Macroeconomics, the economy, inflation etc. *likely to be very dull*
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China Evergrande, the troubled property giant, made a debt payment on at least two of its bonds on Wednesday, a company bondholder said, a sign that it may yet again manage to head off default.https://www.nytimes.com/2021/11/10/business/evergrande-bond-deadline.html
Evergrande owes investors interest payments on three bonds, totaling nearly $150 million, with the grace periods for those payments set to expire on Wednesday. Missing them would trigger a default that could ripple through the Chinese economy: With some $300 billion in debt outstanding, the company’s inability to pay its debt would potentially hurt banks, property developers, and even home buyers in the country.0 -
If Elon Musk was running Evergreen there would be no chance of it going bust because the abodes would be people pleasing spectacular.0
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Is this a good time to top up our crypto hedge?0
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I am tempted to flag you for trolling.surrey_commuter said:Is this a good time to top up our crypto hedge?
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Semi serious- I think that if this spooks the markets then crypto and gold will go uprick_chasey said:
I am tempted to flag you for trolling.surrey_commuter said:Is this a good time to top up our crypto hedge?
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Not today, it seems0
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Good reminder. I really need to do something about my bitcoin holdings. I received them for free, but they are becoming increasingly valuable, and I should probably move them somewhere more accessible.surrey_commuter said:Is this a good time to top up our crypto hedge?
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Bitcoin is extemely liquid - same day buy/sell and transfer in/out of wallet.
Doesn't get much more accessible than that - much better than a S&S ISA0 -
Conflicting news about whether Chinese property giant Evergrande had defaulted on its overdue loan payments emerged just before Bitcoin’s recent price crash.
Evergrande Group is China’s second-largest property developer and is in debt for roughly $300 billion. There are fears that its collapse could spark a wider financial crisis.
Two minutes after Evergrande’s payment was due, the Deutsche Markt Screening Agentur (DMSA) issued an announcement on Nov. 10 at 4 p.m. UTC stating that it was preparing bankruptcy proceedings against Evergrande.
Two hours later at about 6 .p.m. UTC, Bitcoin began it’s hours-long pullback to $62,800.
Media outlet Morning Brew reported about 45 minutes later that Evergrande had missed a payment on its outstanding debt which was due on Wednesday at 4 p.m. UTC and defaulted. Another 45 minutes passed before Bloomberg issued a story saying that it hadn’t.
Prices stabilized around $64,500 several hours after the initial drop. This was around the same time Bloomberg reporter Allison McNeely’s tweeted “contrary to what you may have heard ~on the internet~ Evergrande did not default today.”
https://cointelegraph.com/news/did-conflicting-reports-about-evergrande-defaulting-cause-bitcoin-to-tank0 -
They're not very liquid when they are stored in a brain wallet you need to spend time remembering. Also, security paranoia, doesn't help with the liquidity.shirley_basso said:Bitcoin is extemely liquid - same day buy/sell and transfer in/out of wallet.
Doesn't get much more accessible than that - much better than a S&S ISA0 -
Coinbase / Binance - dead easyTheBigBean said:
They're not very liquid when they are stored in a brain wallet you need to spend time remembering. Also, security paranoia, doesn't help with the liquidity.shirley_basso said:Bitcoin is extemely liquid - same day buy/sell and transfer in/out of wallet.
Doesn't get much more accessible than that - much better than a S&S ISA0 -
For small spending amounts, sure. I wouldn't use something like that for savings though. I think a hardware wallet is the best option.shirley_basso said:
Coinbase / Binance - dead easyTheBigBean said:
They're not very liquid when they are stored in a brain wallet you need to spend time remembering. Also, security paranoia, doesn't help with the liquidity.shirley_basso said:Bitcoin is extemely liquid - same day buy/sell and transfer in/out of wallet.
Doesn't get much more accessible than that - much better than a S&S ISA
In any case, my point was specific to me. Mine is in a brain wallet that I need to remember.
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Doesn’t Binance have restrictions on it from the banks?shirley_basso said:
Coinbase / Binance - dead easyTheBigBean said:
They're not very liquid when they are stored in a brain wallet you need to spend time remembering. Also, security paranoia, doesn't help with the liquidity.shirley_basso said:Bitcoin is extemely liquid - same day buy/sell and transfer in/out of wallet.
