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Show ALL Forums  > UK forums  > Bitcoin - just how bonkers is it?      Home login  
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 Theydidnotfixit
Joined: 8/19/2018
Msg: 199
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Bitcoin - just how bonkers is it?Page 9 of 9    (1, 2, 3, 4, 5, 6, 7, 8, 9)
Bitcoin this week is $6, 624 ...gold $1,192.... silver $14.62

Theresa May is the primeminster this week.
The police are getting younger by the week.

FDR's executive order 6102..in 1933. Was that the fecking executive order that destroyed the world ? Ushering in the 1% and socialism ?

Chap' s quite right it is about energy. We wouldn't have had an economy these last 100 years plus without cheap and plentiful fossil fuels,which we have spilt so much blood over. And we should have that uppermost in our minds when we concern ourselves with the red ink that abounds in this insolvent world.

The economic cancer is the dollar . A piece of paper backed by violence. Although according to the BBC, remoaners and lentil eaters it's the most joyous and safest piece of paper in the world. It's money! It's backed apparently by the full faith and credit of the Government of the United States of America. Who am I ?.....to question these great people. These people are great! So they are up to their ears in debt, rapists and opioids and they voted for Donald but their piece of paper is money. And unless you want to go the same way as Saddam and Muammar and over a million of their people and counting you had better get with the program.

The emerging markets ( we use to call these people the third world or was that the second world? ) are still in turmoil. Although on Bloomberg this week they were trying to sell them as a great opportunity ( I think the central bank interest rate in Argentina is 65%) China an emerging superpower creates $20 trillion of credit to create just $5 trillion of GDP. Yeah how much longer can that go on.

But this all won't touch the foundations of western socialism or fascism. That Japanese 10 yr is paying 0.12% . The American 10 year is paying 3.06%. And the European 10 yr is ... you see or (eu-c) things are a little bit more complicated in the gulag because they don't have one.

No billy?

Nope ...billy...

Oh ....

What you have billy is the fourth Reich. Number iv.

Is it going to be better than no 3 ....???

Ahem ...what we have is a misbehaving Reich . Italy have, like the British have, gone in for a bit of democracy and it's not gone down too well in Berlin. Essentially Italy wants to spend money on the electorate and Germany doesn't want them to. Preferring to spend any money on Germans.

It's all gritted teeth and lovely...But the German 10yr is only paying 0.47% ( they have the printing press) which is a great interest rate to go shopping with. Alas the Italian 10 yr bond which was only 1.8% in may is now 3.14% . This is because the ECB hasn't been printing and buying the usual amount of Italian paper lately. It's simply the Germans explaining that they are in charge and if they don't want their interest charges on existing and new debt to go up meaning less money for schools and hospitals they had better come to heel.

SO dollar dynamics causing emerging market turmoil. Which leads to the Gulag and Japan. Which leads to the debt serfs, rich and poor,to go running around seemingly with ants in their pants and taking refuge under the moobs of Dollar Donald. And well ....surely they'll then say he's fecking naked.

It's true a long war would be a good way for government to have society go through the obvious austerity that's coming. Voters go off to die. And others are easily convinced to sacrifice for the greater good.After living standards are collapsed it will be possible to campaign about hope again. It's cheaper. Although energy is important.


Myself ? Well I think asset price inflation, which I felt made me such a hotshot and stud is the most dangerous inflation of all. The winners feel so good and the increasing losers who have no idea they are being looted at first, don't get really angry for ages.
 Justanotherchap
Joined: 12/4/2013
Msg: 200
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Bitcoin - just how bonkers is it?
Posted: 10/1/2018 4:32:38 AM
In a nutshell, that's what I was trying to explain.
 Justanotherchap
Joined: 12/4/2013
Msg: 201
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Bitcoin - just how bonkers is it?
Posted: 11/23/2018 2:39:01 AM
Bitcoin $4373 - not plummeted yet. But way off the $20,000 dollars it was just earlier this year.
 Theydidnotfixit
Joined: 8/19/2018
Msg: 202
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Bitcoin - just how bonkers is it?
Posted: 11/25/2018 5:49:45 AM
It's   $3, 800  ......at the moment..


It's been going South since it got its derivative market. This is a market where you buy promised Bitcoins but ordinarily you don't take delivery of the pesky electrons. Because the contract couldn't be really be honoured if all did that. But it does skew Supply and demand which affects price but no one important goes to jail for manipulating prices because It's a remainers' thing. 


