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House Price Crash Forum


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Posts posted by doahh

  1. I just tried to invest into my HL SIPP with XBT Provider BTC-EUR.


    Following recent changes to the FCA guidance for investments that reference crypto-assets, we have taken the decision to remove this security from further purchases on the platform. For more information please refer to the below article recently published on the FCA website.


    The FCA considers these products to be ill-suited for retail consumers due to the harm they pose. These products cannot be reliably valued by retail consumers because of the: 

    • inherent nature of the underlying assets, which means they have no reliable basis for valuation
    • prevalence of market abuse and financial crime in the secondary market (eg cyber theft)
    • extreme volatility in cryptoasset price movements
    • inadequate understanding of cryptoassets by retail consumers
    • lack of legitimate investment need for retail consumers to invest in these products  

    These features mean retail consumers might suffer harm from sudden and unexpected losses if they invest in these products. 

    Now I'm wondering if I'll be able to get my cash back out of the SIPP or I'll be forced to invest into something I didn't want.

  2. Venlafaxine is a pain to come off. The head zaps are like an electric shock in the brain. I was on it for a couple of months and it took about that length of time for the zaps to finish. There is a good book by Dr. Irving Kirch who is the Professor of Clinical Psychology at Hull and a drug researcher for 20 years. He became well known for his work on antidepressants detailed in  "The Emperors New Drugs". He concludes they are placebos with the usual corporate ******** that you'd expect from big pharma: manipulation, lies, burying of inconvenient data etc. I switched to something more 'green' which works for me but also comes with it's own challenges but at least it's under my control and not theirs.

    The Scotland Social Security system will be taking control of PIP at the start of next year. Medics should be giving a direct pass through to benefits for obvious cases, a face-to-face for the less obvious cases. If you go down that route then it should be a lot better than the one used in England for UC.

    As for giving up work, I am happiest that I did. Other people were always the reason for my issues with society. I don't fit in. I also take any of their ******** as labels that the medical profession apply to me. They do not define me. They say I have Asperger's, I say I'm normal and they are all shallow - it's just my opinion against theirs, I don't need to accept their definition of life.

    In terms of investing for the future, Bitcoin is the one that is giving me the most hope. If you have money, you don't need to work. Work does not set you free, it steals your labour and passes it up the chain to the wealthy - our current system of work destroys the soul. I have much more to do than I have time for even without work, a lot of that being thinking and meditating about the nature of life.

  3. Oh, that video of the ranting debt ridden scumbag maniac is just utterly hilarious. I don't think I can laugh lould enough to satiate my pleasure! This is the best news in well over a decade. Hell is now open to landlords for business, maybe they can finally go there and take it up the a55 with a large pinapple rather than giving it.


  4. 6 hours ago, longgone said:

    anyone still collecting swifts ??  i see they now want a photo to even claim this BS

    Yep, I'm wondering if they are moving towards getting onto exchanges and now need the KYC stuff in place. I don't see giving them a photo is a problem, most peoples photos are all over the internet. Swifts may end up as worthless crap but for the sake of pressing a button once a week it's not a lot of effort.

  5. 38 minutes ago, jiltedjen said:

    whats the easiest way to buy bitcoin these days? 

    Would love an easy simple UK website without having to send transfers via banks abroad. 

    I've found Bittylicious to be OK. They give a UK bank account to transfer funds to. I've used them a few times and transactions have always gone through quickly and without problems. The minimum limit is (0.00010006 BTC). I'm not sure how their fees compare to other companies though.

  6. I know the house builders bonuses attributed to HTB have been discussed before but I hadn't seen the figures so courtesy of CommonSpace here are some interesting numbers for Scotland:


    Persimmon received over £77m from the Scottish Government’s help-to-buy scheme from 2013-17 .


    a 2,100% increase for the CEO Jeff Fairburn


    The accounts show Fairburn’s enormous bonus took his annual pay from £2.1m to £47m, while the two other executives saw their pay rise from £1.3m to £20.3m and £1.4m to £36.7m respectively. This is not likely to be the maximum the three executives will receive, with 60% of their bonus scheme attached to meeting certain conditions which are likely to be met. This would take the three executives’ bonuses over the £200m mark.


    Persimmon is the biggest benefactor of the Scottish Government’s help-to-buy scheme, receiving over £77m from 2013-2017 from the subsidy. Just three big housebuilders received the overwhelming majority of the benefit from the help-to-buy scheme: Persimmon, Taylor Wimpey and BDW.


