Should UK Investors Buy Bitcoin?

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[@StephanieHenderson-]

I usually look up your videos for updates! Our government has no idea how people are suffering these days. I feel for people with disabilities not getting the help they deserve.

[@GregoryGraham-]

Crypto Bull run is making waves everywhere and I have no idea on how it works. What is the best step to get started please?

[@AnitaRays]

Wow, that's more than a mouthful of profits you're making. How do you achieve this feat consistently? You must be a genius in trading.

[@StephanieHenderson-]

Have you not heard of Mrs. Lauren Hopkins?

[@StephanieHenderson-]

She has this skill of making complex crypto concepts easy to understand and is truly commendable.

[@RosaMariadelosSantos-]

You know her too? I'm also a proud beneficiary of her superb platform.

[@miloszkrajewski8240]

I really do not understand mechanics of this. Bitcoin is not a currency as currency needs some stability, also single transaction cost is quite high (let's say ~$50 per transaction) and will get higher by design. It is very wasteful in term of energy. Not a currency. Maybe asset then? But asset with no intrinsic value. Gold has some physical utility in the end, let's say fancy doorstop, but bitcoin is just hot air (literally). Don't get me wrong, I do see the price, and I wish I could go back in time and buy some for speculation, but I still fail to see value of it.

[@limpep]

The Bitcoin Standard book will answer all your questions

[@pictlandpickers1171]

It's a token paper money has no value just we've all agreed on it value and someone else can print more with out needing to add value. Bitcoin is limited on number. It beats inflation

[@miloszkrajewski8240]

TL;DR: the "we've all agreed on it value" is of slightly different nature. Paper money one has legal implications while bitcoin one is very wish-based. Yes, legal system go down, societies may collapse, etc but saying "the same" is false equivalency. Paper money has value because it is guaranteed by government issuing it, it is guaranteed that it will be accepted by this government when you pay for their services (infrastructure, roads, schools, healthcare) or pay for your obligations (taxes, mostly taxes). That's the promise and fundamental value of money. Yes, some governments fail and that's where paper money lose it's value completely. Yet, as long as those public services are useful and for not paying taxes you can be sent to prison (which you probably should try to avoid) this paper money will have value (call it "value of not being in prison"). There is no such guarantee behind bitcoin.

[@relievo6559]

Same. What I want to know is, where does the real money go when you buy this imaginary currency/asset. Who holds it?

[@miloszkrajewski8240]

@@relievo6559 This I can tell you. For someone to buy, there must be someone to sell. So, money from buyer goes to seller, bitcoins are not pulled out of thin air (with caveats - I mean there is some slow drip of new coins mined, but not significant). It is a scarce resource. AFAIU so far it is artificially scarce, with no intrinsic value, but still scarce.

[@hustlinhitch]

Thank you so much for making this video, Toby.

[@nickedwards6748]

Good intro, sensible and measured. The kind of video you could share. Good work

[@TobyNewbatt]

Glad you liked it!

[@bertwilliam1348]

Great video Toby Good to have some uk voices heard about btc Thanks again

[@TobyNewbatt]

No problem 👍

[@__Rum-Ham__]

Great video Toby. Do you buy directly from Bitcoin or use another platform like coinbase?

[@87vortex87]

I have a thought on this. First, I've studied financial instruments for my masters degree, so I have the theoretical knowledge of financial products. Also, I've been investing since I'm 12yo, and wrote two books on investing when I was 13yo. So I think I know a thing or two about investing. Which is 25 years by now. My feeling about crypto is: it is not what it was supposed to be: an alternative currency because of its instability. Instead, it's more equivalent to gold, with no immediate intrinsic value but the value we assign to it. That being said, should you threat it as gold, and does it deserve a place in your portfolio? Well, since it has no intrinsic value, there has to be some other quality in it, which makes it worth considering. It's certainly not a stable asset, so that's no argument. But, there is an argument to hold no more than 1%, for now at least. And that is that it has no (for now) correlation with other asset classes. This means that, while crypto is not stable at all, it could act as a stabilization asset when added to your portfolio in extremely limited amount. Which crypto then? Well, only Bitcoin for now I would say. There is a big risk though. And the risk is that, if the current absence of correlation disappears, in other words: crypto matures and starts correlating with other asset classes, the argument to hold crypto disappears aswell and the opportunity cost becomes a real factor to just sell all crypto and invest in the traditional asset classes again. So my two cents: be careful!

