NottsRam77
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Posts posted by NottsRam77
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21 minutes ago, Comrade 86 said:
And this is why I CBA with this thread. I've said historically that any lengthy plateau has most often been a portent to balancing, NOT that there's never been a plateau before. Try reading what folk say before jumping in with 'go look at the charts' comments.
Enough's enough. I'm out.
There is irony here, that u chose to ignore that i had so many times said DYOR and that history means nothing
but hey
best of luck
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7 hours ago, Wolfie said:
How is your fuel bill still going up?. That's one of the negative drivers that's brought average inflation back down to what it is now.
So if your car insurance is now £41.50 / month and your council tax is now £221, that's only a fraction of your total monthly outgoings - which will be offset by stable or falling prices for other stuff (petrol, gas/Elec, some food etc etc).
in the last 2 years or so its gone from 1100 a year to whatever it went to for all of us cos of russia and has now settled back down to 1500… with talk of a slight
increase latter half of the year and a slight pull back start of next
i make that about a 40% increase in the last 2 years …..
that aint 2% measured inflation is it
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1 hour ago, Comrade 86 said:
Just my opinion, but I think now is a terrible time to be buying BTC. The price has plateaued for probably the longest period ever and price history shows that any sustained plateau a is typically a portent to another dip, or 'balancing'. That's always been the trend with BTC and why I've always favoured playing in the dips over the HODL strategy, as doing so greatly increases the amount of coins one accumulate over time and also affords investors a means to play with profits, not savings. It's one of the very few absolutes for me.
Of course as with any investment, past performance is not a 100% indicator of future values, which is why I get testy over anyone suggesting or implying that BTC trumps all other investments, though I do agree with @NottsRam77's assertion that the price is likely to continue to climb over time.
My guess is we'll see BTC balancing down to somewhere between $35K and $50k, before rallying to in excess of $100k in 2025/25, but there are a number of outside factors that worry me, that give me pause for thought. The regulatory outlook seems to change daily and with elections both here and in the US, who really knows how the new incumbents will view things? There is a growing and increasingly noisy group of lobbyists unhappy with BTC's carbon footprint, a not unreasonable stance IMO and from a transactional perspective, regards for mining are coming under ever-increasing pressure.
Equally, there are also some strong positive indicators, greater uptake of the BTC blockchain in the financial sector being a good example, that could really benefit BTC holders. Visa and Mastercard are increasingly using the chain to validate payments and are even extending that to significantly less mainstream blockchains, Solana being the latest addition I believe and this is only one of the reasons I believe that out of hand dismissal of all alt coins (read 'blockchains') makes very little sense.
By the same token, some folk seem to believe that the value of BTC is notional and to a degree, it is, but a fundamental understanding of blockchain tech and it's related eco systems would explain why it's not purely notional. The fact is, this is a volatile and ever evolving landscape and anyone wishing to get involved really should spend some significant time researching the subject, hence my DOYR mantra, the only 'absolute' I stand by.
Please note , I have been very clear, very categoric and repetitive with regard to do ur own research and repeatedly on here said that past performance is no indication of future performance of any asset.
However i believe that if u do ur own research and learn about bitcoin … and not from some guy from a football forum you will start to understand where im coming from and why im so passionate about it, and why imo its the superior asset class to beat inflation.
it is volatile, but its still in its infancy stage .. adoption… and its getting adopted which i have already covered.. soon to be in every pension pot on the planet.
Re your first Statement …….
Go look at the charts , bitcoin had plateaued for 6 months after the halving on most other cycles so this is absolutely nothing new.
in terms of worst time to buy bitcoin, depends on your belief in it and ur timeframe which is down to the individual. We are start of the bull run, is it the best time to buy no.. is it the worst no.Totally agree the regulatory landscape is always changing.
what is interesting now though is that bitcoin is now seen as a potential vote winner such is its fanatical slightly cult like support.
youve got trump in the states being very very vocal over his support for it and to keep the regulators off our crypto.. now does he mean it ? Probably not.. but thats not he point. The point is wall street are now behind it and it means that bitcoin cannot be ignored and is very much part of the global future financial framework.
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11 hours ago, G STAR RAM said:
Your experience of inflation isn't how measuring inflation works though I'm afraid.
My experience of Bitcoin is that it's earned me nothing over the last year but my bank account has earned me interest at a higher rate than inflation.
Does that mean that having money in a bank is better than having Bitcoin?
Obviously that's a rhetorical question.
I measure inflation on how it effects me.. how my bills have gone up, how my food costs have gone up, how going out for a beer or aa meal has gone up, how much my wrap around child care has gone up. Etc etc .. none of those have gone up by just 2% as i said in most cases its about 5x that.
if ur bitcoin hasnt gone up in the last year then i suggest u must have bought quite recently and in which case arnt investing your gambling…. And hoping for a quick buck (see chart) not a pop just an observation.
