To ask if anyone dabbles with bitcoin?

[MollyWantsACracker]

Disclaimer: I am totally clueless

I bought a few euro worth today, just for fun really

Anyone else?

I do not think people being scammed and losing their life savings is a laughing matter. Sad to see that some people do.

I’m rather more gloomy about the FTSE right now. I actually do use the money I have there and it’s all slumpity slumpity slump too.

The things that go on in the city are pretty dodgy tbh.
Traders in whatsapp groups manipulating prices, agreeing to push prices down, then all buy at the pre-agreed low. It goes on all the time.
I have personal experience of investors' money being embezzled and police and FSA being completely disinterested.
Vulnerable and poorly informed people will always be at risk of exploitation.
Greed and unethical behaviour exists everywhere.

Yeah, the AIM market where I play is particularly bad. It’s like the Wild West and I swear more companies listed there are complete scams than not. There’s the odd gem but they are so hard to find.

Urgh, it’s rising far far too rapidly again. I can’t decide if it’s still in a bull trap or whether it’s safe for me to come out of hibernation. Suspect the former.

The price seems to be rising again. But I read it's all due to this fraud money called Tether.

I have recently signed up with a KayaFX account. So far they've been incredibly pushy and I'm worried I have made a mistake going with them.

I invested an initial £200, but the guy told me that I need to put much more in to make any money - he mentioned between 10-30k!!

He also patronisingly told me to speak to my other half, and that he would speak to him, if needed.

I can't understand their platform and how to turn on auto-trading and no-one has replied to my query.

Can anyone advise me on what steps I should take now? Or should I just withdraw the money that's in there before I have done any trading.

Did you also post this on the MSE forum today? There’s a very similar post and various other people have posted to say that KayaFX is a complete scam. I’ve never heard of it, but you might want to read the last page of this...

forums.moneysavingexpert.com/showthread.php?t=5734347&page=8

No, I haven't posted anywhere else. It would 'out' me over there.

Thanks for the link, I'll get on to it asap.

I'd withdraw the money and look for a reputable exchange. Bear in mind that if it is a scam then you might not get your money out. Threatening to phone your other half to pump more money in is outrageous and I wouldn't touch this company with a bargepole.

You will almost certainly lose all your money if you get a bot to auto-trade it. There is no such thing as a bot that trades and makes you money, and if there was they wouldn't give it out to the public. Apply some basic scepticism to this stuff. The majority of the crypto world is purely designed to suck up the money from fools. If you have never traded before then you are going to lose money learning. The ones making the money from these markets are the experts, be them legitimate or not.

Forex has had all these scams (brokers, trading bots, dubious "tuition") going for years, and crypto has allowed a new level of criminal activity to go on.

Check out this video where former pump and dumper Jordan Belfort (the real Wolf of Wall Street) talks about it all (3.30min in):

Take it out and hold it, I'm caught in coin base scam at present where I have sold my coins and they won't verify my account and transfer my money over and they don't email me anymore I aim stuck.

The Winter Olympics are nearly over.

I'm sorry you've been caught, Sersiouly.

So when people are scammed there is absolutely no comeback whatsoever. Nobody to complain to, no governing body regulating no interference from governments. Sounds like a crooks paradise.

Hope you get your money back.

They are very easy to steal so the advice is if yo have them, don't tell people you have them

Yes coinbase have my money (enough to loose but I'm not going ti write it off) and won't verify my account.. Stopped answering emails. Anyone who hasn't gone through this process yet be careful because the buy abd sell buttons are so easy to use.... Then... Big big snag..

Is this because you bank with a building society seroiously

Sorry to hear you’re having problems

My building society has said every in my side is fine.. There seems to be more reason to for them not to verify I don't know what building society has to do with it..

I suspect that Molly is just casting around for ways to help you, Sersiouly.

Were you not with Nationwide? I thought Coinbase had to stop dealing with Nationwide because of processing problems:

bitcoinist.com/coinbase-announce-they-will-no-longer-accept-deposits-from-nationwide-bank/

Apologies if I have confused you with another poster.

I’ve asked before (assuming you are the same poster) whether your coins are still showing on your account or whether they have vanished into some vague space awaiting your verification. If they are still showing in your account, there are other possible ways to get round your problem.

Yes Sersiouly. I had understood that there were some issues with regard to the relationship between coinable and building societies, and wondered if that was the case in your situation.

There must be other people who have encountered this problem and resolved it? As I said, I'm sorry you're having difficulties...

coinbase obvs 🙄

Thanks for the advice etc.

I obviously won't be adding any more money and it certainly wouldn't be anywhere near what this man suggested, if I did. I just wanted to dabble.

Well if you going through coin base do teeny amount and try to sell and verify your account.

I heard building society may have issues but my manager said no issues my side at all... I googled account verification issues and I'm in a long line of people struggling.. Apparently there are other ways round it. I can sell through some new else or something but it's complicated and will need to keep paying fees.