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jiltedjen

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  1. Everyone should own gold and bitcoin in part of a varied portfolio, including cash, shares long dated bonds/gilts and property if you have a pension which is usually bonds/shares, then your your pension savings should be mostly around cash, gold, bitcoin and other assets (bitcoin being no more than 5% of your portfolio) as it happens I’m overweight in bitcoin due to its massive growth, but it does mean I can instead grow my portfolio elsewhere keep away from worthless alt-coins, silver is also a waste of time bitcoin is high risk, but it is sensible to have some exposure, that’s prudent and sensible, pragmatic even those who slate bitcoin, and don’t own bitcoin, their opinion is basically worthless, I love gold, but to constantly pump gold shows a real lack of understanding of gold itself to dismiss bitcoin. im sure this thread will be full of doubters for 20 years to come, as bitcoin continues going through multiple bubbles and crashes but maintains its quick growth rate on average during that time don’t be lazy, don’t risk zero exposure, your children won’t thank you.
  2. i dont really get all the anger towards the payment. My best guess is there is a lot of angry people on the doll who dont feel its fair that the worthwhile in society are getting bailed out? i mean they were going to print plenty of money either way, and rack up debt either way, so might as well support the economy in the short term. i tend to think its more the unemployed feeling annoyed, than the cash rich (who are hoping to pick up cheap property). I do wonder how many people are on HPC not because they ever have any hope of buying a house (unemployed) but instead as a form of jealousy? i came to HPC as an incredibly hard working person, angry that all the hard work would not mean a suitable house for me to live in without extreme sacrifice, but now years later having learnt a lot from HPC, and made plenty of money directly due to HPC, i did manage to buy a house. it was clear since 2013 that the government would always bail out the feckless. so hop on board that gravy train (but be hedged). The furlough scheme in hindsight was obvious. never pays to be workshy.
  3. there is enough people who believe in it as a store of value for the price to be £7,730 right now SEVEN THOUSAND, SEVEN HUNDRED AND THIRTY POUNDS. its the buyers who decide value, not the skeptics. the world needs a working gold more than ever now, bitcoin is gold 2.0, its open ledger protects it against technology over taking it, instead using technology to secure it. bitcoins use-case only becomes stronger each day, especially with all the money printing at the moment, and free cash hand-outs. best to be in hard assets, houses, bitcoin, gold, land etc etc.
  4. Yeah I have used the Linux boot up truck to hack XP, no idea of anything newer though. personally I wouldn’t bother. messing around for a few hours for no reward, or a very slim reward is not worth it. Unless you can find other signs of the previous owner being either drug savvy, dark web savvy, economics savvy, or generally clued up. good luck though! might find it’s not bitcoin and an altcoin and thus worthless
  5. fix the computer, if its old enough like XP then its easy to get past the login screen (see youtube). then maybe you will find the login somewhere there, or find the .dat file is open, and use a program to scan for keys i wouldn't lose too much sleep over it though, chances are extremely slim that its loaded with BTC
  6. I wonder how plenty of companies will react. i know several people who were made redundant straight away as business hit a brick wall when this started, then were taken on again to be furloughed so they at least got something. those people will probably be out of a job now. Also it’s clear that all the furlough scheme will continue until October, it’s going to keep being tapered, so for many companies they need to really get things in place now, start to get the ball rolling on redundancies we could even have a perfect storm brewing with a second wave also. It’s going to take months for business to gradually get the momentum back now, it’s all creating a feedback loop, less work, less pay, less demand = less work, less pay less demand etc etc on and on all it needs is one of the big banks to poo itself to death, and suddenly we have another economic locking up situation again. yes printed money can help, but some countries have been extremely reckless, like the UK Gov backing first time buyer loans, that kind of thing. hard to make a call on how it will pan out, the economy did have some momentum before all this, there is unfulfilled demand out there as producers can’t produce enough with reduced production etc, but that positive is also being met with job losses along the chain, which leads to less demand either way it’s a big negative, moving forward, the big question is now negative? will this be a much needed correction in the stock markets allowing it to reach an even higher peak come 2029? Or will this be the overdue recession we have been waiting 12 years for?
