BITCOIN

Zola.

https://eu.usatoday.com/story/opinion/2022/01/28/bitcoin-helps-low-income-americans/9225120002/

Around the globe, people are adopting it faster than they adopted the internet. Countries with the highest adoption include India, Kenya, Venezuela and Vietnam.

Financial inclusion matters. Accessing savings, payments and credit enables human flourishing. Bitcoin facilitates this for anyone, and with more volume than PayPal. At just 13 years old, it’s already the most inclusive and open financial network anywhere. 

Thrugelmir

Scottex99 said:

Hexane said:

Scottex99 said:

I’m no expert, but I know a thing or two. I also know your money is better off in the market than in a bank. Go SHIB!

I wish I could troll this good

Hey kid, you were the one saying a few months ago, that BTC would go to US$100,000 within a few months.

Are you sure that no-one believed you? Because the people that made money, made it off the back of people who bought based on that nonsense you peddled.

So if no-one believed you, then good...

 We cant just turn on the money printers every time we need the bail out the banks,

That was an exceptional event which has yet to run it's course. The great unwinding is yet to follow. 

Scottex99

That was an exceptional event which has yet to run it's course. The great unwinding is yet to follow. 

Agreed, however who decides what is exceptional and what isn't?

"Brexit is going really badly and all these great trade deals haven't materialised. I know, lets print 50tn quid and spend it, that'll make GDP go up".

The point is government money is controlled by politicians and central banks who generally have short term views to get/keep themselves in power. Which leads to money printer go brrrr, which leads to inflation and our spending power getting rekt

mooneysaver

Scottex99 said:

Hexane said:

Scottex99 said:

Hexane said:

Scottex99 said:

I’m no expert, but I know a thing or two. I also know your money is better off in the market than in a bank. Go SHIB!

I wish I could troll this good

Hey kid, you were the one saying a few months ago, that BTC would go to US$100,000 within a few months.

Are you sure that no-one believed you? Because the people that made money, made it off the back of people who bought based on that nonsense you peddled.

So if no-one believed you, then good...

How have your equities performed the last 2 weeks?

Thank you for asking! A topic dear to my heart, but...

... two weeks, you say, TWO WEEKS? Well, gratifyingly, I think in the last two weeks my equities have stopped constantly going up like they did for the last few years and (on average) the last few decades. Worryingly, my equities only dipped a little in the last two weeks. Was something more dramatic supposed to happen?

Weird, sounds just like my Bitcoin

Lol... but muh bitcoin!

Scottex99

Well, this isn't a car forum, it's a money saving forum.  Specifically, it's about savings and investments.  If I constantly wanted to talk about badger wrestling in this forum, your analogy would be more appropriate, but instead I like to discuss the merits of investments and whether they are suitable for my portfolio or for others.  Entirely on topic.

If you want to stretch the analogy, I guess that my conduct here is akin to going into a thread on the car forum about, say, the Beta Juliet range of cars, and I ask whether it's true that they regularly catch fire.  Instead of an actual answer, all I'd get would be statements like "ahh, but this car makes driving available to the masses" or "other cars sometimes catch fire" from people that not only own those cars but would benefit from others owning those cars.  Even in that tortuous analogy, I doubt the owners of the car forum would mind me asking that question, as it's genuinely pertinent when making a decision as to whether to buy one.

Yes but that's not the same as saying, "I wont touch it" is it now?

You wont touch it? Cool, you dont need to tell us 20 more times

Thrugelmir

Scottex99 said:

That was an exceptional event which has yet to run it's course. The great unwinding is yet to follow. 

Agreed, however who decides what is exceptional and what isn't?

The GFC and it's many facets are well documented. Many were shocked by the sudden demise of Northern Rock for example. As the principle of mortgage lending is very straightforward. The reality was that it took a UK Treasury 7 months to get to the bottom of the true state of the bank's finances ( a comprehensive 132 page report). Upon which is was decided to nationalise the business, and for the UK taxpayer to fund the operation while the mortgage and loan books were run off. International investors wouldn't have been willing to underwrite a £100 billion plus committment. Across the entire board the numbers were staggering. That's why in accounting terms it's an exceptional event. 

Scottex99

The GFC and it's many facets are well documented. Many were shocked by the sudden demise of Northern Rock for example. As the principle of mortgage lending is very straightforward. The reality was that it took a UK Treasury 7 months to get to the bottom of the true state of the bank's finances ( a comprehensive 132 page report). Upon which is was decided to nationalise the business, and for the UK taxpayer to fund the operation while the mortgage and loan books were run off. International investors wouldn't have been willing to underwrite a £100 billion plus committment. Across the entire board the numbers were staggering. That's why in accounting terms it's an exceptional event. 

Actually Lloyds Bank tried to buy them and Merv and the BOE essentially blocked it by not giving some liquidity guarantees.

I don't think that brought on the rest of the banks failing but wasn't handled well. I just read a book about the history of LBG and all of the shenanigans when the UK Banking industry was on the verge of collapse

Reaper

Zola. said:

Bit too early to be judging if its been a success, given its only been a few months... 
We will know more clearly in 5 years time after the lockup..

https://www.reuters.com/markets/rates-bonds/el-salvador-plans-first-bitcoin-city-backed-by-bitcoin-bonds-2021-11-21/

Bitcoin City is another rather daft idea. Empty cities can be found all over the world where leaders have declared one built but the people have not followed. In this case cheap electricity and low tax are hoped to be the draw, but I suspect only miners will set up who need almost zero on-site manpower so few will follow, and the low tax means they won't benefit the economy.

More importantly it depends on investors being willing to lend their Bitcoins to a high risk country. The proposed 6.5% yield and 5 year lock in does not appeal to me for that level of risk. I could get TWICE the yield investing directly in their existing conventional government bonds.

Aegis

Scottex99 said:

Well, this isn't a car forum, it's a money saving forum.  Specifically, it's about savings and investments.  If I constantly wanted to talk about badger wrestling in this forum, your analogy would be more appropriate, but instead I like to discuss the merits of investments and whether they are suitable for my portfolio or for others.  Entirely on topic.

If you want to stretch the analogy, I guess that my conduct here is akin to going into a thread on the car forum about, say, the Beta Juliet range of cars, and I ask whether it's true that they regularly catch fire.  Instead of an actual answer, all I'd get would be statements like "ahh, but this car makes driving available to the masses" or "other cars sometimes catch fire" from people that not only own those cars but would benefit from others owning those cars.  Even in that tortuous analogy, I doubt the owners of the car forum would mind me asking that question, as it's genuinely pertinent when making a decision as to whether to buy one.

Yes but that's not the same as saying, "I wont touch it" is it now?

You wont touch it? Cool, you dont need to tell us 20 more times

How many times have I literally said "I won't touch it" or similar?  I'd guess it's closer to 2 than 20.

Scottex99

Once is enough, haha