Doesn't get much more accessible than that - much better than a S&S ISA0 -
I thought the FCA banned binance?surrey_commuter said:
Doesn’t Binance have restrictions on it from the banks?shirley_basso said:
Coinbase / Binance - dead easyTheBigBean said:
They're not very liquid when they are stored in a brain wallet you need to spend time remembering. Also, security paranoia, doesn't help with the liquidity.shirley_basso said:Bitcoin is extemely liquid - same day buy/sell and transfer in/out of wallet.
Doesn't get much more accessible than that - much better than a S&S ISA
All the same, playing with crypto is playing with fire.
It’s gambling with added assistance to money laundering for criminals and a gigantic carbon footprint.1 -
I'd quite like to see the relative power requirements of HPC for say the biggest bitcoin mining operation and a big engineering OEM, say Rolls Royce plc.rick_chasey said:
I thought the FCA banned binance?surrey_commuter said:
Doesn’t Binance have restrictions on it from the banks?shirley_basso said:
Coinbase / Binance - dead easyTheBigBean said:
They're not very liquid when they are stored in a brain wallet you need to spend time remembering. Also, security paranoia, doesn't help with the liquidity.shirley_basso said:Bitcoin is extemely liquid - same day buy/sell and transfer in/out of wallet.
Doesn't get much more accessible than that - much better than a S&S ISA
All the same, playing with crypto is playing with fire.
It’s gambling with added assistance to money laundering for criminals and a gigantic carbon footprint.
Mainly because I also think a calculation showing how much Co2 you "spend" running an HPC in order to end up with a design that safely saves x Co2 per mile flown would be interesting.0 -
Binance fell foul of KYC leading to terrorism and money laundering concerns.rick_chasey said:
I thought the FCA banned binance?surrey_commuter said:
Doesn’t Binance have restrictions on it from the banks?shirley_basso said:
Coinbase / Binance - dead easyTheBigBean said:
They're not very liquid when they are stored in a brain wallet you need to spend time remembering. Also, security paranoia, doesn't help with the liquidity.shirley_basso said:Bitcoin is extemely liquid - same day buy/sell and transfer in/out of wallet.
Doesn't get much more accessible than that - much better than a S&S ISA
All the same, playing with crypto is playing with fire.
It’s gambling with added assistance to money laundering for criminals and a gigantic carbon footprint.
I think all crypto currencies are essentially worthless junk however as part of a wider investment strategy I have invested 1% of my portfolio (😀) in various coins. If all goes well it could be worth 10% of my portfolio, if all goes badly I lose 1%.
Anyway signed up to Coinbase as they are reckoned to be most reputable and whilst KYC and security is impressive I was shocked that you could pay with Klarna and that the pre-populated buy options were as low as £10.
There is an argument that it makes more sense than buying lottery tickets but I suspect that if it goes pop there will be people unable to bear the losses0 -
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The only problem with buying bitcoin is that it's too liquid (for me).surrey_commuter said:
Binance fell foul of KYC leading to terrorism and money laundering concerns.rick_chasey said:
I thought the FCA banned binance?surrey_commuter said:
Doesn’t Binance have restrictions on it from the banks?shirley_basso said:
Coinbase / Binance - dead easyTheBigBean said:
They're not very liquid when they are stored in a brain wallet you need to spend time remembering. Also, security paranoia, doesn't help with the liquidity.shirley_basso said:Bitcoin is extemely liquid - same day buy/sell and transfer in/out of wallet.
Doesn't get much more accessible than that - much better than a S&S ISA
All the same, playing with crypto is playing with fire.
It’s gambling with added assistance to money laundering for criminals and a gigantic carbon footprint.
I think all crypto currencies are essentially worthless junk however as part of a wider investment strategy I have invested 1% of my portfolio (😀) in various coins. If all goes well it could be worth 10% of my portfolio, if all goes badly I lose 1%.
Anyway signed up to Coinbase as they are reckoned to be most reputable and whilst KYC and security is impressive I was shocked that you could pay with Klarna and that the pre-populated buy options were as low as £10.