I bought in the last year too and that investment has nearly 3xd. 🤷♂️
I also topped up some at 65k… so that hasnt gone up yet either, but i believe in the long term process and all the pap iv spouted previously that im sure u dont want to hear me go through again😂🙈
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4 hours ago, Returning ram said:
If you listen to someone on a football internet forum on where to invest your money and it goes wrong then you only have yourself to blame im afraid.
I have a friend who invested in bitcoin in its early days, started trading in different Cryptos, they need to remove it now and have made seven figures from it, had they remained in their original investment, would have been 9 figures. They have struggled to get the bank to take the money, has taken months and has been a real problem for them.
They have retired now, no need to work again, however they aren't going to reinvest that money back into Crypto, because as they say, that is their nest egg and they can't continue to gamble with it. Me, I'll stick to premium bonds, won 800 over past two months, may not win another penny for rest of year but I know my money is safe with a chance of winning something.
Im not good enough, confident enough or believe enough in different cryptos (altcoins i assume) that is gambling in my eyes as altcoins are the wild west for reasons i have discussed.
theyre a totally different being to bitcoin.
but well done ur buddy, fair play to him but its not a strategy i could go with or would suggest to people .. cos its hard, really hard and risky
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5 hours ago, Day said:
Even DYOR for example is an acronym some new to investing may not even know, that’s where some of the dangers lie, not truly understanding what people are actually telling you.
Agree , but if ur putting hard earned money into anything … literally anything bitcoin, stocks, property a purchase off amazon any sane person does a bit of digging first.
I mean if ur new to investing, you would do some research first before aping in… DYOR is just a jazzy way of spelling out the obvious and what any sane person would do anyhow
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1 hour ago, Returning ram said:
If you listen to someone on a football internet forum on where to invest your money and it goes wrong then you only have yourself to blame im afraid.
I have a friend who invested in bitcoin in its early days, started trading in different Cryptos, they need to remove it now and have made seven figures from it, had they remained in their original investment, would have been 9 figures. They have struggled to get the bank to take the money, has taken months and has been a real problem for them.
They have retired now, no need to work again, however they aren't going to reinvest that money back into Crypto, because as they say, that is their nest egg and they can't continue to gamble with it. Me, I'll stick to premium bonds, won 800 over past two months, may not win another penny for rest of year but I know my money is safe with a chance of winning something.
Everyones different
as i said DYOR and whatever works for you then go with. We all have different outlooks and risk tolerances and shouldnt deviate from our beliefs
i deem holding money in bank a risk as i know it will lose value against real inflation. Im not saying im Right its just what i believe.
prem bonds, stocks and shares , property etc etc can all work for people and gives them the security they are happy with.
imo diversity is also key
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11 minutes ago, Day said:
If the FCA are reading, I am not a financial advisor, this is just my own personal view.
Never listen to people on the internet what to do with your money, especially through social media/YouTube.
Too many shills and influencers out there with only one interest in mind, their own. Ask yourselves why someone on X would want to make you rich, why this attractive woman on Instagram in lingerie is promoting a Crypto coin.
Investing your hard earned money correctly is one of the biggest challenges we all face, do your own research then if it fails or returns you a lot of money, that is on you.
Obviously .. as i have stated previously DYOR .. always No matter what ur spending / investing your money in
im merely interested in protecting my savings and theyre value and spending power and find the who subject interesting when dive into our financial system and how it works.. or doesnt as o believe the case to be
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16 minutes ago, Comrade 86 said:
In other news, I've just dumped my entire holding @ £52k and change. I 'd explain why, but you wouldn't listen to a word of it so instead I'll just wish you all the best.
I actually would
but cest la vie
all the best
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1 hour ago, G STAR RAM said:
You do realise that the figures released are an average? So taking your own situation and applying it to the whole country probably doesn't work?
Obviously they're my own figures, its my experience of inflation
but are u telling me your car insurance , fuel, telecomunications and council tax etc havent gone up by more than 2% in the last year ? … or the year before that ?
everyones figures will be different but i can wager theyll be an obvious trendso if ur saying that the ‘measured’ inflation is an average of consumer products can u tell me what has actually come down so exponentially do average us down to to 2% if all the obvious stuff has gone up so much
not arguing with u , just genuinely dont see how its not anything but total spin from the powers that be
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24 minutes ago, G STAR RAM said:
Yes, I assume we all get payrises too?
But not in line with inflation.
my mrs is a teacher and sister a nurse
so am well aware of this
my car renewal quote went from 297 to 498 …
my expected fuel bill sits at circa 1500 from 1100 per annum.
council tax 205 to 221 per month (whats that 7 ish percent)
Actual inflation vs measured inflation
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10 hours ago, G STAR RAM said:
Inflation is currently around 2.3% compared to the 4.95% on a savings account?
