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House Price Crash Forum

dannyf

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Everything posted by dannyf

  1. What makes you think people who only want exposure to the gold price and don’t want want physical gold, so use synthetic etfs and so on, would be trying to convert to physical? They have products that can’t be redeemed for physical, just financial products. How would that drive up physical gold demand?
  2. Go ahead, change those properties of bitcoin. Change the limited supply and let’s split the extra. I get your point but saying they are not similar in any way is just plain wrong. Anyway, back to gold
  3. Durability, portability, divisibility, uniformity, limited supply, and acceptability. Yea, not similar *in any way* (I hold both, but am obviously underwhelmed with the performance of the gold through a financial crisis and covid)
  4. You’re right that the energy cost to mine is the cost to secure the chain. If fewer people mine because it’s less profitable, then the remaining miners get more of the proceeds and may get pushed back into profit (but with a reduction in security). Nobody really knows what will happen when this is only from fees, but it’ll be a slow transition as the block reward continues to halve. If bitcoin is successful and widely adopted, then value would have to be way above what it is now and so the fees on chain would hopefully still support good security. Lightning offers the possibility to scale in a second layer with much smaller fees, but each channel still needs to be opened on the main chain and have appropriate fees. I’m no expert but I guess there will be some trade off between immediate persistence on chain for a higher fee vs smaller lightning fees, and this will change as (if) bitcoin becomes more widely used and the on chain fees increase with demand
  5. The reward afterwards will only be the transaction fees
  6. Please go further back to when he was telling everyone xrp/ripple was the future… 😂
  7. The same happens with all assets. Gold also bounces off round numbers. It’s human nature
  8. How can you end up with huge debts if bitcoin is certainly going to zero? I don't understand your logic. Unless you aren't as sure as you make out. Certainly not sure enough to put any money on the line.
  9. Seems it’s time to leave this thread to the anti crypto folk for a while 😂
  10. Check any stock with zero yield and you’ll have your answer. “Intrinsic value” is subjective
  11. This is repeated often, but please explain how a blockchain is useful and how it operates without a valuable currency being part of its design. Blockchain is useless without a large network securing it, and nobody is going to go to the expense of that without some reward He’s the biggest troll on this thread. Always coming up with nonsense and never replies when challenged
  12. And you refuse to short it despite your certainty. Show us your trades
  13. It was basically founded in the principle of making people rich by encouraging people not to sell. It had/has nothing else going for it except that principle. Other things go up in price because more people want them because they have some other utility value, but not hex. Having said that, I could have got my airdrop of hex from bitcoin when it was created. Wish I’d listened to markyh and done it, but thought it was clearly a ponzi and everyone else would realise too. So take my opinion with a pinch of salt
  14. Let’s not forget the <$1k in 18 months We shall see
  15. Some stocks are. Seen Netflix lately? The market cap of crypto is far less than stocks so it’s going to be more volatile. I’m sure you can find some people going crazy over some stocks. Did you miss the whole GME wallstreetbets drama? If the comments or enthusiasm of a few people can scare you away from doing your own due diligence on not only a new investment, but a new asset class, a new form of money, then best of luck to you
  16. Luckily didn’t have to sell any 😁
  17. 1. Can overpay without penalty. Not sure if there’s a limit or not though 😬 2. Can remortgage. I don’t think there’s a penalty, but I won’t be doing it since I paid extra upfront fees to reduce my rate, and it’ll be about 6 years before that works in my favour. They call it paying for points 3. Portable to another house? I don’t think so, but could be wrong 4. Single salary 5. Neighbours seem to be around the same age but none bought recently. Most are from South America (a lot of Venezuelans). I’m under no illusions. I think these prices are completely unsustainable. Not much in the way of tech here but there are more and more remote jobs (which is what I have)
  18. Yea I am from the U.K. and transferred over with my company about 8 years ago on an L1 visa with the plan to stay for 2-3 years and see what it’s like. I have permanent residency now Modern houses are built well. They all have shutters or impact windows. The major concern with hurricanes is flooding so thankfully not in a flood zone. We did leave when Irma was heading our way but I don’t think we’d leave next time. Home insurance should cover repairs if needed but it’s likely to be things like blown down fences or a leaking roof Not sure exactly how it works but I think it’s based on property value and is expensive. But you can get a (small) discount on your primary residence Thanks. There’s definitely too many trumpys. But less so in a big city than out in the sticks You’re right. I expected more of this kind of reply. But we were faced with rents rising, and rates going up. And with rates being fixed for the life of the mortgage it made more sense than it would in the U.K. I wouldn’t risk it in the U.K. with a short fix
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