Still I can see circumstances where this all goes up again, that is, if the tea well and truly hits the fan and money in need of a vehicle for its safety makes its way back in to this encrypted , aspiring money. 


Don't forget the so call fang "tech" stocks ( Facebook, Amazon, Netflix and Google or alphabet ) have lost more in their capitalisation lately. 


Did I mention that U.S. oil benchmark, West Texas intermediate, is down to $50 dollars from $76 just a few short weeks ago? Oil is great! Arch remainer and utter shyster, Tony Blair killed a million Iraqis over it. And journalist dismemberer and our close friend Mohammed bin Salman aka MBS,  ( named after the derivative that led to the 2008 collapse) has starved over 85,000 children  under five in Yemen for it . Education. Education.  Education eh ...


By the way I hope the journalist Julian Assange doesn't get cut up. He appears to have done nothing wrong, only his job. Which I suppose is a naughty thing in this world.  


So why are we not buying it? Could it be that we are pumping too much of it? Or could it be, since it involves itself in a plethora of manufacturing processes, we are using less of it or put another way could it be that production or growth is declining ....fast? 


But billy, I hear my lovely, dear lone reader say ..... cheaper oil is like a tax cut and hence a stimulant that will put a floor under growth. And a lower stock market makes pensions cheaper for the young, increasing demand for them. Yes, but lower oil prices hits shale oil's lack of profitability even more. If it wasn't profitable at $76 dollars, $50 is going to spill even more red ink. And what about retirees , the baby boomers ,watching their pensions shrink by the day. Do they have time to wait, at best, 10 years for another chance of retirement at present prices or will they head for the exits now. Selling begets selling. At the moment,  we are heading for a great depression.


The cause of all this is the strong dollar. The present system needs a weak dollar and plenty of them. While this is not good idea for working people. The alternative within the dollar reserve system is actual austerity. 


There is of course some cognizance of this in policy circles and one can expect an attempt by our authorities to manipulate something soon. At the moment it's only the world's minions who are suffering, so who cares, they bring it upon themselves by being born in minion countries. But Germany with their exporting model has already had a quarter of contraction and another one would mean a technical recession. It just needs America who believes it is enjoying a boom to wake up pronto, as evidence to the contrary of their lack of boom or more precisely bubble, mounts daily. 


Worth pointing out the problem again is the federal reserve dollar note (an IOU ) and all the debt it has gathered around it. Like student debt and corporate debt both of which didn't feature as prominently 10 years ago as it does now. General Electric is a poster child for corporate debt with $122 billion of it traded. We will be hearing a lot more of this debt soon as the regulators have to decide whether this debt is investment grade or high yielding (junk), with frightening implications for many corporations and people. 


How has the gross economic incompetency gone on for so long. The simple answer is the manipulation of our money and then the exporting of it to the rest of the world by uncle Sam . The printing presses can now never ever be turned off, in my amateurish opinion.  It's not brexit , it's the "money" stupid ...to paraphrase someone...


Now a few terse words on Brexit ...it still hasn't happened..June 23rd 2016.. and still waiting. Democracy would be a good thing Primeminster.  We voted to leave ie a hard brexit ma'am. 


And also a short few words on the second world war.


I'm so glad we won the war.  The third (?) Reich wouldn't have been my cup of tea,  tied into to a German superstate running our lives to their benefit. And Quisling countrymen nudging me into Heil Adolfs....


Off to Clandon for lunch now , a sincerely happy and warm sunday to each and every one of you lovely forumites ...you know there's no one on here I dislike ....at the moment :) We are in a very special place, you are all so very lovely and special, love billy Xxx
 Theydidnotfixit
Joined: 8/19/2018
Msg: 203
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Bitcoin - just how bonkers is it?
Posted: 12/4/2018 2:26:07 PM
It's 3,943 as I type .

We have had an inversion today between the 2 and 3 year treasuries and the five. The bond market has lost
confidence. The Dow was down 800 points.

I think the Fed will take the rate hikes off the table for next year. Even the chances of december' s one is now growing less certain everyday.

Germany's my pick to be in recession first. But America will join them next year. Can't see
Donald boosting about the greatest ever, booming economy next year. What will he do...


This is a tweet from today..


