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Thread: Black Monday

  1. #7841
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    Quote Originally Posted by clip View Post
    Old people dont understand and won't buy bitcoin, it's not super complicated but it's not easy to do, or to sell again later when you need cash. Imo
    What about the spreads... just exorbitant. Agree, people over 60 (those with the wealth) will generally not go down that route.

  2. #7842
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    Quote Originally Posted by clip View Post
    Old people dont understand and won't buy bitcoin, it's not super complicated but it's not easy to do, or to sell again later when you need cash. Imo
    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
    one step ahead of the herd

  3. #7843
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    Bitcoin is a SCAM - for fools, shysters and traders.

  4. #7844
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    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.

  5. #7845
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    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.

  6. #7846
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    Quote Originally Posted by Lewylewylewy View Post
    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.
    I have missed why we are even talking about bitcoin - how does it help anything?

  7. #7847
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    Quote Originally Posted by dobby41 View Post
    I have missed why we are even talking about bitcoin - how does it help anything?
    The Bitcoin scam artists &/or traders will take every opportunity to promote their scam. That's why.

  8. #7848
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    Quote Originally Posted by Balance View Post
    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.
    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 :
    ----
    "Prediction is very difficult, especially about the future" (Niels Bohr)

  9. #7849
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    Quote Originally Posted by Balance View Post
    The Bitcoin scam artists &/or traders will take every opportunity to promote their scam. That's why.
    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.
    Last edited by Entrep; 29-05-2020 at 08:34 AM.

  10. #7850
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    Quote Originally Posted by Entrep View Post
    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.
    Probaly best in the crypto thread.

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