Is it coming for domestics

[Rossi46]

Crypto may well have a future, but, at this point in time, there are multiple competing crypto platforms and it doesn't matter how advanced the progamming may be - for any of them to have robust potential, during challenging economic times, they must be asset-backed with real physical assets of genuine value, not just digital ones and zeros. I strongly suspect that current cryptos are probably controlled experiments, to test the water, rather than being the genuine 'competition' to the banking oligcarchs they are claimed to be. I say this because those oligarchs are, at this point in time, still far too powerful to be so easily competed against. Furthermore, many of the current banking oligarchs would actually like to see the world move over to entirely digital currency, because then Joe Bloggs is much more vulnerable than if he can use cash.

I'm not an expert in investing, but investing is built on bubbles of nothing nested within other bubbles of nothing, like an onion. It's 99% gambling on derivatives and fictions. Stock-brokers and bankers know this. They just don't give a fck - they'll keep squeezing the lemon again and again and again until the whole house of cards collapses, and then they'll expect the public purse, around the world, to pick up the pieces and give them an opportunity to exploit some other house of cards. Greed begets greed begets greed begets greed begets greed, ad-infinitum. Only very naive people would invest heavily in current cryptos in the belief that they are genuine competition to the current paradigm.

Look up Hedera Hashgraph. It’s different.

 

[Monkey Boy]

 

[Danny]

Best book recommendation?
Best new thing you learnt?

Ah books... really hard one really as most of teh books I read are vastly different to the book.

I like learning about the power of the mind and how people react and think and some of the old classics like

"how to make friends and influence people" was very interesting.

But my favourite books have been the rich dad poor dad books. Devastated to later learn it was all tosh but the lessons were still valid.

I also now don't read books but use Audible and instead of listening to the radio in the car or when I am out in the garage i listen to books.

The best new thing i have learnt is Amazon FBA... that has been good fun and an eye opener and has made some ok money with very little effort.

 

[Danny]

I’m intrigued by that Danny. I know some very wealthy individuals that are very switched on with finance. That’s what’s got them where they are as millionaires. They’re investing 10’s of thousands in Crypto ready for the inevitable financial reset. There’s no way the current system can continue.

I dont understand it to be honest. Even paying people to understand for me just does not appeal so I will sit and wait and see. I have some friends who are also bonkers rich through financial trading and they are sat on the fence in fact their advice has been buy gold and silver....

 

[Danny]

I'd steer clear of cars (no pun intended) if I were you.

It's been a rapidly-ascending bubble, this past few years, but (as much as I like and appreciate them), they are luxury items AND they have been pawns in the 'investment' game. The problem is, when the economy takes a nosedive, the last thing anyone gives a fook about is luxury items. In a crashed economy, all people really need is food, housing, and social support.

Therefore, the value of cars (play-things of the wealthy) will plummet frighteningly fast.

I would therefore suggest putting your money in property.

Having said that, if you're only buying-to-let, then you're contributing to the housing problem, by making it harder for first-time buyers to get a foot on the housing ladder unless they buy some utter wank cereal-box home built by the likes of Pi$$imon, which is worth even less than the landfill site it sits on...

One thing I have learnt is to diversify. I have property already so dont want to over expose too much.

I am more than happy to "contributing to the housing problem" as I feel that first time buyers are in a no worse position now than they were in the past. Deposit sizes are big but lets be honest they are not unreachable. just first time buyers always feel they are being hard done by.

I know people on min wage who manage to save to get a deposit and get on the housing ladder.

cut out all the standing orders of "luxury" items out of their monthly bill and suddenly a deposit is only a couple of years away.

Also owning your home is not a right but a privilege.

 

[windy]

Ah books... really hard one really as most of teh books I read are vastly different to the book.

I like learning about the power of the mind and how people react and think and some of the old classics like

"how to make friends and influence people" was very interesting.

But my favourite books have been the rich dad poor dad books. Devastated to later learn it was all tosh but the lessons were still valid.

I also now don't read books but use Audible and instead of listening to the radio in the car or when I am out in the garage i listen to books.

The best new thing i have learnt is Amazon FBA... that has been good fun and an eye opener and has made some ok money with very little effort.

Loved rich dad poor dad taught me some some basics and built from there. Read the full series but the 1st book was the best

 

[Donzo]

my kids drink smoke and gamble
Big tatooes saying
I love dad

Thought they are under 10 years old.started late bud.

 

[OCDC]

Ah books... really hard one really as most of teh books I read are vastly different to the book.

I like learning about the power of the mind and how people react and think and some of the old classics like

"how to make friends and influence people" was very interesting.

But my favourite books have been the rich dad poor dad books. Devastated to later learn it was all tosh but the lessons were still valid.

I also now don't read books but use Audible and instead of listening to the radio in the car or when I am out in the garage i listen to books.

The best new thing i have learnt is Amazon FBA... that has been good fun and an eye opener and has made some ok money with very little effort.

The Tao of Charlie Munger is a fantastic listen.

They all teach the basics of:

Patience
Know what you don’t know (Crypto!)
Dont get sucked in to keeping up with the Jones’s
Magic of Compounding