Tesla trading Bitcoin. A bubble within a bubble. I’m still chuckling about it.
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Musk that loon. Set’s up Tesla to sell with Bitcoin, buys an enormous amount himself then tells the world that the Bitcoin price is too high.
I dont see myself as a trader, so this isn’t aimed at me. I aim to buy and hold for at least 5-10 years but to date I’ve probably sold a lot of my holdings within a 1-3 year window.
I dont short. There is a famous quote about the market’s ability to remain irrational longer than you can afford to hold the short position.
No doubt some people use it well, but I dont see the need to use it, particularly if not experienced. The upside is limited while the downside isn’t.
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Morning,
I think it was yourself who responded but as you say it is a hard investment to judge. Like yourself, I dont understand it.
I believe, that recently there has been alot more acceptance to Crypto by banks, credit cards, investors and notably Elon Musk which have assisted in its rise. So that a single Bitcoin has at one point increased in value of £40k in a single year.
Just curious as to what peoples thoughts are on the longevity of Crypto.
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Yeah I agree. I’m purely focussing on short duration trades, only a matter of hours at the moment and looking at opening up options for more opportunities.
In the grand scheme I’m playing with pennies purely to learn, see if I like it and how far I can take it. Thus far I’m only really scalping small bullish reversals and that’s fine but it also seems logical to play it in reverse but there’s more to it and therefore a little more care needed I feel.
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Ultimately I see it becoming fully regulated. It’s a full techno industry now so shutting it down is unlikely I feel. But they won’t let it carry on like the Wild West.
@redfanman man also touched on the environmental side to it. That needs to be sorted one way or another.
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I trade the signals based on my technical analysis, whether that is short or long.
Interesting. It’s the borrowing bit that makes me apprehensive. I hate that side of money and naturally shy away from loans, credit cards etc.
Sorry, dont know how to quote your post. It is a similar form if gambling. You can make educated gambles, but still anything can go wrong.
I invested in Jan 18’ I believe and it dropped big time, but i shrugged my shoulders and accepted that as an investment i should judt accept that it was lost money. I never chased it and thankfully at present it has proved a good decision.
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In a way it is, but having a bath in the morning is a gamble as well - you could easily slip in the bath and split your head open but it doesn’t stop everyone from doing it. It is about putting things in place to minimize the risk.
Yeah I agree and I can see the hypocrisy pointed at Musk. I kind of see it as a Fad and i just want to be able to cash out at the right time. Iv just invested in Cardano, it seems to have good grounding and expectation.
On a similar note, what are peoples thoughts on Non Fungible Tokens (NFT).
I agree, every aspect of life is a gamble. However, some gambles affect your life more than others. With the gamble of potentially slipping in my bath it is at least a gamble I can potentially control 
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Never heard of Non Fungible Tokens. Can you explain more, or are you asking because you don’t know either?
From my understanding they are ‘Artwork’ or ‘collectibles’ that are singular, like a painting which are digitally certified by Blockchain.
So for example, the bloke who started Twitter, sold his first tweet as an NFT for over a £1m, recently a piece of artwork was sold for £63m - currencies maybe incorrect.
Its a weird one, your basically paying for a certificate of authenticity of something that is digital. Well thats my understanding
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Sounds way to complicated for my feeble little brain to understand 
Honestly though, it could be interesting option to look at, but would need to research it so I feel comfortable I understand it
I really do think it is a way of making quick money if you are creative/know someone who is. My brothers friend is making a living off Crypto Art. Nothing crazy mind.
To further explain NFT’s, in the USA are making NFT’s like the Baseball trading cards. I believe in the NBA you can buy NFT ‘cards’ of certain Dunks/rebounds, etc. So to relate it to football, you could buy a series of goals/tricks by a certain player and that clip is yours, like a painting.
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Meme market?
Seems like this one would be worth a fortune
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I would pay billions for that
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I suspect Musk’s interest is driven by him wanting to project an image to future investors or purchasers of his products rather than a belief in bitcoin, at least in current guise, is here to stay. Similar to his public backing of # Game Stonk. Equally, I think the financial institutions are either viewing short term profits, or just want to be able to say they are in touch with new technology, maybe giving themselves protection if it were to be revolutionary move to this.
Bitcoin has existed in a low interest rate environment which encourages speculation, at some point ovrr the next few years they will rise. It is supposed to be a safe haven yet ii think I read that ts price movements have followed other asset classes it is meant to diversify from.
Gold I somewhat get as an alternative investment , I look forward to seeing what case others can make for bitcoin…
Definitely a fad. There was an article a few weeks back about a picture generating a lot of money - which had spent the last decade gathering dust in a draw.
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