World of crypto

[NottsRam77]

10 hours ago, G STAR RAM said:

Inflation is currently around 2.3% compared to the 4.95% on a savings account?

See my comment a couple of posts below 

theres a fundamental difference between “measured” inflation and actual inflation.

a manipulated basket of goods vs actual realtime rising costs like car insurance, water rates, council tax, telecomunications all risen in the last year 5x ahead of the supposed current 2 point Whatever “measured” inflation rate

what they spin u and what actually happens …. Two very different things. 
it amazes me people (not getting at u at all) are so blind to it

i mean.. we all get the same bills right? 🤷‍♂️

Edited June 16 by NottsRam77

[G STAR RAM]

13 minutes ago, NottsRam77 said:

See my comment a couple of posts below 

theres a fundamental difference between “measured” inflation and actual inflation.

a manipulated basket of goods vs actual realtime rising costs like car insurance, water rates, council tax, telecomunications all risen in the last year 5x ahead of the supposed current 2 point Whatever “measured” inflation rate

what they spin u and what actually happens …. Two very different things. 
it amazes me people (not getting at u at all) are so blind to it

i mean.. we all get the same bills right? 🤷‍♂️

Yes, I assume we all get payrises too?

[NottsRam77]

24 minutes ago, G STAR RAM said:

Yes, I assume we all get payrises too?

But not in line with inflation.

my mrs is a teacher and sister a nurse

so am well aware of this 

my car renewal quote went from 297 to 498 …

my expected fuel bill sits at circa 1500 from 1100 per annum.

council tax 205 to 221 per month (whats that 7 ish percent) 

Actual inflation vs measured inflation 

Edited June 16 by NottsRam77

[G STAR RAM]

6 minutes ago, NottsRam77 said:

But not in line with inflation.

my mrs is a teacher and sister a nurse

so am well aware of this 

my car renewal quote went from 297 to 498 …

my expected fuel bill sits at circa 1500 from 1100 per annum.

council tax 205 to 221 per month (whats that 7 ish percent) 

Actual inflation vs measured inflation 

You do realise that the figures released are an average? So taking your own situation and applying it to the whole country probably doesn't work?

[NottsRam77]

1 hour ago, G STAR RAM said:

You do realise that the figures released are an average? So taking your own situation and applying it to the whole country probably doesn't work?

Obviously they're my own figures, its my experience of inflation

but are u telling me your car insurance , fuel, telecomunications and council tax etc havent gone up by more than 2% in the last year ? … or the year before that ? 
everyones figures will be different but i can wager theyll be an obvious trend

so if ur saying that the ‘measured’ inflation is an average of consumer products can u tell me what has actually come down so exponentially do average us down to to 2% if all the obvious stuff has gone up so much 

not arguing with u , just genuinely dont see how its not anything but total spin from the powers that be 

Edited June 16 by NottsRam77

[Comrade 86]

41 minutes ago, NottsRam77 said:

Obviously they're my own figures, its my experience of inflation

but are u telling me your car insurance , fuel, telecomunications and council tax etc havent gone up by more than 2% in the last year ? … or the year before that ? 
everyones figures will be different but i can wager theyll be an obvious trend

so if ur saying that the ‘measured’ inflation is an average of consumer products can u tell me what has actually come down so exponentially do average us down to to 2% if all the obvious stuff has gone up so much 

not arguing with u , just genuinely dont see how its not anything but total spin from the powers that be 

In other news, I've just dumped my entire holding @ £52k and change. I 'd explain why, but you wouldn't listen to a word of it so instead I'll just wish you all the best.

 

[NottsRam77]

16 minutes ago, Comrade 86 said:

In other news, I've just dumped my entire holding @ £52k and change. I 'd explain why, but you wouldn't listen to a word of it so instead I'll just wish you all the best.

 

I actually would 

but cest la vie 

all the best 

[Day]

If the FCA are reading, I am not a financial advisor, this is just my own personal view.

Never listen to people on the internet what to do with your money, especially through social media/YouTube.

Too many shills and influencers out there with only one interest in mind, their own. Ask yourselves why someone on X would want to make you rich, why this attractive woman on Instagram in lingerie is promoting a Crypto coin.

Investing your hard earned money correctly is one of the biggest challenges we all face, do your own research then if it fails or returns you a lot of money, that is on you.

[NottsRam77]

11 minutes ago, Day said:

If the FCA are reading, I am not a financial advisor, this is just my own personal view.

Never listen to people on the internet what to do with your money, especially through social media/YouTube.

Too many shills and influencers out there with only one interest in mind, their own. Ask yourselves why someone on X would want to make you rich, why this attractive woman on Instagram in lingerie is promoting a Crypto coin.

