Funny that you made a thread about this Crypto glitch. My work colleague told me that he woke up today and checked his crypto on his phone and found £53k worth. And when he too tried to delve more into he found out it was a glitch too. He was very gutted and annoyed after. Which is understandable.
He’s very into all this Cryptocurrency. But I’m a novice. Been trying to learn about it and it’s terms. Haven’t managed to buy into any yet.
I was over the moon when I checked yesterday moring and found my cryptos had gone up by 10%.
I would have been deeply suspicous if I was told they had gone up by 1000%.
comment by rosso - time to #takefootballback (U17054)
posted 40 minutes ago
comment by Culér (U9489)
posted 2 hours, 59 minutes ago
If it is in his account then legally it's his money.
In terms of crypto, yes I trade a lot of Bitcoin but I charge for client advice.
My free words of wisdom to you are buy it and buy it now before the next bull market.
----------------------------------------------------------------------
You are of course registered with the FCA, Culer?
----------------------------------------------------------------------
If he was regulated it would be more than any crypto is. Good luck with your mad ponzi scheite.
I wondered when this article would attract some dullard incorrectly using the word ponzi. People can't resist talking about something they clearly don't understand.
comment by Culér (U9489)
posted 49 minutes ago
I don't have to share any FCA related info on a public forum like this sorry.
----------------------------------------------------------------------
Just wanted to check that you were aware that under the terms of your registration, failure to advise of the risks of any product you provide advice on may be seen as a failure to provide services or advice to the standard of a reasonably competent financial advisor.
And as such, you’d be open to claims for financial loss from your clients.
Which is largely why the overwhelming majority of financial advisers (more than 9 out of 10 in the UK) don’t ever recommend *any* cryptos or ‘meme stocks’.
My bank used to phone me and tell me the dangers when I tried to top up my Binance account.
comment by rosso - time to #takefootballback (U17054)
posted 12 minutes ago
comment by Culér (U9489)
posted 49 minutes ago
I don't have to share any FCA related info on a public forum like this sorry.
----------------------------------------------------------------------
Just wanted to check that you were aware that under the terms of your registration, failure to advise of the risks of any product you provide advice on may be seen as a failure to provide services or advice to the standard of a reasonably competent financial advisor.
And as such, you’d be open to claims for financial loss from your clients.
Which is largely why the overwhelming majority of financial advisers (more than 9 out of 10 in the UK) don’t ever recommend *any* cryptos or ‘meme stocks’.
----------------------------------------------------------------------
Have I signed anything?
Any terms of contract??
comment by Culér (U9489)
posted 4 minutes ago
comment by rosso - time to #takefootballback (U17054)
posted 12 minutes ago
comment by Culér (U9489)
posted 49 minutes ago
I don't have to share any FCA related info on a public forum like this sorry.
----------------------------------------------------------------------
Just wanted to check that you were aware that under the terms of your registration, failure to advise of the risks of any product you provide advice on may be seen as a failure to provide services or advice to the standard of a reasonably competent financial advisor.
And as such, you’d be open to claims for financial loss from your clients.
Which is largely why the overwhelming majority of financial advisers (more than 9 out of 10 in the UK) don’t ever recommend *any* cryptos or ‘meme stocks’.
----------------------------------------------------------------------
Have I signed anything?
Any terms of contract??
----------------------------------------------------------------------
I would hope so if you’ve been giving “client advice”.
Culver means he advised his Nan to play a pound on the Euromillions lottery.
comment by Ji Sung Park's Cousin - A Beekers Dozen (U2958)
posted 1 hour, 12 minutes ago
I wondered when this article would attract some dullard incorrectly using the word ponzi. People can't resist talking about something they clearly don't understand.