[@juliat50]

Over thinking it. Just look at the charts.

[@87vortex87]

@@juliat50 no, I'm not over thinking it. You're under thinking it, because as i explained, it has no intrinsic value. So what you see on the chart has no value from an investment perspective. That's exactly what I've stated.

[@Nova2Yung]

Thank you , clear explanation

[@george6977]

Bitcoin's intrinsic 'value' is as a speculative instrument, provided there are bigger fools.

[@karolheinaru1360]

Bitcoin is scarce, unlike fiat. That's Bitcoin's value.

[@SuperDavidstevenson]

Great video Toby. Ive dipped my toes in crypto when i played sorare a few years ago. I didnt fully understand it all at the time so i cashed out making a small profit. Great info on storing bitcoin. If i get some ill use that info. Thank you

[@CB-fz3li]

Managed to buy some in January, despite the best efforts of my bank. Unfortunately the bank blocking transfers prevented me buying the total I wanted.

[@DrJohnners]

Very easy to send cash to exchanges (Binance/Coinbase) via Revolut/Monzo in the UK. Santander shut those routes for me.

[@kimboston1609]

Finally! Have been wondering when you were going to cover Bitcoin. Thanks Toby, great video.

[@TobyNewbatt]

Hope you enjoyed it!

[@NuttyNatt]

So I've looked on Ebay and there are some on there going for £2-3 but saying souvenir or novelty coin so im thinking these are not real and not worth anything? Its all a bit double dutch to me....

[@TobyNewbatt]

Ignore me it was a joke - the coin I have is just a prop, Bitcoin is digital - all of my holdings are in a digital wallet :)

[@evan]

Managed to save up a deposit for my first place thanks to selling some BTC :) well that and Eth and link

[@ploppy193]

Very interesting and helpful.

[@ianchinsor9248]

I understand it but really don’t understand it. It’s not used as a currency to buy stuff (not wide spread anyway). As a holding to protect against inflation? Well yeah that kind of makes sense but it can be pretty volatile. If Inflation is skyrocketing and you stick your savings into crypto, what’s to say that couldn’t tank before you piled your money out? Big risk for your average Joe. It seems to exist only as a money making tool, investment that has the value the investors have put on it. It’s skyrocketing right now but so it was a couple of years ago, just before it tanked in very short time. Maybe it will prove to be similar to wider markets, rises and falls but ultimately rises will continue on the up. But with no real physical use and a value deemed only by numbers buying in, along with ridiculous energy consumption to ‘mine’ I don’t think it’s for me. I’m probably wrong but I don’t think it will last. When I can get it in an ISA I’ll stick some in (fraction of one anyway haha)

[@novinfard]

On downside you talked mostly about Alt-coin, but how about Bitcoin itself? It’d be great if we have your view on that

[@kelle_li]

I don't any crypto yet, but if I were to, I was thinking of buying some on PayPal's platform. A trusted and reputable platform no? What would be the downside to buying on there?

[@mattb4266]

Their good I have used them, they actually hold the crypto for you so no need to worry about storing , buying and selling is easy and the commission either way is very reasonable , very good option if totallly new to crypto , if you want to be abit brave you can buy from the biggest exchanges Coinbase or Binance but theirs a little more to understand if wanting to take your crypto of the platform and store in a ledger device, plenty KZbin videos how to buy for apsolute ease PayPal is a great starting point

[@philippowell8273]

Starting buying small amounts back in January and seen a 33% increase in my Coinbase Wallet. If only I could time travel…

[@MATIvmr]

BTC ETNs when they come to UK they will be great in ISAs. Tax free gains, no more than 3-5% of overall portfolio, great stuff. Can’t wait honestly, don’t be greedy and stupid, you’ll be fine

[@TobyNewbatt]

Will be a good step to have some UCITS ETFs that we can buy - seems a no brainer to at least have it regulated.

