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Bitcoin and bubbles #finance #investments

I have seen two adverts on Facebook this morning for money-making schemes that turned out to be Bitcoin schemes. One was using Piers Morgan’s image and name to promote a scheme and the other surprisingly was using the name and image of Martin Lewis, the so-called ‘money saving expert’.

Beware bitcoin

Bitcoin

Bitcoin and other cryptocurrencies are Ponzi schemes but they seem attractive to some hedge funds and so they keep on going without the bubble completely deflating but it does inflate and deflate wildly and eventually, the bubbles will burst. We have seen investments hyped up before. Polly Peck years ago was all hype and even Lehman Brothers crashed bringing down the whole world economic system which is still recovering. There is a lot of ramping and hype in the AIM market and that needs more regulation as does the whole financial system and its markets but at least some companies in the AIM market are prospecting for oil or doing valuable research to bring new drugs to the market.

AIM

I have a few AIM companies in my portfolio, in fact, too many. Immupharma did that placing which I think trashed its share price and the price has been hovering around the placing price this week. It hit 174 last week but its back down to 147 today but I bought at 51 so I’m not complaining. My other pharmaceutical Verona Pharma is at 149 having dropped back again this week. I paid 150 so a slight paper loss now but the price has been as high as 300 (equivalent) so we could see that take off at any time. My one oil company, Solo Oil, has a lot of potentials but investors are getting impatient. They need one of their investments to start earning. The gas production in Tanzania reassured investors but there has been little news from that front recently.

The Main Market

While Bitcoin is very risky and little more than gambling, the main market should be regulated and controlled but we still saw Carillion crash and we wonder who did their accounts and whether the auditors even looked at their accounts. We see an accounting scandal at Tesco but this week it seems the market has confidence in Tesco once again and the share price gained on results. I sold Tesco last month and missed out but I am tempted to ask who audited their accounts this time?

Friday the 13th

It’s Friday the 13th and no I don’t feel lucky but I think I have more chance on tonight’s Euro-millions draw of making a million than I would be investing in Bitcoin. They are going to do a raffle with 13 prizes of one million. The odds against winning are phenomenal but if you’re going to play, this is the draw to do it. This Friday is no more lucky or unlucky than last Friday.

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