Not sure if there is any reason why it can't be posted here, but if there is, I wouldn't mind a copy via PM to read?Surprised wrote: 05 Mar 2018, 19:01 I do have the source code for the post in question so could post the message here if you wanted.

Not sure if there is any reason why it can't be posted here, but if there is, I wouldn't mind a copy via PM to read?Surprised wrote: 05 Mar 2018, 19:01 I do have the source code for the post in question so could post the message here if you wanted.
I've been trading stocks for over 20 years with my savings and I lucked out though 2008 crushed me. In the last few years, Bitcoin was on my radar and I decided to buy 2 coins at $276 which then turned to trading when it hit $5,000. Since I use GDAX as my exchange, I spread to Ethereum and Litecoin and I've done very well.
I sold most of my holds in mid-December and sold the rest about 7 weeks ago. I waited to post something until I moved all the money to my bank account (there are withdrawal limits even on wires) and I wanted to file my taxes so I know how much money I would have left.
I wanted to do the following with the profits:
Pay off my in-laws mortgage. They're in the retirement age but don't have enough saved up. Paying off their mortgage would severely cut their expenses since their income has dramatically dropped and the mortgage was the largest bill they had by far (they were both laid off).
Pay off my wife's student loans (which she has had prior to us getting married). This has been a stone hanging around her neck and although I personally didn't want to pay off her loans, enough's enough.
Pay off or at least severely cut our own mortgage.
My wife had NO idea I did any of this or made so much money. I felt a bit guilty not telling her since my initial investment was relatively small and the gains were astronomical.
So, a week ago, I was finalizing our taxes so I knew how much money I had left over to play with. I sat my wife down and told her I had some great news. I asked her not to say anything until I was done - I even had a speech prepared. I held her hand while I was talking and her eyes turned square.
When I was done, she still didn't say anything and I asked her "so, what do you think?" and she said "you said not to say anything..." and then said this was awesome news, she can't believe it, she asked me right away if we got all the money secured, what about taxes - she was so excited that she was all over the place. I asked what she thought about my plan and she said that we need to call her parents right away since she'd rather their mortgage is paid off than her student loans. I told her we'd have enough for both and she began to cry. I think she was just in shock and not really comprehending what I just told her.
So we called her parents (who are really fantastic people) and told them that we were giving them a gift and paying off their mortgage. Just like with my wife, there was silence. "What about your retirement" was the question. I told them not to worry, we have enough and we want to do this for them. Silence. I think her mom was crying since dad took over the phone and said he doesn't know what to say, he asked again if we're sure, and if we're ok ourselves. Like I said, they're really great people.
I told him that we can go online right now and pay off their mortgage. He said that this is too much and he doesn't want to make a big decision right now. He asked me to give them until tomorrow. I agreed but asked how much his mortgage was and he gave me a figure. It was actually a bit higher than I thought but still reasonable.
I went to my wife's computer and logged into her student loans, entered the payoff amount and told her to click on the payment button. She just looked at me for a bit, had that smile of hers that I love, and clicked on the payment button. She squealed and I think you could see her smile from the street.
The next day, her parents called us and again profusely thanked us, once again asked if we're sure this won't hurt our plans, and then I went into their computer remotely, they logged into their mortgage, added my bank info, clicked the payoff button, entered the amount and told them to click on the payment link when ready. They waited a minute or so and clicked on it. I had a huge grin on my face and told them they're all set but to confirm with the mortgage company and save the letter they send for the payoff statement. Dad again thanked us and had no words. Mom was on the line but I think she muted herself since she barely spoke. A few days later, we get a really beautiful card from them telling us how much this meant to them. My wife cried and I wasn't too far off - it was a very touching card.
With the rest of the money, I put that towards our own mortgage. It didn't pay it off but it paid about 40% of it. It might not have been the best idea since I could have reinvested that but my goal is to dump our mortgage and seeing investment profits is one thing but it began to blur into no real value. It was only until I saw my bank account balances that I saw this money as "real". I was also getting way too cocky with investments and I needed a cool-off period or I'd turn from investments into gambling. So yes, I could have made more but I could have lost more as well and become more risky. This way I had something tangible to show for it now even when I eventually return to the market. Besides, I helped out my in-laws, helped out my wife, and helped our situation. Mathematically, it might not have been the best decision but from how I feel, it was the best decision.
Now in case there are questions, I don't typically recommend trading cryptocurrencies until you've put in a few solid weeks of research into what it is, its volatility, which exchanges are available and the fees involved. It is definitely speculation and I was simply lucky enough to get in sooner than many and I was able to trade while crypto was booming. It's not booming anymore but you can still make money although it's a lot more risky.
I hope this helped some people and the real lesson that I'd like to share is to spread the wealth and help those who are less fortunate than you but definitely take care of yourself. The other lesson is that investments mean nothing if you're still struggling personally. You sometimes should cash out and pay off or at least pay down your own debts. That way if the investments go down, you already have something to show for it.
I hope this helps and good luck to everyone!
These many institutions you mention are the ones who will loose out big time and they know it.Archy wrote: 05 Mar 2018, 20:27 In the interest of balance, please be aware that many significant institutions (including the Bank of England and Goldman Sachs) warn of the dangers of investing in a currency with no intrinsic value. This is being kind, others refer to them as little more than a Ponzi scheme.
ISA's always end then long sell withStriker wrote: 06 Mar 2018, 23:05 Nobody disputes that the block chain technology behind crypto-currencies is brilliant and no one knows how sustainable the currently popular currencies will be. Articles about it are fascinating. However I remain sceptical about investing myself since the massive 2017 bitcoin price increase (price not value as no one knows what the latter is), as I am a conservative financial investor, despite betting (successfully) on horses all my life, and I only invest in things which my limited brain can understand such as the stock market.
