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Bitcoin Crashed! Now What? Watch

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    (Original post by The Financier)
    By "Your", I am referring to a potential buttcoin investor in that sentence. I don't see how referring to an item as being rather undesirable to hold is remotely offensive.
    because it's inappropriate language. Plus it wasn't clear whether you were referring to my 'hypothetical' investments, or just using language in a different way.

    I have come across you before, and you were quite passive aggressive against me in the past. Although the threads have been deleted, i still remember, okay?!?!>?
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    (Original post by john2054)
    I don't know what you mean by this. I don't have an investment in bitcoin, much less a thesis in it. And to be calling this, '****' which is what you did, is quite offensive, and i would have expected more from tsr staff to be honest with you. don't do it again.


    How much is your portfolio worth? I have watched lots of videos on trading, and even invested some of my own money, before pulling it all. I don't consider myself completely clueless, if anything i know enough to know how little i truly understand the markets. So if you think you know so much more than me, because you recently moved out, and are doing a degree in economics. Good for you. I moved about just under twenty years ago...

    Plus i lived through the 07 and 08 crashes. Did you even know that there was a major economic crash in 2007?
    Yes, I do know that. I have written essays on the 2008 financial crisis and received distinctions.

    My portfolio is worth £5000. I have traded virtually for two years, and with real money for one year. So far, I have developed my risk management skills and I am making a positive return, above most market benchmarks. I also did an internship at a financial firm and a stock broker.
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    (Original post by biglad2k16)
    Yes, I do know that. I have written essays on the 2008 financial crisis and received distinctions.

    My portfolio is worth £5000. I have traded virtually for two years, and with real money for one year. So far, I have developed my risk management skills and I am making a positive return, above most market benchmarks. I also did an internship at a financial firm and a stock broker.
    sounds good, what do you want to do when you are older, and do you get sfe? Because i don't see how you will be eligible for this, with £5k in assets?
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    (Original post by john2054)
    sounds good, what do you want to do when you are older, and do you get sfe? Because i don't see how you will be eligible for this, with £5k in assets?
    Yes, I get sfe. I really want to go into investment management. I am planning to do an internship at one of the asset management firms like JPMAM, GSAM or Fidelity if possible and hopefully perform well on this internship, in which I will be considered for a graduate position. If I don't manage to secure a place, I'd probably try and get into the risk management division at one of these firms and then aim to get promoted into an investment managing role.
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    (Original post by biglad2k16)
    Bitcoins are a **** investment because, unlike stocks, currencies, bonds and property, they aren't affected by any actual market forces as much as they are by pure fluctuation. You can't guess where bitcoin's rockets is going to be in a months time or a years time, but you can guess this with stocks and currency.
    That's not strictly true, back in the day it was so thinly traded that talk of a new exchange being set up would lead to a massive upswing.

    (Original post by sleepysnooze)
    what do you mean "crashed"? as in the bitcoin economy crashed? ehh. I bought an amount last night and I didn't see a huge jump or crash in the price?
    It lost nearly 25% of its value, the one thing which makes trading this **** so easy is how utterly delusional Bitcoin advocates are.

    (Original post by biglad2k16)
    I study economics and finance and I manage my own portfolio (although it's a small portfolio and I engage in shorter term investments lasting 1-2 months rather than years). And you having a guy who invests for you doesn't mean you know anything about the markets, anyone can just get a guy to invest for them if they have the money. I don't want to sound rude, apologies if I have sounded rude, but I do feel that I know more about this topic than you do.
    In some cases I would argue that people who invest in professional managed trusts are showing a far better understanding of markets than people who drop 2k in a trading platform and treat it as a hobby. It's obviously fun and cool to DIY but by investing in trusts you gain access to niche markets it would be impossible to access as just a normal guy without a huge personal fortune. I'm not saying this applies to you personally, but telling random guys to drop money in the stock market and trade is like telling the gazelle to go play with the lions.
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    (Original post by biglad2k16)
    Yes, I get sfe. I really want to go into investment management. I am planning to do an internship at one of the asset management firms like JPMAM, GSAM or Fidelity if possible and hopefully perform well on this internship, in which I will be considered for a graduate position. If I don't manage to secure a place, I'd probably try and get into the risk management division at one of these firms and then aim to get promoted into an investment managing role.
    sounds like you are doing well. I spent over £30k on my degree, and what did i get out of it? Well a wife at least....
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    (Original post by john2054)
    sounds like you are doing well. I spent over £30k on my degree, and what did i get out of it? Well a wife at least....
    Well I haven't gotten anything out of it yet, the internships are really competitive to get into. I hope I do manange to secure a place but nothing's certain...

    Sorry to hear that, but do keep looking for jobs. Maybe consider doing a masters and going into teaching or civil service work since they hire quite a lot of people. There's quite a lot of demand from maths teachers at the moment, if that's something you're interested in
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    (Original post by biglad2k16)
    Well I haven't gotten anything out of it yet, the internships are really competitive to get into. I hope I do manange to secure a place but nothing's certain...

    Sorry to hear that, but do keep looking for jobs. Maybe consider doing a masters and going into teaching or civil service work since they hire quite a lot of people. There's quite a lot of demand from maths teachers at the moment, if that's something you're interested in
    Thanks for the support. I can't be a maths teacher, because i don't have a maths degree.

    I have however been able to get a job at a nearby health advocacy, this is a social media role. So it's not that i don't have anything. Just this is a voluntary position. Still though, with time i guess?

    J
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    While i do consider people who invest in Bitcoin as foolish (it's too unstable and unpredictable) it's not quite true to say Bitcoin is not impacted by market forces.

    Bitcoin is essentially a hedge and is counter cyclical so when attempting to ask yourself whether to buy Bitcoin for a years time your frame of reference should be 'Do i expect financial markets to be more unstable in a years time than i do today'.

    Currently it looks like the Netherlands could be headed for a referendum on EU membership but Merkel and Fillon look like winning in France and Germany so generally i would lean towards greater stability in 2017 and a generally declining Bitcoin price.
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    I think bitcoins do have their place and are a legitimate way to pay things but I wouldn't see them as an investment opportunity.
 
 
 
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