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Show ALL Forums  > UK forums  > Bitcoin - just how bonkers is it?      Home login  
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 billybonds
Joined: 8/8/2014
Msg: 101
Bitcoin fiat..the young can neither afford a house or a pension..with worse to come..Page 5 of 9    (1, 2, 3, 4, 5, 6, 7, 8, 9)
Yes vlad it's not just the state that steals money. But the private sector too. Can't say I approve of that. Still it was an angle the guy should have thought of. I got an un-anticipated tax bill to be paid by January 31st and er July. .I'm already paying corporation taxes etc I have to say it ruined my saturday night but I'm rallying and I suppose I should have seen this particular angle coming . My accountant does not care, he's always so buoyant. His bed side manner stinks. I pay him a £130 a month. Come the revolution he really will have to get a job.

Say something about bitcoin, billy....I think a gold hashgraph cryptocurrency will win out. The only problem is it will be government run. The dollar index 102 a year ago now 89..Bitcoin $1,000 dollars a year ago now $11,800.


Nb ..Silver is the most undervalued asset in the world.


A little dribble and a sumptuous chip..........
 10ky
Joined: 11/15/2012
Msg: 102
Bitcoin fiat..the young can neither afford a house or a pension..with worse to come..
Posted: 1/30/2018 7:01:23 AM
There:

http://www.independent.co.uk/life-style/gadgets-and-tech/news/coincheck-hack-nem-latest-updates-japan-bitcoin-theft-cryptocurrency-inspect-exchanges-south-korea-a8183281.html

$534 worth of NEM pinched by clicking a few buttons. Cryptocurrency has a long way to go before it becomes a viable thing. That unless someone imposes regulations (would defeat the purpose) as I expect to happen within a couple of years.
 billybonds
Joined: 8/8/2014
Msg: 103
Bitcoin fiat..the young can neither afford a house or a pension..with worse to come..
Posted: 1/30/2018 10:16:18 AM
It's gone down to $10,497. Nothing has persuaded me to swap gold for bitcoin. Many have sold gold and silver chasing this price. That's called emotion. Personally I'd love it if gold went down in price to some of the lower predictions such as $700 dollars and even $400 dollars. I simply sleep better with the current status quo. This is conviction baby.

Seems bitcoin is suffering from its derivative markets as is the precious metals.

The bonds are still selling off. Surely someone has got to get in there with a gun and make people buy these money losing investments. To recap the very significant ten year u.s. treasury, which hit a 228 year high in July 2016, is now yielding 2.71%. Interest rates are now climbing around the world. Already London house prices are continuing on from last year's drop and falling. I read today that 18% of uk mortgage holders (1.6 million ) are only paying the interest on their mortgages (literally death pledge) The ECB is talking about reversing their QE. They might as well say we want Italy, Spain, Portugal and even Ireland to live like the Greeks. Your ****ing banks are insolvent Mario Draghi.

The trouble with socialists is their vomit inducing piety. Do not let them frame any debate forumites! They are always wrong and it is they that are evil!!!. One thing that you get to hear about a lot is that the minimum wage doesn't Cause job loses and you must be vile to oppose it. This is arrant rubbish but because of unlimited banking credit creation any semblance of logic that a rising price means you would get less of something is easily laughed at by these deeply unpleasant shower avoiding grass munching, eternally hairy, co2 hating students.

When is the state of the union....he's now going to come up with a 1.7 trillion dollar non productive infrastructure plan. On top of the $1.2 trillion fake tax cut ( borrowing money to fund a tax cut is not shrinking the state Donald) Oh and the Fed is selling off $600 billion dollars of its balance sheet this year. It's not surprising then that heroic/debt clueless monkey slaves are asking for 2.71% now.

Let me repeat the ten year cannot get to 3% without concomitant carnage. And yet still any reversal in our lionised lefty global monetary pseudo scientists' policies of QT threatens the world with utter cataclysm.