Donald J. Trump

@realDonaldTrump

....I am a Tariff Man. When people or countries come in to raid the great wealth of our Nation, I want them to pay for the privilege of doing so. It will always be the best way to max out our economic power. We are right now taking in $billions in Tariffs. MAKE AMERICA RICH AGAIN


You'd never believe He's actually taxing Americans would you.
 Justanotherchap
Joined: 12/4/2013
Msg: 204
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Bitcoin - just how bonkers is it?
Posted: 12/5/2018 1:42:37 AM
'tis a strange thing. America believes itself to be rich nd the powerhouse of the world, in many ways it is. But only because of the artificial construct of the mighty dollar. Even drug dealers in the Brazilian jungles need it! But htat just means America is able to buy stuff without actually giving anything in return except a gigantic promise which can never be repaid.

Do you remember those mashed potato ads with the little men laughing their socks off at us beating potatoes into a pulp? I wonder what they would make of our monetary system?
 Theydidnotfixit
Joined: 8/19/2018
Msg: 205
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Bitcoin - just how bonkers is it?
Posted: 12/9/2018 3:27:17 AM
It's $ 3,400 .....down down deeper and down....Will it ever go back over $20,000...

I do remember chap. I don't remember if I had their potato instant mash, I may have had, and it may have been ok but mash done right is worth pursuing. I love chips , roast potatoes....mmmm..Yes I'm having them soon .. but mash potatoes done right, stomped on with plenty of butter can be orgasmic, yes that good. So stuff the Alien haters and keep pulping.

Where am I....ah yes ....one Simon Mikhailovich

" If one offered investors a fat tail put option that never decays or expires, costs about -1% pa to carry, has no counter party risk & no chance of ever becoming worthless, there would be a line out the door. But when one explains that this option is physical gold... no interest."
 xsjado
Joined: 12/4/2018
Msg: 206
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Bitcoin - just how bonkers is it?
Posted: 12/19/2018 9:51:32 AM
sell sell sell might as well sell it now all gone and pointless
 UKBunny
Joined: 8/10/2018
Msg: 207
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Bitcoin - just how bonkers is it?
Posted: 12/22/2018 6:57:39 AM
"Bitcoin has dropped by 80% in one year"
(sky news)

Happy Winterval

 Theydidnotfixit
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Bitcoin - just how bonkers is it?
Posted: 12/25/2018 12:15:49 AM
Bit coin is at $3,800. Gold is at a £1000 ($1270) for Christmas day. And 2019 will be economically difficult to say the least.


In a week where some award winning journalist with der Spiegel has been revealed to be literally making it up for seven years, let me just say, we are lied to all the time. We even tell ourselves whoppers. 


Our lying remainer elite's lie about Gobal synchronised growth has run into the reality that they did not fix it. Since October 3rd, dearest Donald has grown very silent over the greatest economy ever.West Texas intermediate has crashed from $76 dollars to $42 dollars a barrel. The Dow Jones has fallen 5,000 points. 


How much does your house really cost ? Ten per cent of what you are told. How can your pension get paid when we have a system of debt serfdom ? Can't. 


As global monetary supply sickens, the desperados who have impressed some up to now with their inequality making printing presses will no doubt try again but this is not 2008, we have moved on . I expect epic monetary manipulation and great panic.
 woz1968
Joined: 10/31/2018
Msg: 209
Bitcoin - just how bonkers is it?
Posted: 12/26/2018 3:47:57 AM
I called this nonsense in post 2. I was right but I am surprised it still has any value at all.

I’ve also called house prices time and time again on here. The only reason they haven’t sunk back to 4x average incomes is cheap money and now fake money. The only way out of this is a global reset. My own personal opinion is Brexit was engineered and we were manipulated to vote leave. This will be the trigger or a partial trigger for a mass clear out and an asset price crash, which is 10 years over due.
 Theydidnotfixit
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Bitcoin - just how bonkers is it?
Posted: 12/27/2018 12:52:04 PM
It's $3,688. ....Gold is up to $1010.... both these markets have derivative markets. Pieces of paper that says you own them!Alas it's almost certain  you won't get them when you really need them. As the paper is supplied at the drop of a hat to squash price. 


Yesterday, Boxing day, the Dow went up 1000 points. Wow, the economic future must be ( let's ignore the 5000 drop since October 3rd) so bright. Donald Trump went on telly and said buy it, and someone did.


Unfortunately, I think this is misleading.Oil does not drop over 40% in a booming global economy as West Texas and Brent have done without a collapse in supply. Or a collapse in demand and that's what has happened. 

So you can credit Trump or put it down to a dead cat bounce or more likely some massive short covering but the market is going to fall until the central banks cover their malfeasance with even more debt. 


