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About Lenelby

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  1. And you probably will at £100k, £200k or whatever as it is still an emerging technology and has a long way to go before it becomes an asset that most people will own or feel comfortable owning. But the only time I sold all my Bitcoin was at the end of 2017 when it felt from forums that everyone was getting too greedy. And you only have to read this forum to see that people were saying Bitcoin was over back in 2014 and here we are at 100x the price and number of addresses. It might really be the end this time around, but I think not. Yes we will have a shakeout. Ponzi tokens and NFTs will die. Exchanges will fail but those that do will be taken over by the big boys; Morgan Stanley, Goldman Sachs and in much the same way that John Lewis bought buy.com after the dot com bust. This was to much criticism at the time as internet shopping was thought to be a fad that was over. Amazon shares lost something like 85% from their peak. And government will regulate in their interests of course. This is because Bitcoin and digital currencies (including central bank digital currencies) are here to stay and will revolutionise money like the internet has changed our society in ways that were difficult to imagine 25 years ago. Also regarding the other point very little Bitcoin is held on exchanges. One of the main benefits of owing it is self custody and the elimination of counter party risk. But that also comes with other risks. Pros and cons.
  2. It’s posts like this that I find a good buy signal. Someone who doesn’t know what they are talking about wanting buy or sell due to FOMO is a great indicator of tops/bottoms.
  3. Thanks. That’s interesting. Going back to the OP I wanted to make clear that if you buy a 5 year fixed coupon bond the rate is based on the price you paid for it. You won’t get any more interest if the rate rises. It just means that if you cash the bond before maturity you will receive less for it. The bulk of my DB pension is in the PPF which unfortunately limits rises to inflation up to a maximum of 2.5%. I also suspect that many annuities taken in the last few years have not been inflation protected at all. Problems ahead me thinks. ☹️
  4. I was referring in general to the 60:40 portfolio and the advice that people move into a greater allocation of bonds the closer they are to retirement as this has been traditionally regarded as offering some protection to down side risks as bonds have tended to rise if equities fall. Both are now falling in tandem which will lead to a smaller fund/lump sum on retirement. I understand and agree that both DB schemes and annuities are able to buy income more cheaply once someone has retired (good news) but I don’t know enough to comment on how this is affecting annuities right now with the inflation outlook rising so quickly. It appears to me that the real rate of return (i.e. after inflation) is falling.
  5. If you fixed interest bonds, and most with pensions do, this is not good news at all. It means your bond values are dropping like a stone. You don’t receive any more interest on it. If you are looking to buy bond another matter of course, so long as yields don’t continue to rise. Bond yields and prices move inversely.
  6. I think whatever you do will be more risky but just having cash in GBP might guarantee a return of your money but a sharp devaluation or inflation could also reduce your capital. My brother has a Euro account with a French back (as he owns a property in France) which would come with protection but this is only for euros and he needs to pay exchange fees. And no doubt tricky (or impossible) to set up if you’re a U.K. resident. But I don’t think you need to be a ‘billionaire’ to invest in funds that track currency via a fund platform. Which funds is another matter. Bonds - generally I think all fiat currencies are in trouble. I have none in my pension. Don’t really subscribe to the 60/40 portfolio. Those days are gone.
  7. If you are talking small amounts then these challenger banks like Revolut allow you to exchange and hold foreign currencies within separate accounts with very good exchange rates. I use it for hedging holiday spending etc. For larger amounts then you can buy low cost funds (ETFs) within an ISA that track currency movements. You can also buy various bond funds but these carry higher risk the longer the bond duration. I have a little in TLTs (USD long bond 20 yrs+) and these have been a disaster with rising inflation. As you are holding a publicly quoted fund rather than cash then you don’t need to worry about FSCS limits as with cash savings balances.
  8. My dad went to school in Yorkshire during the war. They had a pool for swimming lessons but they barely had enough coal to heat the classrooms!
  9. Can’t they just leave her if she’s stuck; like good night see you tomorrow luv. It’s a bit hard to take this one seriously given that she is a boomer herself. Mind you it is rich ones she wants to kill off so my guess is she isn’t exactly flush with cash. Having kids is supposed to be one of the worst things you can do for the environment so she seems to have not thought that through either.
  10. An EV doesn’t suit me right now. I drive 2-3K a year. Mostly weekends and some longer road trips in the summer. I’ve nowhere to charge it. It wouldn’t be cost effective to own one both financially or environmentally. I expect I’d give up owning a car before buying an EV based on my current needs. Some of the EVs are like tanks. Must weigh 2 tons and use an enormous about of energy to build and run. Even renewable sources rely on fossil fuels. These are not a solution to the climate crisis but seem to be sold as if they are.
  11. Listened to the Feb 9th interview with Jack Mallers today on the What Bitcoin Did podcast. I’m not a fan of Peter McCormack but this is really worth a listen. Jack describes his presentation with the IMF and the feedback he got afterwards. https://www.whatbitcoindid.com/jack-mallers Yet not a mention of this in the MSM. All we ever hear is recycled FUD.
  12. Interesting. Maybe the U.K. using the cheaper AZ vaccine that everyone else rubbished along with different boosters wasn’t so bad after all. Not to mention acquired immunity predominately in younger people. We also appear to be seeing higher numbers of heart attacks resulting from the rna vaccines.
  13. Replace the word cryptocurrency with pounds/dollars/euros and decentralised with centralised and you pretty much describe the existing financial system. You take your chance in both so I think best to have a foot in each.
  14. I know people who are testing positive but asymptomatic. Vaccines/prior infection (and maybe T cell response rather than antibody) is doing the job at keeping people out of hospital and preventing serious illness. We shouldn’t be over reacting here.
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