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azda

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Posts posted by azda

  1. Posted

    On 3/14/2024 at 11:56 PM, Menger said:

    Yes - the “price” is determined by supply and demand, but that supply and demand itself is determined by the (subjective) “value” to the people supplying / demanding.  In the absence of anything else (cannot be used to fill teeth or pay taxes, for example) that value will be based on the value as speculative instrument. This makes for volatile price action (just watch) which makes for a terrible store of value (grannies don’t trust it) which means it will not be generally accepted - and so cannot be “money” (generally accepted means of exchange).  The technology is fantastic. But the initial premise was that it would become “money”. That premise fueled the initial speculation. Now the speculation itself fuels the speculation. Not good. Speculation can go to infinity (or zero) if not tethered to reality by some reference value aside the speculative value itself.  The initial premise was wrong and one day the market will discover the price that properly reflects its worth. 

    Actually, in some places you can pay your taxes with bitcoin 🤓

  2. Posted

    On 3/13/2024 at 6:42 PM, Menger said:

    I believe that was me. What I predicted was that Bitcoin would test zero before it became money (indeed it would never become money; and would test zero one day). I explained at some length what I mean by “money” (generally accepted means of exchange, like dollars) and my reasoning based on first principles behind the prediction.  I chose my words carefully. I never offered any view on what price action might occur before it testing zero - because I have no basis to make a prediction on that. I am certainly not surprised by recent price action. Tulips also were proffered as “money” and went to the moon before testing zero. I stand my my initial prediction. 

    Doubtful it will see zero with hedge funds now entered into the area. In fact one CEO hedge fund manager got booted for not entering inTO THE BTC ETF, but now it will never go to zero as there’s trillions, not billions available.

  5. Posted

    I remember not long ago there was a discussion about crypto, someone mentioned something about it going to zero. Now with Blackrock and several other hedge fund managers pumping their endless trillions into bitcoin I just wonder what his feeling is on it now.

    I have been inactive buying as I've been making money in crypto, buying spot bags plus leverage trading, my biggest win to date was a 3000% gain on a 40x long trade that I did, don't get me wrong, I'm no guru, but no dummy either, learning is all part of the fun, just like it was when I started out collecting coins. I have a goal in crypto, I've doubled my input so far, but will be back when the frenzy calms down and I've had enough.

     

    P.S, to whoever it was that thought it was going to zero, pension funds have been unlocked and are able to buy, that's where the trillions come from, I also expect bitcoin to hit 6 figures this year.

     

    Ciao for now

  7. Posted

    On 6/15/2018 at 9:41 PM, 1949threepence said:

    On a recent trip to Kew Gardens, I was appalled to find that the cafeteria there, would not accept cash, so I had to use my contactless card. Also, bus companies up and down the country won't accept cash either. Moreover, there are young people now who claim they never carry cash, and just use cards. Although this must be difficult with smaller items, as a number of places still do not hold contactless technology. You'd look mighty strange getting your debit card out to pay for a bag of crisps. Also, how do you contribute to office collections with a debit or credit card?

    All that said, cash does remain very popular and billions of transactions are still carried out each year using cash. I believe it remains the most popular monetary transaction medium. Especially abroad, where in many countries it is still actively preferred to cards.

    I am filled with horror at the thought of cash no longer being available, as this negates any chance of anonymity when buying an article, or paying someone for any kind of service, such as tradesmen who frequently offer a discount for cash in hand.

    I can't see us going cashless for some time yet, if ever. Although I am sure there are those who would like to see this for their own ends.

    What do others think about this question? 

           

    The whole point of a cashless society IS to make sure you’re NOT anonymous. Govts will control your bank account and if they don’t like what you’re buying then you won’t be able to pay for it, Legrade said as much when asked about going digital.

    • Like 3

  17. Posted

    1 hour ago, pokal02 said:

    Got a silver proof 50p (£59.50) - I see they are £79.95 on ebay.  Not sure why anyone would pay the extra as the mintage is unlimited and you can order until 31 December.  It's not like the normal (shield) 50p's where one has to break up a proof set to get one. 

    How does the seller explain the 4 month wait time if he actually sells it? 

  18. Posted

    On 10/1/2022 at 7:04 AM, Mr T said:

    When do new mint sets normally get launched in the UK?

    Nov/Dec normally, but I think they'll be delayed until the coronation, plus the Mint has just offered some coins today with an unlimited mintage, so they will be busy and as usual running no quality control

  20. Posted

    2 minutes ago, Bruce said:

    Seems likely a very popular one, in view 1902, 1911 coronation long sets are doing well after decades.

     

     

    The fact its a new monarch was the appeal, never normally buy these year sets to be honest, but I think these will be delayed till January.

    • Like 1

  22. Posted

    On 10/1/2022 at 7:04 AM, Mr T said:

    When do new mint sets normally get launched in the UK?

    I've already been asked by a dealer if I wanted a 5 coin sovereign set, these should be around Nov, could be a delay, who knows. The allocation the dealer has, has already been reserved, another dealer approached the dealer in question asking to buy their entire allocation 

    • Like 1

  23. Posted

    On 9/30/2022 at 2:49 PM, Bruce said:

    That's quicker than expect.  Originally think KCIII portrait won't be available until 2023.  Now, thinking whether the upcoming launch of 2023 Britannia will also with KCIII obverse.

    Not many dead monarchs are on new coinage, so I'd assume Charles will be on them, also on the new sovereign releases and sets etc

    • Like 1

  24. Posted

    18 hours ago, VickySilver said:

    Okay, I know the usual caveats of holding coin in hand and quality of photos, blah, blah, blah. HOWEVER (and I know I may be biased but have NO axe to grind), I wonder what readers think of at least three of the coins on sale:

    - the two specimens of 1839 Halfcrown proof

    - the 1893 crown proof

    - the 1902 florin matte proof (in 67 no less)

    I was completely flabbergasted and am not necessarily a conspiracy person, but I can't help but believe that these grades are inflated. Now whether that is due to the source of the consignor, I can't say - but certainly must wonder. There were numerous other examples that IMHO had "blown up" grades as well.

    Given the amount of coins that's obviously been submitted and the clout NGC would receive for some of the rarities that's been through this British series from Sincona, it wouldn't surprise me there will be grade inflation

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