Digital assets / crypto
- Thread starter Stadan20
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Got a few £k in Monopoly money.
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It could be a good time to have a punt. I had sa bit years ago, lost them because the exchange was a scammer, bought some more and did well, but sold when they'd gone up and flattened out.
Why? People buy them because they can. You can't eat them or make houses with them, their worth is what you can sell them for. But that's not far from some of the "manta" stocks right now, their price is almost unrelated to their earnings, it's so high.
It's a thing, to gamble on.
Bitcoin/USD exchange rate went crazy earlier in the year though it's calmed down now. is sitting on the bottom of a resistance level right now, at about $30k, so when people have made up their minds it'll move quickly up or down. The last move was down.
The price move in the year to date has been positive, institutions have moved towards accepting that BC futures have to be part of their portfolio.
To date, we've bought BC through more or less dodgy dealers. A lot of it is indirect in some way.
The elephant in the room is now BlackRock. Blackrock is worth trillions. A month or so ago, BlackRock filed for SEC (Securities and Exchange Commission - the US watchdog) approval of a so-called spot Bitcoin ETF ( Electronically Traded Fund.)
Now, previous bitcoin exchanges have been prosecuted to stealing owner's funds/market manipulation. Not a great start. There is still lacking, a really concrete model for a “surveillance-sharing agreement” in sufficient detail. That agreement would help control fraud and manipulation by setting up a mechanism for keeping track of trading, clearing activity and customer identity.
Blackrock of course say they have all that covered, and there's a bunch of other heavyweights - Fidelity, etc etc - , queueing up to get similar "instruments" approved by the SEC.
They wouldn't trade IN the crypto currency directly, but in effect something closely related to it. BlackRock or whoever would make plenty in fees, custodial charges, yada yada...
SO you might find your easiest way to invest is to buy the proposed BlackRock Fund. Theoretically a company that size shouldn't give you problems of iliquidity which can plague successful speculative deals.
OTOH, the enthusiasm that comes with respectability of a big name could push the price of BC to, god knows, a million bucks. 90% of skiploads is still skiploads, after the fees.
When the recession comes, I expect the BC price would bounce around if it's sudden - you could do well if you watched it.
But you might lose most of your money in a hurry if things don't turn out. It would very possibly happen overnight, you wouldn't see it coming.
Why? People buy them because they can. You can't eat them or make houses with them, their worth is what you can sell them for. But that's not far from some of the "manta" stocks right now, their price is almost unrelated to their earnings, it's so high.
It's a thing, to gamble on.
Bitcoin/USD exchange rate went crazy earlier in the year though it's calmed down now. is sitting on the bottom of a resistance level right now, at about $30k, so when people have made up their minds it'll move quickly up or down. The last move was down.
The price move in the year to date has been positive, institutions have moved towards accepting that BC futures have to be part of their portfolio.
To date, we've bought BC through more or less dodgy dealers. A lot of it is indirect in some way.
The elephant in the room is now BlackRock. Blackrock is worth trillions. A month or so ago, BlackRock filed for SEC (Securities and Exchange Commission - the US watchdog) approval of a so-called spot Bitcoin ETF ( Electronically Traded Fund.)
Now, previous bitcoin exchanges have been prosecuted to stealing owner's funds/market manipulation. Not a great start. There is still lacking, a really concrete model for a “surveillance-sharing agreement” in sufficient detail. That agreement would help control fraud and manipulation by setting up a mechanism for keeping track of trading, clearing activity and customer identity.
Blackrock of course say they have all that covered, and there's a bunch of other heavyweights - Fidelity, etc etc - , queueing up to get similar "instruments" approved by the SEC.
They wouldn't trade IN the crypto currency directly, but in effect something closely related to it. BlackRock or whoever would make plenty in fees, custodial charges, yada yada...
SO you might find your easiest way to invest is to buy the proposed BlackRock Fund. Theoretically a company that size shouldn't give you problems of iliquidity which can plague successful speculative deals.
OTOH, the enthusiasm that comes with respectability of a big name could push the price of BC to, god knows, a million bucks. 90% of skiploads is still skiploads, after the fees.
When the recession comes, I expect the BC price would bounce around if it's sudden - you could do well if you watched it.
But you might lose most of your money in a hurry if things don't turn out. It would very possibly happen overnight, you wouldn't see it coming.
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I'm surprised vanguard has not applied for an etf yet . I'm sure they will in time. I'm holding mainly xrp coins, purely on the technology and the speculation that they will win their case against the sec . In the way the monetary system seems to be going it certainly is a good punt to get in . I personally believe that once regulations come into play there will be far less "coins" out there . Banks / countries were all against crypto, now it seems the tide is turning ....
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