Those Bitcoin mining hubs were nuts. How does the ‘random’ allocation to the block chain work? Is it a set amount or percentage of transaction or what?!?
Exactly. When city fund managers start buying then I will, until then I'll leave it to you wide boys who obviously know better.
Couldn't agree more. Still not much more than a giant ponzi/pimping exercise to my eyes. There would seem to be something in the background that might be useful in the longer term but for now a case of 'suckers beware'. 'Wolves of Wall St' guy got it spot on.
CL Wealth Warning - When there is perceived "easy money" to be made no one worries about the fact that these vehicles are unregulated - until it all goes wrong that is.
CL Wealth Warning - When there is perceived "easy money" to be made no one worries about the fact that these vehicles are unregulated - until it all goes wrong that is.
CL Wealth Warning - When there is perceived "easy money" to be made no one worries about the fact that these vehicles are unregulated - until it all goes wrong that is.
If you back the right horses then you’ll make a lot of money. If you back the duds you’ll lose it. Like any form of gambling/high risk investment, don’t put in more than you can lose and treat it as a bit of fun.
CL Wealth Warning - When there is perceived "easy money" to be made no one worries about the fact that these vehicles are unregulated - until it all goes wrong that is.
What makes you so sure it will all go wrong?
It certainly went wrong for the girl featured in the Panorama programme, to the tune of £50k.
CL Wealth Warning - When there is perceived "easy money" to be made no one worries about the fact that these vehicles are unregulated - until it all goes wrong that is.
Well, indeed. But while it's true that the whole shebang is seemingly unregulated, should it be, even under existing legislation? Or are the Government, PRA and FCA all asleep at the wheel - should they be handing down more specific warnings?
It's a bit technical but here's what I mean. First, as we all know, in the UK you need authorisation to undertake certain regulated functions. The existing legislation says both accepting deposits and arranging for the safeguarding and administration of assets belonging to another, or offering or agreeing to do so are both regulated activities for which you need authorisation.
Second, the definition of a deposit (we're not talking a security deposit you hand over to DFS for a sofa, that's a pre-payment) is Rights under any contract under which a sum of money (whether or not denominated in a currency) [my emphasis] is paid on terms under which it will be repaid, with or without interest or a premium, and either on demand or at a time or in circumstances agreed by or on behalf of the person making the payment and the person receiving it.
The legislation in part has even been updated to cope with e-money, which is defined aselectronically (including magnetically) stored monetary value. And in the UK you need to be an authorised electronic money institution to play around with other people's e-money.
(It's a bit more complex than that but that will do for these purposes.) So, how is what is happening not caught by the relevant UK legislation: all these people "looking after your virtual dosh in virtual wallets?
So, just on that basis alone, how is all this stuff not illegal? Well, in short, I suspect (but don't know) that it is. And that is why most (all?) of the businesses that facilitate the acquisition of crypto currencies do so from outside the EU.
So, if it does all go pear-shaped (as it will) there will be no redress. In the same way that there would be no redress if you decided to hand over your personal pension to some person in Russia you didn't know and didn't have any means of contacting and your hard-earned subsequently vanished. Or if you paid out for on off-plan apartment in Kabul.
In short, it would be unreasonable to expect the UK taxpayer to bail you out for being so foolish and it is pleasingly reassuring to know that they won't.
Some of us have seen it all before, whether it's a Ponzi scheme like KF Concept, run by Kevin Foster; pyramid schemes; ostrich farming; or land banks, there's a never-ending stream of people out there quite happy to take money from the gullible.
CL Wealth Warning - When there is perceived "easy money" to be made no one worries about the fact that these vehicles are unregulated - until it all goes wrong that is.
Well, indeed. But while it's true that the whole shebang is seemingly unregulated, should it be, even under existing legislation? Or are the Government, PRA and FCA all asleep at the wheel - should they be handing down more specific warnings?
It's a bit technical but here's what I mean. First, as we all know, in the UK you need authorisation to undertake certain regulated functions. The existing legislation says both accepting deposits and arranging for the safeguarding and administration of assets belonging to another, or offering or agreeing to do so are both regulated activities for which you need authorisation.