  7. When you look at the market dominance chart over time bitcoin has lost a lot of ground to alt-coin leading up to the previous bubble/peak, since then it’s regained a lot of lost ground. its looks like Bitcoin had been through that required baptism of fire, and moved to a new phase, where altcoins have finally died, and bitcoin is and always will be the only crypto in town. No longer is bitcoins dominance questioned, no longer is its dominance trending down, those days are over now. what’s interesting about that, is a lot of funds were wasted by newcomers on rubbish in the last bubble, a lot of money flowed right into scam altcoins, and was quickly sold out again, yes some of that ended up in bitcoin, but plenty just ended up as fiat by the scam leaders, pump and dump style. when we finally reach the next bubble, it won’t be against a background of a long term lost of dominance by bitcoin, but instead against a bitcoin which has been tested and come out on top, with extremely high market dominance, AND altcoins have been very clearly been shown to be useless/worthless prior to the last bubble people could tell themselves that bitcoin was long term losing dominance, and something else will take the lead, (people with little understanding of the full scope of bitcoin) but on the next bubble those sentiments won’t be there, the scenario has changed. therefore the panic buyers won’t be flushing money down the drain, they won’t be piling into altcoins, suddenly almost the full mass of investors will be directing funds to Bitcoin. BUT these panic buyers are jumpy, and will sell out as soon as the next bubble bursts. I think based upon that the next bubble will be a lot higher, and a lot sharper than previous bubbles. and just like many many altcoins buyers in the last bubble just kept grimly holding bags (or worthless crap back then), this time they will find themselves grimly holding bitcoin which they bought at the peak and are now sitting with 80% losses. but with bitcoin being what it is, several years later those grim bag holders will find they back in black and up considerably, that’s generally how it goes. we have seen a huge important change in the history of bitcoin. it’s been proven, it’s been tested. it came out a lot stronger. these kind of changes and growth require years, if not centuries to play out, it needs to pass these important gates, not just Altcoins threats being forever killed off, but it needs to pass through a large important countries debt default and currency destruction etc, bitcoin will always be there, it just needs the world to keep churning through its own economic cycles, it just needs history to repeat (it always does). bitcoin is filling a vacuum, it’s filling a value store need. it just needs to be. the heavy lifting will be done outside bitcoin, with money printing, wars, state collapse, stock market crashes, etc etc pretty much everyone on this thread will be too young to remember the days before time began in the 70’s was its inflation etc, will be too young to have been through dramatic changes in the economic landscape, will of lived through the recession but found everything was relatively stable, but drastic change does come, and it can happen very quickly when it does. ruinous events do happen, they can be very rare, but they do happen. bitcoin is not something I would bet against. and now it’s not just the blind believers who through the last bubble kept singing the same tune, even though at a few points it might of been touch and go that another coin took the lead, now it’s pretty obvious that bitcoin is forever long even to the worst skeptic. now it’s not the altcoiners who call bitcoiners delusional, it’s now the other way around
  8. need to hold for at least 18 months. Bitcoin has never been an investment for someone jumpy. Additionally its not too hard to buy when the price is depressed instead of buying short term peaks, which can help a lot with not feeling jumpy. Problem is the same emotions that make people finally pull the trigger on a purchase 'oh no i better hurry up before its too late', is also the same emotion 'oh no im losing loads i need to bail out' i think a lot of people are pre-programmed to lose money. investing needs to be as cold and mechanical as it can possibly be, especially with bitcoin. the recent falls are nothing compared to what has been seen since 2011, its those who calmly sat pretty who came out ok. i bought low, and i wont buy peaks, its the long depressed price periods which are obvious, and that's when to buy. But in saying that, you can still buy the highs is you are fully prepared to wait, a good bitcoin investor, who bough the recent highs, would keep buying moving forward to bring their average price down.
  9. Welcome! well done on buying the dip, that was fantastic timing. sorry to hear about the split, never easy! in regards to waiting in the current situation, I wouldn’t wait too long. as each day your funds will lose noticeable value if in Sterling. read permanent portfolio if your going to wait a while (say 15 years) to buy, to maintain your value. personally if you can afford a nice enough house for yourself, with small or no mortgage at least you have that whatever happens. I’m not saying buy at any cost. but if anything crisis is a good time to buy, sellers will be more receptive (even if it doesn’t seem that way). also freshly single might be a good time to get a fixer upper to keep yourself busy!