What comes next: The global economy is clearly heading into recession. I grew up thinking we were capitalists and derived our prosperity from it. Up to a point. 


But we in the west also kill for our prosperity. And as we grew prosperous a section of our elite began taking a greater and greater share of it. Once you are ok with murder i guess thieving is a mere bagatelle. We also punished electorally any politician who wished to limit the state. 


I'd say a belief grew up that central banks could iron out the business cycle and as economic distortions became hideous a confidence grew in these banking cartels that they were not the cause of these deep recessions but the saviour and the wealth creators. 


It's gone on so long, I understand the belief. It's a terrific fantasy but one that's ending. 


I think before all this ends bitcoin could go backover $20,000. Gold $10,000 (my horse). The Dow ;) over 40,000 and the bond market to zero. Interest rates at 30% anyone . You've been duly warned
 Theydidnotfixit
Joined: 8/19/2018
Msg: 211
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Bitcoin - just how bonkers is it?
Posted: 12/28/2018 12:57:14 AM
Oops....An increase in supply... a glut ....which hasn't happened . ...me a cuppa...anyway it's a collapse in demand..

West ham won...

Bros on bbc4 is apparently worth a watch...

I do hope everyone is recovering.

It's nearly 9am on the 28th of December 2018..

It's never clear what time is it on pof.

Weirdly correct at the moment ....but I bet it changes..

Deutchebank is falling......or failing ..$6.80 ...serious stuff...
 UKBunny
Joined: 8/10/2018
Msg: 212
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Bitcoin - just how bonkers is it?
Posted: 12/29/2018 6:48:58 AM
Northern Irish savers 'buying gold' (Sky News)

 vlad dracul
Joined: 4/30/2009
Msg: 213
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Bitcoin - just how bonkers is it?
Posted: 1/11/2019 10:14:52 AM
Here did any of yous read this in the grauniad the day?


"Until 2016, I ran an advertising agency in London. At our peak, we were highly successful; I had a team of 35 people, a £3m turnover and a Covent Garden office. When the agency folded, I decided to invest in bitcoin.

Bitcoin is a cryptocurrency, a type of electronic cash that allows people to spend or trade via a peer-to-peer network without the involvement of banks or other intermediaries. It is a cheap, efficient way of transferring funds or holding value, which can be converted back into sterling at any time. I had used it before to buy treatment online for my mother after she was diagnosed with cancer. I had also dabbled with investing in it in 2013, and made and lost some money: bitcoin is prone to sudden fluctuations in value.

At first I deposited £5,000; at the time, January 2017, bitcoins were about $600, so I bought seven or eight and spent the rest on other cryptocurrencies. But over the next few weeks I became hooked and ploughed in a large chunk of money – £23,000 in all. I remember telling people, “I really think the value of bitcoin could rise to $2,000 this year.” I could never have predicted it would peak at 10 times that.

By the middle of spring 2017, my investment had risen to about $300,000, and by the summer it was at half a million. Media interest in bitcoin was growing and friends kept asking how they could get into it, so I started a Facebook group, then a website and finally a podcast devoted to the subject.

As excitement built, more and more people got involved, forming the conditions for a bubble; but many of us were too caught up in the hype to exercise caution.

At the end of 2017, bitcoin had reached almost $20,000 and my portfolio had ballooned to about $1.2m. That is when I got a little out of control. I have always been an entrepreneur, and since I was a kid I had dreamed of buying my local football club, Bedford Town, becoming chairman and getting them into the league. I thought the project might cost £5m, so that was the figure I decided to aim for. I estimated I could get there within six months.

I still believe that bitcoin is a force for good. I recently interviewed Alex Gladstein of the Human Rights Foundation, who was explaining how it helps people living in authoritarian regimes to prosper – for example, women in Afghanistan who are not allowed to open bank accounts can still work and get paid in bitcoin. It is a step in the right direction. My main focus now is exploring how bitcoin could help stabilise an increasingly volatile world."

https://www.theguardian.com/technology/2019/jan/11/experience-i-lost-1m-on-bitcoin
 woz1968
Joined: 10/31/2018
Msg: 214
Bitcoin - just how bonkers is it?
Posted: 1/11/2019 12:24:08 PM
Got to love the way he intertwines blatant greed and the oppressed women of Afghanistan, it almost brings a tear to the eye. All it would have taken was the mere mention of a donkey sanctuary buying straw in crypto and i probably would have welled up and completely forgotten that actually, he's just a very greedy and very stupid cvnt.
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