----------------------------------------------------------------------
Yup, too right! Don’t invest in stuff I don’t understand despite asking some key questions to many many folk that do buy it. Seems none of them understand it. Could have used a different derogation but readers get the gist.
comment by Culér (U9489)
posted 4 hours, 29 minutes ago
comment by rosso - time to #takefootballback (U17054)
posted 1 minute ago
comment by Culér (U9489)
posted 1 minute ago
comment by rosso - time to #takefootballback (U17054)
posted 5 minutes ago
comment by Culér (U9489)
posted 53 minutes ago
If it is in his account then legally it's his money.
In terms of crypto, yes I trade a lot of Bitcoin but I charge for client advice.
My free words of wisdom to you are buy it and buy it now before the next bull market.
----------------------------------------------------------------------
Wrong.
----------------------------------------------------------------------
Based on what?
----------------------------------------------------------------------
Based on the fact that if the Bitcoin isn’t yours, and by law it is deemed not to be yours, then it doesn’t legally become yours just because it sits in your wallet.
----------------------------------------------------------------------
Depends on the cold storage
----------------------------------------------------------------------
You actually have no idea what you are talking about.
It was on revolut. There is no cold storage for AMP.
Your making stuff up here.
comment by Magnum. (The big man on here, The Chief, The Head Honcho, The Big Tamale, The Sheriff, The Main Man, The Guv'nor for the Danny Dyer types, WTF are you looking at?) (U22391)
posted 13 minutes ago
comment by Culér (U9489)
posted 4 hours, 29 minutes ago
comment by rosso - time to #takefootballback (U17054)
posted 1 minute ago
comment by Culér (U9489)
posted 1 minute ago
comment by rosso - time to #takefootballback (U17054)
posted 5 minutes ago
comment by Culér (U9489)
posted 53 minutes ago
If it is in his account then legally it's his money.
In terms of crypto, yes I trade a lot of Bitcoin but I charge for client advice.
My free words of wisdom to you are buy it and buy it now before the next bull market.
----------------------------------------------------------------------
Wrong.
----------------------------------------------------------------------
Based on what?
----------------------------------------------------------------------
Based on the fact that if the Bitcoin isn’t yours, and by law it is deemed not to be yours, then it doesn’t legally become yours just because it sits in your wallet.
----------------------------------------------------------------------
Depends on the cold storage
----------------------------------------------------------------------
You actually have no idea what you are talking about.
It was on revolut. There is no cold storage for AMP.
Your making stuff up here.
----------------------------------------------------------------------
It’s a completely moot point regardless.
There isn’t a cryptocurrency which functions legally as he’s suggesting in the UK.
Not sure anyone is asking it to 'function' in the UK as anything other than a speculation commodity real or otherwise? It is not illegal to 'own' (whatever that entails) it as I understand?
No doubt someone will pipe up that they've paid for something using crypto? Not sure what that means either but afaik barter is not illegal which is what I'd equate it to.
BTW, anyone can invent something that adds -currency onto it's name, like Beanocurrency. Doesn't make it a legit currency.
comment by Silver (U6112)
posted 34 minutes ago
Not sure anyone is asking it to 'function' in the UK as anything other than a speculation commodity real or otherwise? It is not illegal to 'own' (whatever that entails) it as I understand?
No doubt someone will pipe up that they've paid for something using crypto? Not sure what that means either but afaik barter is not illegal which is what I'd equate it to.
BTW, anyone can invent something that adds -currency onto it's name, like Beanocurrency. Doesn't make it a legit currency.
----------------------------------------------------------------------
Sorry, by “functions legally” I meant functions from a legal perspective as Culer was suggesting; explicitly, ‘if it’s in your wallet, then legally it’s your coin’. That isn’t always the case.
Of course there are legal uses of cryptos in the UK.
If it's in your own, physical crypto-wallet then it's most definately yours.
Haha so many crypto amateurs on here. Cold storage is the way to go.
comment by Boris 'Inky’ Gibson (U5901)
posted 28 minutes ago
If it's in your own, physical crypto-wallet then it's most definately yours.
----------------------------------------------------------------------
As far as the wallet is concerned, and as far as the blockchain is concerned, yes.
As far as the *law* is concerned, not necessarily, as explained above.
