Spending money on Bitcoin is not "investing" it is "GAMBLING" Watch

erratic_deus
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Above ^
Tired of all these "I'm a future Oxbridge Economics student, I have invested in Bitcoin" types.
You didn't invest.
You gambled.
You can lose money just as much as you can gain money.
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IWMTom
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(Original post by erratic_deus)
You can lose money just as much as you can gain money.
Just like investing, then?
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Ganjaweed Rebel
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Since the Brexit referendum, all my holdings of sterling are down
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JMR2019.
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(Original post by erratic_deus)
Above ^
Tired of all these "I'm a future Oxbridge Economics student, I have invested in Bitcoin" types.
You didn't invest.
You gambled.
You can lose money just as much as you can gain money.
That's what happens with any investment you make, e.g. Currency, stocks, property etc. etc.
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JJTwentyOne
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(Original post by erratic_deus)
Above ^
Tired of all these "I'm a future Oxbridge Economics student, I have invested in Bitcoin" types.
You didn't invest.
You gambled.
You can lose money just as much as you can gain money.
Why are you tired of the people saying this? In my opinion it's a valid investment/gamble, whatever you wish to call it. So far people have made a lot of money from it. People will loose if they're not careful but this is the nature of any investment as you're risking money in a new technology.
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the bear
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the taxman will be taking a hefty slice of any profits people make on these activities. it's win-win for Brexit Britain.
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username1207499
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It’s a bubble. The only reason people are buying it is because other people are buying it which creates a feedback loop. Eventually it will burst and the actual value of bitcoin will be shown to be a tiny fraction of its current valuation since its not used day to day as other currencies are. Problem is it’s so volatile that shorting it could bankrupt you before you get the payout
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username2965904
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I agree with the OP- unless it is to spend on something, it is a currency gamble.
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FriendlyPenguin
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Edit: Sorry, wrong thread
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TheMcSame
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(Original post by FriendlyPenguin)
Cryptocurrencies are the future. I don't think it is right to dismiss Bitcoin as a fad.

There are also probably a lot more uses for it in countries with poorer existing financial infrastructure, or much more restrictive regulations (hence why so many Chinese own bitcoin).
What makes you think governments will adopt bitcoin rather than conjure up their own? Physical currency may well go away at some point, but the Government will have their own virtual replacements long before that happens.

Hell, that assuming they adopt cyptocurrencies rather than just do away with physical money and have everyone pay with their debit/credit cards...
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The PoliticalGuy
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All part of life is gambling, if you have any money in a savings account if the sterling crashes all your moneys gone.

Isn't that gambling?

You take a mortgage from a bank the bank goes into liquidation your mortgage fails and you lose thousands of pound

Isn't that gambling?

OP needs to get real. Cryptocurrencies is as gambling as having money in your pocket.
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Humz007
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I've written an entire article about my take on crypros which pretty much answers this thread.
Here's the link:
https://themarketmogul.com/cryptocurrencies-bubble/
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Faction Paradox
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I'm not convinced that Bitcoin is going to be THE currency of the future, but I think that cryptocurrencies are only going to grow in popularity, so even if you don't make money or even lose some money, I think there are probably going to be real advantages in the future of having experience and knowledge of cryptocurrencies before it gets to a stage where its too late to learn.
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Emms98
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(Original post by IWMTom)
Just like investing, then?
(Original post by JMR2018)
That's what happens with any investment you make, e.g. Currency, stocks, property etc. etc.
The difference is that Bitcoin is far more fotalitle and risky so investing in bitcoin is almost pure gambling whereas stocks and property overall tend to increase in value in the long run.
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m4ttch4mp
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It's not an investment because bitcoin doesn't have value since it's a currency. It only has a price.
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IWMTom
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(Original post by Emms98)
The difference is that Bitcoin is far more fotalitle and risky so investing in bitcoin is almost pure gambling whereas stocks and property overall tend to increase in value in the long run.
"fotalitle" :laugh:

Did you mean volatile? Any investment carries risk - the level of risk doesn't deviate from the fact it is an investment.
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Ninja Squirrel
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(Original post by TheMcSame)
What makes you think governments will adopt bitcoin rather than conjure up their own? Physical currency may well go away at some point, but the Government will have their own virtual replacements long before that happens.

Hell, that assuming they adopt cyptocurrencies rather than just do away with physical money and have everyone pay with their debit/credit cards...

It's 2018 and people still think bitcoin is trying to replace government issued fiat currency Bitcoin isn't trying to undermine anything, it's just an alternative decentralised way to store your wealth. Why should I pay fees to institutions or risk my wealth being manipulated and devalued by governments? Bitcoin is trying to be gold, bit in digital form.


(Original post by m4ttch4mp)
It's not an investment because bitcoin doesn't have value since it's a currency. It only has a price.
Bitcoin isn't a currency, no crypto"currency" meets the criteria of being a currency and probably never will. I think cryptocurrency should be renamed to cryptoasset because putting currency in the name just confuses everyone.

Cryptocurrency isn't and never will be a proper everyday currency used by the masses. It will however be used as a way to secure networks, which is what it functions best at.
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username3509752
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Nobody (nobody smart at least) uses Bitcoin (or other altcoins) as an actual currency. What's more important is the technology behind it, blockchain.
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Acsel
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Bitcoin is comething you can invest in, just like stocks. However the key difference is in how unpredictable and volatile cryptocurrency is. Stocks have a perceived value. If you own a single stock in a company then regardless of value you have something tangible. That stock represents a tiny percentage of that company, alongside it's monetary value.

Cryptocurrency on the other hand are exactly that, currencies. You don't "invest" in them in the same way you don't invest in US Dollars or Euros. You can buy a currency at a low price, wait for it's value to increase and then sell it at a higher price but this is misleading. What you are actually doing is converting your money into another type of money.

The reason this is a massive issue is unlike traditional currency, cryptocurrencies fluctuate too much. What would happen if one day you woke up and found out the £100 in your bank account was only worth £50? Or worth £200? That's what happens with cryptocurrency. You can describe it as an investment but what's actually happening is you're converting money into a more volatile source of money in the hope that it's value will rise.

Any sort of investment requires risks. Traditionally investing in stocks can be seen as a form of gambling. However there are some key differences. Gambling involves wagering money on an event that is totally undetermined. Any outcome has a fixed chance that basically does not fluctuate. True investment such as buying stocks involves an unknown outcome that is not fixed and has no guaranteed probability but facts and knowledge can be used to make safe decisions. Bitcoin is somewhere in between. It is not gambling because the outcome is not fixed but there are too many unpredictable outcomes to consider it safe investing. If you did loads of research around the time Bitcoin forked you might have purchased some Bitcoin, acquired some Bitcoin Cash after the fork and made some money. But a lot of people don't do their research and even those that do make bad decisions or get stung. Due to the volatility, you could be sitting on millions now but a single bad announcement could see that all become worthless.

People serious about investing should be steering clear of cryptocurrency. Ideal investing is about making safe investments that guarantee returns or making calculated risks. Cryptocurrency is too volatile to be either. There are far too many people doing stupid things like putting their life savings into Bitcoin. The most important thing to remember is that any money you put in you should be prepared to lose. Bitcoin will burst, it is not a sustainable cryptocurrency for the future and a lot of people are going to lose out when it does.
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Emms98
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(Original post by IWMTom)
"fotalitle" :laugh:

Did you mean volatile? Any investment carries risk - the level of risk doesn't deviate from the fact it is an investment.
Yeah I meant it was volatile
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