I won £50 - should I use it to buy Bitcoin?

[Jet Cash]

Although I am a Bitcoin maximalist, I believe that you should diversify your savings as an additional security measure. It is also important to keep some savings in easily realised assets. Bitcoin is great as a long term hedge against inflation, but I don't cosider it to be an easily realised asset. Of course it is a simple matter to sell coins for cash, but its volatility means that it is important to time the sale. The law of maximum perversity states that when you need to sell Bitcoin, its price will be at its lowest ebb. Bank savings accounts can enable you to withdraw funds almost immediately, but the interest rates are low. In view of these facts I decided to purchase some UK National Savings premium bonds last December. These are government bonds that don't pay any interest, but the interest from all of the savers' bonds are placed in a prize pool, and prizes are awarded each month. The prizes range from £25 to £1,000,000. I won £50 in this month's draw, and the money will be paid into my bank account, and it is tax free. Now what should I do with the money? I could use it to buy more bonds, as the minimum purchase amount is only £25. Alternatively I could buy a few Satoshi, as I believe that we will see a sharp rise in the price of Bitcoin later this year, or perhaps early next year. The million pound prize is tempting, but so is the doubling or tripling of the Bitcoin price.

[1715179765]

1715179765

[1715179765]

1715179765

[1715179765]

1715179765

[1715179765]

1715179765

[humanvelocity]

Take that 50£ and ask a girl/someone important you out for a nice dinner. Enjoy life and have a laugh because in the process of always trying to make money we often tend to lose important people around us. Lets be realistic because investing that 50£ in cryptocurrencies isn’t really gonna help you tremendously. Go have fun outside and i bet that money will be worth much more than 1£ or 2£ profit you make in 6months on cryptocurrency.

[siedemtrzy]

Asking for a financial advice on the forum is not the best idea. But I can say what I would do. I'd buy Bitcoin, that's for sure. £50 is not much, but still it's a move forward.

[Jet Cash]

@humanvelocity
I gave you a couple of merits, because I thought your post was a great idea. However, I'm now a retired pensioner, and I'm not short of money for the odd special meal. I'm a bit phobic about food at the moment, and I think I would prefer to fry a nice steak and eat in on the beach.
I guess I'm not really asking for financial advice, but I'm more interested in social opinions. Both of my suggestions are gambles, and I guess your suggestion is more of a lifestyle reward. If it had been a slightly larger sum, I'd be tempted to try to find another classic car to restore, I enjoy the challenge in this.

[posi]

@humanvelocity
I gave you a couple of merits, because I thought your post was a great idea. However, I'm now a retired pensioner, and I'm not short of money for the odd special meal. I'm a bit phobic about food at the moment, and I think I would prefer to fry a nice steak and eat in on the beach.
I guess I'm not really asking for financial advice, but I'm more interested in social opinions. Both of my suggestions are gambles, and I guess your suggestion is more of a lifestyle reward. If it had been a slightly larger sum, I'd be tempted to try to find another classic car to restore, I enjoy the challenge in this.

From what you said, I'm guessing you've invested a lot in bitcoin, so adding another £50 to your bitcoin portfolio won't make too much of a difference to your investment. Although I do not invest in bonds, in this case, I would recommend continuing to invest in bonds. It is not only profit but also entertainment, creating fun for old age retirees like you. I think we can do anything as long as it makes us happiest. Both are not bad in your case.

[peter0425]

 If it had been a slightly larger sum, I'd be tempted to try to find another classic car to restore, I enjoy the challenge in this.

Then why not add some amount to pursue your  restoration as this is your enjoyment ?
you are a pensioner and I think needs nothing about big in finance or any assets , and life is shorter than what we expected , so let us enjoy every moment in things that makes  us smile and happy.
and taking a little amount from your pocket aside from this winning will not hurt you in anyway .
but of course this is just my 2 cents as like you , I am now enjoying life as being Diabetic makes me feels like my time is going shorter each day.

[kryptqnick]

When I know that I'll need some cash from my BTC over the next month or two, I sell a bit in advance when the price seems pretty good. That's what I do to avoid the 'law of maximum perversity'. Not all countries have reliable bonds you can buy to invest money, and some may require significant sums to invest. I bought a bit of military bonds of my country, but it was just to support my country (Ukraine) rather than as an investment. And once you buy it, you can't get your money back for a time specified in the bond contract (usually 6 months or up to a year), so it's not an easily realized asset in any way.
As for £50, I liked humanvelocity's reply, but I can see that it's not really an option for you. It seems that this money won't make a big difference as an investment, so why not donate it to a good cause, perhaps? Or use it for an experience that you haven't tried or haven't done in a while? Like playing mini-golf, going to a cinema, trying VR. Something like that. I know of your age, so some of these options may be less appealing than others, but there are plenty of things that are worth trying once or doing occasionally.

[CarnagexD]

Although I am a Bitcoin maximalist, I believe that you should diversify your savings as an additional security measure. It is also important to keep some savings in easily realised assets. Bitcoin is great as a long term hedge against inflation, but I don't cosider it to be an easily realised asset. Of course it is a simple matter to sell coins for cash, but its volatility means that it is important to time the sale. The law of maximum perversity states that when you need to sell Bitcoin, its price will be at its lowest ebb. Bank savings accounts can enable you to withdraw funds almost immediately, but the interest rates are low. In view of these facts I decided to purchase some UK National Savings premium bonds last December. These are government bonds that don't pay any interest, but the interest from all of the savers' bonds are placed in a prize pool, and prizes are awarded each month. The prizes range from £25 to £1,000,000. I won £50 in this month's draw, and the money will be paid into my bank account, and it is tax free. Now what should I do with the money? I could use it to buy more bonds, as the minimum purchase amount is only £25. Alternatively I could buy a few Satoshi, as I believe that we will see a sharp rise in the price of Bitcoin later this year, or perhaps early next year. The million pound prize is tempting, but so is the doubling or tripling of the Bitcoin price.

putting a not much money and expecting it to multiply 4-5x right away is a bad idea and expectation approaching the  market. Keep it for yourself right now and educate yourself first as to how and where you better put it. The best time to invest is when you no longer look for other people's advice for your own financial decisions. It's your money. It's your fund your putting into risk so why taking others opinion.
Create your own conviction first. It's no the doubling or tripling of the Bitcoin price. It should be surviving and preserving your capital is the most important.

[acroman08]

If it had been a slightly larger sum, I'd be tempted to try to find another classic car to restore, I enjoy the challenge in this.

then I'd suggest buying a few mbtc from that money and if it gained profit later this year or next year, use that to fund a car that you'd like to restore. if it were me and not short on money, I'd use it on something I'd enjoy. it's also the reason why I suggest you choose to buy mtbc so if you gain profit from it use can use that to add to your funds to buy a car that you can restore which you enjoy.

[Medusah]

50 pounds are nothing.  If you had won 50.000 we could talk.  If I had won 50 pounds, I would just take my family out for dinner.

[Hatchy]

what you should do with your grand prize, depends on your goals and risk tolerance. if you have confidence and patience on the growth of Bitcoin and you are willing to accept the risk of volatility then buying more Satoshi would be a good option. but if buying more bonds will have a more stable and secured option for your savings and you could actually win more prizes in the future, then go for it.
no one should tell you what to do with your grand prizes. you should make such decisions on your own from your instincts, so you wouldn't come later in the future creating another post and blaming someone on the advise he or she gave you concerning this matter.

[Zlantann]

putting a not much money and expecting it to multiply 4-5x right away is a bad idea and expectation approaching the  market. Keep it for yourself right now and educate yourself first as to how and where you better put it. The best time to invest is when you no longer look for other people's advice for your own financial decisions. It's your money. It's your fund your putting into risk so why taking others opinion.
Create your own conviction first. It's no the doubling or tripling of the Bitcoin price. It should be surviving and preserving your capital is the most important.

Every investor expects to make a profit. It is not proper to put your trust that an investment will get to a particular price but it is not wrong to expect it to increase more than 5 times. The truth is I am expecting my Bitcoin holding to multiply more than 10 times but my financial plans don't depend on my lofty expectations. @Jet Cash is an experienced Bitcoin maximalist and understands financial matters but I think he just wants to gamble with his fifty pounds and wants to get the response of members.   

50 pounds are nothing.  If you had won 50.000 we could talk.  If I had won 50 pounds, I would just take my family out for dinner.

Fifty pounds is a whole lot of money if you invest it. If you take your family out ten times because you feel the money is irrelevant, you have just lost 500 pounds that would have been enough to invest based on your standard. Fifty pounds is enough to buy about  0.003 BTC which is someone's monthly salary in my country. Instead of spending that insignificant sum on luxury, it will be better to gamble it in Bitcoin.     

[Jet Cash]

Never let it be said that I don't accept the advice of Bitcoin Talk members. I've decided to invest £2.50 on a double scrambled egg on toast in the Sainsbury's cafe.

What I will probably do is the see if there is a UK member here who wil sell a few Satoshi to go in the new wallet I have created for my archival node project. That is on hold at the moment, as I haven't checked inside this laptop to ensure that it really does have a second NVMe slot that will accept a 2Tb SSD. This is the thread, which is really aimed at digital nomads -
https://bitcointalk.org/index.php?topic=5450377.0

[Nwada001]

Never let it be said that I don't accept the advice of Bitcoin Talk members. I've decided to invest £2.50 on a double scrambled egg on toast in the Sainsbury's cafe.

What I will probably do is the see if there is a UK member here who wil sell a few Satoshi to go in the new wallet I have created for my archival node project. That is on hold at the moment, as I haven't checked inside this laptop to ensure that it really does have a second NVMe slot that will accept a 2Tb SSD. This is the thread, which is really aimed at digital nomads -
https://bitcointalk.org/index.php?topic=5450377.0

Even with advice from members here, the best advice is always the one given to oneself. You know what's best for you and what you want to do with the extra cash, so I will support your decision.

About buying some SATs from UK bases here in the forum, why not try some P2P options like Hodlhodl and Agoradesk but I also don't know if there is a minimum buy amount if you can purchase as little as £2.5.

[Rupok]

Not all countries have reliable bonds that you can buy to invest money in, but with P2P you can cash out the money.If you believe that you will see a sharp increase in the price of Bitcoin at the end of this year or perhaps at the beginning of next year, then you invest in Bitcoin.But your substantial money for investment will not generate a big profit as an investment.Fifty pounds isn't a whole lot of money if you invest it, which will make your bitcoin investment well worth it.But it totally depends on you

[SquirrelJulietGarden]

I won £50 in this month's draw, and the money will be paid into my bank account, and it is tax free. Now what should I do with the money? I could use it to buy more bonds, as the minimum purchase amount is only £25. Alternatively I could buy a few Satoshi, as I believe that we will see a sharp rise in the price of Bitcoin later this year, or perhaps early next year.

Do you really think that buying bond now is a good idea?

In last two months, many banks have troubles and even collapsed because of bonds. I think it is better if you use that £50 amount to buy bitcoin. At least, it will be surely that you will make the £50 to £100 at least because Bitcoin will reclaim its $69,000 all time high in next bull run. For higher price like $90,000 or $120,000, I am unsure but if it happens, you will make your £50 to £150 or £200.

[Jet Cash]

It is a government bond. In fact each bond is worth £1, and entitles you to one entry into the monthly draw. If the government does create a CBDC, then the bonds willl no doubt be converted into the new currency. Of course because the bond is a non-interest bearing instrument that is redeemable at par, you are losing purchasing power because of inflation. I hoped that I would be lucky, and the prizes would beat the inflation rate. I believe that lucky people make their own luck by exposing themselve to potentially lucky situatiuons. Secretly, I hope to win £1,000,000 to buy some woodland to preserve  and help the environment. Being realistic, it probably won't happen, but I still have the basic purchase price of the bonds as an emergency reserve fund.

[DeathAngel]

£50 isn’t going to do a lot for you in bitcoin these days but sure, go for it. You can probably x 4 your money by the end of 2025.

It depends how much bitcoin you already have though. If you don’t have a lot then do it, yes. If you have a nice stash then just buy the Mrs something because £50 isn’t going to make you rich buying bitcoin.

