Funny you should mention this. It was a very similar situation which led me to offload the crypto I had in November.
A particularly grungy looking IT worker in our place was in my office installing a new dual monitor for me. A very unkempt member of staff who wouldn't be known for his great wit or mental prowess. You know the type, in to metal music, greasy goatee, hobbies include flying drones and uploading the footage to YouTube. Anyway, I saw he was checking the price of bitcoin. I was quite taken aback as I reckoned the last time this chap had been involved in finance was when he was collecting the German equivalent of Sammy squirrel saving stamps.
He told me how he was going to get out of this "rat race", how he was now a crypto day trader, how his coins were going to moon and he was going to be driving a lambo. The idiot actually tried to mock Herr Bismarcks beamer as being below him.
It was at that moment I decided to immediately sell me bitcoin. I've outlined in my last post what I spent my modest profit on.
Needless to say, Torben, the slouched shouldered IT grunt still scrambles under my desk to fix the cables or whatever it is those IT gargoyles do for a living.
Oh no, Aongus!
Please tell me you haven't accidentally revealed your true self to be an uncouth, uneducated, lower class bogger!!!
Complete with bootcut jeans and red face!
I'm not surprised they are as common as a Dacia in Germany.
how many depreciating assets are you sitting on now, paintings, holiday homes, beemers,
I don't think you know what you're talking about when you claim that the value of gold "hasn't been recovering in any way" in the past five years. Between December 2015 and July 2016, the price of gold rose from $1,069 to $1,360, which is a 27% increase. Something that goes up 27% in seven months isn't "slowly trickling downward."
The price of gold was also higher in April 2018 than it was in September 2013.
The major correction in gold prices happened between September 2012 and July 2013. Not over the past five years.
Yet more news from the bizarre world of cryptocurrencies. The desperate Government of Papua New Guinea have decided to create a Special Economic Zone in the country/ This will be governed, managed and operated by a US crypto start-up. They will have the authority to issue passports, try people before courts, and basically operate as a semi-autonomous country.
The company is called Ledger Atlas, with the atlas being a nod to one of the unreadable works of libertarian oddball, Ayn Rand. The links between crypto and libertarian extremism are well documented.
I’m conflicted here. We should be appalled, if not surprised , that this is taking place. These repugnant and morally vacuous crypto vultures swooped in on Puerto Rico following the hurricane, and attempted to establish some sort of crypto haven for the criminals and chancers who made money during the bubble. Thankfully the people of PR have started to recognise that nothing good can come from having these creeps on their island. Venezuela is also overran with them. But it would be good for humanity if all these libertarians decided to move to PNG and operate their own little individualist John Galt style ‘paradise’.
In 2003, I started investing. In 2008, I needed somewhere to live, so I cashed in and my profits helped towards a deposit on an apartment. I suffered a bit with the fall in value of the apartment, but that was ok, I was living in it.
I started investing again on 2009. I needed a bigger place, and in 2016 cashed in and again the investing profits helped out with a deposit on a house.
Not sure how my experience of this millenium's markets ties in with your statement.
Im not sure how your post , ties into my statement...
Its gonna worth loads. I know which yacht I'm gonna be buying.
Bad news emerging in the world of crypto today. Proof of work just isn’t working. Morally repugnant as well.
What are you referring to?