Why would the law be interested if it was legally obtained off an established trading platform?
comment by Culér (U9489)
posted 33 minutes ago
Haha so many crypto amateurs on here. Cold storage is the way to go.
----------------------------------------------------------------------
Cold Storage is just another name for a physical crypto-wallet like I and many others on here own.
Comment deleted by Site Moderator
Comment deleted by Site Moderator
Comment deleted by Site Moderator
Comment deleted by Site Moderator
comment by Boris 'Inky’ Gibson (U5901)
posted 8 hours, 34 minutes ago
If it's in your own, physical crypto-wallet then it's most definately yours.
----------------------------------------------------------------------
No this is nonsense.
If the bank puts a million quid in your bank account in error, it isn't yours.
If you take that money and buy bitcoin, it isn't yours.
If you put that bitcoin on a ledger it still isn't yours.
You might argue that nobody else can retrieve it but it would not be legally yours. That was the original point being made.
The
comment by United we win (U19958)
posted 5 hours, 42 minutes ago
Call crypto currency a ponzi etc but even the world economic forum is advising big business in how to get started http://www3.weforum.org/docs/WEF_Getting_Started_Cryptocurrency_2021.pdf
Like everything in life those slow to react will be left behind
----------------------------------------------------------------------
Ignore the WEF.
Its simply an expensive club for business people wo want to network, get a photo with Will I Am or some such, and get hammered on expenses in Davos for a week.
Literally anyone who can afford it can pitch up and, if you pay enough, you can speak at it or moderare a session.
It has a veneer of respectability but the idea that it's some part of a new world order(I know that's not what you're suggesting) is whacky.
Sign in if you want to comment
Cryptocurrency - off topic
Page 2 of 4
posted on 27/7/21
Funny that you made a thread about this Crypto glitch. My work colleague told me that he woke up today and checked his crypto on his phone and found £53k worth. And when he too tried to delve more into he found out it was a glitch too. He was very gutted and annoyed after. Which is understandable.
He’s very into all this Cryptocurrency. But I’m a novice. Been trying to learn about it and it’s terms. Haven’t managed to buy into any yet.
posted on 27/7/21
I was over the moon when I checked yesterday moring and found my cryptos had gone up by 10%.
I would have been deeply suspicous if I was told they had gone up by 1000%.
posted on 27/7/21
comment by rosso - time to #takefootballback (U17054)
posted 40 minutes ago
comment by Culér (U9489)
posted 2 hours, 59 minutes ago
If it is in his account then legally it's his money.
In terms of crypto, yes I trade a lot of Bitcoin but I charge for client advice.
My free words of wisdom to you are buy it and buy it now before the next bull market.
----------------------------------------------------------------------
You are of course registered with the FCA, Culer?
----------------------------------------------------------------------
If he was regulated it would be more than any crypto is. Good luck with your mad ponzi scheite.
posted on 27/7/21
I wondered when this article would attract some dullard incorrectly using the word ponzi. People can't resist talking about something they clearly don't understand.
posted on 27/7/21
comment by Culér (U9489)
posted 49 minutes ago
I don't have to share any FCA related info on a public forum like this sorry.
----------------------------------------------------------------------
Just wanted to check that you were aware that under the terms of your registration, failure to advise of the risks of any product you provide advice on may be seen as a failure to provide services or advice to the standard of a reasonably competent financial advisor.
And as such, you’d be open to claims for financial loss from your clients.
Which is largely why the overwhelming majority of financial advisers (more than 9 out of 10 in the UK) don’t ever recommend *any* cryptos or ‘meme stocks’.
posted on 27/7/21
My bank used to phone me and tell me the dangers when I tried to top up my Binance account.
posted on 27/7/21
comment by rosso - time to #takefootballback (U17054)
posted 12 minutes ago
comment by Culér (U9489)
posted 49 minutes ago
I don't have to share any FCA related info on a public forum like this sorry.