[Cryptomiles1]

@Jet cash, why not leave it as spare cash to your savings account maybe for emergency purpose. I understand that investment is very important and or even to enroll again with at least £25 is also good instead of stressing yourself with little cash or want to get something quickly you don't need to alter your money in the bank. In other hand if you look at buying bitcoin will yield more value then is also good to buy and hold since the market is getting ready to take a new flight.

[humanvelocity]

@humanvelocity
I gave you a couple of merits, because I thought your post was a great idea. However, I'm now a retired pensioner, and I'm not short of money for the odd special meal. I'm a bit phobic about food at the moment, and I think I would prefer to fry a nice steak and eat in on the beach.
I guess I'm not really asking for financial advice, but I'm more interested in social opinions. Both of my suggestions are gambles, and I guess your suggestion is more of a lifestyle reward. If it had been a slightly larger sum, I'd be tempted to try to find another classic car to restore, I enjoy the challenge in this.

Appreciate the merits boss 

[karmamiu]

If you are not guilty uaing that money then you should buy it, that is your decision to make. Alrhough I also believe that good things are coming this year in terms of market prices, let us also not forget that everything can happen and changes are bound to happen no matter what we say. So it is best that we are still careful.

I had also once won an amount and I trier buying crypto with that amount and kept it separately just in case.

[panganib999]

Take that 50£ and ask a girl/someone important you out for a nice dinner. Enjoy life and have a laugh because in the process of always trying to make money we often tend to lose important people around us. Lets be realistic because investing that 50£ in cryptocurrencies isn’t really gonna help you tremendously. Go have fun outside and i bet that money will be worth much more than 1£ or 2£ profit you make in 6months on cryptocurrency.

Agreed. Live a little my friend! I've seen your posts and you seem too invested in bitcoin and all its shenanigans (which is not wrong, I'm not trying to tell you how to live your life) but I guess it wouldn't hurt to take yourself out for a nice break every now and again, to maybe relieve yourself of all the stresses that you may have accumulated over time. If that still doesn't sit well with you, bitcoin maximalist as you are, You could stand to buy bitcoin with a portion of the 50 you won and the rest you keep for yourself. That way you'd have some money to ball out while the rest you put back into your system of investments and watch as it grows.

[drwhobox]

Take that 50£ and ask a girl/someone important you out for a nice dinner. Enjoy life and have a laugh because in the process of always trying to make money we often tend to lose important people around us. Lets be realistic because investing that 50£ in cryptocurrencies isn’t really gonna help you tremendously. Go have fun outside and i bet that money will be worth much more than 1£ or 2£ profit you make in 6months on cryptocurrency.

Don't see the profit for 50£ it will be big over time plus OP is OG in the forum so don't you think he can make more with this 50£?

I agreed with the dinner part and I also did kind of same with bonus money. I use my commissions from binance to spend on myself and other stuff out of business. As an example yesterday I withdraw my commission for the last month to buy playstation games. It is nice to spend occasionally on something that not involved in business rather in life.

[The Cryptovator]

I have known you for quite some time, and I understand that everyone's circumstances and preferences are unique. If you were new to Bitcoin, my suggestion would be to use that £50 to buy Bitcoin and hold it for an extended period of time. I am aware that you are not concerned about earning money from this forum via a signature campaign, where you could potentially make over £100 per week. Therefore, I am curious as to why you are contemplating investing £50 into Bitcoin when you could earn a modest amount instead. Even if the price of Bitcoin were to double after a year, you would only earn an additional £50. Thus, it may not be the best option for you to invest £50 in Bitcoin. Instead, you could use the funds to enjoy yourself on the seaside.

[lalabotax]

Although I am a Bitcoin maximalist, I believe that you should diversify your savings as an additional security measure. It is also important to keep some savings in easily realised assets. Bitcoin is great as a long term hedge against inflation, but I don't cosider it to be an easily realised asset.

In this case, it will surely depend on your money management and affordability of you to buy or not. Sometimes, people prefer to divide their money to decrease the chance, but they are stil capable to gain the profits. If you are willing to make saving on beside Bitcoin, I think that diversfying your money into Bitcoin for half and other for your sabing wil be wise enough. It is better than forcing is to invest fully in Bitcoin but we cannot afford the risk.

[Jet Cash]

I'm impressed with the diversity of replies in this thread, and almost all of them are sensible and reflect a consideration for the varity in members income, wealth and work demands. It made me realise how lucky I am to be retired with sufficient income to choose  the quality of food that I eat. I know I post about eating nettles, dandelions amd other hedgerow foods, but that is because I believe they are healthier. The fact that they are free is jast an added bonus. I prefer to buy wild caught north Atlantic salmon, rather than farmed salmon even though it is much cheaper. My concerns for the current farming practices and food preparation makes it difficult for me to eat in restaurants.

One thing that posters don't seem to have picked up on is the fact that, hopefully, this win is not an isolated instance. With premium bonds it is rather like buying a season ticket to a lottery, and, as long as you continue to hold a ticket, you are entered into a monthly draw, and when you want to withdraw your funds, you get the whole amount that you paid refunded. I have a few thousand tickets, and hopefully that will give me a continuous, but erratc, income stream. This is the alternative to the interest that is normally paid on a savings account. If I decide to use the £50 winnings to purchase Bitcoin, then I will do the same with all future winning up to £1,000. I'll review the decision at that point. In many ways it a variety on the pound cost averaging investment policy adopted by several Bitcoiners.

I try to build my Bitcoin savings by a variety of indirect means, and at the moment I am endeavouring to sell a domain name for 0.1 Bitcoin, but I am having problems in persuading the buyer to use Bitcoin. I did send him a link to this forum, and I even started a thread about it, but there is still a lot of reluctance to use Bitcoin. Silk Road and the dark web still seem to be colouring the public perception of Bitcoin, and that is why it is beneficial if forum members can publicise legal and reputable uses for Bitcoin.

Just to clarify a bit about my savings. I believe in diversification during these uncertain financial times. I have a few secret hoards of cash in case the banking system shuts down. I have an interest bearing savings account for minor emergencies, and a current account for daily use. I also have a credit card which I use to try to preserve a good credit rating. Not an easy task when you are a van dweller. I've also got a quantity of old silver coins in case fiat currencies lose all credibility, and I save scrap copper as another hedge against inflation. Despite Bitcoin's volatility, I believe it is one of the best hedges aginst inflation, and that is why I am considering the purchase of more coins. This is despite its ( to me ) current high price and volatility. I did try a bit of ungeared scalping, and made small profits, but I spent a lot of time in MacDonalds drinking coffee to do this. It was educational, but I've moved on.

If I win again next month, I'll bump this thread, and hopefull that will continue for the rest of the year. But I've just had 4 months without a win, so I am not optimistic.

[Renampun]

Although I am a Bitcoin maximalist, I believe that you should diversify your savings as an additional security measure. It is also important to keep some savings in easily realised assets. Bitcoin is great as a long term hedge against inflation, but I don't cosider it to be an easily realised asset. Of course it is a simple matter to sell coins for cash, but its volatility means that it is important to time the sale. The law of maximum perversity states that when you need to sell Bitcoin, its price will be at its lowest ebb. Bank savings accounts can enable you to withdraw funds almost immediately, but the interest rates are low. In view of these facts I decided to purchase some UK National Savings premium bonds last December. These are government bonds that don't pay any interest, but the interest from all of the savers' bonds are placed in a prize pool, and prizes are awarded each month. The prizes range from £25 to £1,000,000. I won £50 in this month's draw, and the money will be paid into my bank account, and it is tax free. Now what should I do with the money? I could use it to buy more bonds, as the minimum purchase amount is only £25. Alternatively I could buy a few Satoshi, as I believe that we will see a sharp rise in the price of Bitcoin later this year, or perhaps early next year. The million pound prize is tempting, but so is the doubling or tripling of the Bitcoin price.

if I was in your position, of course, the choice is very difficult but anyway (tell a little; I have been faced with a case that is almost similar to yours when I win a gamble, will I use the winning money to buy bitcoins or make it capital in multiples, in the end, I make it in 50:50 portions), all your choices are in your control, btw do you not have the plan to share it in 50:50 portions, I think it could be your option if you don't want to feel bad (like my case).

[John Abraham]

Now what should I do with the money? I could use it to buy more bonds, as the minimum purchase amount is only £25. Alternatively I could buy a few Satoshi, as I believe that we will see a sharp rise in the price of Bitcoin later this year, or perhaps early next year. The million pound prize is tempting, but so is the doubling or tripling of the Bitcoin price.

Hi, Jet Cash. If I am not wrong, You will be 81 on June 20. Keep that Cash for yourself and buy a good thing for yourself on your Birthday. Life is too short. You don't have to invest or save everything you win or earn. Sometimes we make and gather many things but cannot enjoy them. We don't have enough time to enjoy our life. We spend the most time on earning and savings for the future. But where is the future? What is the future? If you are old enough. Suppose you are over 70's. Enjoy every day. Don't overthink.

As You said many times, You are a Bitcoin Maximalist, and I believe you already hold a good portion of Bitcoin. Let it grow, and enjoy your fiat money. Give some good gifts to yourself. I may not be able to remember your Birthday on the exact day. But Happy Birthday in advance, Jet Cash. Live Long and Stay Strong.

[YUriy1991]

@humanvelocity
I gave you a couple of merits, because I thought your post was a great idea. However, I'm now a retired pensioner, and I'm not short of money for the odd special meal. I'm a bit phobic about food at the moment, and I think I would prefer to fry a nice steak and eat in on the beach.
I guess I'm not really asking for financial advice, but I'm more interested in social opinions. Both of my suggestions are gambles, and I guess your suggestion is more of a lifestyle reward. If it had been a slightly larger sum, I'd be tempted to try to find another classic car to restore, I enjoy the challenge in this.

Alright, well, @humanvelocity, looks like you have a few options to choose from. Fine dining out, delicious steaks on the beach, or the thrill of restoring a classic car. But let me ask you this, why not eat your steak on the beach while restoring a classic car?

After all, what would life be without a little adventure and challenge. Talk about living a dream!

[Jet Cash]

I'm starting to get a feel for the variations in prices around the world. I'm in Hampshire in England, and that is a fairly prosperous county on the south coast. It includes Winchester, which is the former capital of England, well when it was largely Wessex. It also includes Winchester college which is one of the major public schools ( remember that in England public schools are the expensive private boarding schools like Eton), and the second most important crown court after the Old Baiuley. A single room in an out of town motel costs about £100 per night, and a decent bottle of wine in a good restaurant is likely to cost more than £50. It looks as if a Big Mac costs £4.79 according to a delivery company, although that isn't something thatr i would buy. A cleaner in the local supermarket earns £10 per hour before taxes. Petrol is currently £1.55 per litre in the cheaper supermarkets. That is for the lower calorific E10 variety, that the government is trying to get us to use under the guise of saving the planet. E5 petrol that gives me more miules per gallon, and is thus cleaner in reality is about 6 pence more expensive. Have you noticed that the green initiate that is supposed to be saving the planet always seems to result in the destruction of green trees and vegetation to be replaced by concrete, glass and other inert surfaces. I think I will start to refer to it as the grey new initiative.
Anyway back to the topic of this post. I am now certain that I will use the £50 to purchase a few Satoshis ( should the plural be Satoshii ). And I will use that to test my new Bitcoin node when I have downloaded the whole blockchain. It will be interesting to see how efficient an internal NVME M.2 will be. With the way things are going it will probably need to be a 2Tb version, and I hope this machine has a second slot for such a drive.

[Coin_trader]

Now what should I do with the money? I could use it to buy more bonds, as the minimum purchase amount is only £25. Alternatively I could buy a few Satoshi, as I believe that we will see a sharp rise in the price of Bitcoin later this year, or perhaps early next year. The million pound prize is tempting, but so is the doubling or tripling of the Bitcoin price.

£25 will not gonna increase your winning chance rate by high percentage. Actually, it’s almost negligible if you will reinvest it on bonds while it doesn’t have any interest.

Bitcoin is your best option here to maximize your profit in long teem since this money is just an extra cash for you. You can consider it as DCA purchase if you will regularly use the lottery prize on purchasing Bitcoin. This will give you huge return in the future compared if you will just reinvest it on bonds with small amount. Maybe you can reinvest once your funds on Bitcoin is already huge.