Elections and our voting of a selection of initials hemmed in by multiple decades of left wing tosh encouraged and paid for by a global banking elite is not going to change anything.

It's the debt. Our globalist economy is simply to borrow pretend wealth from the future that we most definitely will never pay back in increasing amounts just to standstill. It is a recipe for non stop violence as real resources disappear.

The Dow was down 293 points today on news of the continued sell off in bonds. (The biggest bubble in economic history that started in 1981.) The Dow jones could still go higher as Venezuela' s stock market has tripled this month.
 duracell_bunny_one
Joined: 1/21/2015
Msg: 104
Bitcoin fiat..the young can neither afford a house or a pension..with worse to come..
Posted: 1/31/2018 7:45:36 AM
..........................'Bitcoin - the Revenue comes calling'..................
BBC online news today.
Are we surprised?
 rekirked
Joined: 11/7/2017
Msg: 105
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History
Bitcoin fiat..the young can neither afford a house or a pension..with worse to come..
Posted: 1/31/2018 9:45:00 AM
You can't tax a bankrupt. Tick tock..........
 RoxyMoronic
Joined: 6/7/2016
Msg: 106
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History
Bitcoin fiat..the young can neither afford a house or a pension..with worse to come..
Posted: 1/31/2018 11:49:48 AM
FB has banned the bitcoin ads.
No more on my feeds!
 billybonds
Joined: 8/8/2014
Msg: 107
Bitcoin fiat..the young can neither afford a house or a pension..with worse to come..
Posted: 2/1/2018 8:25:16 AM
:) The bond market sells off every day now and then some entity comes in and tries to prop it up. Gold oddly is stuck at $1,340 dollars and bitcoin which should do what gold has done for thousands of years is now at $9,291. It would appear some entity is selling these assets in the derivative markets with fake money. Which taxes the poor via inflation and makes the majority of young people increasing debt slaves.

The ten year u.s. treasury is at 2.74% . It bottomed in July 2016 at 1.32%. Interest rates are rising. If it goes to 3% I predict fireworks if not before.


Yes vvvv vvvv absolutely right it was a set up to push more credit into the system. ..obviously nick clegg now know this.
 Justanotherchap
Joined: 12/4/2013
Msg: 108
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History
Bitcoin fiat..the young can neither afford a house or a pension..with worse to come..
Posted: 2/1/2018 8:36:38 AM
Well I do wonder if the idea behind Uni fees was because the banks needed another source of income?
 billybonds
Joined: 8/8/2014
Msg: 109
Bitcoin fiat..the young can neither afford a house or a pension..with worse to come..
Posted: 2/2/2018 2:17:03 AM
Bitcoin is down again to $8,382...gold flat ....

The fed really is selling its balance sheet. .actual QT ( quantitative tightening) is under way.

And the bond market continues to sell off.. the ten year treasury has now reached 2.79%..Interest rates are rising.
Is this a tentative return to normalcy after the decade long emergency measures in the wake of the 2008 crisis.

In March 2009 ..post tarp ...troubled assets relief programme?...I think..The Dow Jones was at about 6,400..
Then came QE1 ...The Dow is over 26 ,000 now and yet Donald Trump who did and said every thing you are not suppose to say on the campaign trail is in the white house. All those companies (same s&p and nasdaq) doing so well ( no) too.

The u.s. federal reserve bank talks about the economy, fussing over employment, inflation and growth . Think remainer and you have the type. But the truth is they are not federal , they have no reserves and they are not a bank.

They are a private Institution that pays an annual dividend to its stockholders of 6%. (Goldman ...jp morgan..citi etc..). It's a cartel or a trade union for certain banks. But the main thing you need to fix in your mind is that they have only one product namely debt.

And all you need to know about economics is that they push this credit into the banking system to create booms..how are you enjoying it..?. ....and then they take it out to create recessions. At the moment they are actually taking it out as evinced by the U.S. ten year now at 2.79%.. in a rigged system where the gold paper price is faked the ten year is your newspaper.
 billybonds
Joined: 8/8/2014
Msg: 110
Bitcoin fiat..the young can neither afford a house or a pension..with worse to come..
Posted: 2/2/2018 2:03:43 PM
The sell off in the bond market continues the ten year has now reached 2.84 %. The Dow has dropped 665 points .

