View Poll Results: Do you have bitcoin in your portfolio?

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  • Yes

    11 35.48%
  • No

    19 61.29%
  • XBT? So 2016. I have XRP/ETH/dogecoin//

    1 3.23%
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Do you have Bitcoin in your portfolio?

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  1. #1

    Join Date
    Feb 2019
    Posts
    3,240

    Do you have Bitcoin in your portfolio?

    Do you have cryptocurrency exposure?

    Zahwa likes this.

  2. #2

    Join Date
    Jan 2010
    Posts
    6,452

    LOL, portfolio

    that's like asking "do you have scratch-offs in your portfolio"

    traineeinvestor, jgl and paddylast like this.

  3. #3

    Join Date
    Feb 2019
    Posts
    3,240
    Quote Originally Posted by mrgoodkat:
    LOL, portfolio

    that's like asking "do you have scratch-offs in your portfolio"
    Right now it's more like having crack cocaine in your portfolio
    Morrison, HK_Katherine and snach like this.

  4. #4

    Join Date
    Feb 2009
    Posts
    8,279

    I bought some bitcoin at Mongkok MTR station around 11pm one night after company servers were attacked by ransomware and the hackers wanted 3 bitcoins to unlock the servers. Since I didn't have an established bitcoin trading account and this would take a few days to setup which is time I didn't have, I had to withdrawal cash from an ATM and then met the bitcoin trader at the MTR and paid in cash and he kindly showed me how to transfer the coins to the hackers for free. Then the hackers sent me the decryption keys so I could unlock the servers and company was back to normal .

    Lucky this was a few years ago now when bitcoin was only $500. So cost was only around $1500 in total.

    Morrison and snach like this.

  5. #5

    Join Date
    Feb 2019
    Posts
    3,240
    Quote Originally Posted by bdw:
    I bought some bitcoin at Mongkok MTR station around 11pm one night after company servers were attacked by ransomware and the hackers wanted 3 bitcoins to unlock the servers. Since I didn't have an established bitcoin trading account and this would take a few days to setup which is time I didn't have, I had to withdrawal cash from an ATM and then met the bitcoin trader at the MTR and paid in cash and he kindly showed me how to transfer the coins to the hackers for free. Then the hackers sent me the decryption keys so I could unlock the servers and company was back to normal .

    Lucky this was a few years ago now when bitcoin was only $500. So cost was only around $1500 in total.
    If you'd bought four and kept the last one, that would have covered the cost of the hacking. Ten times over.

  6. #6

    Join Date
    Feb 2005
    Location
    Manchester, UK
    Posts
    7,789

    Feck me 1 bitcoin = 171,138.24 Hong Kong Dollar

    mokhi6 likes this.

  7. #7

    Join Date
    Feb 2019
    Posts
    3,240

    You can get some wild interest on these things

    If you buy a bitcoin and go short the perpetual swap on one of these futures platforms, you lock in your US dollar value and earn a 'funding fee' of about 0.03% per day, which seems like quite a good deal...

    biffski likes this.

  8. #8

    Join Date
    Jan 2010
    Posts
    6,452
    Original Post Deleted
    In the case of bitcoin it seems closer to a ponzi scheme perpetuated by only a handful of exchanges without any oversight and publicly available trading data. Most of bitcoins values probably comes from wash trading on those exchanges. Not so much a bubble.

    Edit: 95% of bitcoin trading volume is estimated to be fake

    https://www.sec.gov/comments/sr-nyse...833-183434.pdf
    traineeinvestor likes this.

  9. #9

    Join Date
    Feb 2019
    Posts
    3,240

    The US dollar is making all-time lows by the hour

    It just crashed through 0.000045...

    With the printing presses whirring, fiat currency isn't worth the paper it is written on


  10. #10
    Quote Originally Posted by GentleGeorge:
    The US dollar is making all-time lows by the hour

    It just crashed through 0.000045...

    With the printing presses whirring, fiat currency isn't worth the paper it is written on
    While various forms of money printing (QE, MMT etc) are as, you say, going into overdrive and the value of currencies will continue to decline as a result, that's a reason for not leaving your savings in cash/bank deposits (beyond short term needs) - it's not a reason for buying into a bunch of computer code with a catchy name.

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