Second, the definition of a deposit (we're not talking a security deposit you hand over to DFS for a sofa, that's a pre-payment) is Rights under any contract under which a sum of money (whether or not denominated in a currency) [my emphasis] is paid on terms under which it will be repaid, with or without interest or a premium, and either on demand or at a time or in circumstances agreed by or on behalf of the person making the payment and the person receiving it.
The legislation in part has even been updated to cope with e-money, which is defined aselectronically (including magnetically) stored monetary value. And in the UK you need to be an authorised electronic money institution to play around with other people's e-money.
(It's a bit more complex than that but that will do for these purposes.) So, how is what is happening not caught by the relevant UK legislation: all these people "looking after your virtual dosh in virtual wallets?
So, just on that basis alone, how is all this stuff not illegal? Well, in short, I suspect (but don't know) that it is. And that is why most (all?) of the businesses that facilitate the acquisition of crypto currencies do so from outside the EU.
So, if it does all go pear-shaped (as it will) there will be no redress. In the same way that there would be no redress if you decided to hand over your personal pension to some person in Russia you didn't know and didn't have any means of contacting and your hard-earned subsequently vanished. Or if you paid out for on off-plan apartment in Kabul.
In short, it would be unreasonable to expect the UK taxpayer to bail you out for being so foolish and it is pleasingly reassuring to know that they won't.
Some of us have seen it all before, whether it's a Ponzi scheme like KF Concept, run by Kevin Foster; pyramid schemes; ostrich farming; or land banks, there's a never-ending stream of people out there quite happy to take money from the gullible.
Coinbase has a registered company in the U.K. theyre the most popular fiat to crypto portal.
But hey, don’t let me impede in your uneducated, unsourced daily mail style ramblings this fine Thursday morning.
CL Wealth Warning - When there is perceived "easy money" to be made no one worries about the fact that these vehicles are unregulated - until it all goes wrong that is.
If you back the right horses then you’ll make a lot of money. If you back the duds you’ll lose it. Like any form of gambling/high risk investment, don’t put in more than you can lose and treat it as a bit of fun.
But it isn't sold as "gambling" by some companies - it is sold as guaranteed profit.
CL Wealth Warning - When there is perceived "easy money" to be made no one worries about the fact that these vehicles are unregulated - until it all goes wrong that is.
If you back the right horses then you’ll make a lot of money. If you back the duds you’ll lose it. Like any form of gambling/high risk investment, don’t put in more than you can lose and treat it as a bit of fun.
But it isn't sold as "gambling" by some companies - it is sold as guaranteed profit.
CL Wealth Warning - When there is perceived "easy money" to be made no one worries about the fact that these vehicles are unregulated - until it all goes wrong that is.
If you back the right horses then you’ll make a lot of money. If you back the duds you’ll lose it. Like any form of gambling/high risk investment, don’t put in more than you can lose and treat it as a bit of fun.
But it isn't sold as "gambling" by some companies - it is sold as guaranteed profit.
By who?
If you watched the Panorama programme you would have seen the seminar in which the salesmen were saying exactly that.
CL Wealth Warning - When there is perceived "easy money" to be made no one worries about the fact that these vehicles are unregulated - until it all goes wrong that is.
If you back the right horses then you’ll make a lot of money. If you back the duds you’ll lose it. Like any form of gambling/high risk investment, don’t put in more than you can lose and treat it as a bit of fun.
But it isn't sold as "gambling" by some companies - it is sold as guaranteed profit.
By who?
If you watched the Panorama programme you would have seen the seminar in which the salesmen were saying exactly that.
CL Wealth Warning - When there is perceived "easy money" to be made no one worries about the fact that these vehicles are unregulated - until it all goes wrong that is.
If you back the right horses then you’ll make a lot of money. If you back the duds you’ll lose it. Like any form of gambling/high risk investment, don’t put in more than you can lose and treat it as a bit of fun.
But it isn't sold as "gambling" by some companies - it is sold as guaranteed profit.