Investing your hard earned money correctly is one of the biggest challenges we all face, do your own research then if it fails or returns you a lot of money, that is on you.

Obviously .. as i have stated previously DYOR .. always No matter what ur spending / investing your money in

im merely interested in protecting my savings and theyre value  and spending power and find the who subject interesting when dive into our financial system and how it works.. or doesnt as o believe the case to be 

[Day]

20 minutes ago, NottsRam77 said:

Obviously .. as i have stated previously DYOR .. always No matter what ur spending / investing your money in

im merely interested in protecting my savings and theyre value  and spending power and find the who subject interesting when dive into our financial system and how it works.. or doesnt as o believe the case to be 

Even DYOR for example is an acronym some new to investing may not even know, that’s where some of the dangers lie, not truly understanding what people are actually telling you. 

[Returning ram]

If you listen to someone on a football internet forum on where to invest your money and it goes wrong then you only have yourself to blame im afraid.

I have a friend who invested in bitcoin in its early days, started trading in different Cryptos, they need to remove it now and have made seven figures from it, had they remained in their original investment, would have been 9 figures. They have struggled to get the bank to take the money, has taken months and has been a real problem for them. 
 

They have retired now, no need to work again, however they aren't going to reinvest that money back into Crypto, because as they say, that is their nest egg and they can't continue to gamble with it. Me, I'll stick to premium bonds, won 800 over past two months, may not win another penny for rest of year but I know my money is safe with a chance of winning something.

[NottsRam77]

1 hour ago, Returning ram said:

If you listen to someone on a football internet forum on where to invest your money and it goes wrong then you only have yourself to blame im afraid.

I have a friend who invested in bitcoin in its early days, started trading in different Cryptos, they need to remove it now and have made seven figures from it, had they remained in their original investment, would have been 9 figures. They have struggled to get the bank to take the money, has taken months and has been a real problem for them. 
 

They have retired now, no need to work again, however they aren't going to reinvest that money back into Crypto, because as they say, that is their nest egg and they can't continue to gamble with it. Me, I'll stick to premium bonds, won 800 over past two months, may not win another penny for rest of year but I know my money is safe with a chance of winning something.

Everyones different 

as i said DYOR and whatever works for you then go with. We all have different outlooks and risk tolerances and shouldnt deviate from our beliefs

i deem holding money in bank a risk as i know it will lose value against real inflation. Im not saying im Right its just what i believe. 
prem bonds, stocks and shares , property etc etc can all work for people and gives them the security they are happy with.  
 

imo diversity is also key 

Edited June 16 by NottsRam77

[NottsRam77]

5 hours ago, Day said:

Even DYOR for example is an acronym some new to investing may not even know, that’s where some of the dangers lie, not truly understanding what people are actually telling you. 

Agree , but if ur putting hard earned money into anything … literally anything bitcoin, stocks, property a purchase off amazon any sane person does a bit of digging first. 
 

I mean if ur new to investing, you would do some research first before aping in… DYOR is just a jazzy way of spelling out the obvious and what any sane person would do anyhow 

 

 

 

[NottsRam77]

4 hours ago, Returning ram said:

If you listen to someone on a football internet forum on where to invest your money and it goes wrong then you only have yourself to blame im afraid.

I have a friend who invested in bitcoin in its early days, started trading in different Cryptos, they need to remove it now and have made seven figures from it, had they remained in their original investment, would have been 9 figures. They have struggled to get the bank to take the money, has taken months and has been a real problem for them. 
 

They have retired now, no need to work again, however they aren't going to reinvest that money back into Crypto, because as they say, that is their nest egg and they can't continue to gamble with it. Me, I'll stick to premium bonds, won 800 over past two months, may not win another penny for rest of year but I know my money is safe with a chance of winning something.

Im not good enough, confident enough or believe enough in different cryptos (altcoins i assume) that is gambling in my eyes as altcoins are the wild west for reasons i have discussed. 

theyre a totally different being to bitcoin.

but well done ur buddy, fair play to him but its not a strategy i could go with or would suggest to people .. cos its hard, really hard and risky

Edited June 16 by NottsRam77

[G STAR RAM]

9 hours ago, NottsRam77 said:

Obviously they're my own figures, its my experience of inflation

but are u telling me your car insurance , fuel, telecomunications and council tax etc havent gone up by more than 2% in the last year ? … or the year before that ? 
everyones figures will be different but i can wager theyll be an obvious trend

so if ur saying that the ‘measured’ inflation is an average of consumer products can u tell me what has actually come down so exponentially do average us down to to 2% if all the obvious stuff has gone up so much 

not arguing with u , just genuinely dont see how its not anything but total spin from the powers that be 

Your experience of inflation isn't how measuring inflation works though I'm afraid.

