Of course, a diversified portfolio is better and safer than saving a single asset, even if the trust in it is very high, such as gold or bitcoin. In the example that you mentioned, it must be emphasized that these savings must not be subject to taxation for the investment to be complete, and almost cryptocurrencies (Bitcoin) are one of the few assets that can be saved secretly and securely away from the eyes of censorship and are not subject to any taxes.
The most important thing, in my opinion, is to avoid saving Fiat money to encourage something like a break with it, pending its final cancellation.

By the way, welcome back to the Bitcoin Discussion section. It's been a long time since I last saw you posting here. I hope you are in good health JetCash.

If you knew his age, you would apologize for calling him foolish. I guess he's your grandfather's age. As far as I know, I don't think he's looking for financial investment advice, what he's doing is like a survey for young investors like us. And I also disagree when you say £50 is not worth the investment, everyone will have a different economy, it may be nothing to you, but it will be an asset to someone.
One more thing, he is not here to monetize signature campaigns like you and me .

To me £50 is not a little cash Mr Cash . First of all lemme congratulate you on your winning and expect more to come. If I'm to be having such amount in my account I'd look for a way to increase it by investing on it, you can split it into two (use the other half to get something for you that you would be using as a reminder), I'd say go ahead but your Bitcoin with the other half and who knows before the end of 2 months (if you're patience) you'd be smiling more than you are now because I believe Bitcoin will raise to 30k+ and your profit would make you giggle.

Congratulations on receiving your prize yesterday. It is nice you received it.


That is one thing with the government when it comes to payment or anything that involves cash. The delay in payment is hell. They will tell you there are laid down procedures for payment process to scale through. They will find every possible means to scrutinize you, the payment and to know where such fund is coming from before anything takes place so if they find any fault, they would take the money and pass charges against you so they do not pay you but the Same government officials and politicians are at it embezzling funds meant for public use and nobody is going after them but they will find all means to take away the little  you have added to their own.


Sir, leaving my prize with the government is not feasible as they can not be trusted. They are not tired of looting.. I think my little prize would be good enough for me to take it and help the poor and needy as the case maybe. That would make me satisfied as I did it myself instead of the government.

The government in England is very clever at pretending that it is not taxing things, whilst secretly taking money. Premium Bonds are one example. They purport to be tax free, but infact the interest that is used to create the prize pool is paid at under market rates. So bond winnings are effectively taxed at source. They do the same thing with the National Lottery., as you don't pay tax on the prizes. However, the lottery company pays tax on the money it receives. Another scam is horse racing bets. You have to pay tax on your winnings, but you can elect to pay this on the amount you bet. So you are effectively buying a bet for the government, win or lose you have still paid it. Of course the government taxes the bookie on his profits as well. I suspect one of the main reasons governments are stressed about Bitcoin is the fact that it is hard for them to impose taxes if users avoid exchanges. I'm surprised that the new bank notes didn't include QR codes - that would have allowed the government to track the passage of serial numbers through the economy.

Well I seem to be on a roll at the moment. This £50 win, plus the £100 I mentioned on the economics board, and a £30 cashback payment on my debit card all seem to be good omens. Also, I noticed a 50 pence piece under the bench in the cafe, and I picked up £20 in the street. They were those horrible shiny plastic notes that seem to work their way out of your pocket if you aren't careful. I spent a year playing cards for a living in my late teens, and one thing I learnt was that you should run your winnings and cut your losses. This is the opposite of the bahaviour of most people, who quit while they are ahead and chase their losses. So what is the point of this post? I wanted to say that I'm pushing my luck, and I bought another £500 worth of bonds. Unfortunately, they won't go into the draw until July, the they won't be eligible on my birthday ( June 20th ).

I did make a half hearted attempt to buy some Bitcoin in this forum, but, as I can only pay by UK Sterling faster payments, I didn't get any takers.

I hope you'll be lucky once again and earn more money in the month of July. I would recommend that you consider investing at least a portion of your earnings in Bitcoin while using the remaining part to enjoy life. It's unfortunate that the draw is scheduled after your birthday, which falls on June 20th, but that's just the way it is and you can't do anything about it 

You could probably explore alternative P2P sites online. As far as I know, there are some platforms that don't necessitate any form of verification and you might come across ones that accept UK sterling as a payment method.

Surely the odds are the same for a £25 investment as for a £25,000 one. Of course the chances of a win are higher for a larger holding. Don't forget the 3.3% is tax free as well. The first eligible draw for my bonds was in January, and if you assume that I will pick up another £50 before the end of the year, then I will still be down on the interest I could have earned.. But I wouldn't have had the fun of checking every month to make sure that I haven't won £1,000,000. Also, I wouldn't have been able to start this thread, and as I mentioned, I have found the replies very interesting and illuminating. When considering replies, you need to take into account my personal situation. I'm a rebellious prepper, who is over 80, and because I decided to opt for an offgrid lifestyle, I don't really want for anything. Well maybe some alloy wheels for my Volvo daily driver.


I appreciate the need for emergency fod supplies, but I already have 3 removal crates full of tins and pasta ( those are the 3 foot long crates), and those include sardines, salmon, tuna, and varieties of meat, as well as vegetables and soup. I should probably buy some Bitcoin right now, as I suspect it will drop a bit further, and then shoot up. However, I try to deal in domain names to build my Bitcoin investment. I can get a much better return on my investment by buying classic Volvo cars. I paid less than scrap value for Cinderella ( the volvo in the image), and it probably worth around £1,500, because it is a bit of a rat rod, but it is a great daily driver. It only cost £50 to pass the government inspection a couple of months ago, as it didn't need any repairs. Not bad for a 1988 car!

[edit]
I forgot to mention that I still seem to be on the good luck roll. Somebody had left £4.71 in change in the do iy yourself checkout at the supermarket. Not a lot, but all these bits are mounting up.

You would think so but not quite. this is nicely explained in this Martn Lewis's article:
https://www.moneysavingexpert.com/savings/premium-bonds/



So are ISAs.



Makes sense, but consider if the difference between a higher rate account and premium bonds is worth paying for the tiny chance of wining £1 mil.

I think premium bonds are specific to the UK. It's an interesting concept, instead of earning a fixed interest as with the regular bonds, premium bonds do not earn interest but they enter a lottery instead. So the average expected winnings stand at a bit above 3% p.a. (not quite true for smaller investors as I posted above) but you also have a chance of winning big, with the top prize being £1 million.

Great alternative for playing Lotto, as you don't spend money on the tickets, but not so great as an investment,