----------------------------------------------------------------------
Just wanted to check that you were aware that under the terms of your registration, failure to advise of the risks of any product you provide advice on may be seen as a failure to provide services or advice to the standard of a reasonably competent financial advisor.
And as such, you’d be open to claims for financial loss from your clients.
Which is largely why the overwhelming majority of financial advisers (more than 9 out of 10 in the UK) don’t ever recommend *any* cryptos or ‘meme stocks’.
----------------------------------------------------------------------
Have I signed anything?
Any terms of contract??
posted on 27/7/21
comment by Culér (U9489)
posted 4 minutes ago
comment by rosso - time to #takefootballback (U17054)
posted 12 minutes ago
comment by Culér (U9489)
posted 49 minutes ago
I don't have to share any FCA related info on a public forum like this sorry.
----------------------------------------------------------------------
Just wanted to check that you were aware that under the terms of your registration, failure to advise of the risks of any product you provide advice on may be seen as a failure to provide services or advice to the standard of a reasonably competent financial advisor.
And as such, you’d be open to claims for financial loss from your clients.
Which is largely why the overwhelming majority of financial advisers (more than 9 out of 10 in the UK) don’t ever recommend *any* cryptos or ‘meme stocks’.
----------------------------------------------------------------------
Have I signed anything?
Any terms of contract??
----------------------------------------------------------------------
I would hope so if you’ve been giving “client advice”.
posted on 27/7/21
Culver means he advised his Nan to play a pound on the Euromillions lottery.
posted on 27/7/21
comment by Ji Sung Park's Cousin - A Beekers Dozen (U2958)
posted 1 hour, 12 minutes ago
I wondered when this article would attract some dullard incorrectly using the word ponzi. People can't resist talking about something they clearly don't understand.
----------------------------------------------------------------------
Yup, too right! Don’t invest in stuff I don’t understand despite asking some key questions to many many folk that do buy it. Seems none of them understand it. Could have used a different derogation but readers get the gist.
posted on 27/7/21
comment by Culér (U9489)
posted 4 hours, 29 minutes ago
comment by rosso - time to #takefootballback (U17054)
posted 1 minute ago
comment by Culér (U9489)
posted 1 minute ago
comment by rosso - time to #takefootballback (U17054)
posted 5 minutes ago
comment by Culér (U9489)
posted 53 minutes ago
If it is in his account then legally it's his money.
In terms of crypto, yes I trade a lot of Bitcoin but I charge for client advice.
My free words of wisdom to you are buy it and buy it now before the next bull market.
----------------------------------------------------------------------
Wrong.
----------------------------------------------------------------------
Based on what?
----------------------------------------------------------------------
Based on the fact that if the Bitcoin isn’t yours, and by law it is deemed not to be yours, then it doesn’t legally become yours just because it sits in your wallet.
----------------------------------------------------------------------
Depends on the cold storage
----------------------------------------------------------------------
You actually have no idea what you are talking about.
It was on revolut. There is no cold storage for AMP.
Your making stuff up here.
posted on 27/7/21
comment by Magnum. (The big man on here, The Chief, The Head Honcho, The Big Tamale, The Sheriff, The Main Man, The Guv'nor for the Danny Dyer types, WTF are you looking at?) (U22391)
posted 13 minutes ago
comment by Culér (U9489)
posted 4 hours, 29 minutes ago
comment by rosso - time to #takefootballback (U17054)
posted 1 minute ago
comment by Culér (U9489)
posted 1 minute ago
comment by rosso - time to #takefootballback (U17054)
posted 5 minutes ago
comment by Culér (U9489)
posted 53 minutes ago
If it is in his account then legally it's his money.
In terms of crypto, yes I trade a lot of Bitcoin but I charge for client advice.
My free words of wisdom to you are buy it and buy it now before the next bull market.
----------------------------------------------------------------------
Wrong.
----------------------------------------------------------------------
Based on what?
----------------------------------------------------------------------
Based on the fact that if the Bitcoin isn’t yours, and by law it is deemed not to be yours, then it doesn’t legally become yours just because it sits in your wallet.