[@Nova2Yung]

Yep this will never stop me from consistently going all in on index funds getting 8% return yearly, im fine without bitcoin in my portfolio thanks, charlie munger called it rat poison squared once 🤣

[@tyeng1295]

Buffet and Munger were in the business of wealth protection and always said they’d never invest in something they didn’t understand It’s okay to not know what you’re talking about

[@Nova2Yung]

@@tyeng1295 like as if you know what you’re talking about, good luck buying thin air 🤡

[@Nova2Yung]

Im more than happy with my index funds thank you very much,

[@tyeng1295]

@@Nova2Yung No problem. Enjoy your ‘barely above inflation’ gains. Not everyone cares about being rich

[@Nova2Yung]

@@tyeng1295 good luck being pumped and dumped 😂😂😂😂

[@david-fletcher]

I remember back in early to late 2000’s running the Meresenne prime number software to benchtest overclocked AMD’s ….I should have really been mining BTC …Doh

[@lrbrugby]

Not too late on the mining front. Look at Ergo, Kadena, Doge, Ravencoin, Kaspa, Nervos etc. Plenty of potential options for proof of work coins out there. Dash, ZCash, Monero. Some of these are ASIC resistant. If you have the expertise and hardware to do it, it could be lucrative.

[@phamson7733]

How I can buy bitcoin I need help pleases

[@stewillo86]

I've still got no idea what it is or the point of it. 😂 I'll stick to what I know.

[@Ratgibbon]

Im not a crypto expert, but as far as I know Bitcoin can be broken up to Satoshis, which are a 100 millionth of a Bitcoin. That's 2.1 quadrillion Satoshis. It's estimated there's around 2.2 trillion USD in circulation today. So, is Bitcoin really as limited as it made out to be if it can be broken up to 2.1 quadrillion pieces?

[@TobyNewbatt]

So this missed the point a little. Sure they can be broken down into smaller units which is great! But the supply still remains 21m coins in total. If the demand remains the same, or increases into a supply that is limited the price goes up. Imagine saying that is a pound really worth £1 if it can be broken up into 100 pennies?

[@ChrisShawUK]

My bitcoin holding are 0% of my portfolio. Investing success is measured on outcomes over decades. We won't know for a long time who the successful bitcoin investors are. That rig is cool though ... How many did you manage to mine before switching off?

[@TobyNewbatt]

:P I think I managed to mine 0.35-0.50 or something I had 2 rigs going at the peak. I sadly didn't hold on to it until today...but hey ho it was fun to learn it all!

[@UncleRuckus_96]

I'm definitely Open to Bitcoin once Its accepted Especially the ETN

[@markfindlay8636]

I'm tenth of a bit coin holder, but more optimistic with solana and etherium. 😊

[@TobyNewbatt]

lets see where things end up :)

[@boyasaka]

I would have bought etheruim last year when it dropped to 1000 but was unsure how /.where to

[@quokkapirquish6825]

Open a Revolut account- you can buy bitcoin or whatever there

[@BeardLAD]

Where can you download the ledger? Ta

[@mattb4266]

It’s a device you buy to store crypto on, careful where you buy it from as if you buy from eBay someone could have private keys to hack you, buy from curry’s or somewhere reputable or from the ledger website it’s self then you’ll be safe

[@valerienewbatt9678]

Great video Toby, as always

[@TobyNewbatt]

wee vallll!

[@DeckTested]

I bought in at $24K and sold half at $60K, will probably hold onto the rest considering I secured my capital and see what happens over the next decade.

[@paulevans1139]

Hi Toby, good video 👍🏻 could you do a video on how you transfer bitcoin from coinbase to your ledger wallet??👍🏻👌🏻

[@TobyNewbatt]

maybe a future one! Honestly its so easy though. it's like any Bitcoin transfer, you grab your ledger wallet address, and then send from your Coinbase or wherever and start the transaction.

[@paulevans1139]

OK thanks for the reply 👍🏻

[@KeldorTheWhite]

If personally still like to see it done. Especially using just a phone and a hardware wallet. Great video a always

[@meditationbeyond3732]

Amazing video, your BEST EVER, you nailed it, more people need to know Bitcoin NOT Crypto

[@timg1246]

Bitcoin us crypto. Not sure what you are trying to say.

[@miloszkrajewski8240]

Bitcoins is very crypto. Although, some other crypto(currencies) were not.