My experience of Bitcoin is that it's earned me nothing over the last year but my bank account has earned me interest at a higher rate than inflation. 

Does that mean that having money in a bank is better than having Bitcoin?

Obviously that's a rhetorical question.

[NottsRam77]

11 hours ago, G STAR RAM said:

Your experience of inflation isn't how measuring inflation works though I'm afraid.

My experience of Bitcoin is that it's earned me nothing over the last year but my bank account has earned me interest at a higher rate than inflation. 

Does that mean that having money in a bank is better than having Bitcoin?

Obviously that's a rhetorical question.

I measure inflation on how it effects me.. how my bills have gone up, how my food costs have gone up, how going out for a beer or aa meal has gone up, how much my wrap around child care has gone up. Etc etc .. none of those have gone up by just 2% as i said in most cases its about 5x that. 
 

if ur bitcoin hasnt gone up in the last year then i suggest u must have bought quite recently and in which case arnt investing your gambling…. And hoping for a quick buck (see chart) not a pop just an observation.

I bought in the last year too and that investment has nearly 3xd. 🤷‍♂️

I also topped up some at 65k… so that hasnt gone up yet either, but i believe in the long term process and all the pap iv spouted previously that im sure u dont want to hear me go through again😂🙈

 

Edited June 17 by NottsRam77

[G STAR RAM]

1 hour ago, NottsRam77 said:

I measure inflation on how it effects me.. how my bills have gone up, how my food costs have gone up, how going out for a beer or aa meal has gone up, how much my wrap around child care has gone up. Etc etc .. none of those have gone up by just 2% as i said in most cases its about 5x that. 
 

if ur bitcoin hasnt gone up in the last year then i suggest u must have bought quite recently and in which case arnt investing your gambling…. And hoping for a quick buck (see chart) not a pop just an observation.

I bought in the last year too and that investment has nearly 3xd. 🤷‍♂️

I also topped up some at 65k… so that hasnt gone up yet either, but i believe in the long term process and all the pap iv spouted previously that im sure u dont want to hear me go through again😂🙈

 

As I previously pointed out, that isn't how measuring inflation works.

You've also completely overlooked wage inflation. 

 

[GboroRam]

I think the reality is, bitcoin looks like a great investment at the moment. It is volatile, but consistently has gone up more than it has gone down. 

But I just can't see what the driving force is. Why does it go up? If it started falling, and a panic began, it could crash very easily. Would it recover? Maybe, maybe not. 

Intrinsically it is as worthless as a piece of paper. But in the same way a ten pound note intrinsically is worth the same as a piece of paper - however this piece of paper is backed by global banks, by governments etc. 

If the pound slumps against the dollar, my pound is still worth a pound. That's an intrinsic thing relating to our currency. 

If bitcoin falls in value it's still worth a bitcoin, but that's nothing of intrinsic value. It only has value when you exchange it for something you can use. 

The current landscape looks bright if you hold any sizable amount of bitcoin. However I just don't have confidence it won't go the way of the dotcom bubble, another surefire way to make money that took off like bitcoin has. A lot of people lost a lot of money. 

If you bought bitcoin in the founding years, congratulations, you're probably a multi millionaire. If you didn't, the best you can hope for is to make good returns, but it is high risk. Personally, it's too risky for me. 

[Stive Pesley]

As a general rule, I find that it's good to be sceptical when faced with absolutists

Those who believe BTC is the future of currency and will always hold it's value

Those who believe Elon Musk will build a human colony on Mars

Those who believe that they will ascend to heaven when the rapture happens

Those who believe there are only two genders

Those who believe that abortion is a sin

Those who believe the earth is flat

Those who believe that climate change is a myth

Those who believe it's OK to support Nottingham Forest 

NB most of these are banned topics so please nobody attempt to start an argument about them - I'm merely giving examples where it's a red flag for me personally if someone holds absolute belief in that topic and simply will not countenance the idea that they might be wrong

 

[Reggie Greenwood]

1 minute ago, Stive Pesley said:

As a general rule, I find that it's good to be sceptical when faced with absolutists

Those who believe BTC is the future of currency and will always hold it's value

Those who believe Elon Musk will build a human colony on Mars

Those who believe that they will ascend to heaven when the rapture happens

Those who believe there are only two genders

Those who believe that abortion is a sin

Those who believe the earth is flat

Those who believe that climate change is a myth

Those who believe it's OK to support Nottingham Forest 

NB most of these are banned topics so please nobody attempt to start an argument about them - I'm merely giving examples where it's a red flag for me personally if someone holds absolute belief in that topic and simply will not countenance the idea that they might be wrong

 

Remember it’s “Notts Forest” to be accurate.