[yazher]

That's well advised though because nowadays you don't know which businesses are yet to fall because of these conflicts all around the world and to have multiple sources of income with different choices of currencies and trades, you will easily survive if there will be chaos in the future because you have a variety of choices to fund yourself but most people don't really care that way because they only focus on today's happening. most of them don't have any future plans, especially in financing themselves and keeping their money in more trusted sources.

[KiaKia]

Must you spend any extra money that comes your way? Turn the money into USD and keep it, there are many ways you can grow up with 51$ using crypto, if you know how to trade 50$ is enough to start.

Some people are accumulating Bitcoin using 50$ every week or month, if you think you can do the same then start from somewhere, Rome was not built in one day, you can also look onto other crypto projects, and you can make good money with 50$ invested in q good project and you can later exchange your profit to Bitcoin for long term hold.

[DiMarxist]

We don't decide for person to invest in bitcoin, but is person's choice to invest, you can use it investments or something things that can give you return of a profit. If you you want to invest, invest in other crypto projects that can give you a little profits or use that £50 to use small business that will gain from it. And if you want to buy bitcoin, buy and hold for long-term for you to get double of your your money that you use to invest.  Therefore, I am curious as to why you are contemplating investing £50 into Bitcoin when you could earn a modest amount instead. Even if the price of Bitcoin were to double after a year, you would only earn an additional £50.

[m2017]

Take that 50£ and ask a girl/someone important you out for a nice dinner. Enjoy life and have a laugh because in the process of always trying to make money we often tend to lose important people around us. Lets be realistic because investing that 50£ in cryptocurrencies isn’t really gonna help you tremendously. Go have fun outside and i bet that money will be worth much more than 1£ or 2£ profit you make in 6months on cryptocurrency.

Just as 50£ won't get you all the pleasures in the world, so investing 50£ won't make you a millionaire. Actually, you are right, humanvelocity.

"Easy come - easy go": Spending 50£ is not such a bad idea, because it's prize money that can be treated as a bonus.  No effort was required for this, which means that if you had these 50£, that it were not there, nothing would have changed.

~snip

What to do with these 50£? It can give them to someone from relatives, to whom it will help or simply please. Yes, even to anyone in need on the street.

Better yet, buy bitcoin and give it to your friend to join bitcoin-community.

[Z390]

OP,  what are you expecting people to say or what kind of advice are you expecting people to give you? this is a bitcoin discussion thread and yes many people will say that you should buy Bitcoin instead but I would like to ask if you have any other source of income because $50 invested in Bitcoin today won't give you a better return tomorrow so if you really want to continue investing in Bitcoin then this is a good time to start.

You can invest this $50 you won into bitcoin but know that it is not enough for a long-term hold, make sure you keep dollar cost averaging into Bitcoin starting from now before bitcoin halving get here probably between April of the year 2024.

Between this period of time it will be too late to keep buying Bitcoin again because after every halving, bitcoin value tends to grow higher and the wisest way to make money out of Bitcoin investment is buying the dips and when the dips are no longer available it is over.

[Victorik]

Take that 50£ and ask a girl/someone important you out for a nice dinner. Enjoy life and have a laugh because in the process of always trying to make money we often tend to lose important people around us. Lets be realistic because investing that 50£ in cryptocurrencies isn’t really gonna help you tremendously. Go have fun outside and i bet that money will be worth much more than 1£ or 2£ profit you make in 6months on cryptocurrency.

Nice advise I must say.
I have personally experienced that the more you want to be greedy with money, you tend to lose it.
Like you said, let go and enjoy his money before you end up losing it.

[Mate2237]

Your topic question would have been asked by a newbie, you are a legendary member and have known what is bitcoin and it important, so if you won £50, you know to do with it because you are an experience person in the ecosystem.

If I were you, I would. Have use it to invest what will bring more profit to my extra income. If buying of bonds will profit you then you go for it. And that was why I said, you are man of your own decisions. By right you do have to create thread for it but for discussion sake. You know the most valuable asset among the two. Since you said, you want to diversify your investment then that is a good plan. And one thing I will say, remember you got the money from the purchase of the bonds. So don't rush to invest on bitcoin but still try the bonds.

[bayu7adi]

When I receive prizes or rewards from events or lotteries, I have two goals in mind. I have received them several times and before spending them, I always calculate the net profit from the prize because sometimes I pay some money to get it.

The first goal is to shop as a self-reward to motivate myself, the amount depends on my needs but it is definitely not more than 33% of the total prize I receive. I usually enjoy eating expensive food that I have never tasted before or buying sports equipment because I love sports. I do this purely because I like it and I feel happy when I buy or do it.

The second goal is to invest. The amount is always more than 66% of the total prize I receive. Sometimes I buy Bitcoin through a local exchange and sometimes I buy some necessities that will generate more money. This is because I also have other businesses in the real world. But the main point is to spend most of it on productive things, whether it is cryptocurrency or anything else that you think can bring in more money.

[hannahB4]

Nothing in your write-up denotes you own a Bitcoin before now, just that you know about Bitcoin. Naturally this is your money you have the right to do whatsoever you please with it from the point you raised but for me, I will see from this angle, which one will yield more profit to me in the next one year, after reaching a conclusion you act on your decision.

[Fivestar4everMVP]

Well, £50 is not so much money and can't really buy much in terms of investing the money in bitcoin, though this would have really been a great decision had it been the money was lager, reason being like you stated, we all are anticipating a bull run towards the end of this year or early next year, and if you buy £50 worth of bitcoin right now at this current price, even if the price of bitcoin skyrockets to $100,000, profit made from your £50 wouldnt be so significant..

So If I were you, I think I would buy more bonds with the money, so far I am already holding a bitcoin bag somewhere, but if it be that I am not holding a single bitcoin or satoshi, I would buy bitcoin with the money, for a start.

[darkangel11]

Anyway back to the topic of this post. I am now certain that I will use the £50 to purchase a few Satoshis ( should the plural be Satoshii ). And I will use that to test my new Bitcoin node when I have downloaded the whole blockchain. It will be interesting to see how efficient an internal NVME M.2 will be. With the way things are going it will probably need to be a 2Tb version, and I hope this machine has a second slot for such a drive.

Great choice, although being your age, I can't say with certainty that I'd do the same.
At the moment I'm still in my 30s and I'm a believer in bitcoin. I just know it's going to be worth more than it is now and that this wasn't it's last ATH in 2021. Knowing that and having years to wait (hopefully) I'm ready to put my trust in bitcoin and see how it goes. I bought years ago, not expecting much. I accepted that it could go up only 100% over the next 10 years and felt good holding it. It went up more than 10 times what I expected and I know it's going to keep on giving to people who aren't in a hurry and don't react to every market fear and panic.
To me buying and holding bitcoin is an obvious choice and it's probably the best thing you can do with your money, provided that you're able to forget about it for at least 3 years. For older people who might want to finally enjoy life and spend their savings, I don't know. Depends on their background, health, family needs and many other things.

[fintechguruji]

Before investing in Bitcoin, it's important to consider your financial goals. Are you looking for a long-term investment or a short-term gain? Bitcoin is known for its volatility, so it's important to have a clear understanding of your financial goals before investing.

Bitcoin is a complex market, and it's important to do your research before investing. Look at the current market trends, historical data, and expert opinions to get a better understanding of the market.

Bitcoin is a high-risk investment, and it's important to understand the risks before investing. The market is highly volatile, and there is no guarantee of returns. It's important to be prepared for the possibility of losing your investment.

If you do decide to invest in Bitcoin, it's important to start small. Invest only what you can afford to lose and gradually increase your investment as you become more comfortable with the market.

Also Read: https://fintechguruji.in/bitcoin-btc-price-prediction-and-forecast/

[serjent05]

putting a not much money and expecting it to multiply 4-5x right away is a bad idea and expectation approaching the  market. Keep it for yourself right now and educate yourself first as to how and where you better put it. The best time to invest is when you no longer look for other people's advice for your own financial decisions. It's your money. It's your fund your putting into risk so why taking others opinion.
Create your own conviction first. It's no the doubling or tripling of the Bitcoin price. It should be surviving and preserving your capital is the most important.

Bitcoin trend history somehow gives a hint for 4-5x right now.  It is not that a person is expecting without a base.  It is possible a normal occurrence in Bitcoin market after Bitcoin halves and obviously, as an investor, you wouldn't dare to miss it.  

I do agree that expecting without any solid bases is a bad thing but if there are hints and history then it would be a waste if we failed to invest in such a market.

Anyway back to the topic of this post. I am now certain that I will use the £50 to purchase a few Satoshis ( should the plural be Satoshii ). And I will use that to test my new Bitcoin node when I have downloaded the whole blockchain. It will be interesting to see how efficient an internal NVME M.2 will be. With the way things are going it will probably need to be a 2Tb version, and I hope this machine has a second slot for such a drive.

Interesting idea, would it make a difference if you use different and faster internal storage?

[batang_bitcoin]

Never let it be said that I don't accept the advice of Bitcoin Talk members. I've decided to invest £2.50 on a double scrambled egg on toast in the Sainsbury's cafe.

That's yummy. Jet, you can do whatever you want with that 50 as you've said that you're not having any problems and you're retired already.
If that was me, I'll enjoy a meal with my family and eat outside but that was just me as that's what I did just this afternoon.

Anyway back to the topic of this post. I am now certain that I will use the £50 to purchase a few Satoshis ( should the plural be Satoshii ). And I will use that to test my new Bitcoin node when I have downloaded the whole blockchain. It will be interesting to see how efficient an internal NVME M.2 will be. With the way things are going it will probably need to be a 2Tb version, and I hope this machine has a second slot for such a drive.

NVME M.2 is quick and if you haven't used such before, you'll be surprised how quick and efficient it is.

[Bananington]

So If I were you, I think I would buy more bonds with the money, so far I am already holding a bitcoin bag somewhere, but if it be that I am not holding a single bitcoin or satoshi, I would buy bitcoin with the money, for a start.

Everyone will have an opinion on this money on how best to use it even though the OP has already decided what he will use if for which is for bitcoins. Everybody's answer is good enough for them but for me the best use of such money if for further investment to multiply it and get more. So whether it is used to buy more bonds, invest more in bitcoins, they are investments to me and are good ways to spend the money.

[CryptSafe]

Literally, the €50 is not a big deal for some while it is for some. I will be speaking from both sides now;

When it is a big deal for some, it means that such amount can go a long way to sort out things for those who deem it fit for Dem. In as much as it is a big deal, for them they would want to save and invest in it and if it be bitcoin, I will advise since it is  an investment, they should invest as little they could afford to loss if a short term investment but if a long-term then it is fine

When it is not a big deal to some, it means that such amount of money is not new to them as they have it enough and I would still advise as it is not a big deal, they can just put it in some investment to generate more funds like buying bitcoin and holding it for a long term.

I think the options are quite alright with me.

[ultrloa]

Since that is free money given to you much better if you just use it to reward yourself like buying some material things which is useful to you so that you can remember that you bought this thing out of your winning from what you participated.

For sure you have a lot of holdings already since you said you are a bitcoin maximalist, that £50 is small amount only and for sure you can earn more than that for other ventures you do. There's nothing wrong to treat ourselves sometimes since we need that to ease our stress accumulated from our multiple investments.

[Rigon]

Although I am a Bitcoin maximalist, I believe that you should diversify your savings as an additional security measure. It is also important to keep some savings in easily realised assets. Bitcoin is great as a long term hedge against inflation, but I don't cosider it to be an easily realised asset. Of course it is a simple matter to sell coins for cash, but its volatility means that it is important to time the sale. The law of maximum perversity states that when you need to sell Bitcoin, its price will be at its lowest ebb. Bank savings accounts can enable you to withdraw funds almost immediately, but the interest rates are low. In view of these facts I decided to purchase some UK National Savings premium bonds last December. These are government bonds that don't pay any interest, but the interest from all of the savers' bonds are placed in a prize pool, and prizes are awarded each month. The prizes range from £25 to £1,000,000. I won £50 in this month's draw, and the money will be paid into my bank account, and it is tax free. Now what should I do with the money? I could use it to buy more bonds, as the minimum purchase amount is only £25. Alternatively I could buy a few Satoshi, as I believe that we will see a sharp rise in the price of Bitcoin later this year, or perhaps early next year. The million pound prize is tempting, but so is the doubling or tripling of the Bitcoin price.