There is an argument that it makes more sense than buying lottery tickets but I suspect that if it goes pop there will be people unable to bear the losses
The best thing about S&S Isa is you can't just sell when the price dips
I started buying bitcoin when the price was around £8k to £10k but I didn't have the nerve to ride the troughs, so I kept selling. Ended up turning £1k into £2k when I should have made £5k if I had just held and carried on putting in £100 per month over the past 2 - 3 years - which was my intended strategy.0 -
you mentioned S&S ISA being illiquid but surely you can convert to cash and leave in the acct... yes I get your point.shirley_basso said:
The only problem with buying bitcoin is that it's too liquid (for me).surrey_commuter said:
Binance fell foul of KYC leading to terrorism and money laundering concerns.rick_chasey said:
I thought the FCA banned binance?surrey_commuter said:
Doesn’t Binance have restrictions on it from the banks?shirley_basso said:
Coinbase / Binance - dead easyTheBigBean said:
They're not very liquid when they are stored in a brain wallet you need to spend time remembering. Also, security paranoia, doesn't help with the liquidity.shirley_basso said:Bitcoin is extemely liquid - same day buy/sell and transfer in/out of wallet.
Doesn't get much more accessible than that - much better than a S&S ISA
All the same, playing with crypto is playing with fire.
It’s gambling with added assistance to money laundering for criminals and a gigantic carbon footprint.
I think all crypto currencies are essentially worthless junk however as part of a wider investment strategy I have invested 1% of my portfolio (😀) in various coins. If all goes well it could be worth 10% of my portfolio, if all goes badly I lose 1%.
Anyway signed up to Coinbase as they are reckoned to be most reputable and whilst KYC and security is impressive I was shocked that you could pay with Klarna and that the pre-populated buy options were as low as £10.
There is an argument that it makes more sense than buying lottery tickets but I suspect that if it goes pop there will be people unable to bear the losses
The best thing about S&S Isa is you can't just sell when the price dips
I started buying bitcoin when the price was around £8k to £10k but I didn't have the nerve to ride the troughs, so I kept selling. Ended up turning £1k into £2k when I should have made £5k if I had just held and carried on putting in £100 per month over the past 2 - 3 years - which was my intended strategy.
Listening to Terry Smith convinced me that time in the market is more important than timing the market0 -
Even if you convert to cash - it still takes 4 days, so it's not instant, so you can't 'cash out' in the strictest sense.
I totally agree about time in market - which is why the liquidity of the Crypto platforms (And e-Toro) are no good for me. Unfortunately I cannot hold my nerve - and beleive me, I have tried.
Currently have £15 in LIT coin, currently trading at £8.50. THAT I can just about bear to watch go up and down like a rollercoaster.0 -
Another problem for me is just how many different cryptos I now have based on all the bitcoin forks.0
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So was reading that a lot of the labour restrictions are related to COVID stuff rather than a hot market, so to speak.
Roughly a million workers have either retired early (lockdown helped them re-evaluate their life?) or are on post-covid long-term sick leave0 -
Lockdown was certainly an eye opener for how much can be saved by cutting out work expenses, fine dining and foreign holidays. Retirement is very affordable in those circumstances.rick_chasey said:So was reading that a lot of the labour restrictions are related to COVID stuff rather than a hot market, so to speak.
Roughly a million workers have either retired early (lockdown helped them re-evaluate their life?) or are on post-covid long-term sick leave
The above may be fact, or fiction, I may be serious, I may be jesting.
I am not sure. You have no chance.Veronese68 wrote:PB is the most sensible person on here.0 -
focuszing723 said:
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This is something of a rant by Ryan Petersen who is the CEO of Flexport. It is an interesting point.
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would be a brave management team that built resilience around a once in a hundred year eventTheBigBean said:This is something of a rant by Ryan Petersen who is the CEO of Flexport. It is an interesting point.
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Especially as having had one, we must not be due another for 100 years?surrey_commuter said:
would be a brave management team that built resilience around a once in a hundred year eventTheBigBean said:This is something of a rant by Ryan Petersen who is the CEO of Flexport. It is an interesting point.
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People buy insurance despite properties burning down less than once every 100 years. It really depends on what the cost is of building in some resilience.surrey_commuter said:
would be a brave management team that built resilience around a once in a hundred year eventTheBigBean said:This is something of a rant by Ryan Petersen who is the CEO of Flexport. It is an interesting point.
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Maybe now but since the previous one was over 100 years ago it would have been prudent 3 years ago. 😉surrey_commuter said:
would be a brave management team that built resilience around a once in a hundred year eventTheBigBean said:This is something of a rant by Ryan Petersen who is the CEO of Flexport. It is an interesting point.
Which reminds me, the San Andreas is long overdue. That'll fill the headlines.The above may be fact, or fiction, I may be serious, I may be jesting.
I am not sure. You have no chance.Veronese68 wrote:PB is the most sensible person on here.0