    Common Weal head of policy, said: " It can’t be value for money, in the middle of a housing crisis with a serious homelessness problem, that this is what the Scottish Government is spending its austerity-hit budget on. Help-to-buy is a flawed scheme that only pushes up house prices for most – it should be scrapped and the money re-invested into public housing."

    Pretty grim reading unless your the CEO.

  7. I received a marketing email for new distrubted exchange called Oxygen that seems to be about to do an ICO of some sort. The platform also plans to allow people to lend crypto for a fee to those that want to borrow it, so that they can go short. Interestingly the CEO has the following bio:

    Alex Grebnev, CFA

    Over 16 years of investment banking (Managing Director at Merrill Lynch, Goldman Sachs) and fintech experience; MA Mathematics, CQF

    As far as I know it hasn't been possible to short this market so far, unless by shady deals with the exchanges behind the scenes who have lots of crypto sitting in their wallets doing not-very-much. Could affect the price going forwards, maybe this will become a feature of many exchanges.

    From Business Insider:


    Oxygen will collaborate with cryptocurrency exchange Changelly, targeting its 1.6 million private and institutional users.


    Shorting is a widespread tactic among hedge funds and FX traders, so enabling it within the cryptocurrency space could draw more mainstream investors to the asset class, as this would allow them to transact with the asset in a way they're familiar with and adept at.


  8. On 03/03/2018 at 5:17 PM, Mikhail Liebenstein said:


    We'll here is another freebie coin to add to the collection,    ActionCoin    1000 free action coins for minimal sign up effort. Probably worth little as it mainly seems to be associated with discounts right now, but apparently will have a BlockChain.

    Personally I'll still prefer SwiftDemand  as it is building lots of momentum and I think the idea of a 100 coins per day Universal Basic Income gives it traction..


    You may like Manna as well. It's another basic income coin that is already trading on one exchange. Current value is ~$0.0174 with a distribution of 15 this week and 30 the week before.

  9. 1 hour ago, Cosmic Apple said:

    My only issue with selling things like coins on ebay would be what happens if the buyer opens a case and says they are fake? eBay more often than not going to find in their favor and tell the buyer to destroy the 'fake' item rather than return it. I've been on both ends of eBays system and can think of several ways to game it :(


    Last time I checked the price on EBay was quite a bit above spot, I assumed that this was to cover that risk. Not much use if your selling low volume of course.

  10. 59 minutes ago, jiltedjen said:

    Mined about £200ish (in current BTC and Monero prices) since the start of December, couple more months and the equipment will be paid off. And that's not full time, but when im sat at my computer.

    I tried mining off the machine I sit at but found that the mining programs would always grab 100% of the CPU as well as the GPU making the machine unusable. Is there a way to prevent mining programs grabbing all of the CPU? I tried a few miners including Clayton's and some software provided by the pools but my machine had the same problem on all of them. The config files didn't hint at any limiters, maybe I missed something.

  11. That's an interesting chart evetsm. However, isn't the picture further complicated by the changing fiat price of BTC? At the December peak with an average transaction size of $140k that would be 7 BTC at $20K each. Today at a transaction size of $77K that is still 7 BTC at $11K each. The November price peak is about $200K and the fiat value of BTC was ~$8K so that is about 25 BTC being sold per transaction. This would seem to confuse the picture a bit but I don't have a better chart so ... maybe a chart of BTC per transaction over time would give a better picture as to whether institutional money was entering the scene?

  12. An article on DowBit got me thinking about how people track the BitCoin hard forks.


    Bitcoin is being forked every month now. Besides the more established ones like Bitcoin Cash and Bitcoin Gold, we witnessed the appearance of Bitcoin Silver, Bitcoin Diamond and Lightning Bitcoin. On December 12, another fork happened – Super Bitcoin. The fork’s slogan is ‘Make Bitcoin great again!’.

    I assume that an exchange that support the fork will automatically show the balance, but what about people who have off-exchange wallets? Do you, and if so, how do you keep track of all of the forks?

  13. Universal credit in new crisis as some claimants are denied mortgages:


    The mortgage problem came to light after Julie Broughton* contacted Money to say that she was worried she could lose the mortgage that had been agreed in principle by NatWest. She said the bank had slashed the amount it was willing to lend her from £103,000 to just £59,000 because she wasn’t able to provide it with a written letter from the Department for Work and Pensions detailing the breakdown of her payment.