----------------------------------------------------------------------
Depends on the cold storage
----------------------------------------------------------------------
You actually have no idea what you are talking about.
It was on revolut. There is no cold storage for AMP.
Your making stuff up here.
----------------------------------------------------------------------
It’s a completely moot point regardless.
There isn’t a cryptocurrency which functions legally as he’s suggesting in the UK.
posted on 27/7/21
Not sure anyone is asking it to 'function' in the UK as anything other than a speculation commodity real or otherwise? It is not illegal to 'own' (whatever that entails) it as I understand?
No doubt someone will pipe up that they've paid for something using crypto? Not sure what that means either but afaik barter is not illegal which is what I'd equate it to.
BTW, anyone can invent something that adds -currency onto it's name, like Beanocurrency. Doesn't make it a legit currency.
posted on 27/7/21
comment by Silver (U6112)
posted 34 minutes ago
Not sure anyone is asking it to 'function' in the UK as anything other than a speculation commodity real or otherwise? It is not illegal to 'own' (whatever that entails) it as I understand?
No doubt someone will pipe up that they've paid for something using crypto? Not sure what that means either but afaik barter is not illegal which is what I'd equate it to.
BTW, anyone can invent something that adds -currency onto it's name, like Beanocurrency. Doesn't make it a legit currency.
----------------------------------------------------------------------
Sorry, by “functions legally” I meant functions from a legal perspective as Culer was suggesting; explicitly, ‘if it’s in your wallet, then legally it’s your coin’. That isn’t always the case.
Of course there are legal uses of cryptos in the UK.
posted on 27/7/21
If it's in your own, physical crypto-wallet then it's most definately yours.
posted on 27/7/21
Haha so many crypto amateurs on here. Cold storage is the way to go.
posted on 27/7/21
comment by Boris 'Inky’ Gibson (U5901)
posted 28 minutes ago
If it's in your own, physical crypto-wallet then it's most definately yours.
----------------------------------------------------------------------
As far as the wallet is concerned, and as far as the blockchain is concerned, yes.
As far as the *law* is concerned, not necessarily, as explained above.
posted on 27/7/21
Why would the law be interested if it was legally obtained off an established trading platform?
posted on 27/7/21
comment by Culér (U9489)
posted 33 minutes ago
Haha so many crypto amateurs on here. Cold storage is the way to go.
----------------------------------------------------------------------
Cold Storage is just another name for a physical crypto-wallet like I and many others on here own.
posted on 28/7/21
Comment deleted by Site Moderator
posted on 28/7/21
Comment deleted by Site Moderator
posted on 28/7/21
Comment deleted by Site Moderator
posted on 28/7/21
Comment deleted by Site Moderator
posted on 28/7/21
comment by Boris 'Inky’ Gibson (U5901)
posted 8 hours, 34 minutes ago
If it's in your own, physical crypto-wallet then it's most definately yours.
----------------------------------------------------------------------
No this is nonsense.
If the bank puts a million quid in your bank account in error, it isn't yours.
If you take that money and buy bitcoin, it isn't yours.
If you put that bitcoin on a ledger it still isn't yours.
You might argue that nobody else can retrieve it but it would not be legally yours. That was the original point being made.
The
posted on 28/7/21
comment by United we win (U19958)
posted 5 hours, 42 minutes ago
Call crypto currency a ponzi etc but even the world economic forum is advising big business in how to get started http://www3.weforum.org/docs/WEF_Getting_Started_Cryptocurrency_2021.pdf
Like everything in life those slow to react will be left behind
----------------------------------------------------------------------
Ignore the WEF.
Its simply an expensive club for business people wo want to network, get a photo with Will I Am or some such, and get hammered on expenses in Davos for a week.
Literally anyone who can afford it can pitch up and, if you pay enough, you can speak at it or moderare a session.
It has a veneer of respectability but the idea that it's some part of a new world order(I know that's not what you're suggesting) is whacky.
Page 2 of 4