By who?
If you watched the Panorama programme you would have seen the seminar in which the salesmen were saying exactly that.
Traditionally trustworthy sources then..
But that's the very point we have regulation - a bonded Financial Advisor has to provide wealth warnings and all sorts of documentation to prove that this has been done. Any failing on that part means that the consumer has protection via the FCA.
That is why we have regulated products. But hey let's get rid of all protection and just let the best fraudsters make more and more. And blame the man in the street for being so gullible.
CL Wealth Warning - When there is perceived "easy money" to be made no one worries about the fact that these vehicles are unregulated - until it all goes wrong that is.
If you back the right horses then you’ll make a lot of money. If you back the duds you’ll lose it. Like any form of gambling/high risk investment, don’t put in more than you can lose and treat it as a bit of fun.
But it isn't sold as "gambling" by some companies - it is sold as guaranteed profit.
By who?
If you watched the Panorama programme you would have seen the seminar in which the salesmen were saying exactly that.
Traditionally trustworthy sources then..
But that's the very point we have regulation - a bonded Financial Advisor has to provide wealth warnings and all sorts of documentation to prove that this has been done. Any failing on that part means that the consumer has protection via the FCA.
That is why we have regulated products. But hey let's get rid of all protection and just let the best fraudsters make more and more. And blame the man in the street for being so gullible.
Who’s saying we shouldn’t have regulation? This is a brand new industry that didn’t even exist in any form 10 years ago. The financial services have literally hundreds of years behind them and even then their regulations are filled with loopholes that they joyously exploit.
CL Wealth Warning - When there is perceived "easy money" to be made no one worries about the fact that these vehicles are unregulated - until it all goes wrong that is.
What makes you so sure it will all go wrong?
It certainly went wrong for the girl featured in the Panorama programme, to the tune of £50k.
No offense, but she was an idiot who got sucked in by a pyramid scheme... Do your research
CL Wealth Warning - When there is perceived "easy money" to be made no one worries about the fact that these vehicles are unregulated - until it all goes wrong that is.
What makes you so sure it will all go wrong?
It certainly went wrong for the girl featured in the Panorama programme, to the tune of £50k.
No offense, but she was an idiot who got sucked in by a pyramid scheme... Do your research
I agree about the need to be wary but unfortunately many people aren't that savvy and need protecting from themselves. As cafcfan says above there have been countless 'get rich quick' schemes that blind potential investors with all kinds of bullshit and technical garbage. It's easy to say "don't put in more than you can afford to lose" but you are then adding to the stampede that sucks in more of the gullible. Then it all gets nasty with people throwing insults as those who suggest caution. I have seen lots of intelligent people who should know better get suckered by the promise of easy money.
CL Wealth Warning - When there is perceived "easy money" to be made no one worries about the fact that these vehicles are unregulated - until it all goes wrong that is.
What makes you so sure it will all go wrong?
It certainly went wrong for the girl featured in the Panorama programme, to the tune of £50k.
No offense, but she was an idiot who got sucked in by a pyramid scheme... Do your research
I agree about the need to be wary but unfortunately many people aren't that savvy and need protecting from themselves. As cafcfan says above there have been countless 'get rich quick' schemes that blind potential investors with all kinds of bullshit and technical garbage. It's easy to say "don't put in more than you can afford to lose" but you are then adding to the stampede that sucks in more of the gullible. Then it all gets nasty with people throwing insults as those who suggest caution. I have seen lots of intelligent people who should know better get suckered by the promise of easy money.
Yes but regulation alone doesn't protect such people. It's down to education and a cultural societal shift. She really did not deserve much sympathy, much as Panorama tried to engender it. Anyone who has paid attention to this thread understands that if/when we buy in to this stuff, we are not protected by regulation. So then, caveat emptor.
Lets not forget that as a nation in the late 80's we led the way in Europe in encouraging everyone to buy into financial products we didn't understand. Endowment mortgages, anyone? And if you got your money back after being missold one, don't forget it wasn't the politicians that got it back, it was the Consumers Association, the product of a more sensible time. That's what i mean by "cultural shift"
CL Wealth Warning - When there is perceived "easy money" to be made no one worries about the fact that these vehicles are unregulated - until it all goes wrong that is.
