10 years at their progress. If you have some spare bitcoin you could buy a virtual horse off AMO if you like!!!
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Be educated:
14,757.33GBP closing today -1,298.50 (8.09%) today -34,606.10 (70.10%) past year Rather than a very early stage, it is the case of missing the boat by about six years. |
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down to 14,800 so still falling and i suppose the gamble is when to buy as with stocks it can be manipulated to get the weak to sell so the accumulators get it for a bargain price before it rises again and the weak lose out, in this market just observing but im tempted at a low price as its the future of money, most banks are into crypto its only a matter of time before it gets mainstream just like everyone will use there phone to pay for things, you can see whats happening to money be worthless unless they get inflation down and the only way of that is increasing interest rates more like i said a year ago, we are well bankrupt the uk lets just print some more, be interesting to see where bitcoin goes in a few years and see who guessed right long term
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Blockchain technology will become widespread throughout all banking, on which crypto is based.
HSBC seem to be partnering with Quant (a coin I think will do well long term). It is all very risky and not for the faint hearted. I have put in £4k in various coins, huge market crash and a week ago was only worth £3.4k. Last 24 hours has gone from £3.2k to £2.6k! Though I am in for the long term with crypto dot com. Hoping they are a more stable exchange and their coin CRO. But this time Tomorrow it could be worth jack diddly squat. Fortunately,I have no FTX and I didn't have any or any Luna when that went from £75 a coin to £0.000003 a coin in 1 week. At these prices its worth a tickle, but again only risk what you are prepared to lose. But it's a crazy world! |
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im down, most are on crypto im into amp and will be one of the front runners in digital payments went up to 10 pence i bought lots anything from 1p to 4p and sold but bought back in, now 0.4p but with normal stocks and shares as well im into bitcoin normal shares, they are down, you only lose when you sell so long term i know im right, time will tell lol
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Rather than a very early stage, it is the case of missing the boat by about six years. -- I'm sure people said that about Amazon before the dotcom bubble burst!! The reality is these things will be around for decades/centuries to come and we are just in the infancy of them.
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Can anyone provide a plausible reason why any individual country/government would accept/allow an unregulated independent cryptocurrency as a medium of exchange? I cannot think of even one myself.
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all guesswork and speculation...its not even real.
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the whole existence of crypto is to have a stable currency for IT . exclusive of country and government . It trades like a gold standard and is a threat to any countries currency , hence its hard to use it . Its basis is solid .
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Rico knows,not a single bet proofed via photo of his screen,join here...........Socipaths.failed.com
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You need to do a proper analysis to see what its intrinsic value is Some sort of discounted cashflow valuation or perhaps look at its net asset value to see what its worth if it gets taken over.
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Bitcoin has no intrinsic value - it's no tangible asset and not backed anything nor major government except punters/holders (not investors) perception and hype.
Also, one's bitcoin and cryptos could be stolen by unscrupulous founders/associates and not compensated. I'll participate if a common crypto is regulated and guaranteed (if stolen) by major governments like gold is. But, as it's no way; too many crooks about in the sector. |
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Spot on, Bitcoin has no intrinsic value under even modern definitions as it is not backed by precious metals or issuing governments.
