Cyprus-Forum.com

[Maximus]

Its just coincidence. Bitcoin is not correlated to any other asset.

Its not a safe haven or a store of wealth either.

it will end up closer to where it started as opposed to closer to 20K.

Play with amounts you can afford to lose but dont bank on shitcoin.

[erolz66]

I have only ever played with money I could afford to lose. No borrowing to buy coins. No margin trading of coins. I am prepared to see all I have put it go to zero and should such happen it will be unpleasant but will not risk my house or anything like that.

[Maximus]

fair enough, good luck..

[Kikapu]

I must confess, I do not fully understand the workings of crypto currency and nor do I want to invest time to learn it. It may well be a generational thing, so I cannot say one way or the other whether Erol is on a winning ticket or not by investing in Bitcoin.

This is the third or the 4th time in the last 30+ years that my US mutual funds in an IRA accounts has hit rock bottom in a very quick spell for various financial black days, including 9/11, and each time the market has came back much stronger than before. I have neither panic sold nor bought on the dip because one does not know when the bottom is, and since it is a retirement account and that I have another 7 years before I must start making the required distributions to myself, I am not at all worried what has happened in the market the last few weeks.

Sure, had I known by looking at a crystal ball a month before the financial market would face a meltdown, I could have converted the mutual funds into cash in an IRA account without penalty and then re convert to funds when the market would make a turn that would have increased my fund holdings, but I never wanted to gamble with these long term funds, so I never bothered. Past financial black days comes handy in today’s realities with the stock market, that I can sleep well at nights despite the financial turmoil. Time is on my side. Let’s hope the next major black market day won’t happen for another 10-15 years from now.

[erolz66]

BoE cuts base rate to 0.1 % FTSE and Sterling both up slightly on the news so far. Could negative base rate be on the cards ? I have a credit card that is 'base rate' (for life). Should rate hit negative territory I would then be getting paid by Co-Op bank for borrowing money on this card, the more I borrow the more they pay me each month. Crazy stuff.

[erolz66]

Looks like the US is going to 'helicopter drop' money to citizens directly with the money 'landing' as soon as a couple of weeks ! Crazy stuff. (bitcoin just broke back above 6K usd)

[Kikapu]

Looks like the US is going to 'helicopter drop' money to citizens directly with the money 'landing' as soon as a couple of weeks ! Crazy stuff. (bitcoin just broke back above 6K usd)

Last time it was $300 by George W. Bush after 9/11 financial black day.

[erolz66]

Looks like the US is going to 'helicopter drop' money to citizens directly with the money 'landing' as soon as a couple of weeks ! Crazy stuff. (bitcoin just broke back above 6K usd)

Last time it was $300 by George W. Bush after 9/11 financial black day.

That was in the form of rebate against taxes owed was it not ? As I understand it they are now talking about sending out actual cheques to every US citizen ?

[Kikapu]

BoE cuts base rate to 0.1 % FTSE and Sterling both up slightly on the news so far. Could negative base rate be on the cards ? I have a credit card that is 'base rate' (for life). Should rate hit negative territory I would then be getting paid by Co-Op bank for borrowing money on this card, the more I borrow the more they pay me each month. Crazy stuff.

Why play the lottery when you can hit the “jackpot” with your credit card just by borrowing money.

[erolz66]

wow bitcoin just broke 6300 USD !