What makes you so sure it will all go wrong?
It certainly went wrong for the girl featured in the Panorama programme, to the tune of £50k.
No offense, but she was an idiot who got sucked in by a pyramid scheme... Do your research
I agree about the need to be wary but unfortunately many people aren't that savvy and need protecting from themselves. As cafcfan says above there have been countless 'get rich quick' schemes that blind potential investors with all kinds of bullshit and technical garbage. It's easy to say "don't put in more than you can afford to lose" but you are then adding to the stampede that sucks in more of the gullible. Then it all gets nasty with people throwing insults as those who suggest caution. I have seen lots of intelligent people who should know better get suckered by the promise of easy money.
Yes but regulation alone doesn't protect such people. It's down to education and a cultural societal shift. She really did not deserve much sympathy, much as Panorama tried to engender it. Anyone who has paid attention to this thread understands that if/when we buy in to this stuff, we are not protected by regulation. So then, caveat emptor.
Lets not forget that as a nation in the late 80's we led the way in Europe in encouraging everyone to buy into financial products we didn't understand. Endowment mortgages, anyone? And if you got your money back after being missold one, don't forget it wasn't the politicians that got it back, it was the Consumers Association, the product of a more sensible time. That's what i mean by "cultural shift"
Yup exactly. Can’t have the young millennials getting the same opportunities as you can we?
CL Wealth Warning - When there is perceived "easy money" to be made no one worries about the fact that these vehicles are unregulated - until it all goes wrong that is.
What makes you so sure it will all go wrong?
It certainly went wrong for the girl featured in the Panorama programme, to the tune of £50k.
No offense, but she was an idiot who got sucked in by a pyramid scheme... Do your research
Crypto currency has many of the characteristics of a pyramid scheme with bells and whistles. Those who control and initiate the offering sell the tokens on for reselling down the line. Some are reserved to support an exchange which in turn supports a market to drive the price and the growth of the pyramid downwards. As the price increases, the initiators and the exchanges, who hold large reserves of the token can sell them into the market and can maintain the price by pretending to be buyers who actually buy from themselves.
The crypto market is so small relative to the size of individual holdings that moving the price by buying and selling in volume is very easy.
These are facts and why the absence of regulation leaves the public open to manipulation, which isn't even fraud. But it's only fun, that happens to make profits for drug dealers and assist illegal arms sales to North Korea and terrorists.
As there is limit to the number of buyers the market and the price will eventually stall and those left holding the baby will be the financiers of the winners.
It's gambling where the horses don't have a price and the bookmaker decides when the race ends, who wins and beforehand tells punters the form of the horses based on diddly squat.
The whole thing works on a rock solid sure fire winner, greed. I must just check my Coinbase wallet.
CL Wealth Warning - When there is perceived "easy money" to be made no one worries about the fact that these vehicles are unregulated - until it all goes wrong that is.
What makes you so sure it will all go wrong?
It certainly went wrong for the girl featured in the Panorama programme, to the tune of £50k.
No offense, but she was an idiot who got sucked in by a pyramid scheme... Do your research
Crypto currency has many of the characteristics of a pyramid scheme with bells and whistles. Those who control and initiate the offering sell the tokens on for reselling down the line. Some are reserved to support an exchange which in turn supports a market to drive the price and the growth of the pyramid downwards. As the price increases, the initiators and the exchanges, who hold large reserves of the token can sell them into the market and can maintain the price by pretending to be buyers who actually buy from themselves.
The crypto market is so small relative to the size of individual holdings that moving the price by buying and selling in volume is very easy.
These are facts and why the absence of regulation leaves the public open to manipulation, which isn't even fraud. But it's only fun, that happens to make profits for drug dealers and assist illegal arms sales to North Korea and terrorists.
As there is limit to the number of buyers the market and the price will eventually stall and those left holding the baby will be the financiers of the winners.