  10. low interest rates high house prices in the scenario mentioned it only applies to a very select few, who live off interest etc, and those people have not existed since interest rates hit emergency lows, where they will remain forever, or even go lower. with the debt load, the only way to go is down, and we are pretty much at zero, so they will bring it as close as humanly possible to go to zero, if that means interest rates are -1% then that still drives down the cost of borrowing down say 1% (from say 6% interest to 5% interest) on the whole it is stimulus, they will deliberately trash the pound to stimulate spending, i mean they are handing out thousands of pounds to individuals for nothing right this second (even if for a good reason for once). but as we already know, it's not just low interest rates, its everything else which comes along with it, and the stuff we have not even thought about yet. the best stimulus will goes to those most likely to spend it, see credit card misselling or 'PPI', that was a perfect example, give the debt heads a whack of money, as they will just go out and spend it again. they will target the parts of the economy where their vested interests are, which will be land and property. they might even pay a huge whack of mortgages off for those who borrowed, and give £30k deposits on a student loan type basis to every individual FTB, so a couple suddenly finds £60k to spunk this will drive the housing market upwards, and trash the pound, which will remove a load of the debt. its going to be a race to the bottom, as those who destroy their currency the fastest gets the most trade, but as everyone does it, you need to be very quick and very drastic. UK PLC will be trashed, but this will bring a golden era of manufacturing back. no-one should have much fiat lying around, should be in assets, companies (shares), land, gold etc, anyone with a large amount of cash lying around is already a rabbit stood stunned in headlights, too afraid to put it anywhere else, the things with inflation is that its constant, it is high (the real inflation rate not stated) and its not linear, it can suddenly spike upwards. i mean imagine house price dropped 50% overnight, that would be the UK economy finished, and the pound would be trashed anyway, yes home-owners would lose some value, but not all that much in £ terms. and if you live in a £ world, where all you spend is in £ and all you earn is in £ thats not the end of the world.
  11. negative rates don't generally mean the bank pays you to have debt, it just further reduces the cost of the debt. and hammers savers even more. this is incorrect.
  12. i always feel that people are missing the point when they use this argument. i would much rather be in work and feel a little bit more secure, than not be here, and not be missed
  13. 10% temporary pay cut due to come in, (we will only agree if a time-scale is set- we hope) but with a 10% reduction in working hours, so pro-rata not a pay cut, this is everyone in the company (fridays off) 30% staff are currently furloughed i have never been made redundant, had hours cut, been furloughed or anything like that in 15-20 years of working. So a 10% temporary cut is not too bad, but still a bit of a wake up call! BUT please bear in mind that the loss of sales is not always due to lack of demand on our customers end, its mostly due to the rest of our customers supply chain cant produce the parts for the final product due to COVID-19, so demand is not down say 30% its more like say a 15% reduction, but it can have an out-sized effect on the rest of the world.
  14. Being a bit picky, but there have been period of history where no amount of fiat was able to be exchanged for any gold. So in effect gold was worth infinity fiat, or gold was worth a set amounts of goods, which could not be defined in fiat, as said fiat had become worthless. so yes the only price that matters is buying and selling price of any asset, but thats not always the case. Again its about the flow of value, not really price. same COULD apply to bitcoin at some point. and in one scenario, bitcoin could actually speed up fiat becoming worthless but that's unlikely.
  15. I have gold for this purpose, not as liquid as cash but liquid enough. plus it has this feature where times when your most likely to need it, like a big crisis, it’s becomes worth a lot more, just when you want it to be worth a lot more. for me it’s for a sense of security, so I can carry on making purchases and living life etc, knowing that I will be fine for 12-18 months if I had to be. keeping cash is great in the very short term, but just keeping big stores of it is not great for emergencies, as even over a 12 month period it can lost a fair amount of value. however it’s very useful for buying up distressed assets, especially if you had your eye on a car, or whatever, now is the time to grab a bargain. having huge cash reserves (to buy houses in outright in cash etc) only really works for the very wealthy who already have a lot of houses and other wealth, as the gains they can make in buying distressed assets far outweighs the loss of value in cash in the short to medium term for the average joe, having anything more than 3 months cash reserves is just incredibly wasteful, as the value is lost pretty quickly.
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