Anyone invest in Cryptocurrency?

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Broxi

The Anti-Bully
Jul 24, 2012
12,725
12,723
What's the best trading app for iPhone if you're in the UK?

I take it this Robinhood app isn't on the UK app store because it doesn't show in search.

I think I'll get back in to trading with an aim to put small amounts over time in loooong hold companies which I genuinely like.
 
Jun 23, 2017
1,928
2,357
32
What's the best trading app for iPhone if you're in the UK?

I take it this Robinhood app isn't on the UK app store because it doesn't show in search.

I think I'll get back in to trading with an aim to put small amounts over time in loooong hold companies which I genuinely like.
For stock picking I use IG, although I’ve heard interactive brokers is good too.

For fund picking I use Hargreaves.

imo, retail investors have gotten far, far too hung up on stock picking thanks to access via Robinhood making trading more accessible, and a decade long bull market allowing everyone to make money. If you’re going to buy and hold, I would really recommend just picking a few well managed mutual funds and dripping money into them over time.

I feel as though retail stock picking has gotten way ahead of itself. You hear about the massive wins, but the vast, vast majority would be better over the long term by just dropping money into an etf or mutual fund.
 
Reactions: Broxi

Broxi

The Anti-Bully
Jul 24, 2012
12,725
12,723
For stock picking I use IG, although I’ve heard interactive brokers is good too.

For fund picking I use Hargreaves.

imo, retail investors have gotten far, far too hung up on stock picking thanks to access via Robinhood making trading more accessible, and a decade long bull market allowing everyone to make money. If you’re going to buy and hold, I would really recommend just picking a few well managed mutual funds and dripping money into them over time.

I feel as though retail stock picking has gotten way ahead of itself. You hear about the massive wins, but the vast, vast majority would be better over the long term by just dropping money into an etf or mutual fund.
I completely agree.

One thing I've noticed is that the stock trading platforms and this weird Forex cult has been targeting the young generation of early 20 somethings, promising them huge riches without doing any real work. It's catnip to these kids and with the bull run having gone on for some time, most of them have no clue what it's like to be caught in a bear market and just watch your savings disappear rapidly. Gamer kids talking about their portfolios and cryptos.

I fear the worst for them. I have a golden rule which isn't based on much, that if something suddenly comes to my attention through a hype train. It's already too late to jump onboard... that goes for BTC too. The trend is that BTC starts on a rise, the news of this gains momentum which has people chattering about it on the internet and people outside of the loop start to hear. They jump onboard but by that point most of the increases are priced in, the original investors who have made good start taking profit and it falls down the other side trapping newcomers. I stay away from that scenario.

My intention here is to invest in companies which I think are genuinely great companies with solid futures who will grow over the years.

This is one of them...
NYSE: U

19405

I had never heard of them till I got into VR then realised that EVERYONE developing for those platforms are using Unity to do it, the Quest has exploded the VR market and the demand will increase year on year. The stock price is trending down so I'll probably track this for a couple months till I hopefully get to between $50-100 per share and then buy and hold for a few years.

I'll add more to my portfolio as time goes on and I decide on companies I think have good futures. No penny stocks, day-trading or trying to catch pumps or spikes. Get myself some cryptos too.
 
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Reactions: Clarence Worley

Broxi

The Anti-Bully
Jul 24, 2012
12,725
12,723
Is it worth investing £500 in bitcoin? Been thinking about it. Is 500 a good amount or too much/too little?
I think so, the more I've learned about Bitcoin the more I see it as a great long term hold... buy £500 and keep it for the next 5 years and you could be sitting on a nice little nest-egg.
 
Reactions: It's Too Big

Broxi

The Anti-Bully
Jul 24, 2012
12,725
12,723
Did anyone see this.


Watch Beeple react to his crypto art selling for $69 million, making him the 3rd-most-valuable living artist: 'I'm going to Disney World!'

Mike Winkelmann, the digital artist known as Beeple, gathered with family in his living room to watch as dozens of bidders took part in the auction for his crypto art on Thursday.

The auction closed with a bid of over $69 million, making him the third-most-valuable living artist.

He jumped off the couch and said, "I'm going to Disney World!"

In the final 30 minutes, the price for his unique digital art jumped from $15 million to $69 million. Justin Sun, the founder of Tron, was outbid at the last minute, a representative for Sun told Insider.

As he watched the last moments, Beeple said, "I think it probably means digital art is here to stay."

The transaction was the historic auction house Christie's first sale of an NFT, or nonfungible token, a digital asset that operates as a type of collector's item and can't be duplicated.

Beeple's piece, titled "Everydays: The First 5000 Days," was the highest-valued crypto-art sale. The second highest was another Beeple piece that sold for $6.6 million in February.



Beeple has previously said he hasn't valued his art at more than $1,000. But now his pieces are leading the crypto-art boom as digital tokens gain popularity during the pandemic.
 
Reactions: DobyZhee
Jun 28, 2013
4,154
2,225
UK
I think so, the more I've learned about Bitcoin the more I see it as a great long term hold... buy £500 and keep it for the next 5 years and you could be sitting on a nice little nest-egg.
Cheers. I might put a little into investing in bitcoin then. I don't mind putting in a few hundred quid for the time being, see what happens and then decide if I want to invest more down the line.
 
Sep 30, 2013
21
16
I've avoided learning about bitcoin with the thought that it takes power away from world governments and so will probably not replace historic forms of currency. It seems like there are limited places to actually spend the bitcoin and the last 10+ years has been a waiting game watching the value rise and fall interminably.

The value seems to not be anchored to anything so unless it had widespread adoption it will continue to be too volatile. It seems like people only buy it because they think the price could go up and they could earn some actual money. Hardly anyone seems to consider engaging in actual financial transactions with it.

I can't explain why Tesla bought some bitcoin...maybe an investment, maybe a branding move, definitely to try to get others to follow suit and drive up the price. So bitcoin is inflation-proof and banks are printing money right now? Ok but most rich people and politicians don't own bitcoin and they still want their money to have value. First world countries can probably avoid the perils of inflation because, well, they are powerful, their friends are powerful, they have economic ties to other powerful countries, and they all want to remain powerful and wealthy.

Bitcoin still seems to be seen as a way to possibly make actual money but that nobody takes seriously as a replacement to traditional currency. Hmm, maybe I should buy some too!
 

Commando

The OG Lounge Rapist
Jul 29, 2012
1,003
154
TORONTO
Dogecoin baby...i only have 4,000 coins bought it at an average price of .075. Spent about $380 canadian...right now my coins are worth $1500. Wish i had more money to put into it but whatever i’m happy with my 4k coins.