Fuck it, going in £1000 on GME when the market opens
This is just such an iconic post - made on January 29th 2021, literally the very top of the GameStop market, as you can see from the chart below. Since then, shares are down more than 60% - that £1000 investment probably wouldn't get you a season ticket at the CBS next season now. Takes real skill to play the market this precisely.
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Despite the market dropping due to world issues my S&S ISA is now back up to £6009.27 and making 11.28%Now up to £5191.46 this morning and making 17.75% which is the highest it has ever been!
Dropped to about 11% the other week but you have to play the long game with this, and so far I think I'm winning!
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Now the house purchase is all sorted I’ve just opened up a stocks and shares ISA with Moneybox. Planning to keep it long term so gone for the adventurous fund. Let’s see what happens.
Too scared to look if i'm honest!!
was just about to mention Luna, classic pull of the rug but the dev?! It's like the wildwest. I'm heavy in big tech, which is worrying. Should be invested in companies that profit from war, what a lovely world we live in! Good luck mateGot no shares but got crypto. Crypto message boards are having to put up links to suicide help lines. People have lost everything on Luna.
I reckon your ganja ones will pay off long, long-term.was just about to mention Luna, classic pull of the rug but the dev?! It's like the wildwest. I'm heavy in big tech, which is worrying. Should be invested in companies that profit from war, what a lovely world we live in! Good luck mate
too many shorts involvedI reckon your ganja ones will pay off long, long-term.
What’s the best crypto to invest in at the moment? Is something like XRP worth looking at?
Anyone want to buy a dog?
You'll get a lot for your money at the moment.
Couldn't resist adding some more crypto to my wallet this morning at these prices.
Bought a load this morning! Its still involved in an ongoing court case with the SEC so it's a bit of a gamble but if it wins that it should go up in price.
IOTA currently has an ongoing airdrop so if you buy them and stake them in 5heir firefly wallet you get free shimmer tokens which are currently worthless but hopefully won't be in the future.
As someone with zero personal exposure to it, watching the entire crypto and NFT market start to crumble into the ocean is powerful entertainment.
Too scared to look if i'm honest!!
I just checked on the funds in my SIPP......wish I hadn't.
The worst of a bad bunch is my ethical fund.....I try & do the right thing by investing in a fund designed for responsible low-carbon green growth & ethical practice and it bascially shits all over me!
Meanwhile if I'd invested in guns, mining & general environmental destruction , I'd be quids in.
Still....Never mind....atleast I've got some Stellar & IOTA crypto......DOH!
If I airdrop enough IOTA into their firefly wallet, will I get enough shimmer tokens to one day exchange for slurp juice, or am I restricted to ape purchases for now?
Same with a lot of US shares though SBT (Check Netflix and Amazon for example), bubbles, especially in US, were created by money printing and markets are now being smashed. It’s painful for many normal people so probably not the time to gloat too much. This is how I see the order of events for what it’s worth:
Pandemic/money printing/war
Inflation
Interest rate rises/QT to try to combat inflation
Markets panic/drop
Reduction in consumer confidence and spending*
Fall off in growth*
Probable recession* - although hopefully more technical and not massive job losses as job markets are quite buoyant
Hopefully recovery
What’s happening at the moment isn’t just crypto related, it will impact most people unfortunately…although obviously some more than others !
*I just hope these help get inflation under control relatively quickly otherwise we are pretty fucked for a bit
While you’re not wrong, I was mainly referring to investment classes that never seemed to have any inherent value underpinning them. Amazon and Netflix may be taking a hammering, and they may well have been overvalued over the past few years, but at least they’re tangible businesses with a feasible path to profitability. I’m not sure you can say the same for stablecoins like Tether or ape NFTs. Or even meme stocks like GameStop.
For too long, too many people have tried to view the crypto/meme stock space as the world’s easiest casino, where all you had to do was show up and follow the crowds, and then just watch the profits roll in. I won’t gloat over the ordinary people who’ll lose a fortune chasing after those kinds of gains, who can ill afford to lose money at a time like this. But I don’t have any sympathy for the crypto cheerleaders who convinced vulnerable people to pile in because they’d convinced themselves they were geniuses who’d somehow hacked the entire global financial system. Turns out the line sometimes goes down as well as up.
Yeah, agree with a lot of that. Probably misread earlier post
There is something tangible behind a fair few the cryptos though and maybe I’m just a forever optimist, however, I see a number surviving and thriving in the medium/long term….which ones
Yeah, agree with a lot of that. Probably misread earlier post
There is something tangible behind a fair few the cryptos though and maybe I’m just a forever optimist, however, I see a number surviving and thriving in the medium/long term….which ones
I just can’t see it. BTC’s main benefit has always been untraceable transactions, money laundering, buying drugs, etc. As a legit payment method it’s too slow and expensive to move money around, it’s not going to threaten Visa any time soon.
All the others lack the brand recognition to be useful in a lot of places.
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