Cryptocurrencies

Is there any plans for FT to implement trading Cryptocurrencies. even the top 10, Bitcoin, Etherium, Litecoin etc. I trade in crypto’s but to be able to use FT will make things far easier and I’d like to trade in and out of my shares and into crypto based ones. Cheers - T

Yes FT! And while you are implementing support for all cryptocurrencies, can you also add support for sport bets and an online casino?? I would like to trade shares straight from my Texas Holdem winnings :joy:

I really hope FT stays away from anything crypto related!

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Go back to eToro :smiley:

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Most folks here are against freetrade doing crypto trading. They dont want the negative image that goes with it… I.e 85% of accounts lose money or whatever e toro and others have to state on the front page. Investors not gamblers

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It would be great to see some bitcoin related ETFs eventually. I don’t think there are any though yet?

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Saying that crypto investors are gamblers is a bit far fetched though, with all due respect. Sensible investments in the right crypto assets has been nothing but good to me and a lot of my peers.

Sure, there is a certain high risk involved, but over the last 10 years, I think we can safely say that early investors are nothing but very rich at this stage.

Besides that, I could name at least a dozen AA super save stocks that lost more than 85% of their money, so I could just as well bring the gambler hypothesis there, right? =)

Either way, I am neither for nor against bringing crypto here, just wanted to make a little defensive statement for the cryptocurrency ecosystem as a whole, have a nice day guys =)

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Cryptos have absolutely no underlying value or payout. So they are by definition gambling. There is no strategy, no valuation. All your gains are pure chance and herd-psychology. Your claim that it made people rich so quickly underlines that.

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Crypto is not investing, therefore Crypto is not FT!

Simple as that really. Use CoinBase or something if you want to trade crypto

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Sorry to disagree, but your point is not true. Cryptos value is derived of the energy it takes to produce them via Proof of Work or is based on the inherent investment made by backers in Proof of Stake systems or a mix thereof.

I’m not trying to encourage purchase of cryptos, but saying this it is purely a gamble is a false statement originating from an ignorance about the topic or willingness to understand it on a deeper level.

But I see that it’s not positively seen here so I will leave the debate for now, but before you say something just make sure that it actually reflects the truth and not your own opinion alone =)

Peace out!

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Proof of work is not value, I can spend all day digging holes, it does not make dirt valuable

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But the diamonds in the dirt are valuable, are they not ?

Maybe, but it’s not the proof of work that makes them valuable. It’s supply and demand

So quite similar to gold then, you agree?

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Freetrade and many folks here dont want crypto or leverage as it means many, I repeat many, people would come here and lose money. They are plenty of places where imaginary electrons on a supercomputer can be traded for thousands of dollars. We dont want freetrade where real business and real peoples labour is bought encouraging buying and selling something that had absolutely no inherent value whatsoever. Nobody makes crypto, there isnt not even a person carving them. At least reap real currency reflects or is backed by an economy.

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And therein lies the problem - the market is too small on crypto and is easily manipulated by whales and the likes through pump-and-dump schemes, whilst many alt-coins and ICOs are nothing but Ponzi schemes. There is also no inherent tangible value in the currencies, it’s literally whatever the idiot is prepared to pay for them. The valuations are not driven by any rationale thought, but by FOMO. The laws of supply and demand still apply, but most other rules of a mature market don’t, and thus I would argue that crypto is in its current guise closer to gambling than trading.

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Bitcoin does have some value based on demand at the moment, many other crypto’s don’t. Personally I don’t see a good reason for that demand. Sure blockchain technology is useful but I don’t see why that makes the coins so valuable, and the limited supply argument doesn’t really hold up when there are thousands of different cryptos and anyone can make a new one.

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This is quite disrespectful though to the many volunteers and people working daily on the code to maintain the software and the many people behind the businesses that focus on crypto, with all due respect.

It’s fair game that this community doesn’t want the crypto herd here, but we can still treat each project and vision with respect and not make it look like these are all wild west gold diggers and out to extort and wish for people to loose all their investments.

As I said before, it’s simply stating facts and leaving it at that, without putting personal emotions and bias into it for any people that might be interested.

I feel sorry now for even having put more oil in the fire but this had to be said and I’ll leave it now, this is the FT community after all, where any crypto crowd is not going to be finding any joy anyways, so thanks for confirming and have a nice day :slight_smile:

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I’m not totally against having crypto on FT, I just think if it was to come it should be very low priority and left till after all the true stockbroking features are done

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If you want facts, let’s have some facts about crypto:

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Putting all of the above on the side. Adding crypto trading would just violate the single responsibility principle. Do one thing and do it well.

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