See my comment a couple of posts below
theres a fundamental difference between “measured” inflation and actual inflation.
a manipulated basket of goods vs actual realtime rising costs like car insurance, water rates, council tax, telecomunications all risen in the last year 5x ahead of the supposed current 2 point Whatever “measured” inflation rate
what they spin u and what actually happens …. Two very different things.
it amazes me people (not getting at u at all) are so blind to iti mean.. we all get the same bills right? 🤷♂️
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9 hours ago, Comrade 86 said:
Erm u know they change the baskets of goods they use to measure inflation.
coffee and olive oil used to be in the basket but they went up 70% so they have now been removed.
Fuel bills remain what 20,30,40 percent higher than they were 2 years ago.
car insurance .. 40-70% renewal quotes.
council tax 7- 10%
Water .. what are they lobbying from us now .. 30 - 50% increase?
virgin/sky … mines gone up 10% basic package
even a fricking happy meal has gone up 10% plus lol
”measured” what they want to tell u inflation and actual inflation.. two very very different things
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23 hours ago, G STAR RAM said:
What about the interest earned on your savings?
the interest on your savings wont keep up with inflation, not even close
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4 hours ago, Comrade 86 said:
The only message you should be pushing is DOYR. That's all the evangelising that's needed, or warranted. You are not an investment specialist and you really need to stop presenting yourself as one. No disrespect intended, but anyone taking your mantra at face value could find themselves in all sorts of bother. To my way of thinking, posting fundamentally flawed advice like the above is shilling, not advising and as you know, I hold Bitcoins myself. Not trying to get on your case here, I just think that for some, the line you are pushing is a very dangerous one.
I have stated throughout this thread MANY a time DOYR and only ever invest what u can afford to lose no matter what u invest in, bitcoin or otherwise
And that video is slightly tongue in cheek, but he has a point at the end of the day.
cash in the bank is losing value annually .. its a fact that no one can argue with
how u beat that inflation is totally down to the individual.
but theres only so many answers right?
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On 12/06/2024 at 07:24, G STAR RAM said:
Might be being thick here but surely they would have been better saving in dollars?
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On 12/06/2024 at 21:11, NottsRam77 said:
Simple terms , and im not being condersending just its hard to explain over text but its bitcoin.
If ur trying to beat inflation and protect the value of ur money over time its bitcoin.
the pound, the peso, the euro lose value against the dollar, the dollar is the worlds currency everyone buys goods and commodities around the world in it, there is a demand for it. Outside of the uk how much demand is there for the pound.. bugger all
so these other currencies lose against the dollar as they are weaker… and they lose to government inflation.
the dollar loses its value against inflation and bitcoin
bitcoin beats inflation
if u dont believe me theres about a million charts showing each asset against the other and inlflation over time
Googled it
in 2002 the peso was 1-1 with the dollar… btc came along 2008/9
so yes btc has expondentially and immeasurably outperformed the dollar in that time frame
what i will say though is back then and for the next however many years no sane person would have seen btc as a store of value as it was literally then this internet magic money.. its come a v v long way since
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23 minutes ago, G STAR RAM said:
But in the example given, would the person have been better holding dollars or Bitcoin?
Simple terms , and im not being condersending just its hard to explain over text but its bitcoin.
If ur trying to beat inflation and protect the value of ur money over time its bitcoin.
the pound, the peso, the euro lose value against the dollar, the dollar is the worlds currency everyone buys goods and commodities around the world in it, there is a demand for it. Outside of the uk how much demand is there for the pound.. bugger all
so these other currencies lose against the dollar as they are weaker… and they lose to government inflation.
the dollar loses its value against inflation and bitcoin
bitcoin beats inflation
if u dont believe me theres about a million charts showing each asset against the other and inlflation over time
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11 hours ago, Stive Pesley said:
Yeah @GboroRam made the same point.
As things stand the value of BTC only has any meaning in relation to how much it is worth in exchange for currency you can actually spend
Plus good luck to any country adopting it as an actual currency, trying to navigate the volatility
If you look at the last 5 years chart of GBP vs USD, it has varied but the difference between the high and the low is only like 30 cents
If you look at the last 5 years of BTC vs USD it's also been up and down the difference between the high and the low is about 60,000 dollars!
You’re debating which dirty shirt to get out of the laundry lol
The message is clear. If you SAVE in ANY fiat currency over time, you’re getting slowly destroy. It is literally a mathematic certainty. The debt based system is designed to expand ad Infinitum.The points you make are about the ability to spend the currency is not a new one. I’ve bought drinks and food numerous times using Bitcoin. The vendor/recipient receives whatever currency they choose to. It doesn’t stop me holding bitcoin in favour of any other fiat.