With £50 you get a small amount of bitcoin and I think you won't get much profit after holding those bitcoins for a long time. But this £50 of yours you can buy bonds again and participate in the competition there. If you are lucky, you may win big money later on. If you think this £50 is too much then why not use the legendary account you have? If you can use your account for something then you can earn good amount of money every week and use it for investment. I'm not giving you advice I'm telling you subject to your receipt.

[ChiBitCTy]

Although I am a Bitcoin maximalist, I believe that you should diversify your savings as an additional security measure. It is also important to keep some savings in easily realised assets. Bitcoin is great as a long term hedge against inflation, but I don't cosider it to be an easily realised asset. Of course it is a simple matter to sell coins for cash, but its volatility means that it is important to time the sale. The law of maximum perversity states that when you need to sell Bitcoin, its price will be at its lowest ebb. Bank savings accounts can enable you to withdraw funds almost immediately, but the interest rates are low. In view of these facts I decided to purchase some UK National Savings premium bonds last December. These are government bonds that don't pay any interest, but the interest from all of the savers' bonds are placed in a prize pool, and prizes are awarded each month. The prizes range from £25 to £1,000,000. I won £50 in this month's draw, and the money will be paid into my bank account, and it is tax free. Now what should I do with the money? I could use it to buy more bonds, as the minimum purchase amount is only £25. Alternatively I could buy a few Satoshi, as I believe that we will see a sharp rise in the price of Bitcoin later this year, or perhaps early next year. The million pound prize is tempting, but so is the doubling or tripling of the Bitcoin price.

Hey Jet, hope all is well buddy haven't spoken with you in some time.  As I've blabbed about a million time on here I'm a financial advisor, so I always like to read these types of posts to see what people say/ask.  I love learning about new products and I have to say I've never heard of anything like these "UK National Savings premium bonds" that you mention have no interest but are held in a pool which pays out wins like a lotto..this is an interesting concept.  I'm curious how much is in each pot, how often do people win, and how much of the pots holdings get paid out (like percentage wise).

I of course agree with you that diversification is key. Have always been a fan of everyone owning some bitcoin in their portfolio (as long as you're financially able to do so).

And that's funny you mention how bitcoin is always down right when you need to sell..so true!

[Bushdark]

As your name implies Jet Cash, I think your purpose of asking this question is just to get some random views of what our opinion could be about investing and earning without taking too much risk. For me I would rather advise you to keep doing what you are doing or better still, try another alternative to so if it could earn you more money. It is good for us to diversify our investment especially going into things that would earn us some good profits too.

 Some times we might not know that there is a treasure in a particular place until to start digging. Invest in other things and see how far it would go. I like trying new things which is why exploring is another way to diversify our investment.

[qwertyup23]

Since that is free money given to you much better if you just use it to reward yourself like buying some material things which is useful to you so that you can remember that you bought this thing out of your winning from what you participated.

For sure you have a lot of holdings already since you said you are a bitcoin maximalist, that £50 is small amount only and for sure you can earn more than that for other ventures you do. There's nothing wrong to treat ourselves sometimes since we need that to ease our stress accumulated from our multiple investments.

I guess this depends on how you view your BTC investments- do you aim for short or long term? The answer to that question may at least give you a foundation on how you would approach on investing or using your free 50 pounds on the process.

Personally if I were given such money, I might use it personally since a money given for free feels that I should spend it to treat myself with. Unlike the money that I used in BTC investment, they are purely for investing in which the realization of profit may come later.

Take advantage of the adrenaline and emotions that you felt when you received the free money and go treat yourself with nice stuff/food for the day.

[blue Snow]

I won £50 in this month's draw, and the money will be paid into my bank account, and it is tax free. Now what should I do with the money?

I certainly can't advise you because you are Legendary and have been a long time here. I am not sure about my feeling, but when I read this this sounds is like sarcasm.
You should understand how to manage it, I am just new here but know how to manage less money than you, like $10. Of course, The Bitcoin enthusiast will be bought even if it's only have $1, because he is very believing and doesn't want to miss the moment even if it is 1 cent. He know the future, and know what happen in bitcoin next.

I don't know why if legendary here still doubts and asks how to invest,  because bitcoin it's been 13 years.

[Jet Cash]

For those who haven't heard of the UK premium bonds, here is a link to the government site.
https://www.nsandi.com/products/premium-bonds
The interest rate is 3.3% at the moment, and it is tax free. This interest is put into a prize fund, and prizes are awarded  in a monthly draw. They range from £25 up to £1,000,000, and 2 million pound prizes are awarded every month. The odd of a £1 bond winning a prize are 1 in 24,000, and that is repeated for every month that you hold bonds. You can see that it isn't free money, but money won from gambling with the interest. I hold a few thousand bonds, so I am hoping for some more wins this year.

As has been mentioned, I am 81 in June, and have hit middle age now. I have had a clourful and rewarding life, and as a result I have managed to dispose of ( read lose ) several million pounds, and I think it is time for me to behave responsibly. I am a true green environmentalist, and not one of the new green deal proponents who want to turn every green into an inert brown or grey mass. Every government "green" initiative is designed to destroy the planet, and to raise taxes or increase control over the population. Just look at the CO2 obsession. The real causes of global warming are nothing to do with CO2, but are caused by solar activity and sub-marine volcanic eruptions. That is why the arctic is warming, and the antarctic isn't. My goal is to raise a £million to buy somewoodland with a stream, and to preserve that for the benefit of the wildlife, the planet, and my health. A  million pound win woulkd be spent on this, but I accept that my chances of winning this must be north of !:100,000,000. The appeal of Bitcoin and the Premium bonds are that they both give me the remote chance of winning a million, and preserving my capital at the same time. I have looked atr some other options, and I may post about them sometime. I'm also trying to build slowly towards my million with a few side hustles. I bought a couple of Volvo 740 cars for example. I paid £350 for a 1988 saloon with engine and other problems, and I have fixed the engine problems, and I use it as a daily driver. It's still a bit of a rat rod, but it's probably worth about £1,500 now. I bought an estate (wagon in american) for £850, and that is in almost concours condition. It has a stearing problem which I believe is caused by failing rubber bushes. I'll replace those wil more reliable neoprene ones. Once I have done that, the car should be worth around £5,000. The problenm is that I love both cars, and I want to keep them. I've got far too much stuff in storage, and I need to do some serious disposal work, but I enjoy lying on the beach admiring the bikinis too much.

So why did I start this thread? I love Bitcoin and the Bitcoin Talk foum, and it is a sadness to me that so many of the valuable members from the past have left. I even enjoyed the street fighting posts of Tman. It is obvious from this thread that there is an incredible diversity of experience and wealth in this forum, and I hope that my readers will be able to draw on this to help them to make their own financial decisions. Almost all of the replies have some elements of good advice, and I am encouraged by this. My own circumstances are extremely uinusual, and I wouldn't really expect anyone to empathise with me, but I do consider all of the opinions. Bitcoin is unusual in that it is a resource that can be beneficial whatever your wealth may be. It ranges from the purchase of a few Satoshi up to over 1,000 Bitcoin, and that can help almost everyone to gain some protection from the impending financial collapse. Just be careful, and don't overstretch yourselves, and I don't believe in gearing ( leverage ), Bitcoin is too volatile for anyone but professional speculators to indulge in that.

[fuguebtc]

I don't know why if legendary here still doubts and asks how to invest,  because bitcoin it's been 13 years.

Why don't you think more openly? I don't think he needs anyone's financial advice here. As I know, he is over 80 years old, and he knows enough what he is doing with his money. Furthermore, £50 is not a huge amount and will make a difference when investing in bitcoin, and there is nothing wrong with him asking this question. In our life, there are many things worth investing in, not just bitcoin, and sometimes investing is not only for profit, but for many people, it can be fun and entertainment.

[Rigon]

For those who haven't heard of the UK premium bonds, here is a link to the government site.
https://www.nsandi.com/products/premium-bonds
The interest rate is 3.3% at the moment, and it is tax free. This interest is put into a prize fund, and prizes are awarded  in a monthly draw. They range from £25 up to £1,000,000, and 2 million pound prizes are awarded every month. The odd of a £1 bond winning a prize are 1 in 24,000, and that is repeated for every month that you hold bonds. You can see that it isn't free money, but money won from gambling with the interest. I hold a few thousand bonds, so I am hoping for some more wins this year.

I have never heard of UK premium bonds before. But by visiting the link you provided I got a lot of idea about UK Premium Bonds. You hold tens of thousands of bonds here. Maybe you haven't won a big bond yet. But I pray for you to have a big bond win with the tens of thousands of bonds you have deposited.

So why did I start this thread? I love Bitcoin and the Bitcoin Talk foum, and it is a sadness to me that so many of the valuable members from the past have left. I even enjoyed the street fighting posts of Tman. It is obvious from this thread that there is an incredible diversity of experience and wealth in this forum, and I hope that my readers will be able to draw on this to help them to make their own financial decisions. Almost all of the replies have some elements of good advice, and I am encouraged by this. My own circumstances are extremely uinusual, and I wouldn't really expect anyone to empathise with me, but I do consider all of the opinions. Bitcoin is unusual in that it is a resource that can be beneficial whatever your wealth may be. It ranges from the purchase of a few Satoshi up to over 1,000 Bitcoin, and that can help almost everyone to gain some protection from the impending financial collapse. Just be careful, and don't overstretch yourselves, and I don't believe in gearing ( leverage ), Bitcoin is too volatile for anyone but professional speculators to indulge in that.

From the position you are in and still loving this bitcoin forum with all your heart and soul, my love for you grew even more. But my earnest request to you is to give some time here so that we can learn something good from you. There may not be many who have worked with you here. We are very lucky indeed that we still have you. I pray to my creator that you live long.

[mvdheuvel1983]

Investing in Bitcoin and in bond are both brilliant. You are well informed on different  investments however it seems like you'd favor Bitcoin investment over the other because.
You have already mentioned that Bitcoin has the potential to rise and what I think is that the more you have, the higher profit you get during the bull run. I can conclude that if eventually Bitcoin doesn't rise, your risk management strategies are airtight.

[Broadanbig]

As has been mentioned, I am 81 in June, and have hit middle age now. I have had a clourful and rewarding life, and as a result I have managed to dispose of ( read lose ) several million pounds, and I think it is time for me to behave responsibly. I am a true green environmentalist, and not one of the new green deal proponents who want to turn every green into an inert brown or grey mass.

This is my first time to have a conversation in terms of replying chat of a member at such age. It is rare to see such here. They might be available but do not want to say it for the fear of being trolled by possible scammers or otherwise. I checked and you are a Legendary and have been on this platform for so long devoting your time and energy to developing this board which I really admire. Just like a member said, it would be good you be around atleast for a little while so we could learn from your knowledge and experience as we still have alot too energy at this age to deliver to this platform.

Permit me to suggest if you could create a thread on the reputation board there you could write a short brief or story of your encounter with this platform, how you got to scale through as a newbie to the legendary you are today, your most challenging moments as a member here, your most happy moments, members you encountered as a result of your activities, steps you took in growing this far. It will be very much appreciated by  members as many would want to key into it for more and better knowledge based on your age as you have stated and how you were able to cope with it since bitcoin is a new tech quite different from the tech of your youth age then.

[goldkingcoiner]

Bitcoin is always a wise investment. Although not putting all your eggs into one basket is also considered a wise choice in the world of investing.

I personally believe that it would be smart to invest any amount of extra money into Bitcoin, and that is exactly what I would do, if I were you, but I am not going to give you financial or investment advice. Certainly not over 50 Pounds... Is it really worth considering what to do with such a small amount of money in the first place? It is not a life-changing amount of cash.

You might want to save up a bit more money because you should consider the fees for each purchase. If you invest small amounts of money regularly, the fees will add up and eat into your investment.