CCs might become a basic element of finance in years to come or they might not. Like many other things in life they encompass multiple potential benefits and multiple potential risks for both individuals and society. But for the average man in the street to be investing in CCs, UNLESS they accept that it is a outright gamble, is downright stupid.
Firstly, your post is rather rude. Just because you don’t agree with it doesn’t give you the right to be disparaging.Finsimbo wrote: 05 Mar 2018, 20:58These many institutions you mention are the ones who will loose out big time and they know it.Archy wrote: 05 Mar 2018, 20:27 In the interest of balance, please be aware that many significant institutions (including the Bank of England and Goldman Sachs) warn of the dangers of investing in a currency with no intrinsic value. This is being kind, others refer to them as little more than a Ponzi scheme.
as in
Bank of Poland
As for the rest of your post...meh, do some research man
Firstly my response was because I read your as rather rude in the first place, dismissing all that I have said and quoting institutions that are exactly what CC is aiming to disrupt, why wouldn't they disapprove, they will loose out.Archy wrote: 07 Mar 2018, 08:26Firstly, your post is rather rude. Just because you don’t agree with it doesn’t give you the right to be disparaging.Finsimbo wrote: 05 Mar 2018, 20:58These many institutions you mention are the ones who will loose out big time and they know it.Archy wrote: 05 Mar 2018, 20:27 In the interest of balance, please be aware that many significant institutions (including the Bank of England and Goldman Sachs) warn of the dangers of investing in a currency with no intrinsic value. This is being kind, others refer to them as little more than a Ponzi scheme.
as in
Bank of Poland
As for the rest of your post...meh, do some research man
It seem to me you actually have no interest in other views at all! Certainly not mine, nor any of the self-interested institutions who warn against it (which is pretty much every major player in the current financial system and every retailer you’ve ever heard of).
If you actually want to make a more positive response to my post than “meh”, perhaps you could educate us by naming 5 household names in the UK who are actually prepared to accept payments in crypto currencies?
Finsimbo wrote: 07 Mar 2018, 09:43 All posts on this thread have no real substance other than to knock me.
Personally, I wouldn't touch Bitcoin with a ***tty stick however to answer the above there's a divey wine bar near here that claims to accept them - the Forum Wine Bar in St Helier. I don't believe they sell the other product you speak of but I've never asked either.Archy wrote: 05 Mar 2018, 20:27I couldn’t see a single known organisation that accepted them, and most that did seemed to be cannabis seed sellers.
Ok maybe I am being over sensitive but hey and it is enlightening to see how dismissive ppl are on here at the slight mention of CC. Indeed no one does know the future of Bitcoin but some ppl have a very good ideaStriker wrote: 07 Mar 2018, 23:08
No, there is a very significant difference between backing horses and investing in a CC. Assuming that in both cases we are dealing with an intelligent punter who has done considerable homework, then in the case of a bet on a horse one can estimate roughly ones own subjective probability of a horse winning and compare that with the odds available. One's own estimate of the probability of winning is usually going to be not too far distant from that represented by the odds available. It's then a question whether the odds are favourable or unfavourable. Making a profit depends on your estimation being better than the market estimation, but we basically know what the probability is and the factors that are the main determinants. But however much research you do on CCs, you can't attach probabilities in a reasonably narrow band to the outcomes, the market tends to be all over the place. Research may avoid the worst errors but basically it's guessing.
Finsimbo wrote: 07 Mar 2018, 09:43 All posts on this thread have no real substance other than to knock me.
That is simply being over-sensitive. I and most other posters who disagree with you aren't trying to knock you but are simply expressing a different point of view. In fact that sentence might be the first one that you've written which is clearly and totally wrong. No one knows the future of bitcoin etc and it could be the future, but it may finish up discredited. Consequently this discussion provides a worthwhile and interesting thread largely due to the different opinions being expressed.
This!!!!
it's 2024 and bitcoin has already broken the $70K mark.hancockjr wrote: 21 Mar 2018, 12:57 That suggests cryptocurrencies have a future, but not what value they have.
What's the argument for bitcoin being worth $100, $1.000, $10,000 or $100,000?
To invest, something must not only be worth more than nothing, it's got to be worth more than you are investing. How are you valuing bitcoin when you are deciding to invest?
I hope you bought in the years when the exchange rate was low.plasticninja wrote: 24 Sep 2024, 10:08 I hadn't seen this thread before. I wish I had got in back when this thread was started back in 2017. I am going to have fun reading what the naysayers said about it later when I have more time. Base case $125,000 for me sometime in 2025, bull case, the sky is the limit.![]()
I did manage to buy some at around the $9000 mark in 2020. The Solana network is my big bet for this cycle.Vinnyr wrote: 25 Sep 2024, 00:23I hope you bought in the years when the exchange rate was low.plasticninja wrote: 24 Sep 2024, 10:08 I hadn't seen this thread before. I wish I had got in back when this thread was started back in 2017. I am going to have fun reading what the naysayers said about it later when I have more time. Base case $125,000 for me sometime in 2025, bull case, the sky is the limit.![]()
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It's the way i tell em!murf wrote: 14 Nov 2017, 17:54Hope my solid advice saved your shirts!murf wrote:Not sure it being on an up from last month is necessarily a good thing either!
Yeah, totally agree, the fees on ETH are ridiculous. I am a big fan of Solana. It's so fast and cheap.Choenjur wrote: 15 Oct 2024, 22:21 I used to like ETH a lot but the transaction fees are getting a bit too high, making it less accessible. I'm currently using solana more often, especially since I'm into NFTs lately.
I think that's how most Man United fans feel as well.Choenjur wrote: 15 Oct 2024, 22:21I used to like ETH a lot but the transaction fees are getting a bit too high, making it less accessible.