My friend works for one of the exchanges
The lack of regulation scares *him* and he works there in a senior position.
The first rule of crypto is to be prepared to lose it all very quickly.
But if you have an appetite for risk and you time it right, you may be one of the lucky ones.
At present tho, it is basically a pyramid scheme. People want you to invest so their investment grows and they will often be the ones that know when to get out (and get back in when it drops).
He has a few bitcoins and says he will leave 1 sunk until that magical day when it is worth half a million quid, if that ever happens. The others he has benchmarks that he has decided to cash in on the way up, if it gets there.
I'm not sure I'd jump in at 30k but of course if it is 230k in 12months 30k looks a great investment.
I am largely risk averse so I know it's not for me but good luck if it is your thing.
Posted By: Jester on January 13th 2021 at 20:27:51
Message Thread
- Anyone offofonhere involved in cryptocurrency? (n/m) (General Chat) - Jumbo1, Jan 13, 19:32:51
- In a word no.... (General Chat) - usacanary, Jan 13, 21:44:16
- My friend works for one of the exchanges (General Chat) - Jester, Jan 13, 20:27:51
- My Garry takes all the risk (General Chat) - Jumbo1, Jan 13, 20:30:18
- That's because you go in dry. (General Chat) - Garry Brooke, Jan 13, 20:52:00
- My Garry takes all the risk (General Chat) - Jumbo1, Jan 13, 20:30:18
- glad you bought that up ... anyone good at cracking passwords (General Chat) - ghostof barry butler, Jan 13, 20:01:08
- win some lose some, and the thing is (General Chat) - Tombs, Jan 13, 20:11:19
- That’s why I asked! (n/m) (General Chat) - Jumbo1, Jan 13, 20:01:36
- I invest in bitcoin through the stock symbol GBTC. (n/m) (General Chat) - SeattleSounders, Jan 13, 19:57:27
- Are you a multi-millionaire through them? (n/m) (General Chat) - Jumbo1, Jan 13, 20:00:59
- Nah. Just an easy way to invest in crypto. (n/m) (General Chat) - SeattleSounders, Jan 13, 20:02:02
- So how DID you become a multi millionaire? (n/m) (General Chat) - Jumbo1, Jan 13, 20:02:54
- Regular monthly investing over a 35 year period. The (General Chat) - SeattleSounders, Jan 13, 20:04:39
- My Garry does a lot of that (n/m) (General Chat) - Jumbo1, Jan 13, 20:05:33
- Best advice you can give your kids if you have any. (General Chat) - SeattleSounders, Jan 13, 20:09:10
- Another good bit of advice is ....its unlikely you will ever be rich..... (General Chat) - usacanary, Jan 13, 21:40:03
- Best advice you can give your kids if you have any. (General Chat) - SeattleSounders, Jan 13, 20:09:10
- My Garry does a lot of that (n/m) (General Chat) - Jumbo1, Jan 13, 20:05:33
- Regular monthly investing over a 35 year period. The (General Chat) - SeattleSounders, Jan 13, 20:04:39
- So how DID you become a multi millionaire? (n/m) (General Chat) - Jumbo1, Jan 13, 20:02:54
- Nah. Just an easy way to invest in crypto. (n/m) (General Chat) - SeattleSounders, Jan 13, 20:02:02
- Are you a multi-millionaire through them? (n/m) (General Chat) - Jumbo1, Jan 13, 20:00:59
- I mine for them with my gtx 750ti... I've earnt a Pfennig so far (n/m) (General Chat) - Fairstead thaumaturg, Jan 13, 19:43:38
- Yeah. (General Chat) - Garry Brooke, Jan 13, 19:34:40
- Who bit your balls for coins? (n/m) (General Chat) - Jumbo1, Jan 13, 19:36:42
- You did! (General Chat) - Garry Brooke, Jan 13, 19:59:46
- Who didn’t (n/m) (General Chat) - Jumbo1, Jan 13, 20:00:09
- You did! (General Chat) - Garry Brooke, Jan 13, 19:59:46
- Who bit your balls for coins? (n/m) (General Chat) - Jumbo1, Jan 13, 19:36:42
Reply to Message
In order to add a post to the WotB Message Board you must be a registered WotB user.
If you are not yet registered then please visit the registration page. You should ensure that their browser is setup to accept cookies.