Socialism is fine until you run out of other people's money

 Justanotherchap
Joined: 12/4/2013
Msg: 111
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History
Bitcoin fiat..the young can neither afford a house or a pension..with worse to come..
Posted: 2/6/2018 8:40:41 AM
Nah, it's all a bunch of scammers. I see Bitcoin is down to about $6000 and that the Bank of International Settlements has weighed in, in fact all the institutions who stand to lose power and influence don't like crypto currencies - wonder why?
 rekirked
Joined: 11/7/2017
Msg: 112
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History
Bitcoin fiat..the young can neither afford a house or a pension..with worse to come..
Posted: 2/6/2018 9:23:36 AM
People have been going into debt with real money to buy this stuff, I hope they lose everything, natural selection at its finest.
 billybonds
Joined: 8/8/2014
Msg: 113
Bitcoin fiat..the young can neither afford a house or a pension..with worse to come..
Posted: 2/8/2018 1:14:25 PM
With interest rates rising as indicated by the U.S. ten
year treasury the socialist pavlovian markets are having
another tantrum with this QT. Dow Jones down over a thousand
points now . The ten year looks like it's being bought now moving
from 2.84 to 2.83 to 2.82 but they increasingly look like they
have started a fire. .. hopefully they will put it out soon.
 Justanotherchap
Joined: 12/4/2013
Msg: 114
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Bitcoin fiat..the young can neither afford a house or a pension..with worse to come..
Posted: 2/9/2018 2:48:28 AM
As you've talked about before, debt is the big worry. The current markets are driven by derivatives often entirely funded by debt. I can't find it again but I read this morning an American commentator saying that when we have another bear market it will be the biggest of our lifetimes. I'm not sure how bad that actually would be but I'm sure a lot of rich people will make a lot of money and the rest of us will lose more of our pensions etc.

It really is about time the derivatives market was closed down.
 duracell_bunny_one
Joined: 1/21/2015
Msg: 115
Bitcoin fiat..the young can neither afford a house or a pension..with worse to come..
Posted: 2/20/2018 1:28:50 PM
Back in December, Mr Maduro said: "Venezuela will create a new cryptocurrency, the petro, so as to advance in issues of monetary sovereignty, to make financial transactions, to overcome the financial blockade.

.........so that's all right then..............

 billybonds
Joined: 8/8/2014
Msg: 116
Bitcoin fiat..the young can neither afford a house or a pension..with worse to come..
Posted: 2/21/2018 1:55:04 PM
And the bond market continues to sell off with the U.S. ten year at 2.95%. The Dow has fallen 166 points so the sell off hasn't found its way into the stockmarket. Where's the money going to go? Cryptocoins ? Commodities? Stocks?

The Federal reserve really needs to reverse the normalisation course it's on. They drove rates down ten years ago followed by the rest of the world and now here we are with them raising interest rates followed by the rest of the world.

Let's be clear ten years ago the world economy's insolvency became apparent and the bankruptcy of the socialist war machine was only covered over by bailout, eye watering debt rollover and Alice in wonderland like, unprecedented, negative interest rates.

Why the central planners would expose the insolvency of the system again now is annoying to me although I think recession is probably still twelve months away. But can they get away with the same playbook as last time ?

