The on topic thread 3.0

[Bostonian]

Crypto has fallen through the floor. Celebs that were launching NFT's (John Terry etc) have gone nowhere with them.

I'm happy for you to show me otherwise but everything I've seen and been told (I do have mates that invest in that space) have said they're essentially dead.

Will be interested to see how Ronaldo's goes.

See this posts suggests you're only viewing an NFT as having one specific purpose.

NFT's have a lot more use than just digital images.

What about the NFTs that are used as tokens for buying in game products? No mention of them?

 

[TheGreatBarryB]

I suppose all Ponzi schemes have to come to an end eventually. Read today that FTX investors are planning to sue well known celebs such as Tom Brady and Larry David who have promoted it before. Messy

 

[Zidane98]

I suppose all Ponzi schemes have to come to an end eventually. Read today that FTX investors are planning to sue well known celebs such as Tom Brady and Larry David who have promoted it before. Messy

Binance in trouble if everyone pulls their crypto.

 

[Bostonian]

Binance in trouble if everyone pulls their crypto.

So is the Commonwealth Bank if everyone walks in and withdraws all their money.

 

[Zidane98]

So is the Commonwealth Bank if everyone walks in and withdraws all their money.

No it isnt. Banks here have a government guarantee.

Binance does not.

 

[SM]

Crypto currencies were braggadocious about their lack of regulation and are now realising why regulation exists.

 

[Bostonian]

No it isnt. Banks here have a government guarantee.

Binance does not.

So you're saying if everyone walked into the bank and withdrew their cash they could facilitate it?

If a bank run went down they got it covered?

 

[SM]

So you're saying if everyone walked into the bank and withdrew their cash they could facilitate it?

If a bank run went down they got it covered?

That's the notion of a government guarantee, yes.

The CBA is not going to fail if there is a run on the bank.

 

[Frank Bunn]

So you're saying if everyone walked into the bank and withdrew their cash they could facilitate it?

If a bank run went down they got it covered?

All financial instruments that are not tied to real commodities are subject to this risk. The main differences are that some 'currencies' are guaranteed by governments and some are not. And governments pretty much have unlimited ability to print money when it suits them, but crypto has a limited ability for creating money. There's a lot of scope for corruption inside of all that.

 

[Bostonian]

That's the notion of a government guarantee, yes.

The CBA is not going to fail if there is a run on the bank.

Living in Geelong I remember this all too well.

Pyramid Building Society - Wikipedia

en.wikipedia.org

Government didn't pay for shit. They just taxed everyone else to pay for it.

 

[SM]

Living in Geelong I remember this all too well.

Pyramid Building Society - Wikipedia

en.wikipedia.org

Government didn't pay for s**t. They just taxed everyone else to pay for it.

Where do you think Governments get their money from..?

 

[Bostonian]

Where do you think Governments get their money from..?

Theft.

 

[Bostonian]

All financial instruments that are not tied to real commodities are subject to this risk. The main differences are that some 'currencies' are guaranteed by governments and some are not. And governments pretty much have unlimited ability to print money when it suits them, but crypto has a limited ability for creating money. There's a lot of scope for corruption inside of all that.

Thus Governments can make a currencies worthless. Which happens.

I'd rather hold crypto than the Venezuelan Bolivar.

 

[SM]

Theft.

You're utterly insane.

 

[SM]

Thus Governments can make a currencies worthless. Which happens.

I'd rather hold crypto than the Venezuelan Bolivar.

Why wait for a government to make a currency worthless when the market will do it for them.

 

[Bostonian]

You're utterly insane.

Insane is handing a dead shit corrupt campaigner like Dan Andrews your hard earned and trusting him to use it wisely.

 

[Cruyff14]

 

[RPCB]

Challenging wank.

 

[SM]

Insane is handing a dead s**t corrupt campaigner like Dan Andrews your hard earned and trusting him to use it wisely.

Ranting about your hard earned money while you sit on BF in the middle of a work day is a more than a little insincere.

The fact you uttered, seemingly with a straight face, the sentence "The government didn't pay for it, they just raised taxes" is hilarious.

 

[Bostonian]

Ranting about your hard earned money while you sit on BF in the middle of a work day is a more than a little insincere.

The fact you uttered, seemingly with a straight face, the sentence "The government didn't pay for it, they just raised taxes" is hilarious.

Why would the Government tax other people for the collapse of a private company? That shit isn't funny. Sounds corrupt.

The fact you've never heard of the concept of rosters and 7 day working weeks is interesting though.

 

[Bojan KantKick]

No it isnt. Banks here have a government guarantee.

Binance does not.

How much does that cover?

Edit - 250k per account. Not enough I'm afraid

 

[Bojan KantKick]

That's the notion of a government guarantee, yes.

The CBA is not going to fail if there is a run on the bank.

The government would bankrupt the country for a generation if it tried to save a bank the size of CBA going under.

 

[Camros2]

When Harry Kane last lifted a trophy

 

[SM]

The government would bankrupt the country for a generation if it tried to save a bank the size of CBA going under.

It wouldn't need to cover all funds though, just to give the security to stop the run. There was talk about that during the GFC.

 

[SM]

View attachment 1555778

When Harry Kane last lifted a trophy

Is this a new discovery?