[arwin100]

So why did I start this thread? I love Bitcoin and the Bitcoin Talk foum, and it is a sadness to me that so many of the valuable members from the past have left. I even enjoyed the street fighting posts of Tman. It is obvious from this thread that there is an incredible diversity of experience and wealth in this forum, and I hope that my readers will be able to draw on this to help them to make their own financial decisions. Almost all of the replies have some elements of good advice, and I am encouraged by this. My own circumstances are extremely uinusual, and I wouldn't really expect anyone to empathise with me, but I do consider all of the opinions. Bitcoin is unusual in that it is a resource that can be beneficial whatever your wealth may be. It ranges from the purchase of a few Satoshi up to over 1,000 Bitcoin, and that can help almost everyone to gain some protection from the impending financial collapse. Just be careful, and don't overstretch yourselves, and I don't believe in gearing ( leverage ), Bitcoin is too volatile for anyone but professional speculators to indulge in that.

Its fine to have a thread like this since we can see how people deal up with those amount given and to see how there sentiments towards on their advice given since we can see different opinion about what to do if they are in your shoe. To many post to enjoy here coming from different members and also to the people you mentioned since we can see different perspective on certain topics to know more deeper about it and that is the use of this forum since we may know some information base on multiple opinions of people.

We really need to be more careful on our expectation bitcoin since this is risky investment and weak hands are the one prone to lose their money so they should learn how volatile the market before they can go in.

[Jet Cash]

@Broadanbig
Thanks for the kind words, but Bitcoin and Bitcoin Talk were very different when I first joined. It was much more experimental, and there were more security risks when making online fiat payments. I don't remember there being signature campaigns either. The forum now seens to include many members who see it as an income source, and will sell any Bitcoin they may receive for fiat currencies. Many of the former members have become extremely wealthy, and have left. I don't think my experiences as a not very significant newbie would be of much interest. They would be about as useful as my experiences with my first "computer" ( an IBM 421 using plug boards and punched cards ), or my first motor cycle - A Matchless 350 with girder forks and a magneto.

[Zanab247]

@humanvelocity
I gave you a couple of merits, because I thought your post was a great idea. However, I'm now a retired pensioner, and I'm not short of money for the odd special meal. I'm a bit phobic about food at the moment, and I think I would prefer to fry a nice steak and eat in on the beach.
I guess I'm not really asking for financial advice, but I'm more interested in social opinions. Both of my suggestions are gambles, and I guess your suggestion is more of a lifestyle reward. If it had been a slightly larger sum, I'd be tempted to try to find another classic car to restore, I enjoy the challenge in this.

Going through your write up, I knew you are not asking for financial advice than to attract people to be more focus on gamble which is the hardest way to make money when you don't have the knowledge of gamble. But it will be better to let you know that you can still do something that will make your children to benefit when you pass out from this sinful world, and It will be better to start investing in BTC since you are a pensioner and you used to receive monthly salary, I believe this is the right time to save money for your children to enjoy. Don't forget that anything you sow for your children will surely grow higher to bring potential fruits that will sustain your children and you for the rest of your life.

[benalexis12]

@humanvelocity
I gave you a couple of merits, because I thought your post was a great idea. However, I'm now a retired pensioner, and I'm not short of money for the odd special meal. I'm a bit phobic about food at the moment, and I think I would prefer to fry a nice steak and eat in on the beach.
I guess I'm not really asking for financial advice, but I'm more interested in social opinions. Both of my suggestions are gambles, and I guess your suggestion is more of a lifestyle reward. If it had been a slightly larger sum, I'd be tempted to try to find another classic car to restore, I enjoy the challenge in this.

It's a good thing that you're enjoying your life now, although we know that most of the people around the world don't enjoy life in reality because of the lack of finances and you're lucky because you're one of those who don't have problems with it.
But you take the chance to enjoy everything you have in your life now. And I rarely see anyone who likes classic cars. It's true what someone said that made you happy too, maybe if I win 1000$ I can invest in Bitcoin but that kind of amount is better to spend it for the person I love to date.

[crypticj]

I recommend using any extra money t buy bitcoin. You will buy little by little and eventually, you will have one whole bitcoin. I think it's important to start this process and don't think about how many bitcoins you are actually buying, it could be £10, £15, or £50, but it's still good.

And even if you just invest £50, you will still get some gains when bitcoin will go up. So it's a win-win situation.

[Texac]

@humanvelocity
I gave you a couple of merits, because I thought your post was a great idea. However, I'm now a retired pensioner, and I'm not short of money for the odd special meal. I'm a bit phobic about food at the moment, and I think I would prefer to fry a nice steak and eat in on the beach.
I guess I'm not really asking for financial advice, but I'm more interested in social opinions. Both of my suggestions are gambles, and I guess your suggestion is more of a lifestyle reward. If it had been a slightly larger sum, I'd be tempted to try to find another classic car to restore, I enjoy the challenge in this.

Going through your write up, I knew you are not asking for financial advice than to attract people to be more focus on gamble which is the hardest way to make money when you don't have the knowledge of gamble. But it will be better to let you know that you can still do something that will make your children to benefit when you pass out from this sinful world, and It will be better to start investing in BTC since you are a pensioner and you used to receive monthly salary, I believe this is the right time to save money for your children to enjoy. Don't forget that anything you sow for your children will surely grow higher to bring potential fruits that will sustain your children and you for the rest of your life.

as a retired person, you don't need to save anymore.  Saving at that age is useless, enjoy life for yourself instead.  saving at that age is useless, enjoy life for yourself instead.  If you have children, now is the time for them to take care of you, not you to worry and save for them.  they need to be mature and independent in everything, you should not be so wrapped up in them that they become weak when you are not around.
in the OP's case, I'd rather gamble with stocks than invest £50 in bitcoin.

[CYBER_COWBOY]

I always buy bitcoin when I get some money over even if its as low as $8... I can do this several times each week and the amounts is all from around $8 to $25.
In the end the total amount gets quite high.
Maybe its not worth to invest a small amount just once, but do it over and over again is not bad.

[Jet Cash]

I worked for the London Stock  Exchange for a while, and I've made money in the past from share dealing. I don't think I could do it now. I don't respect most of the big corporations, and I have no empathy with, or understanding of the modern consumer. I think you have to be stupid to buy a Tesla, but it is the fastest grown, and, I belive, the largest motor manufacturer now. Why anyone would want to purchase a limited use, environmentally damaging expensive vehicle, that can be bricked at the whim of the manufacturer, I cannot understand. I have much the same opinion of Apple products. As you can see, you shouldn't take any financial advice from me. I hope this thread has been helpful for members though. There are many suggestions that you can apply  to  your personal financial situation.

If I could make any suggestion, it would be to get out iof the shackles of a bricks and mortar life style. Get yourself a large van, and convert it into a comfortable living space. You wouldn't believe how much freedom it gives you, and how much it increases your health by reducing stress related to government controls and restrictiuons. I wasn't locked down during the Covid panicdemic, and I avoided the crippling injections.

[worle1bm]

If you really want to invest money then you should proceed further without asking for our advice as these small investment will also make change in future when it will be worth more.But you can also save that amount for yourself as others have said here to get something for you as winning prizes gives us joy which can be celebrated in different ways so if buying bitcoin is what you have planned go ahead but if have other plans focus on them because you will get more chances of investment later on also.Although investment is good but planning and management is necessary in everything.

[touseefahmad1999]

It's great to hear that you recognize the importance of diversifying your savings and not relying solely on Bitcoin as an investment. While Bitcoin can be a great long-term hedge against inflation, it is important to have a mix of assets that can provide more immediate liquidity and stability.

As for what to do with your prize money, it ultimately comes down to your personal financial goals and risk tolerance. If you are looking for a low-risk option with a chance of winning more prizes, buying more UK National Savings premium bonds could be a good choice. On the other hand, if you are comfortable with the risk and believe in the long-term potential of Bitcoin, buying some Satoshis could be a good way to participate in potential future growth.

It's important to note that investing in Bitcoin carries risks, as its value can be highly volatile and subject to sudden changes. Therefore, it's important to only invest what you can afford to lose and to not put all of your savings into Bitcoin.

Ultimately, the decision on how to use your prize money should be based on your personal financial goals and risk tolerance. If you are unsure, it may be a good idea to speak with a financial advisor who can provide personalized advice based on your specific situation

[GigaBit]

Although I am a Bitcoin maximalist, I believe that you should diversify your savings as an additional security measure. It is also important to keep some savings in easily realised assets. Bitcoin is great as a long term hedge against inflation, but I don't cosider it to be an easily realised asset. Of course it is a simple matter to sell coins for cash, but its volatility means that it is important to time the sale. The law of maximum perversity states that when you need to sell Bitcoin, its price will be at its lowest ebb. Bank savings accounts can enable you to withdraw funds almost immediately, but the interest rates are low. In view of these facts I decided to purchase some UK National Savings premium bonds last December. These are government bonds that don't pay any interest, but the interest from all of the savers' bonds are placed in a prize pool, and prizes are awarded each month. The prizes range from £25 to £1,000,000. I won £50 in this month's draw, and the money will be paid into my bank account, and it is tax free. Now what should I do with the money? I could use it to buy more bonds, as the minimum purchase amount is only £25. Alternatively I could buy a few Satoshi, as I believe that we will see a sharp rise in the price of Bitcoin later this year, or perhaps early next year. The million pound prize is tempting, but so is the doubling or tripling of the Bitcoin price.

I agree with you that the portfolio needs diversification. The decision you have taken is not unreasonable. If using £25 and wins a prize worth £1,000,000 your life will change. But since this is a lottery, the chances of winning here can be very low. Even though you've already got £50 it means there will undoubtedly be a chance of winning the lottery. If the opportunity is relatively high then you should definitely put your money at that platform. And if you think buying Bitcoin and holding it for a long time will make you happy at 3x or 4x then you can invest. In UK National Savings premium bonds you have to depend on your luck. But if you hold in Bitcoin, you can definitely get returns from there even if it is a small amount. Even though Bitcoin has high reliability but i don't want to underestimate your thought.

[coolcoinz]

@Broadanbig
Thanks for the kind words, but Bitcoin and Bitcoin Talk were very different when I first joined. It was much more experimental, and there were more security risks when making online fiat payments. I don't remember there being signature campaigns either. The forum now seens to include many members who see it as an income source, and will sell any Bitcoin they may receive for fiat currencies. Many of the former members have become extremely wealthy, and have left. I don't think my experiences as a not very significant newbie would be of much interest. They would be about as useful as my experiences with my first "computer" ( an IBM 421 using plug boards and punched cards ), or my first motor cycle - A Matchless 350 with girder forks and a magneto.

You have to expect this to happen on an international forum where guys like you, who were making decent money at work and have savings, investments and all that, clash with people from Pakistan or Bangladesh, where an equivalent of $0.5 actually has value and allows you to buy food or drink. First time I saw how much money people in some part of the world make at their jobs, I was amazed that it's possible to earn so very little. $50 that a signature campaign pays out weekly is huge money. Money that puts food on the table for the whole month.

I don't think that people left only because they got wealthy. There's many old users, or not that old, but people who bought bitcoin below 1k USD, who are still here. I was here when bitcoin was at $600 and I was here at $60k and I'll be here at $100k, unless something bad, or unexpected happens to me. Some people just become burned out, tired of the forum. A few old members simply died. The community is going to change as time goes by.

[el kaka22]

Even though we are in the bitcointalk forum and most would say yes, I will have to say no. I think 50 pounds is too little to buy bitcoin with, since considering it would mostly be eaten by the transaction fees as well, from bank to exchange to trade, all will be taking some time and there is no need for that. I would highly suggest that people should be doing what they always need to do and earn more before they invest.

Get as much money as you could, and use that income to buy bitcoin. Reach to a level that is at least 200, if possible 500 is a better place to start. That is of course when you go from outside to inside of crypto. When you get paid 50 bucks in crypto, that's fine, because it's already in crypto, not fiat that needs to be turned into crypto, that's much better.

[panganib999]

Even though we are in the bitcointalk forum and most would say yes, I will have to say no. I think 50 pounds is too little to buy bitcoin with, since considering it would mostly be eaten by the transaction fees as well, from bank to exchange to trade, all will be taking some time and there is no need for that. I would highly suggest that people should be doing what they always need to do and earn more before they invest.

