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 Badger11  Beckenham 18 Jun 22 12.25pm |
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Originally posted by Stirlingsays
Gambling shouldn't be promoted? That's more socially conservative than I thought you were Badger. Actually your are correct. I think it is wrong that gambling adverts are on before the 9pm watershed and sport should not be linked to it. The older I get the more conservative I become and yes I do gamble so maybe that makes me a hypocrite, however too lives are damaged by irresponsible firms.
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| Stirlingsays 18 Jun 22 12.35pm |
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Originally posted by Badger11
Actually your are correct. I think it is wrong that gambling adverts are on before the 9pm watershed and sport should not be linked to it. The older I get the more conservative I become and yes I do gamble so maybe that makes me a hypocrite, however too lives are damaged by irresponsible firms. You are probably right. Hard balance to strike between the freedom to invest and the fact that the financial sector has so many sharks in it. I think the advice to never invest what you can't afford to lose is a good one but we all know that the temptation is always there and humans naturally tend to the optimistic. Most gambling loses are by set up, a design....insider information being the illegal, unethical but successful key. Yep, I could go with your suggestion....some reduction in gambling would reduce a fair amount of misery in the world. I don't think it's an accident that Blair was the 'dark lord' who green lit gambling to its current huge status.....though to be fair I think crypto has genuine libertarian origins that since have become twisted by darker interests. Edited by Stirlingsays (18 Jun 2022 9.16pm)
'Who are you and how did you get in here? I'm a locksmith. And, I'm a locksmith.' (Leslie Nielsen) |
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 SW19 CPFC Addiscombe West 18 Jun 22 3.20pm |
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Originally posted by Stirlingsays
Gambling shouldn't be promoted? That's more socially conservative than I thought you were Badger. I don't think it's harsh at all. If people want to disregard logic and reason to follow some hack advice on Youtube then it's on them for being so naive. And a reminder – I say all this as someone that holds various types of fools gold. Difference is I know a substantial amount of the detail and the dross surrounding this nonsense. Also, it is very different from gambling. Gambling is regulated.
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| SW19 CPFC Addiscombe West 18 Jun 22 3.26pm |
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Originally posted by Stirlingsays
This is very harsh. A lot of people have made good money from crypto. It's very easy to criticise people but this is their money not yours and if they want to gamble with their money what's the beef? Also – I'd contest 'a lot'. I suppose it depends on your definition of 'good money' but assuming 'life changing' – A very small percentage of people have done this. As always with a bigger fools enterprise, the earlier you got in, the better. Latecomers face massive risks and significant losses. The other thing I hear is 'oh it's fine, it's the same as the stock market' – it's really not, for so many reasons. Although there perhaps is some truth in it considering the party line of 'it's the new gold' has been shown to be (unsurprisingly) complete nonsense as value is falling in step with the stock market. At one time I felt that crypto 'currencies' were utter bollocks and the blockchain was where the real value lies... I'm now more learned – blockchain is useful but only in very specific edge use cases. And don't get me started on NFTs Plus... The beef is the majority of people investing in this hokum are massively naive and have no idea what they're getting into, being preyed upon by early adopters whose only interest is to get as many people buying in to maintain or pump the price, all under the guise of a decentralised financial utopia. Remind you of anything from around 1998? I feel sorry for them but ultimately if you don't research what you're putting thousands into on a whim, you deserve what you get. Edited by SW19 CPFC (18 Jun 2022 3.26pm) Edited by SW19 CPFC (18 Jun 2022 3.29pm)
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| Stirlingsays 18 Jun 22 3.41pm |
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Originally posted by SW19 CPFC
Also – I'd contest 'a lot'. I suppose it depends on your definition of 'good money' but assuming 'life changing' – A very small percentage of people have done this. As always with a bigger fools enterprise, the earlier you got in, the better. Latecomers face massive risks and significant losses. The other thing I hear is 'oh it's fine, it's the same as the stock market' – it's really not, for so many reasons. Although there perhaps is some truth in it considering the party line of 'it's the new gold' has been shown to be (unsurprisingly) complete nonsense as value is falling in step with the stock market. At one time I felt that crypto 'currencies' were utter bollocks and the blockchain was where the real value lies... I'm now more learned – blockchain is useful but only in very specific edge use cases. And don't get me started on NFTs Plus... The beef is the majority of people investing in this hokum are massively naive and have no idea what they're getting into, being preyed upon by early adopters whose only interest is to get as many people buying in to maintain or pump the price, all under the guise of a decentralised financial utopia. Remind you of anything from around 1998? I feel sorry for them but ultimately if you don't research what you're putting thousands into on a whim, you deserve what you get. Edited by SW19 CPFC (18 Jun 2022 3.26pm) Edited by SW19 CPFC (18 Jun 2022 3.29pm) Fair enough.....I'm just personally less judgmental in what decisions people make with their investments, though I'm certainly judgmental in other areas....so fair enough. Personally I regard anything people can win or lose money on is a form of gambling....regulation doesn't stop people it just requires them to find other ways around. I think as a store of value the technology has several advantages.....however, the system is manipulated precisely because its improvements are a danger to this busted flush of a system. Edited by Stirlingsays (18 Jun 2022 3.46pm)
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| SW19 CPFC Addiscombe West 10 Nov 22 3.46pm |
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I see FTX has collapsed. “The lack of regulatory oversight and the sector’s overall opacity facilitate risky financial strategies, exposing firms to an environment in which rumors of illiquidity can become self-fulfilling prophecies.” Snake oil salesmen, the lot of them
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| martin2412 Living The Dream 15 Feb 23 2.52pm |
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Originally posted by SW19 CPFC
I see FTX has collapsed. “The lack of regulatory oversight and the sector’s overall opacity facilitate risky financial strategies, exposing firms to an environment in which rumors of illiquidity can become self-fulfilling prophecies.” Snake oil salesmen, the lot of them Firstly let me say that I know more about brain surgery and rocket science than I do crypto currency, but I accidentally stumbled across the value of bitcoin yesterday and saw that it has plummeted dramatically along with all crypto. Have I dodged a bullet in being ignorant of how it works ?
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| Badger11 Beckenham 15 Feb 23 3.23pm |
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Originally posted by SW19 CPFC
I see FTX has collapsed. “The lack of regulatory oversight and the sector’s overall opacity facilitate risky financial strategies, exposing firms to an environment in which rumors of illiquidity can become self-fulfilling prophecies.” Snake oil salesmen, the lot of them Liquidity has been one of my concerns, how quickly can you convert your crypto currency into Sterling. That and the obvious criminal elements and me not understanding it have kept me away from it.
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