RE: Off topic9 Nov 2021 14:45
I have been wary of them Whizzer because their similarity to pyramid sales seemed fairly clear.
My youngest is a fully qualified financial advisor, and he has been a professional crypto dealer for a few years now. He sold his shares to buy into several cryptos but I believe it is fairly hard work keeping abreast of developments. He is under no illusion that there is fraud aplenty going on , so he has spread his investments across quite a few different coins. There is a motley fool type that he follows. A likely pump and dumper in the past , he now gives tips when he sees the signs. The other week he suggested there would be a likely dump, so my son got out of that one immediately, and, true enough , it happened!
His view is that monied people are sick to death of profiteering banks ripping us all off.
I think he said that 8% to 20% is fairly easy to achieve on crypto but you have be aware that you can lose up to 100% overnight even if you are careful. He was in risk management with JP Morgan, so spotting warning signs ,and having a clue about who to trust , is in his make-up! I'd only have blusher if I tried it!
When he was into shares he used the 50% strategy , and told me many times I was too invested in my favourite stocks, but since crypto he tries to take out 100% of his investment so all he has invested is profit. Nice job if you can do it? Hope that is some use to you Whizzer, probably a bit biased from me - it still looks like gambling to me - but betting on certainties has not done me much good, YET!!!!!!!!! As Skeeter Davis used to sing, "Our day will come!".
Her biggest hit though was "The end of the world!" and she died in 2004.
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