Cryptocurrency

[psychocandy]

You haven't made anything until you've cashed out. Until then, you're just another greater fool. If you do cash out before the bubble bursts, well done.

Well the £ in my SIPP are "real". The fund even though its euros is translated to sterling in my H-L SIPP. If I wanted to move £10K out of it today back into another fund I could. In fact, I did move £2K out a few weeks ago (just to check I could lol).

The actual Bitcoin yes fair enough I've never cashed any out.

[northernladyuk]

Just like stocks and shares.



No, actually, as a financial instrument it's EXACTLY like shares.



That isn't a requirement of a share - research share classes, voting rights. How many dividends has GOOG issued?



I'm not cross, entertained with your fixation to move the target to be "right" - even when we've ascertained that additionally to cryptocurrencies, you don't know much about stocks and shares.

You're fixating on "ownership" when in practice (in the real world) shares are a financial instrument that "ownership" is never exercised in the capacity you're arguing.

The shares in people's pensions / ISAs behave almost exactly like an appreciate store of value - until, like Bitcoin, the gains are crystallised.

You are fixated on how shares behave in markets. I am fixated on what they are. The reason this is important is that shares are founded on a tangible value of something real. Bitcoin are just a means of exchange. Their value is only founded on others' willingness to believe in that value. This really is a fundamental difference. I suspect you can see that, but just don't want to acknowledge it.

[northernladyuk]

Well the £ in my SIPP are "real". The fund even though its euros is translated to sterling in my H-L SIPP. If I wanted to move £10K out of it today back into another fund I could. In fact, I did move £2K out a few weeks ago (just to check I could lol).

The actual Bitcoin yes fair enough I've never cashed any out.

If you're making money and getting it out (or get it out before it goes wrong), then good for you.

[TheGreenBastard]

You are fixated on how shares behave in markets. I am fixated on what they are. The reason this is important is that shares are founded on a tangible value of something real. Bitcoin are just a means of exchange. Their value is only founded on others' willingness to believe in that value. This really is a fundamental difference. I suspect you can see that, but just don't want to acknowledge it.

I acknowledge that - however shares are the same - go into your broker, do you BUY a share or BID on a share? Share value is founded on others' willingness to believe in that value.

[northernladyuk]

I acknowledge that - however shares are the same - go into your broker, do you BUY a share or BID on a share? Share value is founded on others' willingness to believe in that value.

I give up. I just can't educate mince.

[FrontEnder]

Moved very quickly from $6000 to $6500. I need some bad bitcoin news so I can buy the dip. Did well last time buying at about $3200.

[vadhert]

I've got a handful sitting around that were from the £700 days. If it moons to a million great, If it falls to zero not so great.

Doesn't matter a great deal as if it goes to a million, a loaf of bread will probably cost £50.

If it goes to zero then FIAT currency will survive to live another day however purchasing power will have diminished there anyway.

Basically you are fooked either way.

[TheGreenBastard]

I give up. I just can't educate mince.

Your defeat has been acknowledged.

[psychocandy]

Question for those of you with a bit more knowledge on this sort of thing.

BTC seems to be rising very fast. I didnt buy a huge amount but its more than tripled. £1K is now about £3.5K.
With my pension, the £10K I invested has already doubled to just over £20K.

Whereas its tempting to assume its going to keep going I've got a feeling it may correct any time soon. Whats the best way to guard against this?

Considering at least taking out £5K of my BTC pension fund and putting it back into a safer fund. Then even if I lose the lot with the remaining £15K (unlikely) Im still only £5K down. Of course, if I took the original £10K back I'd still have a free £10K to play with.

What options do experienced investors consider in this circumstance?

[northernladuk]

You've made a tidy profit but the fact you are having to ask a question like this while investing in highly volatile non physical currency makes me think that's by pure luck rather than good decision making so I'd say take a good chunk of profit and put it somewhere else. You can sit there happy knowing you've made a nice sum where many haven't.

Or you could be greedy and carry on regardless..

IMHO