[@meditationbeyond3732]

Basically there is Bitcoin and Alt Coins, everything else, Bitcoin is the only REAL Crypto currency, everything else is a scam, everything else is centralised and not DE-Centralised.@@timg1246

[@be583]

Excellent

[@ba8898]

It's that plastic USB thing and the piece of paper with the long passcode that puts a lot of people off, I think (I'd personally feel much calmer keeping it in the Coinbase vault, though I know that carries risks, too). This is part of the reason why the ETFs are such a big deal.

[@TomsPersonalFinance]

Yeah not sure I like the idea of thousands of pounds sitting on a USB stick.

[@ba8898]

@@TomsPersonalFinanceyep, it feels quite backward. Ironic, given that crypto is meant to be the future. I've heard that some store their usb thing and password in a safe somewhere, which all sounds quite primitive in an age when our money and investments are increasingly secured digitally.

[@Nova2Yung]

@@TomsPersonalFinance fact, i'd have to be on a couple stellas to think about doing this...

[@TobyNewbatt]

Just to clarify I think theres a lot of confusion here - nothing sits on the USB stick...if you lose that you can recover your wallet fine. But just be aware if you buy crypto on any platform it is not in your control :). It's worth reading up on this. Exactly the same can be said about how your money is kept safe in a bank - ultimately its not kept in cash so who protects the digits on the screen? An enormous amount of technology and complex processes ensure it remains in check (and lots of backwards stuff too and decade old tech). Please dont spread FUD :)

[@TomsPersonalFinance]

@TobyNewbatt Hi Toby. I didn't mean to soread any FUD here. The impression I got from your video is that if you lose the USB stick and the recovery key then it is gone forever. Apologies if that has been misunderstood!

[@ronyriendeau-xx2bb]

What would be a good book if we want to learn more about crypto?

[@andrewbird3519]

Everything divided by 21 million is a good bitcoin book.

[@powderpofgirls]

What happens if hardware wallet stops working?

[@TobyNewbatt]

you get a new one and you recover the wallet with the keys that you write down/ print/ upload and keep safe somewhere. Nice and easy, you don't have to stress out about the hardware piece.

[@andrewstead9375]

Excellent 👌

[@TobyNewbatt]

Thank you! Cheers!

[@trancekingpj]

I disagree about the comments regarding regulation. The FCA and many other nations (I count the EU as a singe entity) have introduced Virtual Asset Services Providers rules and there are exchanges which have followed AML / KYC rules, both here in the UK and abroad, that can enable authorities to better track fraudulent activities. The three businesses you mention have made sure to be the most regulated and so, whilst yes they're not covered under the FCMS insurance, they are certainly more reputable than others. Not sure how long ago you recorded this but MSTR is now big enough to be accepted into the S&P500, they're waiting on the next update where companies are shunted in or out.

[@eunicef1]

I own zero as I don't trust myself to be able to sell it when I ought to.

[@Riley-Thurm]

Never sell

[@davidbumpstead9833]

If Bitcoin relies on miners to confirm transactions, and miners are rewarded for their work with new Bitcoin. When Bitcoin supply maxes out, where is the incentive to continue mining? So does this mean that when 21mil Bitcoin has been mined, the "asset" will become worthless as it can no longer be traded? 😅

[@TobyNewbatt]

Nope that’s already been accounted for. Once the mining has been done the miners will get transaction fees instead 👍. Works out very nicely!

[@davidbumpstead9833]

@@TobyNewbatt thank you for explaining.

[@michaelclarkson1213]

plus, all 21 million bitcoins wont be fully mined until 2140.

[@stephenhogg6154]

Ummm ... That’s a real bitcoin you bought from ebay right? What's the difference between that and the ones that are currently on sale for £2.50?

[@TobyNewbatt]

100% genuine Bitcoin right... :P I have no idea if my sarcasm came across correctly or not.

[@stephenhogg6154]

@@TobyNewbatt It's my naivety. I believed you! I'm a newby trying to learn fast.

[@1292liam]

hard to buy bitcoin these days. Almost all UK banks, will block, or not allow, a transfer of money to any crypto exchange site

[@TobyNewbatt]

I havent bought any in a while, it is really that hard now?

[@juliat50]

Not true at all. No problems with HSBC.

