Should I invest 1,000 euro in crypto?

[Finance]

Can anyone let me know their experience of using Binance?

 

[Fortune]

Elon Musk saying that in the near future there will be no need for the alphabet!

Sounds like we'll have at least a second alphabet soon, then.

 

[Flybytheseat]

I even remember Elon Musk saying that in the near future there will be no need for the alphabet!

He's going to have to rename some of his children if there is no alphabet. X Æ A-Xii probably feels aggrieved !

 

[trajan]

FWIW, I have recently purchased a small amount of BTC. I did this because my thesis is that a) it's been around long enough now and up and down enough in that time that it's no longer exhibiting what I would consider bubble behaviour, and b) the fundamentals about it that people believe in is that it will be a (portable) store of value that will not erode over time due to inflation once it tops out at 21m coins. In the context of my overall portfolio, I'm no longer willing to miss out on the potential upside over a ~20-year timeframe (I've dismissed it enough over the years!) compared to the downside potential, which I no longer believe will go to zero.

In short, it's either a moonshot 10-100x or a ~50% loss for me, with probably very little chance of a more benign, non-roller-coaster scenario in between - hence the very small allocation (or bet, if you prefer!).

I can easily get the usefulness of bitcoin as a means of transferring funds securely. But I do not get its use as a particularly good store of value. There must be ~ 50 crypto currencies going at present and there's nothing to stop others being commenced. I get the fact that it's more transferrable than say so many metres of a gas pipeline or fibre-optic network. But to my mind and social intuition, the value of these currencies is largely speculative - witness the huge rises and falls over the last few years - and therefore should be avoided by a person with €1,000 from a total savings of €16,000.

This is not to say that Luna should not invest and accept some risk in order to achieve significant gains. With house prices demoralisingly higher and higher, Luna has "do something" to gather a deposit together and have a reserve against the stresses of his/her financial situation. I feel that the €1,000 on a sound but steady investment in a small company with good growth potential would be better for both investor and the economy we are all a part of.

 

[cremeegg]

old enough to remember my grandparents dialing the operator to make a phone call.

You grandparents! I’m old enough to have done it myself. The dial the operator system only finally ended in n the 1980s

 

[conor_mc]

and therefore should be avoided by a person with €1,000 from a total savings of €16,000.

I couldn’t agree more. I did just set out my logic for my personal circumstances though. On a proportional basis, luna shouldn’t invest more than about €160 in BTC. On a logical basis, he/she shouldn’t waste their capital on it at all. I have a certain level of growth in my net value baked in by way of home ownership and pension size, they do not. I can afford to gamble, and I’m under no illusion that I’m gambling on people’s perception of BTC, rather than any intrinsic value.