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Buying cryptocurrency from HK

  1. #111

    Join Date
    Dec 2018
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    129
    Quote Originally Posted by shri
    Reading about some of the sums involved, I'm sure plenty of people have made plenty of money. Esp the JP Morgan intern who did well for himself.

    Too bad for the clients whose money is stuck

    But then everyone knew the risks...
    Think of it as a form of education - those who fell for the delusion that crypto currencies are anything but a scam are learning that speculating on a few lines of computer code with a name that sounds exciting and sexy is not a terribly good idea.

  2. #112

    Join Date
    Jul 2004
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    2,508

    And yet delusional ideas propagated by some of the biggest in the industry.. Looks like someone at the top hastily jumped on the bandwagon at the peak of crypto-mania and went ahead with investment, now no way to look back so try the idea and let it die after couple of years.. JPM coin, Neither blockchain nor crypto, completely senseless idea..

    https://www.bbc.com/news/business-47240760

    traineeinvestor likes this.

  3. #113

    Join Date
    Dec 2018
    Posts
    129

    The more I read about cryptocurrencies and crypto exchanges failing, the more I am reminded of the US banking industry in the days when each bank could issue its own currency. Needless to say, it didn't end well.

    There's an excellent read on the subject: https://www.amazon.com/Exchange-Arti.../dp/B001C2M1KW


  4. #114

    Join Date
    Mar 2016
    Posts
    31
    Quote Originally Posted by traineeinvestor
    Think of it as a form of education - those who fell for the delusion that crypto currencies are anything but a scam are learning that speculating on a few lines of computer code with a name that sounds exciting and sexy is not a terribly good idea.
    I'm interested, who do you propose is scamming who?

    As for the wisdom of speculating on high risk assets, all I'll say is that even though I allocate the large majority of my regular investments to traditional asset classes, crypto currency has been far and away my most profitable venture over the last few years (despite surging stock markets).

    High risk, high reward makes sense when the upside is demonstrably so significant.

  5. #115

    Join Date
    Dec 2018
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    129
    Quote Originally Posted by MrSapSap
    I'm interested, who do you propose is scamming who?

    Look at where the money is going from and who it is going to.

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