[@gregm9447]

I had so speak to someone in person before my U.K. bank would allow me to add funds to my coinbase account and coinbase requires U.K. users to compete a test before buying crypto.

[@kevf4537]

Kraken is bank friendly. If not get a Monza or revolut account

[@gadagaz]

Many platforms don't give you an option to buy it now. Binance don't, Luno don't and you can only view the stats in T212 - like anyone would use the app for that 😂

[@quokkapirquish6825]

If there is to be crypto ETF then it will be spread over a number of crypto currencies, right? You couldn’t just have a bitcoin ETF could you? I’ve invested a modest amount in Etherium and it has risen sharply this last month. It’s like investing on amphetamines, 3% rise or fall in a day is normal. If the ETF is approved it will legitimise crypto currencies and the prices are likely to double so it’s worth a punt I’d say

[@TobyNewbatt]

I'd only ever want a Bitcoin spot ETF, i dont want a mix of assets that are worthless. The ones in the US are Bitcoin only. For sure this is not something to go all in on. It doesnt change any of my other investing :)

[@AbstractType1]

I think your being a bit flippant at 8:40 regarding AML & KYC. People can go to prison or banks can lose their licence.

[@TobyNewbatt]

Huh? Banks continue to be massive centres for laundering money all over the world and they are all regulated?

[@AbstractType1]

@@TobyNewbatt which banks get away with laundering money? I know CEs like FTX and Binance tried but have (mostly) been reprimanded.

[@TobyNewbatt]

@@AbstractType1 HSBC was one of the biggest banks that was processing cartel money (link below as they got caught). You cant surely suggest that banks don't launder money? Whether they do it knowingly or not is neither here nor there. We aren't just talking about the UK here either. www.investopedia.com/stock-analysis/2013/investing-news-for-jan-29-hsbcs-money-laundering-scandal-hbc-scbff-ing-cs-rbs0129.aspx

[@AbstractType1]

I said you were being flippant in your comment that banks are just large money laundering organisations. They are regulated and HSBC plus others were fined. I know they do it, but it's a poor argument as crypto exchanges weren't regulated at all. Just a poor phrasing.

[@mhoward181]

Simple answer….. If you don’t understand it then just don’t buy it. There’s Plenty of other things that make sense to invest in. You will always find that 1 person on 0:01 line that says look what I made this is amazing. Invest in this.

[@TobyNewbatt]

Indeed, usual rules apply. Please don't go all in on anything or base a decision on FOMO :)

[@crypto-couch]

I'm on etoro do I need a wallet or is my bitcoin safe?

[@TobyNewbatt]

it's on their platform at the end of the day so I'm sure it's fine but you should read into what happens when you buy some.

[@crypto-couch]

@@TobyNewbatt if you put your bitcoin in a wallet does that mean you've taken your bitcoin out of the market? (it's no longer making or losing money?)

[@TobyNewbatt]

@@crypto-couch No there's no 'market' as such it doesn't work like that. Bitcoins value is not determined whether its on the exchange or not. In fact most Bitcoin is not held on exchanges around the world.

[@crypto-couch]

@@TobyNewbatt makes sense thanks

[@liamgallagher6009]

Great video and really informative for those still so unaware. I'm completely flabbergasted by some of the comments, I can't believe how anti Bitcoin/cryptocurrency some folk are 😅

[@clarenceishmael9615]

Very useful vid! Wouldn't touch it with a bargepole! 🤮😱

[@brysoga]

If anyone is interested in just learning about bitcoin and it's benefits, please just go watch Michael Saylor speak (any KZbin video).

[@TobyNewbatt]

Yep he’s certainly a smart chap

[@Slaterhobbies92]

I missed that boat

[@TobyNewbatt]

Maybe we can revisit this in a few years time :P

[@robbybroon4904]

You didn’t. Still long way to go.

