• The above Banner is a Sponsored Banner.

    Upgrade to Premium Membership to remove this Banner & All Google Ads. For full list of Premium Member benefits Click HERE.

MrGeorge

What would you buy next ?

Recommended Posts

So ive been on this forum a few months now and only been buying gold. Ive bought 12 oz in 4 months, so 3oz per month and will get another 3oz this month to take the total to 15oz. I have been thinking about getting into silver a few times over the last month or two since ive read a few people say its good to diversify but im just always put off by silver and other metals for one reason or another.

So thats got me to consider crypto currency and mainly bitcoin and ethereum also ive read January and February are quite bad times of the year for buying gold due to increased prices. So what better time to try something else. I am thinking maybe dump £6000 into crypto in January February then jump back into gold for the rest of the year.

Just wanted to ask what people would do if they was in my position? Would you jump into crypto stay with gold or even maybe get into silver ? I dont know anything really about crypto and to be honest i dont really want or need to know everything about it, if i do jump in i will take a gamble on £6000 if it does good great if it flops well its not the end of the world.

Share this post


Link to post
Share on other sites
1 hour ago, MrGeorge said:

So ive been on this forum a few months now and only been buying gold. Ive bought 12 oz in 4 months, so 3oz per month and will get another 3oz this month to take the total to 15oz. I have been thinking about getting into silver a few times over the last month or two since ive read a few people say its good to diversify but im just always put off by silver and other metals for one reason or another.

So thats got me to consider crypto currency and mainly bitcoin and ethereum also ive read January and February are quite bad times of the year for buying gold due to increased prices. So what better time to try something else. I am thinking maybe dump £6000 into crypto in January February then jump back into gold for the rest of the year.

Just wanted to ask what people would do if they was in my position? Would you jump into crypto stay with gold or even maybe get into silver ? I dont know anything really about crypto and to be honest i dont really want or need to know everything about it, if i do jump in i will take a gamble on £6000 if it does good great if it flops well its not the end of the world.

Do you know anything about crypto, or are you wanting to jump in because it seems the thing to do considering it's leap in price? Educate yourself if you don't know a lot about crypto, for now i'd stick with Gold and leave silver....Just my opinion

Screenshot 2017-12-03 03.06.21.png

Edited by shortstack68

Share this post


Link to post
Share on other sites
1 hour ago, MrGeorge said:

So ive been on this forum a few months now and only been buying gold. Ive bought 12 oz in 4 months, so 3oz per month and will get another 3oz this month to take the total to 15oz. I have been thinking about getting into silver a few times over the last month or two since ive read a few people say its good to diversify but im just always put off by silver and other metals for one reason or another.

So thats got me to consider crypto currency and mainly bitcoin and ethereum also ive read January and February are quite bad times of the year for buying gold due to increased prices. So what better time to try something else. I am thinking maybe dump £6000 into crypto in January February then jump back into gold for the rest of the year.

Just wanted to ask what people would do if they was in my position? Would you jump into crypto stay with gold or even maybe get into silver ? I dont know anything really about crypto and to be honest i dont really want or need to know everything about it, if i do jump in i will take a gamble on £6000 if it does good great if it flops well its not the end of the world.

Putting now your money in bitcoin can be very tricky. It made already some giant movements and i'm not to convinced it will do the same over the next coming months. Ofcourse it can be and then i'm the fool that said otherwise. Ethereum has more potential in this way. The price made a nice movement upwards, but still has some good potential. If you want to get into crypto's, also make sure to diversify. Don't put all in bitcoin or / and ethereum, but also check litecoin and others. You will find the current value of litecoin very interesting i think. Anyway, good luck! 

Share this post


Link to post
Share on other sites
1 hour ago, shortstack68 said:

Do you know anything about crypto, or are you wanting to jump in because it seems the thing to do considering it's leap in price? Educate yourself if you don't know a lot about crypto, for now i'd stick with Gold and leave silver....Just my opinion

Screenshot 2017-12-03 03.06.21.png

I know basically nothing about crypto and to be honest i am not really wanting to learn all about it. It that tech guy john macafee that got my interest seen hes been banging on about bitcoin for the last 18months on twitter and hes now saying he reckons bitcoin could get to a million dollars a coin by as soon as 2020 so i was thinking **** if it even does 10% of that i would be happy to have a piece of that. Also i know don’t believe what people say on the internet but im a grown man and happy to have a gamble and miss out on buying gold for two months. Just wanted to see what peoples general thoughts on crypto 

Share this post


Link to post
Share on other sites

if you gambled and lost all 2 months worth on crypto's that

would equate to losing 2/12 of your years investment. or

16.6%. at a return of ~9% per year nominal it would take

you almost 2 years to make that back. more if you count

inflation. I would say stick to what you know. know when to

buy and sell and if the time isn't right then wait.

opportunities come and go, mistakes stay with you.