Get as much money as you could, and use that income to buy bitcoin. Reach to a level that is at least 200, if possible 500 is a better place to start. That is of course when you go from outside to inside of crypto. When you get paid 50 bucks in crypto, that's fine, because it's already in crypto, not fiat that needs to be turned into crypto, that's much better.

Pretty sure this man is a topdog in this community, and he's doing that because he supports bitcoin. Saw from another thread that he's been living off the grid with only bitcoin by his side too, which is why I humored his idea of buying bitcoin, albeit advising him to save a little for himself so he can still enjoy life. In any case, for a regular bloke, it still wouldn't make sense not to let them buy bitcoin even if it's as low as 50 bucks. The fees aren't that high as you're making it out to be (at least for now) and I think it's a good way to act as a gateway to the bitcoin industry, especially for people who are cautious with dipping their toes in the water for various reasons. So no matter what, I'd still advise them to buy bitcoin with as much money as they can fork, but for jetcash, yeah he's good he better have spent it or at least a portion of it on a nice dinner.

[ektotanes]

First of all, congratulations to you!
Secondly, I think it's not a good idea to seek financial advice here. But personally, I would invest this money in bitcoin or make some kind of gift to my loved ones. Money is not a goal, it's a way to achieve a goal.

[Mr.right85]

In view of these facts I decided to purchase some UK National Savings premium bonds last December. These are government bonds that don't pay any interest, but the interest from all of the savers' bonds are placed in a prize pool, and prizes are awarded each month. The prizes range from £25 to £1,000,000. I won £50 in this month's draw, and the money will be paid into my bank account, and it is tax free. Now what should I do with the money? I could use it to buy more bonds, as the minimum purchase amount is only £25. Alternatively I could buy a few Satoshi, as I believe that we will see a sharp rise in the price of Bitcoin later this year, or perhaps early next year. The million pound prize is tempting, but so is the doubling or tripling of the Bitcoin price.

It's always a good idea to diversify your investments and picking a page out of this bond isn't out of place. You've got your prize money and that's cool. There are hopes for more and that's another encouraging fact too.

I think you might have had your ideas about what you want but, should you not feel satisfied or your goals unachieved by taking the bonds, you could as well top your portfolio on it. Just hope its not something that is pushed by prize in the form of a million  pounds. That would be you stimulating your greed and its something we hope to avoid.

On the other hand, the £50 prize won suits well for a spare cash and that's what you need to pick a bitcoin investment, spare cash. You really get to scale things and pick one that suits.

[phuhuyxyz]

I recommend using any extra money t buy bitcoin. You will buy little by little and eventually, you will have one whole bitcoin. I think it's important to start this process and don't think about how many bitcoins you are actually buying, it could be £10, £15, or £50, but it's still good.

And even if you just invest £50, you will still get some gains when bitcoin will go up. So it's a win-win situation.

In my opinion, when to buy btc and how long you keep it is important. if you buy when the price is at the peak of 64000usd it is different from when you buy it at 16000usd. Let's darken your investment yield! that's one good idea. Start with the first £50 and buy more at the right time.

[crunck]

First of all, congratulations to you!
Secondly, I think it's not a good idea to seek financial advice here. But personally, I would invest this money in bitcoin or make some kind of gift to my loved ones. Money is not a goal, it's a way to achieve a goal.

This is a forum about finance and investment, if you are not here to discuss and share about investment, what are you doing here? You don't have to listen to anyone, but you can consult everyone's advice and make the final decision yourself. It's just 50£ too small to do anything. I think he's just creating a thread to see people's reactions rather than looking for financial advice.

[Jet Cash]

I've just discovered that the chance of winning £1,000,000 with a single bond in any one month is 1:60,000,000,000. It's a good job there are 2 prizes every month. I don't think my £50 would move me any closer to being able to buy a million pounds' worth of woodland.

[loopes]

Although I am a Bitcoin maximalist, I believe that you should diversify your savings as an additional security measure. It is also important to keep some savings in easily realised assets. Bitcoin is great as a long term hedge against inflation, but I don't cosider it to be an easily realised asset. Of course it is a simple matter to sell coins for cash, but its volatility means that it is important to time the sale. The law of maximum perversity states that when you need to sell Bitcoin, its price will be at its lowest ebb. Bank savings accounts can enable you to withdraw funds almost immediately, but the interest rates are low. In view of these facts I decided to purchase some UK National Savings premium bonds last December. These are government bonds that don't pay any interest, but the interest from all of the savers' bonds are placed in a prize pool, and prizes are awarded each month. The prizes range from £25 to £1,000,000. I won £50 in this month's draw, and the money will be paid into my bank account, and it is tax free. Now what should I do with the money? I could use it to buy more bonds, as the minimum purchase amount is only £25. Alternatively I could buy a few Satoshi, as I believe that we will see a sharp rise in the price of Bitcoin later this year, or perhaps early next year. The million pound prize is tempting, but so is the doubling or tripling of the Bitcoin price.

that is may be a debatable option to do, more over for people who like to hold their investment as a passive income. the first option to put your £50 prize to buy more UK National Savings premium bonds. those have no risk and giving a chance to win bigger prize every month. But in the other hand, no one know how huge bitcoin's price will grow in the future. off course with high risk that will always haunt you. But i prefer to choose invest your £50 into bitcoin because it will give you more profit.

[wiss19]

If I were you, I would probably not invest that but instead use it for something else that I wanted or maybe just keep it for when I might need to spend it somewhere, but if I were to invest in somewhere and I had these two options, I would probably first see and find out how often are bonds bought by the public to analyze my chances of winning.

And then, if there is a very large amount of people buying and keeping bonds, making the chances of winning a prize very small, I would probably go with Bitcoin, but if there aren't a lot of bond holders and I can have more chances of winning a prize if I invest what I've won, I'd go for it.

[Bitcoin_people]

You're lucky to win £50.  But you would be foolish to think of investing this £50. Because if you buy and invest bitcoin with this £50, you will not get much profit from it, but a small amount of profit can come. so you spend this £50 on your various necessities or you can spend it on any work of your family. And if you are thinking that you will invest in bitcoins then save some money from your daily earnings. Later invest your savings in Bitcoin then it will be good for you. and you are a legendary person in the forum so if you want to work on different signature campaigns you can get paid bitcoins and hold those bitcoins for a long time.

[coupable]

In view of these facts I decided to purchase some UK National Savings premium bonds last December. These are government bonds that don't pay any interest, but the interest from all of the savers' bonds are placed in a prize pool, and prizes are awarded each month. The prizes range from £25 to £1,000,000. I won £50 in this month's draw, and the money will be paid into my bank account, and it is tax free. Now what should I do with the money? I could use it to buy more bonds, as the minimum purchase amount is only £25. Alternatively I could buy a few Satoshi, as I believe that we will see a sharp rise in the price of Bitcoin later this year, or perhaps early next year. The million pound prize is tempting, but so is the doubling or tripling of the Bitcoin price.

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.

[BenCodie]

Subtract what you spent and use the profit to increase your holdings. Why not? It is money that you otherwise would not have after all. I believe that anyone should be allocating their disposable income to assets/investments/currencies that are safer than fiat...BItcoin being (in my opinion) the top of that list by far.

[Wend]

You're lucky to win £50.  But you would be foolish to think of investing this £50. Because if you buy and invest bitcoin with this £50, you will not get much profit from it, but a small amount of profit can come. so you spend this £50 on your various necessities or you can spend it on any work of your family. And if you are thinking that you will invest in bitcoins then save some money from your daily earnings. Later invest your savings in Bitcoin then it will be good for you. and you are a legendary person in the forum so if you want to work on different signature campaigns you can get paid bitcoins and hold those bitcoins for a long time.

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 .

[Jet Cash]

I'd more or less decided that I was going to use the £50 as an initial deposit  in my new Bitcoin wallet. This will be the third one, and I wanted to see how difficult it would be for a van dweller to run a full archive node in a laptop. I estimate that it would need to have a second drive of at least 2Tb, and it would have to be an NVMe to  keep the power requirement low. I haven't split the case on my new Matebook yet to see if it really does have a second ssd slot. I bought a Core i5 version, as it was substantially reduced in price. The latest version is Core i9, and it has twice the RAM and a few other improvements, but it still seems to be the same case, screen and motherboard. It costs an extra £900, so they may have economised by blanking a few of the expansion slots.

I'm also concerned about the current blockchain attack by those wishing to clog the chain with kiddies' doll images. Another possibility is to start a private signet blockchain. My knowledge of Bitcoin is really at the macro and political level, and I'm a bit light on the technical knowledge. Running a private of group signet would probably help me to learn a lot more about the operation of Bitcoin.

I'm grateful for all the interesting comments and opinions, and you guys have convinced me that I should probably buy another £1,000 block of premium Bonds. I'll let you know if I do that. It will have to be before the end of the month to be  included in the June draw. Maybe that will give me a prize as a birthday present.

[Sexylizzy2813]

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.

[Jet Cash]

I received my £50 prize yesterday. The gov seems to be quick on telling me that I won, but slow on transferring the money ( surprise, surprise ). I belive you get same day credit if you decided to leave your prizes with them.

[CryptSafe]

I received my £50 prize yesterday.

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

The gov seems to be quick on telling me that I won, but slow on transferring the money ( surprise, surprise ).

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.

I belive you get same day credit if you decided to leave your prizes with them.

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.

[GiftedMAN]

I received my £50 prize yesterday. The gov seems to be quick on telling me that I won, but slow on transferring the money ( surprise, surprise ). I belive you get same day credit if you decided to leave your prizes with them.

Congratulations on your win and happy to hear that you have finally been credited the amount you won regardless of them holding it longer than expected. Hey Jet I will like to know why the government couldn't send the it once you were announced as the winner, where they waiting for some clearification or they were waiting for you to keep requesting for it to be sent.I will also like to know if some kind of amount was deducted the €50 for tax please do well to update me.

[Jet Cash]

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.

[lepbagong]

I think what you do by wanting to buy bonds again with the aim that one day you will be able to get a bigger prize, of course it's very good, but if you compare it to investing in bitcoin at a time like this, of course it's worth considering too. because investing in bitcoin by comparing buying bonds where only hoping to get a lottery is of course very disproportionate to investing in bitcoin, in my perception that investment in bitcoin is more attractive because there is certainty compared to only lottery which is not necessarily possible.
but everything is returned to those who have the funds because they will experience it themselves and there should be no intervention whatsoever, as long as they feel that what is being done is the best, just do it.

[Jet Cash]

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.

[darkv0rt3x]

Although I am a Bitcoin maximalist, I believe that you should diversify your savings as an additional security measure. It is also important to keep some savings in easily realised assets. Bitcoin is great as a long term hedge against inflation, but I don't cosider it to be an easily realised asset. Of course it is a simple matter to sell coins for cash, but its volatility means that it is important to time the sale. The law of maximum perversity states that when you need to sell Bitcoin, its price will be at its lowest ebb. Bank savings accounts can enable you to withdraw funds almost immediately, but the interest rates are low. In view of these facts I decided to purchase some UK National Savings premium bonds last December. These are government bonds that don't pay any interest, but the interest from all of the savers' bonds are placed in a prize pool, and prizes are awarded each month. The prizes range from £25 to £1,000,000. I won £50 in this month's draw, and the money will be paid into my bank account, and it is tax free. Now what should I do with the money? I could use it to buy more bonds, as the minimum purchase amount is only £25. Alternatively I could buy a few Satoshi, as I believe that we will see a sharp rise in the price of Bitcoin later this year, or perhaps early next year. The million pound prize is tempting, but so is the doubling or tripling of the Bitcoin price.

Not only buy some Bitcoin but keep doing it. Just as savings. Keep byuing monthly. If you can afford it, why not? Instead of doing it with a bank and with fiat, do it with Bitcoin!

[Aikidoka]

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 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 

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.

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.

[pawel7777]

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 ).

Why even bother? Premium bonds yield 3.3% p.a. and there were some calculations that you'd need at least ~£10k to get that, otherwise the yield is even lower.
So, unless you're into gambling, you can get better return on fixed-term saving accounts.
Or, considering RPI is something around 13%, you can ironically just spend it on a long-lasting goods (clothes, canned foods etc) before their prices go further up. Probably still a better move than 3.3% bonds.