[@TheSilvercue]

BTC will be £100k by the end of 2025. It is simply follows a four year cycle based on the halving. NFA

[@user-mw2oe6xc7u]

At the moment toby , for me I can’t invest in something I don’t have a full and in depth understanding of, but good luck to those invested , in the short term I’ll keep doing the research 👌🏻

[@humphreychiu1767]

a few points: 1) criminals would use privacy focus coins like Monero, the authorities have taps on all the major cash-out venues like exchanges, you'd be mad to expose your dirty wallets with them. 2) Gains from crypto is still subject to CGT. I'm confident HMRC have a direct line to all the reliable public crypto exchanges. 3) pretty sure your rig was gpu mining set up, so you were mining Ethereum (or other gpu-minable coins) but not Bitcoin. 4) I buy cryptos, but I'd never call myself investing. It is pure speculation and gambling. And as the FCA keeps telling every exchange to remind retail users, you can lose all your money!

[@knowledgeseeker5499]

Gamble isn’t taxable and FCA keep reminding about risk of losing money then why are they charging CGT??

[@shuthedoors]

Lumber! 😂 2:57

[@TobyNewbatt]

My type of humour 😝

[@marksimard3532]

How can I make more profitable investment in crypto without incurring most losses?

[@agilouzochukwu9193]

I've followed many traders over the years, but none have been as consistently accurate as Elizabeth Warren. She's truly in an inspiration to us all.

[@jerich337]

I'm surprised that this name is being mentioned here,I stumbled upon one of he's clients testimony on crypto news last week.

[@Candyswiss56]

As a beginner, it's essential for you to have a mentor to keep you accountable.

[@davidbumpstead9833]

Toby, love your channel but can you please explain why and how Bitcoin differs to the other "illegitimate" crypto currencies? I would love to understand where the value lies within crypto to justify its place in my portfolio?

[@TobyNewbatt]

Lots of reasons probably more than I can write in one comment! But many other crypto currencies can be minted or created by the owner so they can literally just create an unlimited amount. As with anything the value lies is what we want to place in it. Gold if you truly break it down is a shiny rock it has no value…unless we choose to give it value. On its own the use cases in manufacturing do not justify its value. Ultimately an asset like Bitcoin that truly sits outside of the financial system and is decentralised has massive potential. But still early days 👍.

[@davidbumpstead9833]

@TobyNewbatt Thank you for getting back to me, I think the issue with comparing to gold is the fact that there are physical uses for gold such as manufacturing and jewellery, which are of use to the general public. As for Bitcoin, the general public has no use for it beyond trading Bitcoin with other users (the greater fool theory). Crypto may be the future, but I don't think anyone can identify what that future is and, therefore, can assign any form of value to it. Additionally, who can be certain they have chosen the correct horse in the race. The Dot com Bubble showed that we are inherently terrible at picking a winner and going all in on a single (or a few cryptocurrencies) is extremely risky. Just some food for thought, but good luck with your crypto bet, I hope I'm wrong.

[@blackthai5023]

Satoshi is famous not infamous as you perversely describe 'him'

[@CB-fz3li]

I reckon more money has been lost due to people screwing up with physical wallets than has been lost on platforms.

[@TobyNewbatt]

Mount Gox and FTX have entered the chat.. :P

[@trancekingpj]

@@TobyNewbatt it's a valid point though. An estimated 4-7mil BTC are supposedly lost forever thanks to keys stored on failed or lost hard drives, people losing their keys, or people dying without passing on their keys to their loved ones for them to inherit. This makes a big difference to the remaining balance which will only really impact on the markets once enough halvings have taken place to make the miner rewards virtually invisible.

[@TobyNewbatt]

@@trancekingpj oh for sure, many old wallets that nobody thought would ever be worth anything will never see the light of day. And the tech has moved on a lot more since in order for you to look after them. Its much easier no to get hold of and manage than it was in the early 2010's and before.

[@ShameerRavji]

Thx for the vid. I just stay away from crypto.

[@VikashSingh]

This is the future, everyone will buy it in time, hold it and then not know what to do with it. 😂😂

[@lawrencer8673]

I am happy to miss out on Crypto Currency. I will stick to my S & P 500 index....i dont suffer from the fear of missing out. If Crypto ever collapsed i dont see governments trying to keep it afloat.

[@george6977]

China has already made it illegal for the Chinese to buy or sell, although they can still hold it.😂

[@gregm9447]

The Bitcoiner reply to this (I’m not one) governments could never take or devalue your Bitcoin, but they could your savings

[@lawrencer8673]

@@george6977 any government could have a change of heart & close it down, governments what thier share (tax)

[@lawrencer8673]

@@gregm9447 the Big whales of Crypto Currency pump & Dump, until the start believing thier own hype.

