Crypto Crash

tunstallhill said:
I see It more as gambling. I wouldn't put anything in I couldn't afford to lose
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Good, because they can still lose even more.

Ask your this one honest question about any potential investment: do you understand it? As in why it is valuable and how it generates returns? If not, don't buy it.
 
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The Albanian said:
Luna was the 4th biggest coin very recently.

If you invested £100 a few weeks ago, that investment would be worth less than 1 penny today.

Tanked so hard it’s being delisted :lol:
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Most people I work with had in invested in that, couple of which has £100ks in it, one supposedly had over a million. f***ing mental like. House of cards.
 
Tommasi said:
Most people I work with had in invested in that, couple of which has £100ks in it, one supposedly had over a million. f***ing mental like. House of cards.
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And this is why the bubble went so large.
CraigyLee said:
So what actually happened
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Computer trading algorithms wiped out a bunch of people who invested in assets with no value, hoping for an infinite bubble. Probably some major trading firms with crypto positions sold those to cover losses in stock markets. There wasn't anyone to support the price and once the ball got rolling it turned into a panic.
 
CraigyLee said:
So what actually happened
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The people who have lost the shirts off their backs will tell you it's happening on the stock market too and to buy the dip!

But the sensible analysts will tell you it's always been a gamble the markets been flooded and eventually those at the top get out when the going is good and those still that can follow leaving mugs to suffer

Don't worry though it's all on recorded on a block chain
 
Horace Cope said:
The people who have lost the shirts off their backs will tell you it's happening on the stock market too and to buy the dip!

But the sensible analysts will tell you it's always been a gamble the markets been flooded and eventually those at the top get out when the going is good and those still that can follow leaving mugs to suffer

Don't worry though it's all on recorded on a block chain
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If I was an investor I'd wait and see for a bit, jumping in feet first could leave you with a couple of broken ankles and crying into your Coco pops.
 
Horace Cope said:
The people who have lost the shirts off their backs will tell you it's happening on the stock market too and to buy the dip!

But the sensible analysts will tell you it's always been a gamble the markets been flooded and eventually those at the top get out when the going is good and those still that can follow leaving mugs to suffer

Don't worry though it's all on recorded on a block chain
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The stock markets are insanely overvalued as well. Anything with connections to the US exchanges in particular, just because of how retirement savings works in the US. The natural result of that system is repeated enormous stock bubbles every 10-15 years.
 
BigPete said:
Speaking with pal his mate got a remortgage..

Put the funds in November time as well..
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I know 3 lads who were big into the Football Index.

2 lost all their profit (£60k and £25k) but got their initial investments out. The other lad missed the boat and lost it all (£40k).

www.bbc.co.uk

Football Index collapse: 'I lost £4,000 in seven days'

Users of the betting company say they have lost thousands of pounds after the operation was suspended.
www.bbc.co.uk
 
Bitcoin is the only decentralised crypto currency, the only one doing any cryptography to secure itself (95% of all the hash rate of all coins) It's the perfect money and will become what the gold standard was. Everything else is a scam and should be classed as a unregistered security. I'm glad the rest are getting wiped out. This will only make Bitcoin stronger.
 
SYB_DC said:
Good, because they can still lose even more.

Ask your this one honest question about any potential investment: do you understand it? As in why it is valuable and how it generates returns? If not, don't buy it.
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This is why I never put any money in. Everyone around me was investing heavily, for the older ones it was their pension pot, the younger ones a way to buy a house. I could never get passed in my head that it was a load of made up bollocks. Thankfully I think a fair few had got their initial investment out and were just playing with what was left. I imagine it won't feel any better though.
 
Kob82 said:
Bitcoin is the only decentralised crypto currency, the only one doing any cryptography to secure itself (95% of all the hash rate of all coins) It's the perfect money and will become what the gold standard was. Everything else is a scam and should be classed as a unregistered security. I'm glad the rest are getting wiped out. This will only make Bitcoin stronger.
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Agree with this. I've got some ether too but I'm more skewed to bitcoin than I am ether in terms of how much I've got in.
 

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