Bitcoin was a clever idea to make the designer originator very rich. Some early adopters made some money by getting in early, the rest of us missed out my not understanding how it worked. Back in the day a friend told me to stop using my spare PC capacity for Cancer Folding and try mining bitcoins as I could make some money. I didn't as I couldn't get my head around it. How he got his head around it god knows, but even so he sold most when they hit £100 each and the rest at £200 each because he thought he had made a killing. Never stops lamenting the decisions to sell when we meet for a beer. Seems to have made him very unhappy. This idea that some people would mine at the start and sell at the top i.e. circa £70000 per coin is the same stupidity that casino players think when for example they have turned £100 into £1000 and then the £1000 into nothing. Head in hands oh why didn't I stop at £1000? By the time the whole world is on the case it is too late. In this case about six years too late. Unlike stocks and shares where big investors can sort of mop up profit from smaller investors (and shares dividends), Bitcoin is a complete gamble for everybody concerned. Didn't Tesla Elon Musk lose about half a billion in less than a year? Still pales into insignificance compared to likely losses from the Twitter venture. |
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Someone I know has a son who was 15 when he started playing with crypto a few years ago because some of his mates were into it. By the time my friend found out what his son had been up to he'd got up to about 100 times his original bank - took me more than the first 10 years of my working life to earn that much. He's now back down to about 10 times his original bank. My friend told his son that if he'd listened to him he'd never have lost all that money. Of course if he'd listened to him from the start he'd have 10 times less than what he's got now
The days of traditional money having full intrinsic value are long gone. "Print" twice as much as there is in current circulation and halve the value. Handy little tool that, when your debt is in the trillions. Some form of crypto currency is going to become widely used I would guess but whether that is Bitcoin is the question |
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bitcoin similar to god..
never been scene but folks bee leeve.. #waolfs |
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A very wise investor & incredibly wealthy acquaintance once told me with regard to gold-"In extreme situations, If it's not in your hands, don't count on it being yours!" That makes Crypto crapto! Crypto exchanges can open & close as they like. Good luck in vetting your money out if it all hits the fan. I'd rather invest in tulips in the Netherlands.
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El Salvador currency is bitcoin ‘ Brazil will be next and many others will follow if it stays afloat , banks, governments don’t want it to prosper because it’s rocking the boat,
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Investor's, please explain what the ''intrinsic'' value is !! ?...
Gold, copper, rubber, cocoa... they have a value ! |
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El Salvador lost a lot of money on the whims of a guy who wants to be called Emperor
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a few more exchanges will fail by the looks of it after FTX filing for bankruptcy and just a warning the uk requires tight financial requirements, so only join a uk regulated approved exchange, FCA org uk although that dosent mean its 100% safe, im with gemini registration since 2020 a american subsidiary, and not a new one like a few of them, FTX was part of the gibraltar set up so not regulated by the FCA org in the uk which is a blessing
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FTX, was an exchange used to buy and sell digital tokens. What the feck was it doing to go bankrupt? Was this a Barings type behaviour where traders were gambling with customers money on behalf of themselves?
FTX 2nd largest player with 1.2m customers, scrambling to get their money out probably out of luck. |
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https://www.bbc.co.uk/news/business-63601213
Embattled cryptocurrency exchange FTX has filed for bankruptcy in the US, seeking court protection as it looks for a way to return money to users. Former boss Sam Bankman-Fried has also stepped down as chief executive, the company said. It is a massive turn of fortunes for the 30-year-old, who had headed the world's second largest crypto exchange. In just over a week, his FTX empire has collapsed, shaking confidence in the already troubled crypto market. "I'm really sorry, again, that we ended up here. Hopefully things can find a way to recover," Mr Bankman-Fried, nicknamed the 'King of Crypto', wrote on Twitter on Friday. "I was shocked to see things unravel the way they did." The BBC is not responsible for the content of external sites.View original tweet on Twitter Prior to the meltdown, Mr Bankman-Fried had been one of the stars of the crypto scene, drawing comparisons to investment magnate Warren Buffett, with a net worth estimated at more than $15bn (£12.8bn) as recently as Monday. But rumours earlier this week that FTX and other firms owned by Mr Bankman-Fried were on shaky financial ground prompted a mass of customers to try to withdraw funds from FTX, an exchange used to