[Jet Cash]

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.

[tokentitan]

Hey not so fast!Bitcoin can be highly rewarding but for noobs it can also go the other way round.
In my early days I used to follow crypto channels on YouTube and follow their advice. Obviously it did not make me rich but smarter.
Investing in bitcoin is no child's play. Simply hodling wont achieve you anything if you do not know how bitcoin and the market works. What makes people invest and why and when. Believe me if you come to know how indicators predict you wont need any indicator in your whole life.
For some negative news is panic time for some it is the golden time.

[pawel7777]

Surely the odds are the same for a £25 investment as for a £25,000 one.

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

To show you why using the 'mean' average isn't a good description of what most people will win, let me use an extreme example…

Imagine I sold a million people a £1 lottery ticket, and then paid just one winner a million pounds.

I could argue, mathematically, that the average (mean) payout was £1, so on average everyone got their money back. This, of course, is bonkers.

Almost everyone wins nothing – which is the median average – as if you lined them all up and asked, the midway person would've won nowt.

So to really see average luck, you need to focus on this 'median' average returns figure. And for the rest of this guide, whenever I refer to average luck, that's what I mean.

Don't forget the 3.3% is tax free as well.

So are ISAs.

But I wouldn't have had the fun of checking every month to make sure that I haven't won £1,000,000.

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.

[Obari]

Well I can understand  the right corner you can be and since you're a bitcoin  maximalist, I really don't need to begin preaching the benefits and importance of bitcoin  to you as I believe  you're already conversant with them.
I dont know of the bond you mentioned and this is the first time I'm hearing of it but I think it also sound great but what are the criteria for drawing the raffle and picking the winner and if its truly fair, then I don't mind saying that you keep giving it a shot but as for the £50 I think you can simply just keep  pushing  the winnings into bitcoin  since you also talked about diversifying.

[pawel7777]

I dont know of the bond you mentioned and this is the first time I'm hearing of it but I think it also sound great but what are the criteria for drawing the raffle and picking the winner and if its truly fair,

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,

[Jet Cash]

I don't buy the median theory, but then I'm not a statistician, your theory sounds a bit like government speak.   I do know that the chances of winning a £1,000,000 are about 1:3billion, and that most of the winners have a £30,000 holding. This used to be the maximum, but it has now been raised to £50,000. That would tend to imply at many bond holders have other substantial investments, and buy the bonds to diversify their portfolio. Being realistic, I expect any prizes that I win will be in the £25-£100 range, and 3 or 4 of those will keep me ahead on returns. I don't like ISAs for various personal reasons, and I haven't got any.

Anyway, I bought another Volvo a short while ago, and this one is in potential concours condition. I paid £850 fior it, and it is probably worth £4,000-£5,000. These classic cars seem to be appreciating as people turn away from electric cars. I think many are becoming aware of the environmental damage resulting from buying new cars, and the savings you make from driving reliable classics.



The estate is interesting, as it has a factory fitted rear view camera, unusual for a 1989 car. The camera was made for the US market, and the screen is mounted in the passenger sun visor. I'm not sure how a UK model managed to get one installed.

[pawel7777]

I don't buy the median theory, but then I'm not a statistician, your theory sounds a bit like government speak.  

I think it's the opposite, since the premium bonds are government-run, they probably want you to believe your expected return is higher than it actually is 
But I guess it's still better than buying lotto tickets.

Anyway, I bought another Volvo a short while ago, and this one is in potential concours condition. I paid £850 fior it, and it is probably worth £4,000-£5,000. These classic cars seem to be appreciating as people turn away from electric cars. I think many are becoming aware of the environmental damage resulting from buying new cars, and the savings you make from driving reliable classics.

If it has original parts and fairly low mileage, it could be worth even more than £5k actually. But I don't think anyone would buy a car priced as a classic for everyday driving and to save money. They'd go for a cheap car that is not yet considered a classic.

[Bushdark]

It always depends on you. I spend almost all gifted money to buy some more coins on Ownr wallet

There are so many coins in the market but Bitcoin is still the best. If op want to invest in Bitcoin then he has to do that as soon as possible so that he would not use the money for something else that would make him not to be able to invest the money. Investing in Bitcoin with as little as $50 is not too bad since op can always buy more Bitcoin and hold since the market is always volatile to either give it more value or reduce the value. The holding can double with time if he keep buying more and ready to hold it for a long time since we are already in a bear market hoping for Bitcoin price to increase with time.

[Jet Cash]

Thanks for the continuing intresting replies.

- Low mileage on a red block Volvo is arouind 500,000. Cars from the 80s and 90s, and in particular some Volvos, Mercedes and BMWs, were built to last, and don't have built in obsolescence and excessive technology. A friend was quoted £700 for some repairs to a Nissan Juke, it was discovered that a brake sensor was faulty, and he had to wait 3 days for one to be delivered, and pay an extra £200 for supply and fitting. With my Volvo, I press the brake pedal, and fluid is pushed against the pad pistons, and the car stops. They is no computer control, sensors or relays to privide false information and cause the car to pull to the side. Of course it has the fancy modern concept of servo assistance. Volvo 740s are underpriced in my opinion, and I'm using the saloon as a daily driver. I also buy E5 petrol, and not the 10% ethanol scam stuff that the UK governement is pushing at the moment.

It isn't that Bitcoin is the best, it is that Bitcoin is unique. I realised early on that it had managed to create a virtual asset that was also a hard asset, and it is the only crypto that does this. Because of public awareness of the technology, it is unlikely that another crypto with these properties will be created.

There is so much flux and fraud in the crypto exchanges, that I decided not to use them. I'll still buy Bitcoin via P2P with trusted members here, but I'm really focused on selling domain names for Bitcoin. I've just turned down $2,500 for a name, and I'm asking 0.2 Bitcoin for it. The dollar is a failing currency, and is of no use to me.

I agree that the price of Bitcoin is likely to go up in the near future. The US promotion of Bitcoin by pretending to ban it whilst highlighting its virtues, is certain to increase its popularity. US sanctiuons boosted the Russian and Chinese economies, so lets have some Bitcoin sanctions.

[Die_empty]

Thanks for the continuing intresting replies.

- Low mileage on a red block Volvo is arouind 500,000. Cars from the 80s and 90s, and in particular some Volvos, Mercedes and BMWs, were built to last, and don't have built in obsolescence and excessive technology. A friend was quoted £700 for some repairs to a Nissan Juke, it was discovered that a brake sensor was faulty, and he had to wait 3 days for one to be delivered, and pay an extra £200 for supply and fitting. With my Volvo, I press the brake pedal, and fluid is pushed against the pad pistons, and the car stops. They is no computer control, sensors or relays to privide false information and cause the car to pull to the side. Of course it has the fancy modern concept of servo assistance. Volvo 740s are underpriced in my opinion, and I'm using the saloon as a daily driver. I also buy E5 petrol, and not the 10% ethanol scam stuff that the UK governement is pushing at the moment.

https://twitter.com/damoshe4love/status/1281367409623019521/photo/1

In my country, because of the ruggedness and durability of Volvo cars from the 80s and 90s, they are mostly converted to pickup vans. They are mainly used to carry iron rods and timber. Another good fact about these cars is that they are easily maintained, mechanics are available and the parts are cheap. But the main problems is that most of the spare parts are scarce. But I can testify that they fit the roads of my country. I once owned a Mercedes 190 and till date I am regretting why I sold it. I was advised to sell it because of its high fuel consumption. But it was reliable and easy to maintain and I loved it.   

It isn't that Bitcoin is the best, it is that Bitcoin is unique. I realised early on that it had managed to create a virtual asset that was also a hard asset, and it is the only crypto that does this. Because of public awareness of the technology, it is unlikely that another crypto with these properties will be created.

We have had many cryptocurrencies that have bragged that they will unseat bitcoin and become the number one coin in the world. Most of them did not last more than one year. Before now most people couldn't differentiate between bitcoin and other coins. They were deceived that all cryptocurrencies are the same. Some of them lost money because of these misconceptions. But people are currently having more access to bitcoin education and they can now differentiate the features of these coins.    

There is so much flux and fraud in the crypto exchanges, that I decided not to use them. I'll still buy Bitcoin via P2P with trusted members here, but I'm really focused on selling domain names for Bitcoin. I've just turned down $2,500 for a name, and I'm asking 0.2 Bitcoin for it. The dollar is a failing currency, and is of no use to me.

2022 was the year that exposed the vulnerability of exchanges. Anybody dealing with them is ready to bear the risk.
If you think the dollar is a failing currency, then my country's currency is dead and buried.  

I agree that the price of Bitcoin is likely to go up in the near future. The US promotion of Bitcoin by pretending to ban it whilst highlighting its virtues, is certain to increase its popularity. US sanctiuons boosted the Russian and Chinese economies, so lets have some Bitcoin sanctions.

I was also surprised that the predictions of the US and NATO regarding the fall of the Russian economy because of the sanctions didn't come to pass. Russia had to re-strategies by creating new business partnerships with other countries. If the US keeps shutting its doors to bitcoin, other nations that acknowledge its benefits will open their doors wide.    

[Marykeller]

If bitcoin is still at the early stage of creation(like being cheap) I would have said that investing your £50 won draw in bitcoin is not a bad idea but a good move since bitcoin is cheap. But here we are on how expensive bitcoin is, $26k + currently. Investing £50 into bitcoin will never give much gain.

It will be a good idea for you to go by what you prefer instead of food as you have replied to humanvelocity when he suggested you use the £50 for a nice dinner, which prefers to fry a sneak instead of food.

If I am to say that's a good choice than Investing the £50 into bitcoin just because you believe that we will see a sharp rise in the price of bitcoin later this year or next year when the £50 won't earn you many profits

[Woodie]

I know we are a crypto community and want to keep it crypto all the time, but reality of things is that you need to live a little...you can't be so sucked into the whole investing phase when you can spoil yourself once in a while...you could also consider getting some collectible coins of bitcoin just for the fun of it and a symbol to show the world that you are a cryptonian.

If your mind isn't made up, you can try again with the government bonds ...who knows you might hit that million 

[tjtonmoy]

From my understanding, you can try out both. $50 isn't a big deal. Also, given the price of bonds, you can buy 1 with $25 and keep the other half for other purpose. Let's say you want to invest in Bitcoin, they what's stopping you? You can start Bitcoin investment journey with as low as at $5. Which is great and
others can do the same, as there isn't any limit to it.
So be sure to give it a thought. But in the end, your assets and it's your decision. Do your own research.

[Jet Cash]

Well just to keep things in proportion, I did mention that I had bought another £500 of bonds, and that came out of my current account, and not savings. We seem to think of England as a poor country these days, but on reading many of the posts in this thread, it seems that £50 is a useful amount for some. I've just invested £2 in an Ameicano coffee, so that I can use their WiFi to talk to you guys. Why is it called an Americao, and not just a black coffee? I thought that American bought frothed up milky coffees with added flavourings. I thought of running a contest to see who could guess the winnings in my birthday month, but I'm pretty sure that the answer would be £0, so it isn't much of a contest.

I'd love to find somewhere/someone who will sell regular £50-£100 worth of Satoshi, and where I can pay using Sterling faster payments bankl transfers. Aren't there any sig renters, who want to cash in their rewards? I've lst track of the current stae of the exchanges. I made a few Satoshi by scalping  the Bitcoin price, and in this time of high volatility, this seems to be a good option.

Just another recap. As I have turned my back on the bricks and mortar life. I don't have the same constraints as most people, and I do have a lot more financial freedom. It is a bit of a sadness that I can't use Bitcoin for any transaction, other than a few on the Internet of course.

[raidarksword]

Take that 50£ and ask a girl/someone important you out for a nice dinner. Enjoy life and have a laugh because in the process of always trying to make money we often tend to lose important people around us. Lets be realistic because investing that 50£ in cryptocurrencies isn’t really gonna help you tremendously. Go have fun outside and i bet that money will be worth much more than 1£ or 2£ profit you make in 6months on cryptocurrency.