It's gambling where the horses don't have a price and the bookmaker decides when the race ends, who wins and beforehand tells punters the form of the horses based on diddly squat.
The whole thing works on a rock solid sure fire winner, greed. I must just check my Coinbase wallet.
fucking LOL.
Good trolling this thread @Dippenhall you actually had me convinced you were for real until that comment.
Fuckin terrorists man, fucking hilarious I actually laughed out loud, bravo.
Charlton life’s resident deep cover journo @Dippenhall has found that the Belgian government has recently met with the funders of North Korea and of terrorists organisations. Hope you’ve got your daily mail friends on the line, surely this is a massive news story?!
CL Wealth Warning - When there is perceived "easy money" to be made no one worries about the fact that these vehicles are unregulated - until it all goes wrong that is.
What makes you so sure it will all go wrong?
It certainly went wrong for the girl featured in the Panorama programme, to the tune of £50k.
No offense, but she was an idiot who got sucked in by a pyramid scheme... Do your research
Crypto currency has many of the characteristics of a pyramid scheme with bells and whistles. Those who control and initiate the offering sell the tokens on for reselling down the line. Some are reserved to support an exchange which in turn supports a market to drive the price and the growth of the pyramid downwards. As the price increases, the initiators and the exchanges, who hold large reserves of the token can sell them into the market and can maintain the price by pretending to be buyers who actually buy from themselves.
The crypto market is so small relative to the size of individual holdings that moving the price by buying and selling in volume is very easy.
These are facts and why the absence of regulation leaves the public open to manipulation, which isn't even fraud. But it's only fun, that happens to make profits for drug dealers and assist illegal arms sales to North Korea and terrorists.
As there is limit to the number of buyers the market and the price will eventually stall and those left holding the baby will be the financiers of the winners.
It's gambling where the horses don't have a price and the bookmaker decides when the race ends, who wins and beforehand tells punters the form of the horses based on diddly squat.
The whole thing works on a rock solid sure fire winner, greed. I must just check my Coinbase wallet.
fucking LOL.
Good trolling this thread @Dippenhall you actually had me convinced you were for real until that comment.
Fuckin terrorists man, fucking hilarious I actually laughed out loud, bravo.
Oh dear! Somebody has got a touch of 'Gold Fever' I think.
CL Wealth Warning - When there is perceived "easy money" to be made no one worries about the fact that these vehicles are unregulated - until it all goes wrong that is.
What makes you so sure it will all go wrong?
It certainly went wrong for the girl featured in the Panorama programme, to the tune of £50k.
No offense, but she was an idiot who got sucked in by a pyramid scheme... Do your research
Crypto currency has many of the characteristics of a pyramid scheme with bells and whistles. Those who control and initiate the offering sell the tokens on for reselling down the line. Some are reserved to support an exchange which in turn supports a market to drive the price and the growth of the pyramid downwards. As the price increases, the initiators and the exchanges, who hold large reserves of the token can sell them into the market and can maintain the price by pretending to be buyers who actually buy from themselves.
The crypto market is so small relative to the size of individual holdings that moving the price by buying and selling in volume is very easy.
These are facts and why the absence of regulation leaves the public open to manipulation, which isn't even fraud. But it's only fun, that happens to make profits for drug dealers and assist illegal arms sales to North Korea and terrorists.
As there is limit to the number of buyers the market and the price will eventually stall and those left holding the baby will be the financiers of the winners.
It's gambling where the horses don't have a price and the bookmaker decides when the race ends, who wins and beforehand tells punters the form of the horses based on diddly squat.
The whole thing works on a rock solid sure fire winner, greed. I must just check my Coinbase wallet.
fucking LOL.
Good trolling this thread @Dippenhall you actually had me convinced you were for real until that comment.
Fuckin terrorists man, fucking hilarious I actually laughed out loud, bravo.
Oh dear! Somebody has got a touch of 'Gold Fever' I think.
Not really, I’ve repeatedly stated that I half expect to lose everything ive put into crypto (not a lot). Even at the worst of the crash last month I was still up by about 2-300%The technology has incredible potential in the same way the internet had and still does.
