What about the spreads... just exorbitant. Agree, people over 60 (those with the wealth) will generally not go down that route.
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probably not buy bitcoin i would imagine most old people just keep there money in the bank at zero % for security reasons as has happened overseas. even ANZ say this will happen and the RBNZ so thats why they can take deposits down to zero wont be a wholesale run of cash out of banks
Bitcoin is a SCAM - for fools, shysters and traders.
https://www.goodreturns.co.nz/articl...ecoveries.html
For those who need some reassurance that the markets will recover - not a matter of if but when.
Interesting that each market crash had been followed by new market highs - even while the doomsday merchants pronounced each successive crash as unrecoverable.
In terms of making transactions and simply holding (sorry hodling) I think that bitcoin is exceptionally complicated and risky for the average person.
When you consider the level of IT literacy and computer security of the average person, I would say that even if most people could buy bitcoin, they shouldn't.
Absolutely ... long term markets always recovered. Individual industries and companies however might not. It might be currently as well more appropriate to remind people that markets don't always go upwards, particularly if the economic environment looks really bad, and that there is some correlation between earnings and share prices.
Given that company earnings got slashed for many industries and will be down for many months to come (Tourism, travel, hospitality, retail, banking, construction, real estate) is it unlikely that share prices in these areas will stay high forever. So - yes, ultimately markets will recover, but it might be appropriate to remind people to mind the gap ahead of us prior to the start of the next uptrend :):
Because mentioning it on ST is going to move the market. LOL
Most of you haven't been to the Crypto thread here, so I'll enlighten you. Balance or his or her friend got ripped off trying to buy Bitcoin and now he or she has an extremely irrational stance on it.
BITCOIN IS NOT A SCAM
Edit - not saying this applies to Balance, but most every sophisticated equity market participant (analysts, traders, etc) that I have talked to over the years has an unreasonably negative view on BTC, without bothering to try and understand it or why it exists. It borders on some sort of contempt that they missed the gains, or that others could make money without them getting a cut/without their assistance or advice. Take from that what you will.