    An “award letter” from the DWP can be a useful way of officially proving entitlement to a benefit, but it is understood that these are no longer being posted out. Some individuals applying for a home loan are submitting a print-out or screen-grab from their universal credit online account – as Broughton did – but this is being rejected as unacceptable.

    I expect that this will be sorted out at some point but it is an interesting unintended consequence.

  14. 1 hour ago, adamLancs said:

    Yeah, I think I misunderstood a little bit. That seems like it makes more sense. It is not clear yet, how it will be reliable to accept $5 for a coffee for example, without closing the payment channel.

    My understanding from reading the article that Eddie gave is that there is no need to close the channel, in fact it looks like keeping it open is encouraged. I see it this way:

    1. I make a transaction a day with a retailer and so I set up a channel. I pay the bitcoin transaction fee to create the channel. This is worth it for me because I make so many transactions;
    2. Each day the transactions build up in the channel;
    3. For each transaction a smart contract is created;
    4. Full nodes can read into the smart contracts and therefore verify that a payment has been made, the channel does not need to be closed.

    For other people who also transact with the retailer but maybe only once per year, it is not worth setting up their own channel as they need to pay a blockchain Tx fee so:

    1. They join my channel and create their own smart contracts with the retailer;
    2. I charge them a small fee for the use of my channel.

    Closing the channel will sum the transaction and write back to the blockchain.

  15. 1 hour ago, Venger said:

    Ah; the IO mortgage victim cause is here again, as I knew it would be with only mention of IO mortgages, on the party thread. 

    It's only one of the most important decisions in life, in a market where millions of people want to be homeowners.

    In this case I think the knowledge is a two stage process:

    1. Find out there is such a thing as an IO mortgage;
    2. Understand what it is.

    To go from one to two presents the possibility of a block. I stated that I can understand why some people would fall at the hurdle. I was not excusing their stupidity in not learning to understand the biggest purchase of their life. It is clearly idiocy to make an important decision without understanding the implications. That does not mean that I can not understand why they fall at the hurdle. In no way did I state that I have sympathy for them, that seems to be something you inferred.


    How can you be mis sold an IO mortgage exactly ..by very definition  being called ''INTEREST ONLY '' tells you exactly what it is  and what you pay

    I think I see the problem. This is a two-stage statement:

    1. How can it be mis-sold;
    2. Calling it interest only describes what it is in exact terms.

    It can not be mis-sold, but the term is not immediately comprehensible by the stupid. IO is still a technical term, albeit a very simple one, but still one that not everyone understands. I commented on the second part.

  16. 11 minutes ago, Funn3r said:

     I definitely did not know the difference between a repayment and an IO mortgage. Why would I? 

    I'm afraid to admit that I am in agreement. When people are young they have a complex world to unravel and learn about, the education system teaches facts but not really how to go about finding and learning new information. I had to learn what an IO mortgage was, I certainly was not taught in school. When I was looking at purchasing a property for the first time I only saw that IO was cheaper and my initial thought was "that's the one for me". It is an extra step to understand why it is cheaper. How far down a path do you go to get an understanding of a topic? Many people are desperate for a place of their own and so don't ask further questions, especially if the answer may prevent them getting what they want.

  17. 1 hour ago, Mooping said:

    Apologies if this is a stupid question.  I have in the past purchased some physical silver.  I am intending to purchase some physical gold too.  Let's pretend the day comes when the prices of these will have multiplied and I want to bag some of the gains.  How would you go about selling and get a decent price?

    I've not got much to add to DB comment but the price on EBay is typically quite a bit higher that the retailers will pay, even the retailers charge more through EBay. I assume this is to cover an additional element of risk via a chargeback. If you are happy with any additional risk then you can sell through there.

    To sell to a retailer you either need to go there in person or post your bullion. If posting then Royal Mail Special Delivery will only cover £2k through insurance. The retailer I spoke to agreed that I should split the coins into ~£2K lots for posting to them. There is a potential issue here if the price rises significantly above £2K which could force you to visit in person.

    I haven't done either yet as I have never sold.

  18. This video by Danielle Park (see: from ~ 11:33 minutes in) states that come January 2018 new mortgages will be stress tested at 2% over the current rate. She thinks this will cause a drop in purchasing power of about 20% at a time when many retirees need to sell to fund their retirement.

    I have an acquaintance in Toronto who thinks that I am a no-house loser. She has bought 5 houses over the last 4 years to get a rental income funded by her job as as an estate realtor, hence my interest.

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