Do I hold a small amount of fiat? Absolutely I do. There are things I have to buy in fiat and there’s no method yet for me to use direct debits etc.
Bitcoin is currently maturing into the store of value phase of adoption.
Next, timeframe 10-20 years, will be the ‘unit of exchange’ , following that, the unit of account phase.
However, by the time it’s obvious, the opportunity will be greatly reduced compared to what it is today.
It you’re likely to need the money in the coming 1-2 years, then I’d advise caution, and your scepticism may be well advised and well placed.However, if you’re in a position where you can afford to lock a little up and forget about it for 4 years or more, then it’s insanity to hold something that is mathematically certain to be debased.
Here’s a link. When the number on the top left, starts going down. Please let me know, as I’ll be holding Bitcoin whilst you’re all asking yourselves why your bank card doesn’t work. Lol
and now watch this
this is why im so passionate about bitcoin
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12 hours ago, G STAR RAM said:
Might be being thick here but surely they would have been better saving in dollars?
Quite simply if u sit and hold in dollars, pounds or whatever fiat currency u want you are losing that moneys buying power to inflation.
A slightly over the top example, although not with recent inflation. Buy say u saved £1000 4 years ago when a loaf of bread could be bought for £1… 3 years later, 1 horrendous government mini budget and some even worse inflation and those 1000 loaves u could buy and now costing u 1200-1300 pounds
so your losing your buying power
to protect your wealth against inflation you need to keep in assets that will appreciate over time at a faster rate
some try to do it through stocks and shares, some try to do it through gold, some try to do it through property.
i choose to do it through bitcoin because historically its out performed all the others over any sensible time frame.
Property u have maintenance costs, agents fees potentially and having to deal with tenants and its supply is constantly being diluted as more are being built all the time
stocks and shares your investing in companies and hoping their operators and owners make the best decsions that are right for share price.
gold meh…. Buy it, store it… its still being diluated as more is being mined
bitcoin, known supply, easily stored, cant be manipulated by gov policy , no shareholders to pay, etc etc
and it kicks the ass of inflation lol
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On 04/06/2024 at 17:17, cstand said:
Mexico stock market dropped 11% after electing a leftwing president.
Bitcoin now over $70,000 up 2% Gold down 1%
All a bit bizarre but if you live in a country with high inflation, corruption and high death rate Bitcoin might make sense.
It totally makes sense, u have control of ur own money and no one can freeze or confiscate it if u keep it in cold storage. U could cross a border with ur ledger holding millions and millions of dollars and no one would have a clue. Try doing that with gold or hard fiat when escaping conflict or tyranny
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21 hours ago, GboroRam said:
Or dollars.
Yes … but while the value of the peso is being inflated to oblivion against the dollar ….. the value of the dollar is also being inflated away too
the only way to protect your wealth against inflation is to put it into inflation beating assets and historically theres one obvious winner.
also i wouldnt trust a Mexican bank/ gov as far as i could throw it
much rather have self custody of my owm money if i was in a latin american country
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8 hours ago, cstand said:
If you live in an unstable country like Mexico where drug cartels, and corruption is part of every day life it would be very risky to buy Silver or Gold without the drug cartels finding out.Buying crypto would be more secretive unless you brag about, so would be a safer option in a country with a high murder rate.
Obviously there is no guarantee but it is a factor I had never thought about before when considering why people would want to buy crypto instead of PMs
https://worldpopulationreview.com/country-rankings/murder-rate-by-country
Also If u live in mexico or any south american country your being absolutely shafted by inflation as ur local currency continues to go to absolute s*** against the dollar
saving in bitcoin in these countries for that store of wealth / and security of that wealth is an absolute no brainer
The argentinian peso used to trade at 1 : 1 against the dollar
as of this minute is trading just shy of 900 peso to the dollar
Thats why u (they should) save in bitcoin
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Managed to pick up tickets last night for catfish and the bottlemen in cardiff in july …. Cant blinking wait
after a 10 year absence from gigging for several reasons, cant wait to get back on it.
blossoms supported by shed seven also booked for later in the year in manchestaaaaar 🥳🥳
World of crypto
in The Jim Smith Room
Posted · Edited by NottsRam77
I think theres a little confusion there
let me try and explain
Anonymity isnt one of bitcoins features/ selling points
quite the opposite, transparency.
I can send u £1000 of btc and anyone in the world, anywhere in the world can view that transaction. Bitcoin is a public ledger for the planet… just think about that for a second… i think thats mindblowing
no one can change the transaction, no one can delete it, copy it, reverse it, manipulate it. Its there.. forever for anyone to view
etched in digital time
it also doesnt need the permission of a 3rd party, it doesnt need to be held by a third party
it is trustless and permissionless
those are its main points