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Lee Saunders
Post count: 49

I think it’s dangerous to have bits of coin as payment for products and services.
Maybe I’m thinking about this all wrongly, but I think that until received bits of coin are converted into cash assets, surely if coins fall through the floor in the meantime, say 50%, the cash value of what the person paid in bits of coin would also drop. The customer paid full price for the product, but the company now has half of that value to cash in. Is that right? Until you have cash-in-hand, you have virtually nothing, in more ways than one.

Yeah, those penny stocks. I’ll not go near them again. Back in 2002, I saw an article about the next company to make big waves in communications. Well, the shares were £1.00 GBP each: I bought 100. The price crashed about two weeks later, recovered once and slid down 50%. Now they’re only worth 10 pence each, dividends ceased in 2016, and the company they used to manage the shares wants £30 for me to sell them. I’ll not go near them again, not even with a bargepole.

  • This reply was modified 1 week, 5 days ago by Lee Saunders.