What will be the PayPal, amazon or google of the crypto world remains to be seen, but it’s an incredibly exciting technology that we’re really at the birth at.
But to imagine that it’s all a North Korean or Islamic state conspiracy... that is utterly laughable.
CL Wealth Warning - When there is perceived "easy money" to be made no one worries about the fact that these vehicles are unregulated - until it all goes wrong that is.
What makes you so sure it will all go wrong?
It certainly went wrong for the girl featured in the Panorama programme, to the tune of £50k.
No offense, but she was an idiot who got sucked in by a pyramid scheme... Do your research
I agree about the need to be wary but unfortunately many people aren't that savvy and need protecting from themselves. As cafcfan says above there have been countless 'get rich quick' schemes that blind potential investors with all kinds of bullshit and technical garbage. It's easy to say "don't put in more than you can afford to lose" but you are then adding to the stampede that sucks in more of the gullible. Then it all gets nasty with people throwing insults as those who suggest caution. I have seen lots of intelligent people who should know better get suckered by the promise of easy money.
Yes but regulation alone doesn't protect such people. It's down to education and a cultural societal shift. She really did not deserve much sympathy, much as Panorama tried to engender it. Anyone who has paid attention to this thread understands that if/when we buy in to this stuff, we are not protected by regulation. So then, caveat emptor.
Lets not forget that as a nation in the late 80's we led the way in Europe in encouraging everyone to buy into financial products we didn't understand. Endowment mortgages, anyone? And if you got your money back after being missold one, don't forget it wasn't the politicians that got it back, it was the Consumers Association, the product of a more sensible time. That's what i mean by "cultural shift"
I hear what you say but there is a load of shit out there being given the 'crypto' tag. The Panorama edition highlighted this and how lots of people are going to get suckered. And already on here we are seeing those suggesting caution getting shouted down and ridiculed.
CL Wealth Warning - When there is perceived "easy money" to be made no one worries about the fact that these vehicles are unregulated - until it all goes wrong that is.
What makes you so sure it will all go wrong?
It certainly went wrong for the girl featured in the Panorama programme, to the tune of £50k.
No offense, but she was an idiot who got sucked in by a pyramid scheme... Do your research
I agree about the need to be wary but unfortunately many people aren't that savvy and need protecting from themselves. As cafcfan says above there have been countless 'get rich quick' schemes that blind potential investors with all kinds of bullshit and technical garbage. It's easy to say "don't put in more than you can afford to lose" but you are then adding to the stampede that sucks in more of the gullible. Then it all gets nasty with people throwing insults as those who suggest caution. I have seen lots of intelligent people who should know better get suckered by the promise of easy money.
Yes but regulation alone doesn't protect such people. It's down to education and a cultural societal shift. She really did not deserve much sympathy, much as Panorama tried to engender it. Anyone who has paid attention to this thread understands that if/when we buy in to this stuff, we are not protected by regulation. So then, caveat emptor.
Lets not forget that as a nation in the late 80's we led the way in Europe in encouraging everyone to buy into financial products we didn't understand. Endowment mortgages, anyone? And if you got your money back after being missold one, don't forget it wasn't the politicians that got it back, it was the Consumers Association, the product of a more sensible time. That's what i mean by "cultural shift"
I hear what you say but there is a load of shit out there being given the 'crypto' tag. The Panorama edition highlighted this and how lots of people are going to get suckered. And already on here we are seeing those suggesting caution getting shouted down and ridiculed.
i think absolutely everyone is saying do it with caution, but to say it’s a North Korean conspiracy or terrorist conspiracy deserve some to be ridiculed.
The thread is also 27 pages long. It’s mindblowing ignorance to go onto it and pedal crap that’s repeatedly been disproven and explained earlier in the thread. I haven’t even watched the panorama programme but from people’s responses in this it seems like their understanding of blockchain/iot technology is ridiculously lacking.
Or are you suggesting incompetence cannot be mocked?
Comments
Someone mentioned this earlier... Have had a punt
Great explainer video on Vechain and Vechain Thor
How do you think I heard about Vechain and chainlink?