 

HH

 

Share this post


Link to post
Share on other sites

Personally I think if you can afford to buy 3oz's of gold a month then it's worth just sticking 1 or 2 thousand into the crytpos instead, if you had put a thousand into Bitcoin even just 6 months ago you could be swapping it back out for 8 oz's of gold today.  People keep thinking Bitcoin can't go any bigger but listening to it's detractors it's been in a bubble since it was $50, since it was $100, $1000, $2000, $3,000........ you get the idea.  Only 1% of the global population own any Bitcoin so that's hardly bubble material to me, if that 1% becomes 2% or 3% then the price doubles or triples again.  a few months ago Coinbase was signing up 40,000 new accounts every day, now it's 100,000 per day and they are a hefty transaction fee exchange so who knows what the others are getting.  Bitcoin may well be a bubble but I think it has legs for a good long while yet.  Bitcoin just broke the $11,000 mark, a record high so plenty of people have been have been taking profit but the pull back only lasted a day such is the clamour to get into it.

 

Edit - just to add I think Litecoin is looking good as a safe longerm hold, it's slowly and steadily going up and the volatility that can cripple the others does not seem to be affecting Litecoin as much plus Charlie Lee has big plans for it and is working on privacy and atomic swap implementation which only makes it stronger.

Edited by Scuzzle

Share this post


Link to post
Share on other sites

The people that didn't get in are going to hate it until they are buying their weekly shopping with it. I wouldn't say get in right now because it's at all time highs sit your money on the sidelines until there is a significant pullback then use your money. 

I will say every answer you have to take with a pinch of salt because everyone is always looking for what is the best interest for there chosen investment. For example i seen a video of the fed chairman before Janet Yellen. He knew the economy was going south but 2 months before he said everything was great he later said that was because he had to say that or the economy would have tanked. 

You are on a silver and gold forum people on here are wanting their metals to moon. They will always back metals regardless if they've done nothing for how many years now? but there is always the bullish 2018 i guess. 

People always back what they themselves are invested into. If you were to go to a financial adviser they would mostly never suggest a large stockpile of metals as it returns no dividend. 

I invest in both crypto and metal just so you know. 

My metal has seen no gain apart from in the numismatic market. Tho most will not sell on here for good prices and Ebay will take high fees. 

Many people on here work hard for 1oz of gold, i bought my first ounce after 5 days of ethereum booming while sitting watching it. 

Id say if you have enough in metal to cover you and you have some money do it. The worst that will happen is an investment didn't work out and everyone will say told you so. but technically none of these gold and silver investments are currently working out either. 

A lot say they don't understand why bitcoin is going up rapidly in dollar terms. I think if you look at it this way. Everyday dollars are being printed rapidly so bitcoin and dollar can not stay level. Everytime more dollars are printed its easier to get them and more available. This makes bitcoin rise as it is still max 21 million. 

Right now it is not the most user friendly so watch youtube videos to make sure you don't buy and send your money to the wrong wallets etc. 

I only own bitcoin, ethereum and litecoin. 

I would also look into EOS, Dash and monero. 

I also mine Bitcoin. If youd like to know more about that then look into Nicehash. 

 

Share this post


Link to post
Share on other sites
1 minute ago, shortstack68 said:

Screenshot 2017-12-03 03.06.40.png

Screenshot 2017-12-03 03.08.47.png

If you waited for every investment to stand the weight of time youd of never made money in anything. Even stocks. I think if this is your outlook take the tinfoil hat and camp out in the moutains with the metal.

Share this post


Link to post
Share on other sites
Just now, JCRJM said:

If you waited for every investment to stand the weight of time youd of never made money in anything. Even stocks. I think if this is your outlook take the tinfoil hat and camp out in the moutains with the metal.

I don't need to camp outside with a tin hat, i fall asleep each night with my metal directly under my bed where i sleep well at night. I'm not discouraging anyone wanting to try and make money through bitcoin, but any gamble is a risk, if you don't know how the whole thing works then educate before pumping money into it, that's all i said.

If you have money to lose then fine, it could work, but it might not...........I'm saying that people should work out how it all works first before blindly throwing money into it

Share this post


Link to post
Share on other sites
Just now, shortstack68 said:

I don't need to camp outside with a tin hat, i fall asleep each night with my metal directly under my bed where i sleep well at night. I'm not discouraging anyone wanting to try and make money through bitcoin, but any gamble is a risk, if you don't know how the whole thing works then educate before pumping money into it, that's all i said.

