Most the mining stocks seem to have one big rally then settle, PREM does seem a little different when you read into the potential etc and what deposits they have on their sites, it's up 185% year in year, 983% since they floated and they haven't even started mining the lithium yet.
the point with bitcoin is there is a limited amount that can be mined. that's partly why the mining uses so much energy - machines are constantly trying to guess the codes of the remaining unmined coins
It's easy to get caught up in the hype, especially when you see those success stories floating around. But you're right. It's not all sunshine and rainbows. The scalability issues and environmental concerns are real. I've been in and out of the crypto game for a while now, and I've seen my fair share of ups and downs. It can be a wild ride, that's for sure. But recently, I stumbled upon something that's been a game-changer for me: quantum ai. I was a bit skeptical at first, like you, but I decided to give it a shot. And let me tell you, it's been a game-changer. The algorithms it uses are next-level, helping me navigate the market's volatility without breaking a sweat.
I just remembered my mate who bought Bitcoin a decade ago and made tens of thousands when he sold it. If he waited a few more years, he would’ve made hundreds of thousands. I’m kicking myself for not buying it then and he’s probably kicking himself for selling when he did.
The only thing I got involved in, which isn’t really crypto, but was advertised as shares & trading, Sky Sports were sponsored by them, was Football Index! Eventually lost £100, but still had shares in Jarrod Bowen, which, if it hadn’t gone bust, I’d have made a profit on when we sold him. I’ve recently seen that the twat behind FI, Adam Cole, is back with something similar, it’s made out that he’s been brought in by others, but I wouldn’t trust it, or him! https://sigma.world/news/rise-fall-and-resurgence-of-adam-cole/
My mate lost well over 20k on FI, it was mostly untaken profit but it still mentally ruined him for a while
I first heard about Bitcoin on RT Today in September 2014 when it was $400. I didn't buy until September 2019 when it was $9k.
Wow...now that is a **** load of risk.....like betting City against Liverpool. I know..we beat Liverpool, but still $9K
I had a fair bit in it but luckily, or unlucky, for me I had a significant bill to pay once so withdrew. Ended up losing about £200 but it was profit. Probably made a couple thousand on it in total. It was a good platform but greed took over and then it snowballed into oblivion
Beside buying drugs off the dark web and money-laundering, does crypto have any practical use as a mode of exchange that is better than fiat currency? Aside from its illicit practical uses, it just seems like an investment like buying stocks imo. No nation or major corporation has adopted crypto as its main form of exchange. The main benefits seem to be anonymity.
I think at the height of its hype, a few years ago now, some people thought it would start to be used as a real currency. I've always felt it never made any sense as a practical payment method and I think the lack of development on that front in the years since has shown that to be true. As you say, it's really just something you can trade and potentially make or lose money on with much greater volatility than stocks and shares, and a handy way of exchanging money for criminals.
It has its uses. Monero is almost impossible to trace which makes it ideal for illegal transactions. But as a mode of general exchange, is it easier for a lay person to use than bank transfers, PayPal, debit cards and cash? No. Crypto has insane worth and is legally traded but its utility is almost exclusively propped up by black markets online. It’s like buying a few shares in a company for the sole purpose of trading it for a few grams of cocaine and the share price just skyrockets over time.