buy and sell digital tokens. Facing a cash crunch, Mr Bankman-Fried tried to organize a bailout but that failed, leaving FTX scrambling to raise billions of dollars and many customers unable to access their money. Crypto market rocked by near-collapse of exchange 'I'm waiting to get £2,000 back from crypto giant' By filing for Chapter 11 bankruptcy, the company can continue operating, while restructuring its debts under court supervision. FTX said the goal was to "begin an orderly process to review and monetize assets for the benefit of all global stakeholders". The proceeding will involve FTX as well as Alameda Research, a trading firm founded by Mr Bankman-Fried, and roughly 130 affiliates, according to the statement FTX shared on Twitter. Those include FTX's operations in the US, which Mr Bankman-Fried had said on Thursday were unaffected. "The FTX Group has valuable assets that can only be effectively administered in an organised, joint process," said new chief executive John J Ray III, a lawyer who previously worked at a venture capital firm and has experience with bankruptcy. Mr Bankman-Fried said "this doesn't necessarily have to mean the end for the companies or their ability to provide value and funds to their customers chiefly, and can be consistent with other routes. "Ultimately I'm optimistic that Mr. Ray and others can help provide whatever is best". For now, Thomas Culham, from Kingston, said he has been unable to withdraw the £2,000 he had invested in FTX - a "big blow" as his funds in FTX were "decent chunk" of his investment portfolio. Thomas CulhamImage source, Thomas Culham Image caption, Thomas Culham had £2,000 invested in FTX "It's probably gone," the 22-year-old said. "Maybe in a few years' time I might get some sort of recovery - they do have assets [and] they should be able to liquidate them." Pressure on other firms Mr Bankman-Fried had enjoyed a high-profile in the crypto industry and beyond, frequently speaking on behalf of the sector before regulators. He was a major donor to Democrats in the most recent US elections and had gone on an advertising blitz in the country, enlisting celebrities such as Tom Brady and Gisele Bundchen to convince the public that crypto was a worthy investment. The troubles at his firms have hurt the rest of the crypto market, with currencies such as Bitcoin dropping 20% this week and raised pressure on other companies to prove they have the financial strength to stay afloat. Several companies in the sector had already collapsed or approached collapse earlier this year, after a sharp downturn in the value of digital assets. "FTX going down is not good for anyone in the industry. Do not view it as a win for us. User confidence is severely shaken," wrote Changpeng Zhao, the chief executive of FTX's larger rival, Binance, which had said it might buy FTX this week only to walk away. Regulators have long warned of risks to crypto investors and raised concern about the threat of wider financial turmoil, as traditional financial companies expand their investments in the market, despite little regulation. But Dan Ives, analyst at Wedbush Securities, said he thought FTX's troubles would not spark wider problems. "It's a black swan event. There's really no bleed over into the overall market, there's containment," he said. "That's extremely important and another positive signal in terms of the walls between systematic risk and not." Mr Bankman-Fried admitted that the downfall is "on me" but that will be scant consolation to the potentially 1.2 million FTX customers who could now lose their crypto savings. Despite potentially losing his money, Mr Culham said this week's events wouldn't put him off investing in more cryptocurrencies in the future. "I think there's a lot of opportunity," he said, adding that he was not investing more than he could afford to lose, and also not investing in only one type of crypto. Additional reporting by Michael Race. |
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@storm alert
"FTX, was an exchange used to buy and sell digital tokens. What the feck was it doing to go bankrupt" Not exactly - it promised a floor price of $22 (as I recall) on the price of its tokens (not unknown, other cryptos are guaranteed) and then let an associated company use that guarantee to borrow (oops). As someone who spent his early working life in the City, this is really not a space for amateurs to play around - by all means do the equivalent of putting £50 EW on the outsider in the GN, but do not imagine for a heartbeat this is an "investment" |
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Biggest ponzie scheme in history now in its death throes. Gamble by all means but it is a worthless asset in the last analysis.
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Please if anyone on this thread reading this, or you know anyone who wants to invest in Crypto please STOP them now. DO NOT invest in crypto, do NOT deal with crypto, do NOT buy NFTs.
It's starting to look like the whole thing was a Ponzi Scheme from day 1. People got in early made money, people get in late LOSE money. https://www.bbc.co.uk/news/business-63601213 FTX have your money, ITS GONE, you will never get it back. |
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Bitcoin is the fifth-worst collapse of an asset in financial history. FACT
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I put £50 in Wealthify 5 months ago, it's now worth £49.63
 Should I leave it in? |