If you have money to lose then fine, it could work, but it might not...........I'm saying that people should work out how it all works first before blindly throwing money into it

Yes you are right.

if you don't know anything i wouldnt invest either because the days of easy money will run out.

however even if you had bought a bitcoin this morning you could almost now afford an ounce of gold from profits. Up 750 since i woke up.

the higher the price gets as well big swings will account for smaller percentages.

Share this post


Link to post
Share on other sites
1 minute ago, MrGeorge said:

Right ive decided im having a bash at this tonight starting off with bitcoin made a account with etoro what wallet do people use i am a bit confused by this bit ?

I would download an Exodus wallet onto your computer.

Write down your password and the 12 word phrase and don't lose it. 

Also coinbase might be easier for you to use than etoro id look at both ive never used etoro

Edited by JCRJM

Share this post


Link to post
Share on other sites

As you can literally keep 15 ounces of gold in a trouser pocket I would continue to buy gold coins or get some silver just for the fun of seeing more metal on your dining room table.
If you already had a few kilos of gold then diversifying into something totally different might make sense.

You could buy an oil lamp from an antique shop and hope that a genie would pop out after giving it a rub.
Before you either laugh or say what has this got to do with the question - it carries about as much credibility as asking where the next certain best investment is - if only we knew !!

:lol::lol:

Share this post


Link to post
Share on other sites
4 hours ago, MrGeorge said:

Right ive decided im having a bash at this tonight starting off with bitcoin made a account with etoro what wallet do people use i am a bit confused by this bit ?

Blockchain is supposed to be more secure than Coinbase..

Share this post


Link to post
Share on other sites

I'd start watching as many Youtube videos on the subject of Bitcoin as I could for a few weeks solid, you don't want a large amount in the exchanges you only move it back onto them when you want to sell, hard wallet in your own posession at all other times.

Share this post


Link to post
Share on other sites
14 minutes ago, MrGeorge said:

What is the best wallet to use bought $200 dollars tonight just to figure it out but probably going to try and get a full bitcoin soon 

I use exodus. It is secure and holds many different crypto currencies. 

Share this post


Link to post
Share on other sites
6 hours ago, MrGeorge said:

What is the best wallet to use bought $200 dollars tonight just to figure it out but probably going to try and get a full bitcoin soon 

https://www.ledgerwallet.com/

 

you always want to keep your coins offline. That way they can’t be lost. If you leave them online and that site gets hacked you just lost everything. And if you get a ledger buy it directly. Don’t get it on amazon

Edited by jmichael99

Share this post


Link to post
Share on other sites
8 hours ago, MrGeorge said:

What is the best wallet to use bought $200 dollars tonight just to figure it out but probably going to try and get a full bitcoin soon 

Gone from $6000 to in a couple of months to $11000 now?   :lol:

I would say the advise "only invest what you can afford to lose" is most relevant to crypto.  They could go on another ride x10 this coming year, or crash to hundreds of $.  There's no fundamentals behind anything, its all just speculation of what they could be in the future.  I looked at buying one of the alt coins this weekend, after three attempts to get the wallet to work it took 8 hours to download the blockchain (with CPU at around 30-40 the whole time), and when I start up the app it doesn't resync.  Now I don't trust it and will instead make my purchase on an exchange.  This is project valued at $300m and their basic software doesn't work as expected. 

That said the software for Bitcoin is good, Exodus is good as it allows you get on a few other coins.  For wider investment than Bitcoin and Ethereum look at the exchanges.  Though you'll have to do full ID for a couple of the big ones. 

If you want to get on the hype train don't rush because the hype will still be there next week (or its crashed).  Also, first thing after a Bitcoin investment to look at is not the hundreds of altcoins but the dozens of ICO.  Higher risks but many barely-viable projects (imo) are doing 10x + on launch.  

Edited by Martlet

Share this post


Link to post
Share on other sites

Yea i get only spend what you can afford to lose. The way im seeing it im going to get a full bitcoin this week its $11k if i lose it all it will just annoy me more than anything it wont have any impact on my family but if it does take off it could seriously impact my family for the better. Also my father in law is a right glass half empty type of guy and was hell bent on talking me out of it last night lol so im buying one just to piss him off :)

Share this post


Link to post
Share on other sites
4 hours ago, MrGeorge said:

Also my father in law is a right glass half empty type of guy and was hell bent on talking me out of it last night lol so im buying one just to piss him off :)

Best investment reasoning I've seen on this forum. 

Best of luck. Like you said, it's money you don't mind losing. 

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now