Obviously there's a chance and our future this way with universal incomes etc looks communist. Or we may have a market solution where we go through the painful bankruptcy of the socialist economic system with hunger and mass unemployment until we establish a real economy again.Either way the transgressions against free markets and sound money wrought by socialism are out there and working people are about to pay for them.
 Justanotherchap
Joined: 12/4/2013
Msg: 117
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Bitcoin fiat..the young can neither afford a house or a pension..with worse to come..
Posted: 2/22/2018 3:52:32 AM
"Back in December, Mr Maduro said: "Venezuela will create a new cryptocurrency, the petro, so as to advance in issues of monetary sovereignty, to make financial transactions, to overcome the financial blockade." - that's even more bonkers than bitcoin. venezuela has the largest resrvoces of oil and gas in th world yet there is no food on the shelves!
 billybonds
Joined: 8/8/2014
Msg: 118
Bitcoin fiat..the young can neither afford a house or a pension..with worse to come..
Posted: 2/25/2018 7:58:32 AM
It's $9, 561 at the moment.. down again .. Although what does that say about the dollar that people are willing to exchange the worthless note for some fairly well organised electrons.

Gold is not up too much so indolent but on its day seemingly dynamic. Bit like me. I didn't know that the Swiss franc had 40% gold backing up to 1999, when it then joined the IMF and started its long decline to zero value. The Swiss central bank are buying equities like over valued Apple with freshly printed paper to suppress their currency appreciating in value. Because of an erroneous perspective that it's worth something. If people want your toilet paper for Apple shares you would have to give them it.


No I don't own bitcoin yet. Stop asking me.

Can't believe the ten year treasury on Friday, it went from 2.95 to 2.86 in the session. That denotes huge buying, who is buying it? As bunny might say answers on a postcard. professional conmen the Bank of America believe with four rate hikes promised or threatened this year the ten year will continue to sell off and the market will have to offer 3.25% to get any bids.

Although the fed's Bullard was out playing down four and suggesting three. What a world. The S&P vix has continued
to fall (16) after the volatility of recent weeks. But let's be clear Without the rate hikes and balance sheet reduction (QT) the volatility will return. In fact without a return to QE or currency debasement ( that's us getting poorer) we are all going to hell in a handcart. No idea what that really means. But it can't be too positive.

Derivatives. No one seems to talk about them but rest assured that just like the Mortgage backed securities in the last crisis these fellows are going figure just as prominently in the next one. I mean there is a genuine need to hedge risk, say for a farmer concerned about his crop and indeed a speculator who would take the other side of the trade.

Indeed we famously live in a world where we don't have money but currency, so Plastering over that fundamental abyss, I can understand a farmer or a manufacturer's ... ie a person undertaking actual economic tasks... worrying over currency risks and for an inefficient fee handing the worry to a speculator.

But sitting above all that good and finite trade is a socialist casino. This could only be allowed by government. And this casino got started in 1997. Heralded by such giant statesmen as light touch Gordon who cheerleaded the regulatory gutting on this side of the Atlantic. Jo blames out of government and from out of space, John redwood..is that what's meant by cognitive dissonance?

But billy! I hear you say.. we needed the taxes to fund the slaughter in Iraq..I mean to treat our children in the NHS
and of course one or two of theirs.

And hear me..what is it with you lefty govophilles.. they inflate (for now) housing so no one can afford it..Inflate stock markets so no one can afford a pension not even gormless u.k. university Professors and then they inflate your medical costs and then still you cower under their rancid armpit. Hey it's what happens. ..wait until the food Bank.. military industrial complex gets going. Surely then we'll revolt.. peacefully. Remember what do we want ?? Not Jeremy ..but Money....if you don't fix the money you fix nothing.

Sorry where am I...yes the purely speculative derivatives complex or el casino..It is opaque ... but it's just a lot of
people placing large bets on all sorts of things like interest rate movements etc. There have been accounting games like "netting" and "comptession" that has served to obscure all this and by eliminating them from balance sheets it reduces reserve and collateral costs .

So derivative contract costs are cheap. $1.50 could control over a 1000 barrels of oil. Or 100 Oz of gold. So you could
for $1.50 (printed paper) sell 100 ounces of gold.. Thatwould suppress the gold price ? wouldn't it? Real stuff is finite? While paper or electronic digits are infinite?

