Price collapse proves crypto has no value and is worthless

[YouHaventDoneAnyWork]

Headline in the newspapers today.

Sad for anyone who bought into this pyramid scheme without understanding the technology (few really do) and therefore risks and has now lost money, but AIBU to think this should be banned like the financial fraud and environmental disaster it is and hoping this is the beginning of the end.

Yep.

@Greenstick 👌this is the nearest MN will let me do to a like.

Surely with pyramid schemes you just sell out when 7 or so layers have been established below you and start the next scheme. Like crypto.

Also, if you've not trading crypto before it's best to start with v small amounts (or, indeed a demo account) so you get the feel for the currency. Different currencies and currency pairs have their own distinctive feel and behaviour. In truth - if you're not registered as a professional trader you can't trade with crypto anyway (by that I mean using leverage) - you can only buy it at face price and put it in your crypto wallet, then sell it back. The FSA banned retail trading of crypto about a year ago - too many people losing their life-savings!!!

Also, if you've not trading crypto before it's best to start with v small amounts (or, indeed a demo account) so you get the feel for the currency. Different currencies and currency pairs have their own distinctive feel and behaviour. In truth - if you're not registered as a professional trader you can't trade with crypto anyway (by that I mean using leverage) - you can only buy it at face price and put it in your crypto wallet, then sell it back. The FSA banned retail trading of crypto about a year ago - too many people losing their life-savings!!!

Also, if you've not trading crypto before it's best to start with v small amounts (or, indeed a demo account) so you get the feel for the currency. Different currencies and currency pairs have their own distinctive feel and behaviour. In truth - if you're not registered as a professional trader you can't trade with crypto anyway (by that I mean using leverage) - you can only buy it at face price and put it in your crypto wallet, then sell it back. The FSA banned retail trading of crypto about a year ago - too many people losing their life-savings!!!

Sorry, reposted 3 times. technical issues

I’ll stick to gold thanks
I started buying it 45 years ago and have never seen it drop below a level that concerns me
when it’s high I sell when it drops I buy back and a bit more

@JaceLancs I'm jealous. A gold investment adding in regularly over the last 45 years, while gold has been quietly booming in it's own unassuming way is prob one of the best investment choices possible! Do you buy physical gold or ETFs / gold-miners? Any tips for me?!!

I buy sovereigns, kruggerands and jewellery but only at the gold price per weight at the time
With the jewellery I get the pleasure of owning and wearing it whilst knowing I can sell it when either the price is right or I’m bored with it
I also have a fairly large collection of antiques (non jewellery related) which hopefully will be an investment for my DC and easier to retain and not contribute to nursing home fees or inheritance tax! 😂

The value of investments can go down as well as up, it’s not really a secret tbh

Both my stocks and shares investment and crypto have gone down, that’s why people have mixed portfolios.