It's a bit technical but here's what I mean. First, as we all know, in the UK you need authorisation to undertake certain regulated functions. The existing legislation says both accepting deposits and arranging for the safeguarding and administration of assets belonging to another, or offering or agreeing to do so are both regulated activities for which you need authorisation.
Second, the definition of a deposit (we're not talking a security deposit you hand over to DFS for a sofa, that's a pre-payment) is Rights under any contract under which a sum of money (whether or not denominated in a currency) [my emphasis] is paid on terms under which it will be repaid, with or without interest or a premium, and either on demand or at a time or in circumstances agreed by or on behalf of the person making the payment and the person receiving it.
The legislation in part has even been updated to cope with e-money, which is defined aselectronically (including magnetically) stored monetary value. And in the UK you need to be an authorised electronic money institution to play around with other people's e-money.
(It's a bit more complex than that but that will do for these purposes.) So, how is what is happening not caught by the relevant UK legislation: all these people "looking after your virtual dosh in virtual wallets?
So, just on that basis alone, how is all this stuff not illegal? Well, in short, I suspect (but don't know) that it is. And that is why most (all?) of the businesses that facilitate the acquisition of crypto currencies do so from outside the EU.
So, if it does all go pear-shaped (as it will) there will be no redress. In the same way that there would be no redress if you decided to hand over your personal pension to some person in Russia you didn't know and didn't have any means of contacting and your hard-earned subsequently vanished. Or if you paid out for on off-plan apartment in Kabul.
In short, it would be unreasonable to expect the UK taxpayer to bail you out for being so foolish and it is pleasingly reassuring to know that they won't.
Some of us have seen it all before, whether it's a Ponzi scheme like KF Concept, run by Kevin Foster; pyramid schemes; ostrich farming; or land banks, there's a never-ending stream of people out there quite happy to take money from the gullible.
But hey, don’t let me impede in your uneducated, unsourced daily mail style ramblings this fine Thursday morning.
That is why we have regulated products. But hey let's get rid of all protection and just let the best fraudsters make more and more. And blame the man in the street for being so gullible.
Lets not forget that as a nation in the late 80's we led the way in Europe in encouraging everyone to buy into financial products we didn't understand. Endowment mortgages, anyone? And if you got your money back after being missold one, don't forget it wasn't the politicians that got it back, it was the Consumers Association, the product of a more sensible time. That's what i mean by "cultural shift"
The crypto market is so small relative to the size of individual holdings that moving the price by buying and selling in volume is very easy.
These are facts and why the absence of regulation leaves the public open to manipulation, which isn't even fraud. But it's only fun, that happens to make profits for drug dealers and assist illegal arms sales to North Korea and terrorists.
As there is limit to the number of buyers the market and the price will eventually stall and those left holding the baby will be the financiers of the winners.
It's gambling where the horses don't have a price and the bookmaker decides when the race ends, who wins and beforehand tells punters the form of the horses based on diddly squat.
The whole thing works on a rock solid sure fire winner, greed. I must just check my Coinbase wallet.
Good trolling this thread @Dippenhall you actually had me convinced you were for real until that comment.
Fuckin terrorists man, fucking hilarious I actually laughed out loud, bravo.
https://www.forbes.com/sites/laurashin/2018/02/13/forbes-fintech-50-2018-the-future-of-blockchain-and-crypto/#53d367cd1036
Unbelievable, who would have known such giant corporations are funding terrorism?! This goes really deep!
What will be the PayPal, amazon or google of the crypto world remains to be seen, but it’s an incredibly exciting technology that we’re really at the birth at.
But to imagine that it’s all a North Korean or Islamic state conspiracy... that is utterly laughable.
The thread is also 27 pages long. It’s mindblowing ignorance to go onto it and pedal crap that’s repeatedly been disproven and explained earlier in the thread. I haven’t even watched the panorama programme but from people’s responses in this it seems like their understanding of blockchain/iot technology is ridiculously lacking.
Or are you suggesting incompetence cannot be mocked?