Trading in Bitcoins

Has anyone tried trading in Bitcoins or any other Crypto currency?

As I have recently retired and taken a lump sum, cash flow is not a problem to me, so I thought that I could gamble with the minimum stake which is £250.

I have contacted a couple of brokers but I'm not impressed so far, they all seem too pushy for my liking.

There is no such thing as a dead cert in this World.

I've looked at this option from time to time - wish I'd invested that amount when the whole game started would be bloody rich now - so personally worth a gamble - it ain't goin aways soon and big business in USA are investing in it too.  anything in life can be a gamble - if you don't wanna gamble at all then sure keep ya money?

...

I must admit to not knowing a thing about Bitcoins, and I think I will just stick to good old reliable British £.
Bitcoins don't sound too reliable and trustworthy to me.

Don't need any more money thankfully we're quite happy as we are

Purwell wrote:

Has anyone tried trading in Bitcoins or any other Crypto currency?

As I have recently retired and taken a lump sum, cash flow is not a problem to me, so I thought that I could gamble with the minimum stake which is £250.

I have contacted a couple of brokers but I'm not impressed so far, they all seem too pushy for my liking.

There is no such thing as a dead cert in this World.

I do not trade Bitcoin but I do trade XRP because I believe in it. It's a long story. So... I will post everything about XRP last for everyone to understand more.

£250 is spot on! £250 worth of a good crypto (worth it's salt) ought to double from there faster than any other existing asset!!

Purwell may I ask more about the kind of brokers that you have contacted? Here's the thing... Physical brokers were needed to be approached to buy and sell assets for you and offer advice in an era where people could not do it for themselves. An era before the internet boom. None of those brokers are willing to tell that part. Digital brokers were approached to buy and sell assets for you ever since then but their advice has become obsolete because you have the internet. Following celebrity traders on social medias like twitter is the new financial advice because they are just like YOU only they have an edge for speculating that particular asset they trade. None of these celebrities want to steer you in wrong direction in front of the world on social media and they certainly couldn't earn commissions for steering you in the wrong direction. Digital brokers can and do and none of those brokers are willing to tell that part neither. You simply sign up to digital markets and use the control panel to give them your orders. Some digital brokers are very cheeky. They prolong the misconception that their advice is still needed in this world so they can telephone customers to 'help' them. It could go either way but I would end the call the moment they make a suggestion about any asset. This is known as a strategy. The best strategy is to decline their help instantly.

Let's take the XRP thing from the very beginning...

Cryptocurrency (blockchain, alternative coin, altcoin, initial coin offering, digital coin offering, coin, token,) is an alien to the world of finance because the end result of each investment (like all existing assets) depends upon the coins property. There is thousands of them. I saw one called OMG (Oh My God) the other day and that is an example how silly some of these developers are. More on that later! There is one that started as a joke and it has since become such a legend that it formed a property. It's property has literally become popularity.

Bitcoin has an exciting property and a CO2 property. Exciting Proerty:Each coin was mined using a software until a certain number was mined and then the price went up since the first coin was mined. The more the price went up, the less of a single coin could be mined, the longer it took to reach the next certain numbers to be mined and the further the price went up. It's a cycle. A single Bitcoin is now worth a quality house boat. What happens when the last Bitcoin gets mined? It will become a very expensive digital stamp that loses value over a short time. It may fluctuate but the game is over. CO2 Property:Mining a cryptocurrency creates a lot more energy than a kettle, lightbulb and even a plasma television. The more money you make mining a cryptocurrency, the more money you will want to make mining a cryptocurrency. It is the devil and you do not have to be a saint to be concerned about the cryptocurrency CO2 property! Mining a cryptocurrency can be outlawed for this reason and you don't want to be stuck holding them.

Ripple has a technological property and a green property. Technological Property:Ripple created a cryptocurrency called XRP to be used as the fastest payment software in the world. It works a bit like paypal but it moves so fast that it is said to free up the trillions that is held in fiat waiting to be cleared as legit payments all over Terra. I choose to buy and sell XRP because banks want to use it as a ripple technology and that gives XRP the most important property yet. XRP has the property of innovation. Green Property:XRP is not mined by strangers but it can be sold by strangers. XRP is slowly released and sold to exchanges by Ripple and each and every single coin is tracked by Ripple and Ripple's partners such as Ledger of which is a wallet technology for downloading various cryptocurrencies so that you can put them under your pillow.

Some of you have no doubt heard that the U.S. Securities and Exchange Commission has disputed Ripple. Ripple moved it's headquarters from USA to the UK.

What is the crux of their argument saying it's not a currency but rather a security? Can not this argument by applied to all crypto or is it something unique in how xrp is used? I wonder if it's because their is a company to go after unlike others.

SEC spends the next decade trying to go after other crypto currencies, the same as throwing fuel on to fire...in the end they throw in the towel, after having burnt another few billion of the people's fiat on this failed project. Technology knows no borders, dudes. Up in the ivory tower they're frothing at the mouth because tech has taken the cake away from them, and they can't find a way to flank it. It will be volatile, but that's what crypto has always been. Watch XRP hang on, even surge. Any bets?
https://www.reddit.com/r/XRP/comments/kk5wc4/what_happens_if_sec_wins/

In my honest opinion... Spending one £250 on XRP once in a lifetime is worth it.

Please ask me right here on this thread if anyone has a question about a cryptocurrency. That is of course if it is all right with Purwell. I suggested here so we can keep it all together.

Dr. Neko. carry on adding to this thread.
I have decided that is is not for me because I do not understand any of it!

Purwell wrote:

Dr. Neko. carry on adding to this thread.
I have decided that is is not for me because I do not understand any of it!

Things get crazier Purwell. I will add a few links here and give a brief description about where they lead to and you can all go in when you have the time and read more. You certainly won't believe it.

What are Non-Fungible Tokens? (NFT)
An NFT is an advanced type of cryptocurrency with no static spot price because each token has a unique attribute. This attribute can be cheap and common or valuably rare. Each token can be valued by an expert and then sold. Even auctioned to the highest bidder.

Crypto Kitties
Crypto Kitties is a game where you collect cats with common attributes and breed them to create kittens with more rare attributes. The more rare the attribute is, the more valuable the kitten is. These cats are an NFT. They are digital cards like baseball cards and baseball cards can be used to battle others and win more. This is a point system that has been around for decades and Nintendo used it to bring us Pokemon. Online games have already started to accept cryptocurrencies for payments and now they are even the games too.

What can anyone make of all this so far?

sounds like teaching kids to gamble with money to me?

davo wrote:

sounds like teaching kids to gamble with money to me?

That's a very good point Davo and I can't think of a game that has even come anywhere close to it before. NTF trading games may be a direct road straight to gambling websites of which do already offer cryptocurrency rewards. NTF too maybe.

I must admit that I don't understand any of it...the 21st century internet has left me staring at it, sucking my thumb !

malcolm wrote:

I must admit that I don't understand any of it...the 21st century internet has left me staring at it, sucking my thumb !

It can't get anymore complicated.

You seem to be up early and late to bed....do you ever sleep ?

malcolm wrote:

You seem to be up early and late to bed....do you ever sleep ?

My hours our all over the place sometimes Malcolm. Sometimes I am in bed very early too.