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House Price Crash Forum


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Posts posted by Police

  1. My point is that the contract is unenforceable if the entity claiming a loss cannot prove a loss has occurred- so the issue is not caveat emptor because it is the bank not me who has problem.

    What the bank would need to provide is evidence that the money they claim to have lent to me existed in the first place- but this they cannot do because in reality it did not exist-it was created from thin air by simply typing numbers into my account.

    So how can the bank claim I owe them money when they never possessed that money in the first place?

    Sorry this is rubbish. The bank writing a credit in your account in your account is valid consideration because it is a promise to pay. If you never draw against the account then the bank cannot say they have suffered a loss. However, if you do - then they do because they have to draw down their own current account for you benefit.

  2. A link sent to Tim Aker

    Thank you for the replies agree with the sentiment.

    Stop interfering in the markets.

    Punative tax for amateur BTL, 2nd homers, empty properties

    A tenancy (favoured) agreement may be concluded for a ‘limited’ or ‘unlimited’ period.

    Stop HS2 funding diverted to new local infrastructure including transport links & housing

    Huge increase of local cooperative self build rent & ownership

    Nimbys' children banned from owning or renting property of their own.(too far :D )

    Introduce LVT to pay for the removal of business rates & council tax

    Advise Patrick O'flynn Daily Express columnist & UKIP candidate of the damaging headlines 'house prices soar' crap.

    Doesn't your first point contradict some of the others?


  3. I'm similarly puzzled. UKIP's 2013 manifesto was very clear,

    the party promises to “fight proposals like unwanted housing developments, unwanted out-of-town supermarkets and inappropriate energy schemes like incinerators, wind and solar farms that will ruin the character of our communities”.

    UKIP are the NIMBY party, pure and simple. So how on earth have they become the darlings of this forum?

    Well the maths seems pretty simple to me.

    Don't let in a few million immigrants and don't build a few hundred thousand houses - or the opposite. I know which is more preferable especially since they can be voted out ex post facto.

  4. The increasing difficulty in mining means that mining each new BTC costs about the current market price of a BTC - it is self adjusting as higher BTC prices encourage more miners, forcing the difficulty up. It will be interesting to see what happens as the unmined BTC taper out, perhaps decades from now.

    It is also designed to accomodate Moore's law.

    The question is, what capitalisation/equity ratio will produce 'stable' prices? I presume the velocity of BTC comes into the equation. Are there any precedents?

    From my understanding a vast quantity of the existing bitcoins were mined very cheaply - and are still held by the people who paid very little for them. From that I'd conclude the cap/equity ratio is quite low. I do think central to the development of bitcoin is if it can capture genuine economic activity - and the associated velocity. I can't think of any precedents like crypto-currency - it seems revolutionary to me and what ever happens to BTC - I don't think the technology is going to wither and die. There's too many applications it can be used for and a lot of fat that it can cut out.

  5. Something is concerning me about the volatility of BTC prices.

    People say that prices will settle down once BTC is established. However, over half of the coins that will ever exist have already been mined. So, in terms of BTC capitalisation, it is already well 'established'.

    I think one thing you might want to consider beyond "market capitalisation" is equity.

    Consider the market cap of BTC vs the equity in BTC: if we a market cap of $10B - but only $1B (say) was ever paid out to acquire those BTC - then all the BTC holders in aggregate have $9B of equity. This will have a naturally adverse effect on the price as people will want to sell to realize gains.

    I think the market can only be classed as mature and be less volatile once the market cap vs equity is further apart. Currently, it is going through the "seigniorage" stage. IMO. If it ever got through this stage without affecting participation & uptake - I would suggest it has legs.

  6. for you, but not for the masses...if you make a payment then a tax paying trader either...keeps the BTC and risks it losing or gaining tax payable currency, or he converts it straight away..no business can take the stress of daily movements we have seen in this thing since February.

    A you don't think having a much larger participation rate - with many more bids and asks will make it more stable? I.e. like I said - a liquid market.

  7. However, all bubbles are a form of ponzi, where the latest in finance the earlier in...at some time, bubbles, and ponzies, break.

    You seem to be assuming that everyone joining the system is expecting to make money.

    Not a possibility that the system matures to a point where people joining are only wanting their activities to be facilitated - i.e. payment transmission? Not a possibility that an equilibrium can be reached between people joining and people exiting?

  8. Utterly pointless, just use paypal

    No thanks - I don't like their terms and conditions.

    BTW The reason I find the multi-signatory feature an interesting one is that it is what would be required for any business to use crypto-currencies itself. No one person within an organization could abscond with the company's funds. Crypto-currencies would only become widely used if larger businesses start to use it. IMO.

  9. I'm starting to feel that the price of BTC or any coin is pretty irrelevant if you consider it merely as a payment conduit - and transact in and out of fiat: all that matters I is that there is a liquid market. There's certainly enough money transmission going on in the world which crypto-currency would provide massive cost savings to.

    Another discovery for me today is the m-of-n multi-signatory feature. I find this particular encouraging.


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