I think derivative contracts are in the quadrillion dollars ball park ($1000 trillion ) probably much more. It will only take a single transaction to fail for it to go systemic again. That's why markets have to continue to be leveraged up, they can't go down . Interest rates can't go up too much either that's why the ten year is spooking everyone. It's QE to infinity which might prolong things.

This is a new economy. It's basically been created off capitalism over the last 100 years. We want socialism ..our government Left or right want our votes and the financiers want our labour's income streams ...still a win win for many if not the gathering few....but for how much longer. And guess who the patsies are? When our real living standards are revealed by real money.

Price discovery versus government mandated prices eh?
When will we learn.
 Squareslice
Joined: 10/17/2016
Msg: 119
Bitcoin fiat..the young can neither afford a house or a pension..with worse to come..
Posted: 2/25/2018 10:42:12 AM
Oh give it a break.... start living in the real world of earning a crust rather than shitting on the poor, You're just another scrooge that cannot enjoy life.
Too busy squirelling away to actually appreciate life. Live for today and not next year... ye may not be here. Carpe diem ya bore.
 billybonds
Joined: 8/8/2014
Msg: 120
Bitcoin fiat..the young can neither afford a house or a pension..with worse to come..
Posted: 2/25/2018 11:22:43 AM
I knew he'd bite forumites... sms ...bonds the prognosticator.

Message 119 ^^^^ ..you have begged quite a lot of questions there. But if you do past for excitement with the ladies then I want totally the boredom end of it all , thanks.

As for the substantive part of your post try and put one together.


Off topic I'm off to "sweat" a pipe ...
 Squareslice
Joined: 10/17/2016
Msg: 121
Bitcoin fiat..the young can neither afford a house or a pension..with worse to come..
Posted: 2/25/2018 12:09:50 PM
At least I do not harp on. As for prognastic, you were the one jerking off to bitcoin... did ye get burned, wee sac?

I invest in life. Me n my weans... no some financial thing that earns off me for doing eff all.
Every time ye invest, some suit somewhere is earning from you just by sitting at a screen.

Now, kindly eff aff n get a life.

edit... still trying to fully understand yer post, bondage... as in tied to lucre
 billybonds
Joined: 8/8/2014
Msg: 122
Bitcoin fiat..the young can neither afford a house or a pension..with worse to come..
Posted: 2/25/2018 12:33:02 PM
The plumbing can wait, I don't want a flood tonight.

I don't do anything sexually around bitcoin. I've never owned one.

I'm lucky to have the life I have and I'm very grateful I'm not you.

Sound money is the key to a fairer society.

I'm now off for my rump lamb ..
 heavenlivesnear
Joined: 8/29/2016
Msg: 123
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History
Bitcoin fiat..the young can neither afford a house or a pension..with worse to come..
Posted: 2/26/2018 12:39:59 PM

still trying to fully understand yer post, bondage


but you decided to knock it anyway...?
 Squareslice
Joined: 10/17/2016
Msg: 124
Bitcoin fiat..the young can neither afford a house or a pension..with worse to come..
Posted: 2/26/2018 5:30:12 PM
Under the right to reply. I respomded... still awaiting the financial expert to explain his utter pish


In order to maintain the highest quality forums you are restricted to having no more THEN 2 of the last 10 posts on a thread.
Since 2 of the last 10 posts are yours you can not post to this thread.

Retarded tossers that used THEN
 billybonds
Joined: 8/8/2014
Msg: 125
Bitcoin fiat..the young can neither afford a house or a pension..with worse to come..
Posted: 2/26/2018 9:41:01 PM
^^ lol let me explain than... you're a wee bit lowly ..

It's better to converse with your puppy nx there is
something way more decent and lovely there.

Sound money before fiat money. I'm not a financial
expert everyone ...we know billy... just bored with
the left.. right way of looking at power . When there
are monetary shenanigans behind the curtain.

I'm more bucks fizz than... download...is it? I honestly
love them their fans are so much lovelier than download
...fill in blank.....

I've also got to go to work.

Now in your charming vernacular ...**** off you scruffy loser. ;)
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