This would be the nice answer  I have read for so long I have been here in the forum though it's quite true that to enjoy life as we don't know how much more years, days, or months we left in this world and it would be good advice to at least make a leisure sometimes from the stressful world of crypto. Spending on simple dinner from that won 50 euros is already enough to enjoy and make a good laugh together with our love ones and it's also to take easy and unwind from all of things we all been thinking.

[Sexylizzy2813]

Well just to keep things in proportion, I did mention that I had bought another £500 of bonds, and that came out of my current account, and not savings. We seem to think of England as a poor country these days, but on reading many of the posts in this thread, it seems that £50 is a useful amount for some. I've just invested £2 in an Ameicano coffee, so that I can use their WiFi to talk to you guys. Why is it called an Americao, and not just a black coffee? I thought that American bought frothed up milky coffees with added flavourings. I thought of running a contest to see who could guess the winnings in my birthday month, but I'm pretty sure that the answer would be £0, so it isn't much of a contest.

I feel you're doing well as the case maybe, you're just adding up your funds, is like resting at your comfort zone and your getting those huge credit alert. I'd like to see more of you in this forum to share some of your knowledge on how to established our income, and also different ways to invest. If you ask that question about your birthday I think the replies you get would amaze you😂.

[Jet Cash]

Well today is the day for the June draw. It's 9am here, so it is probably a bit early for the results, but I thought I'd look anyway. I don't expect to win, even though it is my birthday month. Just after I posted that I was on a roll, everything seemed to turn down, and I haven't found any more money. I even forgot to turn of the battery in my mouse, so that was flat this morning. For the statisticians - The £500 block that I bought is not eligible for a prize unti next month. The £50 win came from a £900 block that first went into the draw in Februarty. A much larger block that went into draw in January hasn't won anything so far. Should I win this month, then I'll edit this post later today. Faiuling that, I may let this thread decay, unless there is some interest in keeping it alive in the forum.

[slaman29]

Hey OP I know it's a month late to respond but I hope to give a different view of it.

Firstly, I had no idea they had bonds like that in UK but in Asia it is similar, you buy "lots" that you can redeem for your cash back but only after a certain period of years. No interest also, like you, but monthly cash prizes, cars, a grand prize is a house, etc. I never won anything except the small cash amounts but it's nothing:) The longer you don't redeem, the bigger you chance to win so I still wait.

For me this amount is always should be to be compared to the prices of things in your place. For example, for us, a nice meal can mean different things. A big meal at McDonalds for 2 is considered nice by most workers is just under $20 for local currency, and min salary in local currency is 1600. So you can see here, it is just above 1.25% of salary.

Which is about right for a nice meal.

Fancy meal at restaurant, for 2. Without drinks (fancy means wine which is 5x actual price), you will pay $100 for 2, or over 6% of salary.

So whenever I win anything, even in BTC, I use it to count against my salary. If it's only 1-2%, I treat my friends/family, always Weekend dinner. If it's more, it always goes to savings. And now you mention it, I add to the bank lots, who knows I win the house one day

[Litzki1990]

@humanvelocity
I gave you a couple of merits, because I thought your post was a great idea. However, I'm now a retired pensioner, and I'm not short of money for the odd special meal. I'm a bit phobic about food at the moment, and I think I would prefer to fry a nice steak and eat in on the beach.
I guess I'm not really asking for financial advice, but I'm more interested in social opinions. Both of my suggestions are gambles, and I guess your suggestion is more of a lifestyle reward. If it had been a slightly larger sum, I'd be tempted to try to find another classic car to restore, I enjoy the challenge in this.

Since you are not short of money then why don't you increase some amount and invest it. We all think that investing makes money, but maybe you want to invest in Bitcoin with a different idea. Because even if you have enough money, it is very difficult to make a profit from investing only £50. Because in order to achieve a small profit, the value of Bitcoin has to increase a lot. If your goal is to earn money by investing, then you can increase the amount of money and invest in Bitcoins, which will increase your chances of profit.

[leonair]

~snip~

You are not new to Bitcoin. so £50 investment is very insignificant for you and you will not get any good quality profit by investing this small amount.  So I won't encourage you to invest this £50 bitcoin. So since you've won £50 it's a bonus for you. That's why you can spend £50 on a family day of fine dining without investing it. and enjoy a day with family.  This will be your greatest achievement. If you invest it in Bitcoin, you will not get any amount of profit that can make you rich. so enjoy the time with family

[BobK71]

I dont know of the bond you mentioned and this is the first time I'm hearing of it but I think it also sound great but what are the criteria for drawing the raffle and picking the winner and if its truly fair,

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,

Yes I agree with you. It is better to invest only £50 in bitcoins rather than reinvesting them in premium bonds. Because with this small amount of investment he won't be able to achieve much but if he wins a bigger prize then he can suddenly become rich from here. There are many chances to achieve big things because he has nice luck. If he invests them in Bitcoin then he can get maximum double profit in one year because now Bitcoin is in deep dip.  But if he invests in bonds he can win millions of dollars if he is very lucky so it will be better for him.

[xSkylarx]

My first impression is that you already have a lot of investment now, and for sure, it's thousands, and that winning is, i think, not worth it to invest in it because that winning is like you ever dreamed of it, like you are hopeful to win it, and at the same time, it is bet to buy it a drink if you want to, or if you have a child, buy her toys or anything else that you can remember in the future. You are too different from what people are posting here, so I would really recommend you to have fun. For sure, you are very stressed now in your investment or in life, so this is the time to enjoy!

[pawel7777]

/snip/

Yes I agree with you. It is better to invest only £50 in bitcoins rather than reinvesting them in premium bonds. Because with this small amount of investment he won't be able to achieve much but if he wins a bigger prize then he can suddenly become rich from here. There are many chances to achieve big things because he has nice luck. If he invests them in Bitcoin then he can get maximum double profit in one year because now Bitcoin is in deep dip.  But if he invests in bonds he can win millions of dollars if he is very lucky so it will be better for him.

I didn't say he should put that £50 in bitcoins. I said premium bonds are not necessarily the best investment considering there are better-paying alternatives, such as fixed-term saving accounts or ISAs.
Investing in BTC is a completely different category, as it's a high-risk investment.

I do understand the sentiment of putting small amounts into high-risk investments, hoping for better gains, but I tend to agree with the opinion that it's best to adopt a sensible approach to investing and act the same disregarding the amount you have available. If you don't keep gambling smaller amounts away, then they have the potential to slowly cumulate into much higher figure (with a help of compound interest etc).

[Obari]

I dont know of the bond you mentioned and this is the first time I'm hearing of it but I think it also sound great but what are the criteria for drawing the raffle and picking the winner and if its truly fair,

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,

Yes I agree with you. It is better to invest only £50 in bitcoins rather than reinvesting them in premium bonds. Because with this small amount of investment he won't be able to achieve much but if he wins a bigger prize then he can suddenly become rich from here. There are many chances to achieve big things because he has nice luck. If he invests them in Bitcoin then he can get maximum double profit in one year because now Bitcoin is in deep dip.  But if he invests in bonds he can win millions of dollars if he is very lucky so it will be better for him.

Nothing is certain in cryptocurrency  and basically I don't enjoy telling people to invest in bitcoin  and just as you hoped and predicted that he can make double of the £50 on one year,  did you also think of the possibility  of not making that amount as we can see that the market has been struggling for over a year now and no one, I mean absolutely  no one knows when the market might spike but rather we invest based on hopes and predictions and rather than throw all your money into bitcoin,  it wouldn't  be a bad idea to diversify and keep trying your luck with some portion in the bonds.
Goodluck.

[Jet Cash]

Well just as you guys probably expected, Jetty didn't win anything this month. The £50 win was an unexpected bonus, as my expectation was two or three £25 wins this year, so I only need one more win before next January to meet my expectation. Of course the romantic in me thinks it will be a lot more than that. but the pragmatic realist believes that I won't win anything. I guess this is the fun of these bonds - the inner conflict between the pragmatist and the romantic. My first reaction today was to buy a few more, but, folowing my self-made rule from my card playing days, I stopped myself from chasing losses. It's an interesting attitude, because if I follow my logic, then I should reinvest any winnings to get the extra month on the new investment. Instead I let them pay me the £50, and then promptly invested another £500, and had to wait the extra month for that to be included. I guess I'm a bit of a control freak, and like to review any decisions at the time. Somehow, just letting them add winnings to the pile doesn't seem like winning. No doubt an accountant would disagree with me though.

I'm still a bit undecided about the short term price movements for Bitcoin. I can see reasons for all three directions, but one thing is certain, it won't be going backwards. I have picked  up some copper plumbing waste in the last couple of weeks, so maybe that is where I spent my £50. Despite being a Bitcoin maximalist, I believe that you should diversify your savings, and hard metals ( gold, silver and copper are my preferences) are one interesting investment, provided you have safe storage for it. I lost a few £thousand worth of copper when I had a thief break into one of my garages a few years ago. Being a Bitcoin maximalist means that I'm not interested in any of the alts, and secretly I consider fiat to be an alt in practice.

[MIner1448]

If you have money from winning a draw, you have several options on how to use it. You can buy more bonds as the minimum purchase amount is low. Alternatively, you can buy a few satoshis (small fractions of bitcoin) as you believe the price of bitcoin will rise in the future. The million pound prize is tempting, as is the opportunity to double or triple the value of bitcoin. The decision depends on your financial goals and your comfort level at risk.

[PIMPdev]

If you have money from winning a draw, you have several options on how to use it. You can buy more bonds as the minimum purchase amount is low. Alternatively, you can buy a few satoshis (small fractions of bitcoin) as you believe the price of bitcoin will rise in the future. The million pound prize is tempting, as is the opportunity to double or triple the value of bitcoin. The decision depends on your financial goals and your comfort level at risk.

Yeah, I think you're a bit late considering that the original post was made a month ago.

[Agbe]

Take that 50£ and ask a girl/someone important you out for a nice dinner. Enjoy life and have a laugh because in the process of always trying to make money we often tend to lose important people around us. Lets be realistic because investing that 50£ in cryptocurrencies isn’t really gonna help you tremendously. Go have fun outside and i bet that money will be worth much more than 1£ or 2£ profit you make in 6months on cryptocurrency.

When I saw the topic this waj exactly was in my mind. Op should use it to buy some food stuffs and store his house and at least eat them for sometimes. Because what you eat with your money is what you will carry go to heaven. And all the rest things will be shared among your relatives so eat well and relax. Food is one of the necessary needs in human life and it also make one to think well for one to do next. If you have not eaten, one can commit a crime that not supposed act. Buying bitcoin is good but if it mismanaged and the coins gonna lost what will you do? As others said, there is risk in it.

[fintechguruji]

Nothing is certain in crypto currency  and basically I don't enjoy telling people to invest in bitcoin  and just as you hoped and predicted that he can make double of the £50 on one year,  did you also think of the possibility  of not making that amount as we can see that the market has been struggling for over a year now and no one, I mean absolutely  no one knows when the market might spike but rather we invest based on hopes and predictions and rather than throw all your money into bitcoin,  it wouldn't  be a bad idea to diversify and keep trying your luck with some portion in the bonds.
If you think you will invest, just look at the https://fintechguruji.in/shiba-inu-coin-price-prediction-forecast/ and other cryptocurrencies here.
Goodluck.

[Jet Cash]

Van living is a massive niche on YouTube. I did a search for "van life", and the first video was on a channel with 691k subscribers. It doesn't just address people living in a van, but also people who would like to be living in a van or mobile home. Then there are all the weekenders who own a campervan, and there is a cross interest with boat dwellers and digital nomads. It's really a very interesting community if you can avoid the druggies and the alcoholics.

There are some uinteresting niche topics as well like LoRa.

[Jet Cash]

I thougght I would update this thread with details of my current winnings. I've had £3,600 invested since the beginning of 2023, and so far all I have won is £100 ( 2 x £50 prizes ). Since March of 2023, Bitcoin has risen by 237%. If my maths is correct, then £3,600 invested in Bitcoin would have shown a profit of £8,532 at today's price. I'm thinking of stating a thread where I compare "investments" in Bitcoin, bank savings, premium bonds, and the weekly purchase of a Euro millions lottey ticket. I might also chuck in an entry to the free lottery.