[@Michael-lu9eu]

Hi Toby tehe 🎉

[@TobyNewbatt]

Bonjour!

[@TheSilvercue]

Some of your negatives are a little out of touch and not so well informed. I have been making 50%+ yield (not even including price rise of the assets)for liquidity pools and farming for years with no issues. It is literally like printing your own money.

[@TobyNewbatt]

happy for you, but this is not possible for everyone. Everyone can't make 50% yield every year :)

[@TheSilvercue]

@@TobyNewbatt they literally can! You can see the APRs. It is simple, but people who don’t understand it don’t seem to believe it. I use MINSWAP on Cardano, but there are lots of decentralised exchanges, all doing this. You just need to understand Impermanent Loss and pick the right farms.

[@Abdul_Rahman86]

I’m not really sold on crypto. I don’t know what it does.

[@TobyNewbatt]

I think it's a very interesting area - but also a minefield of crap as well. Many people explain it way better than I ever can :)

[@johnbarrera9367]

Everyone should own 5 dollars worth

[@juliat50]

Paid off my mortgage at 29 with Bitcoin ☺️

[@george6977]

A favourable outcome does not make it a proudent invesyment.

[@juliat50]

I think the chart says it all. The best investment you could make since its inception and it continues to out perform.

[@MATIvmr]

@@juliat50 „it continues to outperform”…. Well until it doesn’t 🤷‍♂️ unless you got magic crystal ball

[@timg1246]

I paid my mortgage off in sterling. What is your point ?

[@henrystevenson4837]

@@timg1246his point is that he did it at the young age of 29

[@imbarmstrong]

Have spent the last 6 months saying to myself: "must top up on Bitcoin whilst its so cheap" but buying crypto is at the very bottom list of my investments so its only "budget surplus" that gets used and its been some expensive months of late 😂. Still my meagre bitcoin allocation is doing nicely at the moment, so swings and roundabouts.

[@TobyNewbatt]

Good way to view it, easy to get fomo but nothings guaranteed!

[@garypowell2304]

Hope Vangaurd UK do. Bitcoin ETF in the coming months/years as would like to add a small percentage to my portfolio.

[@rob_h_7]

Who holds Microstrategy in their ISA? Who holds the Wisdomtree Blockchain ETF?

[@Nova2Yung]

Literally no one

[@Cosmo38436]

Can you not buy them on eToro ?

[@TobyNewbatt]

you can buy Bitcoin and crypto on many platforms yes, just make sure you understand the risks

[@Cosmo38436]

@@TobyNewbatt I was going to open an eToro account for bitcoin. I’m still hopeful it will come to trading 212

[@simond1976]

MSTR

[@dcphillips1991]

It feels like we should really move away from calling them currencies at this point, since their use as a currency is near non-existent

[@TobyNewbatt]

I'd agree for Bitcoin, it's not designed to be used to pay for your daily stuff. It's much better used as a store of value that can be transferred relatively easily anywhere in the world.

[@gregm9447]

The is biggest issue i take with the bitcoiners. 1st it’s digital currency. No. It’s slow and very expensive to use for payment. 2nd it’s an inflation hedge. No Bitcoin price decimated as inflation picked up

[@trancekingpj]

@@TobyNewbatt Can I suggest researching the use of BTC in El Salvador where it's able to be used as a payment method for transactions. People can load BTC onto the Lightning Network and then use Sats to pay for goods. Especially useful in a rising market where maybe you bought at the $16k low and are now looking at the current $70k valuation. As it's legal tender there, there's no taxation on purchase or spend of BTC so buying low and spending high does bring benefits.

[@redSTORM_]

Bitcoin holder since early 2017! My crypto portfoliot is ~10times bigger than traditional stocks/etf portfolio 😂

[@TobyNewbatt]

Winner winner!

[@stetay2]

bitcoin as not got 21000000 that much as been loss and keys lost in dumps they reckon arounds 17500000

[@stetay2]

and before its pointed out i am dyslexia

[@TobyNewbatt]

Indeed this is true!

