BITCOIN

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

Zola.

The state of Arizona is filing to make bitcoin legal tender. 

https://t.co/XhNfdJ4KNh

Scottex99

mooneysaver said:

I'm seeing way too much idiocy around trying to paint Dani as if he's some lost little girl in all of this.

You think it was sheer coincidence that we suddenly got those leaked screenshots where Dani is ShOcKed AnD ConFuSeD about Sifu's past?

It's one thing to put $$$ in a risky financial investment, and lose money.... IF that financial investment is presented honestly from the get go. The presentation of TIME Wonderland however, was full of deceit & misrepresentation from the beginning, which caused many to invest under a false premise. These 2 just fleeced people for hundreds of millions of dollars, and we all need to work together LEGALLY to try and get out money back. Bernie Madoff's victims got their $ back, and we can set a precident here with defi if we all work together.

Let's stop with the empty babble and show Dani and Sifu that we mean business. That money scammed away from us has to be returned. Does anyone have any experience filing class-action lawsuits?

Is there a reason why you’re just copying random stuff into this thread?

I know exactly what Wonderland is but I doubt much more than 3 other people here do.

Plus this one is for BITCOIN, it says it right up there in caps

Adyinvestment

Zola. said:

The state of Arizona is filing to make bitcoin legal tender. 

https://t.co/XhNfdJ4KNh

Its amazing how fast Bitcoin is spreading, I know a filing is a long way from a done deal but does show how serious political people are taking it. Arizona has a larger population than El Salvador.

In the last week alone it seems to me that countries are waking up and realising that Bitcoin is the real deal and trying to get their heads around it so they are not left behind, I find it amusing that nearly the exact day Russia starts to embrace Bitcoin that Biden is rumoured to be issuing an executive order for the US departments to find the way to regulate it...perhaps this is the Bitcoin race 

Zola.

What a ponzi ! 

Adyinvestment

Zola. said:

What a ponzi ! 

   I am buying the dip ...I want to be near the top of the pyramid!