[@roscopeco2000]

I use paypal for bitcoin, seem more legit to me

[@leskipbayless3280]

I see you watched Dumb Moneys video on their Bitcoin trade

[@henrystevenson4837]

My dad says it’s a scam and a gamble, so I’ve only told him I own 5% of my portfolio. When actually it’s more like 25% 😂

[@TobyNewbatt]

Th first confession I've seen..anymore ha

[@knowledgeseeker5499]

Gamble isn’t taxable why hmrc is taxing CGT ??

[@relievo6559]

Back in the day, I put £100 on BTC, via FTX (I know)... Luckily, I took it out before it all went wrong, when my £100 fell to £40, I decided to wash my hands and never get involved again. Back then it was worth $13k FFS 🙈 I could have literally bought 1 whole coin at that price. But then you start listening to friends and family who have no idea, and operate from a position of fear. Ah well.... if it ever dips again, I might put a grand on. I dunno.

[@TobyNewbatt]

we've all got those battle stories :P

[@Waddywoos360]

Its funny how those detractors in your family suddenly start asking about it once they see it doing well on the news. Too late to get in now for this cycle is my answer!

[@relievo6559]

​@@Waddywoos360 my auntie has always been a bit of a know it all, telling me it's too late, and I'm wasting my money. But to be fair who really knew, back then. Even now seeing how well it's doing, I still have my reservations. With all the old school investors saying it will fall to zero, I don't know which way to turn. Like Toby says, "if it looks too good to be true"🤷🏻‍♂

[@relievo6559]

​@@TobyNewbatt Even though we've missed out, I can't help thinking we still did the sensible thing. All these people beating us over the head to buy bitcoin, I think it's to help validate their own investments. I really don't know. It's almost like I'm waiting for the news to say, "Bitcoin is official" , but the government will never admit this, which I guess is the point, it's the peoples coin, not the government, so as long as we the people say it's a thing... I guess it's a thing!? haha

[@danielegianetti5599]

My thoughts on Bitcoin match those of Charlie Munger, therefore no Bitcoin in my portfolio

[@brysoga]

A man who spent zero time learning anything about it?

[@richardwhite1120]

Agreed. Thanks but no thanks.

[@brysoga]

@@richardwhite1120 your loss

[@relievo6559]

Same... and now I'm beginning to think I'm missing out.

[@timg1246]

​@@brysogaHow much did ha have in his account when he popped his clogs at age 99 ? How much have you got ?

[@timlodge8267]

Gold has got a use Bitcoin has not.

[@tyeng1295]

Low cost international trade. No FX fees. Set supply being a hedge against inflation. More uses than tatty looking jewellery

[@stetay2]

you can send bitcoin all around the world i like you try post some gold lol

[@juliat50]

🤣 Stay poor.

[@timlodge8267]

@@stetay2 I post invisible shirts all over the world.

[@gingafinga]

Don't hold BTC, but have SOL, AVAX RNDR and a couple of others. 10% of portfolio. Was up 200%, then down 75%, now breaking even, almost! Quite a ride.

[@TobyNewbatt]

Living life on the edge!

[@NS-pt9rr]

If you can't touch it, feel it IR see it its a NOTHING, just air !!

[@TobyNewbatt]

When i've sold my Bitcoin in the past i got this thing called money? Is that just air?

[@danielsharp6272]

Lumber 😂

[@TobyNewbatt]

I provide only the finest entertainment

[@TheSilvercue]

I have always made far more money from crypto than stocks trading. Bitcoin outperforms the SPX every year, yet they tell you it is far more risky 😂

[@shimsteriom4191]

0% in BTC

[@TobyNewbatt]

want some of mine :P

[@JonnyMcJonFace]

Bit late. Telling people to invest when bitcoin is at all time highs 😂

[@TobyNewbatt]

I'm not telling people what to invest in. But also you can say the same thing about the stock market - It's always a good time to invest there without a question.

[@JonnyMcJonFace]

@@TobyNewbatt for most people, they can’t stomach the extreme volatility of bitcoin though. They be selling when drops 30 to 40k in price. Then have to wait more than 4 years until they in profit again.

[@TobyNewbatt]

@@JonnyMcJonFace The stock market also encounters extreme volatility though? Just a thought, but you are right that its still human emotions at play anyway :)